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MBSP and Think City sign MoU to create ‘20-Minute City’

Property News/ 15 October 2021 No comments /中文版

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One day, pedestrians or those cycling from one location to another around the city of Seberang Perai may only take less than 20 minutes, such as Melbourne (Australia) and several other famous cities in the world.

This was mentioned by the Mayor of Seberang Perai City Council (MBSP), Dato ‘Sr. Rozali Mohamud after signing a memorandum of understanding (MoU) with Think City, a subsidiary of Khazanah National Berhad to further rejuvenate Butterworth and improve the livability of the locals.

“Six projects have been planned to be implemented in 2022, namely the Public Realm Urban Design Guidelines (UDG) for 20-Minute City, community involvement in the design of concept plans in Taman Pantai, Butterworth and Sungai Perai programs.

“Other projects include the upgrading of Jalan Jeti Lama Market which cost RM4 million to be borne by MBSP, the upgrade of Pocket Parks and Rain Garden as well as the expansion of Butterworth Art Walk,” said Rozali in the brief event at MBSP Tower yesterday.

Also present were acting City Secretary, Baderul Amin Abdul Hamid; Council members for the relevant Local Authorities (PBT) and the Managing Director of Think City Sdn. Bhd., Hamdan Abdul Majeed.

Rozali added that the MoU signed for the period 14 October 2021 to 13 October 2026 is an extension of the memorandum of understanding previously signed for a period of five years, on 8 January 2016.

Commenting further on the previous MoU, Rozali explained that MBSP had successfully rejuvenated Butterworth through programs and projects such as Butterworth Fringe Festival (BFF), upgrading a pocket garden at Lebuh Bengal, Ria Apartment swimming pool, Butterworth Digital Library development, Butterworth Art Walk and development of bazaar MARA Bagan.

“In line with this MoU, an extension of cooperation in the implementation of the New Butterworth Program involving the Adopting 20-minute City Project in Butterworth will be held in January 2022.

“We plan to create seven neighborhoods with the concept of ’20-minute City ‘in Seberang Perai.

In ‘20 -Minute City ’, we will only talk about the cycling and walking lifestyle to access basic amenities such as school, daily equipment, hospital and leisure.

“Meanwhile, movement among several townships will use public transport within 20 minutes.

“So, with the development of ’20-Minute City ‘in the neighborhood and between townships, it will make Seberang Perai the first 20-minute city in Malaysia,” he explained.

In this regard, Rozali hopes that more private parties can come together to make the project a success by 2030.

Source: Buletin Mutiara

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Five-year plan RMMPg aims to supply 7,838 units of affordable homes

Property News/ 14 October 2021 No comments

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The Penang Housing Board has rebranded its five-year Penang Housing Board Development Master Plan for the year 2021 to 2025.

Penang Local Government, Housing, Town and Country Planning Committee chairman Jagdeep Singh Deo said the five-year master plan would now be named as Rumah Mampu Milik Penang (RMMPg).

In a media release, it was stated that the RMMPg would comprise nine affordable home projects and five urban regeneration projects.

After his visit to Fairview Residence in Sungai Ara today, Jagdeep told a press conference that the state Housing Board had planned to supply 7,838 units of affordable homes through these 14 projects.

“I would like to congratulate the Penang Housing Board for the initiative,” he said.

He added that the state would continue to monitor the supply of affordable homes for the people.

“We have a target of supplying 220,000 units of affordable homes (various types) under the Penang2030 vision. We strive to achieve our target by 2030.

“We have supplied almost 130,000 units of affordable homes (various types) so far, since 2008,” he said.

He also commended the developer for building low medium-cost and affordable units at Fairview Residence.

On a separate matter, Jagdeep said that the urban regeneration project at the ‘5 Point Blocks’ flats in Lorong Mahsuri 10 in Bayan Baru was scheduled to start by the end of this year.

Source: Buletin Mutiara

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HOC may extend to secondary housing market

Property News/ 14 October 2021 1 comment

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The government may extend the Home Ownership Campaign (HOC) benefits to the secondary market, the National Property Information Centre (Napic) said.

It may also freeze the development of stratified buildings to resolve the overhang in the various segments of the property market.

The HOC benefits include substantial savings in stamp duty and tax exemption in housing loans.

Deputy director of Inventory at the National Property Information Centre (Napic) Ari Adam said extending the HOC to the secondary market will create a level playing field in the residential segment.

The HOC benefits are currently limited to developers’ units but the extension to the secondary market will see house owners benefit when they sell their houses.

The HOC is expected to end on Dec 31, 2021.

Ari said a freeze on stratified buildings may resolve the overhang in the residential and serviced apartment segment, and in the purpose-built office space and shopping malls while extending the HOC to the secondary market will help to spur residential sales.

He was speaking at the association of valuers, property managers, estate agents and property consultants in the private sector Malaysia (PEPS) 14th Malaysian Property Summit 2021.

Ari hinted that the Budget 2022 may also reveal some news with regards the extension and the possible freeze on stratified buildings.

He said the government and stakeholders need to “think out of the box” as the government is expecting a surge in stratified units – mainly serviced apartment units – as developers try to maximise profits when the economy takes ginger steps towards reopening.

Ari, who was in Johor before the pandemic to see the situation there, said the overall overhang situation in the country “is quite alarming and we have to think out of the box” about how to resolve it.

The unsold completed units – overhang, in property parlance – in residential, serviced apartments and small office home offices (SoHos) totalled 57,154 units, with a ringgit value of RM41.54bil at the first half of 2021.

Ari said the issue of overhang has been there since before the Covid-19 pandemic but the pandemic “only amplified the scenario.”

“As I usually say, data speaks for itself. The question is: What do we do with overhang? Do we let prices come down?

“Perhaps if we had (made it mandatory) for developers (to have independent feasibility and market studies), there may be no overhang. Perhaps if developers consider what the people want or can afford,” Ari asked.

As for office and mall space, Ari said Malaysia has never seen such low occupancy rates for both which is about 70% as today.

“This is the lowest ever. I don’t know if it will get worse or better. We have to find ways to occupy all the space we have. There were ideas about making them into small office centres, data centres or starter homes,” Ari said.

Source: FreeMalaysiaToday.com

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REHDA: More measures needed to help property sector

Property News/ 13 October 2021 1 comment

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The government, through the Housing and Local Government Ministry, has been doing an admirable job of trying to make the housing delivery system as smooth as possible to ensure that the people would have access to affordable homes.

However, this has not been an easy task to undertake as housing falls under the jurisdiction of state governments – each one with its own set of guidelines and requirements that may sometimes go beyond those provided by the federal government.

Such requirements have had an impact on the cost of development, and ultimately, the affordability of houses, said Real Estate and Housing Developers’ Association (Rehda).

Given the current scenario, government assistance is crucial to reduce the cost of doing business, which would subsequently help to give a much-needed boost to the affordable housing segment.

For development costs to remain sustainable, the government needs to take steps such as not imposing any more new conditions or new charges or raising contribution charges by utility companies and local authorities, it said.

“Besides, the federal government should also advocate for standardised guidelines and rules to be adopted nationwide, especially those which could benefit all parties,” the leading representative body for private property developers told Bernama in its wishlist for Budget 2022.

Rehda also hoped that the government would extend the ongoing measures taken to help the property industry, and introduce new ones to boost its recovery in light of the ongoing pandemic and its prolonged impact on the industry.

“The most urgent one needed by the industry currently is the amendment of the Temporary Measures for Reducing the Impact of Coronavirus Disease 2019 (COVID-19) Act 2020 with regards to contractual obligations to account for the Movement Control Order (MCO) 2, MCO 3, Enhanced MCO, Full MCO and National Recovery Plan Phases One and Two.

“Amendment of the Act is important to protect the interests of the affected parties for their inability to meet the contractual obligations due to reasons which are beyond their control,” it said.

Rehda also wished for the government to take steps to ensure the stabilisation of building material prices like steel bars, which has been fluctuating in recent years.

“We also hope the government would review or abolish some measures introduced when the property market was at its peak, as they might not be relevant for now.

“Additionally, the government could consider the downward revision of the Real Property Gains Tax (RPGT), with zero imposition for properties disposed of from the sixth year onwards, as well as the total removal of the Loan-To-Value (LTV) ratio for the purchase of third property onwards,” it said.

Additionally, it also hoped that the long outstanding issue of foreign workers in the construction industry would be resolved.

Meanwhile, National Housebuyers Association (HBA) honorary secretary-general Datuk Chang Kim Loong wished that the government would reduce the income tax for individuals affected by Covid-19 and ensure that deserving individuals are given access to financing, especially for first-time house buyers.

“We also hope that developers building affordable homes costing RM300,000 and below would be given incentives.

“Besides, we hope the government would repeal the RPGT which is currently at five per cent for disposal of property held for more than five years, and increase RPGT rates for disposal of third and subsequent property,” said Chang

Source: NST Online

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Taman Mengkuang Jaya 3

Kubang Semang/ 13 October 2021 No comments

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Taman Mengkuang Jaya 3, the forth phase of Taman Mengkuang Jaya master planned residential development by Metrio Group at Kubang Semang in Bukit Mertajam. Located adjacent to the first phase of Taman Mengkuang Jaya, accessible via Jalan Kuala Mengkuang. It is less than 2km away from BKE – Penanti exit, approximately 20 minutes drive to Kulim Hi-tech park and Penang Bridge.

This development will feature a total of 106 landed residential units, with built-up sizes ranges from 1,968sq.ft. onwards:

  • 2-storey terrace (83 units)
  • 3-storey terrace (14 units)
  • 2-storey semi-detached (8 units)
  • 2-storey bungalow (1 unit)

Project Name: Taman Mengkuang Jaya 3
Location : Kubang Semang, Bukit Mertajam
Property Type : Residential development
Total Units: 106
Built-up Area: 1,968sq.ft. (2-storey terrace), 2,292sq.ft. (3-storey terrace)
Land Size: 1,391sq.ft. (2-storey terrace), 2,131sq.ft. (3-storey terrace)
Indicative Price: RM478,000 onwards
Developer: Tuah Eramas Sdn. Bhd. (Metrio Group)

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DISCLAIMER: This article is solely based on research done using publicly available data. This is not an advertisement. Any claim, statistic, quote or other representation about a project or service should be verified with the developer, provider, or party in question.