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New low-cost apartment at Taman Nagasari turned into a hostel for foreign workers

Property News/ 24 January 2022 No comments

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The excitement of some residents receiving the keys to occupy a new house in Block A, Taman Nagasari, Prai here more than a month ago turned into concern due to the presence of a group of foreigners who are said to also rent there.

It is understood that about 10 of the total 150 units of low-cost apartments in the block have started to be occupied by locals while most of the other occupants have not done so.

However, according to the residents, the number of foreigners who rented the apartment is more, involving about 20 units and some live there earlier than the residents who should be.

Even more disappointing, they said, there were apartment units that were misused to be workers’ dormitories equipped with My Sejahtera QR Code openly at the entrance.

Residents’ representative, Amirul Adli Ahmad, 28, said, according to the agreement, the 11-storey apartments worth RM42,000 per unit built by the state government cannot be rented out to either locals or foreigners.

“So, we wonder how these apartment units can be rented to foreigners at will by the owner. In fact, we were informed that a grocery store will be built on the ground floor of the apartment while commercial activities are also not allowed to be carried out in this block, ”he said.

He and several other residents were met by reporters while receiving a visit from Bukit Tengah State Assemblyman (ADUN), Gooi Hsiao Leung to complain about the matter, here last weekend.

Commenting further, Amirul Adli said, he and the rest of the residents there wanted the issue resolved as soon as possible to prevent more foreigners from living there until the situation became out of control.

“Residents here have also agreed to use access cards to control those who come in and out of this block in the future.” said the father of two.

In the meantime, Hsiao Leung said, the issue of misuse of residential units for rent to foreigners like this should not happen because the apartments are reserved for low-income locals who do not yet own a house.

“I have also written a letter to the State Housing, Local Government, Town and Country Planning Committee chairman Jagdeep Singh Deo after receiving complaints from residents and asking the state government to investigate the matter accordingly,” he said.

Source: Utusan Malaysia

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Ideal Venice Residency

Island Glades/ 22 January 2022 6 comments

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Ideal Venice Residency, the second phase of PR1MA affordable housing development by Ideal Property Group at Island Glades. Strategically located near the intersection of Jalan Bukit Gambir and Jalan Lembah, next to Ideal Residency. It’s just a stone’s throw away from University Science Malaysia (USM), about 5 minutes drive to Penang Bridge.

This development comprises two blocks 46-storey residential towers, featuring 1,632 affordable housing units with six levels of car parking podiums and two levels of facilities.  They are two different layout types with a standard built-up size of 850 sq.ft. Indicative price starts from RM300,000 onwards.

READ MORE ABOUT AFFORDABLE HOUSING:

Project Name: Ideal Venice Residency
Location :
 Island Glades, Penang
Property Type : Affordable housing
Built-up Area: 850 sq.ft.
Indicative Price : RM300,000
Developer : Ideal Capital Venture Sdn. Bhd. (Ideal Property Group)

Register your interest here

(This information will be used to keep you updated on the project and future development.)
*By submitting this Form, you hereby agree to our PDPA Consent Clause.

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Grab the best resort home in Penang from only RM1,080* per month

Events/ 21 January 2022 No comments

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Have a growlingly auspicious Lunar New Year and own a move-in ready luxury resort condo too!

Book Now and The Prosperity Ang Pow with 999 Gold Piece is awaits you.

Easy to own Ferringhi Residence 2 :

  • From RM1,080*/month
  • 0% downpayment
  • Spacious layout from 1,494sf onwards
  • 3 bedrooms and 3 bathrooms
  • Mesmerising hill and sea view with good Fengshui
  • Large 4.3-acre lifestyle facilities
  • Close to the beach

Hurry up! Call Mah Sing for viewing actual show unit 04-291 3109 or WhatsApp https://wa.me/60104419010 .

Make a show unit viewing appointment at https://ferringhiresidence2.com/booking/

Register your interest now to receive a call back!

*By submitting this Form, you hereby agree to our PDPA Consent Clause.
(This information may be used by the developer or their appointed agent to initiate follow-up communications with you on the project.)

BNM to keep interest rates at record low

Property News/ 20 January 2022 1 comment /中文版

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Bank Negara Malaysia has decided to maintain the Overnight Policy Rate (OPR) at 1.75 per cent, after concluding its Monetary Policy Committee (MPC) meeting today.

In a statement today, the MPC considered the stance of monetary policy to be “appropriate and accommodative”.

It added that fiscal and financial measures would continue to cushion the economic impact on businesses and households and provide support to economic activity.

“Given the uncertainties surrounding the pandemic, the stance of monetary policy would continue to be determined by new data and information and their implications on the overall outlook for inflation and domestic growth,” said Bank Negara.

The central bank remains committed to using its policy levers as appropriate to foster enabling conditions for a sustainable economic recovery.

Bank Negara said the global economy remained on a recovery path, driven by expansion in manufacturing and services activity.

However, it said inflation had risen amid continued strength in global demand, supply chain disruptions, higher commodity prices and labour shortages.

Nevertheless, it added that global growth prospects would likely be supported by further progress in vaccination coverage and relaxation of containment measures.

In several major economies, Bank Negara said sizeable fiscal and monetary policies would continue to support the recovery momentum.

“Overall, the balance of risks to the global growth outlook remains tilted to the downside,” said Bank Negara.

This was attributed mainly to uncertainty surrounding the emergence of variants of concern, the risk of more prolonged global supply chain disruptions, and potential risk of heightened financial market volatility amid adjustments in monetary policy in major economies.

For Malaysia, Bank Negara said economic activity had weakened in the third quarter, amid the imposition of nation-wide containment measures to curb the resurgence in Covid-19 cases.

However, in line with the relaxation of restrictions, latest high frequency indicators showed that economic activity has recovered from the trough in July.

“Going into 2022, the growth momentum is expected to improve, supported by expansion in global demand, higher private sector expenditure in line with the resumption of economic activity and continued policy support.”

Bank Negara said risks to the growth outlook remained tilted to the downside due to external and domestic factors.

These include a weaker-than-expected global growth, a worsening in supply chain disruptions, and the re-imposition of containment measures due to the impact of new Covid-19 variants of concern.

Bank Negara said headline inflation was likely to average within the projected range of between 2.0 per cent and 3.0 per cent for 2021, having averaged 2.3 per cent year-to-date.

Underlying inflation, as measured by core inflation, is also expected to average below 1.0 per cent for the year.

Bank Negara said headline inflation was projected to remain moderate, while core inflation is expected to edge upwards as economic activity normalises, but it remain benign given the continued spare capacity in the economy and slack in the labour market.

“The outlook, however, continues to be subject to global commodity price developments and some risk from prolonged supply-related disruptions,” it added.

Source: NST Online

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Commercial properties for RENT/SALE in Bayan Baru

Bayan Baru/ 19 January 2022 No comments

If you are looking to establish your business in Bayan Baru, PDC is currently offering numerous attractive retail shoplots for rent/sale at The One which consists of three different ranges of commercial shoplots known as 1-World, 1-Sky and 1-Square. Located along Jalan Mahsuri at the heart of the Bayan Baru township and free industrial zone (FIZ), numerous major business and shopping complexes such as GBS @ Mahsuri, Setia SPICE, Bukit Jambul Complex, the upcoming Penang International Commercial City, Queensbay Mall, Sunshine Square and Giant Hypermarket are all strategically located within the surrounding vicinity of The One.

Despite being located near the industrial zone, business owners, who set up their business at either of the three locations at The One, will find a serene commercial location that is nestled among lush greeneries that were exquisitely landscaped around its environment to create a harmonious natural atmosphere, thus, setting it apart from the hustle and bustle of the industrial zone. Apart from its serene natural greenery and strategic geographical location that will certainly boost the fortunes of business establishments, 1-World, 1-Sky and 1-Square at The One are available for rent/sale at an attractive price. In addition to the wide and diverse range of amenities that can be conveniently found in this friendly neighbourhood, the spacious shop offices at The One are also easily accessible by visitors.

For more enquiries regarding the sale/rent of these retail lots, call PDC today at
04-6340109 / 04-6340423 / 04-6340406 or register your interest below:

Register your interest here

*By submitting this Form, you hereby agree to our PDPA Consent Clause.
(This information may be used by the developer or their appointed agent to initiate follow-up communications with you on the project.)
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