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Panchor Sanctuary Garden

Nibong Tebal/ 11 July 2022 2 comments

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Panchor Sanctuary Garden, a gated and guarded residential development by Oriental Link Properties Sdn. Bhd. at Nibong Tebal. Located adjacent to Taman Residensi Punchor, just a mere minutes drive from Nibong Tebal town centre. Nearby amenities include but not limited to Bukit Panchor Health Clinic, Vocational College Nibong Tebal, SMK Tunku Abdul Rahman, several eateries and convenience stores.

This development comprises 116 units of 2-storey terrace houses and a clubhouse, featuring the Eurasian concept.

Project Name : Punchor Sanctuary Garden
Location : Nibong Tebal
Property Type : Gated and guarded
Built-up Size: (to be confirmed)
Total Units: 116
Indicative Price: (to be confirmed)
Developer : Oriental Link Properties (M) Sdn. Bhd.

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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.

SITE PROGRESS: Sunshine Central (July 2022)

Property News/ 10 July 2022 No comments

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About Sunshine Central

A re-development of the old Sunshine Farlim site into a new commercial complex with business hotel and serviced residence. The entire project will be over 3.7mil sq ft of gross area, spread over three blocks of 38-storey buildings, comprises 270 units of serviced apartments, 144 units of small home offices (Sohos), a hypermarket, 300 retail outlets, a medical specialist centre, a 320-room business class hotel, and cineplexes.

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Penang Hill Gallery @ Edgecliff now open

Property News/ 8 July 2022 1 comment

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After four years of transformation, the Penang Hill Gallery @ Edgecliff is finally open!

From its outdoor terrace and balconies, the impressive art deco-styled bungalow offers an amazing 270-degree view of Penang island.

Its interior features various artefacts, exhibits and stories of the hill. The Penang Hill Gallery @ Edgecliff is not just a gallery but an education centre that is surrounded by rich flora and fauna.

Penang Hill Corporation (PHC) senior manager Shahril Cheah said the gallery is divided into five sections – time tunnel, biodiversity, heritage, funicular, and culture.

“Each section allows us to embrace more than a century of Penang Hill’s history, as though we are travelling back in time.

“The journey starts from the time tunnel, followed by the biodiversity section for visitors to explore an ‘indoor forest’, and a sneak peak into the Penang Hill Biosphere Reserve that was recently listed under the Unesco’s Man and the Biosphere Programme.

“The heritage section offers visitors to discover stories behind each bungalow on the hill and to admire the engineering marvel and the construction of the funicular.

“Lastly, the historic culture and transformation of the Penang Hill Gallery @ Edgecliff are displayed at the culture section,” he read out the speech by PHC general manager Datuk Cheok Lay Leng, who was unable to be present, today.

Cheah said the corporation was proud to announce that Penang Hill Gallery @ Edgecliff was the first project in the country that had achieved certification under the Green Building Index Non-Residential Existing Building (NREB) Historic Building Tool.

“The gallery is equipped with sustainable features such as solar panels, a rain harvesting system and a motion sensor lighting as part of our efforts to conserve enerygy, in line with our environmental sustainability goal.

“Our special thanks go to First Solar Malaysia for the contribution of solar panels, in support of the Penang government and PHC’s green initiatives,” he said.

Chief Minister Chow Kon Yeow congratulated the PHC team, consultants, contractors, volunteers, and contributors for playing significant roles in restoring the heritage bungalow and repurposing it for educational and heritage use.

“The state government fully supports the effort of repurposing the Edgecliff premises for educational and cultural purposes.

“This heritage project involved the creation and reliving of the historic Edgecliff bungalow that was built by the architect J.C. Miller in 1937.

“And today, PHC has turned it into a gallery and education centre. This is definitely not an easy task that can be accomplished overnight.

“It requires relentless efforts, dedication and commitment to restore and revitalise this 85-year-old state-owned bungalow which is perched on a steep slope on Penang Hill and nestled within the Penang Hill Biosphere Reserve.

“Since the start of the Edgecliff bungalow project in 2019, the continuous works to strengthen the hill slopes and conservation of this Category II heritage building were carried out systematically by PHC,” he said before opening the gallery.

Chow said the Penang Hill Gallery @ Edgecliff would provide a great insight into rich diversity, history, traditions and funicular engineering of Penang Hill.

 

Source: Buletin Mutiara

SITE PROGRESS: GEM Residences (July 2022)

Property News/ 7 July 2022 14 comments

gem-residences-site-progress-july2022

About GEM Residences

GEM Residences, a commercial development by Belleview Group at Prai, Penang. It is part of the company’s 6 hectares mixed development along Jalan Baru, diagonally opposite Megamall Penang. Next to it will be the upcoming largest mall in the northern region – GEM Mall, the tenant mix include SOGO (first and largest departmental store in the northen region at 212,000 sq.ft.) and a supermarket (largest at 50,000 sq.ft.).

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BNM raises OPR by another 25 bps to 2.25%

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The monetary policy committee (MPC) of Bank Negara Malaysia announced today that it has raised the overnight policy rate (OPR) by 25 basis points, raising it to 2.25%.

This came amid rising food and energy prices.

“The ceiling and floor rates of the corridor of the OPR are correspondingly increased to 2.5% and 2%, respectively,” it said in a statement.

In May, the central bank raised the OPR to 2% from 1.75%, reportedly the lowest on record, following a 25 bps cut in July 2020, citing the severity of the global economic slowdown as a result of the pandemic and the contraction of Malaysia’s economic activity.

In a statement issued after the MPC meeting today, BNM noted that the reopening of the global economy and the improvement in labour market conditions continued to support the recovery of economic activity.

“However, these have been partly offset by the impact from rising cost pressures, the military conflict in Ukraine and strict containment measures in China,” it said.

The central bank noted that inflationary pressures have continued to increase mainly due to elevated commodity prices and strong demand conditions, despite some easing in global supply chain conditions.

Consequently, it expects central banks to continue adjusting their monetary policy settings, some at a faster pace, to reduce inflationary pressures.

“Going forward, the pace of global growth is expected to moderate, and will continue to be affected by the elevated cost,” BNM added.

BNM noted that in Malaysia, economic activity has strengthened in recent months as reflected in the growth momentum in exports and retail spending as the nation makes the transition into endemicity.

It said the unemployment rate also declined with higher labour participation and improving income prospects.

“Looking ahead, while external demand is expected to moderate, weighed down by headwinds to global growth, economic growth will be supported by firm domestic demand,” it added.

Year-to-date, inflation averaged 2.4% and it is project to be within the 2.2% to 3.2% range for the year but the headline inflation may be higher in some months due mainly to the base effect from electricity prices.

“Nevertheless, the extent of upward pressures on inflation will remain partly contained by existing price controls, fuel subsidies and the continued spare capacity in the economy,” it explained.

Moving forward, the committee said, the inflation outlook would hinge on global commodity price developments, mainly due to the conflict in Ukraine and prolonged supply related disruptions, as well as domestic policy measures.

“On the back of the positive growth prospects for the Malaysian economy, the MPC decided to further adjust the degree of monetary accommodation,” the statement said.

BNM also pointed out that the reopening of international borders on April 1, 2022 would facilitate the recovery of the tourism sector while investment activities and prospects would continue with the realisation of multi-year projects.

It cited a weaker-than-expected global growth, further escalation of geopolitical conflicts, and worsening supply chain disruptions as key downside risks to growth.

It said that at the current OPR level, the stance of the monetary policy would remain accommodative and supportive of economic growth.

Source: FreeMalaysiaToday.com

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