Long established as one of the most well-known tourist destinations and a booming industrial hub in Malaysia and Southeast Asia, Penang has always been a prime location for homeowners not only because of its vibrant economy but also due to Penang’s strategic air connectivity to many other cities in the region and beyond.

This rising demand has led to the mushrooming of numerous property developments across the island in recent years. However, when it comes to modern living of exceptional standard, the E&O Group’s latest project, known as Andaman, will emerge as the prime choice for those who seek to live in tranquillity while also enjoying the convenience of urban lifestyle.

As an island, Andaman is well-connected to the main island of Penang through two strategically located bridges, namely the Andaman Bridge which was completed early of this year and Gurney Bridge which are expected to be completed by 2024. The former connects the Andaman with Seri Tanjung Pinang while the latter leads directly to Gurney Drive’s up and coming public waterfront park known as the Gurney Wharf which is expected to house a variety of retail establishments, restaurants and a skate park. Besides that, residents will have convenient access to George Town, Pulau Tikus, Tanjung Tokong and Batu Ferringhi.

The infrastructure of Andaman such as the beautifully landscaped parks, pedestrian walkways and retail spaces are carefully designed to strike a perfect balance between tranquil island life and exciting urban living for homeowners as it incorporates the elements of green living and community building which enables future generations to live and thrive.

Apart from world-class education, residents can also expect high quality health and wellness amenities which will be made available together with other facilities all conveniently located within Andaman.

Equipped with up-to-date security and dotted with jogging tracks and cycling paths, Andaman is set to redefine the standards of a well-planned neighbourhood where residents can walk and cycle in a safe environment, thus, promoting a healthier lifestyle among residents.

With the aim of meeting environmental-friendly requirements and promoting sustainable living, the E&O Group has gone the extra mile to integrate green building technology and sustainability in this latest project. This can be seen from the landscaping and conceptual planning of buildings implemented throughout Andaman.

Other than that, the E&O Group also sought to achieve the recognition of the Green Building Certification by minimising the use of virgin materials which contribute towards negative environmental impacts. As an alternative, materials and finishes that are certified as environmentally friendly with lower carbon footprint and longer life cycle, such as low VOC (volatile organic compound) paint and coating will beused extensively throughout the construction.

More importantly, energy-efficient initiatives such as enhancing the natural ventilation and minimising the usage of air conditioning will also be implemented in common areas. Apart from that, to minimise water wastage, rainwater harvesting initiatives will also be implemented as well.

Residents of Andaman will find themselves pleasantly surrounded by over 90 acres of lush greenery which will be turfed and landscaped to reduce the heat of the tropical climate. The earlier mentioned spacious pedestrian walkways, jogging tracks and cycling paths  extends beyond Andaman, seamlessly connecting it to the neighbouring Gurney Wharf to encourage residents to enjoy their leisure time at a slower pace by walking and cycling.

As evidenced by the strong track record of Seri Tanjung Pinang, Andaman is poised to be the next prime address in Penang, offering not only a holistic lifestyle to homeowners, but also an investment opportunity not to be missed.

For more information, visit https://www.easternandoriental.com/themeg/.

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A newly proposed mixed development by Frazel Property Sdn. Bhd. at Bukit Minyak. Strategically located along Jalan Permatang Tinggi, right opposite Eagle & Pagoda Brand Teck Aun Medical Factory. It is just a stone’s throw away from Bukit Minyak Industrial Park, with easy access to neighboring townships namely Juru, Bukit Minyak, Kota Permai, Permatang Tinggi and Alma.

This development comprises few commercial components, to be completed in multiple phases:

• Phase 1: 3-storey commercial building with supermarket
• Phase 2: 1-storey drive-thru (2 units)
• Phase 3: 3-storey shop office (17 units)
• Phase 4: 27-storey serviced apartment (218 units) with swimming pool.

The project is now pending approval with more details to be available upon official launch.

Project Name: (to be confirmed)
Location : Bukit Minyak
Property Type : Commercial
Built-up Size: (to be confirmed)
Land Tenure : (to be confirmed)
Indicative Price : (to be confirmed)
Developer: Frazel Property Sdn. Bhd.

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.

Despite the welcoming Budget 2023, the Real Estate and Housing Developers Association (Rehda) Malaysia will appeal to the government to consider extending the 75% stamp duty exemption to all buyers which will end on Dec 31, 2023.

President Datuk NK Tong said the duty stamp is not just for first-time homebuyers as it will benefit a wider pool of buyers, especially the upgrades.

“Given the myriad of issues facing the construction and property industry as outlined in our Budget 2023 memorandum to the government, we had also expected the government to take bigger measures to alleviate some of these concerns, such as the hike in building material prices and labour shortage issues which are adversely affecting the industry.

“Despite this, Rehda pledges to continue our engagements and discussions with all industry players, and will still march ahead in our nation-building role of providing quality, affordable homes for the rakyat,” he said in a statement last Friday.

He said Rehda places high hopes in the responsive, responsible and reformist agenda as defined in the Budget 2023 announcement in its biggest allocation yet at RM372.3 billion and he believed that this objective is obtainable.

He said this will complement the previously announced 100% stamp duty exemption for the memorandum of transfer for houses priced RM500,000 and below until the end of 2025.

“The government’s generosity to only impose an RM10 stamp duty for transfers made by way of gift between family members is also deeply appreciated and impact on the housing sector.

“Currently, only transfers between husband and wife are given a full 100% exemption, while transfers between parent and child are given an exemption of 50%.

“Future homebuyers will also benefit from the RM3 billion allocation for Syarikat Jaminan Kredit Perumahan Bhd for 12,000 borrowers, which will surely provide some relief to those without a fixed income, such as gig economy workers,” Tong added.

Rehda also welcomed the government’s renewed commitment to the lower income group with RM367 million allocation for new Program Perumahan Rakyat (PPR) projects in Terengganu and Perlis and RM358 million for Program Rumah Mesra Rakyat.

“Collectively, this will benefit more than 16,000 bottom 40% income group households. The measure to increase the allocation to construct and repair houses in rural areas from RM361 million to RM460 million, the increased ceiling rate to build new homes and the construction of 3,000 new homes.

“This including in Sabah and Sarawak further proves the government’s dedication to ensuring quality living and homes for all Malaysians,” he said.

Meanwhile, Mah Sing Group MD Tan Sri Leong Hoy Kum said Budget 2023 saw practical measures which will not only make Malaysia a more attractive labour market but also put more disposable income in people’s pockets, which allows them to spend on value-accretive assets like properties.

“The exemption of 75% of stamp duty on the sales and purchase agreements of properties priced between RM500,001 to RM1 million will also pique the interest of middle-to upper-income first-time homebuyers as well as those who are looking to upgrade their property,” he said in a statement last Friday.

He added that the RM10 stamp duty for family property transfers will alleviate the burden on buyers while encouraging housing transactions in the property market, which will boost the housing market during this trying time.

Meanwhile, the 2% reduction in the resident income tax rate for the majority of taxpayers will increase the cash flow in hand, easing the financial burden on individuals and allowing them to make long-term plans such as property purchases.

Source: The Malaysian Reserve

About TreeO

Affordable housing development by Hunza’s wholly-owned unit, Diamaward (M) Sdn Bhd, at Sungai Ara. It is located next to Taman Sungai Ara, about 1.5km away from SJK(C) Chong Cheng. This development comprises three 49-storey towers offering a total 1,240 affordable units.

Find out more about TreeO

A total of 832 affordable homes were offered at the Penang Affordable Housing Expo 2022 at Prangin Mall in George Town.

Organised by the Penang Housing Board, the three-day expo ended yesterday night at 8pm.

Several renowned property developers, such as M Summit Corporation, Solaris Prestasi Sdn Bhd, Scientex (Skudai) Sdn Bhd, PLB Land Sdn Bhd, SP Setia Sdn Bhd, Jayamas Property Group, Prisma Bumiraya and PDC Properties Sdn Bhd had set up their booths to advertise their affordable housing projects.

State Housing, Local Government, Town and Country Planning Committee chairman Jagdeep Singh Deo said out of the 832 units offered, a total of 300 have been sold.

“This shows the demand for affordable homes, and we are glad to assist the people through such a platform.

“As I have always said, the Penang government will continue to prioritise the delivery of affordable homes for Penangites.

“Our agenda is to provide 220,000 units of various affordable homes in Penang by 2030.

“And I am glad to share that as of now, we have reached 138,544 units that have been built, in various stages of being built and being planned.

“As for this expo, I would like to congratulate the Penang Housing Board for holding yet another important initiative that’s truly crucial for the well-being of the people,” Jagdeep said in his speech.

Among others present were Komtar assemblyman Teh Lai Heng, Pengkalan Kota assemblyman Daniel Gooi and Penang Housing Board general manager Ainul Fadhilah Samsudi.

Source: Buletin Mutiara