A proposed luxury residential development by Crescent Consortium Sdn. Bhd. at Batu Ferringhi. Located on a 5.8-acres land along Jalan Batu Ferringhi, next to Bayu Ferringhi Condominiums. It is just a short drive to the famous tourist belt of Batu Ferringhi,  about 2km to Uplands International School.

This development will see the construction of two 37-storey condominium blocks, featuring 174 residential units with three different layout type to choose from:

• Type A – 114 units (1,781sq.ft.)
• Type B – 58 units (1,122sq.ft.)
• Type C – 2 units (2,349sq.ft.)

There will be six levels of car parking podium and the facilities will be located at level 7 and roof-top.

The project is still pending approval. More details to be available upon official launch.

Project Name: (to be confirmed)
Location : Batu Ferringhi
Property Type : Condominium
Total Units : 174
Built-up Size: 1,122sq.ft., 1,781sq.ft. & 2,349sq.ft.
Land Tenure : (to be confirmed)
Indicative Price : (to be confirmed)
Developer: Crescent Consortium 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.

With just three simple steps, four individuals walked away with their dream homes.

They took part in the ‘Vax to Win Campaign’ last year, initiated by Aspen Group to promote Covid-19 vaccination among Malaysians.

It required the participants to upload their digital vaccination certificate, answer a few simple questions and create a catchy slogan based on the theme ‘Emerge Stronger for the Nation’ in no more than 20 words online.

The campaign, which started in June last year and ended on March 31 this year, saw the participation of over 6,000 people nationwide.

Twenty-eight individuals were shortlisted as winners. The grand prize winner walked away with a unit of Aspen’s very own Batu Kawan Resort Home, called the Vertu Resort.

Meanwhile, the first to third prize winners bagged a unit of the Vivo Executive Apartment in Batu Kawan each.

The fourth to seventh prize winners took home RM15,000 worth of IKEA gift cards; while the remaining 20 consolation prize winners, brought home IKEA gift cards worth between RM5,000 and RM10,000.

The grand prize winner was Hong Siew Hong, while the first, second and third prize winners were Yazid Ismail, Lim Seng Huat and Ong Chee Beng respectively.

Yazid, who is a policeman from Seberang Perai, was glad to have won a Vivo Executive Apartment unit.

“I am happy to win this property but I do not have any plan as to when will I be moving into this unit yet,” he said.

Hong’s son Goh Sau Hong, 30, who was present, was equally delighted that his mother had won the grand prize.

“It was like a dream come true,” he said.

Aspen Group executive deputy chairman Datuk Seri Nazir Ariff said the nationwide campaign was launched in conjunction with the country’s 64th National Day last year when the Covid-19 vaccination drive was into its second phase and many controversies about the vaccine arose.

“Despite many uncertainties, many Malaysians took the courageous step of being inoculated to emerge stronger from the Covid-19 pandemic.

“That is the spirit with which we wanted Malaysia to forge ahead, with renewed vigour and a positive outlook.

“That was the sole reason why we launched this campaign nationwide. We played our part in accelerating the vaccination process while encouraging Malaysians to get vaccinated. In return, we gave them a deserving chance to be rewarded with these prizes.

“I wish to congratulate all the 28 lucky winners today. You are not only winners but also the representation of our nation’s resilience,” Nazir said in his speech during the ‘Vax to Win Campaign’ prize-giving ceremony at Aspen Vision City Sales Gallery in Batu Kawan today.

Meanwhile, Chief Minister Chow Kon Yeow applauded Aspen for spearheading such an initiative, which was vital during the time of many controversies surrounding the issue of vaccination.

“The state government is proud to see Penangites, especially eligible adults who have completed their two doses of vaccine.

“Nonetheless, the state will not let its guard down and will continue to spearhead its vaccination efforts.

“I hope that with initiatives not only from the state government but also from the private sector, Penang will be the first state to complete its vaccination process among its population.

“As for today, I must say, winning such prizes, which include one high-end condominium and three executive apartments, piqued my interest.

“These homes, as well as the gift cards, will undoubtedly mean a lot to the winners, and I am delighted for all of them.

“Having said that, I look forward to more visionary efforts from Aspen Group that will benefit the people,” Chow said during his speech.

Source: Buletin Mutiara

Penang will need to look at the rules and regulations concerning homestay in private condominiums and high-rise apartments, says state executive councillor Yeoh Soon Hin.

Admitting that it is a long-standing issue, Yeoh said there is no problem for the units to be used for short-term homestays if they come with a commercial title.

The problems, he said, are those for residential purposes as many complaints have been received from the local dwellers over the nuisance caused by the holidaymakers.

“To regulate the homestay, many agencies need to be involved, like Motac (Tourism, Arts and Culture Ministry), local councils, housing and not tourism per se.

“We need to take care of the local residents. It is still considered illegal from the point of law (for residential units to be used for homestay). Some countries have banned Airbnb while some have come up with rules to regulate the short-term stay.

“What we lack in this country now are rules and regulations,” Yeoh, who is in charge of the state’s Tourism and Creative Economy portfolio, said in reply to reporters’ questions after launching the 2022 High Fun Penang at The Top Penang in Komtar today.

Yeoh said those units, like some of the kampung-style homestays regulated by Motac, are allowed to operate.

He added that homestay operators using residential units created unfair competition for licensed hotels that have to pay tax and hotel fees.

State Housing, Local Government, Town and County Planning Committee chairman Jagdeep Singh recently reiterated that if unit owners want to rent their units out to short-term guests or turn them into homestay units, 75% of the residents there must first agree to it.

He said that while the starting date for the ban of homestays in residential units has not been decided yet, the state government has agreed with the plan, based on the numerous complaints from residents’ groups at apartments, condominiums and residential neighbourhoods.

On a separate matter, Yeoh said many hotels in Penang recorded almost 100 per cent occupancy rate over the last few days due to the Labour Day and Hari Raya holidays.

“Some attractions also received good business, like back to pre-pandemic level. However, I still want to say that even though we received an overwhelming response during these long holidays, we are still not out of the woods yet.

“We still need to create more synergy and opportunities, especially to attract more international tourists to sustain our Penang state tourism,” Yeoh said.

Source: Buletin Mutiara

Ion Vivace, a serviced residence development by Innoceria Sdn. Bhd. near Batu Kawan. Located along Jalan Perniagaan Vorteks 3, next to the semi-detached shop offices at Vortex Business Park. It is less than 2km from Bukit Tambun Toll Plaza, about 10 minutes drive to Penang 2nd Bridge.

This development comprises 2 blocks of 33-storey skyscrapers, offering 528 serviced residence units with built-up sizes ranging from 520sq.ft. up to 1,176sq.ft.

Project Name: Ion Vivace
Location : Batu Kawan / Simpang Ampat
Property Type : Serviced residence
Total Units : 528
Built-up Size: 520sf – 1176sf
Land Tenure : Freehold
Indicative Price : RM290,000 onwards
Developer: Innoceria Sdn. Bhd.

Skim Saraan Bercagar (SSB) by Cagamas is a type of loan for retired homeowners. Through a reverse mortgage, you can generate cash during retirement without sacrificing homeownership. This allows you to continue staying in your family home without repayment during your lifetime. Retired homeowners can use the monthly payout amount for any purpose, such as medical-related expenses and other necessities to make their retirement years more comfortable.

The Skim Saraan Bercagar Loan only requires settlement upon the demise of the borrower or joint borrower, whichever occurs later. No repayment is required during their lifetime and the property will only be sold to settle any outstanding loan amount upon the demise of the borrower or last surviving joint borrower. Any residual balance from that will go towards your estate.

Benefits of Skim Saraan Bercagar (SSB) Reverse Mortgage includes:

• Lifetime tenure
  You’ll have a fixed monthly source of income throughout your retirement years.
• Repayment happens later
  You don’t have to worry about repayment during your lifetime as it will only happen when you or the joint borrower passes away, whichever occurs later.
• Home sweet home
  You are able to reside in your home throughout your retirement years.
• A non-recourse loan
  If the eventual sale proceeds of the property is less than the outstanding loan amount, your family or your estate will not be responsible for any shortfall to settle the Skim Saraan Bercagar Loan.

According to Cagamas, here are a few reasons why you may consider Skim Saraan Bercagar (SSB):

• Ever-increasing cost of living
  The uncertainty of the economy can make retirees worry and be anxious about not having enough money to maintain their lifestyle throughout their retirement years.
• Independent living
  Retired home owners can have more financial independence through SSB in addition to their existing retirement income sources. They would not need to rely on their next-of-kin or other aid for money.
• Future-ready
  Having a ready supplemental income stream through SSB provides the additional financial buffer to cushion challenging times during potential events of crisis in the future. The coronavirus pandemic has resulted in widespread health and economic upheaval for older adults which would have a financial impact on their limited income, and SSB can be a lifeline during such times by providing a fixed monthly income stream for life.
• Mandatory retirement
  Senior citizens who are forced to retire because of age may not be financially ready to leave the workforce. This can result in income insecurity, making them too reliant on pension and savings.

Eligibility Criteria

For borrower:

• Malaysian
• 55 years old and above
• Owner or joint owners of a residential property
• For a joint loan, the joint borrower can be a partner, parent, sibling or child, subject to age limit

For property:

• Residential property in Malaysia held in Borrower’s or joint borrowers’ name(s).
• For a joint Skim Saraan Bercagar Loan, joint ownership of property is required.
• Property must be owner-occupied and be the primary place of residence.
• Free from encumbrances such as mortgage and other financial liabilities.

Details on the SSB can be found at its website: https://www.ssb.cagamas.com.my. Online application is currently open for Klang Valley residents only. It is not known when will this be available for Penang folks.