UDA Holdings Bhd (UDA) continues to drive the development of wakaf properties in Penang through the launch of its latest project, Wakaf Seetee Aisah 2.

The project, located in Seberang Jaya, is a mixed development on 7.23 acres of land and will provide 611 residential and commercial units.

This is a strategic collaboration between UDA, which is also a property developer, asset management, facilities, hotel and agency under the Ministry of Entrepreneur and Cooperative Development (MEDAC) with the Penang Islamic Religious Council (MAINPP), as the trustee of the land.

UDA chairman, Datuk Norliza Abdul Rahim, said his party, as the head of wakaf property development, would continue with their main focus, which was to encourage property ownership, especially in the city.

“This effort can also increase the value of wakaf land as well as generate positive results and contribute to the economic growth of Muslims in Malaysia,” he said in a statement.

Wakaf Seetee Aisah 2 is divided into three phases comprising 150 units of low cost apartments namely Asnaf residences (Phase 1), 422 units of condominiums (Phase 2) and 32 units of four -storey shop lots as well as a seven -storey office building block, surau and convention hall (Phase 3).

The project with a gross development value (GDV) of RM187 million will be launched in June this year (Phase 1 & 2) and early next year (Phase 3).

Meanwhile, UDA President/Chief Executive Officer, Sr Mohd Salem Kailany, said this effort was in line with his party’s focus, which was to empower the ummah through the development of wakaf land in strategic urban areas.

He said, this initiative is also expected to increase public awareness regarding the wakaf property development industry which has high potential and is able to generate income to support the economy of the ummah.

“Wakaf Seetee Aisah 2 is developed on wakaf land, so it has the concept of leasing with MAINPP for 99 years and is only open to Muslims.

“Condominiums (422 units) with an area of ​​950 square feet to 1,100 square feet can be owned with prices starting at RM299,000, are suitable for own stay s as well as future investments.

“The price offered is 30 per cent lower than the current property price,” he said.

The Wakaf Seetee Aisah 2 project is strategically located minutes away to the North-South Highway, Penang Bridge, Butterworth Outer Ring Road and Butterworth Ferry Terminal.

In addition, it is located close to Seberang Perai industrial park as well as surrounded by various facilities such as hospitals, schools, institutions of higher learning, shopping malls and leading hotel chains.

Source: BH Online

About Nusacinta @ Setia Fontaines

The second residential component to be launched in the 1,675-acre Setia Fontaines master-planned township development by SP Setia. This will be the first gated residential precinct located next to the 63-acre man-made lake with a musical fountain. It comprises a total of 294 landed residential units, offering a few types of landed houses with built-up size ranging from 1,332 sq.ft. up to 2,943 sq.ft. Indicative price starts from RM420,000 onwards.

Find out more about Nusacinta @ Setia Fontaines

Located along Penang’s famed Gurney Drive, this all-new landmark opens its doors to the public yesterday.

Gurney Walk has a vibrant mix of tenants including international brands such as The Coffee Bean & Tea Leaf and Subway, as well as local, home-grown names such as Yin Sourdough, Four Spoons, Cueva and Urban Republic, some of which are making their debut in Penang.

Additionally, an entire floor within Gurney Walk will be dedicated to wellness, anchored by the 3,500 sq-feet Areoma Boutique Spa. Visitors can also look forward to other wellness offerings, F&B outlets, hair and nail salons, local artisanal offerings and a plethora of pop-up stores slated to open in the near future.

Connected to Ascott Gurney Hotel, Gurney Walk also expects crossovers from the hotel’s guests with a number of cross-promotional activities in the pipeline.

Gurney Walk will also curate and feature art exhibitions and workshops, amidst other planned offerings and community-centric events.

Gurney Walk is situated in the heart of Gurney Drive, a stretch synonymous with street food and hawker centres, with hotels, condominiums and office buildings. The area serves as a pit stop between Penang International Airport and Batu Ferringhi beach, and is in close proximity to affluent suburbs of Pulau Tikus and Tanjung Bungah.

Source: TheVibes.com

The Penang government plans to attract 50 digital companies and create 2,000 high-income jobs in the next three years.

Chief Minister Chow Kon Yeow expressed his hopes that these companies would invest, set up their operations, and serve as the anchors of the digital ecosystem in the newly-launched Creative Digital District (CD2) or CD Square in George Town.

“We hope to welcome more companies to be part of this ecosystem in the future as digitalisation has now become an important aspect in our daily lives.

“We were developing the manufacturing industry in the past, and we are now trying to rope in the electrical and electronics (E&E) companies in the state to be part of our digitalisation efforts.

“We want to use E&E companies to build a digitisation path.

“In terms of creative economy, the George Town Festival, led by Penang Tourism and Creative Economy (PETACE), has become a renowned annual event showcasing our talent in creative arts.

“In fact, CD Square is proud to have eight companies that have expressed their commitment to establishing a centre in Penang. They are Angkasa-X, BlueSkies, Censof, CTAPPS, Finexus, Karuna Sarawak, Securemetrics, and TriAset.

“Bringing the creative and digital communities together will result in a thriving innovative ecosystem,” Chow said after launching the Creative Digital District (CD2) or CD Square at UAB Building in China Street Ghaut last week.

The launch was also streamed live on Digital Penang’s Facebook page.

Creative Digital District (CD2), spans about 114 acres along Weld Quay-Light Street-Jalan Masjid Kapitan Keling-Acheh Street.

This is in line with the Penang2030 vision, which is to implement place-making initiatives that serve as a catalyst for a liveable and resilient environment.

Chow said in Penang, there were a total of 10 industrial parks and a MSC Global Business Services zone in Suntech City.

“I am pleased that today we are designating this heritage area as the first Creative Digital District (CD2) in George Town.

“The goal is to create a digital ecosystem of tech start-ups, entrepreneurs, digital services and software companies that can innovate in an environment that promotes Live, Learn, Work and Play, while retaining the heritage character.

“I look forward to seeing the fusion of heritage and digital in the Creative Digital District (CD2) in the future.

“I believe that our academic institutions such as Universiti Sains Malaysia (USM), Wawasan Open University (WOU), The One Academy and others will produce great minds for careers in the creative and digital industries,” he said.

Chow also took his time to visit the exhibition by several digital start-ups and the creative showcase by local artists.

(Images source: Digital Penang)

Source: Buletin Mutiara

A proposed commercial development by Sunrich Capital Sdn. Bhd. in George Town. Strategically located on approximately 1 acre of land along Jalan Sultan Ahmad Shah, in between Ambank and NSTP building. It is only a mere minute’s drive to KOMTAR and Penang’s most popular tourist destination – Gurney Drive.

This development will see the construction of a 39-storey serviced residence, featuring 508 unit of services suites and nine levels of car parking podium. There will also be four units of shot offices located at the ground level. Recreational facilities will be located at level 38.

The project is still in the planning stage. More details to be available upon official launch.

Project Name : (to be confirmed)
Location : George Town
Property Type : Serviced residence
Tenure: (to be confirmed)
Built-up Size: (to be confirmed)
Total Units : 508
Indicative Price : (to be confirmed)
Developer :Sunrich Capital Sdn. Bhd. (GSD Land)
Last Updated: June 2023

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.