Sky Residence Prai, The Ascott Limited’s (Ascott) first serviced apartment in Penang, has opened.

Ascott is a wholly-owned subsidiary of CapitaLand Investment. Sky Residence Prai is its ninth operational property in Malaysia.

With over 6,700 units in 26 properties across 11 cities, the addition of the serviced apartment will strengthen Ascott’s leadership position in Malaysia.

Sky Residence Prai, located in Bukit Mertajam near Icon City and Juru Sentral, is set to provide world-class hospitality standards.

Ascott’s country general manager for Malaysia, Mondi Mecja, said in a statement that the apartments are intended to meet the needs of both business and leisure travellers.

There are 168 modern units ranging from studios to two-bedroom apartments.

The fully furnished apartments have a modern interior design.

The recreational area on levels 8 and 39 of the property also has a variety of amenities.

Source: NST Online

Proposed residential development by Sunway Bintang Sdn. Bhd. at Bukit Mertajam. Located off Persiaran Sunway Wellesley, next to Sunway Wellesley gated and guarded housing scheme. It is just a mere minute’s drive to Bukit Mertajam town centre with an abundance of essential amenities within 5 minutes drive.

This development will see three new phases of gated and guarded housing schemes, featuring a total of 696 townhouse units. Each phase will have it’s own clubhouse with facilities such as a community hall, swimming pool, gymnasium and guardhouse. Future development will include 26-units of 3-storey shop offices.

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

Project Name : (to be confirmed)
Location : Bukit Mertajam
Property Type : Gated and guarded townhouse
Tenure: (to be confirmed)
Built-up Size: (to be confirmed)
Total Units : 696 (residential)
Indicative Price : (to be confirmed)
Developer : Sunway Bintang 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.

The proposed amendments to the Housing Development (Control and Licensing) Act 1966 (Act 118) is expected to be tabled in Parliament in the third quarter of 2022, in an effort to address issues concerning abandoned housing projects and prevent such problems in the future.

Housing and Local Government Minister Datuk Seri Reezal Merican Naina Merican said the move to amend the Act is in line with the country’s housing development direction and the adoption of the Build-Then-Sell (BTS) concept.

He said among the proposed amendments is that the Sales and Purchase Agreement (SPA) payment under Schedule G and H will be more similar to the BTS concept involving an advance payment of 40%, while the remaining amount is to be paid after the buyer receives the vacant possession notice, supported by the Certificate of Completion and Compliance (CCC) from the developer.

“The payment claim by the developer will be deducted 5%. For example, if the claim is 40%, then the buyer will only have to pay 35%. The remaining amount will be made after the project gets the CCC.

“This is to prevent (the developer) from making claims that do not match the certified work,” he said during the question and answer session at the Dewan Rakyat on Thursday (Nov 11).

He was replying to a question from William Leong Jee Keen (PH-Selayang), who wanted to know whether the government would adopt the BTS 10:90 concept to address the problem of abandoned housing projects.

Under the BTS 10:90 concept, buyers are required to make a 10% downpayment of the property’s purchase price, while the remaining 90% can be paid when the house is ready.

Reezal Merican said with the amendment of the Act, the government is of the view that the adoption of the BTS concept in the country’s real estate industry can be implemented comprehensively after 2023.

Source: EdgeProp.my

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Crown Penang, a joint venture serviced residence development between Ivory Properties Group and Chin Hin Group Property Berhad at Seri Tanjung Pinang. Strategically located near Jalan Seri Tanjung Pinang, on a 2-acre land between The Tamarind executive apartment and Marinox Sky Villas condominium. It is just a stone’s throw away from Gurney Drive and Straits Quay, with an unobstructed panoramic view of the man-made island of STP2.

This development will see the construction of a 40-storey building, comprising 30 levels of serviced suites and 8 levels of car parking podium.

Project Name : Crown Penang
Location : Seri Tanjung Pinang, Tanjung Tokong
Property Type : Serviced residence
Tenure: (to be confirmed)
Built-up Size: 614 sq ft to 1,851 sq ft
Total Units : 588
Indicative Price: RM704,000 onwards
Developer : Ivory Properties Group & Chin Hin Group Property Berhad