The Al-Itqan Education Centre in Teluk Kumbar near here is scheduled for completion in 2023 and will begin its intake in the same year, said Penang Chief Minister Chow Kon Yeow.

He said the education centre, comprising four blocks of five-storey buildings, would be built on a three-acre (1.2ha) site.

The Al-Itqan Education Centre will consist of 51 classrooms which can accommodate around 1,000 students, and facilities such as four laboratories, four meeting rooms, three multi-purpose halls and two prayer rooms.

“The proposed Al-Itqan Education Centre is estimated to utilise up to RM15 million in construction cost, and the Ideal Property Group, a Penang-based property developer, will undertake the construction,” he said in his speech at the groundbreaking ceremony.

Speaking at a press conference later, he said the project had gone through a number of postponements in the past few years due to the process of planning and approval.

He said the proposed education centre was part of the compliance process implemented by the state government and the local council for the developer undertaking an affordable housing project in Bukit Gelugor.

“Since there are already sufficient schools nearby the (affordable housing) project site, we took the opportunity to assist the Al-Itqan Education Centre to realise their wish for the building block,” he added.

He said several schools had been built under the compliance policy for the past 10 years.

Source: Bernama

An apartment block known as the Mak Mandin People’s Housing Project (PPR) consists of 70 three-bedroom units now completed and being offered to qualified first home buyers.

Penang State Exco for Housing, Local Gov and Town & Country Planning, Jagdeep Singh Deo informed that the State Government today through the Rent-to-Own (RTO) will try to help eligible citizens to own their first home in the Affordable Housing (RMM) Type A and Type segments B.

“Together with us this morning are part of the recipients, namely 20 people out of a total of 70 recipients.

“Currently 34 units are being offered to the eligible buyers with the remaining 36 units that will be offered in the next phases.

“The amount to be paid each month is RM310 for 19 years and five months with a deposit of RM1,120,” he explained at the PPR Mak Mandin Flats Rent-to-Own Scheme offer letter handover ceremony here on April 24, 2021.

Following the completion of the Mak Mandin PPR project, Jagdeep who is also the Chairman of the Housing Selection Process Enhancement Committee  (SPEC) expressed his appreciation to the Ministry of Housing and Local Government (KPKT) for increasing the number of PPR units compared to 999 units previously.

In a related development, Jagdeep, who is also the State Assemblyman (ADUN) Datuk Keramat, also said that the State Government today since 2009 has spent about RM271,207,877.30 for the maintenance of all public and private housing projects.

Source: Buletin Mutiara

About Metropol

A mixed development by Ramana Property at Bandar Perda in Bukit Mertajam. It is located near Jalan Perda Utama roundabout, featuring less than 10 minutes drive from Penang bridge. Featuring 326 residential units with built-up size ranging from 810sq.ft. to 1,845sq.ft. Amenities such as schools, hypermarket, banks, shopping malls, and eateries are only a few minutes drive away.

Find out more about Metropol

Yet another proposed commercial development by Ideal Homes Properties Sdn. Bhd. at Bayan Lepas. Strategically located off Jalan Tun Dr. Awang, right next to Straits International School and Bayan Lepas Roundabout near Penang International Airport. It is only 10 drive away from Bayan Lepas Free Industrial Zone. Neighboring housing communities include Summerskye Residences, The Amarene, Fiere Vista, Solaria Residence, Sathu Terraces and a few others.

This development will see the construction of a 21-storey commercial building with two towers. The number of office suite units avaialble is yet to be known. There will be a 10-level car parking podium with shop office located at the ground level.

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

Project Name : (to be confirmed)
Location : Bayan Lepas
Property Type : Commercial
Land Tenure: (to be confirmed)
Built-up Area: (to be confirmed)
Total Units : (to be confirmed)
Developer : Ideal Homes Properties Sdn. Bhd. (Ideal Property Group)

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 Malaysian property market has been fairly sustainable as it underwent a consolidation mode despite the COVID-19 pandemic in the past 12 months.

Integrated real estate solutions provider Jones Lang Wootton (JLW) deputy managing director Prem Kumar said the pandemic is a blessing in disguise as it brought background issues of the market to the forefront to be given more focus by developers and the government.

“Some of the issues we saw was the oversupply in the office segment. Now developers in the commercial side have taken few steps back and stop any new office development at this juncture and focus on other types of products that can sell and be sustainable and not becoming a white elephant,” he said in a virtual roundtable panel organised by PropertyGuru Group today.

He said affordable housing is also given more attention as authorities and developers reassessed and refocused on what is required to ensure both consumers and developers could reach a balance in terms of product offering and expectations in the future.

Prem Kumar said although the National Property Information Centre (Napic) reported a decline in the overall property sector in 2020, the market was already in a downtrend since 2017/2018 due to those prevailing issues.

However, he said the reduction in the number of transactions does not show any significant indicators or having a huge potential of collapse.

He said COVID-19 itself was not the main reason for the softer property market but more to the supply and demand factors, as well as the market concentration that led to it.

“COVID-19 has opened the eyes of many stakeholders of how the market can be versatile and be sustainable.

“As the property market is readjusting itself, this will also lead to greater stability for the real estate market in the future,” he added.

The session was organised in conjunction with the PropertyGuru Asia Property Awards (Malaysia) 2021 that will be held on Sept 15, 2021.

Highlights of the gala event will be aired on the History Channel, the official cable TV partner of the award, to give the programme a more international scope.

Last year, the award’s online gala series, which included the first virtual gala edition of the award, was viewed more than 516,000 times and reached viewers and property investors in more than 75 countries worldwide.

Napic reported that the Malaysian property market recorded 295,968 transactions worth RM119.08 billion in 2020, a 9.9 per cent and 15.8 per cent year-on-year decline in volume and value, respectively, compared with 2019.

Organised by Southeast Asia’s leading property technology company, PropertyGuru Group, the 8th PropertyGuru Asia Property Awards (Malaysia) programme is supported by platinum sponsor Kohler; official portal partner PropertyGuru.com.my; official cable TV partner History Channel; official magazine PropertyGuru Property Report; official PR partner Klareco Communications; media partners Penang Property Talk, KopiandProperty.com, Malaysian Business, and The Grid; official charity partner Right To Play; official ESG partner Baan Dek Foundation; and official supervisor HLB Ler Lum Chew.

Source: Bernama