A total of 38,149 affordable housing units have been built for Penangites.

Penang Local Government, Housing, Town and Country Planning Committee chairman Jagdeep Singh Deo said the affordable homes include those of Type A (low-cost), Type B (low medium-cost) and Type C (below RM300,000).

“Another 18,519 units are in various development stages, while 57,292 units are in the planning stages.

“This means that we have managed to secure1 13,960 affordable housing units for the people of Penang.

“The units are provided by the state government and private developers which are required by the state to build affordable housing units.

“We hope to provide 220,000 affordable homes by 2030. Currently, we have achieved 51.8% of our target,” Jagdeep said at the symbolic handing over ceremony of 1,175 units of Pangsapuri Idaman Prestij (formerly known as K Park) by the developer to Penang Housing Board today.

Jagdeep said out of the 1,175 Type A affordable units of Pangsapuri Idaman Prestij, 612 units would be offered via the state’s rent-to-own (RTO) scheme.

The RTO scheme allows the tenants to become owners after renting for a period of time.

“The project started in 2018 and it took about 36 months to be completed.

“We hope to offer 22,000 affordable homes via the state’s RTO scheme by 2030. We have offered 2,474 units via the scheme so far,” he said.

Source: Buletin Mutiara

Celesta Villa, a proposed small landed residential development by TGB Group at Tanjung Tokong. It is located on a half-acre land along Jalan Bunga Mawar, next to Indah Bay condominium. Within 10 minutes walking distance are SJKC Hun Bin, SK Tanjung Tokong, Tesco Hypermarket, market and several popular eateries.

This will be a strata development featuring only 9 units of 3-storey terrace houses with one lower ground level.

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

Project Name : Celesta Villa
Location : Tanjung Tokong
Property Type : Residential
Total Units: 9
Built-up Area: (to be confirmed)
Indicative Price: (to be confirmed)
Developer : TGB 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 government is looking to extend the Home Ownership Campaign (HOC) until the end of this year, says Housing and Local Government Minister Datuk Zuraida Kamaruddin.

She informed that she had requested Finance Minister Tengku Datuk Seri Zafrul Tengku Abdul Aziz to allow the extension.

“However, the MoF (Ministry of Finance) will probably review the conditions, and they will be a little different from the existing ones,” she told reporters after attending Malaysia’s Best Managed and Sustainable Property Award 2021 here yesterday.

Meanwhile, Zuraida said as of Feb 28, 2021, a total of 34,354 units of houses worth RM25.6 billion were successfully sold for the 2020-2021 HOC campaign, with discounts totalling RM4.3 billion.

The HOC in 2020 was implemented with stamp duty exemption, as well as a 10% discount for eligible applicants to purchase houses worth RM300,000 to RM2.5 million.

Source: EdgeProp.my

Scientex Bhd plans to build more affordable homes in Penang, following the overwhelming response for the company’s maiden Penang township in Tasek Gelugor.

Its chief executive officer Lim Peng Jin said the first phase of Scientex Tasek Gelugor, launched in October 2020 has recorded a take-up rate of more than 90 per cent to date.

Lim said the high take-up for Phase 1 of Tasek Gelugor indicates robust demand for affordable homes in Penang.

Ferringhi Residence 2 Property Showcase is happening this month! It’s your opportunity to own one of the best seaview condo in Penang.

Date: 1 – 30 April 2021
Time: 10am – 10pm
Venue: TESCO Tanjung Tokong (in front of Watson)

For more information, please contact Mah Sing Group at 04-291 3109