The Seberang Perai City Council (MBSP) is currently drafting a post Covid-19 economic development plan, emphasising the importance of digital development and circular economy.

Its mayor Datuk Rozali Mohamud said the plan would concentrate on solving the current local issues.

“It includes effort to improve the people’s quality of life, implement a smart waste management system, flood mitigation, traffic dispersion, payment gateway and to ensure an efficient counter service and safety.

” I really hope all the Seberang Perai residents can actively involve themselves in the circular economy.

“Besides that, they must continue the battle against the Covid-19 pandemic by following the standard operating procedures (SOPs).

“I am keeping my fingers crossed that the people can be vaccinated by this month to hopefully break the chain of infection,” he told Buletin Mutiara in an interview recently.

On the challenges facing the MBSP frontliners when they carry out their duties, Rozali pointed out that physical distancing is of paramount importance.

“The public must play their roles to adhere to the SOPs while they need to understand the sacrifices by frontliners to ensure public health and safety.

“At the same time, I would like express my gratitude to all MBSP frontliners for carrying their tasks diligently.

“For example, they prioritise their jobs by ensuring cleanliness in the residents’ neighbourhood,” he said.

Touching on MBSP’s effort to reduce the people’s burden during the pandemic, Rozali said the council has implemented five strategies and 19 initiatives to control the pandemic outbreak.

The strategies are issue management and action plans; implementation of action plans and compliance monitoring; information delivery and people’s interaction; economic stimulus programme and MBSP frontliners’ welfare programme.

Besides that, the current 19 initiatives are being implemented smoothly.

On the installation of closed-circuit televisions (CCTVs) on mainland, Rozali said a total of 198 cameras have been installed.

“Out of the 198 cameras, 25 are equipped with various functions, which include plate recognition, facial recognition and vehicle counting.

“We are also planning to develop the city’s dashboard to reduce traffic congestion,” said Rozali.

Source: Buletin Mutiara

In spite of the Covid-19 pandemic and a partial lockdown reintroduced from Jan 13, the outlook of the property sector will remain largely stable for the first half of 2021, according to Raine & Horne International Zaki + Partners Sdn Bhd senior partner Michael Geh.

Geh believes that the ‘transactional activities’ in the first half of this year would remain ‘brisk’.

To strengthen his view, he elaborated on a few reasons.

“The ‘brisk’ transactional activities in both primary and secondary markets are due to several factors. They include the high-cost savings in exempted payments during the Home Ownership Campaign (HOC), financial institutions’ strong support for the housing loans, especially for first-time home buyers, and low interest rates for mortgages and fixed deposits.

“Besides that, Penang’s overall property transactions have seen a V-curve rebound from 2,102 transactions worth RM1.54 billion in Q2 of 2020 to 4,685 transactions worth RM2.16 billion in Q3 of 2020.

“The rebound was very high, which clearly reflected the confidence of Penangites in the property market.

“The number of transactions has increased to pre Covid-19 level and the overall property transactions are even higher compared to each quarter of 2018 and 2019.

“The achievement was made possible, thanks to various housing policies being implemented such as HOC, waiver of real property gains tax (RPGT) and other measures, ” Geh, who is also the Chartered Valuation Surveyor, told Buletin Mutiara.

The immediate past president of the International Real Estate Federation (FIABCI) also noted that many property owners took the opportunity to transfer their properties to their children or relatives.

Apart from that, Geh said the residential properties in Penang rebounded to almost the same transactions in the last quarter of 2019 by recording 3,446 transactions worth RM1.3 billion in Q3, which was more than double that of 1,545 transactions worth RM620 million in Q2.

The number of commercial properties transacted in Q3 has also increased but the value has dropped.

A total of 223 units worth RM480 million were transacted in Q2 while a total 379 units were transacted in Q3 but it was only valued at RM300 million.

Geh also commended the Penang government for providing ample affordable housing units to Penangites.

On the Penang House Price Index reaching a plateau since 2013, Geh attributed it to the state’s push for affordability units.

Source: Buletin Mutiara

About The Stone

An affordable housing development by PLB Land in Paya Terubong, Penang. It is located immediately opposite Majestic Heights, only 1km away from EcoTerrace condominium by EcoWorld. Featuring 1,000 units of affordable houses.

(Photo source: Facebook)

Find out more about The Stone

Bintai Kinden Corporation Bhd has proposed to diversify into the property development and management business to reduce its reliance on the mechanical and electrical engineering business. Under the proposal, the company will undertake two mixed property development and management projects, namely “Holistica Melaka” and “Holistica Penang” with healthcare facilities and wellness services in Melaka and Penang.

Holistica Penang, with an estimated GDV of RM83.7 million is a lifestyle condotel development project in the heart of George Town. It is strategically located on a 0.6-acre land along Burma Road, adjacent to The Penang Chinese Chin Woo Athletic Accociation.

The proposed project will feature a 21-storey building with 98 condotel (condominium operated with hotel services) units.

Project Name : Holistica Penang
Location : George Town
Property Type : Hotel residence
Total Units : 98
Developer : Bintai Kinden Corporation Bhd

Location Map:

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.

A law to stop landowners from evicting tenants or raising rentals indiscriminately will be tabled next year, says housing and local government minister Zuraida Kamaruddin.

She said the Residential Tenancy Act, which will also seek to protect the rights of landowners, is expected to be tabled in Parliament in the first quarter of 2022.

She said the Act, which was originally slated to be tabled this year, will take into account the interests of both landowners and tenants while ensuring that owners do not raise rental rates or evict tenants at their whims and fancies.

“The Residential Tenancy Act is now at the preparatory stage. This Act will offer protection to tenants,” she told FMT.

This follows an FMT report highlighting the plight of young workers living in “storeroom-like” conditions in the Klang Valley as a result of high rental rates.

Salkukhairi Abd Sukor, president of Persatuan Guaman Hartanah Malaysia, had urged Putrajaya to speed up the introduction of the Act to prevent landlords from imposing unreasonable rates.

In August last year, Zuraida’s deputy, Ismail Muttalib, said the government was expected to table the much-anticipated Act this year.

Source: FreeMalaysiaToday.com