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Know your rights as strata property owners, says MBPP mayor

Property News/ 11 March 2021 No comments

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Strata property owners should know their rights involving any issues related to the joint management body (JMB) or management committee (MC) members who are in charge of the building management of strata residences.

Penang Island City Council (MBPP) mayor Datuk Yew Tung Seang said the problem nowadays is that many owners of strata properties are still not aware of what strata actually means and what rights the Strata Management Act (SMA) 2013 entitles them to.

“They should know that strata properties not only refer to high-rise units (vertical strata titles) but also to gated or guarded housings (horizontal strata titles).

“Strata owners also have the right to have an annual general meeting (AGM), which must be held within 14 months after the last AGM.

“They also have the right to elect their management committee members. And it is very crucial for them to elect a responsible and reliable strata management committee to ensure that the common property is well maintained and the house rules enforced.

“It is also a developer’s responsibility to form JMB or MC in stratified residential premises or else we will take stern action against them,” Yew said during his opening remarks of strata management webinar via Zoom today.

According to Yew, Penang has the third-highest number of stratified properties throughout the country.

“Meanwhile, MBPP is the local authority with the second-highest number of stratified buildings after Kuala Lumpur City Hall (DBKL) in Malaysia.

“There are 1,368 stratified schemes on the island comprising 229,485 units,” he said.

Yew also urged strata owners to pay their management bills regularly.

“This is important so that the management body can use the funds towards the betterment of the property, especially in terms of well-maintained facilities.

“At the same time, the management body also should play their part professionally in managing the money by keeping the strata owners updated on the flow of the money,” he added.

Source: Buletin Mutiara

 

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Pearl Impiana @ Pearl City

Simpang Ampat/ 11 March 2021 2 comments

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Pearl Impiana @ Pearl City, yet another addition of a new residential component to the self-contained Pearl City township at Simpang Ampat. It is located along Jalan Tasek Mutiara 7, adjacent to Pearl Residence, Pearl Saujana and Raintree Park. With the proposed access roads connecting Pearl City to Jalan Valdor, driving to SMJK Jit Sin II will take less than 5 minutes.

This development comprises 102 and 46 units of 2-storey terrace and semi-detached houses respectively.

Project Name: Pearl Impiana
Location : Pearl City, Simpang Ampat, Penang
Property Type : 2-storey terrace & semi-detached
Total Units: 102 (terrace), 46 (semi-detached)
Land Area: (to be confirmed)
Built-up Area: (to be confirmed)
Tenure : Freehold
Developer : Tambun Indah
Indicative Price: (to be confirmed)

Register your interest here. We will keep you updated.

(This information will be used to keep you updated on the project and future development.)
*By submitting this Form, you hereby agree to our PDPA Consent Clause.

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SITE PROGRESS: Havana Beach Residences (March 2021)

Property News/ 10 March 2021 No comments

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About Havana Beach Residences

Affordable housing development by Ideal Property Group at Bayan Lepas. Strategically located near Jalan Tun Dr. Awang, less than 2km away from Penang International Airport. It is about 5 minutes walking distance to  SMJK Heng Ee (Bayan Baru branch).

Find out more about Havana Beach Residences

Register your interest here and we will keep you updated.

(This information will be used to keep you updated on the project and future development.)
*By submitting this Form, you hereby agree to our PDPA Consent Clause.

Scientex 2Q net profit up 15% to RM112m on robust property sales

Property News/ 10 March 2021 No comments
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Artist impression of Scientex Tasek Gelugor

Scientex Bhd’s net profit for the second quarter ended Jan 31, 2021 (Q2), rose 15.1 percent to RM112.2 million as compared to RM97.5 million a year ago.

Revenue however fell to RM906.5 million from RM914.4 million previously, the group said in a statement yesterday.

It said the higher net profit was driven by robust property sales and construction progress, as well as stable packaging segment contributions.

“The property development segment reported 12.9 percent higher revenue of RM287.8 million from RM255 million previously.

“This was achieved through steady construction progress of the Taman Pulai Mutiara 2 and Scientex Durian Tunggal townships, higher sales from seven new launches across Johor, Melaka, Selangor, and Penang, as well as maiden contributions from Taman Scientex Kota Tinggi,” it said.

Chief executive officer Lim Pen Jing said the company is strengthening its position to support consumer-centric flexible plastic packaging for essential products, and
expected demand to remain stable.

“Additionally, we are forging ahead in the area of sustainable packaging and are intensifying our collaborations with customers to expand our range of fully-recyclable, sustainable and value-added products.

“Simultaneously, our property segment continues to trudge forward in line with higher sales recorded compared to the previous year.”

This signed the effectiveness of the group’s strategy to continuously expand across Peninsular Malaysia and cross new boundaries, with recent maiden launches in

Tasek Gelugor (Penang), Kundang Jaya (Selangor) and Kota Tinggi (Johor) already contributing positively to our earnings, he added.

Source: TheSunDaily.my

 

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Penang Bay – A potential SDG City Zone to unlock opportunities

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Penang is preparing itself for the next phase of growth and development by incorporating innovative ideas to transform the Penang Bay area into a new Sustainable Development Goal (SDG)-compliant and economic zone.

The Penang Bay area includes the George Town and Butterworth waterfronts.

Think City managing director Hamdan Abdul Majeed said that Penang is land-constrained, hence, the state was looking at how to regenerate and reuse what it has.

“The keyword here is ‘regenerate and reuse’. We are equipping ourselves and creating an enabling environment for the digital age.

“We see George Town as the launchpad for the proposed Penang Bay project. We see the emerging digital sector; new tech companies are already located in George Town, not just co-working spaces but firms that are involved in analytics, designs and technology.

“We are trying to create an ‘intersection’ between culture and heritage with technology and design, by providing infrastructure and improving public realm,” he said after the Penang Bay International Ideas Competition awards ceremony at Wisma Yeap Chor Ee in China Street Ghaut today.

The awards ceremony was conducted virtually, enabling the judges and winners from other countries to take part in the event.

Chief Minister Chow Kon Yeow said the objective of the competition was to solicit ideas for development of the Penang Bay area.

“It is an idea competition. We are not launching a particular project.

“The development potential of the waterfronts has long been neglected.

“We saw the opportunity for a new type of economic development; incorporating the SDG concept and promoting our heritage and creative industry.

“George Town and Butterworth have great potential as logistic hubs. We have been looking at the redevelopment of facilities at the north seafront over the past few years.

“The Penang Bay can considered as a future potential for Penang, spearheaded by the creative economy.

“Investors who have land at the Penang Bay area can look at the potential together,” Chow said.

Earlier in his speech, Chow said it was the state government’s aim to have the Penang Bay listed as an SDG City Zone to unlock opportunities and scale up the initiative.

“It will be the first in Malaysia and an opportunity to transform the urbanisation process for Penang to a more sustainable manner,” he said.

Chow commended the tireless effort of the seven-member jury who evaluated the entries in terms of idea clarity, originality, innovative ideas, economic potential and the consideration of the relevant SDGs.

Penang Local Government, Housing, Town and Country Planning Committee chairman Jagdeep Singh Deo said a total of 79 submissions from 20 countries were received.

“Thirty six were shortlisted in a blind judging process by the technical committee and their submissions were then assessed by our jury,” he said.

The members of the jury were Jagdeep, Penang Deputy State Secretary (Development) Datuk Azhar Arshad, Aga Khan Trust for Culture general manager Luis Monreal, UN-Habitat head of knowledge and innovation Eduardo Moreno, Malaysian Institute Planners president Ihsan Zainal Mokhtar, Global Development Incubator’s Wadzi Katsidzira, and Wageningen University international landscape architect Sanda Lenzholzer.

“The quality of the submissions was outstanding. Many innovative ideas have been put forth for us to consider. We are very proud that there were many Malaysian entries with revolutionary ideas,” Jagdeep said.

A total of US$37,000 in prize money was allocated to the finalists – with US$20,000awarded to the first prize winner(s), US$8,000 for the second prize and US$4,000 for the third. The five honourable mentions received US$1,000 each.

The two-member team from Qhawarizmi Architect was the winner of the competition while the five-member team from MPlan City Planning, Bartlett School of Planning, University College London was the runner-up. The four-member team from Arkitek Kashaf and Universiti Teknologi MARA (UiTM), Puncak Alam was third.

Two teams from Malaysia, and a team each from the Netherlands, Indonesia and India were the five honourable mentions.

Visit https://penangbaycompetition.com.my/winner/ for further details of winning entries.

The competition, launched in August last year, is an initiative by the George Town Conservation and Development Corporation (GTCDC), a partnership between the Penang government and Think City; along with partners – Seberang Perai City Council and Penang Island City Council.

Source: Buletin Mutiara

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