Some RM20bil worth of residential properties remain unsold due to an overhang, says Housing and Local Government Minister Zuraida Kamaruddin (pic).

“Based on the First Quarter 2020 Property Market Report by the National Property Information Centre (Napic), a total of 31,661 completed units remain unsold with a value of RM20.03bil,” she said when answering a question by Datuk Ahmad Jazlan Yaakub (BN-Machang) in the Dewan Rakyat on Wednesday (Nov 25).

She added that this was an increase of 3.3% in the number of unsold units and an increase in the value compared to the same period last year.

There were 30,664 unsold units worth RM18.82bil in the first quarter of 2019.

Zuraida said the overhang in residential units was due to several factors such as a mismatch in pricing and location.

She added that the difficulty for potential buyers in obtaining bank loans was also a factor.

To overcome this, she said that her ministry is currently developing a Housing Integrated Management System (HIMS) to replace the current data record system.

The new system, she added, would contain details such as developers’ licence, management and control of projects, enforcement, and residential ownership in private housing projects.

She said the new system is expected to be completed by the middle of next year.

However, she acknowledged that state governments have control over housing development projects in their states.

In this respect, Zuraida said her ministry will carry out an analysis on the housing sector in the first quarter of next year.

She added that the data from the analysis will be used as a basis for the ministry to advise the state governments to better plan and implement housing policies.

Source: TheStar.com.my

Stern actions will be taken against joint management bodies (JMBs) and management corporations (MCs) that fail to comply with the COVID-19 standard operating procedures (SOP) to curb the spread of COVID-19 in stratified buildings.

State Housing, Local Government and Town and Country Planning Committee chairman Jagdeep Singh Deo said that no punishment has been issued so far and a majority of the stratified buildings in Penang have adhered with the SOPs gazetted by the Ministry of Health (MOH) since April 6 this year.

He said that to date, over 1,400 high-rise buildings in Penang have conducted SOP compliance checks and recorded an SOP compliance rate of over 99%.

“Meanwhile, those (stratified buildings) that did not comply with the SOP have been given warnings so that they (JMBs and MCs) are aware and make necessary changes.

“I have warned both city councils that if any of these premises still did not comply with SOP, firm actions will be taken,” he told a press conference here today.

Jagdeep said that the SOP in stratified buildings should be highly addressed as the dense population within the small area served as a potential threat against COVID-19 infection.

According to him, there are 1,881 registered stratified buildings in Penang.

“Up until now, prevention is still better than cure and the only thing we, Penangites can do is to comply with the SOP. We do not want one or two individuals to jeopardise the health and security of every other Penangites,” he added.

Source: EdgeProp.my

Proposed mixed development by TF Land Sdn. Bhd. at Machang Bubok in Bukit Mertajam. It is located on a 3.4 acres of land along Jalan Machang Bubok 1, right opposite of TF 65 shop offices. It is just a stone’s throw away from Tropicale Residency gated housing scheme, less than 10-minute drive to Bukit Mertajam Town Centre via Jalan Kulim.

This would probably the first serviced apartment in Machang Bubok, comprises two 17 and 18-storey residential towers with several retail and commercial units. The residential component will feature 192 and 126 serviced apartment units respectively.

The project is still in its planning stage and pending approval. More details to be available upon official launch.

Project Name : (to be confirmed)
Location : Machang Bubok, Bukit Merajam
Property Type : Mixed development
Total Units: 318 (residential), 20 (commercial)
Built-up Size: (to be confirmed)
Developer : TF Land Sdn. 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.

The COVID-19 pandemic, that is still plaguing the world, has been affecting all walks of life, especially small traders who are feeling the pinch the most due to the outbreak.

A check at the Penang Sentral yesterday found that the majority of traders were concerned as they have hardly any customers of late.

One of them, Julaika Paulino, 19, who helps her sister selling snacks, said that the lack of visitors was driven by fear as people now do not want to leave the house unnecessarily due to fear of the spread of the COVID-19 infection.

“There are not many visitors lately… maybe everyone is afraid to go out because of COVID-19. But for us traders we still need to operate our shop as usual due to our financial commitments,” she told Bernama.

Julaika also said that she had difficulty in finding a part-time job as not many employers are willing to hire workers while the country is facing the pandemic.

“Even now, if you want to apply for a part-time job, the employer does not want to hire an individual who is a student. So, I help my sister here for the time being,” said Julaika, a student at one of the private universities in Kuala Lumpur.

Meanwhile, Azira Abdul Manaf, 27, a trader at the complex’s food court also expressed her concerns as she has to bear piling debts due to small profit.

“The business hardly breaks even. From more than 15 dishes previously now we are down to only two.

“Our shop has to reduce production costs as we need to cover the existing debt. We open our shop daily but there are no customers. This is very difficult for us,” she said.

Meanwhile, Siti Haslinda Kamal, 35, who sells clothes, said that although the implementation of the Conditional Movement Control Order (CMCO) in the state was for the health and safety of the people, deep down she really hoped that the pandemic would end soon.

“In the past, it was very lively here with the presence of visitors and the public, but now the atmosphere is gloomy. In a day, we have only five customers or fewer,” she said.

Source: Bernama.com

(Source: Sinar Harian)

About Setia Sky Ville

One of the most popular development by SP Setia in Jelutong. It is strategically located off Lorong Slim, just a short drive away from various high schools, namely Heng Ee secondary school, Penang Free School and Han Chiang College. This development features 550 residential units with built-up sizes ranging from 1,036 sq ft to 1,424 sq ft.

Find out more about Setia Sky Ville