Vezzara Residence, a medium-cost condominium by JKP Sdn. Bhd. at Permatang Pauh in Central Seberang Perai. It is located along Jalan Permatang Pauh, right opposite UiTM Penang Campus. This development is centrally located between Seberang Jaya and Bukit Mertajam, about 1km away from Residendi Permatang Pauh affordable housing scheme. Amenities within 3 km includes hypermarkets, hospital, university, banks and several popular eateries.

This development will see the construction of a 24-storey condominium, featuring 395 residential units with a standard built-up size of 900 sq.ft. Expected to be launched in 2022.

Project Name: Vezzara Residence
Location: Permatang Pauh
Property Type : Condominium
Land Area: (to be confirmed)
Built-up Area: 900 sq.ft.
Total Units: 395
Tenure: Freehold
Indicative Price: (to be confirmed)
Developer: JKP Sdn. Bhd.
Last Updated: June 2021

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More hotels in Penang are expected to cease operations soon in the aftermath of the Covid-19 global pandemic.

After Jazz Hotel announced yesterday that it is shutting its doors, NST has learnt that two more major hospitality establishments here will follow suit.

The two businesses are Penaga Hotel and Jerejak Island Resort, both of which are managed by VHM Hotel Management Group.

Memorandums similar to Jazz Hotel’s, which are circulating on social media, claim that the two establishments will be closed by month’s end and their staff will be retrenched.

Malaysian Association of Hotels Penang Chapter chairman Khoo Boo Lim confirmed the hotels’ imminent closure, but stressed that the association has yet to be officially informed of the matter.

Meanwhile, a source within the hotel industry said that other hotel operators are feeling the pinch following the coronavirus outbreak, and have been suffering heavy losses over the past few months.

It is said the managements of most hotels here had invested heavily in their operations in expectation of good business during the Visit Malaysia 2020 campaign, which has been cancelled.

Source: NST Online

Malaysian developers should switch their focus to landed properties in respect of the peoples’ wishes to have a better quality of life, said experts.

Impetus Alliance chief executive officer and managing director Datuk Seri Michael Yam said affordable landed properties would be a better investment choice for Malaysians.

“The Covid-19 pandemic and the Movement Control Order (MCO) have caused more people to work from home or to stay at home, hence, they are looking to have better space.

“Developers should take note of the fact that people have realised that they want to have more public space with high-speed Wi-Fi or sound-proof room, for example,” he said at the Malaysian Institute of Estate Agents’s (MIEA) Multi-Sector Market Outlook Forum, yesterday.

He said the pandemic and the MCO undoubtedly had a significant impact on buying sentiment, which was already decreasing prior to these events.

Meanwhile, as to whether house prices will drop by as much as 30%, Hartamas Real Estate Group founder and group managing director Eric Lim disagreed.

He said the industry would be focusing on stabilising the whole market for the first few months after the MCO has been lifted.

“I disagree that house prices will drop by 30% because the government’s initiative to give moratorium on loan payments for six months will give some kind of stability.

“Sure, it will be slow at first, but it should pick up thereafter,” he said.

Previously, Bank Negara Malaysia (BNM) in its Financial Stability Review (Second Half 2019) report said Malaysian house prices remain seriously unaffordable relative to income, due to a pronounced and prolonged mismatch between demand and supply of residential properties.

Nevertheless, risks of a sharp correction in house prices will continue to be mitigated by firm demand for housing, particularly for properties priced below RM500,000, it said.

Source: EdgeProp.my

The Penang government will come out with an action plan to ensure that the low-income earners will still have access to affordable homes post Covid-19.

State Local Government, Housing, Town and Country Planning Committee chairman Jagdeep Singh said it was undeniable that the property sector would face tough times ahead.

“We cannot ignore the fact that the property sector is suffering, both the developers and purchasers,” Jagdeep told a press conference at Taman Free School that was streamed live on the Penang Island City Council (MBPP) Facebook page today.

“This extraordinary disaster has ruined many industries, including the housing industry.

“The buying capacity of the buyers is affected. This is important to me because for the past 10 years, we have given priority to affordable homes in the state.

“I will come out with an action plan to ensure that we have adequate stock of affordable housing for Penangites.”

He said his committee had started discussions with relevant players and he would be announcing the action plan soon.

Jagdeep said another matter of importance to Penang was the need to reprioritise and restrategise the Penang Structure Plan 2030 and the Penang2030 vision because of the pandemic.

The Penang Structure Plan 2030 was gazetted at the end of last year and the Penang2030 vision was announced by Chief Minister Chow Kon Yeow in August 2018.

“These are two important documents to guide Penang into the future. So, we need to relook at some of the components as they may have been overtaken by Covid-19.

“I’m happy to say that the chief minister was receptive to my suggestion at the exco meeting yesterday.

“Now everything seems to be at a standstill. We have to rebuild the economy and in the state’s next normal strategy, we are focusing on digitalisation to help speed up the recovery.

“It’s not that we have not delved into digitalisation because one of components in Penang2030 is to become a smart and green city.”

Jagdeep also praised MBPP mayor Datuk Yew Tung Seang and Seberang Perai City Council (MBSP) mayor Datuk Rozali Mohamud for achieving over 99% MCO compliance.

He also thanked the frontliners for their hard work to keep Penang clean and the Penangites for their cooperation during the MCO.

At the press conference, Jagdeep also presented some provisions such as rice, flour, cooking oil and ‘bee hoon’, to some 50 residents of Taman Free School flats in view of the coming Ramadan.

This was part of the 1,000 bags of provisions that are being distributed by Jagdeep’s service centre to nine areas in his Datuk Keramat constituency. The other eight areas are Caunter Hall, Kampong Makam, Wan Chik Ariffin, Kampong Dodol, Jalan P. Ramlee, Datuk Keramat, York Road and Kebun Lama.

Before the press conference, Jagdeep visited the Taman Free School market to distribute face masks to the traders, hawkers and market-goers.

Also joining him were Jelutong MP R.S.N. Rayer, MBPP mayor Datuk Yew Tung Seang and MBPP secretary Datuk Addnan Mohd Razali.

Source: Buletin Mutiara

Source: Google Streetview

Penang has decided to allow electrical and electronic shops, along with full-service laundry shops in the state to reopen from tomorrow onwards, Penang Chief Minister Chow Kon Yeow announced today.

He said these sectors have applied and obtained approval from the Ministry of International Trade and Industry (Miti) to reopen for business and they will be allowed to operate from 8am to 8pm.

“This decision was made at the state special security committee meeting which I chaired this morning and these shops will have to operate in accordance with the conditions set by the federal government,” he said.

Chow then stressed that buka puasa (breaking of fast) events will not be held in mosques or surau in the state regardless of whether Movement Control Order (MCO) is extended or lifted.

“Due to safety factors, I was informed by the deputy chief minister I, who is the state exco for Islamic religious affairs and the president of the Penang Islamic Council, that buka puasa events will not be held in mosques and suraus in the state and Muslims have been urged to hold solat tarawih in their respective homes,” he said.

However, he added that contributions of aid and zakat to the poor will continue uninterrupted.

The Penang lawmaker hoped the Muslims would adapt to the changes for this Ramadan including the cancellation of Ramadan bazaars.

“I hope we can adapt and continue to practise our faiths in accordance with the MCO,” he said.

He reminded Muslims that they can still have access to halal food through the online Ramadan bazaars by both city councils.

He hoped more will make full use of the online platforms that will also serve to help local hawkers to earn an income during this period.

Source: MalayMail.com