The Penang government will review the Penang Structure Plan (PSP) 2030 and Penang 2030 vision as it grapples with fallout from the Covid-19 pandemic.

State Local Government, Housing Development and Town and Country Planning Committee chairman Jagdeep Singh Deo said that both documents are crucial to map out the future of Penang – however, current circumstances have affected their implementation.

Hence, he suggests that the state government review certain components of both.

“We have to reprioritise and re-strategise both documents.

“I am glad to inform you that Chief Minister Chow (Kon Yeow) has received my proposal well. Our priority now is to stimulate the economy of the state, while further embracing the digital era,” he said at a press conference today.

Jagdeep was met by the press after checking the Taman Free School market and distributing face masks to residents there.

Also present were Jelutong Member of Parliament RSN Rayer and Penang Island City Council (MBPP) mayor Datuk Yew Tung Seang.

PSP 2030 was gazetted last year, while Penang 2030 vision was announced in Aug 2018.

Both consist of a roadmap and development plans for the state until the year 2030.

Jagdeep said that he will also prepare an action plan to tackle an expected slowdown in the property industry due to the Covid-19 outbreak.

He said a discussion will be held to devise a plan to assist both developers and buyers in the state.

“We cannot run away from the fact that developers are affected. Buyers are also impacted in terms of purchasing capacity.

“The priority will be for the accessibility of homes and ensuring that adequate supply is available for affordable homes,” he said, adding that he will announce the action plan soon.

Penang Property Talk’s exclusive interview with Penang CM on Vision 2030
(Interviewed on Aug 2019)

Source: NST Online

A proposed small residential development by Desacity Development Sdn. Bhd. at Balik Pulau. Located along Jalan Pondok Upih, it is only a stone’s throw from Balik Pulau town centre. This development is only a 10 minutes drive to Prince of Wales Island International School, about 20 minutes drive from Penang International School.

This project will feature 24 units for 2-storey terrace houses with individual titles. It is still pending for approval. More details will be available upon official launch.

Project Name: (to be confirmed)
Location : Balik Pulau
Property Type : Residential
Total Units : 24
Land Tenure : (to be confirmed)
Indicative Price : (to be confirmed)
Developer: Desacity Development Sdn. Bhd.

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An integrated mixed development township across the Second Penang Bridge is about to unveil its latest offering.

Camdon Collection is the third collection of Eco Horizon, the largest gated and guarded mixed development township by Eco World at Bandar Cassia in Batu Kawan.

Eco Horizon lies just minutes away from the landing point of the Second Penang Bridge in Batu Kawan, and is within close proximity to Ikea Batu Kawan, Penang Design Village, and a host of trendy and rustic eating spots.

This latest collection from Camdon will feature a fresh development concept, offering three distinct landed property models, with an indicative price starting from only RM426,000.

Of great interest is the fact that these homes will offer its owners a chance to design their own layouts, depending on their lifestyle needs.

This collected is being touted as the first in Penang to offer EcoWorld’s Design2Own concept, where the owner gets the developer to cater to their needs.

Various layout options are available to make one’s home their personal sanctuary while catering to their design taste.

Just like the previously unveiled collections at Eco Horizon, Camdon homes will be located within a serene neighbourhood surrounded by man-made lakes and cycling tracks, and complemented with a luxurious clubhouse.

This latest collection will feature Co-Homes (two storey units measuring 35’ x 54’) belonging to two owners. Each owner gets to choose which floor they wish to occupy and own and have side-by-side car parks.

Also available from the Camdon collection are two storey terraces homes (measuring 22’ x 54’) along with 2-storey garden homes (measuring 24’ x 56’) which come with a private garden space.

Other plus points in the neighbourhood are the construction of other stunning homes,
private and national-type schools and top-notch hospitals.

UOW Malaysia KDU University welcomes its first batch of students for its January intake and more students who have completed their Sijil Pelajaran Malaysia examinations are expected to enrol.

Another exciting development in the area will be the opening of the The Ship Campus (Peninsula College) which is set to be located within the One Auto Hub at Bandar Cassia in Batu Kawan.

Also awaited for Batu Kawan, is the opening of the new Chinese school, SJK (C) Kuang Yu.

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Residential property prices are expected to surge in 2021 after stalling this year due to the Covid-19 pandemic, according to a nationwide study by real estate sales and media company Juwai IQI.

In its Q1 2020 Property Index and Survey for Malaysia, Juwai IQI predicted that residential property prices would stagnate in 2020 with an increase of only 1.1%.

Group executive director Kashif Ansari said the drop in number of property transactions due to the movement control order (MCO) was also causing property prices to stagnate.

“The industry is optimistic, however, about a post-pandemic recovery and expects residential prices to rise by 8.6% by 2021.

“Amid all the uncertainty, property is viewed as a relatively safe investment that can provide cash flow.”

He added that Bank Negara Malaysia’s six-month moratorium on interest and principal payments for loans had provided relief to property owners besides easing the pressure on the real estate market.

The survey, which was conducted among more than 340 real estate agents from Feb 7 to March 19, also revealed that rental rates are expected to rise by an average of 1.7% through the end of 2020.

“The findings showed that Sarawak has the highest forecast rental growth at 5.4% in 2020. Penang has the most negative forecast, with rental rates there expected to fall by 5.8% in 2020.

“But looking forward two years, agents are more confident about rental rates. Nationwide, agents expect rental rates to climb by 7.1% by January 2022,” Ansari said.

He added that property would likely remain attractive to foreign buyers due to the country’s strategic location.

“Its close proximity to countries such as Japan, China, Hong Kong and Singapore, which are the world’s largest cross-border property buyers, makes it even more appealing.

“For investors and first-time home buyers, now is definitely a good time to consider getting into the market, as there are attractive discounts offered by developers.”

About 61% of real estate agents who participated in the research expected first-time local buyers to make more property transactions in 2020 than in 2019. Meanwhile, 55% of agents expected foreign buyers to conduct more transactions.

The survey also revealed possible consumer changes in property buying, with greater use of online tools such as virtual reality, 3D rendering and live-streaming, to facilitate marketing, research, and purchasing of real estate due to Covid-19.

Source: Free Malaysia Today

Saujana Prima, an upcoming residential development by JKP Sdn. Bhd. at Bukit Panchor in Nibong Tebal.  Located along the main road of Bukit Panchor township, less than 1km away from Nibong Tebal KTM train station. It is only a 10 minutes drive from Jawi toll plaza.

This development will feature a mix of single and double-storey semi-detached and terrace house, to be developed in two phases:

PHASE 1

• 2-storey semi-detached (4 units)
• 1-storey semi-detached (8 units)
• 1-storey terrace (38 units)

PHASE 2

• 2-storey terrace (38 units)

Project Name: Seri Saujana Prima
Location: Bukit Panchor, Nibong Tebal, Penang
Property Type : Landed residential
Land Area: (to be confirmed)
Built-up Area: (to be confirmed)
Total Units: 88
Tenure: (to be confirmed)
Indicative Price: (to be confirmed)
Developer: JKP Sdn. Bhd.

Location Map: