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UPCOMING: Bukit Mertajam / WHH Land

Machang Bubok/ 23 March 2020 No comments

proposed-development-by-grandplalms-development

Yet another proposed residential development by Grandpalms Development Sdn. Bhd. (subsidiary of WHH Land) at Bukit Mertajam. Located along Jalan Machang Bubok, this development is only a mere minutes drive from Bukit Mertajam town centre. Neighboring communities include Tropicale Residency, The Navens, Hillpark Residences, and a few others.

This development comprises three 19-storey residential towers, featuring a total of 580 condominium units with underground car parks.

The project is still pending for approval. More details will be available upon official launch.

Project Name: (to be confirmed)
Location : Machang Bubok, Bukit Mertajam
Property Type : Condominium
Total Units : 580
Land Tenure : (to be confirmed)
Indicative Price : (to be confirmed)
Developer : Grandpalms Development Sdn. Bhd. (WHH Land)

Register your interest here

(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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Penangites cannot cross the bridge without valid reason

mco-blockPenangites living on the island are advised not to go to the mainland side of the state without a valid reason, Northeast District Police chief Assistant Commissioner Soffian Santong said today.

He said police will conduct a roadblock at the entrance to the Penang bridge and stop those without valid reasons from driving to Seberang Perai.

“If you live on the island, you are not allowed to go to Seberang Perai without valid reasons, so we will instruct those without valid reasons to take the road back to town or Bayan Baru,” he said in a brief press conference while checking on one of the roadblocks set up on the island at Tun Dr Lim Chong Eu Expressway.

He said only those who are able to provide valid reasons such as those working in the essential services sector with proof will be allowed to go.

Soffian said there will also be roadblocks on the mainland side to question every motorist coming from the bridge.

Today, a total 99 army personnel have been deployed to assist the police in the northeast district on the island.

Soffian said three army personnel will be stationed at each of the four roadblocks in the district at any one time.

“The roadblocks at Batu Ferringhi, Paya Terubong, Batu Uban and here will be held round the clock so there will be four different shifts for those on duty,” he said.

Additionally, he said 10 police multi-purpose vehicles (MPV) will patrol the streets of George Town throughout the day.

He said army personnel will also be assisting the patrol teams especially at popular recreational spots and places of worship.

A total of 351 personnel from the police force are involved in these enforcement actions in the northeast district.

Soffian said many people are still taking the movement control order (MCO) lightly.

“Though many we stopped at roadblocks had valid reasons such as working in essential services, there are still those who are out visiting friends and relatives,” he said.

Soffian said there was even one man who drove from Bayan Baru to George Town purportedly to buy food because the food in town was “more delicious”.

“Some are coming back from the mainland without any reasons for being there in the first place,” he said.

Soffian reminded the public to stay home at all times and to adhere to the MCO.

“This is not a holiday, please stay home,” he said.

Source: MalayMail.com

 

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SITE PROGRESS: Triuni Residences (March 2020)

Property News/ 21 March 2020 No comments

Triuni Residences

 

About Triuni Residences

The third phase of The Sanctuary development, featuring three residential towers, with a total of 552 condominium units. It is strategically located within the established township of Batu Uban, next to The Sanctuary (Phase 1). Just a mere minutes drive from University Science Malaysia and Penang bridge.

Find out more about Triuni Residences

Register your interest here for Tower B

*By submitting this Form, you hereby agree to our PDPA Consent Clause.
(These information will be forwared to the developer)

Find out more from the video below (taken Oct 2018)

Penang property sector in losses if movement control order extends

Property News/ 20 March 2020 No comments

George Town

Contractors and developers in Penang will suffer losses amounting to hundreds of millions of ringgit if the Movement Control Order (MCO) period is extended.

Penang Master Builders & Building Materials Dealers Association adviser Datuk Lim Kai Seng said there was at least RM5bil worth of construction jobs being carried out in Penang now.

“If the MCO is prolonged, then these projects will be delayed by at least one to two months, depending on the stage of completion they have already achieved.

“The contractors and developers will have to pay late delivery payments to the developers and house-buyers. When work is resumed, there is also the need to do remedial work, which will cost several million ringgit, ” Lim said.

Although quarry operations have stopped, the price of building materials has yet to increase. The price of cement has been maintained at RM16 per 50kg bag, while sand and steel are at RM45 and RM2,300 per tonne.

Lim added that there were now some 100,000 legal foreign workers in the state who are out of work.

Real Estate & Housing Developers Association Penang (Rehda) immediate past chairman Datuk Jerry Chan said Rehda would appeal for the sale and purchase agreement completion period to be extended due to the MCO.

“The supply of material and equipment -– such as tiles, sanitary ware and equipment – from China has faced disruptions, and the current MCO will worsen the situation, ” Chan added.

Ideal Property Group executive chairman Tan Sri Ooi Kee Liang said the group currently had five projects on the island. “If the MCO is extended, we can expect to pay late delivery payments, ” he said.

Meanwhile, investPenang director Datuk Seri Lee Kah Choon said factories classified under the essential category were allowed to maintain skeletal operations during the MCO period.

The electrical and electronics, petrochemical, medical device and food-manufacturing industries are listed under the essential category.

“The move will sustain the plants. As to what level is sustainable, it will be up to the individual factories to decide. Some factories may choose to shut down totally for various reasons such as workers refusing to work, ” he said.

Source: TheStar.com.my

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Virus scare makes things gloomier for property sector

Property News/ 20 March 2020 2 comments

STP2

There is a fear among people in the real estate business that the Covid-19 scourge will make bad times worse for the sector, which has in recent years already been grappling with problems associated with a soft market.

Nearly a dozen real estate agents told FMT that inquiry calls have dropped sharply since the Covid-19 outbreak hit the headlines.

They said there had lately been no requests for the viewing of properties, either for rent or purchase.

Developer Jerry Chan, a former chairman of the Penang Real Estate and Housing Developers’ Association, said he believed swift action and changes in government policies could soften the blow on the industry.

Government intervention would be especially helpful to developers who were in the midst of building their properties, he told FMT.

He said the government should take into account the disruption caused by the movement control order and allow developers to delay their completion dates.

“We also need the banks’ indulgences on repayments and loan servicing until this crisis blows over,” he added.

He said the government should push for a moratorium on loan installments for house buyers as well as those serving loans taken to finance commercial and industrial buildings.

“Desperate times need immediate and drastic action,” he said. “We need a crisis mode reaction.”

He also proposed an extension and enhancement of the home ownership campaign that the government initiated last year, saying it did bring some improvement to the property market.

A Penang-based real estate agent who asked to be quoted only as Heng said prospective property buyers appeared to be adopting a wait-and-see attitude.

He said some were assuming prices would drop with the end of the Covid-19 threat, but he speculated that this was unlikely, noting that the Hong Kong protests kept property prices soaring.

Heng said he was meanwhile trying to make sales through videos posted on the internet so that prospective buyers would not have to be physically present at the sites of the properties to view them.

“I’m posting more 360-degree views of the properties on Facebook,” he said.

Statistics by the National Property Information Centre show that 31,092 houses were unsold as of last September.

The aggregated values of these units have dropped from RM19.54 billion in 2018 to RM18.8 billion in 2019.

Source: Free Malaysia Today

 

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