Penang’s first LRT project has been approved by federal government on 16 July 2019, with 30 conditions for the state to comply. A three-month public inspection process started Aug 19 to obtain the views of Penangites. The public can now find out more about the LRT project at four fixed locations during office hours, namely, Komtar, Seberang Prai Municipal Council in Perda, Land Public Transport Agency (LPTA) at One Precinct, here and the LPTA headquarters in Putrajaya.

Hear from Penang Chief Minister on the 2,924 responses received in four display centre.

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Penang CM speaks to Penang Property Talk on Vision 2030

Housing and Local Government Minister Zuraida Kamaruddin plans on taking Malaysia’s Home Ownership Campaign (HOC) to Hong Kong and China.

Speaking to a press conference at the outskirts of the 2019 Smart Cities Asia Annual Conference and Exhibition, she explained that properties in Malaysia are far cheaper than those found in Hong Kong.

At the same time, she believes this will go some way to addressing the issue of expensive, overhung properties.

“I was thinking of our unsold units which is about RM100 billion worth of the higher market, I’m not talking about the lower market, so I was thinking about organising this HOC campaign in China or in Hong Kong where we can attract these people to come and buy homes here,” she said.

Over a five-year period between 2014 and the end of 2018, the number of unsold, completed residential units grew from 11,816 to more than 45,000 by the end of 2018, including serviced apartments and small offices home offices (SoHos).

In ringgit value, the rise is even greater. The value of residential overhang snowballed by a massive 635 per cent, according to the National Property Information Centre (Napic) records.

Despite her plans to promote Malaysia’s more expensive properties, Zuraida pointed out that they are still cheaper compared to property prices in Hong Kong.

“In fact, it’s cheaper to buy homes here instead of there and to fly, with the price of travelling making it cheaper to have homes in Malaysia than in Hong Kong. I went to one unit of flat there at 250 square feet; it cost RM3 million. Even a minister can’t afford a home there,” said Zuraida.

At the moment, the federal minister wants to take her proposal to the Cabinet and have it discussed because she wants to promote the plan under the Malaysia My Second Home (MM2H) programme.

She plans on roping in Tourism, Arts and Culture Minister Datuk Mohamaddin Ketapi as MM2H is under his purview.

However, she confirmed that currently, local developers are already making sales pitches in Hong Kong and China.

Source: MalayMail.com

Iconic Worldwide Bhd’s maiden property project Iconic Point has been 100 per cent taken up during its two-day soft launch at its sales gallery in D’Piazza Mall, Penang last weekend.

The company said Iconic Point is expected to become one of the key commercial centre and landmark in the Simpang Ampat township – a true game-changer for mainland Penang’s dining and entertainment scene. The freehold development will be completed by the first quarter of year 2022.

Iconic Point is a joint venture between Iconic Maison Sdn Bhd, a wholly-owned subsidiary of Iconic Worldwide, and Iconic Development Sdn Bhd.

“This is the first time Simpang Ampat has seen such a development, with semi-detached & detached shop offices with individual shared lift concept, and the price we have set is very close to what we offered for Icon City when it was launched seven years ago,” said Iconic Worldwide Bhd managing director Datuk Tan Kean Tet in a recent statement.

Strategically located near the junction of Jalan Permatang Tinggi and Jalan Bukit Tambun, just off the North-South Expressway, Iconic Point will enjoy great visibility to thousands of motorists passing by daily. The development is also a stone’s throw away from the nearby KTM station, and in close proximity to mature residential neighbourhoods.

Sprawling across 8.7 acres, Iconic Point will feature 49 units of modern semi-detached & detached shop offices with individual shared lift.

There will also be three drive-thru food and beverages outlets with tenants such as Starbucks.

An elegant 4-storey boutique hotel sits at the end of the Iconic Point belt, providing visitors a place to rest their weary body while still remaining in close proximity to essential service outlets and loved ones, perfectly encapsulating the definition of an integrated lifestyle hub.

The 49 units of modern three-storey shop offices maximise convenience and efficiency by incorporating specially-designed shared lifts. Its commodious layouts make units flexibly suited to a vast spectrum of business – from retailed store, cafes, restaurants and pubs, to beauty salons, boutiques and more.

Source: NST Online

Many of you must be wondering where will be the next affordable housing located? Can the government control or influence the developer’s decision?  Listen to the sharing from our Chief Minister on the challenges in approving affordable housing by developers.

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Penang CM speaks to Penang Property Talk on Vision 2030

Following S P Setia’s mega township development (Setia Fontaines) at Bertam,  more developers are now taking advantage of the spillover effect by proposing affordable landed homes within the vicinity.

Here is yet another proposed residential development at Tasek Gelugor by Pavilion Everise Sdn. Bhd. (a subsidiary of GSD Land). It is located along Jalan Kubang Menerong, just a stone’s throw away from Setia Fontaines and Bandar Putra Bertam.

This housing scheme comprises mostly single-storey landed houses, some of which are categorized under low-cost housing.

Phase 1

• 2-storey terrace (23 units)
• 1-storey terrace (304 units)
• 1-storey low-cost house (104 units)

Phase 2

• 2-storey shop office (49 units)

Phase 3

• 2-storey terrace (16 units)
• 1-storey terrace (209 units)
• 1-storey low-cost house (63 units)

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

Project Name: (to be confirmed)
Location: Tasek Gelugor
Property Type: Terrace & low-cost house
Tenure: (to be confirmed)
Total Units: 338
Indicative Price: RM42,000 (low-cost)
Developer: Pavilion Everise Sdn. Bhd. (GSD Land)

Location Map: