From this year, owners of stratified properties in the state will have to pay parcel rent directly to their respective district and land offices.

Chief Minister Chow Kon Yeow said the parcel rent, replacing quit rent for stratified properties, is effective from January this year.

“Prior to this, the quit rent was based on the total plot the property was built on. It was paid by the respective management corporations (MC) of stratified properties.

“This year is the first year of enforcement, so strata unit owners will be given till the end of this year to pay the parcel rent,” he said at a press conference at his office in Komtar on Friday (June 28).

Chow said the parcel rent replaces quit rent for all stratified properties, with rates based on the size of the respective units.

“The bill for parcel rent will be sent out to all parcel owners starting July through their MC.

“Since the bills have been sent out late, parcel owners are given until the end of this year to pay the parcel rent.

“The parcel owners will need to update their addresses with their district and land offices when they pay their parcel rent this year,” he said.

Chow said the parcel rent for next year will be sent to the updated addresses of the parcel owners from January 2020 onwards.

All parcel owners are advised to update their mailing addresses at their respective land and district offices or online at etanah.penang.gov.my.

Source: TheStar.com.my

Yet another proposed affordable housing by Kobay SB Sdn. Bhd. at Teluk Kumbar. Located on an approximately 1-acre land off Lintang Teluk Kumbar 1, about 5 minutes walking distance from Lexis Suites, and less than 10 minutes drive from Penang International Airport. Communities within 1km radius include Taman Emas Flat, Sunway Aspera, Cascara 88 and Vanilla Bay Villa.

This development will see the demolition of the existing buildings, for the construction of a 31-storey residential tower with 9 levels of multi-storey carpark.

The project is still in its planning stage. More details will be available upon official launch.

READ MORE ABOUT AFFORDABLE HOUSING:

• Eligibility and the requirement of buying affordable housing
• Full list of affordable housing in Penang

Project Name: (to be confirmed)
Location: Teluk Kumbar
Property Type: Affordable Housing
Built-up Size: 900 sq.ft.
Total Units: 342
Indicative Price: (to be confirmed)
Developer: Kobay SB Sdn. Bhd.
Last Updated: Sep 2022

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.

Aspen Group, through its subsidiary Aspen Park Hills Sdn Bhd, has acquired 29.05 acres (11.62 hectares) of land in Paya Terubong from Geo Valley Sdn Bhd to be developed into mixed-residential development.

Aspen Group executive deputy chairman Datuk Seri Nazir Ariff said the seven pieces of freehold land would be developed in phases, comprising among others residential towers with communal facilities, serviced apartment towers and lifestyle retail facilities.

“The proposed development will benefit from existing amenities and infrastructure in a matured residential township, including the ongoing Jalan Bukit Kukus Paired Road Project which eventually will link the Air Itam township to the FTZ area of Bayan Lepas, Penang International Airport and two Penang bridges,” he said in a speech at Aspen Group Hari Raya Open House, graced by Penang Chief Minister Chow Kon Yeow, here today.

Nazir said the project also marked Aspen Group’s first joint-venture with Oxley Holdings Ltd, a Singapore-based property developer.

Source: Bernama

One Hundred Suites & Residences, a commercial development by Atta Global Group at Sungai Nibong. It is strategically located along Jalan Sultan Azlan Shah, diagonally opposite are SJK(C) Shih Chung, SRJK(C) Kwang Hwa and SMK Sungai Nibong. Just a mere minutes walk to future Sungai Nibong LRT station.

This development will features a 23-storey building with a mix of 62 units residential and 38 units office suites. There will also be common facilities at level 7.

More details to be available upon project launch.

Project Name : One Hundred Suites & Residences
Location : Sungai Nibong, Penang
Property Type : Mixed development
Total Units: 62 (residence), 38 (office suite)
Built-up Area: (to be confirmed)
Indicative Price: (to be confirmed)
Developer : Tetap Gembira Development Sdn. Bhd. (Atta Global Group)

Location Map:

By Charles Tan

I no longer stay in Penang but I support the Penang South Reclamation (PSR) scheme. The main reason is because it provides funding for Penang Transport Master Plan (PTMP) without which PTMP will not have the fund to proceed. Let’s understand that traffic jams in Penang is also getting worse and there are no alternative roads usually. Connectivity will also enhance business activities which is a good thing for the state and its people. As for the details for PSR and how it will affect the environment and the fishermen’s livelihood for example, that will have to be transparently handled. The latest news is that PSR’s current scale may be resized (downwards) if there are federal funding for its PTMP.

Article in thestar.com.my Chief Minister Chow Kon Yew said, “We can relook at the scale of the PSR project if we have the funding from the government. The size of the land to be reclaimed can be relooked, but the PSR scheme is still needed. We need PSR not only to finance the PTMP, but also to drive the state’s economic development in the future.” The PSR is a massive reclamation plan totalling 1,800ha. This is the size of 3,600 football fields. There will be three man-made islands for PSR; Island A (930ha), Island B (445ha) and Island C (323ha). Island A is seen as a conti­n­­­uation and expansion of the Bayan Lepas Free Industrial Zone (FIZ) while Island B will be “a playground for city planners and architects to give their best design” with a tram system and green spaces. Island C is meant for a mixed development project. Chow said that currently the Department of Environment (DoE) has only approved the Environmental Impact Assess­ment (EIA) of the Pan Island Link 1 connecting Gurney Drive to Tun Dr Lim Chong Eu Expressway near Bayan Lepas Free Trade Zone. For the full article, do refer to Article in thestar.com.my

FIZ is already fully occupied except for some small pockets of land here and there. Given a choice, any electronic manufacturing plant will prefer to be located as near to the island as possible. The reason is not just for logistics connectivity but also for hiring of professionals. Truth is, it’s not easy to hire good talents and get them to work far away from Penang island. island B will be a very interesting model. If it’s successfully carried out, I think it will be a great place to stay too. Perhaps there’s no need to drive! Last but not least, I would like to remind everyone about that important matter too; Penang International Airport. Even after expansion, it’s still considered small if we look at Penang as an entry point into Malaysia from the northern side. By the way, it’s closer to China, for example… Happy following.

Charles Tan – the founder of kopiandproperty.com. He is popular for sharing his thought on property investment mostly based on his own 15 years experience as well as from all the readings and conversations with property gurus in the industry. He is presently the CEO of an auction house auctioning assets beyond just properties. (Source)