Join Jayamas Property for an exclusive preview of MARC Residences & Service Apartment on 6 & 7 April (10AM – 5PM) and be the first to experience the luxury condo at Jalan Song Ban Keng.
The event will also feature kids corner and wine service. Light refreshment will be served.
Venue:
11, Jalan Casa Residensi,
Pusat Perniagaan Casa Residensi,
14000 Bukit Mertajam, Penang
Exclusive video
Iconic Point, a joint venture commercial development between Sanbumi Holdings Bhd and Iconic Development Sdn. Bhd. at Simpang Ampat. Strategically located along Ipoh-Butterworth federal road, just a stone’s throw away from Pearl City township development by Tambun Indah. It’s about 25 minutes drive to both Penang bridges.
Intended to replicate the success of the Icon City at Bukit Tengah, this development will feature 48 units of three-storey semi-detached shop-offices; a three-storey detached shop-office; a four-storey 48-room boutique hotel; and three units of two–storey drive-thru concept detached shops. Ample parking bays will be allocated around the units to ensure convenient for visitors.
More details to be available upon official launch.
Project Name: Iconic Point
Location: Simpang Ampat, Penang
Property Type: 3-storey shop offices
Tenure: Freehold
Total Units: 49
Built-up Size: (to be confirmed)
Indicative Price: RM2.5mil onwards.
Developer: Iconic Development & Sanbumi Holdings Bhd.
Register your interest here
Location Map:
Growth of the property market in Penang is expected to remain flat this year in view of the unpredictable economic outlook and the market’s wait-and-see attitude, according to an international real estate consulting firm.
Henry Butcher Malaysia (Seberang Perai) Sdn Bhd associate director Fook Tone Huat said the United States (US)-China trade war, the property overhang issue and difficulty in getting bank loans were some of the possible factors affecting the property market’s performance.
“On a positive note, the Home Ownership Campaign (HOC), which is a collaborative effort between the Housing and Local Government Ministry and the Real Estate and Housing Developers’ Association, might boost the residential property market’s performance to a certain extent,” he told reporters at the launch of Henry Butcher’s Seberang Perai 2018/2019 property market report here today.
The HOC aims to resolve the high number of unsold homes in Malaysia by offering incentives such as price discounts and stamp duty exemption on the instrument of transfer and loan agreement for houses priced between RM300,001 and RM1 million for first-time house buyers.
“However, with the state’s property overhang issue in the limelight, I think it is unlikely for the property market to recover this year.
“If the economy can perform well with no global issues such as the US-China trade war, I believe that there could be a possible recovery next year,” he added.
According to Henry Butcher Malaysia’s Seberang Perai 2018/2019 property market report, the market performance in Penang was mixed in the first half of 2018, with total volume and total value of transactions increased on a year-on-year (y-o-y) basis, despite the overall soft market sentiment.
A total of 8,292 transactions worth RM4.29 billion of property developments was recorded in the state in that period — a 5.19 per cent y-o-y increase in volume and 5.45 per cent y-o-y rise in value.
The report said total transactions in several property development sub-sectors in Seberang Perai had increased y-o-y, including residential (0.74 per cent) and industrial (5.15 per cent), whereas commercial property developments declined by almost 11 per cent.
Source: Bernama
Beldon is the second precinct of the 300-acre Eco Horizon township development in Batu Kawan, surrounded by man-made lakes, cycling tracks and a luxurious clubhouse. It is strategically located stone’s throw away from IKEA, off the primary interchange linking the Second Penang Bridge to the North-South Highway.
The township’s second collection will comprise 338 units of gated & guarded 2-storey semi-detached and bungalow houses with indicative price starting from RM1.2 million and RM2.2 million respectively.
Double Storey Semi-Detached Home
Land Size: 34’ x 75’
Build-up Area: Approx. 2,500
Price: RM 1.2mil onwards
Double Storey Bungalow Home
Land Size: 50’ x 80’ | 56’ x 85’
Build-up Area: Approx. 3,200sqft | 3,600sqft
Price: RM 1.9mil onwards
Register your interest here
Project Name: Beldon @ Eco Horizon (formerly known as Brydon)
Location: Batu Kawan, Penang
Property Type: Gated & guarded semi-detached & bungalows
Total Units: 338
Built-up Area: 2,500 sq.ft. (semi-d), 3,200 – 3,600 sq.ft. (bungalow)
Land Tenure: Leasehold
Indicative Price: RM1,200,000 onwards
Developer: EcoWorld Development
Location Map:
SITE PROGRESS
Video taken: 27 May 2018
Bank Negara Malaysia (BNM) has given banking institutions until end-2019 to revise “unfair” terms and conditions, and improve clarity by using plain language for both new and existing housing loan and financing contracts.
In addition, the central bank in its Financial Stability and Payment Systems Report 2018, revealed that the Association of Banks in Malaysia (ABM) and the Association of Islamic Banking and Financial Institutions Malaysia (AIBIM) are also working with banking institutions to review the standardised key terms and conditions for housing loan agreements involving a principal sum of RM500,000 and below to address concerns that have been raised by BNM.
BNM said financial service providers (FSPs) are expected to ensure fairness and clarity of terms and conditions in the contracts entered by them with retail customers and small and medium enterprises.
A thematic review on housing loan and financing contracts to identify terms and conditions that were inconsistent with reasonable expectations of fair conduct towards financial consumers was conducted last year by BNM.
From the review, it found that some of the terms and conditions were “disproportionately skewed in favour of the banking institutions and to the detriment of consumers”.
These included terms and conditions that provide absolute exclusions or limitations of a banking institution’s liability and obligations, and place undue reliance on signed declarations to assert that financial consumers have read and understood a contract.
“Some terms and conditions were found to be unnecessarily complex with the use of excessive legal and technical jargon that did not aid clear understanding by consumers.
“Following the review, banks were required to revise the unfair terms and conditions by end 2019,” said the central bank.
These initiatives, said BNM, are consistent with a recent landmark ruling by the Federal Court in December 2018 which held that a commercial bank could not rely on absolute exclusion of liability clauses typically found in most banking agreements to shield itself from being sued for negligence by consumers.
The Federal Court opined that, in reality, the bargaining powers of the parties in banking agreements are unequal, whereby if a financial consumer wished to obtain financial services from banking institutions, the financial consumer has to accept the terms and conditions of a standard contract prepared by the banking institutions.
In this regard, the Federal Court was of the view that there would be patent unfairness and injustice to allow the banking institutions’ absolute exclusion clause to deny the plaintiff’s rights in this case and applied the principle of public policy in arriving at its decision.
Furthermore, the Federal Court emphasised that section 24(c) of the Contracts Act 1950 provides that the consideration or object of an agreement is not lawful if it is opposed to public policy.
Source: EdgeProp.my
