Penang Chief Minister Chow Kon Yeow has expressed his confidence that the state’s property market will be promising in the near future as the present soft market situation is only a cyclical phenomenon.

“The promising future for the Penang’s property market is also supported by the state’s strong economic fundamentals and upcoming infrastructure projects for transportation such as the Penang Transport Master Plan, which continues to be a key agenda of the state government,” he said when officiating the launch of the state’s Home Ownership Campaign – Malaysia Property Expo 2019 (HOC-MAPEX 2019) in Seberang Perai Arena yesterday.

Chow urged the property developers in Penang who have approval for affordable housing project to be more prudent and aware of developments in the property market.

The three-day Penang HOC-MAPEX 2019 ending tomorrow showcases more than 3,000 units of properties worth over RM3 billion from 20 participating property developers.

The event is part of the national Home Ownership Campaign 2019 (HOC 2019) initiative by the Federal Government to address the nation’s property overhang issue and also to increase home ownership among Malaysians.

HOC 2019, a partnership between the Ministry of Finance, Ministry of Housing and Local Government and Real Estate & Housing Developers’ Association (Rehda) Malaysia, was officially launched by Prime Minister Tun Dr Mahathir Mohamad on March 1.

During HOC 2019, Malaysian home buyers can enjoy stamp duty waivers for the purchase of certain categories of residential units priced from RM300,001 up to RM2.5 million (before discount), as well as incentives including a minimum of 10 per cent discount for all properties, extra rebates, renovation packages and special packages by individual property developers.

Source: EdgeProp.my

Property Insight is proud to present the fifth edition of the annual Property Insight Prestigious Developer Award (PIPDA) 2019, which will be held at the Shangri-La Hotel on the evening of 3rd May 2019.

The award ceremony/gala dinner is supported by the Ministry of Housing & Local Government (KPKT), and the event will be officiated by YB Puan Zuraida Binti Kamaruddin, the Minister of Housing & Local Government.

PIPDA works as an independent bi-partisan body that qualifies award recipients through four main judging criterions – Track Record, Concept, Value Creation and Design. The key driving factor behind PIPDA is to recognise innovation and outstanding achievements committed by individuals, groups or even sector projects in the industry.

The judge’s lineup for this year’s PIPDA include

• Eric Lim, President of Malaysian Institute of Estate Agents (MIEA)
• Datuk Paul Khong, Managing Director of Savills Malaysia
• Ar Ezumi Harzani, President of Pertubuhan Arkitek Malaysia (PAM)
• Dr Dolf de Roos, New York Times and Wall Street Journal Bestselling Author
• Dr Suhardi Maulan, President of Institute of Landscape Architect of Malaysia (ILAM)

PIPDA is widely recognised within the property industry, and it is a tribute to the continually evolving property landscape here in Malaysia. “This year’s award will be bigger, better and grander than what we have previously accomplished. I pray that PIPDA 2019 is able to push the industry forward to greater heights,” commented Dato’ KK Chua, managing director and editor-in-chief of Property Insight.

About Property Insight
Property Insight is currently Malaysia’s number one top selling property magazine with nationwide coverage, garnering about approximately 230,000 followers on social media. Now with six years of consecutive publishing, Property Insight is the premier source for in-depth analysis on trends, highlighted issues within the property industry prevalent to homebuyers and investors.

Taman Keladi Indah, a landed residential development by Gandingan Semangat Sdn. Bhd. at Bertam. Located along Jalan Panglima 3, adjacent to Taman Bertam Perdana and SMK Bertam. This development is only about 4km to Setia Fontaines township by S P Setia, under 10 minutes drive from Bertam toll plaza.

This project comprises 57 units 2-storey terrace and 8 units 2-storey semi-detached houses. Indicative price for the terrace houses starts from RM410,000 onwards.

Project Name : Taman Keladi Indah
Location : Bertam, Penang
Property Type : 2-storey terrace and semi-detached
Land Area: (to be confirmed)
Built-up Area: (to be confirmed)
Total Units: 57 (terrace), 8 (semi-d)
Tenure : Freehold
Indicative Price: RM410,000 (terrace), RM568,000 (semi-d)
Developer : Gandingan Semangat Sdn. Bhd.

Location Map:

Picture for illustration only

Proposed landed residential development by Kayangstar Property Sdn. Bhd. in Batu Maung, Penang. Located along Jalan Batu Maung, accessible via Lorong Batu Nilam 1. It is adjacent to Sunway Mutiara housing scheme by Sunway Property Group, approximately  2km away from Penang Second Bridge.

This development comprises a total of 28 units 3-storey semi-detached and terrace houses. It was formerly owned by Seal Properties Sdn. Bhd. (known as Sapphire @ Batu Maung), been sold to Kayanstar Property Sdn. Bhd. in 2017.

More details to be available upon official launch.

Project Name : (to be confirmed)
Location : Batu Maung, Penang
Property Type : 3-Storey Semi-Detached & Terrace
Land Area: (to be confirmed)
Built-up Area: (to be confirmed)
Total Units: 14 (semi-d), 14 (terrace)
Tenure : Freehold
Indicative Price: (to be confirmed)
Developer : Kayangstar Property Sdn. Bhd.

Location Map:

A subsidiary of Tambun Indah Land Bhd is acquiring 27 parcels of freehold land in Penang for RM131mil in cash.

The group, in a filing with the stock exchange, said it has proposed to provide up to RM3.45mil in shareholders’ advances to its 70%-owned subsidiary, Mustiara Sdn Bhd, to fund the acceptance deposit and other costs of the acquisition.

The parcels of freehold land Mustiara plans to acquire from TPPT Sdn Bhd measure in aggregate about 209.54 acres, and are located in the district of Seberang Perai Selatan.

The group said Mustiara had, yesterday, paid the acceptance deposit of RM2.62mil, and the acquisition would be subject to a formal sale and purchase agreement to be entered into between the companies.

Tambun Indah said it anticipates extending financial assistance totalling RM3.45mil to Mustiara in shareholders’ advances, when necessary, with the advances subject to an interest rate of 5.12% per annum, calculated on a monthly basis.

Source: TheStar.com.my