A proposed commercial development by Ideal Design Management Sdn. Bhd. in Bayan Baru. Strategically located next to the intersection of Jalan Tengah and Jalan Mayang Pasir, adjacent to Pantai Hospital. The land is approximately 8.5 acres, currently occupied by Giant Hypermarket.

This development will see the demolition of the existing 2-storey building, for the construction of several high-rise towers and shop offices in two phases:

Phase 1

• Tower A1: 39-storey serviced residence (589 units)
• Tower A2: 39-storey serviced residence (589 units)
• Tower B: 39-storey serviced residence (820 units)
• 3-storey shop offices (55 units)

Phase 2

• Tower C: 27-storey office suites
• 3-storey shop offices (30 units)

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

Project Name: (to be confirmed)
Location : Bayan Baru
Property Type : Serviced residence & shop offices.
Built-up Size: (to be confirmed)
Total Units: 1,998 (serviced residence), 85 (shop office)
Indicative Price: (to be confirmed)
Developer : Ideal Design Management Sdn. Bhd.

Location Map:

DISCLAIMER: This review is based on source taken from a public portal. This is not an advertisement by the developer or agent, unless stated otherwise. Any claims, statistics, quotes or other representation about a project or service should be verified with the developer, provider or party in question.

The Real Estate and Housing Developers’ Association Malaysia (Rehda) Institute has proposed affordable housing price thresholds in Peninsular Malaysia, with residential units in Kuala Lumpur and the Klang Valley topping the list at RM500,000.

In its summary research report on affordable housing released today, Rehda Institute said the benchmark for affordable housing varied across the country, based on the states’ median income loan eligibility.

Herewith, the thresholds proposed by Rehda Institute:-

• Urban 1 : Kuala Lumpur and Klang Valley: RM500,000
• Urban 2 : Other parts of Selangor, Penang Island and Johor Bahru: RM400,000
• Urban 3 : Seberang Perai (Penang), Johor, Melaka, and Negeri Sembilan: RM350,000
• Urban 4 : Terengganu, Kedah, Perak, Perlis, and Pahang: RM250,000
• Urban 5 : Kelantan: RM200,000

The report states that affordable housing is currently being built across the country but there is no market demand for it as 14,739 units fetching below RM500,000 were unsold as at the first quarter of 2018.

The research identified nine structural problems in the current affordable housing system, namely the fragmented and unlevel playing field, rigid housing policies, noted unsuitable location, and land price.

Other issues pointed out were the uneven cross-subsidy, rising development cost, unproductive use of public resources, low financial capacity for Bottom 40 and Middle 40 income groups, and absence of housing market data.

The research says that unsold Bumiputera quota that is not released to the open market was also adding up to holding cost and overall cost of development.

“This will add to increase prices of non-Bumiputera lots as cost per unit is passed on to the buyers,” it said.

In order to resolve the problems, the research suggests that it is the government’s responsibility to build affordable housing and the private sector to deliver market-driven properties without price control and quota.

It also suggests that the government must walk the talk to unlock land for social and public housing purposes, as well as housing financial assistance.

However, Rehda Malaysia President Datuk Seri Fateh Iskandar said that the findings did not reflect the stand of the association.

“Rehda Institute is an independent arm of Rehda Malaysia. Their research and studies were done independently,” he told a press conference after the presentation of the research today.

Stressing that Rehda acknowledged the growth of intrastate migration, especially to cities like Kuala Lumpur for various reasons, including work and education, he said housing demand was on the rise due to such migration.

“Once the economy picks up again, the demand for housing will be greater and we need to find a solution to this, in which we hope the government can work with us,” it said.

Rehda Institute will compile its full report in four to five weeks’ time.

Source: Bernama

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Swedish home furnishings retailer IKEA today announced its recruitment drive for the new store, IKEA Batu Kawan, Penang. Malaysians from all walks of life, especially those living in Northern Malaysia, are welcome to attend the walk-in interview fair to be held from 27 to 29 July 2018, 9am daily at The Light Hotel in Seberang Jaya, Penang.

The new store, which is situated in the promising Batu Kawan township, is set to extend over 200 job opportunities in the region. This is made possible through the full-time and part-time vacancies available, including roles in sales, customer relations, food & beverage, logistics, warehouse and more.

Following the recruitment drive, successful candidates will undergo training ahead of the opening of IKEA Batu Kawan, scheduled for 28 March 2019. The long lead-time ensures the team is well prepared to provide customers a consistent IKEA shopping experience.

As part of the overall expansion plan in Southeast Asia, the arrival of IKEA Batu Kawan, the first store in the northern region will further extend convenient access to well-designed, functional and quality home furnishings at affordable prices. Connected through the Penang second link bridge from the island and major highways, Lebuhraya Bandar Cassia and North-South Expressway, the new store is set to provide home furnishing solutions that meet the increasingly urbanised Penangites and Northern Malaysians.

Find out more about IKEA Batu Kawan

Central Skies, an upcoming commercial high-rise development by Oriental Max Group in Bukit Tengah, Penang. Strategically located next the group’s gated and guarded project, Central Way 2 and highly visible from the North-South Expressway. It is accessible through Jalan Bukit Tengah.

This development comprises two blocks of 25-storey serviced apartment, featuring 391 units of residential suites.

Project Name : Central Skies
Location : Bukit Tengah, Penang
Property Type : Serviced apartment
Built-up Size: (to be confirmed)
Total Units: 391
Indicative Price: (to be confirmed)
Developer :Ocean Mix Sdn. Bhd. (Oriental Max Group)

Location Map: