Picture for illustration only

A proposed waterfront residential development project by Blue Wagon Sdn. Bhd. at Teluk Air Tawar in Butterworth. Located on a seafront land by the Andaman Sea, adjacent to QuaySide @ Clear Water Bay (Phase 1). It is about 20 minutes drive from Penang bridge via North-South Expressway, just a stone’s throw away from SMK Telok Air Tawar.

This development will see the construction of six 13-storey condominiums in two phases, offering a total of 398 residential units. The plan also include two 5-storey multi-storey carpark.

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

Project Name : (to be cofirmed)
Location : Teluk Air Tawar, Butterworth, Penang
Property Type : Condominium
Built-up Size: (to be confirmed)
Total Units: 398
Indicative Price: RM400,000 onwards (estimated)
Developer : Blue Wagon Sdn. Bhd.

Location Map:

The Housing and Local Government Ministry is working with Bank Negara Malaysia (BNM) to ease housing loan requirements for home buyers, in a bid to reduce the number of unsold completed residential units in the country.

Minister Zuraida Kamaruddin said the central bank is preparing guidelines to allow for the relaxation of lending schemes.

“Current unsold units are mainly due to location, accessibility, loan approval and high cost of buying houses. Last week, we have had meetings with the central bank, banks, the Employees Provident Fund and the Ministry of Finance,” she told a press conference today.

“God willing, the outcome of the meetings was that BNM will prepare a preliminary paper that comes with brief guidelines for the industry to have more relaxed borrowing schemes, (to help) ease the difficulties for home buyers to get loans,” she added.

Zuraida said preparation is still in progress and that the final proposal would be made by August.

“I think by August, we can come out with the full plan, which will be presented by the ministry. Hopefully, we can launch the new loan package for the B40 (bottom 40%) and M40 (middle 40%) (household groups),” she said.

According to the National Property Information Centre’s (Napic) first-quarter property overhang data, Malaysia saw a total of 34,532 unsold and completed residential properties, including serviced apartments and small-office home-office units as of 1Q2018, worth RM22.67 billion.

The figure has risen by as much as 40%, from the 24,738 units worth RM15.64 billion recorded end of last year.

Of the latest figure, 29% or 9,848 units are serviced apartments, 24% or 8,315 units are condos, while 18% or 6,336 units are 2- and 3-storey terraced houses.

Source: TheEdgeMarkets.com

The Penang government intends to apply to the federal government to upgrade the Seberang Perai Municipal Council (MPSP) to a city council.

Penang Chief Minister Chow Kon Yeow said the state government had earlier wanted to apply for MPSP to be upgraded together with the Penang Municipal Council (MPPP) as city councils.

However, he said, due to the federal government policy of limiting one city to a state, the state government only applied for MPPP to be granted city status. This was obtained in 2015.

“MPSP had met the criteria for a city since 2008, but due to the policy we did not apply.

He hopes that the new federal government will revise the restriction.

“Our officers will follow up with the ministry to determine the current situation,” he told reporters after the swearing in of 24 MPSP councillors, including 11 new ones.

The councillors were sworn in for the July 2018 to December 2019 term at the MPSP Building, Bandar Perda, here on July 2.

Source: Bernama

You are cordially invited to S P Setia’s Hari Raya open house and the opening of the new Setia Sky Vista Sales Suites @ Lebuh Relau, Penang.

Catch Alvin Chong & Nik Qistina’s LIVE performance!
For event inquiries, please call S P Setia at 04-6412255 / 010-393 8804.

Date/Time
7 July 2018 (Saturday), 6:00PM–10:00 PM

Venue
Setia Sky Vista Sales Suites, Lebuh Relau, Penang

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Please Call: 016-458 8080 / 017-332 8382

Date/Time
8 July 2018, 2PM-6PM

Venue
Mont Residence Condominium (Level 7)
Mount Erskine, Tanjung Tokong

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