A public town hall on the Pan-Island Link (PIL) highway project has been announced, said NGO Citizen Awareness Chant group (Chant).

Chant advisor Yan Lee welcomed the timely move, reported Malaysiakini, saying the session will be organised by the federal government, and stakeholders would be invited to share their views.

The office of Energy, Technology, Science, Climate Change and Environment Minister Yeo Bee Yin had informed Yan Lee of the upcoming meeting.

“The scheduled meeting will surely bring benefits to all the people involved including the residents whose living space is expected to be affected by this highway construction,” Yan Lee was quoted saying by the news portal.

“The ministry plans to hold the dialogue session after receiving feedback, including from NGOs.”

Part of the Penang Transport Master Plan (PTMP), the highway was proposed by SRS Consortium, the state’s project delivery partner.

The project has received heavy criticism, due to fears of green lungs being decimated and explosives used for tunnelling works through Penang Hill.

Critics started a petition to reject construction of the PIL, garnering some 3,726 signatures, reported Malaysiakini.

There is also an opposing petition that calls for the approval and implementation of the PTMP, which includes the PIL. It has captured 10,000 signatures.

The public consultation period for the project has now been ordered extended by the Department of Environment, said Yan Lee. Requests by the Consumers’ Association of Penang and other groups have enabled this outcome.

The news portal reports that he urges the ministry to invite undersea tunnel concessionaire Consortium Zenith Construction Sdn Bhd to meet stakeholders during the town hall.

“It is important to explain to the people about the entire project, not just the PIL on how it will affect Penangites if it is carried out,” Yan Lee said.

Source: EdgeProp.my

Picture for illustration only

The Turf, a freehold residential development proposed by Chong Company facing Penang Turf Club. It is located along Jalan Batu Gantung, right next to to Scotland Villas condominium.

The project was initially proposed as a 34-storey residential building in 2012. It is now being revised to a 46-storey building, offering 228 unit residential units with 6-level multistorey carpark. It is yet to be known whether the project will have a new name.

Currently the project is still in its planning stage.  More details to be available upon official launch.

Property Project : The Turf (to be confirmed)
Location : Penang Turf Club, Penang
Property Type : Condominium
Tenure : Freehold
Built-up Area : (to be confirmed)
Total Units : 228
Indicative Price: (to be confirmed)
Developer : Chong Company

Location Map:

by Anders Ong

There are two main market in properties transaction, which comprise of:-

• Primary Market – Direct purchase of a new property from developers. Examples are under construction properties or projects off the plan and unsold units from the developers.
• Secondary Market – Direct purchase of properties from primary buyers or buying it from the auction markets.

Differences between Primary & Secondary Market.

 
Anders Ong – Young Property Investor, Writer and Enthusiast of Real Estate. 

Knight Frank Malaysia managing director Sarkunan Subramaniam said foreign investors are expected to return in the first quarter of 2019 on the back of more transparent policies with the new government.

“Rents of high-end condominiums will stabilise and prices will hold. As for the office market, rents will remain competitive due to oversupply in certain locations, with the exception of Penang, which has a robust office market with limited existing and incoming supply.

“The industrial and logistics sector is primed for growth into 2019 as Malaysia continues to draw healthy levels of investment in the manufacturing and services sectors,” he said in a statement today.

According to the Real Estate Highlights 1st Half of 2018 research report by Knight Frank Malaysia, there were some notable commercial investments which will continue to strengthen the property market.

As for the residential market, residential sales and leasing associate director Kelvin Yip noted that market sentiments improved in 1H2018 while buyers and investors are genuinely seeking good bargains now.

“Developers are now becoming more aggressive in promoting their products by conducting nationwide roadshows. Based on the current trend, we expect the residential market to record more transactions in 2H2018,” he said.

Executive director of corporate services Teh Young Khean said rail infrastructure within Greater Klang will continue to drive demand for office space in established and upcoming decentralised office locations.

He said the segment will continue to see active enquiries and leasing activities from co-working operators exploring new set-up or expansion in prime office buildings, in tandem with rising demand for flexible work space.

Meanwhile the retail market, which was subdued in 1H2018, is expected to show clear signs of recovery in 2019 if the economy performs well in 2H2018.

Associate director of retail leasing and consultancy Rebecca Phan said e-commerce will not disrupt the retail and shopping mall industry as it is unable to offer experiential shopping and suggested that mall operators invest more in entertainment and service-related trades.

Source: TheSunDaily.my

There will be a considerable number of changes in the National Housing Policy expected to be announced in September which includes the rental-tenancy market, the National Housing Department said.

Some of the laws will take two years to study and establish but the wheels of change are in the works, its director general N. Jayaselan said on Wednesday. These changes had been studied since one and half years ago.

He added new laws on commercial properties and rental legislation are being studied, and housing price thresholds to be built by public -private sectors.

Issues and legislations are being scrutinised based on what other countries are doing or have accomplished with the aim to make property development a sustainable sector, he said.

“Within the national policy there will be a subset on public housing, ” he said at the “Affordable Housing Conference 2018”.

Under this public housing segment, private developers want to establish affordable housing at RM500,000 while the government wants it at the RM300,000 level.

While the pricing threshold has yet to be agreed on, both the public and private sector have agreed about dividing the country into different regions in order to establish clarity in pricing.

Six agencies will come under the ministry namely PR1MA, Syarikat Perumahan Negara Bhd, RumahWIP, UDA, 1Malaysia Public Housing and Perumahan Penjawat Awam Malaysia (PPA1M), he said.

The rise in small offices home offices (SoHos) which come with residential element has made it necessary to have new laws governing such projects to protect buyers as well as establish clear cut guidelines governing such developments.

Jayaselan said while the national housing policy is being worked on and to be announced in September, the collection and recording of data from developers by the National Housing Department and the National Property Information Centre (Napic) is expected to begin in January 2019.

Source: TheStar.com.my