Queens Residences is an on-going waterfront development by Ideal Property Group at Bayan Bay. It is strategically located next to Queensbay Mall, facing Jerejak Island. The project will be developed on the reclaimed land in four phases, comprising more than 2,100 residential units.

If you are one of the proud owners of Queens Residences and wondering about the progress of the construction at Bayan Bay, here are some latest photos taken at the project site:

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The Ministry of Urban Wellbeing, Housing and Local Government must give home buyers the right to be heard before developers are given an extension of time (EOT) to complete a project, the Court of Appeal ruled today.

The landmark decision will have far-reaching consequences for homebuyers whose properties are delivered late — as at April 3, 2017, the ministry had issued 304 EOTs to developers, without specifying the number of homes that fall under the affected projects, reported Malaysiakini.

“We are happy with the landmark decision by the Court of Appeal. The decision is a victory to all house buyers. It is in line with our mission of protecting the interest of house buyers. This is a matter of public interest,” National House Buyers Association (HBA) secretary-general Chang Kim Loong told EdgeProp.my.

“We brought this up because the Minister [of Urban Wellbeing, Housing and Local Government] had been led by the developers, who shared their alleged hardship, and request for EOTs on the threat of alleged possible abandoning of the project due to financial difficulties. Financial difficulties, if any, are a business risk. If you run into losses, do not pass the buck onto homebuyers.”

The case was brought by 104 homebuyers against the Ministry of Urban Wellbeing, Housing and Local Government and developer BHL Construction Sdn Bhd.

This decision is the latest in a three-year legal battle by the 104 house buyers, who were represented by 12 lawyers with Datuk Andy Wong as lead counsel, who undertook the case pro bono.

The buyers filed the judicial review application on July 2016, challenging Regulation 11(3) and also the EOT issued on Nov 17, 2015.

Malaysiakini reported that a three-member panel unanimously ruled that homebuyers must be consulted before the developer applies for an EOT.

The panel, which was led by Justice Datuk Wong Dak Wah that also comprised Justice Datuk Harmindar Singh Dhaliwal and Justice Datuk Hasnah Mohamed Hashim, had also ruled that the EOT granted to BHL Construction for 12 months is null and void as it was not signed by the controller of housing, but by a person named N Jayaseelan, in broad grounds read by Justice Harmindar.

“Since the minister did not file any affidavit to provide some clarity, the contention that the minister was not the one who made the decision has merit and cannot be dismissed lightly.

“We are, therefore, of the view that the order as contained in the Nov 17, 2015, letter, was made without jurisdiction and ultra vires to the Act. Accordingly, we hold that the order in the said letter is a nullity and of no effect,” said Justice Harminder.

However, the bench ruled and disagreed with the Kuala Lumpur High Court, saying that Regulation 11(3) of the Housing Development Regulation Act 1989 was not ultra vires or against the Housing Development Act (Control and Licensing) Act.

Regulation 11(3) allows the minister to issue EOTs to developers via the housing controller, but Section 24(2) of the Act allows the minister to regulate the contract between the developer and the homebuyer.

Real Estate and Housing Developers Association (Rehda) deputy president Datuk Soam Heng Choon said the decision, particularly on the ruling over Regulation 11(3) not being ultra vires, was consistent with the association’s view.

“Typically, developers will ask for a longer construction time upfront from the ministry, where they will have to go through a rigorous review process with committees in the ministry.

“There is a caveat, where if there is serious force majeure, then we will request for the EOT,” he explained to EdgeProp.my.

“Developers should not abuse the EOT,” he stressed.

Justice Harmindar also said that as the buyers are a group that can be easily ascertained, they should at least be notified of the developer’s application for EOT to complete the project, and given a reasonable amount of time to state their views before any decision is made.

HBA’s Chang said: “The minister must listen to the plight of homebuyers too whose plans will be derailed if the development is handed over late.

“There is currently no opportunity for house buyers to contest or appeal against the EOT — they only find out once the letter is delivered to them. This should be changed to give them an opportunity to speak.

“With the Court’s decision, the buyers now got the right to be heard.”

Source: EdgeProp.my

The almost unchanged salary over the years is the reason why many are deprived of the luxury to own a house, said a national association for developers.

The Real Estate and Housing Developers’ Association Malaysia (Rehda), which represents the interests of about 1,400 property developers, said there is a need to revisit key fundamentals related to housing unaffordability.

Rehda president Datuk Seri Fateh Iskandar Mohamed Mansor said it is important to look at the structural issues related to the country’s economy.

“It is said that the maximum affordable price for a house in Malaysia is RM282,000. But the World Bank said Malaysia is one of the affordable places to own a home. So, we have two conflicting views.

“The RM282,000 figure is because the salary has not gone up,” Fateh Iskandar said in Petaling Jaya (PJ) yesterday.

Developers have been blamed for jacking house prices, overbuilding and constructing properties which are not suitable for the salary brackets of most Malaysians.

Data released last year showed houses in Kuala Lumpur (KL), PJ, Johor Baru and Penang are the “most unaffordable” in comparison to the average household income levels.

Georgetown tops the list with the highest median house price at RM600,000 when the maximum housing-cost burden (HCB) is only RM256,000. KL is second with an average house price of RM580,000 when the maximum HCB is RM385,000.

Bank Negara Malaysia (BNM) in its annual report said houses continue to be unaffordable, especially in key employment centres.

The central bank said unsold housing units reached 129,052 as at end-September 2017. More than 80% of the unsold units are priced at RM250,000 and above.

Total unsold residential properties rose to a decade high of 146,497 units in the second quarter of 2017 (2Q17).

The central bank’s annual report 2017 also underlined that the bottom 40% of households by income only grew from RM2,537 to RM2,848, about a RM150 increase annually between 2014 and 2016.

BNM’s report also outlined a living wage for a single adult in KL would be RM2,700, a couple without child (RM4,500) and a couple with two children (RM6,500).

But the living wage for the three categories would be sufficient to rent one room (adult single), a one-bedroom apartment (a couple without child) and a three-bedroom apartment (a couple with two children).

Fateh Iskandar hopes the association will be given the avenue to discuss its views with the authorities.

He suggested more efforts to build units for rental to resolve the house affordability issue.

Source: The Malaysian Reserve

The RM6mil phase 1 of the Sia Boey Rejuvenation Project is expected to be completed in August.

During the unveiling of the artist’s impressions of the project, Chief Minister Lim Guan Eng said phase 1 would see the rehabilitation of the Prangin canal, conservation of the old Prangin market and upgrading of the site’s landscaping.

He added that phase 2 would involve the restoration of the shophouses in the area and upgrading of the surroundings.

“Sia Boey harbours a large archaeological investigation at the old Prangin canal basin and police barracks.

“The core objective of the project is to transform Sia Boey into a site where development and heritage conservation can coexist,” he said at the launching of the Sia Boey Rejuvenation Project on Sunday.

The project is headed by the Penang Development Corporation in cooperation with George Town World Heritage Incorporated (GTWHI).

According to GTWHI, the Sia Boey site is also part of Komtar’s phase 5 development project.

Sia Boey, also known as Ujung Pasir, was a bustling market in its heyday.

Lim said the vision of this project was protecting Sia Boey’s heritage buildings and practices while promoting a sustainable and liveable public space.

“Sia Boey will be transformed into an urban park that emphasises heritage. The park can also be a community platform for events traditionally carried out in the area.

“There are plans to turn Sia Boey into a centre for traditional trades and crafts.

“The renewed Sia Boey will also serve as a green lung for George Town and Komtar’s phase 5 as well as 1st Avenue and Prangin Mall area.

“The project has the potential to become an icon of George Town.”

Lim added that the project could transform the area of Komtar’s phase 5, 1st Avenue and Prangin Mall into the socio-civic business hub of the state.

Also present were Deputy Chief Minister I Datuk Mohd Rashid Hasnon, Komtar assemblyman Teh Lai Heng, Penang Island City Council mayor Yew Tung Seang and GTWHI general manager Dr Ang Ming Chee.

The public can view the artist’s impressions at an exhibition to showcase the project’s overall plan which covers the rehabilitation of Prangin canal along with the conservation of the Prangin market and the shophouses.

Visitors can also give feedback at the exhibition which will be held from now until Friday at the Sia Boey market and at the GTWHI office in Lebuh Acheh from April 2 to April 6. It is open from 8am to 5pm.

Source: TheStar.com.my

Opening in 2019, IKEA Batu Kawan will become the fourth IKEA store in Malaysia, with two in Klang Valley and another in Johor Bahru, Tebrau. This new store promises to satisfy Penangites’ hunger for affordable home furnishings – and those famous Swedish meatballs!

Here is a quick update on IKEA Batu Kawan. The construction of the IKEA Batu Kawan store progresses as planned and on track for completion in the second half of 2018.

You may check out some progress photos below:

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