Grace Harmony, the latest affordable housing by Nova Land Development Sdn. Bhd. at Jelutong, Penang. It is strategically located near Nova Place and Grace Residence by Nova Mulia Development, easily accessible via Tun Dr Lim Chong Eu Expressway.

This development will see the demonstration of 34 existing houses and workshops for the construction of a 44-storey affordable housing. The new housing will offer 444 affordable and 310 low medium cost residential units. Indicative selling price start from RM100,000 onwards.

The project is now open for registration. More details to be available upon project launch.

READ MORE ABOUT AFFORDABLE HOUSING:

• Eligibility and the requirement of buying affordable housing
• Full list of affordable housing in Penang

Property Project : Grace Harmony
Location : Jelutong, Penang
Property Type : Affordable Housing
Built-up Area: 700 sq.ft., 850 sq.ft.
Total Units: 444 (affordable), 310 (low medium cost)
Indicative Price: RM100,000 (LMC), RM300,000 (Affordable) onwards
Developer: Nova Land Development Sdn. Bhd.

Location Map:

DISCLAIMER: This article is solely based on research done using publicly available data. This is not an advertisement. Any claim, statistic, quote or other representation about a project or service should be verified with the developer, provider or party in question.

The residential overhang in Penang more than doubled to 3,916 units worth RM3.82 billion in 2017 from 1,896 units worth RM1.47 billion in 2016, the Valuation and Property Services Department (JPPH) said in a report.

In its “Malaysian Property Market Report 2017”, JPPH said the majority of residential overhangs in the state were condominiums and apartments priced at above RM500,000 per unit.

Overhang units are defined as completed properties that remain unsold at least nine months after completion.

“Similarly, the unsold [units] under construction recorded a 13.9% increase with 9,249 units (2016: 8,119 units). The unsold not constructed [units], however, decreased significantly by 97.3% to 80 units in 2017 (2016: 2,918 units),” said the report.

The primary market recorded fewer new launches with 3,879 units in 2017, down by 31.3% against 5,646 units in 2016.

Sales performance for the new launches last year – of which condominiums and apartments accounted for 65% – was promising at 39%.

As at end-2017, there were 497,396 existing residential units with another 44,046 units of incoming supply and 24,597 units in planned supply.

The industrial sub-sector also observed a higher number of overhang units.

According to the report, there were 110 overhang units worth RM178.85 million recorded in 2017, an increase of 22.2% in volume and 36.6% in value against 2016.

On the other hand, the overhang situation in the shop segment has improved significantly.

There were 90 units worth RM50.17 million recorded last year compared with 208 units worth RM151.12 million in 2016, a drop of 56.7% in volume and 66.8% in value.

Similarly, the performance of shopping complexes in the state improved with an average occupancy rate of 72.6%, higher than 69.9% recorded in 2016.

“The annual take-up was positive at 72,356 sq m, attributed to the high take-up in the newly completed Design Village Outlet Mall in Batu Kawan,” noted the report.

Overall, Penang’s property market performance softened further in 2017.

Total property transactions were down by 9.6% year-on-year to 16,592 while value climbed 8.6% to RM10.39 billion.

Market activity across all sub-sectors recorded downtrend except for industrial (+2%).

The commercial sub-sector led the decrease by 20.8%, followed by development land (-12.6%), and the residential (-8.7%) and agriculture (-5.6%) sub-sectors.

In terms of value, all sub-sectors trended upward with the exception of commercial (-11.9%) and industrial (-25.4%).

“The future outlook for the state’s property market is expected to be promising, supported by the on-going and upcoming projects. Infrastructure for transportation continues to be one of the key development agendas for Penang Island,” said the report.

Source: EdgeProp.my

The Zen, the latest mixed development by Asia Green at Bayan Mutiara. Strategically located next to Tun Dr. Lim Chong Eu Expressway, just a short drive away from Penang World City integrated development by Tropicana Ivory. This development comprises around 2,000 condominium units in two 46-storey residential towers, 1,200 units of which are categorized under affordable housing. There are also several shop offices located at the first and second level.

The affordable units has a standard built-up size of 850 sq.ft. with 3 bedrooms and 1 car parking lot. It also comes with full facilities with swimming pool, 180 viewing sky deck overlooking the seaview and bridge, jacuzzi, children playgound, gym and many more!

(Actual site – Nov 2017)

READ MORE ABOUT AFFORDABLE HOUSING:

• Eligibility and the requirement of buying affordable housing
• Full list of affordable housing in Penang

Project Name : The Zen
Location : Bayan Mutiara, Penang
Property Type : Mixed development
Built-up Area: 850 sq.ft. onwards (residential)
Total Units: 1,200 (Tower A), 730 (Tower B), 86 (Shop offices)
Indicative Price : RM300,000 onwards
Developer: Asia Green

Location Map:

SITE PROGRESS

SITE PROGRESS: The Zen & Zen 6 (Aug 2023)

SITE PROGRESS: The Zen & Zen 6 (Mar 2023)

SITE PROGRESS: The Zen (Dec 2022)

SITE PROGRESS: The Zen (Oct 2022)

Asia Green’s The Zen expected to be ready early next year

SITE PROGRESS: The Zen (Dec 2021)

SITE PROGRESS: The Zen (Aug 2021)

SITE PROGRESS: The Zen (March 2021)

SITE PROGRESS: The Zen (Jun 2020)

SITE PROGRESS: The Zen (Sep 2019)

In the last pristine corner of Penang island, a piece of old Penang is being recreated — a township with lush tropical landscapes that soothe and rejuvenate.

With spacious grounds for children to freely run and play in, Botanica.CT in Balik Pulau is where one finds absolute peace of mind and an unmatched quality of life.

A township planned, designed and built from the ground up to give families the lifestyle they have always dreamt about, it is a self-sustainable garden community where green is the theme.

Completed developments in this township so far are terrace houses, semi-detached houses, bungalows, the Botanica Mansion, Prince of Wales Island International School and an auxiliary police station.

The semi-detached units are priced from RM1.044mil and have built-ups ranging from approximately 3,000sq ft to 3,300sq ft.

Each has 4+1 bedrooms and four bathrooms, and sits on land sized from approximately 3,000sq ft to 4,200sq ft.

Meanwhile, the bungalows are priced from RM1.434mil and have built-ups ranging from 3,300sq ft to 3,500sq ft, with land sized between 4,200sq ft and 7,100sq ft. They have 5+1 bedrooms and five bathrooms.

In 2019, Balik Pulau will have its very first supermarket — located in the 6.5-acre Botanica CT Centre commercial development by MTT Properties & Development Sdn Bhd.

There will be an 80,000sq ft supermarket to be anchor-tenanted by TF Value Mart Sdn Bhd, alongside two drive-thru restaurants, the Botanica.CT Sales Gallery and 18 units of 2-storey shop lots.

This parcel is now open for registration and expected to start construction in second half of this year.

Source: TheStar.com.my

A building still under construction (Tri Pinnacle) at a site in Tanjong Tokong caught passers-by and motorists off guard after smoke started billowing from the premises.

The Bagan Jermal Fire and Rescue Department fire station received a distress call about 5.30pm yesterday on the incident as thick smoke could be seen from the sixth floor of the building.

Soon after the call, several fire engines were immediately dispatched to the scene to put off the blaze.

Other fire engines from Paya Terubong, Teluk Bahang, and Jalan Perak also raced to the scene to assist in the operation.

Upon reaching the scene, the fire personnel also managed to rescue a crane driver who was trapped on top of the 46th floor.

A Bagan Jermal Fire and Rescue Department spokesman said fire personnel managed to put off the fire by 7.15pm.

The cause of the fire is still under investigation.

No casualties were reported in the incident.

Source: TheSunDaily.my