The Local Plans (LP) for districts on Penang Island and Seberang Prai are expected to be finalised and gazetted by 2017 according to Penang Housing, Town and Country Planning Committee chairman Jagdeep Singh (pix).

He said the only outstanding Special Area Plan (SAP) left was the Botanical Gardens SAP which is also expected to be completed and gazetted by next year.

He said the completion of the LP and SAP will make it possible for the State Structure Plan 2020 (PSP 2020) to be gazetted soon.

“The state government had intended for the various SAPs to be finalised to be incorporated into the PSP 2020,” he said in delivering his report card for 2016 today after distributing calendars to constituents at Taman Free School here.

Jagdeep also said the state was firm on setting up workers dormitories for foreign workers where one project, out of four submitted so far, is slated to begin construction in 2017 at Bukit Tambun.

He said there will be opposition to such projects but pointed out such housing was needed to address issues of foreign workers “flooding housing estates” which can cause social problems.

“People will complain but there will also be people who complain ‘why are there foreign workers in my estate?’,” he said.

Jagdeep also defended the move to allow the density to increase from 87 units per acre to 128 units per acre for certain development projects.

He said this allowed for a reduction in the size of the units for a project which would invariably see a reduction in price for such units.

“The rational behind this move was to make units built under these guidelines more affordable,” he said.

On the provision of affordable housing by the state, Jagdeep said the first phase of Bandar Cassia in Batu Kawan was 91% completed to date and the certificate of completion (CCC) was expected to be obtained in 2017.

Other state projects are at Kampung Jawa (48.3% completed) and Teluk Kumbar (32% completed) and he vowed to ensure these were delivered in a timely fashion.

He also pointed out the Pakatan government has delivered 11,487 low-cost (LC) and 9,400 low-medium cost (LMC) housing units since 2008 compare to the previous government which delivered 4,355 LC units and 769 LMC units from 2000 to 2007.

Source: TheSundaily.my

A proposed gated and guarded development by Frasers Global Sdn. Bhd. at Alma in Bukit Mertajam. Located next to Taman Alma Jaya, just a mere minutes drive to AEON Mall and Tesco Hypermarket.

This development comprises 24 units of 3-storey semi-detached houses. It would be very interesting to see how these houses can be designed to fit into this narrow lot of land.

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

Project Name: (to be confirmed)
Location : Alma, Bukit Mertajam, Penang
Property Type : 3-storey semi-detached (gated & guarded)
Total Unit: 24
Built-up Area: (to be confirmed)
Indicative Price: (to be confirmed)
Developer: Frasers Global Sdn. Bhd.

Location Map:

Property developers are expected to register another year of slow performance in 2017 amid a lack of catalysts for the segment, as cooling measures introduced by the central bank to rein in speculation continue to be the main hurdle for property companies.

Kenanga Investment Bank Bhd analyst Sarah Lim said property developers are not expected to register significantly better sales in 2017, with no apparent improvement on the banking front.

“In general, in terms of developers’ primary sales, we don’t expect there to be significant improvement in 2017 compared to 2016, one of the reasons being that we don’t foresee any major improvement in bank loan growth,” she told The Edge Financial Daily.

She said concerns still revolve around the tighter liquidity situation, while Bank Negara Malaysia would either maintain or further cut the overnight policy rate amid uncertainties over the global economy, which means that the subdued situation will not change anytime soon.

The central bank reduced the key rate by 25 basis points to 3% during the Monetary Policy Committee meeting in July, as it cited “increasing signs of moderating growth momentum in the major economies” and increased downside risks following the UK’s Brexit vote.

“The loan-to-deposit ratio (LDR) is still very high and until we see some improvement in the LDR, I think the performance of banks would not be significantly different from 2016, which means that there won’t be much changes for developers next year,” said Sarah.

In November, Bloomberg reported that Malaysian banks are turning cautious about lending amid sell-offs in the ringgit and the surge in volatility after the US presidential election. While banks are wary of lending more to households — already one of the most indebted in Asia — risks to global growth are also crimping Malaysian companies’ appetite to borrow and spend, said the news agency.

Meanwhile, Sarah said developers will still be focusing on affordable units, but added that more land deals are expected to come up next year, after a quiet deal landscape in 2016.

“The land deal landscape has been very quiet this year. We expect to see more landbanking deals coming up as prices are coming to a softening point. In the last five years, land prices have gone up quite a bit, so we expect bit more [deals] next year, compared to 2015 and 2016.

“The emphasis will still be on township land banks and affordable projects,” she said.

Similarly, MIDF Research analyst Alan Lim said property developers’ sales next year, at best, would be similar to 2016 levels, with the spotlight still on the affordable housing segment.

“This is due to the ongoing weakness seen in consumer confidence. Note that the latest publication from the Malaysian Institute of Economic Research shows that [the] 3Q16 (third quarter of 2016) consumer sentiment index (CSI) weakened to 73.6 from 2Q16’s 78.5,” he said.

Alan added that while household income had improved, the employment and financial outlook is still uninspiring.

“We believe the data suggests that [the] demand outlook for potential property buyers remains soft in 2017, and they are likely to remain price-sensitive,” he said.

However, Affin Hwang Investment Bank Bhd analyst Loong Chee Wei holds a contrary view. He believes developers could see better sales in 2017, after two consecutive years of contraction in sales volume amid tighter lending and generally dampened consumer sentiment.

He said the demand build-up — stemming from consumers delaying their big-ticket purchases — will drive a recovery in transactions next year.

“Consumers were hit by the goods and services tax implementation in April last year, so there were concerns over higher cost of living, which led to consumers holding off their purchases.

“We think property developers’ earnings could improve next year, amid more units launched that are priced below RM700,000, which should cater to the anticipated pent-up demand,” he said.

Loong noted that property developers across the board accelerated launches in the second half of 2016, which supported the better sales reported in 3Q16 and in the beginning of 4Q16.

However, he said the key challenge to the property segment remains the tight lending policy.

Read source: TheEdgeProperty.com.my

The year-end holiday season has turned into an unpleasant time for a family in Batu Maung – their neighbour operates a homestay and receives busloads of visitors at odd hours of the day.

Housewife Idah, 53, said that in a span of 10 days, four busloads of people arrived at her neighbour’s place.

She claimed that the three-storey terrace house in Batu Maung was turned into a homestay about a year ago, and people would arrive on almost all weekends and school holidays.

“In the beginning, they came in cars and vans and this did not cause much nuisance.

“Later, busloads of people started coming from all over the country,” she said when met at her house in Batu Maung yesterday.

Idah said that there was no peace of mind for her and her family ever since the school holidays started as the visitors would often make noise till late at night.

“We have difficulties getting to sleep. These people would leave their garbage outside the house, causing foul odour and attracting flies.

“We are also worried about our safety as these visitors, who are mostly Malaysians but from different states, are strangers to us,” she said, adding that most of the time she is alone in the house.

Idah claimed that she and her husband have spoken to the owner of the neighbouring house about the inconveniences caused by the visitors and he told them that he would look into it.

“He later stopped answering our calls,” she said, adding that she would write an official complaint to the Penang Island City Council (MBPP) and the Consumers Association of Penang (CAP) about the issue.

A check at the website of an online marketplace for homestay network, where the particular place has been listed, shows that the premises can accommodate up to 40 people and the check-in is round-the-clock.

When contacted yesterday, MBPP’s Building director Yew Tung Seang said they have received a lot of complaints related to such homestays, including several in Batu Maung.

“We are aware that these homestays are causing a lot of problems and we are looking into the matter,” he said.

READ MORE: TheStar.com.my

Tambun Indah Land Berhad has made its mark in thriving southern Seberang Prai in Penang with its flagship township of Pearl City.

Designed to foster communal living, the 1,140-acre integrated undertaking in Simpang Ampat is optimally situated near the Bukit Tambun North-South Highway interchange and the second Penang Bridge.

The latest offering is Pearl 28, a low-density enclave of freehold linked double-storey semi-detached homes with generous living spaces of 2,846sq ft.

Comprising five bedrooms and five bathrooms, the units are priced from RM680,000 and targeted for completion in mid-2017.

Those seeking affordable landed homes will find Pearl Tropika an ideal choice with its double- storey terrace units priced from RM438,000.

The gated freehold Raintree Park provides a relaxing way of life in a safe environment. The double- storey terrace homes here come with a back yard. They are priced from RM468,000.

With OC to be obtained soon, buyers need pay only a RM5,000 downpayment until vacant possession.

Residents get to indulge in a modern lifestyle with recreation facilities including a pool, children’s wading pool and lush landscaping to accord serenity.

The twin 17-storey towers of Avenue Garden comprise of serviced apartments priced from RM268,000 and they come with two free car parking bays.

In becoming a part of the vibrant Pearl City community, buyers get to enjoy huge savings from attractive packages such as low downpayment, cash back, Ang Pow Dip and ZEC package.

Call the marketing personnel at 04-5010088 or drop by to view the show houses that are open daily.

Crossing over to the island in Jelutong, the freehold commercial suites of Straits Garden are fully furnished with stylish fittings and electrical appliances. Selling from RM438,000, only limited units are available.

Read More: TheStar.com.my