Interested to know what’s coming in Sungai Ara? Here are a list of newly proposed projects at Sungai Ara in 2016. These projects are still in their planning stage. Project name and launch date has yet to be confirmed.

1. Potential Dual Sdn. Bhd.
Affordable housing development by Potential Dual Sdn. Bhd. at Sungai Ara, Penang. It is strategically located along Changkat Sungai Ara 19, next to Siara 81. It’s only a stone’s throw away from Setia Pinnacle by SP Setia. This development comprises a 34-storey building with a mix of affordable and LMC units.

2. Palmex Industries Sdn. Bhd. (IOI Properties)
High-rise development by Palmex Industries Sdn. Bhd. in Sungai Ara, Penang. It is located off Persiaran Kelicap, next to the company’s ongoing Stramax Residences gated and guarded housing scheme. This development comprises two blocks of 35-storey condominium with 320 residential units.

3. WHH Land
Mixed development proposed by WHH Land at Sungai Ara. Located on a 5 acres land along Jalan Tun Dr. Awang, adjacent to Asia Green’s The Clovers development scheme. This development comprises a 34 building with two residential towers, offering 168 condominium units. The commercial component will offers a mix of 2 and 3-storey retail shop lots.

4. Corfield Development Sdn. Bhd.
High-rise residential development at Sungai Ara, Penang. It is located along Lilitan Sungai Ara, neighboring communities include Skycube Residence, Garden Ville, Sierra Residences, Imperial Residence and One Imperial. This development will features a 34-storey condominium with 416 residential units

5. Hunza Group
Proposed affordable housing by Hunza’s wholly-owned unit, Diamaward (M) Sdn Bhd, at Sungai Ara. It is located next to Taman Sungai Ara, about 1.5km away from SJK(C) Chong Cheng. This development comprises three 49-storey towers offering a total 1,390 affordable units.

6. Ideal Property Group
Located along Jalan Fettes, surrounded by Iconic Skies, Gardens Ville and Imperial Residence. This development will offer a mix of landed and residential properties, with 2 level of shop offices located below the residential tower.

Picture for illustration only

Encorp Bhd is selling 2.33ha of freehold land in Bandar Batu Ferringi, Penang to Crescent Consortium Sdn Bhd for RM25 million, Bernama reported yesterday.

In a filing to Bursa Malaysia yesterday, the company said the disposal will enable Encorp to unlock its capital from being tied up as long-term assets, Bernama reported.

The disposal consideration of RM25 million would be used to repay bank loans of RM15 million, disposal expenses of up to RM850,000 and RM9.15 million for general working capital and investments.

Encorp expects the disposal to be concluded by the first quarter of next year.

Looks like this is the land which was initially planned for a Mediterranean-inspired village concept development – Enclave Seaview Residences.

Crescent Consortium Sdn. Bhd. is a unit under Selangor Dredging Bhd (SDB).

Other development by Selangor Dredging Bhd. in Penang – By The Sea

Source: TheEdgeProperty.com.my

Location:

An upcoming mixed development by GTM Noble Sdn. Bhd. at Balik Pulau, Penang. It is located along Kuala Jalan Baru, adjacent to Prestige III housing scheme by PLB Land. About 10 minutes driving distance to Balik Pulau town centre and Prince of Wales Island International School.

This development will see the demolition of 30 existing houses for the construction of:

Phase 1

• 16-storey LC (61 units) and LMC (124 units) apartment

Phase 2

• 2-storey shop offices (5 units)
• Gated & guarded 2-storey terrace houses (67 units)

Phase 3

• 16-storey affordable condominium (850 sqft, 156 units)

Phase 4

• 12-storey affordable condominium (850 sqft, 288 units)

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

Property Project: (Pending)
Location : Balik Pulau, Penang
Property Type : Mixed development
Total Units: (see above)
Land Tenure : Freehold
Indicative Price : (To be confirmed)
Developer : GTM Noble Sdn. Bhd.

Location Map:

The federal government is studying the possibility to allow first-time home buyers to withdraw more money from their Employees Provident Fund (EPF) account to finance their affordable house purchases.

“That is a very good suggestion,” described Minister of Finance II Datuk Johari Abdul Ghani, as it could allow EPF members to tap onto their savings for their first home.

“We are in discussion with EPF in regards to the suggestion,” he said, but no decision has been made yet.

“We wanted to help first time home buyer to bridge the gap between loan and the house prices,” Johari told pressmen after officiating the Malaysian Economy Today — The Challenges, vulnerability and resilience; and the remedial measures here today.

Having said that, he added the move should only be limited to first time buyers and those are buying affordable homes.

“Further, should the house buyer sell the house later, (certain part of)the proceeds have to be returned to their EPF account (based on the extra quantum they withdrew),” he added.

Currently, house buyers could withdraw up to 30% from their Account 2 in the EPF to finance the house purchase.

On the upcoming Budget 2017, Johari said the government will focus in cutting down duplicate expenses among the ministries to reduce operating expenses.

Without specifying the saving quantum, Johari acknowledged there were duplicate spending among ministries in the areas of entrepreneur development and research and development.

Noting operating expenses make up the biggest chunk of the country’s spending category, he said certain fixed expenses such as civil servants’ emolument and pension could not be slashed.

“In fact, the expenses will grow each year. Hence, we need to improve it by boosting their productivity,” he said.

While brushing off the Budget as election budget, Johari stressed that the government will focus more on people centric-programmes such as the building of school and hospital.

“We will make sure we gave proper allocation (for the programme) at the upcoming budget,” he pointed out.

He reiterated that the government will go ahead with mega infrastructure projects that could bring multiplier effect to the country economy as well as people well-being.

Source: TheEdgeProperty.com.my

Hijauan Valdor is a residential development by Asas Dunia in Sungai Bakap. It is strategically located along federal road, about 10 minutes drive to Penang Second Bridge. It is only a mere minutes drive to Batu Kawan via Jalan Perindustrian Valdor.

The 4th phase of this project comprises 2-storey semi-detached houses with 4 different design types. Indicative price starts from RM620,000 onwards.

• Type 1: Alberta – 24 units
• Type 2: Ebony – 30 units
• Type 3: Maple – 30 units
• Type 4: Sycamore – 28 units
• Type 5: Scarlet – 6 units

Initial Phases: Hijauan Valdor

Property Project : Hijauan Valdor
Location : Sungai Bakap, Penang
Property Type : 2-Storey Semi-detached
Tenure : Freehold
Total Units : 118 (Phase 4)
Indicative Price: RM 620,000 onwards
Developer : Asas Dunia Berhad

Location Map: