The Government has endorsed home-sharing service Airbnb, saying it is legal as long as there is no foul play.

The Urban Wellbeing, Housing and Local Government Ministry said this in response to claims from the hotel industry that such services were illegal as homeowners were renting out properties to tourists for business.

“Due to the nature of travellers drawn to cheap prices and the personal agreement made between the host and the traveller, Airbnb is considered legal.

“This is as long as no foul play or fraud is involved or intended, such as in cases of Internet scams,” the ministry’s policy and inspectorate division told Sunday Star.

While there have been complaints from hotels on the emergence of home-sharing platforms, such issues have been discussed by various government agencies including the ministry, Tourism and Culture Ministry, the Malaysia Productivity Corp­oration and police.

For now, both ministries have no plans to draft any new law on the matter. There are also currently no plans to issue any licences, like those granted to hotels, for Airbnb hosts.

“The Urban Wellbeing, Housing and Local Government Ministry has no authority to block Airbnb or to allow it to operate “The transaction and agreement made between the host and the traveller is done online,” said the ministry.

On disturbances caused by Airbnb guests to other residents in the property, the ministry said such matters should be settled between the Airbnb host and the neighbours involved.

“However, if foul play is suspected, neighbours should lodge a report with the relevant authorities including the police, Domestic Trade, Cooperatives and Consu­merism Ministry, Malaysian Comm­unications and Multimedia Comm­ission and Department of Islamic Affairs,” it said.

It was reported that the local hotel industry claimed home-sharing services like Airbnb were eating into their business with some estimating about 5% to 15% of their business being diverted.

Hoteliers also alleged that consumers were not fully protected under such arrangements.

Source: TheStar.com.my

A newly 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:

BLOCK A

• Tower A1 – 426 affordable units
• Tower A2 – 426 affordable units
• 12-level car park

BLOCK B

• Tower B – 538 affordable units
• 6-level car park

This project is still pending for approval. 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 : (to be confirmed)
Location : Sungai Ara, Penang
Property Type : Affordable Housing
Built-up Area: (to be confirmed)
Total Units: 1,390
Indicative Price: (to be confirmed)
Developer: Diamaward (M) Sdn. Bhd. (Hunza Group)

Location Map:

The commencement of land reclamation works for the RM10 billion Penang WorldCity project in Bayan Mutiara is expected to begin only in the middle of next year.

The project is undertaken by Tropicana Ivory Sdn Bhd, a 55:45 joint venture between Tropicana Corp Bhd and Ivory Properties Group Bhd. Tropicana Ivory, according to a news report last year, had hoped to begin the reclamation works in the second quarter of 2016.

Ivory Properties chief operating officer Goh Chin Heng, however, said today there is a delay due to some technical issues, which have now been more or less settled.

“We are now waiting for approval from the state authorities, and we hope to get all the approvals in a matter of three to six months’ time,” said Goh.

“We will then proceed with another round of tenders to appoint the reclamation contractors. We will invite both local and foreign contractors for this.

“We estimate to kick off the reclamation works by mid-next year,” he told reporters after Ivory Properties’ annual general meeting.

The total size of the land area for the project is 126 acres, of which 65 acres is existing land and the remaining balance of 61 acres is to be reclaimed.

“We expect to start reclaiming 20 to 30 acres of land first. The whole reclamation process is expected to take three to five years to complete.

“The estimated cost for the reclamation [of the 61 acres of land] is about RM200 million, but this may vary from time to time” said Goh.

This would mark the first land reclamation exercise for the Penang-based property developer.

As for its existing 65 acres of land, the group has earmarked projects with a gross development value (GDV) of RM5 billion to RM6 billion within the next five years.

So far the group has utilised about 20% of its existing land for Phase 1 of Penang WorldCity’s development comprising luxury residential condominium towers, Tropicana Bay Residences, which has a recorded GDV of RM933 million.

“So far the take up rate since the launch of Tropicana Bay three years ago is around 90%,” said Goh.

The group also intends to complete its RM321 million The City Residence project in Tanjung Tokong by the end of the year.

As for its Penang Times Square project, the group intends to complete phase three (comprising residential suites The Wave) and phase four (comprising The Central Hotel) by 2020.

Both phases have a combined total GDV of RM970 million.

On the group’s upcoming projects, Goh said the next focus is a proposed mixed development project on a six-acre land in the tourist belt of Batu Feringghi, which will kick off in mid-2017 with a GDV of about RM300 million.

Ivory Properties will also be making its mark out of Penang through a joint-venture project in Kuala Lumpur.

The group had in June penned an agreement with LLK Properties Sdn Bhd to develop the project, which will be a mixed development on approximately 1.8 acres of land located close to the Sungai Besi area with an estimated GDV of RM220 million.

“We are still finalising the pricing for the KL project. It will not be on the higher end but neither would it be affordable homes. But the pricing would be what’s affordable for the KL market,” said Goh.

According to the group’s filing to Bursa Malaysia on June 17, LLK will be entitled to 27% of the fixed value, i.e. the total value of all units of the development.

Source: TheEdgeProperty.com.my

We bring you an exclusive video on the tallest building in Penang – KOMTAR

Some of you may not be aware that KOMTAR has grown taller by 3 levels! The recently refurbished tower now sports new floors with a large viewing deck, glasshouse structures encircled by trees and most striking of all, the rainbow color bands ending in a symbolic pot of gold.

The viewing deck at 68th floor is one of the upcoming attractions at KOMTAR called ‘Rainbow Skywalk’ – Breathe in the fresh air and enjoy the island’s breeze from The Top. The Open Deck will leave you amazed with a spectacular view and experience without windows. Be amongst the clouds and the rainbows!

Despite the slow property market, OSK Property Holdings Bhd believes there is still demand for properties targeted at end users. And the homebuyer market is what is it aiming at with Luminari, a serviced apartment project launched recently at its Harbour Place township in Butterworth, Penang.

CEO Ong Ghee Bin says the township is located near the Butterworth ferry terminal and a stone’s throw from the upcoming Penang Sentral, an integrated transport hub that will feature commercial and retail facilities, cinemas, multi-storey car parks and a hotel. The hub will be directly linked to the electric train service, bus terminal and ferry terminal.

The accessibility of the township — which also links to the Butterworth Outer Ring Road and Jalan Bagan Luar — has sparked demand for serviced apartments there among potential buyer-occupiers.

“Many people don’t mind staying in Butterworth because it is so much cheaper than [staying] on the island yet you can go to work there using the ferry,” Ong tells City & Country. “Luminari caters to families and we have incorporated 77,000 sq ft of communal space to put in facilities for people of all ages.”

Launched in end-July, the project offers 462 serviced apartments and seven retail units on a 3.5-acre parcel. Scheduled for completion in 2020, it has a gross development value of RM264 million.

“The retail units face outside to allow non-residents to patronise the shops without going into the development,” Ong says.

The serviced apartments come in four types with built-ups from 947 to 1,335 sq ft, in 2+1 or 3-bedroom configurations. The selling price ranges from RM486,800 to RM708,800, or an average of RM530 psf. About 20% of the units have been taken up.

The retail units, meanwhile, measure 517 to 1,141 sq ft and are priced from RM293,000 to RM561,800 or RM526 psf. All have been taken up.

The 77,000 sq ft communal space will feature 32 facilities grouped into six zones: The Oasis, The Promenade, The Playpen, The Centrestage, The Enclave and The Sanctuary.

The Oasis will have a 50-metre lap pool, wading pool, cabana deck, a Jacuzzi, sunken seats and sun deck, while The Promenade will boast a sculpture garden and pavilion square. Facilities at The Playpen include a playground, tree house and swing shelter.

The Centrestage, meanwhile, offers areas for sports activities such as a gymnasium, putting green, badminton courts and aqua gym. The Enclave features a barbecue area, karaoke lounge and multifunction room, while The Sanctuary will have a sky lounge, reading room and hammock garden.

Nearby amenities include hypermarkets (Econsave and Giant), educational institutions (SK Convent Butterworth), healthcare centres (Bagan Specialist Centre and Hospital Seberang Jaya) and hotels (Pearl View Hotel and Hotel Palm’s Inn).

Harbour Place is a 27-acre mixed-use township launched 15 years ago by OSK Property subsidiary PJD Eastern Land Sdn Bhd. Four phases have since been completed and handed over and the fifth phase, Woodsbury Suites, will be handed over early next year.

Woodsbury Suites comprises 420 serviced apartments in two blocks, with built-ups ranging from 550 to 2,270 sq ft in studio, 1+1, and 1, 2 and 3-bedroom configurations. The 40-storey Tower A is the tallest building in Butterworth while Tower B has 38 levels. Ong says only a few bumiputera units remain.

Luminari is the sixth phase in the township, with four more to go and Ong says future developments there will be depend on market needs.

OSK Holding Bhd last year restructured its businesses under property, construction, hospitality, manufacturing and financial services and timeshare. OSK Property and PJ Development Holdings Bhd were merged into one entity with a single identity and brand, called OSK Property. Ong was appointed last July to oversee the property arm.

On the current property market, Ong says the market is soft and will remain so for the next 12 months. “I don’t think we will turn around so fast and it will probably will take some time for the market to come back. In order to sell, new projects now should focus on owner-occupiers.”

Luminari will be OSK Property’s final launch this year. It had earlier launched Phase 2 of Windmill Upon Hills in Genting Highlands and TimurBay Seafront Residence in Balok Beach near Kuantan.

“This year, we put to the market Phase 2 of Windmill Upon Hills, TimurBay Seafront Residence and some small phases in Sungai Petani,” Ong says. “For Windmill Upon Hills, we are now seeing overall converted sales of about 60%, and sales are still coming in. We expect the number to touch 70% by year end. Timurbay Seafront Residence was launched at almost the same time as Luminari and is now about 25% taken up.”

OSK Property is now working to get approvals for a development in Seremban that will offer properties in the affordable range and is targeting to launch it by the first quarter next year.

Source: TheEdgeProperty.com.my