Prime Minister Datuk Seri Najib Razak Thursday announced the implementation of the First Home Financing Scheme (MyDeposit) as tabled in the 2016 Budget.
He said the scheme was implemented to help the middle 40 per cent income bracket (M40) with household incomes of between RM3,000 and RM10,000.
“(This scheme involves) a contribution of 10 per cent of the sales price or a maximum of RM30,000, whichever is lower, to first-time house buyers to help them buy a house costing less than RM500,000,” he said after the National Housing Council’s (NHC) meeting here, Wednesday.
The prime minister said the applicants could make their applications to the scheme online from Thursday through the website of the National Housing Department, Ministry of Urban Wellbeing, Housing and Local Government.
Urban Wellbeing, Housing and Local Government Minister Datuk Abdul Rahman Dahlan said MyDeposit was open to all types of houses from all registered developers except Perbadanan PR1MA Malaysia.
The scheme, he said was not limited to new house purchases but also secondary house purchases.
At the same event, Najib also announced the implementation of the sale of houses costing up to RM300,000 to first-time house buyers, as announced in the 2016 Budget Recalibration, this month.
In order to encourage private developers to build houses costing below RM300,000, Najib said the ministry offered several incentives to developers, including the retention of deposit of RM200,000 from three per cent of the estimated cost at present.
For mixed development, the prime minister said the deposit was based on the remaining construction of houses priced more than RM300,000.
On the implementation of one million affordable houses by 2018, Najib said until Dec 31, 2015, a total of 183,755 units were completed, 214,011 units were under construction and 309,571 units at various stages of planning.
He also announced the construction of over 50,000 affordable houses through integrated efforts according to zones, starting with the central zone at the Malaysia Agro Exposition Park, Serdang in July 2016.
The proposed Bayan Lepas Light Rail Transit Line will covers a distance of 30km and 27 stations.
Of its 27 proposed stations, 19 are to be in Komtar, Macallum Street area, Bandar Sri Pinang, the future Sky Cab station, East Jelutong, The Light Waterfront, Gelugor, Universiti Sains Malaysia, Batu Uban, Pesta site, Sungai Nibong, Bukit Jambul, Subterranean Penang International Convention and Exhibition (SPICE), Jalan Tengah, FIZ North, FIZ South, Sungai Tiram, Penang International Airport and Permatang Damar Laut.
Eight more stations are planned for the three proposed islands to be reclaimed off the southern coast.
The Bayan Lepas LRT will also have interchange stations connecting three more future LRT and monorail lines still on the drawing table.
They are the Gelugor-Butterworth LRT across the sea, the Paya Terubong-Komtar monorail and the Tanjung Tokong-Komtar monorail.
The route will also be integrated with public transport services in Sungai Nibong Bus Terminal and Penang International Airport.
Motorist will be able to use the four-lane Bayan Lepas Expressway (BLE) in Penang from 2pm today.
The elevated 3.2km-long dual carriage structure of the BLE connects motorists coming from Batu Maung to Sungai Nibong (Queensbay).
In a press statement yesterday, the Public Works Department and UEM Builders Berhad advised road users to observe all the traffic signs and adhere to the speed limit of 70km/h when using the expressway.
The BLE is the longest elevated expressway in the state.
Construction of the expressway began on April 1, 2014, with UEM Builders Berhad as the main contractor.
The entire expressway is equipped with LED street lighting, drains, a bicycle lane, bicycle bridge and road dividers.
An upcoming mixed residential development by DNP Land at Machang Bubok. It is located along Jalan Machang Bubok, less than 6km away from AEON Mall in Alam.
This development will offers a mixed of gated & guarded landed and a 11-storey medium cost apartment:
Phase 2 (High-rise): 11-storey medium cost apartment (60 units)
This project is still pending for approval. Details to be available upon project launch.
Project Name : (to be confirmed)
Location : Machang Bubok, Bukit Mertajam Property Type : Residential Built-up Area: (to be confirmed) Total Units: 84 (terrace), 60 (aparment) Developer :DNP Land
Penang, affectionately known as the Pearl of the Orient is a famed tourist destination blessed with long stretches of sandy beaches and lush hills of tropical rainforests. This natural haven is also rich in history and culture with its capital, George Town recognised as a UNESCO World Heritage Site and its hawker fare renowned the world over.
Driven by a thriving economy supported by a progressive manufacturing and tourism industry, Penang continues to attract accolades as this unique turtle-shaped island is consistently being listed as one of the top retirement cities in the world by many of the world’s leading magazines and websites.
One of the most distinctive residential address in Penang is Seri Tanjung Pinang, a seafronting masterplanned development at the northeast tip of the island. Standing majestically within one of the most prime lots at Seri Tanjung Pinang is 18 East at Andaman, the crème de la crème of resort homes with the finest of facilities and amenities.
Upscale communities and neighbouring townships
Straits Quay, the very first seafront retail marina in Penang is sited next to 18 East, aptly enhancing the experience of living by the sea with its array of dining and retail outlets topped with a panoramic seafront promenade and marina.
Just a short drive from 18 East, you will find Batu Ferringhi, the famous tourist belt famed for its sandy and beautiful beaches.
Gurney Drive, the world-famous hawker paradise is just a short drive from Seri Tanjung Pinang. This plus the host of leading 5-star hotels in the vicinity will leave you spoilt for choice when it comes to dining and entertainment for you and your guests.
Prominent Malls and Eateries
For your daily needs, all it takes is a few minutes’ walk to the Tesco hypermarket in Seri Tanjung Pinang.
If you seek more shopping options, there are a variety of malls like Island Plaza, Gurney Plaza and Gurney Paragon and the upcoming City Mall Outlets that offer simple to luxury brands, all just a few minutes’ drive away.
When it comes to food, the area is dotted with an array of restaurants offering a tantalising variety of seafood, Asian, Western and Mediterranean options.
Should you opt for public education, the reputable Penang Chinese Girls School (Peng Hwa) and Phoy Tay High School are less than ten minutes’ drive away with many more schools and education institutions nearby.
Resort Home Like No Other
At the end of the day, come home to 18 East, a home and a resort all in one. Head straight to the sprawling 4.5 acre residents’ private water park — that’s equal to four football fields — for some much-needed R&R. Or if you prefer a leisurely stroll, the 6.9 acres of greens within 18 East will be perfect for this. Venture beyond the boundaries of the development and you will find a seafronting promenade stretching from 18 East past Straits Quay and on to the southern part of Seri Tanjung Pinang.
18 East also boasts a world-class 14,000 sqft grand clubhouse complete with private 50-seat Gold Class theatrette, perfect for entertaining guests to a movie marathon. The clubhouse also offers a lounge, function space, outdoor dining terrace, and a fully-functional kitchen, ideal for hosting friends in an amiable and cosy dining space.
After all that activity, you will look forward to returning to one of 18 East’s generously-sized units which come in one bedroom (877-1,123 sqft), two bedroom (2,036-2,057 sqft), and three bedroom (2,770–2,824 sqft) configurations, all with meticulous attention to efficient use of space.
To further differentiate 18 East at Andaman, an enhanced set of fittings and quality finishes with top range appliances such as a wine chiller and dish washer are included. All apartments come with fully-fitted kitchen cabinets complete with hob, hood, oven, microwave and integrated fridge with granite kitchen counter top. Air-conditioning units are included, and, in a nice touch befitting seaside resort living, ceiling fans are also provided. In the larger apartments, the bathroom features dual sinks, a signature design feature offered by the developer.
This, is the unique and distinctive lifestyle offered to you by Malaysia’s premier developer, E&O. Those who know, insist on E&O.
Prime Minister Datuk Seri Najib Razak Thursday announced the implementation of the First Home Financing Scheme (MyDeposit) as tabled in the 2016 Budget.
