Penang will blacklist any developers found in cahoots with “gangster contractors” who intimidate home buyers into engaging them for renovations.

The state government said it has arranged to meet with the Penang police chief to crack down on the group allegedly intimidating and threatening new home buyers into engaging their services, especially in high rise projects.

“We will not tolerate this. If we find any developer involved in designating these gangster contractors to intimidate and threaten home buyers into booking their renovation services at their projects, we will not hesitate to blacklist the developer,” said Penang Housing state executive councillor Jagdeep Singh Deo.

He told a press conference that he had recently received complaints from home buyers who alleged they were threatened for not engaging the project’s designated contractor to undertake renovation works on their newly completed apartment units.

“They now fear for their safety as they had been threatened,” he said.

This is not the first time such incidents took place, and Jagdeep admitted that it has been going on for years in other residential high rise projects in the state.

Such cases involve “designated” contractors who set up temporary stations at newly completed apartments and allegedly coerce home buyers planning to renovate their units to use their services.

Home buyers who appoint their own contractors will be forced to either pay a “fee” or to buy renovation supplies such as cement and tiles from them.

“I have said this before, there is nothing in the law that requires home buyers to up take up renovation packages if they don’t want to and this most definitely is not in any sales and purchase agreement,” Jagdeep said.

He called on all home buyers who faced similar issues at their apartments to lodge police reports against the errant contractors.

“This is criminal intimidation and harassment. The police can take action against them,” he said.

He said the state will urge the police to act harshly against these contractors while the state will check to ensure the developers are not in cahoots with these contractors.

Source: The Malay Mail Online

The Central, the phase 4 development of Penang Times Square, is a new masterpiece that epitomizes city living on a grand scale. Set to become a new landmark in George Town with its iconic giant red frame establishing a bold identity. Standing at 500 ft high, it comes highest state-of-the-art rooftop facilities and a restaurant with 360° view of George Town and its UNESCO World Heritage Site.

Property Project : The Central @ Penang Times Square
Location : Penang Times Square, Georgetown, Penang
Property Type : Commercial Suite/SOHO
Total Units : 654
Land Tenure: Freehold
Developer : Ivory Properties

Jernih Residence, another upcoming gated & guarded residential development project by Jayamas Property Group in Bukit Mertajam, Penang. Comprising 21 units of landed properties, with modern and stylish exterior. It comes with 24-hrs security & CCTV, landscaped garden, BBQ area, management room and children playground.

Sitting on higher ground at 15 meter above sea level, it is only a short drive to BM Maju Junction commercial center (Kg Baru), wet market, Jit Sin High School , and hypermarkets.

If you prefer non-gated, you may take a look at Jernih Residence 2.

Property Project : Jernih Residence
Location : Bukit Mertajam, Penang
Property Type : 2-storey bungalow, villa, semi-detached & terrace
Total Units : 2 (bungalow), 4 (villa),  15 (terrace)
Land Tenure: Freehold
Indicative Price: RM 558,000 onwards
Developer : Jayamas Property

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From left: Paramount Corp group CEO Datuk Teo Chiang Quan shakes hands with Penang Development Corp GM Datuk Rosli bin Jaafar, as Penang Chief Minister Lim Guan Eng and deputy GM of PDC Iskandar Basha bin Abdul Kadir look on.

Paramount Corp Bhd has purchased 30 acres of freehold land in Batu Kawan, Penang for RM67mil from Penang Development Corp (PDC) to build a university college and mixed development project

The land for the future KDU College Penang was priced at RM40.50 per sq ft while the land for the proposed mixed development was priced at RM55 per sq ft. It is located 5 minutes from the Second Penang Bridge at Bandar Cassia, a new township in Province Wellesley.

Under the agreement, Paramount will build Penang’s first university metropolis in Batu Kawan. The metropolis will be developed by Paramount Property, the property development arm of Paramount, and will be anchored by a new purpose-built campus for KDU Penang, owned by Paramount’s KDU Education Group.

The acquisition will be funded through internally generated funds and bank borrowings.

“In addition, Paramount is required to complete and commence the development of the education component within 5 years. It is also required to complete the integrated development within 10 years, both from the agreement date. It is to obtain all approvals from relevant authorities and complete the development at its own cost,” Paramount said in a statement.

Paramount told Bursa that the rationale for the deal is to increase the group’s land bank at locations with strong growth potential and to strengthen the group’s long-term sustainability by synergising the two core businesses of property development and provision of educational services.

The deal is in line with PDC’s policy to promote and sell land to attract catalyst projects in Bandar Cassia, and to provide services that will help complement the area’s industrial and housing development sectors.

Source: StarProperty.my

The Paradigm Condominium, an upcoming high rise project by Eligan Base Development in Seberang Jaya, Penang. This development comprises 96 condo units, four design type with built-up area ranging from 1,400 sq.ft. to 1,575 sq.ft.

More details to be available upon launching.

Property Project : The Paradigm Condominium
Location : Butterworth, Penang
Property Type : Condominium
Tenure : Freehold
Total Units : 96
Indicated Price: RM320 psf. onwards
Developer : Eligan Base Development

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