The federal government’s 1Malaysia People’s Housing Scheme (PR1MA) in Penang may see projects by other developers being taken over, Penang Federal Action Council chairman Datuk Seri Zainal Abidin Osman said yesterday. He said PR1MA was looking at projects that had run out of funds, and even completed projects, so as ... Read More

Hunza Properties Bhd is buying 9.7 acres of freehold land in Penang for RM57.02mil to develop affordable houses for qualified buyers. In a filing with the local stock exchange yesterday, Hunza said its wholly-owned unit, Diamaward (M) Sdn Bhd, had signed a sale and purchase deal with property developer WLB ... Read More

The RM350mil Subterranean Penang International Convention and Exhibition Centre (SPICE) project in Bayan Baru is 80% done and should be completed by the end of next year. Among the components already up are the SPICE Aquatic Club (RM16mil), SPICE Canopy comprising F&B retail outlets (RM28mil) and the upgrading of the ... Read More

The Retreat & The Reserve, a strata development scheme by Techware Enterprise Sdn. Bhd. at Bukit Tengah. It is strategically located along Jalan Indah, just a mere minutes drive away from Maju Jaya Business Center. This development comprises a mix of 27-storey condominium and 10 units 3-storey terrace houses. Indicative ... Read More

By National House Buyers Association In our article last month, we highlighted the report by Khazanah Research Institute on ‘Making Housing Affordable’, which showed that the Malaysian all-house price index grew steadily at a compounded annual growth rate (CAGR) of 3.1% from 2000 to 2009, and suddenly accelerated at a ... Read More

From its beginnings in plywood production and manufacturing, Penang developer Asia Green Group has become a diversified business entity with a fast-growing property development business. The group will launch its upcoming QuayWest Residence, a mixed-use development project with a gross development value of RM600 million, early next year. Located just ... Read More

In an effort to improve the accessibility while stimulating the affordable housing development in Penang, the state government has introduced several new measures to ease the current market situation. Increase in household income ceiling With the hope that more applicants will be able to obtain bank loans, the household income ... Read More

With three major shopping malls being planned for Seberang Prai, the mainland will soon rival the island as a shopping paradise. The three malls are The Design Village (net lettable area (NLA) 400,000 sq ft), Ikea and Ikano Power Centre, and unnamed mall project by Belleview Goup (1.5 million sq ... Read More

Taman Rupawan Emas, a residential development by TAA Housing Development Sdn. Bhd. at Kepala Batas. It's about 5 minutes drive to Sunshine Shopping Mall and the upcoming Tesco in Bertam. This development comprises of a mix of 2-storey semi-detached bungalow houses, with indicative price starting from RM584,000 onward. Project Name: Taman ... Read More

Mah Sing Group Bhd is proposing to the Government to bring back the developer interest bearing scheme (DIBS) for first-time home buyers. The developer is also suggesting a review of the real property gains tax (RPGT) as among several measures to boost the sector. “The property industry has a larger ... Read More