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Government likely to reintroduce HOC
The government is expected to bring back the Home Ownership Campaign (HOC) as part of the country’s economic recovery plan in the second half of the year. The proposal to reintroduce the HOC was made...
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Penang airport expansion likely delayed by a year
Chief Minister Chow Kon Yeow says the planned expansion of the Penang International Airport (PIA) might be delayed by six months to a year due to the Covid-19 outbreak and faltering airline industry....
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SITE PROGRESS: Queens Residences (May 2020)
About Queens Residences Luxury waterfront development by Ideal Property Group at Bayan Bay with gross development value (GDV) of RM600mil. This development is located in front of BayStar...
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UPCOMING: Prai / Concrete Idea Sdn. Bhd.
A small landed housing development proposed by Concrete Idea Sdn. Bhd. (a subsidiary of Tawakar Group) at Taman Pauh Jaya in Bukit Tengah. It is strategically located near Jalan Baru, just a stone’s...
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Value of residential overhang down in Q1
The value of completed and unsold properties from all segments dropped 5.3% year-on-year to RM18.91bil in the first quarter of 2020, despite more units being launched during the period, according to...
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Federal Govt cancels RM100mil Penang Hill cable car project
The Federal Government has withdrawn its RM100 million allocation for the development of a cable car system on Penang Hill. Chief Minister Chow Kon Yeow expressed his disappointment over the Federal...
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SITE PROGRESS: Residensi Permatang Pauh (Jun 2020)
About Residensi Permatang Pauh Affordable housing undertaken by Excel Focus Properties Sdn. Bhd. It is strategically located within the established township of Permatang Pauh, only about 500 meters...
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UPCOMING: Butterworth / Uniflex Synergy Sdn. Bhd.
A proposed strata development by Uniflex Synergy Sdn. Bhd. at Butterworth. It is strategically located along Jalan Kampung Gajah, just a stone’s throw away from Nautical Bay by OHM Group. This...
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Penang to reveal home ownership package next week
The Penang government is set to announce a housing ownership package next week to ease home ownership in the state. State Local Government, Housing, Town and Country Planning Committee chairman...
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Economic Recovery Plan for Property Sector
To stimulate the property market and provide financial relief to home buyers, here are the incentives announced by Prime Minister today: 1. Home Ownership Campaign (HOC) to be reintroduced: Stamp duty...
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Property buying activities to increase with PENJANA incentives
The National Economic Recovery Plan (PENJANA) incentives announced on Friday are expected to heighten property buying activities in the next few months. ExaStrata Solutions Sdn Bhd’s chief real estate...
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UPCOMING: Bukit Mertajam / Welcome Development Sdn. Bhd.
A newly proposed residential development by Welcome Development Sdn. Bhd. at Bukit Mertajam. Strategically located at the intersection of Jalan Song Ban Kheng and Jalan Kota Permai, diagonally...
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SITE PROGRESS: The Zen (Jun 2020)
About The Zen A mixed development by Asia Green at Bayan Mutiara. It is located next to Tun Dr. Lim Chong Eu Expressway, just a short drive away from the ongoing Penang World City township...
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Penang property sales lower in second quarter
The number and value of residential property transactions in Penang are projected to decline between 50% and 60% in the second quarter of 2020 from the preceding first quarter. “We project a 50%-60%...
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Property sector big beneficiary of Penjana
Incentives introduced under the fourth Covid-19 stimulus package, dubbed Penjana, will help boost investor sentiment towards the property sector. Nevertheless, analysts in general remain largely...
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SITE PROGRESS: Imperial Grande (Jun 2020)
About Imperial Grande A mixed development by Modular Platinum Sdn. Bhd. (Ideal Property Group) in Sungai Ara, Penang. It is located along Jalan Fettes, surrounded by Iconic Skies, Gardens Ville and...
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10% discount for affordable homes in Penang
Penang government has announced a 10 percent discount for all types of affordable housing in the state for a period of one year starting from today. State Local Government, Housing, Town and Country...
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Ceiling price reduced for foreign home buyers
Penang has reduced its minimum price threshold for foreign property ownership by up to 40% to clear RM2.6bil worth of overhang units in the state. Penang local government, housing, town and country...
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UPCOMING: Kubang Semang / Adroit Consulting Engineers
A proposed affordable landed housing development at Guar Perahu in Kubang Semang. Located on a 41.85-acres land along Jalan Guar Perahu 1, next to Taman Guar Perahu and SMK Guar Perahu. It is only...
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Holiday Inn Resort to close down by end of this month
The list of hotel closures in Penang continues to increase with the latest casualty being the iconic Holiday Inn Resort. Hong Kong-based Harilela Group – via Asia Garden Sdn Bhd – announced that it...
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