PETALING JAYA: The property market, especially in the Klang Valley and Penang, are showing signs of getting frothy, so much so that talks about higher tax on property gains are getting louder as Budget 2011 announcement gets nearer.Re-introduced earlier this year at the rate of 5% after a three-year hiatus, ... Read More

PETALING JAYA: High-end properties, especially condomimiums costing RM1mil and above, are still enjoying good sales backed by favourable financing, although some buyers are turning cautious in anticipation of upcoming budget measures to cool the property market.“Currently, we do not feel there is pull back on banks in financing for high-end ... Read More

BALIK PULAU: Landowners in two villages here are getting a raw deal from the Penang Government which is acquiring their land for less than half the market value, according to an Umno leader.Balik Pulau Umno Youth chief Aziaan Ariffin claimed that the state was acquiring the plots in Pondok Upeh ... Read More

GEORGE TOWN: The Penang business community is seeking measures on affordable housing and improving foreign direct investments (FDIs) as well as incentives for local and multinational companies to reinvest under Budget 2011.Real Estate Housing Developers’ Association chairman Datuk Jerry Chan said in view of the high property prices, the Government ... Read More

THOUGH Penang lacks natural resources such as oil and gas, it can depend on its human talent to move forward.Chief Minister Lim Guan Eng said the human capital would enable Penang to propel forward in this new century.“We should harness the best and the brightest of our human talent and ... Read More

MORE than 200 villagers staying in 50 houses on stilts along Jalan Tokong Batu, Jelutong in Penang have been living with rubbish underneath their houses and the foul stench for more than 20 years.Sungai Pinang assemblyman Koid Teng Guan said the topography of the village, which was located by the ... Read More

GEORGE TOWN: Two foreign property development companies – one based in Singapore and another in Hong Kong – and Eastern & Oriental Bhd (E&O) are among seven candidates shortlisted to bid for the new Penang Turf Club (PTC) development project.Most of the four remaining candidates are headquartered in Kuala Lumpur.StarBiz ... Read More

The sea-fronting Straits Quay retail marina enclave, which covers a net lettable area of 270,000 sq ft, which will be operational by the end of November. It is expected to raise the bar for the island state, as efforts are being made by its developers to place the mall on ... Read More

Sunway City (Penang) Sdn Bhd, a wholly-owned subsidiary of Sunway City Berhad (SunCity), has entered into a sale and purchase agreement with Sungei Ara Holdings Sdn Bhd to acquire 81 acres of freehold residential land held in Barat Daya, Penang at RM38.765 million. When fully developed, the proposed acquisition will ... Read More

IF numbers were to tell a story, the numbers provided by the National Property Information Centre (Napic) is very telling. Between January and March of last year, about 750 units of residential units costing slightly more than RM1mil and above exchanged hands. For the first three months of this year, ... Read More