THE RM2.1bil seafront Southbay City project in Batu Maung, Penang, is scheduled for completion in 2018. It comprises a shopping mall of 1mil sq ft and a five-star hotel that will further boost the property value of the south-west district of the island. The project has a 60% residential component ... Read More

GEORGE TOWN: SP Setia Bhd is projecting its Penang properties would generate about 15% or about RM500mil of the company's 2012 revenue, expected to be about RM4bil. SP Setia Property (North) general manager Datuk S. Rajoo said that the developer's key contributing projects in Penang included Setia V Residences, Setia Triangle, Pearl Villas and ... Read More

UDA Land (North) Sdn Bhd plans to launch a RM650mil condominium project on a leasehold site in Tanjung Tokong in the first quarter of next year in view of the strong demand for high-rise residence in prime locations and the changed perception towards leasehold properties among Penangites. UDA Land chief operating officer ... Read More

PETALING JAYA: While house buyers are seeking more affordable homes, developers do not want to be bound into building low- and medium-cost homes. In its memorandum to the Finance Ministry, Real Estate and Housing Developers Association (Rehda) said it wanted to develop affordable homes in line with the increased household ... Read More

THE Star Property Fair 2012 from July 12 to July 15 looks set to be a highly visited event with representatives from 40 property developers in-cluding major players like IJM Land Berhad and SP Setia Group attending a briefing. IJM sales and marketing assistant manager Wan Zahrah Wan Abdullah said ... Read More

GEORGE TOWN: Ivory Properties Group Bhd (IPGB) plans to launch RM1.6bil worth of properties on Penang island in the second half of 2012. IPGB executive director and chief operating officer Murly Manokharan said these projects comprised the first phase of Bayan Mutiara, which has a gross development volume (GDV) of ... Read More

GEORGE TOWN: Asas Dunia Bhd is launching 1,356 units of landed properties worth approximately RM300mil in gross development value in Seberang Prai from now until the end of 2013, due to the growing interest to invest in properties in Seberang Prai. The properties comprise largely single- and double-storey properties, priced between RM200,000 ... Read More

GEORGE TOWN: The Penang Chinese Town Hall (PCTH) has called on the Penang Government to overcome the worsening traffic congestion on the island. When addressing the town hall’s annual general meeting, its chairman Datuk Lam Wu Chong said this escalating issue was of grave concern to many Penangites. “It is ... Read More

GEORGE TOWN: The construction and renovation industry in Penang may not be able to generate RM5bil worth of jobs this year as forecast by the Penang Master Builders' and Building Materials Dealers Association (PMBBMDA). PMBBMDA president Lim Kai Seng said there had been a lower demand for construction materials from the residential ... Read More

PETALING JAYA: The Finance Ministry, concerned about soaring home prices, has sought the help of the National House Buyers Association (HBA) to find solutions to the problem. Responding to the request early this month, the HBA has proposed 10 measures to address the problem and, hopefully, bring prices down. HBA secretary-general ... Read More