The widely debated Vacancy Tax on unsold high-end properties will likely not be imposed next year as it is still being reviewed by the Housing and Local Government Ministry (KPKT). Minister Zuraida Kamaruddin said the proposed tax, which has been presented to the Economic Council meeting for discussion, is not an ... Read More

The Monetary Policy Committee (MPC) of Bank Negara Malaysia (BNM) has decided to maintain the Overnight Policy Rate (OPR) at 1.75 per cent, the lowest level since it was implemented in 2004. In a statement, it said the global economy continues to improve, with the easing of containment measures across more economies ... Read More

Penang has spent more than RM256mil on maintenance projects involving public housing, local government housing and eligible private housing schemes since 2008. State housing committee chairman Jagdeep Singh Deo said the amount includes public housing maintenance scheme (RM195mil), state’s Housing Maintenance Maximum 80% Fund (TPM80PP) (RM35mil) and also the maintenance schemes ... Read More

Property developer Paramount Corporation Bhd (PCB) remained bullish on the prospects for the second half of the year despite a rocky first half due to the Covid-19 pandemic and the Movement Control Order (MCO). “In a nutshell, for the first six months of the year, it’s a washout. But the ... Read More

About QuayWest Residence Luxury residential development located next to Penang World City in Bayan Mutiara, Penang. This development comprises 1,235 condominium units in two 24-storey towers. Tower A offers 669 units with built-ups from 1,246 to 3,222 sq ft. Tower B comprises 566 units of various types, 253 units of which ... Read More

With the lifting of CMCO in early June, Google Search Trends report indicated that the search interest for property in Penang has rebounded to the pre-crisis level. Our website has recorded close to 1 million pageviews in the past 90 days (after CMCO), showing an increase of 3% traffic compared ... Read More

This year’s Pesta Pulau Pinang has been cancelled due to the COVID-19 pandemic. Penang state financial officer Datuk Sarul Bahiyah Abu said the state executive council meeting had come to this decision on Aug 12. “Based on COVID-19 current developments in Penang, the state executive council has decided that this year’s edition of ... Read More

An upcoming commercial development by Prospek Setia Sdn. Bhd. at Bukit Tengah. It is a small development strategically located along the busy road of Jalan Kebun Nenas, next to Juru Sentral development. Just a stone's throw away from Juru Auto-City. This development will see the construction of a commercial building, ... Read More

The first Courtyard by Marriott in Malaysia, and also the 17th Marriott International brand in the country, has opened its door to the public. The hotel is located at Tropicana 218 Macalister in Penang’s UNESCO World Heritage Site. In a press statement today, the developer of the hotel - Tropicana ... Read More

The works on the Penang South Reclamation (PSR) project are expected to begin first quarter of next year. Penang Infrastructure Corporation Sdn Bhd (PICSB) chief executive officer Datuk Seri Farizan Darus said the implementation works of Island A would be the first to start. “The scheduled reclamation works will be ... Read More