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Demand for luxury residential properties expected to turn cautious

PETALING JAYA: Demand for luxury residential properties is expected to turn cautious, given greater economic uncertainties and a tightening of credit by banks, DTZ Research said in its latest Property Times market report. In the report for Kuala Lumpur for the third quarter, the research house said there would be ... Read More

Concession rights now worth RM5bil, says Chow

GEORGE TOWN: The concession rights obtained by the developer of the RM300mil Tun Dr Lim Chong Eu Expressway are now worth RM5bil, said Penang Local Government and Traffic Management Committee chairman Chow Kon Yeow.“Former Chief Minister Tan Sri Dr Koh Tsu Koon’s outburst had not been able to dispel that ... Read More

SDB in Penang debut with By The Sea

Selangor Dredging Bhd (SDB) will be making its debut on Penang shores, literally, with a breezy project known as By The Sea.The foray into the island’s famed Batu Ferringhi beach comes just several months after the launch of its fourth project in Singapore.The Kuala Lumpur-based developer has completed several projects ... Read More

Concept and size set SDB apart from other sea-fronting developers

What is it about the sea that attracts both developers and homebuyers? Along the Penang coastal road from Gurney Drive to Batu Ferringhi, condominiums, apartments and landed housing compete for buyers and tenants.Landed units and villas sit snugly on hill slopes fronting narrow roads on one side while multi-storey high-rise ... Read More

Rep: Review quota for low-cost housing

AN assemblyman has asked the state government to review its existing requirements for developers to build low-cost or low medium-cost houses, to compel them to build more of such units. Jason Ong Khan Lee (PKR-Kebun Bunga) said the current requirement was that developers build 30% of low or low-medium cost ... Read More

Promoting Malaysian property at the world stage

There seems to be a lack of awareness among foreign investors about the property market in Malaysia, laments Kumar Tharmalingam, chief executive officer of Malaysia Property Incorporated (MPI). And to remedy such a situation, a Malaysian delegation of distinguished property developers and non-profit government entities will participate in MIPIM Asia ... Read More

Better facilities at airport

A MULTI-STOREY car park and a hotel block will soon be built within the Penang International Airport ground, said state Public Works, Utilities and Transportation Committee chairman Lim Hock Seng. “The car park, which will have 1,218 lots, and the hotel will be tendered to interested concessionaires via open tender ... Read More

Budget 2012 boost to property and construction sectors

Abdul Rahim Rahman expects Budget 2012 to boost the property and construction sectors.THE RM232.8bil budget tabled by Prime Minister Datuk Seri Najib Tun Razak on Oct 7 was formulated with the theme National Transformation Policy: Welfare for the rakyat; well-being of the nation”.It aims to implement development plans such as ... Read More

Plenitude to boost size of landbank

Property developer, Plenitude Bhd, is on the lookout for more land in Malaysia as well as other countries within the Asean region to boost its landbank size, Executive Chairman Elsie Chua said.Currently, the company has about 720 hectares (1,800 acres) of undeveloped land in Penang, Kedah, the Klang Valley and ... Read More

Guan Eng: Penang provides low-cost homes through PDC

GEORGE TOWN: Chief Minister Lim Guan Eng has admitted that the state government has not been building affordable homes. However, he said the state had provided low-cost houses through itsPenang Development Corporation (PDC). “Almost 11,000 low-cost homes had been built by the state government,” he pointed out. “Some 3,000 were built through ... Read More