Bank Negara Malaysia (BNM) decided to cut the Overnight Policy Rate (OPR) by 25 basis points to 3% from 3.25% at its Monetary Policy Committee (MPC) today amid weak economic outlook. This is the first cut since July 2016. “The ceiling and floor rates of the corridor for the OPR ... Read More

The federal government may enlarge the Penang International Airport (PIA) to accommodate a maximum of 20 million passengers instead of the initial 12 million proposed. Finance Minister Lim Guan Eng said the original proposal was to increase the capacity from 6.5 million to 12 million passengers, but added that this ... Read More

A newly proposed residential development by Focal Products Sdn. Bhd. at Air Itam, Penang. Located at the intersection of Jalan Teochew Satu and Jalan Thean Teik, next to Hui Aun Apartment. It is only 1km away from Sunshine Farlim. The proposed development consists of two 30-storey residential blocks, offering 601 condominium units with 6-level ... Read More

The proposed Penang undersea tunnel project will continue and is in its final stage of feasibility study, says Chief Minister Chow Kon Yeow. He said the state government's technical consultant, HSSI Sdn Bhd, has reviewed the study prepared by Consortium Zenith Construction Sdn Bhd (CZC). “The review on the draft ... Read More

The controversial Penang Transport Master Plan (PTMP) and Penang South Reclamation (PSR) project were included as part of the draft Penang Structure Plan 2030 (PSP2030) which is now in the process of being gazetted, the state legislative assembly was told today. State exco Jagdeep Singh Deo (DAP - Datuk Keramat) ... Read More

It’s been a while since we last posted the most active projects. Many people have been asking how is the property market sentiment in Penang with all the negativity around the residential overhang situation. According to our web traffic analytics, PenangPropertyTalk.com has recorded an increase of approximately 15% in pageviews ... Read More

The future of the 1Malaysia People’s Housing (PR1MA) depends on the outcome of its due diligence and turnaround plan, said chairman Tan Sri Eddy Chen. "We are working on a turnaround plan. Whether PR1MA will move forward or not, much depends on this turnaround plan," he told press at an ... Read More

How other cities worldwide tackle their Airbnb problems are being studied to see if the home-sharing business could be legalised or regulated in Penang. The office of the Penang State Exco for Tourism Development, Arts, Culture and Heritage (Petach) is studying their policies to tackle the issue of residential home ... Read More

Part of the highway under the Pan Island Link 1 (PIL 1) project that would pass through the City Park in George Town, Penang, will be in the form of a 250m-long cable stay bridge. Chief Minister Chow Kon Yeow said studies had shown that such a design would have ... Read More

Malaysia has recorded a total of 32,313 units of unsold completed residential properties in 2018 valued at about RM19.8 billion. This is a 30.6% increase from 24,738 units recorded in 2017, according to the National Property Information Centre’s (Napic) Property Market Status Report for 2018. The highest number of unsold ... Read More