The property market in Penang is known as one of the most expensive in the country, with prices soaring over the years despite various cooling measures implemented by the authorities. Recently, however, there have been signs of property prices stabilising and the state has even reported property overhang. Since 2014, ... Read More

Sanctuary Row, a freehold commercial development at Permatang Sanctuary by IJM in Bukit Mertajam. Located along Jalan Santuari 2, right across the road from Sanctuary Villa. It is only 2km away from AEON Mall and Tesco Hypermarket, about 15-minute drive to Juru Auto-City and Penang Second Bridge. This development will offer ... Read More

Housing and Local Government Minister Zuraida Kamaruddin called on state governments to submit their respective lists of land that will be used to build affordable housing by the end of October. “No land, no affordable housing,” she said at a press conference after the government-industry open dialogue on housing - ... Read More

Waterstone, a residential development by Taman Sri Bungah Sdn. Bhd. (aa subsidiary BSG Property) at Tanjung Bungah, Penang. Located off Jalan Loh Poh Heng, right next to Hillview Garden. It is only a mere minutes drive to Tunku Abdul Rahman University College. The first phase of this development will see ... Read More

The Department of Environment (DOE) has approved the construction of the three-paired highways across the island. State exco for Public Infrastructure Zairil Khir Johari said the DOE has approved the Environmental Impact Assessment (EIA) report with 59 additional conditions attached. In a joint press conference with the delivery partner – ... Read More

Gurney Wharf, a world class “park-on-the-sea”, is going to be even better than initially planned. The state government is planning to transform the place into “the pride of Penangites” with seaside retail outlets, F&B aplenty, water gardens, and beach and coastal grove on the 24.28ha plot of reclaimed land. “We ... Read More

Another proposed affordable housing development by PLB Land Sdn. Bhd. at Paya Terubong. Located along Tingkat Paya Terubong 5, just a stone's throw away from Eco Terraces luxury condominium by Eco World. It is approximately 10km away from Penang International Airport and Penang Bridge. This development will feature 2 blocks ... Read More

The government should consider using a certain portion of taxes collected from the rakyat to set up a specific fund for housing purposes. Penang Housing, Town, Country Planning and Local Government Committee chairman Jagdeep Singh Deo proposed that the money from the fund could be used for efforts such as ... Read More

Datuk Tan Kean Tet, the chairman of Penang-based property developer Iconic Group Sdn Bhd, is acquiring a substantial stake in Sanbumi Holdings Bhd Sanbumi, in a filing with Bursa Malaysia, said the company had entered into a conditional share subscription agreement with Tan for the placement of 22.6 million new ... Read More

Property developers acknowledge that unbilled sales are on the decline but say the situation is not so bad and they are still able to record decent earnings. The decline in unbilled sales, they said, is in line with the overall slowdown in the property market over the past few years ... Read More