Kings Galleria at RU Square, Raja Uda is designed to become more desirable by offering convenience to the neighbourhood. It is a commercial development that includes individual titles. Kings Galleria showcases a unique, modern, and heritage design concept with a total of 16 units of semi-detached shop lots, which emphasize the closeness of building occupants to nature by using raw building materials such as bare brick walls and steel structures. It incorporates biophilic design elements like natural lighting, ventilation, and natural landscape features to create a healthier environment for all.;

Mapping the Future with Heritage in Mind

Located in the mature town of Raja Uda, Butterworth is poised to become the focal point of continuous growth in the surrounding area. It is interconnected with the existing mature neighbourhoods such as Bagan Ajam, Mak Mandin, Permatang Pauh, as well as Seberang Jaya and Bukit Mertajam in the Seberang Perai Utara region. A well-established network of highways ensures excellent accessibility to Sungai Petani, Kedah ; North-South Highway to Ipoh, Perak, and Penang 1st & 2nd Bridges to Penang Island centre as well as other prominent locations within the North Peninsular. Considered as a center stage of people, business and lifestyle, Kings Galleria is an ideal place filled with great potential, large catchments, ample activities.

The 3-storey Kings Galleria has a double-volume space concept with two different layout plans: Type A (Intermediate) and Type B (Corner). The price ranges from RM3,888,000 onwards.

Sales Gallery opens from 9 am – 6 pm (Monday to Saturday) and 11am – 4pm (Sunday & Public Holiday) Call us at 016-291 6133 for more details.

Jayamas Property Main Office: 11, Jalan Casa Residensi, Pusat Perniagaan Casa Residensi, 14000 Bukit Mertajam, Pulau Pinang.

Sunway Property, the property arm of Sunway Group, has announced Chung Soo Kiong as its new Managing Director.

Chung, who succeeds Datin Paduka Sarena Cheah, brings more than 20 years of extensive experience in property development and construction businesses within Sunway Group.

Chung most recently served as the Managing Director of Sunway Property’s International division, where he spearheaded regional ventures and key projects in Singapore, China, and other markets.

With his new portfolio as Managing Director of Sunway Property, Chung will now lead the overall property division, encompassing both domestic and international operations.

In his expanded role, Chung will be supported by Chong Sau Min, Chief Executive Officer of Sunway Property (Central & Northern Region) and Sunway Property & Facilities Management (SPFM), and Gerard Soosay, Chief Executive Officer of Sunway City Iskandar Puteri.

Chung said, “Building on the strong foundation laid by Datin Paduka Sarena and the incredible team, I look forward to delivering innovative, sustainable solutions that not only meet but exceed the expectations of our communities and stakeholders.”

Cheah, who formerly held this position, assumes the new role of Executive Deputy Chair of Sunway Group on January 2, 2025.

Cheah will focus on expanding the Group’s international footprint and continue overseeing the development of Sunway City Iskandar Puteri into a world-class township that attracts global investments and promotes regional tourism.

Reflecting on her new role, Cheah said, “It has been a privilege to lead Sunway Property and contribute to its remarkable journey. I am confident that under Chung’s leadership, the division will reach even greater heights. As I take on this new role, I remain steadfast in advancing Sunway’s vision of building a sustainable future for generations to come.”

The Group also welcomed Datuk Mohd Anuar Bin Taib as Deputy President of Sunway Group on the same day. A seasoned corporate leader, Anuar has served as an independent non-executive director on the board of Sunway Berhad since July 2023. In his new role, he will oversee core business divisions, including Sunway Property, Sunway Malls, and Sunway Healthcare, among others.

Bank Negara Malaysia (BNM) has raised concerns that overly lenient housing loan policies could undermine affordability and destabilize the property market. The central bank highlighted that relaxed financing conditions, such as extended loan tenures and speculative buying driven by easy credit access, significantly contributed to housing price surges between 2012 and 2014.

During this period, house prices increased at an average annual rate of 10.1%, outpacing income growth and making homeownership challenging for many Malaysians. Additionally, household debt levels and speculative activity in the housing market spiked, with many borrowers taking on multiple housing loans.

In response, BNM implemented measures to curb speculative buying and temper the housing market. Key regulations included a 70% loan-to-value (LTV) cap for borrowers with more than two outstanding housing loans and a maximum loan tenure of 35 years. These measures have successfully moderated house price growth to a more sustainable average of 5.3% between 2015 and 2019.

BNM emphasized that while extending loan tenures may reduce monthly repayments and make houses appear more affordable in the short term, it could lead to higher overall financing costs and increase household indebtedness. Prolonged loan periods also risk further fuelling property price inflation, making housing even less accessible for future generations.

The central bank encourages borrowers to carefully evaluate financing options and choose loan terms that align with their financial capacities. While financing conditions influence affordability, BNM noted that structural factors such as inadequate housing supply, mismatched pricing relative to household incomes, and stagnant wage growth play more significant roles in housing price trends.

Government initiatives aimed at increasing household incomes, improving housing supply, and developing a robust rental market are critical measures to address Malaysia’s housing affordability crisis holistically.

Datuk Chang Kim Loong, honorary secretary-general of the House Buyers Association (HBA), cautioned against high loan coverage schemes, such as 120% loans, which might seem helpful but could burden buyers with higher repayments over time. He advised prospective buyers to exercise caution and conduct thorough due diligence before proceeding with such arrangements, emphasizing that there is no “free lunch” and that buyers will ultimately pay significantly more over the loan’s tenure.

Chang reminded house buyers that the cost of purchasing a home extends beyond the 10% down payment, urging them to prepare an additional 10% to cover legal fees, stamp duty, and other ancillary costs. He also advised against taking loans for renovations and electrical applications, suggesting that such expenditures should remain within one’s budget to avoid additional financial burdens.

He stressed that offering higher loans does not solve the affordability issue and only encourages buyers to take on additional debt, exacerbating their financial burden in the long run. Chang advocated for reducing house prices to address affordability, rather than extending loan tenures or increasing loan amounts. He suggested that individuals without the initial down payment should consider renting, which carries less risk compared to committing to a long-term housing loan.

Chang warned that higher loan offerings could lead to increased house prices, as buyers who previously could not afford such homes might now qualify for larger loans. However, he cautioned that qualifying for a loan does not guarantee the ability to maintain repayments while sustaining a reasonable quality of life. He added that individuals opting for high loan schemes often lack an understanding of financial management and may not be responsible borrowers.

To address housing affordability, Chang recommended that the government provide financial incentives to developers to build more affordable homes, priced between RM150,000 and RM300,000, and reduce red tape and the cost of doing business to facilitate the construction of such housing.

Eco World Development Group Berhad (EcoWorld) celebrated the grand opening of its new retail hub, Australis @ Eco Horizon City, on Friday. The event marked a significant milestone as EcoWorld announced its partnership with EFS Revision Energy Sdn Bhd (EFS) to install solar energy systems in key facilities, moving closer to its 2050 net-zero goal.

Speaking at the launch, Dato’ Ir Chan Soo How, EcoWorld’s General Manager for the Northern Region, highlighted that Australis would operate entirely on solar power, representing a pivotal step in the company’s transition toward a low-carbon economy.

Under the collaboration, EFS will install a total of 587 kilowatt-peak (kWp) of solar photovoltaic (PV) systems across several locations within Eco Horizon City, including the Eco Horizon Sales Gallery, Australis, and Eco Horizon Clubhouse.

“These installations will significantly reduce reliance on conventional energy sources, lower carbon emissions, and promote the adoption of clean energy. This initiative benefits not only the residents of the township but also the broader community,” said Chan.

EcoWorld has already implemented solar PV systems in its sales galleries and commercial centers across Klang Valley and Johor, with 85% of its developments earning green certifications.

The partnership agreement was formalized during the ceremony, witnessed by EcoWorld Deputy CEO Liew Tian Xiong and EFS CEO Darren Tan. Chan and EFS CCO Donovan Chia signed the agreement, reaffirming EcoWorld’s commitment to sustainable development.

Australis @ Eco Horizon City, spanning 1.93 acres, features 10 double-storey shop units and boasts a 90.5% occupancy rate. Offering retail, dining, and fitness options, it provides a one-stop lifestyle experience for residents.

The success of Australis is also attributed to its remarkable tenants, including Jaya Grocer, Believe Fitness, High 10, Dragon Noodle, Health Lane Pharmacy, Emart24, Bean & The Gang, BingXue, Mi Ban Cafe, and Hairstory. Their decision to make Australis their business home has transformed the center into a vibrant and dynamic hub, offering a diverse range of services to the community.

The Penang government’s offer of optional 99-year leasehold extensions and premium discounts has been warmly received by leaseholders in Kampung Valdor, Nibong Tebal.

During a dialogue session with Chief Minister Chow Kon Yeow, Bukit Tambun assemblyman Goh Choon Aik, and state Land and Mines officials, attendees expressed their satisfaction with the explanations provided regarding the eligibility and benefits of lease extensions.

Chow highlighted that leaseholders could choose extensions ranging from 30 to 99 years, with premium discounts of up to 90% based on current land values.

“We are committed to addressing leaseholders’ concerns and ensuring they benefit from this initiative,” Chow said, encouraging leaseholders to act quickly to take advantage of the significant savings.

The premium discounts apply to various land use categories, including agricultural, residential, commercial, and industrial lands.

Goh added that he would gather applications from leaseholders after Chinese New Year and submit them to the relevant authorities.

“We expect a strong response from leaseholders eager to benefit from this opportunity,” he said.

This initiative, officially announced in 2023, aims to support Penang residents while ensuring fair and sustainable land management.