There are 2,947 property units categorised as “overhang” or unsold in Penang as of the third quarter of this year (3Q 2023), said state Housing and Environment Committee chairman Datuk Seri S. Sundarajoo. According to the National Property Information Centre, 503 of the unsold units are priced below RM300,000, or ... Read More

Battery manufacturer INV New Material Technology (M) Sdn Bhd is committing a remarkable RM6.4 billion investment to establish its first-ever manufacturing plant in Penang. The Penang Technology Park@Bertam in Kepala Batas witnessed a significant groundbreaking ceremony yesterday, marking the commencement of this state-of-the-art facility. The parent company, Shenzhen Senior Technology Material ... Read More

The Penang government has approved two applications for the construction of foreign workers' dormitories in Teluk Kumbar. State Local Government, Town and Country Planning Committee chairman H'ng Mooi Lye said based on the approval that has been certified by the Penang State Planning Committee, an estimated 32,680 foreign workers would ... Read More

Penang Development Corporation (PDC) will be the sole developer of industrial parks in the state and these projects will not be given to the private sector, Chow Kon Yeow told the state assembly. "PDC industrial land banks are in strategic locations and can be marketed to investors in promoted industries," ... Read More

PropertyGuru Group, Southeast Asia’s leading property technology company, today announced the winners of the 10th PropertyGuru Asia Awards Malaysia in partnership with iProperty.com.my at The Majestic Hotel Kuala Lumpur, the official venue. Excellent companies and property developments, as well as exemplary individuals in the real estate industry, comprised this year’s ... Read More

The Penang Island City Council (MBPP) is open to considering proposals for the alternative use of an abandoned two-storey hawker complex in Lengkok Erskine, apart from its original purpose as a food court. Nicholas Theng Jie Wey, the MBPP alternate chairman of the Finance Committee, revealed that despite three previous calls ... Read More

The ban on short-term rental in Penang has resulted in an increase in property values and rental yields, according to Eastern & Oriental Bhd (E&O). E&O executive chairman Datuk Tee Eng Ho said the group's property development in Penang was never intended to be marketed as an investment play. "Whichever ... Read More

The fate of Penang’s undersea tunnel project hinges on the comprehensive masterplan for the North Butterworth Container Terminal (NBCT), set to be finalised by the Penang Port Commission (PPC) by the year’s end. Zairil Khir Johari, chairman of the state Infrastructure, Transportation, and Digital Economy Committee, emphasised that the preservation of ... Read More

The Penang light rail transit (LRT) project is on track to become a reality, the state legislative assembly heard on Tuesday. State Infrastructure Committee chairman Zairil Khir Johari said the project manager, Mass Rapid Transit Corporation Sdn Bhd (MRT Corp), has already called for a tender to appoint a consultant ... Read More

The rise in housing prices in Penang correlates with the growth in household income, Datuk Seri Sundarajoo Somu (PH-Perai) said. Replying to an oral question posed by Muhammad Fauzi Yusoff (PN-Sungai Dua) during the State Legislative Assembly yesterday, Sundarajoo, a first-term assemblyman, substantiated his claim with the data reported in the ... Read More