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Property News

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Two opposing views on proposed new residential tenancy law

A proposed new law on tenancy of rented houses, which is to deal with racism in the housing market, has drawn two opposing views on when it should be taken to Parliament. A representative of house buyers, Chang Kim Loong, says the government should focus on the economy instead as ... Read More
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Site offices for PSI project to use renewable energy

In line with the commitment to build an ESG- (environment, social and governance) compliant Penang South Islands’ (PSI), the project’s site offices will strive to use renewable resources to meet their operational needs. SRS Consortium deputy project director Azmi Mohamad said the Marine Operation Control Centre (MOCC) in Batu Maung ... Read More
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SITE PROGRESS: Mezzo @ The Light City (Apr 2022)

About Mezzo @ The Light City The first residential project at The Light City – a large-scale 32.76 acre integrated mixed-use waterfront development by  IJM Perennial Development in Gelugor, Penang. Strategically located next to The Light Collection, just a mere minutes drive from Penang Bridge and George Town. It comprises two 34-storey ... Read More
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Butterworth Arena

The construction of the largest banquet hall in Seberang Perai or known as Butterworth Arena is expected to be completed in September this year! Located in Ampang Jajar, Butterworth Arena is a five-star banquet hall! It is an initiative of the Penang state government through the Penang Development Corporation (PDC) with ... Read More
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i-Biaya to help increase home ownership among M40 and B40

The government will assist low-income families to have their own homes through the Malaysia Housing Financing Initiative (i-Biaya) which was launched two days ago. Finance Minister Tengku Datuk Seri Zafrul Tengku Abdul Aziz (picture) said the government is aware that individuals with no fixed income or payslip would face difficulties ... Read More
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Penang had the third highest number of residential property overhang in 2021

According to the Property Market Report 2021 by the National Property Information Centre (Napic), residential property overhang increased to an all-time high last year of 36,863 units worth RM22.79 billion, marking a 24.7% increase in volume and 20.5% rise in value compared with 2020. Napic defines “overhang” as residential units ... Read More
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China’s Cainiao eyes Penang for proposed distribution park

China-based Cainiao Smart Logistics Network Ltd plans to set up a distribution park in Batu Maung, Penang to capitalise on the strategic location and global surge in e-commerce. The logistics company, an affiliate of Alibaba Group Holding Ltd, today inked a memorandum of understanding (MoU) with the Penang Development Corporation ... Read More
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Road project at Jalan Bukit Minyak Utama to finish in November next year

The road widening works in Jalan Bukit Minyak Utama from Kota Permai junction to the Jalan Rozhan junction in Bukit Mertajam are expected to be completed by Nov 30, 2023. Machang Bubuk assemblyman Lee Khai Loon said the road widening works started on Jan 28 this year. “We are confident ... Read More
SPU

i-Biaya to help increase home ownership among M40, B40

The Malaysian Housing Financing Initiative (i-Biaya) is one of four components of the Home Ownership Programme (HOPE) and among the efforts of the Housing and Local Government Ministry (KPKT) to increase home ownership among the people. KPKT deputy secretary-general (Housing and Community Wellbeing), Datuk Azhar Ahmad said the initiative would ... Read More
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Seberang Perai set to become the next big thing in tourism

Penang's mission of diversifying tourism offerings on the mainland took a major step today after the launch of the ‘Opposite Side of the Island – Seberang Perai campaign’ at Iconic Hotel in Bukit Mertajam. As part of the ‘Experience Penang’ campaign, the highlight of today’s launch was the Seberang Perai tourism ... Read More