All future housing projects must allocate one or two blocks for affordable Madani units to help lower-income groups own homes, says Prime Minister Datuk Seri Anwar Ibrahim.

He said the government was willing to expedite approvals if developers meet all requirements.

“For each new housing project, I’ve instructed the Federal Territories Department and City Hall to ensure that one or two blocks are allotted for Madani housing units for the people.

“We can provide leniency and expedite (the approval process), provided that there will be one or two blocks allotted for Madani housing units for the people,” he said at the launch of Madani Civil Servants Public Housing (PPAM Madani) Pixel Permaisuri today.

It was reported that the Madani Inclusive Housing pilot project would target groups in major cities such as Kuala Lumpur, Selangor, and Penang.

Anwar, who is also finance minister, said it was important to address housing needs in Kuala Lumpur, where tens of thousands were still waiting to own homes.

“I don’t care if the rich build houses priced at millions of ringgit, but the people must be assisted in getting affordable houses. The government machinery must address the complex housing problems,” he said.

He said the matter could be resolved if the public administration were strict in ensuring all requirements were met, including plot ratio, greenery and school, which saw leakages when the people’s interests were not given utmost priority.

He said affordable housing for civil servants was not solely the responsibility of the Housing and Local Government Ministry.

As of July 31, a total of 33,133 PPAM units have been completed nationwide. In the 2024 Budget, RM249 million was allocated for PPAM projects nationwide.

To date, 28 PPAM projects have been approved, with RM234 million in Madani PPAM incentives (iM-PPAM). Some 4,000 PPAM units are expected to be built next year.

There is a high demand for houses in Kuala Lumpur among civil servants, with 55,014 applications recorded compared to the 7,038 PPAM units available.

In line with the government’s aspiration for conducive affordable housing schemes, Madani housing in Kuala Lumpur will be led by the Federal Territories Department through Kuala Lumpur City Hall, according to a statement by the Prime Minister’s Department.

Strategic cooperation between the PPAM Unit under the Prime Minister’s Department and the Federal Territories Department will allow special quotas for Madani housing units for civil servants.

It said similar concepts could also be adopted through cooperation with state governments or the state Housing Boards.

The government will conduct a study on PPAM’s outcome and effectiveness, involving stakeholders.

“The findings will guide the direction and continuation of PPAM in the 13th Malaysia Plan,” it said.

Source: NST Online

Penang recorded a growth of 3.3%, increasing its gross domestic product (GDP) to RM116 billion in 2023 from RM112.3 billion in 2022, said the statistics department.

Chief statistician Uzir Mahidin said Penang had demonstrated strong economic performance in 2023, maintaining its position as the 4th highest contributor to the nation’s GDP at 7.4%.

“The state’s economic growth is driven by the services sector, which expanded by 6%, fuelled by tourism-related subsectors such as wholesale and retail trade, food and beverages, and accommodation.

Penang’s GDP per capita stood at RM72,586 in 2023, an increase from RM69,789 in 2022, he said in a statement.

Uzir said according to the Malaysian Investment Development Authority (Mida), the state attracted the highest approved investments in Malaysia at RM71.9 billion (2022: RM16.3 billion) in 2023, comprising RM61.7 billion in foreign investments and RM10.2 billion in domestic investments.

“The second-largest contributor to Penang’s economy, the manufacturing sector received significant investments at RM63.4 billion, including RM60.1 billion in foreign investments and RM3.3 billion in domestic investments.

This investment boost is expected to stimulate the local economy and create numerous new job opportunities, he said.

With sustainable economic growth and encouraging investment performance, Penang’s labour market continues to strengthen, increasing by 3.4% to 926,200 people (2022: 895,600), and the number of persons employed also rose to 905,600 (2022: 871,000).

The Labor Force Participation Rate (LFPR) increased by 1.2 percentage points from 70.1% to 71.3% in 2023.

At the same time, the unemployment rate improved, decreasing to 2.2% from 2.7% the previous year.

Penang also recorded the highest trade value in Malaysia at RM697.7 billion, with exports and imports valued at RM447.4 billion and RM250.3 billion, respectively.

Uzir said Penang’s main exports were integrated electronic circuits, electrical and electronic (E&E) products, piezoelectric crystals and components, making up 63.3% of the state’s total exports.

“Penang’s primary export destinations in 2023 were China (RM79.7 billion), followed by the US (RM76 billion) and Singapore (RM66.7 billion).

The main imported goods were integrated electronic circuits, piezoelectric crystals and components, and other E&E products, with major sources being China, Taiwan, and Singapore, he said.

Uzir noted that in line with the slower national inflation rate in 2023, Penang’s inflation also eased to 2.2% (2022: 3.2%), with the index points at 131.8 (2022: 128.9).

The increase was driven by the food and beverages group (5%), restaurants and hotels (4.2%), health (2.5%), various goods and services (2.2%), and housing, water, electricity, gas, and other fuels (1.7%).

Source: FMT Online

Proposed landed residential development by PPB Properties at Bukit Mertajam. The site is strategically located along Jalan Bukit Tengah, near SJKC Peng Bin. It offers easy access to Jalan Song Ban Kheng and direct connectivity to Jalan Baru, neighboring townships are just a short drive away.

This small development features 12 units of villa homes, within a vicinity that includes upscale developments with semi-detached and bungalow houses.

Project Name : (to be confirmed)
Location : Bukit Mertajam
Property Type : Residential
Tenure: Freehold
Built-up Size: (to be confirmed)
Total Units : 12
Indicative Price : (to be confirmed)
Developer : PPB Properties

DISCLAIMER: This article is solely based on research done using publicly available data. This is not an advertisement. Any claim, statistic, quote or other representation about a project or service should be verified with the developer, provider, or party in question.

About Mertajam Heights

A residential development in the heart of Bukit Mertajam. Strategically located along Jalan Ciku, immediately opposite Ng Yam Huat food court with an abundance of essential amenities within 2km radius. The development features a 21-storey apartment building that offers a total of 278 residential units and 4 levels of car park. The residential units come in various sizes, ranging from 1,000sq.ft. to 1,498sq.ft. and offer a dual-key option.

*Photo taken end-July 2024

Find out more about Mertajam Heights

International banks like HSBC play a crucial role in supporting Penang’s growth, says Chief Minister Chow Kon Yeow.

Speaking at the HSBC Malaysia Anniversary Dinner to commemorate its 140th anniversary this year, Chow highlighted the bank’s significant contribution to the state’s development.

The event was held at the Penang Marriott Hotel in Gurney Drive.

He further mentioned the importance of HSBC in fostering trade and investment between Penang and the global market.

“At the same time, HSBC is catalysing strategic investments that support the progression of key industries and address the financial needs of consumers while also helping them to manage, protect and grow their wealth.

“Thus, we truly appreciate long-standing investors such as HSBC for their role in facilitating the state’s economic growth, and transformation. This is very much valued,” said Chow in his speech.

Chow also congratulated HSBC Malaysia on its 140th anniversary in the country.

“I would like to extend my warmest congratulations to HSBC for reaching this auspicious milestone.

“We especially take pride in the fact that Penang is HSBC’s birthplace in Malaysia.

“Since establishing its first office in the country here in Penang in 1884 in Beach Street, the bank has had significant success and has made numerous contributions to support the state and the country’s development and its people.

“Thus, we look forward to continuing to work with you to elevate Penang’s economy to greater heights,” said Chow.

Meanwhile, HSBC Malaysia Group manager and chief executive officer Datuk Omar Siddiq said HSBC, with its unparalleled international network, will always play a crucial role in bringing Malaysia to the wider world and the wider world to Malaysia.

“We are also keen to continue to support Penang in attracting investment for key industries to continue to help where we can.

“This also includes supporting numerous businesses in the state, ranging from multinational corporations to small and medium enterprises as well as individual clients,” said Omar.

Source: Buletin Mutiara