Ideal Property Group proudly announces its recent triumph at the esteemed Fiabci Malaysia Property Award 2023. The company’s premier development, Queens Residences Q1 (Q1), located in the picturesque bay in Bayan Lepas, Penang, was honoured as the winner in the Mid Rise Residences category. This accolade reaffirms Ideal Property Group’s commitment to excellence and innovation in the realm of property development.

Q1, the first phase of the expansive Queens Waterfront master plan, has garnered widespread acclaim for its exceptional location, sustainable features, and unparalleled quality. Q1 offers residents an exclusive seafront lifestyle coupled with the convenience of being just 6 kilometers away from Penang International Airport. This prime location, nestled within a vibrant industrial and technological hub, makes Q1 an ideal choice for both homeowners and investors seeking unparalleled connectivity and growth potential.

“We are thrilled to receive the Fiabci Malaysia Property Award 2023 for Queens Residences Q1,” said Dato’ Ng Tyan Ping, COO of Ideal Property Group. “This recognition is a testament to our unwavering dedication to creating exceptional living spaces that prioritize quality, sustainability, and community well-being. We are immensely proud of Q1 and its contribution to redefining the standard of luxury living in Penang.”

One of the key strengths of Q1 lies in its dedication to fostering sustainable living. Q1 complies with the Green Building Index (GBI) standards, demonstrating its commitment to sustainable development right from the start. The development has proactively implemented various energy consumption control measures, including energy-efficient building design, rainwater harvesting systems, and low-flow fittings to enhance water efficiency. Furthermore, Q1 Residences has achieved a high score of 85% for Quality Assessment System in Construction (Qlassic), highlighting its meticulous attention to quality craftsmanship and construction excellence.

Moreover, Q1 is not just a residential enclave; it is a thoughtfully planned community that fosters a low-carbon lifestyle without compromising on aesthetics. The development features a commercial lifestyle hybrid mall on the ground and first floors, complemented by sea-facing alfresco dining options. Additionally, Q1 is attached to a 50-ft wide promenade spanning approximately 700 meters, encouraging healthy outdoor activities and fostering a sense of community among residents.

With its unique architectural charm and prime seafront location, Q1 has emerged as a popular choice among locals and investors alike. The appreciation value of units at Q1 continues to soar, reflecting the development’s high potential for long-term growth and investment returns.

“Q1 embodies our vision of creating vibrant and sustainable communities that enrich the lives of residents,” added Dato Ng Tyan Ping. “We are delighted to see the positive impact that Q1 has had on its residents and the surrounding community, and we remain committed to delivering excellence in every project we undertake.”

Q1 marked the inception of the Queens Waterfront master plan, encompassing a total of 4 development phases. Ideal Property Group completed Q2 in 2022 and is currently progressing with Q3 under construction. The company remains steadfast at the forefront of real estate industry, continuously setting new standards for integrated development in Penang, leading the way for future advancements in the region.

The construction of Penang’s first light rail transit (LRT) project will begin by the fourth quarter of this year, says Anthony Loke.

The Transport Minister added that the Penang LRT Mutiara Line project has been officially taken over by the Federal Government and is estimated to take six years, with completion slated for by 2030.

“We hope that within six months, the negotiations with SRS Consortium Sdn Bhd can be concluded.

“Following that, we expect physical works can start at least by the fourth quarter this year,” he told reporters at the ministry’s office on Friday (March 29).

The contracts for the LRT project have been divided into three main components – Silicon Island to Komtar contract (Segment 1), Komtar to Penang Sentral contract (Segment 2) and turn-key systems and rolling stocks contract.

Loke said SRS Consortium Sdn Bhd has been offered the Segment 1 contract based on the Single Sourcing Request for Proposal mechanism.

Meanwhile, the other two remaining contracts will be offered on an open tender basis.

“The offer (to SRS Consortium) was made based on the request by Penang state government which had appointed SRS as the Project Delivery Partner of the Penang Transportation Master Plan, which comprises the Penang LRT Mutiara Line, through an open tender in August 2015.

“SRS has also studied the technical early designs while acquiring approvals for the Environmental Impact Assessment, Social Impact Assessment and conditional Skim Kereta Api,” he said, adding that the costs were also borne out by SRS.

Loke added that the Cabinet has agreed to appoint MRT Corp as the developer and asset owner of the new train line.

He said that the rolling stock operations depot and transit-oriented development projects will be conducted by MRT Corp together with the state government.

“The new strategy aims to generate extra non-fare revenue to be reinvested for train maintenance in the future,” he added.

Stretching about 29km, Penang LRT Mutiara Line, will be equipped with 20 stations which include two interchange stations in Komtar and Penang Sentral.

Source: TheStar.com.my

Penang Island City Council’s Commissioner Of Building, together with the PDRM, acted as observers during an enforcement operation for the seizure of movable assets at Serina Bay Apartment in Jelutong.

The enforcement operation was carried out by Serina Bay Management Corporation in collaboration with the Commissioner Of Building and the police. The operation successfully targeted two residential units with outstanding maintenance fees, sinking Fund, and other arrears.

During the operation, one residential unit was found to have no movable assets for seizure, while another unit resulted in the seizure of nine movable assets.

It is the responsibility of strata property owners to settle maintenance fees and sinking fund payments. Failure to do so may result in legal action under Section 79(1) of the Strata Management Act 2013 (Act 757) by the management corporation.

Source: MBPP FB

About Sactuary Suria

The 6th phase of residential development at Permatang Sanctuary by IJM in Alma, Bukit Mertajam. Located along Lorong Santuari 25 & 27, adjacent to Sanctuary Court. It is only a short drive to an abundance of amenities namely AEON Mall, Tesco Hypermarket, eateries, schools and banks. This development features 20 units of 2-storey semi-detached houses, with two different built-up sizes to choose from.

Find out more about Sanctuary Suria

Ewein Bhd is stepping up its game in the provision of services connected to worker dormitory lodgings and workforce management a related party deal.

The property developer and producer of precision sheet metal fabrication is paying RM25.84 million to acquire a plot of unoccupied industrial land in Butterworth, Penang, to build a workers’ dormitory.

In a bourse filing, the group stated that Magnum Heritage Sdn Bhd (MHSB) is selling the land to its indirect subsidiary, Delight Island Sdn Bhd (DISB).

DISB was previously owned by HS Land & Property Sdn Bhd, Ooi Eng Leong, Poly FHY Properties Sdn Bhd, and Tah Wah Group Sdn Bhd, who are shareholders of MHSB.

However, in November 2023, Ewein Land Sdn Bhd paid RM100,000 to purchase it.

Ooi is a significant shareholder in both companies. He has a 44.72 per cent interest in Ewein and a 23 per cent stake in MHSB.

Ewein said that its entry into manpower management services might account for as much as 25 per cent of its net profits. The move will cause a future diversion of more than 25 per cent of the group’s net assets.

Meanwhile, Ewein said that it will construct a 16-storey worker dormitory block on the 16,004-square metre plot of land that it is acquiring.

The group said that this marks a starting point for their first project, which will allow them to explore the workforce management services industry and generate new revenue.

Ewein said it will use bank borrowings and internal funds to fund the purchase of the land, which it expects will be completed by the second half of 2024.

Source: NST Online