The Housing and Local Government Ministry has recorded 117 abandoned projects covering 30,840 units of houses as at January 31 with 81 of them comprising housing projects priced RM300,000 and below.

Its deputy minister Datuk Aiman Athirah Sabu (pictured) said the 81 projects involve 23,031 unit of houses and 12,565 buyers.

“They are made up of 13 projects with a price range of RM301,000 to RM500,000, five projects at a price range of RM500,001 to RM750,000, two projects between RM750,001 to RM1 million and 16 projects for houses worth RM1 million and above, ” he said.

He said this during an oral question-and-answer session at Dewan Rakyat on Tuesday in reply to a supplementary question by Senator Tan Sri Datuk Low Kian Chuan who wanted to know the number of projects and abandoned houses according to the price range.

Replying to Senator Manolan Mohamad’s supplementary question regarding the surplus of unsold houses, he said the issue of overhang residences is a manifestation of the mismatch between demand and supply of houses in the market.

Among the main factors that cause the surplus of unsold completed houses is the COVID-19 epidemic which affected economic growth and the financial position of buyers besides the sale of houses with high prices but low demand.

Other factors include developers building projects in less strategic areas and do not have good facilities as well as the rejection of buyers’ financing loans by banking institutions due to their qualifications and capabilities.

Replying to Low’s original question regarding the timeline for completing the vacancy tax feasibility study to help solve the problem of unsold residential properties (overhang), Aiman Athirah said the government does not believe there is a need to carry out the Vacancy Tax feasibility study.

“The government is of the view that the intervention actions implemented in the housing market at the moment are adequate,” he said.

Source: Bernama

About Sactuary Row

A freehold commercial development at Permatang Sanctuary by IJM in Bukit Mertajam. Located along Jalan Santuari 2, right across the road from Sanctuary Villa. It is only 2km away from AEON Mall and Tesco Hypermarket, about 15-minute drive to Juru Auto-City and Penang Second Bridge. This development features 24 units of double-storey shop offices.

Find out more about Sanctuary Row

Komtar, Penang’s prime shopping centre in the 1980s and 1990s, has lost its appeal over the years. And the only thing keeping Komtar alive is the fact that it houses the administrative offices of the Penang government and the chief minister, aside from the Urban Transformation Centre (UTC).

Penang Development Corporation (PDC) chief executive officer Datuk Aziz Bakar said they had just appointed a consultant to relook at the whole development in Komtar to breathe new life into the building.

He said they were looking at rezoning the building to see what activities should be brought into Komtar.

“This is the effort that is being made, and in three months time, we should be able to get the proposal from the consultant.

“We will have engagement sessions with the tenants to involve everyone as some of the units are privately owned. Not 100 per cent of the units belong to PDC,” he said when asked on PDC’s efforts to spruce up its old buildings, among which is Komtar.

He was met at the launch of PDC Strategic Plan 2024-2028, Sustainability Initiative and PDC GoDigital by Chief Minister Chow Kon Yeow yesterday.

Such a move, Aziz said, would be good to ensure everyone could share his or her ideas to breathe new life to Komtar.

Komtar or the Tun Abdul Razak Complex was completed back in 1985. At the time, Komtar Tower, which stands at 231.7 metres (760 ft), was the second tallest building in Asia and the tallest in Southeast Asia.

The main complex was built between 1974 and 1986, at an initial cost of RM279.5 million (equivalent to RM642.5 million in 2023).

Plans for a civic and commercial complex within central George Town were first proposed by the state government in 1962 and were approved in 1969 by the then chief minister Tun Dr Lim Chong Eu. It was implemented by the PDC in 1972.

The complex was seen as ahead of its time, and was the largest urban regeneration project in Malaysian history.

With Komtar being just a few metres from the planned location of the light rail transit (LRT) station, it is hoped that the project will facilitate the arrival of more visitors to the state’s most iconic building.

Source: NST Online

Frieden, a landed residential development by Viva Prima Development Sdn. Bhd. (a subsidiary of WHH Land) at Bukit Minyak. Located near Jalan Bukit Minyak, this development is adjacent to BM Utama housing scheme by DNP Land. It is 20 minutes drive away from Penang Bridge, under 5km to AEON Mall at Bukit Mertajam.

This development features a total of 52 two-storey terrace units, each boasting a built-up size starting from 1,800 square feet. Indicative price starts from RM794,700 onwards.

Project Name : Frieden
Location : Bukit Minyak
Property Type : Terrace
Built-up Size: 1,800 sq.ft. onwards
Land Area: 1,378 sq.ft. onwards
Tenure: Freehold
Total Units : 52
Indicative Price : RM794,700 onwards
Developer : Viva Prima Development Sdn. Bhd. (WHH Land)

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.

As a pioneering state agency, the Penang Development Corporation (PDC) today unveiled three key measures to stay relevant, enhance competitiveness and boost the state’s overall economic performance.

The three measures include the launching of the PDC 2024 – 2028 Strategic Plan, Sustainability Initiative and GoDIGITAL PDC.

PDC chief executive officer Datuk Aziz Bakar said there are four key thrusts under the strategic plan, namely Land Innovation, Asset Innovation, Business Sustainability and Smart Professional, collectively referred to as LABS.

He added that there are 15 important strategies, representing these thrusts, that will effectively drive several key projects that have been planned, such as the land acquisition proposal, Linear Waterfront, Medi-City, The Coast, GBS@Technoplex, logistic and distribution hubs, among others.

“We are trying to streamline a complete ecosystem. In the pipeline, we plan to build a distribution hub to support the logistics industry near the Penang International Airport, following the Federal Government’s approval for expansion works.

“PDC has vowed to construct four workers’ hostels on the mainland, and once completed, they can potentially accommodate up to 30,000 workers.

“One of the four projects is currently undergoing construction at the Penang Science Park (north), slated for completion in August this year.

“Two more projects are pending construction approval by the authority, and they will be at the Penang Science Park (south) and Batu Kawan Industrial Park 3.

“Meanwhile, the last one has been awarded to a developer to design and build in Bandar Cassia.

“The main objective of these hostels is to support the booming economy in the state, address social issues, and attract more investors,” Aziz said in his speech during the launching ceremony of the initiatives at the PDC in Bayan Baru today.

It was learned that PDC has a proposal to acquire 3,000 acres of land either in the north Seberang Perai district, south Seberang Perai district or the central Seberang Perai district for industrial development purposes.

Relatively, Aziz stated that PDC is expected to spend around RM5 billion in the next seven to eight years on all the projects planned under its purview.

Meanwhile, Chief Minister Chow Kon Yeow, who was present to officiate the ceremony, has called for the management at PDC to work closely with one another to spearhead growth in the short and medium term.

“The private sector is equally competitive in developing industrial parks in Penang, and we have to receive and embrace the fact that they are also keen on attracting investors while creating job opportunities and boosting the state’s social economy.

“Participation by the state and Federal agencies is vital to assist PDC in its goals and objectives to materialise these projects,” Chow said in his speech.

As for sustainable initiatives, Aziz said PDC was proud to be the first state agency in Penang to implement the Environmental, Social and Governance (ESG) and Sustainable Development Goal (SDG) report and framework.

The four main thrusts are: Straightening the Basis of our Governance, Enhancing our Economic Sustainability, Protecting our Natural Ecosystem and Promoting Social Equity and Quality of Life (SEPP).

Earlier, Chow was invited to sign a smart board as PDC announced its GoDIGITAL initiative, featuring the use of digital signatures introduced in January this year.

It was learned that PDC became the first state agency in Penang to introduce this effort, which is aimed at a seamless and convenient workflow for all stakeholders.

Among others present during the event were Penang State Secretary Datuk Rosli Isa, state Infrastructure, Transport and Digital Committee chairman Zairil Khir Johari and state Housing and Environment Committee chairman Datuk Seri Sundarajoo Somu.

Source: Buletin Mutiara