PENANG RESIDENTIAL PROPERTY MARKET In Penang, the residential property market contracted by almost half since the hitting its peak in 2011. The market recorded a total of 9,667 transactions in 4Q2011, its highest in four years, before seeing a drastic drop of about 48.47% in 1Q2012, to just 4,981 transactions ... Read More

Ewein Bhd, which is currently jointly developing the RM800 million City of Dreams condominium project in Bandar Tanjong Pinang, Penang with Consortium Zenith BUCG Sdn Bhd (CZBUCG), is set to bag its second project on the island by the end of the year. “Right now, we are finalising and fine-tuning ... Read More

An upcoming high-rise development proposed by CBD Capital Sdn. Bhd. at Butterworth. This project comprises a 15-storey 205-unit service apartment with 3 retail units located at ground floor.  It will also comes with facilities such as swimming pool, gymnasium and etc. This development is located just next to Butterworth Outer Ring ... Read More

Are you currently renting or looking to rent? If you are, there might be some good news for you on the horizon. Rental charged for condominium units is expected to drop by 20% to 40% due to an oversupply: as more and more of them become ready for occupancy and ... Read More

The Government is considering housing developers’ request to reintroduce DIBS (Developers Interest-Bearing Scheme) for first-time house buyers. Minister in the Prime Minister’s Department Datuk Seri Abdul Wahid Omar says the Government is discussing whether to relax current buying and lending guidelines for first-time house buyers. “It is still at the ... Read More

Slow-moving traffic has become the daily bane of road users on Penang Island and has recently gotten worse. With a population of 752,800 people, the island had 1.03 million private car registrations in 2014 – a staggering increase of 32.9% in seven years from 2008. Road users commute for various ... Read More

A newly proposed affordable housing project by Villa Acres Development Sdn. Bhd. at Bukit Mertajam, Penang. If approved, this will be one of the very strategic affordable housing location in the mainland that I have known so far. It is strategically located along Jalan Betek, easily accessible via the ever ... Read More

Eastern & Oriental Bhd (E&O) has awarded a contract to China Communications Construction Co Ltd (CCCC) to undertake land reclamation works for Seri Tanjung Pinang Phase 2 (STP2) in Penang. In a filing with Bursa Malaysia, E&O said its subsidiary Tanjung Pinang Development Sdn Bhd had issued a letter of ... Read More

A string of innovative housing packages to counter the high rate of bank loan rejections will be introduced in Penang soon. State Housing, Town and Country Planning Committee chairman Jagdeep Singh said details of the packages, which would be introduced in stages, would help to cushion the loan rejections of ... Read More

A proposed high-rise commercial development by Praicon Corporation Sdn. Bhd. in Butterworth, Penang. Strategically located along Jalan Chain Ferry, walking distance to Econsave Hypermarket, just a short drive to Harbour Place integrated development by PJD Group. This development will consist of a 27-storey commercial building with 154 units of service ... Read More