KUALA LUMPUR (May 9): Property developer Kerjaya Prospek Property Bhd (KL:KPPROP) will jointly develop a piece of freehold land in Aspen Vision City, Batu Kawan, Penang into a mixed development that will include a hotel and serviced apartments. The land, which measures 221,198 sq feet and has a net book value of RM25.1 million, will be developed by a 70:30 special purpose vehicle (SPV) owned...
Sunday, 05 May 2024 First phase slated for completion by year-end GEORGE TOWN: Penang can soon boast of an Integrated Circuit (IC) Design and Digital Park by year-end. Chief Minister Chow Kon Yeow said the two-phase project in Bayan Lepas would be fully completed by 2027. It will further solidify Penang’s position as a preferred investment destination for businesses and entrepreneurs, he...
Penang Chief Minister Chow Kon Yeow, who presented the mock cheques to the recipients of the heritage building repair incentives today, said 47 recipients were selected out of 76 applications for Category I buildings. — Bernama pic Monday, 29 Apr 2024 GEORGE TOWN, April 29 — The Penang government is rolling out its federal-funded heritage conservation initiative with an initial allocation...
Updated: Apr 17 In an exciting development for Penang's hospitality landscape, Malaysia Trade and Transport (MTT) Co. Sdn. Bhd., a beloved related company of MTT Shipping Sdn. Bhd., has recently acquired the iconic Evergreen Laurel Hotel located in the heart of Penang's vibrant Gurney Bay. This strategic acquisition aligns seamlessly with the ongoing redevelopment of Gurney Bay's waterfront area,...
Tuesday, 16 Apr 2024 PETALING JAYA: More developers are turning optimistic on the local property market amid positive news flow on potential infrastructure projects, active land transactions and influx of investments. RHB Investment Bank noted that major developers – except for UEM Sunrise Bhd, Sime Darby Property Bhd and S P Setia Bhd – are guiding for sales targets that are 10% to 15% higher...
The Westin, Penang — Photo by Marriott The signing ceremony was graced by His Royal Highness, Tuanku Raja Muda of Perlis and Chairman of Westfield Global Sdn Bhd (centre) joined by Dato' Yeoh Yih Sean, Director of Westfield Global Sdn Bhd (on his left), Mr. Kevin Chen, Senior Vice President Hotel Development, Asia Pacific Marriott International (on his right) and witnessed by esteemed Directors from...
The Penang island (Bloomberg filepix) GEORGE TOWN (March 25): The Penang Development Corporation (PDC) will allocate RM5 billion to implement 15 high-impact projects under the 2024-2028 Strategic Plan, including RM3 billion to grow its landbank. PDC chief executive officer Datuk Aziz Bakar said the RM5 billion is expected to be spent in the next seven- to eight years and it...
Rehda president Datuk NK Tong Thursday, 14 Mar 2024 PETALING JAYA: Malaysian property prices are expected to continue increasing significantly for the first half of 2024 (1H 2024) due to challenges of rising cost of building materials, according to the Real Estate and Housing Developers’ Association (Rehda). Speaking about Rehda’s Property Industry Survey for 2H 2023 and Market...
A-Park Batu Kawan, which is spread across 20.5 acres, will offer a total of 50 units of 1½ and 2-storey semi-detached and detached factories. (Image by Ancubic) The warehouses will provide sufficient storage space that caters to the tenant’s logistics and inventory requirements, including storing raw materials, finished products or equipment. Priya Devan / theedgemalaysia.com March 11,...
MIDF Research said buying sentiment on properties is expected to remain healthy. Friday, 08 Mar 2024 PETALING JAYA: Analysts are optimistic about the outlook of the property market this year, on the back of stronger anticipated demand for properties and higher loan approvals. MIDF Research in a report said buying sentiment on properties is expected to remain healthy going forward, as...
The report attributes the expected growth in the country’s economy to cautious yet improving sentiment among property buyers and favourable government policies (Photo by Low Yen Yeing/The Edge) This article first appeared in City & Country, The Edge Malaysia Weekly on February 26, 2024 - March 3, 2024 Malaysia’s property market is expected to maintain a more stable...
Property Market 2023...
Finance Minister II Datuk Seri Amir Hamzah Azizan said the performance of completed unsold residential properties, or "overhang" had declined to 26,000 units with a value of RM17.7 billion. By S. BIRRUNTHA - March 6, 2024 KAJANG: Malaysia's real estate market saw more than 399,000 transactions totaling nearly RM200 billion in 2023, marking a 2.5 per cent increase in transaction...
KUALA LUMPUR (Feb 28): Buyout firm Affinity Equity Partners will start a bidding process in April for the sale of Penang-based Island Hospital, one of Malaysia’s largest healthcare providers, which is likely to fetch more than US$800 million (RM3.81 billion). Citing people familiar with the process, the Wall Street Journal (WSJ) on Monday reported that one of the people said foreign and...
Do you know that the income you receive from leasing out your properties is also taxable? Many mistakenly think that rental income is tax-free, consequently incurring penalties for under-reporting. EdgeProp February 22, 2024 We all know we need to pay taxes on the income we get from our vocations, be it as a hired worker, a gig worker or a self-employed businessman. However, do you know...
Lee was speaking at the United Overseas Bank’s (UOB) Secured Loans’ Chinese New Year gala dinner on Feb 20. Felicia TanTue, Feb 20, 2024 The housing market is expected to continue to stabilise in the coming year with a “significant” supply of new homes coming on stream, says Minister for National Development Desmond Lee. Lee is also the Minister-in-Charge of Social Services...
Penang Marriott Hotel has 223 guest rooms alongside a 24-hour fitness centre, steam room and infinity swimming pool with sun deck. METRO NEWS | Wednesday, 21 Feb 2024 AN international hotel chain has made its entry into Penang. The Penang Marriott Hotel, situated along the seafront location of Gurney Drive, promises breathtaking sea and city views in addition to its central location in...
Chow Kon Yeow,NSTP/MIKAIL ONG By Bernama - February 15, 2024 GEORGE TOWN: Penang Development Corporation (PDC) is developing three industrial parks in the state involving a total investment of RM3.2 billion, including for infrastructure development, in a bid to stimulate the industrial sector's growth. Chief Minister Chow Kon Yeow, who is also PDC chairman, said these industral...
The newly completed phase of Gurney Bay on reclaimed land may be complemented by a rail bridge over the Penang Channel for the LRT service to link the island to Butterworth. YouTube - SCM Southern Corridor Malaysia screen grab The new design may include a rail bridge across the channel Published on 13 Feb 2024 PENANG Chief Minister Chow Kon Yeow has acknowledged that there will likely be modifications...
Penang Chief Minister Chow Kon Yeow (second, right) shows the BKIP2 land which is now open for tender. — Picture by Opalyn Mok By Opalyn Mok Thursday, 15 Feb 2024 1:34 PM MYT GEORGE TOWN, Feb 15 — Penang Development Corporation (PDC) has called for a request for proposal (RFP) for the Batu Kawan Industrial Park 2 (BKIP2) land that was embroiled in a controversial land deal last...