February 4, 2024 THE physical works for Phase One, also known as Priority 1, of the Gurney Bay project, have been completed and are now open to the public as of today. The Gurney Bay project, valued at RM247.8 million, is divided into two phases: Priority 1 and Priority 2. An aerial view of the Gurney Bay project (Priority One). Priority 1, covering 27.70 acres, includes various...

Sunday, 04 Feb 2024 | By LO TERN CHERN GEORGE TOWN: Phase one of the new Gurney Bay is now open to the public, following an announcement made by Penang Chief Minister Chow Kon Yeow. He made the announcement after accompanying Yang di-Pertua Negeri of Penang Tun Ahmad Fuzi Abdul Razak for a walkabout to tour the place on Sunday (Feb 4). "Works at Gurney Bay phase one have been declared...

Close to home: Singaporeans like Penang because of its similar language, food and culture, according to a property consultant. — ZHAFARAN NASIB/The Star Wednesday, 31 Jan 2024 | By IMRAN HILMY GEORGE TOWN: Like the tourism industry which gets a boost from the weak ringgit, the country’s property market, too, looks to be flourishing with higher demand, especially from foreign...

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Property News/26 January 2024 Equalbase, which specialises in sustainable commercial and industrial logistics developments in Asia, is investing RM300 million for its first carbon-neutral logistics complex in Valdor, Penang. Valdor I, spanning 4.6 hectares and over 600,000 square feet, will achieve over 50 per cent energy efficiency using Equalbase’s carbon-cured concrete, reducing carbon dioxide...

Courtyard by Marriott Penang opened its doors in 2020 and offers 199 hotel rooms and suites together with hotel facilities. (marriott.com) The disposal was arrived at a willing buyer-willing seller basis and will generate surplus cash of approximately RM80.8 million for Tropicana. EdgeProp January 26, 2024  PETALING JAYA (Jan 26): Tropicana Macalister Avenue (Penang) Sdn Bhd, a wholly-owned...

From left: Datuk Wira M Noor Azman Taib secretary general, Ministry Housing and Local Government; Nga Kor Ming, minister of Housing and Local Government, and TPr. Md Nazri Abdullah, PLANMalaysia deputy director-general (planning) at the launch of the Urban Renewal Implementation Guidelines. (Photo by KPKT Malaysia) The guidelines function as a strategic tool, inviting developers and relevant parties...

MIDF Research said relaxing requirements for the Malaysia My Second Home (MM2H) programme have been viewed positively as this should raise applications and property demand. Bernama January 05, 2024 | Updated 2 days ago KUALA LUMPUR (Jan 5): MIDF Research remains positive on the property sector with improving fundamentals and a lower residential overhang, easing concerns about an...

State housing and environment committee chairman Datuk Seri S.Sundarajoo said Penang has recorded an increase in the supply of affordable houses (RMM) by 154,685 units or 70.31 per cent at various stages from 2008 to December 31 last year. — Picture By Opalyn Mok Wednesday, 03 Jan 2024 9:33 PM MYT GEORGE TOWN, Jan 3 — Penang has recorded an increase in the supply of affordable houses (RMM)...

It saw over 100 million shares traded, indicating investors' avid interest in the company due to its huge land bank in Johor, which is seen as a hotspot for the property sector due to upcoming high-value transit developments such as the Johor-Bahru Singapore Rapid Transit System and the formation of the Johor-Singapore Special Economic Zone (SEZ) in the state. KUALA LUMPUR (Jan 4): UEM Sunrise Bhd,...

  The property sector stood out as the second best performing sector on Bursa Malaysia in 2023 as the KL Property Index recorded an impressive return of 34.5% — compared with FBM KLCI’s loss of 2.7% — amid correction of an earlier sector mispricing, sector recovery boosted by transient factors such as stronger earnings from accelerated billings; higher sales as there were more new products...

The project entails the construction and execution of main building works for a 45-storey structure, including a 38-storey serviced apartment block comprising 380 units, a two-storey basement carpark, and a five-storey elevated carpark. Choy Nyen Yiau / theedgemalaysia.com January 03, 2024 KUALA LUMPUR (Jan 3): Kerjaya Prospek Group Bhd has bagged a contract worth RM170.94 million from...

Fiabci Malaysia president Datuk Firdaus Musa said the MM2H programme's expansion to include individuals aged 30 and above, coupled with the exclusive processing through licensed MM2H agents, is viewed as a commendable move towards a more inclusive and efficient application process. KUALA LUMPUR (Dec 22): The comprehensive revision and transformative changes of the Malaysia My Second Home (MM2H)...

Friday, 22 Dec 2023 PETALING JAYA: A total of 2,164 applications were made for the Malaysia My 2nd Home (MM2H) programme from November 2021 to September 2023, says Datuk Seri Dr Wee Ka Siong. He said of that number, 1,905 applications have been approved and 259 rejected. "This is the reply I received on MM2H during the recent Dewan Rakyat sitting and would like to thank the Tourism, Arts and...

PROPERTY Wednesday, 27 Dec 2023 PETALING JAYA: Housing affordability remains a key concern among Malaysians, driven by a disparity between supply and demand particularly in residential properties priced below RM500,000 alongside sluggish income growth, says AmInvestment Bank Research. This was despite anticipation that the local property sector will likely improve next year underpinned by...

Chief Minister Chow Kon Yeow said the extension also sought to meet the state government’s target of providing 220,000 units of RMM to Penangites by 2030. BUTTERWORTH (Dec 23): The Penang state government has extended the Home Ownership Campaign (HOC) 3.0 from Jan 1 till Dec 31 next year as part of the efforts to promote the ownership of Affordable Homes (RMM) to the people. Chief Minister...

The precision engineering parts maker, which is currently operating in six factories across Penang and Kedah, said it is buying the land to consolidate its production operations in Penang into a single premise for enhanced efficiency and potential cost savings. KUALA LUMPUR (Dec 21): Foundpac Group Bhd has proposed to acquire a leasehold industrial land in Bayan Lepas, Penang, for RM41.88...

By MOHD FARHAAN SHAH JOHOR BARU: Johor’s property sector is expected to see an uptick in 2024 following the revamped Malaysia My Second Home (MM2H) programme, says the Real Estate and Housing Developers’ Association (Rehda). Its Johor chairman Wong Boon Lang said it would also benefit from other high-impact development projects in the state. He said property players were more optimistic...

A seafront development site named Island Bay Resort in the idyllic coastal area of Batu Ferringhi on Penang Island in Malaysia is for sale, with Colliers Hotels & Leisure and Henry Butcher Real Estate (Penang) Sdn Bhd as the joint exclusive marketing agents. Batu Ferringhi is renowned for its pristine sandy beaches, crystal clear waters and breathtaking sunsets. Over the years,...

KUALA LUMPUR: Sunway Real Estate Investment Trust is buying an industrial property located at Bukit Tengah Industrial Park in Penang from Best Corridor Venture Sdn Bhd for RM66.8 million. The acquisition is expected to yield an initial net property income (NPI) of about 7.6 per cent, with the potential leasehold extension premium considered, resulting in an NPI yield of 7.0 per...