GEORGE TOWN: Ivory Properties Group Berhad will develop the Bayan Mutiara mixed development project tendered out by the Penang Development Corp (PDC).
In a press release, its board of directors announced that the group had received and accepted the letter of acceptance from PDC on July 25.
“We received the letter for the proposal for purchase and development of 102.56 acres of land located in Bayan Mutiara of which 67.56acres are existing land and 35 acres are to be reclaimed for a proposed mixed development.
“The proposed project shall be subjected to the terms and conditions to be mutually agreed upon between the parties in an agreement to be entered into at a later date. Ivory will undertake to make the necessary announcements in due course.
“None of the directors or substantial shareholders of Ivory or persons connected with them has any interest, whether direct or indirect in the proposed project,” the statement said.
It was earlier reported that Ivory and SP Setia Bhd were bidding for the Bayan Mutiara mixed-development project via a request for proposal, which set the reserved price at about RM200 per sq ft.
Ivory won the project as it had submitted a higher bid to develop the site.
In a recent talk at the ninth Star Property Fair 2011, investPenang executive committee chairman Datuk Lee Kah Choon said the Bayan Mutiara mixed-development project would see the building of offices, special medical facilities, commercial blocks, residential enclaves, retail and public spaces.
Monday, 25 July 2011
A rousing success for ninth year
EXHIBITORS at the Star Property Fair 2011 in Penang enjoyed good response to their projects over the four-day event held at Level 2 of G Hotel and the ground floor of Gurney Plaza.
Ivory Properties Group Bhd assistant manager (corporate property) Michael Wong said they had a lot of enquiries over the first two days and began closing sales on the third day.
At press time yesterday, he said the company recorded about RM7.2mil in sales of its Moonlight Bay, The Peak Residences and Island Resort, and received enquiries and registration for The Latitude.
IJM Land Bhd senior sales and marketing manager Patsy Lee said the crowd was good and the company enjoyed good response at its booth over the four days.
“We have sold RM17mil of our Pearl Regency project and are also collecting registration for our other projects such as The Address and Permatang Sanctuary,” she said.
Eye-catching design: Visitors checking out a project of Mah Sing Group Berhad at G Hotel in Penang during the Star Propoerty Fair 2011
Belleview Group senior manager (sales administration) Anne Lee said the response was very encouraging and they received hundreds of enquiries, especially for their Winter Tower at All Seasons Park and three-storey terrace houses at Bukit Dumbar Residences.
“Many also went to check out our sales gallery after making enquiries at our booth,” she said, adding that they closed sales on the spot for the two projects by receiving booking fees.
The ninth Star Property Fair 2011, which ended yesterday, was touted as Penang’s premier property expo.
Organised by The Star in collaboration with Henry Butcher Malaysia (Penang) Sdn Bhd, the fair, in its ninth edition, featured 36 exhibitors.
Among them were DNP Land Sdn Bhd, Nusmetro Venture (Pg) Sdn Bhd, Sunway Grand Sdn Bhd, Mah Sing Group Bhd, MTT Properties and Development Sdn Bhd, Reka Indah Development (Pg) Sdn Bhd, Ideal Property Sdn Bhd, SP Setia and Boon Siew Group (BSG Property).
There were also Plenitude Heights Sdn Bhd, Triental Land Sdn Bhd, GD Development Sdn Bhd, Lone Pine Group of Companies, ResCom Asia Sdn Bhd, Capitawealth International Sdn Bhd, KPWG International Sdn Bhd, Tambun Indah Development Sdn Bhd, Bukit Kiara Properties Sdn Bhd, E&O Bhd and Jalin Realty.
Henry Butcher also featured projects by Magna Putih Sdn Bhd and several property in Australia and England by various developers.
While most people would love to have their own landed property, there are many others who opt for apartments. Among them was university lecturer Rosli Saad, 51, who was visiting the fair for the first time with his daughter Athirah, 12.
“We’re looking for an apartment on Penang island. I don’t like landed property. The main reason I prefer apartments is because there is better security, with only one entrance to the whole place. And it’s easier to maintain an apartment unit without having to worry about the compound and all that,” said Rosli.
Dr R. Sentil and Dr S. Karthik, both 27, were seen checking out the Meridien Residence project in Sungai Ara by Reka Indah Development (Pg) Sdn Bhd.
“We read about the fair and wanted to check it out. The property market in Penang is good and we are looking for either a place to stay or to invest in.
“Looking around, we find that some of the property have sold out,” said Dr Sentil.
Dr Karthik said he preferred to live further from town, “away from the hustle and bustle”, although he would probably have to brave the traffic jam to go home.
Many visitors also attended the various talks held over the duration of the fair. The talks were, among others, related to property, investment, financing, law, heritage and feng shui. There was also an exhibition of restored heritage buildings carried out by George Town World Heritage Inc.
A popular feature of the fair was the ‘Surf, Click & Win’ contest sponsored by IJM Land where visitors stood a chance to win prizes totalling RM30,000, including a 32” Samsung LCD television, Acer Iconia Tabs, Samsung Galaxy Tabs and Parkson vouchers daily.
Visitors also got to redeem mystery gifts, on a first-come-first-served basis, with cut-out coupons printed in The Star over the four days. Hong Leong Bank Bhd sponsored RM5,000 worth of mystery gifts.
By TheStar
Ivory Properties Group Bhd assistant manager (corporate property) Michael Wong said they had a lot of enquiries over the first two days and began closing sales on the third day.
At press time yesterday, he said the company recorded about RM7.2mil in sales of its Moonlight Bay, The Peak Residences and Island Resort, and received enquiries and registration for The Latitude.
IJM Land Bhd senior sales and marketing manager Patsy Lee said the crowd was good and the company enjoyed good response at its booth over the four days.
“We have sold RM17mil of our Pearl Regency project and are also collecting registration for our other projects such as The Address and Permatang Sanctuary,” she said.
Eye-catching design: Visitors checking out a project of Mah Sing Group Berhad at G Hotel in Penang during the Star Propoerty Fair 2011
Belleview Group senior manager (sales administration) Anne Lee said the response was very encouraging and they received hundreds of enquiries, especially for their Winter Tower at All Seasons Park and three-storey terrace houses at Bukit Dumbar Residences.
“Many also went to check out our sales gallery after making enquiries at our booth,” she said, adding that they closed sales on the spot for the two projects by receiving booking fees.
The ninth Star Property Fair 2011, which ended yesterday, was touted as Penang’s premier property expo.
Organised by The Star in collaboration with Henry Butcher Malaysia (Penang) Sdn Bhd, the fair, in its ninth edition, featured 36 exhibitors.
Among them were DNP Land Sdn Bhd, Nusmetro Venture (Pg) Sdn Bhd, Sunway Grand Sdn Bhd, Mah Sing Group Bhd, MTT Properties and Development Sdn Bhd, Reka Indah Development (Pg) Sdn Bhd, Ideal Property Sdn Bhd, SP Setia and Boon Siew Group (BSG Property).
There were also Plenitude Heights Sdn Bhd, Triental Land Sdn Bhd, GD Development Sdn Bhd, Lone Pine Group of Companies, ResCom Asia Sdn Bhd, Capitawealth International Sdn Bhd, KPWG International Sdn Bhd, Tambun Indah Development Sdn Bhd, Bukit Kiara Properties Sdn Bhd, E&O Bhd and Jalin Realty.
Henry Butcher also featured projects by Magna Putih Sdn Bhd and several property in Australia and England by various developers.
While most people would love to have their own landed property, there are many others who opt for apartments. Among them was university lecturer Rosli Saad, 51, who was visiting the fair for the first time with his daughter Athirah, 12.
“We’re looking for an apartment on Penang island. I don’t like landed property. The main reason I prefer apartments is because there is better security, with only one entrance to the whole place. And it’s easier to maintain an apartment unit without having to worry about the compound and all that,” said Rosli.
Dr R. Sentil and Dr S. Karthik, both 27, were seen checking out the Meridien Residence project in Sungai Ara by Reka Indah Development (Pg) Sdn Bhd.
“We read about the fair and wanted to check it out. The property market in Penang is good and we are looking for either a place to stay or to invest in.
“Looking around, we find that some of the property have sold out,” said Dr Sentil.
Dr Karthik said he preferred to live further from town, “away from the hustle and bustle”, although he would probably have to brave the traffic jam to go home.
Many visitors also attended the various talks held over the duration of the fair. The talks were, among others, related to property, investment, financing, law, heritage and feng shui. There was also an exhibition of restored heritage buildings carried out by George Town World Heritage Inc.
A popular feature of the fair was the ‘Surf, Click & Win’ contest sponsored by IJM Land where visitors stood a chance to win prizes totalling RM30,000, including a 32” Samsung LCD television, Acer Iconia Tabs, Samsung Galaxy Tabs and Parkson vouchers daily.
Visitors also got to redeem mystery gifts, on a first-come-first-served basis, with cut-out coupons printed in The Star over the four days. Hong Leong Bank Bhd sponsored RM5,000 worth of mystery gifts.
By TheStar
Two Hot Areas In Penang
BAYAN Lepas and Batu Maung in Penang’s southwest district and Batu Kawan in the south Seberang Prai district will be the new corridors of growth to boost the state’s development, said investPenang executive committee chairman Datuk Lee Kah Choon.
He said projects coming up at these places were the RM300mil Subterranean Penang International Convention and Exhibition Centre (sPICE), the Bayan Mutiara mixed-development project and Batu Kawan’s planned development as an integrated city.
“sPICE, under a public-private partnership agreement with SP Setia Bhd, will have a Penang People’s Park that includes the country’s first subterranean convention and exhibition centre,” he said in his talk titled ‘Live Market Update — What is the future for Penang’ at the Star Property Fair 2011.
“There will also be a seven-acre public park on the rooftop, a refurbished Penang International Sports Arena, an aquatic centre and a four-star hotel with retail outlets.
“The project is scheduled for completion by 2014.”
Big plans for the state: The audience listening to Lee during his talk on the future development of Penang
“The Bayan Mutiara mixed-development project on a 40ha site will see the creation of presti-gious offices, special medical fa- cilities, commercial blocks, resi-dential enclaves, and retail and public spaces meeting contemporary and iconic global standards,” Lee said.
He said the planned development of Batu Kawan included the next Penang industrial park.
“The plan is to turn Batu Kawan into an integrated city with residential, commercial and business zones incorporating education, leisure and medical facilities.
“These developments will create new jobs and spillover economic effects,” he said.
Lee also said recent investments by Bosch Solar Energy, Aviatron and Ibiden would generate new jobs for small-medium vendors in Penang.
“Last month, Bosch announced a RM2.2b investment in a crystalline solar cells plant in Batu Kawan.
“Aviatron and Ibiden announced their investments in avionics components and a printed circuit board facility respectively in April,” he said.
By TheStar
He said projects coming up at these places were the RM300mil Subterranean Penang International Convention and Exhibition Centre (sPICE), the Bayan Mutiara mixed-development project and Batu Kawan’s planned development as an integrated city.
“sPICE, under a public-private partnership agreement with SP Setia Bhd, will have a Penang People’s Park that includes the country’s first subterranean convention and exhibition centre,” he said in his talk titled ‘Live Market Update — What is the future for Penang’ at the Star Property Fair 2011.
“There will also be a seven-acre public park on the rooftop, a refurbished Penang International Sports Arena, an aquatic centre and a four-star hotel with retail outlets.
“The project is scheduled for completion by 2014.”
Big plans for the state: The audience listening to Lee during his talk on the future development of Penang
“The Bayan Mutiara mixed-development project on a 40ha site will see the creation of presti-gious offices, special medical fa- cilities, commercial blocks, resi-dential enclaves, and retail and public spaces meeting contemporary and iconic global standards,” Lee said.
He said the planned development of Batu Kawan included the next Penang industrial park.
“The plan is to turn Batu Kawan into an integrated city with residential, commercial and business zones incorporating education, leisure and medical facilities.
“These developments will create new jobs and spillover economic effects,” he said.
Lee also said recent investments by Bosch Solar Energy, Aviatron and Ibiden would generate new jobs for small-medium vendors in Penang.
“Last month, Bosch announced a RM2.2b investment in a crystalline solar cells plant in Batu Kawan.
“Aviatron and Ibiden announced their investments in avionics components and a printed circuit board facility respectively in April,” he said.
By TheStar
Great Demand For Penang Landed Homes
LANDED homes in Penang are still in great demand despite their high prices.
SP Setia Bhd’s sales and marketing executive Eunice Lee said many people were eyeing landed property due to expected limited and costlier supply in future.“We have sales every day for our Setia Greens and Setia Pearl Island projects comprising terrace and semi-detached and villa units,” she said.
She said the number of visitors to the fair had been “fantastic”, especially during the weekend.
BSG Property’s sales and marketing executive Chong Hock Aun said the company was getting more enquiries on the landed segment as visitors felt that such pro- perty were likely to be more expensive if they did not buy them now.
Strategically located: Lee (left) showing B.C Lok, his wife and daughter the units of a project available at the SP Setia booth
Chong said there seemed to be more young couples who visited the fair during the weekend while older folk were the bigger crowd on the first two days.
Ideal Homes Properties Sdn Bhd sales and marketing manager Teh Yeow Jin said many visitors preferred landed property but their prices were generally out of reach.
“Take for example a landed property in Batu Maung. It could easily cost between RM700,000 and RM800,000,” he said.
The fair was an eye-opening experience for the director of Australian real estate agent Uniq Property, a first-time exhibitor at the event.
“We received enquiries from some 200 qualified buyers throughout the event for all four apartment projects in Melbourne showcased by us. Many of them had children studying in Australia or holders of permanent residence status there,” said Veki Brdjanin, adding that they sold two units of apartments.
By TheStar
SP Setia Bhd’s sales and marketing executive Eunice Lee said many people were eyeing landed property due to expected limited and costlier supply in future.“We have sales every day for our Setia Greens and Setia Pearl Island projects comprising terrace and semi-detached and villa units,” she said.
She said the number of visitors to the fair had been “fantastic”, especially during the weekend.
BSG Property’s sales and marketing executive Chong Hock Aun said the company was getting more enquiries on the landed segment as visitors felt that such pro- perty were likely to be more expensive if they did not buy them now.
Strategically located: Lee (left) showing B.C Lok, his wife and daughter the units of a project available at the SP Setia booth
Chong said there seemed to be more young couples who visited the fair during the weekend while older folk were the bigger crowd on the first two days.
Ideal Homes Properties Sdn Bhd sales and marketing manager Teh Yeow Jin said many visitors preferred landed property but their prices were generally out of reach.
“Take for example a landed property in Batu Maung. It could easily cost between RM700,000 and RM800,000,” he said.
The fair was an eye-opening experience for the director of Australian real estate agent Uniq Property, a first-time exhibitor at the event.
“We received enquiries from some 200 qualified buyers throughout the event for all four apartment projects in Melbourne showcased by us. Many of them had children studying in Australia or holders of permanent residence status there,” said Veki Brdjanin, adding that they sold two units of apartments.
By TheStar
Tuesday, 19 July 2011
Set for value appreciation
Cool design: An artist's impression of Permatang Sanctuary in Bukit Mertajam, one of IJM's projects.
FUTURE residents of the Pearl Regency Condominium can look forward to a luxurious and cosmopolitan sky-high lifestyle when IJM Land Bhd’s iconic development at the MetroEast Udini is completed at the end of 2013.
Located on a 2.78-acre parcel of land and a stone’s throw away from Tesco and e-Gate along the coastal highway, the 35-storey freehold mixed-development project comprises residential and commercial components with a gross sales value of RM244mil.
Its residential units, in 10 different layouts ranging in size from 1,313sq ft to 2,131sq ft and priced between RM734,000 and RM1.4mil, have been well received thus far. Currently, only limited units are still available.
According to IJM Land northern region general manager Toh Chin Leong, 15% of those already taken up are from foreign buyers, testament to the project’s centralised location, innovative design and luxurious finishing.
A gem: Toh showing off a model of the company's Pearl Regency Condominium.
“For today’s lifestyle, people also like to live close to amenities such as supermarkets, F&B and retail outlets, and our location makes it very convenient for them.
“Most places on Penang island are also within easy reach, while the Penang Bridge and the mainland is also nearby,” he said.
All units come semi-furnished with quality fittings — from air- conditioners to kitchen cabinets, ovens, refrigerators, gas hob and hoods, water heaters and wardrobes — that saves residents the headache of hunting for furniture later on.
A comprehensive set of facilities ensures that residents will always have a haven where they can return to. These include a swimming pool, Jacuzzi and pool bar, children’s playground, barbeque pit, gymnasium, reflexology path, putting greens, games room, reading room and community hall.
One is also in touch with nature, with a maze and sky gardens adding a touch of lush greenery. Otherwise, one can simply admire gorgeous panoramas of the channel from the viewing deck.
“On top of that, units have unobstructed views of the sea,” Toh added.
Toh believes that with their nearby The Light waterfront development poised to be a small city in itself and change the entire skyline, it will have positive knock-on effects for the entire area, especially in terms of value appreciation.
“For most of our projects, from the day they’re launched till the day we hand over the keys, we’ve seen appreciation of easily between 30% and 50%.
“Together with our excellent after sales service, buyers have great confidence in our projects,” he said.
As land on the island is scarce and prices of materials on an upwardly trend, in addition to Penang become more well-known internationally, he is optimistic about market prospects and advises prospective home owners to take the plunge once they’ve found something that fits their budget and location needs.
Patsy Lee, the senior manager of sales and marketing, added that specially for the four-day Star Property Fair, the company is offering zero-interest during construction, and free legal fees on sales and purchase agreement and loan. Buyers also get a free utility room averaging 40sq ft, located at the basement, for convenient storage purposes.
Also, the commercial component of Pearl Regency is set to be launched in the fourth quarter of the year, with a GSV of RM80mil. It comprises 76 lots ranging in size from 377sq ft to 2,852sq ft and priced from RM310,000 to RM2.2mil.
Upcoming projects targeted to launch by year-end are The Address at Bukit Jambul comprising low density Boutique Condos and four-storey Duplex Loft, and Permatang Sanctuary at Bukit Mertajam, a 131-acre township, with seven phases and four themed parks.
IJM Land is also sponsoring RM30,000 worth of prizes for the ‘Surf, Click & Win’ contest at the Star Property Fair.
Touted as Penang’s premier property expo, the fair’s ninth edition will be held at Gurney Plaza and the adjoining G Hotel from July 21 to 24.
To date, 28 major developers — representing almost all the big boys in the industry — along with several financial institutions, have taken up booths in the fair.
The fair, to be open to the public from 10am to 10pm daily, is organised by The Star in collaboration with Henry Butcher Malaysia (Penang) Sdn Bhd. Admission is free.
By TheStar
Monday, 11 July 2011
THE 24km-long second Penang bridge is 54% completed
THE 24km-long second Penang bridge is 54% completed and it is on track to be completed by Nov, 2013, said former Prime Minister Tun Abdullah Ahmad Badawi.
He said this assurance was given by the host of contractors involved in constructing the super structure linking Batu Maung on the island to Batu Kawan in Seberang Prai.
Abdullah also said that the project would also incorporate a uniquely designed technology known as High Damping Rubber Bearing (HDRB).
The RM4.5bil project is the first to use the HDRB technology which is designed to withstand the effects of earthquakes.
Super structure: Abdullah on a boat passing under the half-completed second Bridge at Batu Maung on the island “HDRB is an innovative tool to protect not only the structure but also the materials and contents inside the structure,” Abdullah said.
“This feature is useful for critical structures as it can stand the test of time.
“I an also proud that the HRDB is designed by a Malaysian and like all Penangites, I am eagerly awaiting the completion of the bridge.
Project on track: Part of the ongoing construction work at the second Penang bridge linking Batu Maung on Penang Island to Batu Kawan in Seberang Perai “The bridge will definitely be breathtaking,” he said.
He was speaking after attending a briefing session on the bridge’s progress work at the China Harbour Engineering Co Ltd (CHEC) (M) Sdn Bhd office in Batu Maung yes-terday.
Present was Jambatan Kedua Sdn Bhd managing director Datuk Dr Ismail Mohamed Taib.
Abdullah also expressed satisfaction with the progress of the construction which comprised five packages. including the RM2.2bil substructure by China-based CHEC and the RM1.5bil superstructure by Malaysia’s own UEM Builders Bhd.
The three main contractors for overland connections are Cergas Murni Sdn Bhd (for the RM67mil Batu Maung link), IJM Corp Bhd (RM350mil Batu Kawan link) and HRA Teguh Sdn Bhd (RM152mil link to North-South Highway).
The bridge is set to be the longest in South-East Asia
By The Star
He said this assurance was given by the host of contractors involved in constructing the super structure linking Batu Maung on the island to Batu Kawan in Seberang Prai.
Abdullah also said that the project would also incorporate a uniquely designed technology known as High Damping Rubber Bearing (HDRB).
The RM4.5bil project is the first to use the HDRB technology which is designed to withstand the effects of earthquakes.
Super structure: Abdullah on a boat passing under the half-completed second Bridge at Batu Maung on the island “This feature is useful for critical structures as it can stand the test of time.
“I an also proud that the HRDB is designed by a Malaysian and like all Penangites, I am eagerly awaiting the completion of the bridge.
Project on track: Part of the ongoing construction work at the second Penang bridge linking Batu Maung on Penang Island to Batu Kawan in Seberang Perai He was speaking after attending a briefing session on the bridge’s progress work at the China Harbour Engineering Co Ltd (CHEC) (M) Sdn Bhd office in Batu Maung yes-terday.
Present was Jambatan Kedua Sdn Bhd managing director Datuk Dr Ismail Mohamed Taib.
Abdullah also expressed satisfaction with the progress of the construction which comprised five packages. including the RM2.2bil substructure by China-based CHEC and the RM1.5bil superstructure by Malaysia’s own UEM Builders Bhd.
The three main contractors for overland connections are Cergas Murni Sdn Bhd (for the RM67mil Batu Maung link), IJM Corp Bhd (RM350mil Batu Kawan link) and HRA Teguh Sdn Bhd (RM152mil link to North-South Highway).
The bridge is set to be the longest in South-East Asia
By The Star
Saturday, 9 July 2011
Developers try to ease property concerns in Penang
THE Star regional operations manager (north) Chung Chok Yin and Henry ButcherMalaysia(Penang) Sdn Bhd director Dr Teoh Poh Huat recently met up with developers to ascertain the impact of a slower GDP forecast for 2011, rising interest rates, and escalating property prices amidst global challenges on the direction of the Penang property market.
Chung and Teoh moderated The Star Property Fair 2011 Round table discussion held at the Star Northern Hub on July 5.
Nazir: Penang developers are now more organised.
The panel lists included DNP Land Sdn Bhd (northern region) general manager K.C. Tan, IJM Properties Sdn Bhd general manager (north) Toh Chin Leong, Ivory Properties Group Bhd deputy chairman and executive director Datuk Seri Nazir Ariff,Lone Pine Group of Companies general manager Mabel Ooi, SP Setia Bhd (north) general manager S. Rajoo, Mah Sing Group Bhd general manager (northern region) Low Eng Hooi, Sunway City Bhd general manager Tan Hun Beng, and Real Estate Housing Developers' Association (Penang) chairman Datuk Jerry Chan.
The roundtable talk was a prelude to the ninth Star Property Fair 2011 in Penang that will be held at Gurney Plaza and the adjoining G Hotel fromJuly 21 to July 24.
The fair is organised byThe Starin collaboration with Henry Butcher Malaysia(Penang) Sdn Bhd.
The following are excerpts of the discussion:
StarBizWeek: How do you perceive the property market outlook in Penang for 2011 and next year?
Chan: The outlook is stable. Landed properties with unique concepts will see appreciation. The demand is still there. It's just that people will be more discerning in their decision making when it comes to the high-end high rise developments.
At the roundt able are: (from left) Dr Teoh, Chan, IJM Properties’ Toh, SP Setia’s Rajoo and Sunway’s Tan.
Should steps be taken to ensure Malaysian owners still retain ownership of heritage properties in the core and buffer heritage zone?
Nazir: That's going to be difficult. That is disturbing the market. How many foreign people own heritage properties now? Some might have foreign names but they may be locals.
Will the property market in Penang experience phenomenal growth as it did last year?
Rajoo: As long as there is expansion, there is going to be ample job opportunities. More people will enter the job market and they will need homes. We expect a good year.
Toh: There is fear that if you don't buy property now, you can never afford it again in the future. The interest rate is increasing, and the price of oil, materials, land, and compliance costs are going up also. These are driving people to keep buying houses now.
Low: Buyers expect different concepts, innovation and designs.
K.C. Tan: The mainland and island are now better connected in terms of distance, and accessibility, which will be further enhanced with the completion of the second bridge.
We can expect a shift in the property market towards Batu Kawan, especially when the second bridge and the Electrified Double Track Project (EDTP) connecting Ipoh and Padang Besar are completed.
The trend appears to be less focused on super-condominium lifestyle living, according to a recent report. What do you feel about this?
Ooi: That is what we hear from the locals. The trend is to go for smaller units. I would say there is still a demand for big units, as there are buyers attracted by unique concepts.
Purchasers of our 1 Tanjong beachfront-condominium project in Tanjung Bungah intend to stay there.
In future, the supply of this type of properties along certain stretches will be limited.
How will developers strategise to promote their properties this year in view of the slower economic growth locally and globally?
Nazir: Penang developers are now more organised. Developers like IJM, SP Setia and Mah Sing have set benchmarks that we local developers have followed.
They have given Penang companies competition and a challenge, and you can see better designs in houses and apartments in Penang because of that.
Has Mah Sing made the right move to enter the Penang property market?
Low: The local market, particularly in Batu Maung, has accepted the new concept. Buyers expect different concepts, innovation and designs. They buy into the lifestyle aspect, and they are willing to pay more for it.
All these factors will steer the property market and make it just as favourable if not more favourable than the outlook this year.
By TheStar
Chung and Teoh moderated The Star Property Fair 2011 Round table discussion held at the Star Northern Hub on July 5.
Nazir: Penang developers are now more organised.
The panel lists included DNP Land Sdn Bhd (northern region) general manager K.C. Tan, IJM Properties Sdn Bhd general manager (north) Toh Chin Leong, Ivory Properties Group Bhd deputy chairman and executive director Datuk Seri Nazir Ariff,Lone Pine Group of Companies general manager Mabel Ooi, SP Setia Bhd (north) general manager S. Rajoo, Mah Sing Group Bhd general manager (northern region) Low Eng Hooi, Sunway City Bhd general manager Tan Hun Beng, and Real Estate Housing Developers' Association (Penang) chairman Datuk Jerry Chan.
The roundtable talk was a prelude to the ninth Star Property Fair 2011 in Penang that will be held at Gurney Plaza and the adjoining G Hotel fromJuly 21 to July 24.
The fair is organised byThe Starin collaboration with Henry Butcher Malaysia(Penang) Sdn Bhd.
The following are excerpts of the discussion:
StarBizWeek: How do you perceive the property market outlook in Penang for 2011 and next year?
Chan: The outlook is stable. Landed properties with unique concepts will see appreciation. The demand is still there. It's just that people will be more discerning in their decision making when it comes to the high-end high rise developments.
At the roundt able are: (from left) Dr Teoh, Chan, IJM Properties’ Toh, SP Setia’s Rajoo and Sunway’s Tan.
Should steps be taken to ensure Malaysian owners still retain ownership of heritage properties in the core and buffer heritage zone?
Nazir: That's going to be difficult. That is disturbing the market. How many foreign people own heritage properties now? Some might have foreign names but they may be locals.
Will the property market in Penang experience phenomenal growth as it did last year?
Rajoo: As long as there is expansion, there is going to be ample job opportunities. More people will enter the job market and they will need homes. We expect a good year.
Toh: There is fear that if you don't buy property now, you can never afford it again in the future. The interest rate is increasing, and the price of oil, materials, land, and compliance costs are going up also. These are driving people to keep buying houses now.
Low: Buyers expect different concepts, innovation and designs.
K.C. Tan: The mainland and island are now better connected in terms of distance, and accessibility, which will be further enhanced with the completion of the second bridge.
We can expect a shift in the property market towards Batu Kawan, especially when the second bridge and the Electrified Double Track Project (EDTP) connecting Ipoh and Padang Besar are completed.
The trend appears to be less focused on super-condominium lifestyle living, according to a recent report. What do you feel about this?
Ooi: That is what we hear from the locals. The trend is to go for smaller units. I would say there is still a demand for big units, as there are buyers attracted by unique concepts.
Purchasers of our 1 Tanjong beachfront-condominium project in Tanjung Bungah intend to stay there.
In future, the supply of this type of properties along certain stretches will be limited.
How will developers strategise to promote their properties this year in view of the slower economic growth locally and globally?
Nazir: Penang developers are now more organised. Developers like IJM, SP Setia and Mah Sing have set benchmarks that we local developers have followed.
They have given Penang companies competition and a challenge, and you can see better designs in houses and apartments in Penang because of that.
Has Mah Sing made the right move to enter the Penang property market?
Low: The local market, particularly in Batu Maung, has accepted the new concept. Buyers expect different concepts, innovation and designs. They buy into the lifestyle aspect, and they are willing to pay more for it.
All these factors will steer the property market and make it just as favourable if not more favourable than the outlook this year.
By TheStar
Redefining town lifestyle
THE Meridien Residence in Penang offers much needed relief for those looking for a sanctuary away from the hustle and bustle of modern living.
Under Reka Indah Development, the Meridien Residence was designed with a low-density concept – 160 units only.
Located in Sungai Ara, the project consists of a 30-storey single exclusive block.
Room to breathe: The spacious living room of a Meridien condo unit
Every unit, which range from 1,260sq ft to 1,916sq ft, features an open air concept balcony to let in the breezy air and natural light.
The all-inclusive tower offers residents full condo facilities such as an infinity pool, indoor gymnasium, community hall, jogging track and more.
All units also come with two covered parking spaces.
Buyers can also check out the landed three-storey semi-detached houses — only four units available. Each features a porch that can accommodate three cars.
The houses have a spacious built-up area of 3,911sq ft and are built on a 35ft by 85ft land area. A passenger lift is also installed in each unit.
The Meridien Residence is situated near Setia Pearl Golf & Country Club and is mere minutes away from the Penang Bridge, township of Bayan Baru and the Penang Interna-tional Airport.
Another upcoming project of Reka Indah Development is Boulevard Condominium in Air Itam. It consists of two towers of 37 and 38 storeys. The built-up area of the condo units ranges from 936sq ft to 2,325sq ft.
Located at the junction of Lorong Batu Lanchang and Lebuhraya Thean Teik, the condominium is just 10 minutes’ drive from the Penang Bridge and Tesco Hypermarket, 15 minutes’ drive to George Town and 25 minutes’ drive from the Penang International Airport.
Condominium residents can use a list of facilities including an infinity pool, Jacuzzi, indoor gymnasium, centralised Astro signal and two covered car parks.
Touted as Penang’s premier property expo, the fair’s ninth edition will be held at Gurney Plaza and the adjoining G Hotel from July 21 to July 24.
To date, 28 major developers — representing almost all the big boys in the industry — along with several financial institutions, have taken up booths in the fair.
The RM30,000 worth of prizes for the ‘Surf, Click & Win’ contest are sponsored by IJM Land.
The fair, which will be open to the public from 10am to 10pm daily, is organised by The Star in collaboration with Henry Butcher Malaysia (Penang) Sdn Bhd. Admission is free.
For enquiries, call 04-6473388 ext 3357 (Shirmein) or ext 3418 (Bessie).
By TheStar
Under Reka Indah Development, the Meridien Residence was designed with a low-density concept – 160 units only.
Located in Sungai Ara, the project consists of a 30-storey single exclusive block.
Room to breathe: The spacious living room of a Meridien condo unit
Every unit, which range from 1,260sq ft to 1,916sq ft, features an open air concept balcony to let in the breezy air and natural light.
The all-inclusive tower offers residents full condo facilities such as an infinity pool, indoor gymnasium, community hall, jogging track and more.
All units also come with two covered parking spaces.
Buyers can also check out the landed three-storey semi-detached houses — only four units available. Each features a porch that can accommodate three cars.
The houses have a spacious built-up area of 3,911sq ft and are built on a 35ft by 85ft land area. A passenger lift is also installed in each unit.
The Meridien Residence is situated near Setia Pearl Golf & Country Club and is mere minutes away from the Penang Bridge, township of Bayan Baru and the Penang Interna-tional Airport.
Another upcoming project of Reka Indah Development is Boulevard Condominium in Air Itam. It consists of two towers of 37 and 38 storeys. The built-up area of the condo units ranges from 936sq ft to 2,325sq ft.
Located at the junction of Lorong Batu Lanchang and Lebuhraya Thean Teik, the condominium is just 10 minutes’ drive from the Penang Bridge and Tesco Hypermarket, 15 minutes’ drive to George Town and 25 minutes’ drive from the Penang International Airport.
Condominium residents can use a list of facilities including an infinity pool, Jacuzzi, indoor gymnasium, centralised Astro signal and two covered car parks.
Touted as Penang’s premier property expo, the fair’s ninth edition will be held at Gurney Plaza and the adjoining G Hotel from July 21 to July 24.
To date, 28 major developers — representing almost all the big boys in the industry — along with several financial institutions, have taken up booths in the fair.
The RM30,000 worth of prizes for the ‘Surf, Click & Win’ contest are sponsored by IJM Land.
The fair, which will be open to the public from 10am to 10pm daily, is organised by The Star in collaboration with Henry Butcher Malaysia (Penang) Sdn Bhd. Admission is free.
For enquiries, call 04-6473388 ext 3357 (Shirmein) or ext 3418 (Bessie).
By TheStar
Wednesday, 6 July 2011
In the isle of dreams
SURROUNDED by lush greenery and blooming aromatic flowers that is bound to capture an oasis of peace and serenity, the development of the Setia Pearl Island will definitely be many property buyers’ cup of tea.
Dubbed the Island of Dreams, the project is akin to a tropical island of dreams with magnificent homes and well-designed landscapes, sprawling across 45.56ha (112.6 acres) of the former Pearl Island Country Club in Sungai Ara, Penang.
Property buyers would be spoilt for choice as the project is being touted for its six distinctive isles, namely, the Isle of Life, Isle of Aroma, Isle of Palm, Isle of Connifer, Isle of Discovery and Isle of Views, each with its own special characteristics and landscaping theme which would fulfil both the buyers’ wants and needs.
In the making: SP Setia Berhad Group, Property Division (north) general manager S Rajoo (left) and Sales and Marketing, Property Division (north) manager Yeoh Chee Beng showing a Setia Pearil Island model house
Among the six isles, the Isle of Connifer — featuring three-storey link houses, semi-detached homes and the four-storey villas, which is better known as the Pearl Villa — stands out.
With only 35 units available, the Pearl Villa is the cream of the crop as it boasts a swimming pool as well as lift in the four-storey luxury villas.
With a built-up area of 6,577sq ft and a price range starting from RM2.98 million, the villa is definitely a master class development.
The Setia Pearl Island is in a perfect location as it is well located at the heart of modern conveniences linked to a network of roads, bridges and expressways.
The Tun Dr Lim Chong Eu Expressway, Penang Bridge and the upcoming second bridge link from Batu Maung to Batu Kawan will enable easy access to the four corners of the island and mainland.
Meanwhile, landmarks such as the Penang International Airport, Free Industrial Zone, Penang International Sports Arena, shopping complexes, colleges and many more are just a stone’s throw away from Setia Pearl Island.
Apart from that, the architectural design of the project emphasises a relaxing and comfortable lifestyle with green surroundings.
Also available for buyers are clubhouse facilities such as swimming pool, tennis court, ballroom, outdoor jacuzzi and many more.
Touted as Penang’s premier property expo, the fair’s ninth edition will be held at Gurney Plaza and the adjoining G Hotel from July 21 to July 24.
To date, 28 major developers — representing almost all the big boys in the industry — along with several financial institutions, have taken up booths in the fair.
The RM30,000 worth of prizes for the ‘Surf, Click & Win’ contest are sponsored by IJM Land.
The fair, which is open to the public from 10am to 10pm daily, is organised by The Star in collaboration with Henry Butcher Penang. Admission is free.
For enquiries, call 04-6473388 ext 3357 (Shirmein) or ext 3418 (Bessie).
By TheStar
Dubbed the Island of Dreams, the project is akin to a tropical island of dreams with magnificent homes and well-designed landscapes, sprawling across 45.56ha (112.6 acres) of the former Pearl Island Country Club in Sungai Ara, Penang.
Property buyers would be spoilt for choice as the project is being touted for its six distinctive isles, namely, the Isle of Life, Isle of Aroma, Isle of Palm, Isle of Connifer, Isle of Discovery and Isle of Views, each with its own special characteristics and landscaping theme which would fulfil both the buyers’ wants and needs.
In the making: SP Setia Berhad Group, Property Division (north) general manager S Rajoo (left) and Sales and Marketing, Property Division (north) manager Yeoh Chee Beng showing a Setia Pearil Island model house
Among the six isles, the Isle of Connifer — featuring three-storey link houses, semi-detached homes and the four-storey villas, which is better known as the Pearl Villa — stands out.
With only 35 units available, the Pearl Villa is the cream of the crop as it boasts a swimming pool as well as lift in the four-storey luxury villas.
With a built-up area of 6,577sq ft and a price range starting from RM2.98 million, the villa is definitely a master class development.
The Setia Pearl Island is in a perfect location as it is well located at the heart of modern conveniences linked to a network of roads, bridges and expressways.
The Tun Dr Lim Chong Eu Expressway, Penang Bridge and the upcoming second bridge link from Batu Maung to Batu Kawan will enable easy access to the four corners of the island and mainland.
Meanwhile, landmarks such as the Penang International Airport, Free Industrial Zone, Penang International Sports Arena, shopping complexes, colleges and many more are just a stone’s throw away from Setia Pearl Island.
Apart from that, the architectural design of the project emphasises a relaxing and comfortable lifestyle with green surroundings.
Also available for buyers are clubhouse facilities such as swimming pool, tennis court, ballroom, outdoor jacuzzi and many more.
Touted as Penang’s premier property expo, the fair’s ninth edition will be held at Gurney Plaza and the adjoining G Hotel from July 21 to July 24.
To date, 28 major developers — representing almost all the big boys in the industry — along with several financial institutions, have taken up booths in the fair.
The RM30,000 worth of prizes for the ‘Surf, Click & Win’ contest are sponsored by IJM Land.
The fair, which is open to the public from 10am to 10pm daily, is organised by The Star in collaboration with Henry Butcher Penang. Admission is free.
For enquiries, call 04-6473388 ext 3357 (Shirmein) or ext 3418 (Bessie).
By TheStar
Fiera Vista - has a full range of sports and recreational facilities
Prime location: Teh showing the project models of Fiera Vista Condominium at his office at Krystal Point Corporate Park. IF you are looking for an ideal home which promotes healthy living, then check out the Fiera Vista Condominium at the coming Star Property Fair 2011.
The latest project by Ideal Homes Properties Sdn Bhd located along Jalan Tun Dr Awang in Bayan Lepas, Fiera Vista boasts of having comprehensive sports and re- creational facilities to complement an energetic and healthy lifestyle.
Its sales and marketing manager Teh Yeow Jin said besides a swimming pool, jacuzzi, half basketball court and children’s playground, other facilities available include rock climbing, badminton court and a gym.
“This is a testimony of our commitment to providing a healthy living environment for residents investing in our project,” he said.
Teh said each of the 470 units features a semi-detached and bungalow concept, with two types of built-up area of 1,450 sq ft (135 sq m) and 1,650 sq ft (153 sq m).
He said each unit with a starting price of RM478,000, was deemed affordable, considering the pro-ject’s prime location which is close to the bustling Bayan Baru township.
“The four blocks of buildings are 16-storey high each and they are located amidst greenery to invoke a sense of peace and calm without compromising on current lifestyles,” he added.
Construction for the freehold residential project is scheduled to start end of the year.
Teh said the project was open for registration during the four-day property fair, adding that they had received thousands of enquiries for the project. For details, call 04-6456888.
He said besides Fiera Vista, limited units of 1-World and 1-World 2 would also be put up for sale during the fair.
Touted as Penang’s premier property expo, the fair’s ninth edition will be held at Gurney Plaza and the adjoining G Hotel from July 21 to 24.
To date, 28 major developers — representing almost all the big boys in the industry — along with several financial institutions, have taken up booths in the fair.
The RM30,000 worth of pri- zes for the ‘Surf, Click & Win’ contest are sponsored by IJM Land.
The fair, to be open to the pu-blic from 10am to 10pm daily, is organised by The Star in collaboration with Henry Butcher Penang. Admission is free.
For enquiries, call 04-6473388 ext 3357 (Shirmein) or ext 3418 (Bessie).
By TheStar
Tuesday, 5 July 2011
Mah Sing continues expanding
KUALA LUMPUR: Mah Sing Group Bhd will continue to acquire prime land and enter into joint ventures in future, to further boost its expansion strategy.
Managing director Tan Sri Leong Hoy Kum said the group was keen on both privately held and government land that could be developed as it had the track record, experience, branding and financial capacity to unlock and enhance the value.
“This year should be another good year, particularly for developers with a knack for creative product development and market strategies, among others.
“The mid to high-end residential segment in well-established locations should continue to thrive together with the mass housing market, echoing the Government's call to provide affordable housing,” he told reporters after Mah Sing's AGM here yesterday.
To date, the group has a total of 34 projects, all in Greater KL (Kuala Lumpur and Klang Valley), Penang and Johor Bharu, which yield a combined remaining gross development value (GDV) and unbilled sales of approximately RM14bil to last for five to seven years.
Leong also expected the positive sentiment for the property market to continue, riding on the favourable employment conditions and stable economic growth.
“It is a good time to buy properties now in view of the rising construction cost environment as buyers can lock in current property prices and enjoy borrowing rates, which are still very reasonable.
“Buyers should consider the developer's track record in terms of product delivery, quality, service and potential upside of the property,” he said.
He added that the group would maintain its focus on the local property market for its expansion plan.
For the first quarter ended March 31, Mah Sing reported a net profit and revenue of RM41.2mil and RM311.8mil respectively.
“We surpassed our shareholders' expectations last year and are working hard on achieving another good year in 2011 with more launches coming up in the second half,” Leong said.
Macquarie Equities Research, the latest research firm to have initiated coverage of the group, had forecast Mah Sing' earnings to grow at a compound annual growth rate of 54% over financial years 2011-2013.
In order to provide continuous value enhancement to shareholders, the group was aiming for a RM5bil market capitalisation within five years, from its present RM2.2bil. Bernama
By TheStar
Managing director Tan Sri Leong Hoy Kum said the group was keen on both privately held and government land that could be developed as it had the track record, experience, branding and financial capacity to unlock and enhance the value.
“This year should be another good year, particularly for developers with a knack for creative product development and market strategies, among others.
“The mid to high-end residential segment in well-established locations should continue to thrive together with the mass housing market, echoing the Government's call to provide affordable housing,” he told reporters after Mah Sing's AGM here yesterday.
To date, the group has a total of 34 projects, all in Greater KL (Kuala Lumpur and Klang Valley), Penang and Johor Bharu, which yield a combined remaining gross development value (GDV) and unbilled sales of approximately RM14bil to last for five to seven years.
Leong also expected the positive sentiment for the property market to continue, riding on the favourable employment conditions and stable economic growth.
“It is a good time to buy properties now in view of the rising construction cost environment as buyers can lock in current property prices and enjoy borrowing rates, which are still very reasonable.
“Buyers should consider the developer's track record in terms of product delivery, quality, service and potential upside of the property,” he said.
He added that the group would maintain its focus on the local property market for its expansion plan.
For the first quarter ended March 31, Mah Sing reported a net profit and revenue of RM41.2mil and RM311.8mil respectively.
“We surpassed our shareholders' expectations last year and are working hard on achieving another good year in 2011 with more launches coming up in the second half,” Leong said.
Macquarie Equities Research, the latest research firm to have initiated coverage of the group, had forecast Mah Sing' earnings to grow at a compound annual growth rate of 54% over financial years 2011-2013.
In order to provide continuous value enhancement to shareholders, the group was aiming for a RM5bil market capitalisation within five years, from its present RM2.2bil. Bernama
By TheStar
Friday, 1 July 2011
Tanjung Bungah’s only super condo to be ready in two years
1 TANJONG which represents Lone Pine Group of Companies’ maiden foray into the luxury super condominium market, is set for completion by 2013.
The group’s marketing and corporate affairs general manager Mabel Ooi said work on the two 41-storey towers was on track.
“We’ve incorporated eco-friendly features that reduce heat absorption as well as energy and water consumption and have applied for the Green Building Index (GBI) certification. The targeted completion date is two years from now.
“So far, response from both local and foreign buyers is good. We have potential purchasers from Singapore, Kuala Lumpur as well,” she said, adding that 1 Tanjong, a freehold project, was among a rare breed of luxury condominiums along the Tanjung Bungah beachfront in Penang.
“There is limited land along the state’s beautiful coastline. 1 Tanjong sits on the former Tanjong Country Club site, just beside Penang Swimming Club. Residents will have direct access to the beach,” she said.
Ooi said the project was developed for “resort style living”.
She said the group had studied the various super condominium projects in the region to ensure that 1 Tanjong was a step up from what is available in the market.
Green structures: Ooi showing models of 1 Tanjong super condo
“With 1 Tanjong, we wanted to make improvements on complaints that we had heard from residents in other luxury living projects. For instance, the car park does not have a spiral ramp. You drive straight in so there is no risk of scratching your car,” she explained.
1 Tanjong comprises 147 freehold units, with each floor having only two units.
There are three layouts — a typical unit (4,760sq ft), penthouse (9,600sq ft), and top penthouse (18,600sq ft).
On the group’s Pine Valley Business Centre in the Paya Terubong township, Ooi said 34 freehold units were available for rent and purchase.
“It is Paya Terubong’s first trendy, modern commercial business centre,” she said.
For more details, visit the Lone Pine Group of Companies’ office at the Pine Valley Business Centre, 1077, Jalan Paya Terubong or call 04-827 8566.
Lone Pine will also be showcasing many of its properties at The Star’s Property Fair 2011.
Other key exhibitors include IJM Land, Sunway Grand, Vienna Home (Mah Sing), Ideal Property Develop-ment, SP Setia Group, Taman Sri Setia (Boon Siew Group), Ivory Pro-perties Group, Nusmetro, MTT Pro-perties & Development, Reka Indah Development, Lembaman Develop-ment (Belleview Group), DNP Land, GD Development and Tambun Indah Development.
To date, 28 major developers —representing almost all the big boys in the industry — along with several financial institutions, have taken up booths in the fair.
Touted as Penang’s premier pro-perty expo, the fair’s ninth edition will be held at Gurney Plaza and the adjoining G Hotel from July 21 to July 24.
The RM30,000 worth of prizes for the ‘Surf, Click & Win’ contest are sponsored by IJM Land.
The fair, which is open to the public from 10am to 10pm daily, is orga-nised by The Star in co-operation with Henry Butcher Penang.
Admission is free. For more enquiries, call 04-647 3388 ext 3357 (Shirmein) or ext 3418 (Bessie).
By The Star
The group’s marketing and corporate affairs general manager Mabel Ooi said work on the two 41-storey towers was on track.
“We’ve incorporated eco-friendly features that reduce heat absorption as well as energy and water consumption and have applied for the Green Building Index (GBI) certification. The targeted completion date is two years from now.
“So far, response from both local and foreign buyers is good. We have potential purchasers from Singapore, Kuala Lumpur as well,” she said, adding that 1 Tanjong, a freehold project, was among a rare breed of luxury condominiums along the Tanjung Bungah beachfront in Penang.
“There is limited land along the state’s beautiful coastline. 1 Tanjong sits on the former Tanjong Country Club site, just beside Penang Swimming Club. Residents will have direct access to the beach,” she said.
Ooi said the project was developed for “resort style living”.
She said the group had studied the various super condominium projects in the region to ensure that 1 Tanjong was a step up from what is available in the market.
Green structures: Ooi showing models of 1 Tanjong super condo
“With 1 Tanjong, we wanted to make improvements on complaints that we had heard from residents in other luxury living projects. For instance, the car park does not have a spiral ramp. You drive straight in so there is no risk of scratching your car,” she explained.
1 Tanjong comprises 147 freehold units, with each floor having only two units.
There are three layouts — a typical unit (4,760sq ft), penthouse (9,600sq ft), and top penthouse (18,600sq ft).
On the group’s Pine Valley Business Centre in the Paya Terubong township, Ooi said 34 freehold units were available for rent and purchase.
“It is Paya Terubong’s first trendy, modern commercial business centre,” she said.
For more details, visit the Lone Pine Group of Companies’ office at the Pine Valley Business Centre, 1077, Jalan Paya Terubong or call 04-827 8566.
Lone Pine will also be showcasing many of its properties at The Star’s Property Fair 2011.
Other key exhibitors include IJM Land, Sunway Grand, Vienna Home (Mah Sing), Ideal Property Develop-ment, SP Setia Group, Taman Sri Setia (Boon Siew Group), Ivory Pro-perties Group, Nusmetro, MTT Pro-perties & Development, Reka Indah Development, Lembaman Develop-ment (Belleview Group), DNP Land, GD Development and Tambun Indah Development.
To date, 28 major developers —representing almost all the big boys in the industry — along with several financial institutions, have taken up booths in the fair.
Touted as Penang’s premier pro-perty expo, the fair’s ninth edition will be held at Gurney Plaza and the adjoining G Hotel from July 21 to July 24.
The RM30,000 worth of prizes for the ‘Surf, Click & Win’ contest are sponsored by IJM Land.
The fair, which is open to the public from 10am to 10pm daily, is orga-nised by The Star in co-operation with Henry Butcher Penang.
Admission is free. For more enquiries, call 04-647 3388 ext 3357 (Shirmein) or ext 3418 (Bessie).
By The Star
Middle class homes
PETALING JAYA: Middle class Malaysians who are aspiring to buy a home will soon be able to do so once a new Government-led initiative to build apartments costing less than RM300,000 in major cities is launched this year, Housing and Local Government Minister Datuk Chor Chee Heung said.
The affordable housing scheme, which is an addition to the My First Home Scheme for units costing between RM100,000 and RM220,000, will see stratified units priced between RM220,000 and RM300,000 being built for those with a household income of less than RM6,000 a month and who do not yet own a house.
“The Government will do whatever it can to ensure the lower income group will have a house and the medium income group will have a chance to buy a property of their own,” he said in an interview with The Star.
Chor said the plan was for units to be between 850 sq ft and 1,000 sq ft and each apartment would have a minimum of three rooms.
The ceiling price of RM300,000 will be for units built in Kuala Lumpur, Penang and Johor Baru and the price will be lower in other parts of the country.
- By The Star
“The Government will do whatever it can to ensure the lower income group will have a house and the medium income group will have a chance to buy a property of their own,” he said in an interview with The Star.
Chor said the plan was for units to be between 850 sq ft and 1,000 sq ft and each apartment would have a minimum of three rooms.
The ceiling price of RM300,000 will be for units built in Kuala Lumpur, Penang and Johor Baru and the price will be lower in other parts of the country.
- By The Star
Upcoming Plaza / Malls in Penang Island
 |
| All Season Park (BELLEVIEW) - Farlim |
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| Botanica CT Mall (MTT) - Balik Pulau |
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| Elit Mall (SEAL) - Bayan Baru |
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| Golden Triangle Mall (GIM) - Sungai Ara |
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| Maritime Square (IJMLAND) - Jelutong Expressway |
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| Paragon Mall (HUNZA) - Gurney |
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| Penang Time Square phase2 (IVORY) - Georgetown |
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| Setia Commercial Park - Sungai Ara |
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| Southbay Plaza (MAH SING) - Batu Maung |
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| Straits Quay (E&O) Tanjong Tokong |
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| The light phase2 (IJMLAND) - Jelutong Expressway |
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| The One (IDEAL) - Bayan Baru |
 |
| Tourism Mall (IVORY) - Tanjung Tokong |
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