Penang Real Estate | Penang Property | Penang Properties: Putra Place Condominium Wanted Urgently

Calling for all owners of Putra Place Condominium, Sri Nibong, Penang,

If you have the intention to sell your Putra Place Condominium, Sri Nibong, Penang, please feel free to contact us. We have ready buyers awaiting your responses.

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Penang Real Estate | Penang Property | Penang Properties: Putra Place Condominium Wanted Urgently

Penang Real Estate | Penang Property | Penang Properties: Desa Green Apartment Wanted Urgently

Calling for all owners of Desa Green Apartment in Greenlane, Penang,

If you have the intention to sell your Desa Green Apartment in Greenlane  Penang, please feel free to contact us. We have ready buyers awaiting your responses.

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Penang Real Estate | Penang Property | Penang Properties: Desa Green Apartment Wanted Urgently

Penang Real Estate | Penang Property | Penang Properties: Desa Bistari Apartment Wanted Urgently

Calling for all owners of Desa Bistari Apartment in Pantai Jerjak, Penang,

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Penang Real Estate | Penang Property | Penang Properties: Desa Bistari Apartment Wanted Urgently

Penang Real Estate | Penang Property | Penang Properties: Bella Vista Apartment Wanted Urgently

Calling for all owners of Bella Vista Apartment in Gurney Drive, Penang,

If you have the intention to sell your Bella Vista Apartment in Gurney Drive, Penang, please feel free to contact us. We have ready buyers awaiting your responses.

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Penang Real Estate | Penang Property | Penang Properties: Bella Vista Apartment Wanted Urgently

Bellisa Court Wanted

Calling for owners of Bellisa Court Condominium, Pulau Tikus, Penang!!!

We have ready buyers looking for Bellisa Court Condominium, Pulau Tikus, Penang. All are welcome as long as the price is right. Should you wish to let your unit here, you are also welcome to contact us.

For serious sellers of Bellisa Court Condominium, Pulau Tikus, Penang, kindly contact us to further discuss on the sale of Bellisa Court Condominium, Pulau Tikus, Penang. On the other hand, if you know someone who is interested to sell his or her Bellisa Court Condominium, Pulau Tikus, Penang, you are also welcome to contact us. There is no obligation. Thank you in advance.

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Penang Real Estate | Penang Property | Penang Properties: Value Buy, Price Drop For Sunway Cassia (3T13)

Penang Real Estate | Penang Property | Penang Properties: Value Buy, Price Drop For Sunway Cassia (3T13)

Sunway Cassia at Batu Maung for quick sale or rent. Don't miss this golden opportunity to own a brand new 3 storey terrace now! Priced to sell quickly. Opportunity knocks once. Going, going, gone!

To contact us for more information or to inspect, please click here. Penang I Property

PDC opens bid to build RM100mil theme park

GEORGE TOWN: The Penang Development Corp (PDC) has announced a request for proposal to build an international theme park project worth more than RM100mil.

General manager Datuk Rosli Jaafar said PDC under the state government had identified two pieces of land in Bandar Cassia Batu Kawan to build an international theme park and a golf resort.

He said land for the theme park should be around 87ha with the golf resort about 190ha, while the request for proposal was for the purchase, lease and development of both or either of these two projects.       

“The theme park should be a minimum of about 69ha, with the balance of land to be used for residential, commercial and other components related to the golf resort development,” he told reporters yesterday.

He said both projects must be fully completed within four years from the date of related agreement or within such extended time subject to payment of a penalty premium by mutual agreement between both parties.       

“An earnest deposit of RM3mil will be collected to ensure the project is completed according to the timeline submitted,” he said.

He said the land tenure was 30 years plus 30 years lease for the golf course and theme park, with 99 years leasehold for other components in the development.

Rosli said the closing date for tenderers to submit their proposal would be Oct 31. – Bernama

Bumiputera discount: A sensitive topic that must be addressed

A CAP on the 7%-10% discount for bumiputera house buyers is a controversial but much-needed initiative to address spiralling house prices.

The National House Buyers Association (HBA) said the powers-that-be have to just bite the bullet and explore such reforms if it is sincere in providing affordable housing to all.

In its presentation on July 17 at a discussion in housing issues, the HBA proposed that bumiputera discounts be limited to the first two properties.

HBA honorary secretary-general Chang Kim Loong said one must look at the spirit of the bumiputera discount, which was to allow not so well off bumiputeras to own homes and avoid polarisation of neighbourhoods.

"It gives food for thought as to why the well-off should also enjoy this privilege," he said, revealing that the HBA proposed high-end properties such as penthouses, semi-detached houses and bungalows be exempted from the bumiputera discount privilege.

It also proposed a price cap of RM1 million to enjoy the discount.

Other than that, a growing number of unsold bumiputera lots is also contributing to the glut.

"Instead of looking for more development sites, these unsold units should be opened up faster," Chang said.

This is one area where the HBA and the Real Estate and Housing Developers Association (Rehda) are on the same page.

Rehda president Datuk Seri Michael Yam had last year proposed that unsold bumiputera lots be allowed to be disposed of to non-bumiputeras six months after the property receives its certificate of fitness (CFs).

There are about RM4 billion worth of unsold bumiputera property and Rehda has also been championing for a review of the 30% bumiputera quota imposed on developers.

However, Chang cautioned that this proposal must be dealt with delicately to avoid misunderstanding.

"We must explain this carefully and underline that reviewing this policy is merely a practical measure to resolve a bigger problem. It will benefit all Malaysians in the long run as there will be more supply," he said.

The HBA also opined that the steep rise in property prices was attributed to the lack of land, hence opening up government landbanks is one initiative that the powers that be should consider.

Other measures to control the cost of constructing houses touches on specific government policies such as allowing direct recruitment of foreign workers instead of the current agent practices; reducing the levy on foreign workers; and transfer the burden to provide utilities in new developments from the developer to the utility companies.

Another proposal which the government is already looking into is to reduce the approval time frame for construction permits.

Currently, it takes up to 392 days for an approval, although this can be brought down to 67 days via a one-stop centre (OSC).

The target is to further reduce this time frame to 47 days by next year.

London property tight supply, rising prices a boon to Malaysian developers

Malaysian developers with projects in central London are expected to benefit from rising prices as demand is up on tight supply of new properties, Amresearch Sdn Bhd said today.

Malaysian property developers with projects there include SP Setia Bhd which is handling the development of the Battersea Power Station (pic) Phase 2 through a 40:40:20 JV with Sime Darby Bhd and the Employees Provident Fund (EPF). The Battersea Phase 1 project had achieved a take up rate of 97% in just six months from its launch in January.

Other upcoming launches in London include IJM Land Bhd’s 51-percent-owned Tower Bridge project with a gross development value (GDV) of  RM1.5 billion and E&O Bhd’s Princes House Apartments, which has a GDV of RM250 million.The Amresearch report cited a LSL Property Services Plc/Academetrics survey that showed prices in the central London area have risen by an average annual growth rate of 7.9 percent in tandem with growing demand.

The lack of supply has been the key reason for the persistent demand of properties in London, it said.

According to Census 2011 data, the UK Department of Communities and Local Government estimated new households in London were expected to surge by 40 percent between 2011 and 2012.

However, from the expected demand of 525,790 units in the next decade, only 277,240 units would be available. This translates to a shortfall of 48 percent in supply in the prime areas, the report said.

Amresearch has maintained its overweight recommendation on the property sector.

Its top picks for the property sector are IJM Land Bhd (fair value: RM3.80), Mah Sing Group Bhd (fair value : RM3.70) and UEM Land Bhd (fair value: RM3.61). August 5, 2013. - The Malaysian Insider

Penang Real Estate | Penang Property | Penang Properties: Platino Luxury Condominium Wanted Urgently

Penang Real Estate | Penang Property | Penang Properties: Platino Luxury Condominium Wanted Urgently

Calling for owners of Platino Luxury Condominium, Gelugor, Penang!!!

We have ready buyers looking for Platino Luxury Condominium, Gelugor, Penang. All are welcome as long as the price is right.

For serious sellers of Platino Luxury Condominium, Gelugor, Penang, kindly contact us to further discuss on the sale of Platino Luxury Condominium, Gelugor, Penang. On the other hand, if you know someone who is interested to sell his or her Platino Luxury Condominium, Gelugor, Penang, you are also welcome to contact us. There is no obligation. Thank you in advance.

To contact us, Penang Property. Please click here.