Penang Real Estate | Penang Property | Penang Properties: Noble Villa

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Penang Real Estate | Penang Property | Penang Properties: Noble Villa

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Penang Real Estate | Penang Property | Penang Properties: Putra Marine For Rent - Move in Condition (C62)

Penang Real Estate | Penang Property | Penang Properties: Putra Marine For Rent - Move in Condition (C62): Putra Marine Condominium For Rent, Sri Nibong, Penang Property

A Touch of Class yet one for the money

Rare opportunity that a genuine tenant ought not to be missed. You would regret for missing this lovely condo of Putra Marine Condominium.

What are you waiting for? Below are the details of this unit of Putra Marine Condominium:-
Strategic location & accessibility, near to Queensbay Mall and Bayan Lepas Industrial Area
Built-up: 2,400 square feet
4 + 1 bedrooms
Resort like Condo facilities
Fully Renovated & Furnished
Priced to rent quickly @ RM5,000
View to appreciate. Contact us for viewing!

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Penang Real Estate | Penang Property | Penang Properties: Noble Villa Wanted

Penang Real Estate | Penang Property | Penang Properties: Noble Villa Wanted: Calling for owners of Noble Villa Apartment, Georgetown, Penang!!!

We have ready buyers looking for Noble Villa Apartment, Georgetown, 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 Noble Villa Apartment, Georgetown, Penang, kindly contact us to further discuss on the sale of Noble Villa Apartment, Georgetown, Penang. On the other hand, if you know someone who is interested to sell his or her Noble Villa Apartment, Georgetown, Penang, you are also welcome to contact us. There is no obligation. Thank you in advance.

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Kedah border projects to build on Thai, Penang growth

ALOR SETAR: The Barisan Nasional-led Kedah Government aims to exploit the potential of districts bordering Thailand in the north and Penang in the south to spur economic growth of Malaysia’s “rice bowl” state, says Menteri Besar Datuk Mukhriz Mahathir.

He said the south of Kedah comprising Sungai Petani and Kulim is reaping the spin-offs of Penang’s rapid development.

“The ties between Sungai Petani and Kulim with Penang are akin to that between Johor and Singapore. I am determined to develop southern Kedah by taking full advantage of Penang’s fast-paced development,” he told a media conference to mark his 100 days as Kedah Menteri Besar.

Among plans in the pipeline for Sungai Petani and Kulim are to increase rest and recreational activities that can attract Penangites especially during the weekends.

For areas in north Kedah bordering Thailand, Mukhriz said the state government hopes the Kota Putra project in the Padang Terap district and Kota Perdana Bukit Kayu Hitam project in Kubang Pasu will capitalise on the close relations with areas in southern Thailand as the source of economic growth.

He said the border areas can serve as a catalyst for tourist attraction, cashing in on visitors from Thailand crossing over to Malaysia through Kedah.

“Vehicles entering from Thailand are now heading straight to Penang, Kuala Lumpur and Johor without stopping over in Kedah.

“I hope we can do something to create activities such as building shopping centres that are attractive to them and there are goods that can be bought in this state,” he said.

Mukhriz said the state also intends to establish a logistics hub in northern Kedah to collect and distribute industrial products manufactured by the small and medium enterprises in the state throughout the country and to Thailand.

He said there are also opportunities to bring in products from Thailand to the hub for value-adding to meet the halal standard requirements and to obtain Malaysia’s halal certificate for the Malaysian market and for export.

“I think this is a good idea. We are studying it now. I can see that these activities will turn northern Kedah into a fast-pace growth area in sectors that are different from that in southern Kedah,” he said. — Bernama


This article first appeared in The Edge Financial Daily, on August 15, 2013.

Penang Real Estate | Penang Property | Penang Properties: Desa Samudra Condo For Rent (C61)

Penang Real Estate | Penang Property | Penang Properties: Desa Samudra Condo For Rent (C61): Desa Samudra Condo For Rent (C61)
Desa Samudra Condominium For Rent, Logan Road, Penang Property

Unbeatable! Low Density, Conveniently Located

Rare opportunity that a genuine tenant ought not to be missed. You would regret for missing this lovely condo of Desa Samudra Condominium.

What are you waiting for? Below are the details of this unit of Desa Samudra Condominium:-
Strategic location & accessibility, Logan Road, near to Loh Guan Lye Hospital & Georgetown
Built-up: 1,100 square feet
3 bedrooms, 2 bathrooms
Condo facilities
Only 28 units
Furnished
Priced to rent quickly @ RM2,200 (Price drops to RM2,100pm)
View to appreciate. Contact us for viewing!

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Land transactions and notable developments

   

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MUCH has been written about the office market of late but there is another sub-segment of the property market that has been generating a bit of interest and this is in the area of development sale sub-segment where the Greater Kuala Lumpur and Johor Baru have been active in the development land transaction market, PPC International half-year report says.

Notable facts:

> Almost 90% of total notable land deals in Johor Baru are within Iskandar Malaysia, amounting to RM2.23bil.

> A “new price benchmark” was recorded in Puteri Harbour, Nusajaya @ RM334 per sq ft for agricultural land.

> The German ambassador’s residence was placed on the market for sale at RM200mil, an equivalent of RM2,500 per sq ft.

> Other than Greater KL, Johor and Penang, there was one notable land sale in Genting Highland, Klebang in Malacca and Seremban.

> The 1.43 acres commercial land in Genting Highland was transacted at RM8mil while the 16.8 acres reclaimed land in Klebang was transacted at RM54.3mil.

> Two plots of agricultural land in Seremban measuring 194 acres and 236.9 acres were transacted at RM7 and RM4.60 per sq ft respectively. This transaction was undertaken for the Bandar Seri Sendayan expansion.

> Mah Sing Group Bhd, via its subsidiary, bought one acre and the development rights on the adjoining 8.33 acres in Kota Kinabalu from Yayasan Sabah at RM21.9mil and RM163mil respectively. Together, both parcels of land are targeted for mixed development, to be known as “Kota Kinabalu Convention City”.

> Ongoing and upcoming mixed development in Greater KL

Tropicana Metropark @ Subang Jaya

n       An ongoing development on 88 acres

n       Estimated GDV: RM6.3bil

n       Developer: Tropicana Corp Bhd

n       Mixed development

n       May 2013: Phase 1, Pandora Service Apartments launched

n       Serviced apartments from 600-1,200 sq ft launched at RM780 psf

n       Completion: 2025

Magna Ecocity @ Section 15, Shah Alam

n       20 ares

n       Mixed development

n       Estimated GDV: RM1.4bil

n       Developer: Magna Prima Bhd

n       Second half 2013: ground breaking

Pantai Sentral Park @ Pantai Dalam, KL

n       Mixed dev on 58 acres

n       Estimated GDV: RM3bil

n       Developer: IJM Land Bhd

n       Second half 2013: ground-breaking

Yet to be named @ Jalan Bukit Bintang, KL

n       A 39-storey residential block on a 10-storey retail podium on 0.67 acres

n       Estimated GDV: RM800 mil

n       Developer: Urusharta Cemerlang (KL) Sdn Bhd

n       Expected launch: Fourth quarter of 2013

Quill City @ Jalan Sultan Ismail, Kuala Lumpur

n       A re-development of the abandoned Vision City on 7 acres

n       Estimated GDV: RM2.5bil

n       Mixed development

n       Completion: Third quarter of 2014 

The Star

Residential prices remain flattish

VARIOUS issues related to affordability and speculation continue to hog the overall residential market for the first half of this year. Coupled with the recently concluded 13th general election, the first half was “relatively sluggish”, property research reports concluded.

In fact, prices have been “flattish over the past 12 months”, one report concluded, due in part to the various cooling measures instituted by the Government.

The primary high-end condominium market appears to be performing better than the secondary market due to various incentives and attractive payment schemes and product offerings which come in smaller sizes in line with today’s market trend.

In the prime areas of KL city centre (pic) and Mont’Kiara, prices and rentals remain generally flat due to the high supply and a weak leasing market, says Knight Frank.

In its research report for the first half, PPC International Sdn Bhd says it “believes that the residential market is experiencing a general slowdown.”

This view, the report says, is supported by falling transactions. The total volume of transactions in the first quarter of this year dropped to 17,796 units compared to 23,790 units in the same period last year.

The existing residential property stock for the first half of this year is 4.67 million units. However, the new planned supply dropped to 31,677 units in the first quarter of this year from 32,472 for the same period last year.

“The drop in the total planned supply for Malaysia could be interpreted as a sign of developers exercising caution in launching new residential projects,” the report says.

The slower momentum, however, is not evidenced in Johor, especially in Iskandar Malaysia.

“The average house price dropped from RM251,731 in the last quarter of 2012 to RM245,036 in the first quarter of 2013. Kuala Lumpur, Selangor and Penang also experienced a decline in average house prices.

“However, there is no specific record on falling prices of any category of real estate. We believe, the drop in average house prices is largely brought about by higher volume of low to medium cost residential units sold.

“Against this environment, PPC believes that the residential market is experiencing a general slowdown,” the report says. The demand for landed housing continues to be high, notwithstanding the fact the returns do not justify as investment properties, the report says.

Going forward, the interest is expected to hover around developments close to the ongoing MRT/LRT extensions.

Knight Frank says prices of condominiums in the secondary market in the suburban areas are expected to continue to perform well, supported by sustained local demand.

“Prices of well-located high-rise properties that are managed well continue to appreciate, closing the gap between primary and secondary prices,” the Knight Frank report says, adding that yields continue to be compressed as price increments/high selling prices do not correspond with the lagging rental market.

In the primary market, there were a few high-rise residential property launches towards the end of the first half. Enquiries with developers by property consultants revealed good takeup rates of these developments.

Among the most prominent is Venus Assets’ Four Seasons Places located within KL city centre, the first of its brands in South-East Asia.

“The popularity of global branded residences continues to be on the rise, setting a new definition to luxury living complete with hotel supported services,” Knight Frank says.

The average selling price for Four Seasons Place is in the region of RM2,500 per sq ft with buyers comprising mainly Malaysians and foreigners from Japan, Hong Kong and Taiwan.

More launches have been scheduled for the second half with a certain degree of “caution”, taking the queue from overall global situation.

The PPC report says “house prices recorded by the National Property Information Centre indicate that the market is creeping into a consolidation phase.”

“PPC does not foresee a definite impact on the demand from young professionals, given the shorter home loan repayment period and the pricing of residential market which is beyond their financial income bracket.”

While foreigners will be attracted to predominantly Kuala Lumpur city centre, Penang and Iskandar Malaysia, local purchasers will be geared more towards purchasing township developments, especially landed homes, the PPC report says.

Moving forward, 2013 will also see developers acquiring land for medium-sized developments.

While the market generally is in a cautious mode, the outlook for residential market in urban locations is bullish, it says. - The Star

Penang Real Estate | Penang Property | Penang Properties: Development Land in Penang, Perak and Kedah Wanted Urgently

Penang Real Estate | Penang Property | Penang Properties: Development Land in Penang, Perak and Kedah Wanted Urgently

Development Land Wanted Urgently in Penang, Perak & Kedah

Calling land owners who are interested to sell or joint venture to contact us immediately.

The land can be industrial, commercial, residential or agricultural in Penang Island, Mainland (Seberang Perai) or Kedah. Any size as long as the price, terms and conditions are right.

Please feel free to contact us for further discussion. There is no obligation.

Thank you.

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Penang Real Estate | Penang Property | Penang Properties: Setia Pearl Island 3 Storey Terrace For Rent (3T14)

Penang Real Estate | Penang Property | Penang Properties: Setia Pearl Island 3 Storey Terrace For Rent (3T14)

Setia Pearl Island 3 Storey Terrace, Sungai Ara, Penang Property
Value For Money!!! Priced To Rent Quickly

Are you looking for a landed property in Setia Pearl Island to rent? If yes, this 3 Storey Terrace is for you. Act now before too late!

Must See Now to Grab it!!! Perfectly fit as your dream house

Reasons to own 3 Storey Terrace, Setia Pearl Island now.......

1. Good Location - one of the most sought after property in Sungai Ara
2. Modern design & Good concept
3. Quiet Neighbourhood
4. Guarded
5. The lowest rental yet in good condition

Therefore, don't miss it. Opportunity knocks once! 

What are you waiting for? Below are the details:-

• Land Area: 1,400sf
• 5 bedrooms 4 bathrooms 
• With air cond, fans
• 2 balconies
• Rental: RM1,500 per month

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SP Setia has 44ha in Penang for RM3bil projects

GEORGE TOWN: SP Setia Bhd still has 44ha on Penang island that it can use to develop some RM3bil worth of residential properties over the next five years.

SP Setia Property North general manager Khoo Teck Chongtold StarBiz that the largest land-bank the group had in Penang was a 14ha site in Tanjung Bungah.

“It is being planned for the RM1bil GDV (gross development value) Setia Eco Forest project, comprising low and high-rise condominiums, scheduled to be launched in late 2014,” he said.

It also has 8ha in Balik Pulau, where the group planned to develop landed properties with a GDV of RM148mil.

“We also have 21 acres (8.5ha) in Sungai Ara, the state’s south-west district, where we plan to develop the RM350mil Setia Sky 8, RM250mil Sky Breeze condominium projects and the final phase of the RM130mil Setia Green landed properties,” Khoo said.

He also said the group was planning the RM600mil Setia Sky Vista condominium scheme on 6ha in Relau.

The group has smaller land parcels in Jelutong (3.8ha), Taman Sri Nibong (1.6ha), Teluk Kumbar (1.13ha) and Gurney Drive (0.73ha), where RM900mil worth of high-rise projects are planned.

“We are planning a RM500mil condominium scheme in Jelutong, and the RM200mil Setia Sky Hill and RM60mil Setia Sky Cube projects respectively in Taman Sri Nibong andTeluk Kumbar, and the RM140mil Setia V Residence Tower B in Gurney Drive,” he said.

According to Khoo, SP Setia will kick off the Setia Sky Vista and Setia V Residence Tower B projects in late 2013.

He said the group expected its properties on the island to contribute RM400mil to its revenue for the current year ending Oct 31, compared with RM350mil in 2012.

“We expect to perform better than last year because the high-end condominium projects such as Setia Pinnacle, Setia Triangle and Setia V Residence received strong response.

“So far we have achieved RM150mil in sales from our launches in Penang,” Khoo said.

On another note, he said there was no oversupply of SP Setia projects on the island.

“Our sub-sales are doing well. For example, our Reflection condominium scheme in Sungai Ara is now transacting at RM550 per sq ft, compared with RM350 per sq ft three years ago.

“In prime areas like Gurney Drive, we price our properties at RM1,200 per sq ft, compared with RM1,000 a year ago, which is still very attractive for a good location,” he said.

Meanwhile, Raine & Horne Malaysia director Michael Gehsaid that the outlook for the second half of 2013 looked flat versus the first half, due to tighter housing loan conditions imposed by banks.

“This has reduced the number of speculators in the market. In the first half, we had more genuine buyers purchasing their first property.

“Properties in choice location from reputable developers will always draw the attention of property seekers,” Geh said. - The Star