News by Lum Ka Kay

Rented for: RM20,000 a month; Concluded by: Jerome Eng Sitt Tatt (E 2316) of CBD Properties (Penang) Sdn Bhd (012-419 9298); When: October 2016

The general performance and outlook for the property market in Penang is still lacklustre as both economic conditions and general public sentiments are down, said real estate firm Knight Frank Malaysia in its “Real Estate Highlights 2H2016” report.

Green Venture Capital Sdn Bhd (GVC), a subsidiary of Wawasan Qi Properties Group (WQIP), has commenced construction work on the Qi City development in Bandar Meru Raya, near Ipoh in Perak. It is slated for completion by 2020.

The high-rise residential market in Johor’s Iskandar Malaysia has softened in 2016 with lower transaction prices in the subsale market.

Mah Sing Group Bhd chief executive officer Datuk Ho Hon Sang has been conferred with the Darjah Kebesaran Panglima Mahkota Wilayah.

Pine Properties Sdn Bhd, a 99.8%-owned subsidiary of IOI Properties Group Bhd, has signed a shareholders’ agreement with MJR Investment Pte Ltd on Jan 26.

Hua Yang Bhd’s maiden project in Penang, Meritus Residensi, has recorded a 34% take-up rate as of today since the project’s introduction last November, said the developer in a statement.

Sitting on a 14,000 sq ft freehold site, Isola KLCC is a RM206 million project with 140 serviced residence units. Each unit will have one to three bedrooms and built-ups of between 635 sq ft and 1,625 sq ft.

Sunsuria Bhd has opened Block B, the final block at The Olive condominium project at Sunsuria City in Salak Tinggi, Selangor, for sale following good response to the earlier blocks.

This is on the back of Beijing’s tightened controls to curb property price growth.