News about Penang

The two leasehold parcels have a combined area of approximately 17,013 sq m and include two factory buildings which are fully occupied.

Waterstone Penang is a freehold condominium by BSG Property, located in the established neighbourhood of Tanjung Bungah.

Designated as Package CMC2, the tender is open to Malaysian contractors as well as foreign contractors, which must form a joint venture or consortium with Malaysian contractors holding at least 50% equity.

Under the SPA, Pharmaniaga Logistics has already paid a 10% deposit of RM3 million, with the remaining RM27 million to be settled in installments as stipulated in the agreement.

EdgeProp editorial and branding head Jacqueline Lim: Penang’s residential overhang steadily eased from 5,493 units in 2020 to 2,069 units in 2024, reflecting a gradual absorption of unsold stock.

“Developers often don’t even have dedicated bumi sales staff or marketers, so the message gets lost with prospective buyers.

M Zenni is Mah Sing Group’s latest freehold serviced residence in Batu Maung, set within the rising Southbay City township.

The project will commence on Oct 1 with practical completion targeted for April 30, 2027.

Nexus Industrial Hub is a freehold light industrial development located in Jawi, Nibong Tebal, Penang, within proximity to Sungai Bakap and the thriving Batu Kawan Industrial Park.

All registered PRO agents of PRES will be able to access EPIQ, which provides real-time market data and property analytics.