News about Penang

PETALING JAYA (Feb 23): Penang-based property developer Tambun Indah Land Bhd plans to launch three new projects worth about RM170 million for 2017, said the developer.

AFTER waiting for months on end for their applications for advertising permits and developers’ licences (APDLs) to be approved, developers in Penang breathed a sigh of relief recently — they have finally been given the nod.

PETALING JAYA (Feb 21): Penang and Sabah remain the most attractive regions for investment in the hotel or leisure sub-sector, according to respondents of Knight Frank’s Malaysia “Commercial Real Estate Investment Sentiment Survey 2017” (CREISS).

KUALA LUMPUR (Feb 15): Al Salam Real Estate Investment Trust (REIT) saw its net property income (NPI) jump 33% to RM16.

KUALA LUMPUR (Feb 14): Sunway Property, the property division of Sunway Bhd, is looking to launch RM2 billion worth of properties this year with 90% of the launches in Malaysia, while the remaining will be in Tianjin, China.

IN less than two years, Singapore-based Lee Rubber Co (Pte) Ltd has divested itself of at least four assets in Malaysia, namely in Johor, Kuala Lumpur and Penang.

KUALA LUMPUR (Feb 9): Tanco Holdings Bhd is selling off all the unit parcels in Duta Vista Executive Suites in Kuala Lumpur to Penang-based real estate company Eternal Village Sdn Bhd for RM50 million.

DUE to the overall weak ringgit and uncertain economic landscape, the property market in Malaysia will continue to be very challenging, says Foo Gee Jen, managing director of property consultancy CBRE|WTW.

KUALA LUMPUR (Feb 7): A company owned by Vitrox Holdings Bhd and Pentamaster Corp Bhd is acquiring a piece of 5.

KUALA LUMPUR (Feb 7): Datuk Alex Ooi Kee Liang (pictured) has resigned as managing director of Mega Sun City Holdings Bhd.