Crunch time for malls
JUST last week, Perda City Mall in Bukit Mertajam, Penang, suddenly shut down after a mere 18 months in business.
Penang mulls cap on pre-war building rental hikes to 20% over 4 to 5 years, says CM
PENANG (Aug 5): Penang is mulling a cap on rental hikes in pre-war buildings to 20% over a period of four to five years, in contrast with more exorbitant hikes of 100% to 200% observed in recent times, said Penang chief minister Lim Guan Eng at the Penang International Property (PIP) Summit conference today.
The Waterside Residence condo at The Light, Penang set for October launch
PETALING JAYA: IJM Land Bhd, the property development arm of IJM Corp Bhd, will be launching the Waterside Residence condominium project in Penang, with an estimated gross development value (GDV) of RM240 million, this October.
SRS Consortium accepts LoA extension as PDP for Penang Transport Master Plan
KUALA LUMPUR (Aug 4): SRS Consortium Sdn Bhd, a 60:20:20 joint venture among Gamuda Bhd, Loh Phoy Yen Holdings Sdn Bhd and Ideal Property Development Sdn Bhd, has duly accepted an extension of a letter of award (LoA) by the Penang state government to Feb 28, 2017 for its appointment as the project delivery partner (PDP) for the implementation of the Penang Transport Master Plan (PTMP).
Sunway Property to enhance presence in Penang with new HQ
PETALING JAYA (Aug 3): Sunway Bhd’s real estate arm Sunway Property is setting up a regional office and sales gallery in the northern state of Malaysia, Penang, which is scheduled for completion in April 2017, the developer said in a statement yesterday.
Penang proposing rent control on pre-war buildings at Unesco heritage site
GEORGE TOWN (Aug 2): The Penang government is proposing a rent control policy for pre-war buildings after numerous complaints from business operators in the George Town Unesco World Heritage Site over excessive rental hikes, Bernama reported today.
Has Ewein’s RM800m City of Dreams hit a snag?
KUALA LUMPUR (Aug 1): A stay order imposed by the Penang Appeals Board (PAB) on the execution of the planning permission for Ewein Bhd’s maiden property development venture remains after one year.
Aspen hopes to ink RM550 mil RTO agreement with Yi-Lai by next week
BUTTERWORTH (July 28): Penang-based property player Aspen Vision Development Sdn Bhd is hoping to ink a share sale agreement for its RM550 million reverse takeover (RTO) of ceramic and homogenous tiles maker Yi-Lai Bhd by next week, which will pave the way for the former to be listed on Bursa Malaysia.
Shoebox units to kick off in Penang?
KUALA LUMPUR (July 27): Escalating housing prices and the changing needs of young buyers have spurred interest in shoebox-sized apartments on Penang island, said Henry Butcher Malaysia (Penang) Sdn Bhd director Jason Teoh.
Varsity to acquire hotels in Klang Valley, Penang
SINTOK (July 25): Universiti Utara Malaysia (UUM), through a subsidiary of Uniutama Management Holdings Sdn Bhd (UMHSB), is taking over several hotels in the Klang Valley and Penang.
