News about Penang

KUALA LUMPUR (July 13): What do you think of when Ipoh comes to mind? Pomelos? Shredded chicken kueh teow soup? A long gone mega tin mining industry? Crunchy bean sprouts? Salt-baked chicken? Pretty girls with flawless complexion? The city has been sort of underrated over the years as a tourist spot in Malaysia, with the Pearl of the Orient, Penang; and historical Melaka hogging the limelight in the peninsula and Land Below the Wind, Sarawak across the South China Sea drawing in visitors.

FOR a lot of investors, the first thing that comes to mind when one mentions Penang is the state’s thriving island and its capital city of George Town.

NADAYU Properties Bhd’s latest offering in Taman Nadayu — the mixed-use development Nadayu63 — is seen as a catalyst for the township, with the commercial component set to bring dynamic lifestyle and retail activities to residents.

KUALA LUMPUR (July 9): Real estate experts cautioned against reintroducing rent control on heritage and pre-war properties in Penang, as it may drive up the cost of maintaining these properties, lowering their values and impacting tourism as a result.

PETALING JAYA (July 9): UDA Holdings Bhd will launch two projects in Bertam on Penang’s mainland which have a total gross development value (GDV) of RM1.

GEORGE TOWN (July 4): Some 29 villages in Penang might face the risk of ‘disappearing’ forever, including its Malay heritage culture, following rampant development projects in the area, say academicians.

KUALA LUMPUR (July 3) Chinese metaphysics consultant Datuk Joey Yap expects the property sector to continue to be slow as the market belongs to “earth” element industry, which should be weak in the Year of the Fire Monkey.

GEORGE TOWN (June 30): The Penang government yesterday rebutted Consortium Zenith BUCG Sdn Bhd’s (CZBUCG) claim that the latter has yet to receive RM100 million as payment for the feasibility studies and detailed design work the consortium had completed so far for the RM6.

GEORGE TOWN (June 28): Penang-based Ideal Sun City Holdings plans to invest RM50 million to acquire commercial buildings in the state, as well as in Kuala Lumpur and Selangor.

THE Penang housing market moved sideways on both the primary and secondary markets in the first quarter of the year, says Michael Geh (pictured), director at Raine & Horne International Zaki + Partners.