News about Penang

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.

KUALA LUMPUR (June 20): Sunway Real Estate Investment Trust (REIT) has bought a tract of land measuring 143,225 sq ft (13,306 sq m) adjacent to its Sunway Carnival Shopping Mall in mainland Penang from its parent Sunway Bhd, for RM17.

GEORGE TOWN (June 16): Contrary to his earlier statement, Consortium Zenith BUCG Sdn Bhd (CZBUCG) chairman Datuk Zarul Ahmad Mohd Zulkifli (pictured) yesterday said the Penang government did not order the company to halt the feasibility study on the Penang-Butterworth undersea tunnel.