News about Penang

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.

KUALA LUMPUR (June 16): Eco World Development Group Bhd (EcoWorld) signed the deed of revocation and rescission yesterday with the Penang Development Corp (PDC) after their mutual decision to rescind the award of the proposed RM10 billion Eco Marina project in Batu Kawan, Penang, to the developer.

KUALA LUMPUR (June 15): The Penang government has issued a halt order on the 83%-complete feasibility studies and detailed design (FSDD) for the 7.

PENANG-based developer New Bob Group is building the first green condominium in Seberang Perai.

KUALA LUMPUR (June 14): Consortium Zenith BUCG Sdn Bhd (CZBUCG) has yet to receive RM100 million for the feasibility studies and detailed design work completed thus far for the RM6.