News about Town

PENANG (Sept 23): The legal aspects on the rent control proposal on pre-war buildings in George Town have been approved at the state level, said Penang state exco for Housing and Town & Country Planning Jagdeep Singh Deo.

KUALA LUMPUR (Sept 22): The opening of the RM3 billion gross development value MyTOWN Shopping Centre in Cheras is delayed from the initial target of November this year, amid headwinds faced by the shopping mall segment.

THINGS have been quiet on the Penang primary property market so far, although the secondary market has seen some activity, albeit slower.

KUALA LUMPUR (Sept 13): VERITAS Design Group is one of the 2016 recipients of “Cityscape Awards Emerging Markets” award under the category of Leisure & Hospitality award (built) for its Sinkeh Hotel project in George Town, Penang by Dubai’s Cityscape Awards Global.

PETALING JAYA (Aug 17): Property consultancy firm Knight Frank’s Prime Global Cities Index that tracks prime residential prices across 37 global cities worldwide has shown Vancouver leading the rankings for the fifth consecutive quarter.

PETALING JAYA: The Penang state government will soon make its decision regarding a proposal to revise the current density guidelines to 128 units per acre in order to provide more affordable housing in the state.

PETALING JAYA (Aug 12): The Penang state government is on a fact-finding mission to pin point the possible impact of a rental hike on its pre-war buildings in George Town.

PETALING JAYA (Aug 11): Consumer spending remains a key challenge in the Malaysian retail industry with many continuing to hold back on purchases due to growing concerns on the rising cost of living and weaker job prospects, said property consultancy firm Knight Frank Malaysia in its Real Estates Insights research report for 1H2016.

PETALING JAYA (Aug 10): The immediate outlook of Penang’s property market will be challenging amid difficulties in the global and national economic environment, said property services firm Knight Frank Malaysia in its latest report.

KUALA LUMPUR (Aug 10): Ajiya Bhd will partner Sarawak-based IMAG Development & Construction Sdn Bhd (Imag) to develop a housing project to be awarded by Prima Corporation Malaysia (PR1MA).