Penang CM: To Considering Reinstating Rent Control Law

In response to the Penang’s Heritage Site being put at risk by foreign investors, Penang’s Chief Minister Lim Guan Eng is considering reinstating the rent control law. Previously reported in PropertyGuru, the elderly in Penang are being evicted and are being forced to be homeless due to callous property investors and increasing rental. Property experts … Read more

Penang’s Heritage Site Under Threat Due To Inflated Prices

GEORGE TOWN: Price manipulations, market monopoly and evictions of generations-old tenants are threatening the city’s world heritage site, claimed NGOs here. Heritage properties estimated at RM400,000 to RM600,000 had suddenly changed hands for up to RM1.2mil, and these inflated prices have stirred foreigners, especially Singaporeans, into a buying frenzy of George Town’s pre-war shophouses. The … Read more

Rent-To-Own Programme To Those No Fixed Income

The Penang Regional Development Authority (PERDA) will offer the rent-to-own housing programme to enable the islanders who do not have regular income to buy a home. “This programme is to help those rejected by banks, sometimes because they have no fixed income or have a bad track record, especially the younger generation. This is only for low-cost housing … Read more

Cable Car System For Penang Gets Rejected

GEORGE TOWN: The proposed cable car system for Penang, which is part of the ambitious RM27bil Penang Transport Master Plan (PTMP), has been rejected by the Federal Government. The cable car aims to link Gat Lebuh Nordin on the island to public transport hub Penang Sentral in Butterworth on the mainland. Both areas are close … Read more

Penang To See RM2.72 Billion Worth Of Condos

Ideal Property Development plans to unveil RM2.72 billion worth of condominium developments in Penang Island this year. These include the RM378 million Summerskye Residences in Bayan Lepas that was launched January, said Datuk Alex Ooi, Executive Chairman of Ideal Property. For the upcoming projects, they consist 3,648 units that will be released from May to … Read more

Penang Undersea Tunnel To Cost RM6.3 Billion

According to the State Public Works and Utilities Executive Councillor Lim Hock Seng, Penang’s upcoming undersea tunnel and three paired roads are expected to cost a total of RM6.3 billion only. He was refuting the allegation made by Urban Wellbeing, Housing and Local Government Minister Datuk Abdul Rahman Dahlan that the overall cost of the … Read more

Penang LRT – Bayan Lepas Line

The proposed Bayan Lepas Light Rail Transit Line will covers a distance of 30km and 27 stations. Of its 27 proposed stations, 19 are to be in Komtar, Macallum Street area, Bandar Sri Pinang, the future Sky Cab station, East Jelutong, The Light Waterfront, Gelugor, Universiti Sains Malaysia, Batu Uban, Pesta site, Sungai Nibong, Bukit Jambul, … Read more

Guan Eng Responds To Allegations Over Purchase Of Bungalow

GEORGE TOWN: Chief Minister Lim Guan Eng has dismissed claims a bungalow he purchased in 2015 was linked to a person involved in a company which won a bid for a piece of state land. He said the seller which sold him the house in Jalan Pinhorn here was not involved in the company as a … Read more

MACC To Open Investigation On Lim Guan Eng

KUALA LUMPUR: The Malaysian Anti-Corruption Commission (MACC) will open an investigation paper (IP) on Penang Chief Minister Lim Guan Eng over his alleged purchase of a house in the state at an undervalued price. A reliable source said the IP would be opened under the MACC Act 2009, “for allegedly receiving a bribe from a … Read more

IKEA Confirms Penang Outlet Will Open In 2018

Work at its 24-acre Batu Kawan site has started GEORGE TOWN: The first IKEA store in the northern region will open in Penang by the third quarter of 2018. Ikano Pte Ltd, the owner of the IKEA franchise holder in Singapore, Malaysia and Thailand, said work at the Batu Kawan site had started and plans … Read more