About Laguna Bay Residences

An affordable housing project by Kobay Properties Teluk Kumbar, strategically located within walking distance of Lexis Suites and a short drive from Penang International Airport. Spanning approximately 1 acre, the development features a 31-story residential tower with a 9-level car parking podium. Offering 900 sq. ft. units with majority of homes boast stunning views of the Malacca Straits.

*Photo taken in Mar 2025

Find out more about Laguna Bay Residences

31 Residence is a mixed-use development planned for Permatang Pauh. Undertaken by JKP Sdn. Bhd., the project is located along Jalan Permatang Pauh, right opposite UiTM Penang Campus. This development is centrally located between Seberang Jaya and Bukit Mertajam. Amenities within 3 km includes hypermarkets, hospital, university, banks and several popular eateries.

The project comprises serviced apartments ranging from 500 to 1,100 square feet, with 180 dual-key units, 226 three-bedroom units, and 44 studio units. Additionally, it will feature 300 affordable apartment units and 34 shop lots.

The project is still in planning stage. More details will be available during official launch.

Project Name : 31 Residence
Location : Permatang Pauh
Property Type : Mixed development
Land Tenure: (to be confirmed)
Total Units: 300 (affordable unit)
Built-up Size: (to be confirmed)
Indicative Price: (to be confirmed)
Developer : JKP Sdn. Bhd.

Penang’s buildings and bridges are designed to withstand earthquakes of up to magnitude 7 on the Richter scale, according to Chief Minister Chow Kon Yeow. His statement comes after tremors from a magnitude 7.7 earthquake in Myanmar were felt in various parts of Penang, including George Town and Butterworth.

While Penang is not within an earthquake-prone zone, seismic tremors from regional earthquakes in Southeast Asia are often experienced on the island. Nearby countries such as Indonesia and the Philippines lie within the Pacific “Ring of Fire,” making them more susceptible to seismic activity.

Chow assured that critical structures, including Komtar and bridges, have been designed with earthquake resistance in mind. However, the extent of seismic considerations varies across different types of buildings in the state.

Mayors of Penang’s two city councils, A Rajendran of Penang Island City Council (MBPP) and Baderul Amin Hamid of Seberang Perai City Council (MBSP), provided further insights into earthquake resilience in local construction. Rajendran stated that seismic effects are considered for projects, but earthquake-resistant designs are not strictly imposed across all buildings. A guideline prepared by MBPP and the Institution of Engineers Malaysia (IEM) has been shared with developers to ensure best practices in construction.

Findings from IEM indicate that shorter, rigid buildings are more vulnerable to earthquake damage compared to taller structures, which are designed to flex under seismic forces. Meanwhile, Baderul Amin emphasized that Seberang Perai, with fewer high-rise buildings and large dams, has a lower necessity for stringent seismic design regulations. He noted that making earthquake-resistant designs mandatory would significantly increase construction costs.

The Myanmar earthquake, which struck near Mandalay, resulted in over 1,000 fatalities and thousands of injuries. The country sits between the India and Eurasia tectonic plates along the Saigang Fault, placing it at high risk for seismic activity.

While Penang remains outside an earthquake danger zone, the tremors from neighboring countries highlight the importance of incorporating structural resilience into future developments to ensure public safety.

A new era of urban living is here! SEIRAS Residences by Paramount Property seamlessly integrates residential and commercial spaces, designed to Connect, Recharge, and Evolve.

Exclusive Preview Event

• Date: 6 April 2025
• Time: 10AM – 5PM
• Venue: Paramount Property Gallery @ Utropolis Batu Kawan

What Makes SEIRAS Unique?

• Triple-Key Living Spaces – A first in Penang, providing flexible living options.
• Innovative Serviced Apartments – 411 units designed for modern convenience.
• Spacious Layouts – 1,033 sq ft units with 3 bedrooms, 3 bathrooms, and 2-3 car parks.
• Tailored for Modern Lifestyles – Ideal for young professionals, digital nomads, and tech entrepreneurs.
• Co-Living Ready – A community-driven environment with top-tier facilities.

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For more details, visit the Paramount Property Gallery, Batu Kawan or call 012-501 0733

The proposed Urban Renewal Act (URA), set to be tabled in June, has sparked concerns among property owners and industry experts. The Housing and Local Government Ministry’s bill sets the consent threshold for redevelopment at 80% for buildings aged 30 years, 75% for those older than 30 years, and 51% for abandoned buildings.

At the “Civic Lens: Urban Renewal Act Forum” held on Tuesday, Datuk Chang Kim Loong, secretary-general of the National House Buyers Association (HBA), questioned why 30 years was chosen as the threshold for redevelopment eligibility. He pointed out that the Public Works Department (JKR) estimates a building’s lifespan at 70 to 80 years. “If I had a bank loan of 35 years, I wouldn’t even have paid it off yet, and then you want to take my property — that’s the issue here,” he argued.

Chang also suggested that the government could more efficiently redevelop buildings owned by a single entity, such as Kuala Lumpur City Hall (DBKL), rather than focusing on privately-owned properties that require high consent levels. He further raised concerns about the URA potentially conflicting with Article 13 of the Malaysian Federal Constitution, which safeguards property rights, as well as Section 57 of the Strata Titles Act 1985, which mandates unanimous resolutions for redevelopment.

Another key issue highlighted was compensation. Prof Dr Ismail Omar, president of the Land Professionals Association of Malaysia (PERTAMA), noted that land acquisition compensation has historically been inadequate, with payouts often falling below market value. He emphasized the need for a comprehensive review of land valuation principles and legal frameworks to ensure fair compensation for affected homeowners.

While urban renewal is necessary for sustainable city development, stakeholders stress that any new law must balance redevelopment needs with property rights and fair compensation to prevent potential social unrest. As the URA moves forward, public engagement and careful revisions will be crucial to ensuring its success and acceptance.