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UPCOMING: Sungai Bakap / KY Maju Development SB.

Sungai Bakap/ 20 October 2021 No comments

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Proposed residential development by KY Maju Development Sdn. Bhd. near Valdor in Sungai Bakap. Located off Jalan Ketitir, accessible via Jalan Valdor. The project location is about 10 minutes drive from Batu Kawan Industrial Park, about 15 minutes drive to Bukit Tambun Toll Plaza. It is surrounded by matured communities with essential amenities within 2km.

This development will feature 34 units of 2-storey terrace and 12 units of 2-storey terrace houses.

The project is still pending approval. More details to be available upon official launch.

Project Name : (to be confirmed)
Location : Sungai Bakap
Property Type : Residential
Tenure: (to be confirmed)
Built-up Size: (to be confirmed)
Total Units : 34 (3-storey terrace), 12 (2-storey terrace)
Indicative Price : (to be confirmed)
Developer : KY Maju Development Sdn. Bhd.

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SITE PROGRESS: Fairview Residence (Oct 2021)

Property News/ 18 October 2021 No comments

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About Fairview Residence

Affordable housing development at Sungai Ara, Penang. Strategically located next to Setia Pinnacle by SP Setia, about 10 minutes drive away from Setia SPICE. This is a joint venture development between BSG Property and VST Group. It features 34-storey condominium offering 750 units of affordable housing, with a standard built-up size of 970 sq.ft.

Find out more about Fairview Residence

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NHC to ensure a centralised public and affordable housing industry

Property News/ 16 October 2021 2 comments

ideal-regency-offer-letter-handover

The Local Government and Housing Ministry is currently conducting an extensive research on the proposed National Housing Corporation (NHC).

Its minister Datuk Seri Reezal Merican Naina Merican said the objective to have the NHC was to ensure a centralised and standardise public and affordable housing industry for easier monitoring.

“Currently, we have 15 different agencies handling public and affordable home matters.

ideal-residency-ai“We want to consolidate all the 15 agencies under NHC to secure more targeted strategies,” he told a press conference after presenting the Ideal Residency affordable housing offer letters to the eligible applicants today.

Reezal Merican said RM3 million has been allocated for the extensive research of NHC.

“The period for the research is two years,” he said.

Separately, he said that he planned to proposed to the Federal Government to consider a MyHome 2.0 scheme.

“We need the Federal Government’s intervention or a facilitation fund to encourage developers to build more affordable homes,” he said.

Chief Minister Chow Kon Yeow welcomed the minister’s effort to consolidate the various Federal Government agencies that were handling public and affordable home matters.

“We hope that the ministry will also engage the stakeholders and consider their views. The Penang government is willing to cooperate and provide its input,” he said.

In his speech, Chow said the percentage of bank loan approvals for the year 2020 has reduced as compared to 2019.

“According to the HousingWatch.my portal, the percentage of bank loan approvals has decreased by 1.1% last year. It was 72% as at December 2020 as compared to 73.1% in 2019. This is the nationwide phenomenon.

“As for Penang, the percentage of bank loan approvals for the year 2020 has reduced by 1.2% last year. It was 73.1% as at December 2020 as compared to 74.3% in 2019,” Chow said.

Chow hoped that the Federal Government and the bank institutions could jointly address the matter.

State Local Government, Housing, Town and Country Planning Committee chairman Jagdeep Singh Deo renewed the state’s commitment not to increase the price for low-cost (LC) and low medium-cost (LMC) homes.

“We want the Local Government and Housing Ministry to look into the matter.

“This is because there are states that have increase the price of their LC and LMC homes.

“We have to protect the people. That is our job,” he said.

Jagdeep thanked ministry for planning to build two People’s Housing Projects (PPRs) in Penang.

“I hope that the ministry can reconsider building five PPRs in Penang. Penang does not only consist of the island and the mainland, it consists of five districts,” he said.

Also present were Bukit Gelugor MP Ramkarpal Singh, Deputy State Secretary (Development) Datuk Azhar Arshad, PR1MA Malaysia chief executive officer Datuk Mohd Nazri Shariff and Ideal Property Group chief operating officer Datuk Goh Teng Whoo.

Source: Buletin Mutiara

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Hotayi BK2 expansion project at Batu Kawan

Property News/ 16 October 2021 No comments

hotayi-bk2-expansion

Another milestone is on the way for Hotayi Electronic (M) Sdn Bhd as they celebrated the groundbreaking ceremony of a new plant called ‘Hotayi BK2’ in Batu Kawan today.

Founded in 1992, the company is hopeful of celebrating not one but two achievements next year, which is its three decades of existence and expected completion of the new plant in April.

It was learnt that Hotayi will be investing a total of RM300 million on this expansion project.

Chief Minister Chow Kon Yeow, who officiated the groundbreaking ceremony, commended Hotayi on their latest project and was impressed that the new plant would be equipped with smart, green and nature-friendly concept.

He also went down memory lane, recalling when he witnessed the opening of ‘Hotayi on the Hill’ project in 2019.

“Two years ago, I was here for the opening of ‘Hotayi on the Hill’, and today, I’m glad to be here again to be part of the next step in making this latest expansion project a reality.

‘I am also pleased to see Hotayi continue to flourish here in Penang and is now one of the global leading Electronics Manufacturing Services (EMS) companies in Malaysia.

“Following Taiwan’s new southbound policy, Hotayi made the bold decision in 2017 to expand its production here, creating new jobs and strengthening strategic partnerships with clients in this region.

“I understand that through this new expansion project, Hotayi is expected to create some 600 high value jobs upon completion in April 2022.

hotayi-speach“The company has been actively cultivating engineering talents and skilled workers, and this new expansion project will undoubtedly broaden this effort and further sharpen the competitiveness of the local workforce,” Chow said during his speech at the groundbreaking ceremony in Batu Kawan today.

Meanwhile, Hotayi chairman Datuk Seri Lee Hung Lung expressed his profound gratitude to the state government, contractors and relevant parties for making the expansion project a reality.

“It would not have been possible without the collective effort by all these groups of people.

“They made it happen.

“Despite the growing concerns and uncertainties due to the Covid-19 pandemic, the decision to expand was a tribute to the hard work of everyone”, Lee said during his speech.

Representative from the Taiwan Economic and Cultural Office, Dr Lien Yu-Ping, said that Malaysia and Taiwan have maintained a very strong economic relationship over the years.

“Today’s event is a proof that these two countries share a strong bond with one another.

“Penang is a popular hub filled with high-tech individuals, working and contributing immensely in the electrical and electronics industry.

“It is hoped that despite the current challenges in the form of Covid-19, may this new plant be a platform to hire high-performing individuals and may they all continue to flourish in their respective roles,” Lien said.

Separately, Chow also said Hotayi shares the vision of nurturing talent, particularly in the field of STEM (Science, Technology, Engineering and Mathematics).

“They have been very supportive of the projects that spur interest in STEM amongst the young generation by contributing to the Tech Dome Penang Project.

“In addition, they have also been actively involved in social charity activities, education and medical care, especially for those affected by this Covid-induced mayhem,” he added.

Also present during the ceremony were State Speaker Datuk Law Choo Kiang, Batu Kawan MP Kasthuriraani Patto, Bukit Tambun assemblyman Goh Choon Aik, Seberang Perai City Council (MBSP) mayor Datuk Rozali Mohamud, Penang Island City Council (MBPP) mayor Datuk Yew Tung Seang and InvestPenang chief executive officer Datuk Loo Lee Lian.

Source: Buletin Mutiara

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SITE PROGRESS: Wellspring Residences (Oct 2021)

Property News/ 15 October 2021 No comments

wellspring-residences-site-progress-oct2021-2

 

About Wellspring Residences

A high-rise residential development by Airmas Group in Butterworth. Located near Jalan Telaga Air, next to Telaga Emas Apartment by the same company. It is about 500 meters away from the ever-bustling Jalan Raja Uda, and only a 5 minutes drive to Penang Sentral. This development comprises a 21-storey condominium, featuring 144 residential units with built-up sizes ranging from 1,070 sq.ft. – 1,260 sq.ft.

Find out more about Wellspring Residences

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