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Homebuyers in the Penang to benefit from KPKT’s Home Ownership Programme (HOPE)

Property News/ 24 September 2022 No comments

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Property buyers in the northern states of Malaysia are in for a treat, as the housing and local government ministry recently launched Karnival Jom Beli Rumah Wilayah Utara, in conjunction with the Home Ownership Programme (HOPE).

The carnival is taking place from Sept 23-25 at Millenium Dewan Square, Kepala Batas, Penang, and is organised by the housing and local government ministry in collaboration with Perbadanan PR1MA Malaysia (PR1MA).

Housing and local government minister Reezal Merican Naina Merican noted that developers and financing institutions would be offering homeownership promotions on over 92,000 unsold units in the northern region.

This includes more than 5,200 residential units consisting of the Malaysia Civil Servants Housing Programme (PPAM), SPNB Residences, PR1MA and Rumah Mesra Rakyat Keluarga in Penang.

Additionally, potential first-time homebuyers looking for a property in Penang, Perak, Kedah and Perlis can take advantage of various incentives provided by the government.

Keluarga Malaysia Home Ownership Initiative (i-MILIKI)

Homebuyers who successfully complete the Sale and Purchase Agreement (SPA) from June 1, 2022 to Dec 31, 2023 will receive a stamp duty exemption incentive, applied to instrument of transfers and loan agreements.

  • 100% stamp duty exemption for first home purchases of RM500,000 and below
  • 50% stamp duty exemption for first home purchases between RM500,001 and RM1 million

i-Biaya: Under this scheme, potential first-time homebuyers, especially those in the gig economy, traders and entrepreneurs with no pay slips, can apply for housing financing through the Syarikat Jaminan Kredit Perumahan (SJKP) initiative, Skim Rumah Pertamaku (SRP) and Rent-To-Own (RTO) PR1MA.

Ultimately, the aim of the ministry is to continue providing quality, affordable housing for all Malaysians. This culminates in the ministry’s goal of achieving 500,000 units of affordable housing as stipulated under the 12th Malaysia Plan.

Following the launch in Penang, Karnival Jom Beli Rumah will continue in the east coast and southern region, before wrapping up in Sarawak and Sabah.

Source: FreeMalaysiaOnline.com

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Thriven buys apartment land in Penang for RM21mil

Property News/ 23 September 2022 3 comments

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Thriven Global Bhd is acquiring 4,700 sq metres of freehold land in Butterworth that has been approved for the development of serviced apartments.

The group’s subsidiary, Bukit Punchor Development Sdn Bhd, is buying the land from Star Sanctuary Land Sdn Bhd for RM21 million, the property developer said in a bourse filing.

Of the sum, RM13.88 million will be set-off against the payment to be made by Star Sanctuary to Mayfair Ventures Sdn Bhd, another subsidiary of Thriven.

This is in respect of Star Sanctuary’s purchase of 12 units of service apartment and one SoHo (small office, home office) in Lumi Tropicana, Petaling Jaya from Mayfair.

Thriven said the acquisition is expected to be completed within three months and is expected to contribute positively to the future earnings of the group.

Thriven’s share price closed unchanged at 13.5 sen on Thursday (Sept 22), bringing it a market capitalisation of RM73.8 million.

Source: EdgeProp.my

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Stonyhurst International School set to welcome first batch of students on Sept 26

Property News/ 23 September 2022 No comments /中文版

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Stonyhurst International School in Straits Quay will be welcoming some 300 students in its first year, with the first term starting on Sept 26.

Chief Minister Chow Kon Yeow, after inspecting the school yesterday, said the opening of the international school in Penang would mark one of the most significant milestones in the over 400-year history of Stonyhurst College, United Kingdom, and in Penang.

“The sister school in the United Kingdom, Stonyhurst College, was founded in Saint-Omer, near Calais, in 1593, and is the oldest continually active Jesuit school in the world,” Chow said.

Speaking about the international school in Straits Quay, Chow said it would be a co-educational day school for students aged three to 18 from all religious groups and secular belief systems.

“With children from over 24 countries, the cultural diversity will add to the richness and global outlook of the school community and the state.

“It has the capacity for 1,200 students and will soon offer boarding facilities to accommodate up to 360 boarders,” Chow added.

Built on 4.3 acres of land, Stonyhurst International School boasts state-of-the-art facilities, designed with 21st-century teaching and learning pedagogy in mind.

Students will have access to academic, theatre, music, and sporting facilities which include an AstroTurf field, an eight-lane 25m swimming pool, a learners pool, a multipurpose hall, dance studio, dedicated junior and senior school libraries, an art gallery and a 530-seat auditorium.

Chow said the project was initiated by the Penang government through a Request for Proposal (RFP) by Chief Minister Incorporated (CMI).

“A concession agreement was inked in September 2017. The firm which designed and built the school, VERITAS Design Group, is one of the world’s leading integrated multi-disciplinary design firms.

“The construction of the international school costs over RM100 million. The construction works started in December 2019, were delayed because of the Covid-19 pandemic, and were completed this year,” Chow said.

He said that the Penang government looked forward to the opening of the international school which would bring about the provision of quality primary and secondary international education.

Source: Buletin Mutiara

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First digital library in Bukit Mertajam to be ready in 2024

Property News/ 21 September 2022 No comments /中文版

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The Penang government, through the Chief Minister Incorporated (CMI), and Jit Sin School Union Bukit Mertajam have inked a partnership to establish the very first Penang Digital Library (PDL) in Bukit Mertajam and the central Seberang Perai district.

The upcoming digital library or better known as the Bukit Mertajam Digital Library will be located at the three-storey building of the Jit Sin School Union Bukit Mertajam.

It is understood that the renovation works will start next year and are expected to be fully completed in 2024.

Chief Minister Chow Kon Yeow, who was present during the brief signing of the Memorandum of Understanding (MoU) between the two parties, said the upcoming digital library would surely benefit Penangites, particularly the residents of Bukit Mertajam.

“The upcoming digital library will provide a community-accessible platform for information, creativity, knowledge, and technologies, as well as, a space for connection and interaction.

“It is also an excellent example of community engagement by Jit Sin School Union Bukit Mertajam.

“I would like to note that Jit Sin School Union initiated the establishment of this digital library on its own initiative.

“The organisation approached the state government with the intention to corporate and collaborate with CMI, to set up the first digital library in Bukit Mertajam for the benefit of the people in the vicinity.

“As a result, here we are today, marking an important chapter in the Penang Digital Library journey. This is truly a fine example of strong collaboration between the state government and the non-governmental organisation (NGO),” Chow said during his speech at the MoU signing ceremony at Jit Sin School Union building, Jalan Sri Bukit in Bukit Mertajam.

The CMI was represented by its deputy general manager Bharathi Suppiah and Jit Sin School Union Bukit Mertajam was represented by its Bukit Mertajam Digital Library committee chairman Datuk Ng Wah Sim during the MoU signing.

According to Bharathi, today’s MoU was executed pursuant to the mutual understanding and consensus between CMI and Jit Sin School Union in establishing, organising and managing the Bukit Mertajam Digital Library.

“In this agreement, CMI will provide technical assistance and support including copyrights, license, grant, access, loyalty fees on software, e-books, database and e-card installed in this digital library.

“CMI will also continuously provide advice, information and assistance relating to the operation and management of the digital library,” she said.

Ng said Jit Sin School Union, on the other hand, was committed to the partnership and would provide the premises, infrastructure and necessary utilities for the digital library.

“Since the Bukit Mertajam Digital Library will be operated in our premises in Jalan Sri Bukit in Bukit Mertajam, we will need to obtain the necessary permits and approvals to upgrade and refurbish the existing premises.

“We are committed to establishing the digital library based on the guidelines given by CMI and continue to fund the maintenance of the building and hardware infrastructure,” he said.

Chow said that the Penang government has allocated a special grant of RM300,000 to be given to the Jit Sin School Union Bukit Mertajam to help them set up the digital library.

He said the upcoming digital library in Bukit Mertajam would be the sixth digital library in the state.

“And we hope it will continue to carry out the state government’s initiatives to promote and develop STEM (Science, Technology, Engineering, Mathematics) teaching and learning to position Penang as one of the leading centres of excellence in this field.

“After this MoU signing ceremony, Jit Sin School Union will have many tasks to complete, hence, I would like to urge all residents of Bukit Mertajam to provide their full support, including financial assistance, so that they can succeed in their efforts.

“Just like the existing digital libraries, this facility will be fully utilised in the future by students, professionals and citizens of the central Seberang Perai district; driving forward a smart and technologically-advanced ecosystem and community,” said Chow.

Source: Buletin Mutiara

Penang Affordable Housing Expo 2022 @ Prangin Mall (October 7-9)

Property News/ 20 September 2022 3 comments

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Penang State Housing Board (LPNPP) will be organizing Penang Affordable Housing Expo (Home Ownership Campaign) from October 7 to 9 at Prangin Mall in George Town.

The expo will feature various affordable housing projects located in Penang Island and Mainland, including completed units under construction by PDC, SP Setia, Scientex, PLB Land, Prisma Bumiraya, MSummit, Hunza and many more!

Visitors will also have the chance to find out more information related to the application for affordable homes in Penang.

If you are looking for an affordable dream home in Penang, be sure to mark your calendar and plan a visit to Prangin Mall and join the Penang Affordable Housing Expo.

Date: 7 – 9 Oct 2022 (Fri – Sun)
Venue: Foyer, Prangin Mall (George Town)
Time: 10am – 8pm

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