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AFFORDABLE: Sungai Dua / PTL Residence Sdn. Bhd.

Butterworth/ 28 September 2022 No comments

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A newly proposed affordable housing development by PTL Residence Sdn. Bhd. at Sungai Dua in Butterworth. Located near Jalan Sungai Dua Utama 3, just stone’s throw away from SK Desa Murni. It is less than 2km from Butterworth Outer Ring Road (BORR) / North South Expressway (NSE) interchange, about 15 minutes drive to Penang Bridge. Neighboring communities include Taman Sungai Dua Utama, Taman Casa Maya and Casa Utopia.

This development comprises a 17-storey condominium with 4 levels of car parking podium. It offers 357 affordable units with a standard bulit-up size of 950sq.ft. Proposed facilities include a hall, swimming pool, gymnasium and a few others.

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

READ MORE ABOUT AFFORDABLE HOUSING:

Project Name : (to be confirmed)
Location : Sungai Dua, Butterworth
Property Type : Affordable housing
Tenure: (to be confirmed)
Land Area: (to be confirmed)
Built-up Size: 950sq.ft.
Total Units : 357
Indicative Price : RM250,000 onwards (affordable housing price guide)
Developer : PTL Residence Sdn. Bhd.

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DISCLAIMER: This article is solely based on research done using publicly available data. This is not an advertisement. Any claim, statistic, quote or other representation about a project or service should be verified with the developer, provider, or party in question.

High-rise owners urge Penang govt to review homestay restrictions

Property News/ 27 September 2022 No comments

A homestay owners’ group has joined calls for the Penang government to reconsider the proposed restrictions on short-term rental accommodation in high-rise buildings.

The Malaysian Association of Homestay (Short-Term Rental) Practitioners said the restrictions, including a cap of 180 rental days a year, limited options for travellers looking for affordable accommodation and would make it hard for owners to pay off their housing loans.

“Our apartment buildings were specifically built for the purpose of leasing,” its president, Lydia Tan, said in a statement.

“We were promised by developers that our apartments can be leased out legally, and we pay all tariffs and taxes at a commercial title rate.

“In addition, the proposed rental cap of 180 days a year and three days a week are hardly ideal for short-term rentals when it is the top choice of travel accommodation for international and domestic travellers.”

Tan said short-term rentals have contributed significantly to the state’s tourism in the past decade, and legalisation of any industry should be discussed with all stakeholders to find a middle ground.

She said the homestays have helped mitigate the issue of vacant properties in the state and created jobs for local residents.

“Together, we should support and sustain Penang’s tourism, rather than stamp out an industry which has contributed so much to our local tourism sector,” she said.

The group joins global hospitality company Airbnb, which urged the Penang government to reconsider proposed limits on homestays last month.

Aside from the 180 nights a year cap, the state had proposed that homestays in commercial strata buildings be prohibited unless 75% of owners were present at a general meeting to vote to allow homestays in their buildings.

State housing committee chairman Jagdeep Singh Deo said the ban would manifest in the form of a “guideline”, which will be passed to local councils for enforcement.

Source: FreeMalaysiaToday.com

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SITE PROGRESS: Celesta Residency (Sep 2022)

Property News/ 26 September 2022 No comments

celesta-residency-site-progress-sep2022-3

About Celesta Residency

Mixed development by Red Blue Development Sdn. Bhd. (TGB Group) in the established township of Sungai Nibong. Strategically located along Jalan Sultan Azlan Shah, diagonally opposite three public schools, namely SRJK(C) Kwang Hwa, SRJK(C) Shih Chung and SMK Sungai Nibong. It features a mix of residential and commercial components.

Find out more about Celesta Residency

Register your interest here for updates on this project and other property news

(This information will be used to keep you updated on the project and future development.)
*By submitting this Form, you hereby agree to our PDPA Consent Clause.

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

Property News/ 24 September 2022 3 comments

kpkt-hopes

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

thriven-acquire-land-in-butterworth

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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