SITE PROGRESS: GEM Residences (Jun 2024)

Property News/ 19 June 2024 No comments


About GEM Residences

GEM Residences, a commercial development by Belleview Group at Prai, Penang. It is part of the company’s 6 hectares mixed development along Jalan Baru, diagonally opposite Megamall Penang. Next to it will be the upcoming largest mall in the northern region – GEM Mall, the tenant mix include SOGO (first and largest departmental store in the northen region at 212,000 sq.ft.) and a supermarket (largest at 50,000 sq.ft.).

Find out more about GEM Residences

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Revamped MM2H now open for applications

Property News/ 18 June 2024 No comments


The revamped Malaysia My Second Home (MM2H) programme, requiring agents and overseas counterparts to register, is now open for applications, says Datuk Seri Tiong King Sing.

The Tourism, Arts and Culture Minister said the latest version of the MM2H programme has three tiers which prospective applicants could apply for, depending on their financial standing.

Under the Platinum tier, participants must have a fixed deposit of RM5mil (approximately US$1.05mil). After one year, a maximum withdrawal of 50% is allowed for property purchases (with a minimum value of RM1.5mil and above), healthcare and domestic travel within Malaysia.

The Gold tier sets the fixed deposit requirement at RM2mil (approximately US$420,800) with similar withdrawal provisions for property purchases (minimum value of RM750,000 and above), healthcare and domestic travel.

The Silver tier requires RM500,000 (approximately US$105,000) in fixed deposit with similar withdrawal provisions.

Irrespective of the chosen tier, all participants must fulfil the minimum requirement of residing in Malaysia for a cumulative total of 60 days annually.

On the new requirements for agents and overseas counterpart agencies, Tiong said they must register with the ministry to allow them to charge foreigners consulting or service fees.

This decision is part of the ministry’s bid to regulate MM2H programme agents and consultancy firms, he said.

“We want MM2H agents to be responsible for their services and not charge arbitrarily. There have been complaints in the past about agents charging between RM10,000 and RM100,000, with some lacking physical offices.

“Hence, we decided to re-register these agencies.

“Agents will be allowed to charge fees based on different application categories. Those who fail to provide adequate services or violate regulations will face fines and registration cancellation.

“Any agent found charging excessive fees will be fined and will be required to refund the excess to the applicants. Their licence will also be cancelled,” Tiong said at a Tourism Malaysia event on Friday.

Among the new conditions to obtain a business licence to operate an agency under the MM2H programme is a higher capital from RM50,000 to a minimum of RM200,000. The annual licence fee is RM2,500.

The business premises must have a valid address and companies are required to provide a bank guarantee of RM200,000. They must also establish contracts and register representatives for companies, which may include foreign businesses or individuals.

Source: TheStar.com.my


SJK(C) Boon Beng seeks funds for infrastructure projects


Due to a significant increase in pupil enrollment over the years, SJK(C) Boon Beng in Sungai Bakap is currently raising funds to build a new school building and multipurpose hall.

Headmaster Tan Saw Hoon stated that the proposed new school building and multipurpose hall would be constructed on the existing school field.

“Meanwhile, the small piece of land beside the school will be converted into the new school field. The estimated cost for these projects is around RM10 million.

“We plan to organise more charity programmes to raise the necessary funds, which we expect to achieve within two years.

“We also urge the corporate sector and the public to assist us in this endeavour.

“With the new school building and multipurpose hall, we can provide a better learning environment for our pupils,” Tan told Chief Minister Chow Kon Yeow during his visit to the school on Friday.

Tan also expressed gratitude to the Nibong Tebal parliamentary service centre for its RM50,000 contribution.

Meanwhile, Chief Minister Chow stated that the Penang government would consider providing a special allocation to SJK(C) Boon Beng for these projects.

“We commend the school’s efforts in their commitment to raising funds. Although it may take a few years, I hope the school management will succeed in reaching their fundraising goal.

“I urge the Ministry of Education (MoE), related Federal and state departments, corporate sectors, non-governmental organisations (NGOs), and good Samaritans to assist SJK(C) Boon Beng in its construction project for the new school building and multipurpose hall,” he said.

Also present were Deputy Chief Minister I Datuk Dr Mohamad Abdul Hamid, Bukit Tambun assemblyman Goh Choon Aik, Batu Kawan parliamentary service centre director Ewe Chee Way, Chow’s political secretary Lau Keng Ee, unity government’s Sungai Bakap candidate Dr Joohari Ariffin and SJK(C) Boon Beng Board of Directors chairman Ma Chai Long.

Source: Buletin Mutiara


MBPP opens online applications for market stalls

Property News/ 16 June 2024 3 comments


Online applications for renting stalls at Penang Island City Council (MBPP) markets, food complexes, and hawker sites for June is now open from June 15 to 23.

MBPP councillor Tan Soo Siang stated that applicants who do not register during this period will not be eligible for the online interview session.

“This session offers 126 vacant stalls across 23 locations.

“The Taman Terubong Jaya Market and Teluk Bahang Market have the highest number of vacancies.

“The fish section has the most vacancies, with 26 stalls available across nine markets, except for Jalan Permai Market and Jalan Tengku Market,” Tan said this morning.

Tan also mentioned that rental costs range from RM6 to RM200, depending on the type of stall.

At the press conference held at the Licensing Department near Jalan Padang Kota Lama, Tan reported that the previous interview session in May received 273 applications. Of these, 24% were successful, 56% were unsuccessful, and 20% were absent.

“Applicants are advised to ensure stable internet connectivity, choose a suitable location for the online interview, dress appropriately, and be on time,” Tan added.

For further details, visit the website at https://ulesen.mbpp.gov.my/ or contact the Licensing Department at 04-263 8818.

Source: Buletin Mutiara


AFFORDABLE: Bukit Mertajam / PTL Properties Sdn. Bhd.

Bukit Mertajam/ 14 June 2024 No comments


A newly proposed affordable housing development by PTL Properties Sdn. Bhd. in Bukit Mertajam. Strategically located near the ever bustling Jalan Song Ban Kheng, within the vicinity of Taman Bukit Kecil. It is just a stone’s throw away from SJKC Beng Teik, with abundance of essential amenities within 2km radious.

The development will feature a 34-storey apartment building with 420 affordable housing units, each measuring 950 sq. ft. The ground floor includes 8 commercial spaces, providing convenient retail options for residents. A multi-level parking facility spans from the ground floor to the 6th floor, ensuring ample parking space. Additionally, the development boasts various amenities such as a community hall, swimming pool, gym, and more.

The project is still in its planning stage and more details will be available upon official launch.


Project Name : (to be confirmed)
Location : Bukit Mertajam
Property Type : Affordable housing
Tenure: (to be confirmed)
Land Area: (to be confirmed)
Built-up Size: 950 sq.ft.
Total Units : 420
Indicative Price : RM250,000 onwards (affordable housing)
Developer : PTL Properties 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.