UPCOMING: Butterworth / Airmas Group

August 23rd, 2017 No comments

proposed-airmas-group-butterworth

Another proposed residential development by Airmas Group at Butterworth. Strategically located along Lorong Kubur, about 500 meters away from the ever bustling Jalan Raja Uda. It is only 5 minutes’ drive to Penang Sentral, under 20 minutes to Penang Bridge.

The proposed development will see the construction of a 20-storey condominium, 4 units of semi-detached houses and a 2-storey shop office.

This project is still pending for approval, more details to be available upon official launch.

Property Project : (to be confirmed)
Location : Butterworth
Property Type : Condominium, semi-detached & shop office
Tenure: Freehold
Total Units : 144 (condo), 4 (semi-d), 1 (shop office)
Indicative Price : (to be confirmed)
Developer : Airmas Development Sdn. Bhd.

Register your interest here

(This information may be used by the developer or their appointed agent to initiate follow-up communications with you on the project.)

Location Map:

 

Ewein scraps plan to buy Penang land from Consortium Zenith

August 23rd, 2017 10 comments
Ewein Zenith is developing City of Dreams twin residential blocks in the Seri Tanjung Pinang neighbourhood.

Ewein Zenith is developing City of Dreams twin residential blocks in the Seri Tanjung Pinang neighbourhood.

In a filing with Bursa Malaysia on Tuesday, the property developer and sheet metal fabricator said its 60%-owned subsidiary and CZ (previously Consortium Zenith BUCG Sdn Bhd) had mutually terminated their sale and purchase agreement (SPA) for the 4.4252-acre (1.79ha) land in Section 1, Tanjung Pinang.

They also agreed to release and discharge each other from the rights, liabilities and obligation contained in the SPA subject to the terms and conditions in the termination agreement.

“The parties have mutually agreed to terminate the SPA because the land alienated is approximately 2 acres only which is a substantial reduction in the size of the subject land referred to in the SPA,” Ewein said.

The announcement did not explain why the size of the alienated land had been reduced.

Ewein said within three months, CZ, which owns the remaining 40% stake in Ewein Zenith II, would refund to Ewein Zenith II the deposit of RM16.2mil with interest at a mutually-agreed rate.

It was reported that CZ would receive a total of 44.5ha of freehold reclaimed land in Tanjung Pinang from the state government for undertaking the Penang mega project.

Ewein Zenith II signed the agreement to buy the 1.79ha parcel from CZ for RM162mil in December 2015.

The following month (January 2016), Ewein’s other 60%-owned property development subsidiary Ewein Zenith Sdn Bhd inked a memorandum of agreement with CZ to grant Ewein Zenith the right to buy three parcels of land totalling 50 acres (20.23ha) at Tanjung Pinang at RM1,300 per sq ft.

The 50-acre land was earmarked for the development of the Wellness City of Dreams project, which includes a wellness resort and wellness apartments, among others.

The parties agreed for the said land to be further divided into ten parcels of land and that they would enter a separate SPA for each parcel..

Ewein noted that it had aggregated the proposal together with the proposed land acquisition inked in December 2015 and treated them as if they were one transaction, as both transactions were entered into with the same party within a period of 12 months.

Source: TheStar.com.my

 

Categories: Property News Tags:

Project by Publicity Development

August 21st, 2017 No comments

publicity-development

An ongoing residential development by Publicity Development Sdn. Bhd. at Bertam. Located along Jalan Kubang Menerong, about 2km away from Bandar Putra Bertam. Driving to Penang bridge during off peak hours will take approximately 30 minutes.

This development comprises a mix of landed properties, with an indicative price starting from RM257,000 onwards:

  • Single storey semi-detached (22 units)
  • Single storey terrace (31 units)
  • 1.5-storey semi-detached (12 units)
  • 1.5-storey terrace (9 units)

Property Project : (to be confirmed)
Location : Bertam
Property Type : Semi-D & Terrace
Tenure: Freehold
Total Units : 74
Indicative Price : RM257,000 onwards
Developer : Premium Flame Development Sdn. Bhd.

Register your interest here

(This information may be used by the developer or their appointed agent to initiate follow-up communications with you on the project.)

Location Map:

 

 

Categories: Bertam Tags: ,

AFFORDABLE: Bukit Tengah / Pegasus Homes Sdn. Bhd.

August 20th, 2017 No comments

affordable-pegasus-homes-bukit-tengah

Newly proposed affordable housing by Pegasus Homes Sdn. Bhd. at Bukit Tengah. Strategically located along Jalan Bukit Tengah, just a stone’s throw away from Bukit Tengah roundabout. It is only 5 km away from Penang Bridge and Bukit Mertajam Town Center.

This development comprises a 33-storey condominium, offering 650 affordable units. Estimated selling price is around RM250,000.

The project is still pending for approval, more details to be available upon official launch.

Property Project : (to be confirmed)
Location : Bukit Tengah, Bukit Mertajam
Property Type : Affordable housing
Tenure: Freehold
Total Units : 650
Indicative Price : RM250,000 (estimated price for affordable housing)
Developer : Pegasus Homes Sdn. Bhd.

Register your interest here

(This information may be used by the developer or their appointed agent to initiate follow-up communications with you on the project.)

Location Map:

 

PM expresses government commitment over affordable housing

August 17th, 2017 5 comments

casa-anggun-completingPrime Minister Datuk Seri Najib Abdul Razak today expressed the government commitment to continue to focus on providing more affordable housing for the low- and middle-income groups.

He said the concept of comprehensive and holistic development was most necessary to ensure that these groups had the capacity to own equity.

“It is for this reason that I recently changed the original criteria to the concept of well-being transformation. When we emphasise well-being transformation, it involves the question of property ownership.

“For me, property ownership is more meaningful than equity ownership for an individual because land is a substantial asset of value to our families.

“As such, we see housing development not solely from the perspective of an economic project but in the concept of development of the people and development of bumiputras based on the well-being concept,” he said during a visit to the Casa Anggun housing project in Sungai Nibong here.

The second phase of the project involved the construction of 340 units of medium-cost houses of 800 to 900ft² at the starting sale price of RM324,000, twenty percent cheaper than the market price, and which were sold out in two days.

Penang Federal Action Council chairman Datuk Seri Zainal Abidin Osman, Penang Barisan Nasional chairman Teng Chang Yeow, Deputy Health Minister Datuk Seri Dr Hilmi Yahaya and Deputy Foreign Minister Datuk Seri Reezal Merican Naina Merican were also present during the visit.

Najib said the housing agenda was accorded high priority now because the people wanted and desired affordable houses.

“From the time I took over the leadership of the country in 2009, we assessed what the people wanted and realised that they wanted affordable houses. Affordable houses are close to the people’s hearts. As such, we committed ourselves to building one million affordable houses in the whole country,” he said.

Najib said the efforts to implement what the people wanted, covered various levels, including identifying land, either government or private, and cooperation from government agencies, for example in Penang, from JKP Sdn Bhd and the Penang Regional Development Authority (Perda).

The Prime Minister also said that government would consider an application by JKP Sdn Bhd to build 10,000 units of affordable houses on two pieces of land owned by the Agriculture and Agro-based Industry Ministry in Gelugor and Batu Maung here.

“If the Cabinet gives its approval, the project will become a reality. This is what we are doing. We want all groups to benefit,” he said.

Earlier, Zainal Abidin, in his speech, said he hoped that the government could give special consideration to the application to build 10,000 units of affordable houses for the well-being of the people of Penang.

Source: The Sun Daily

 

Categories: Property News Tags: