Stonyhurst Penang International School opening in 2019

September 23rd, 2017 10 comments
Stonyhurst College

Stonyhurst College

The Penang State Government, Stonyhurst College, and LAPIS announced on 16 Sept the development of Stonyhurst Penang International School in Seri Tanjung Pinang, Tanjong Tokong, Penang, Malaysia. It will attract both international and Malaysian students from the region to study in Malaysia, in line with the Penang State Government’s vision to develop Penang as an Education Hub.

The school, which will accommodate up to 1,200 local and international pupils aged 3 to 18, will be operated by Stonyhurst College upon completion in 2019. The school will offer both a British curriculum to prepare students for entry into the best UK and international universities and some Malaysian subjects for local students.

The Chief Minister of Penang, Mr Lim Guan Eng, witnessed the signing of the key agreements on this landmark collaboration involving the Penang State Government, LAPIS, and Stonyhurst.

Head Teacher of Stonyhurst, Mr John Browne commented: “Stonyhurst College was founded in 1593 and has a proud Jesuit heritage and culture. I am honoured and moved to be part of a new chapter in its history, by signing this agreement with Chief Minister Lim Guan Eng. The opening of the Stonyhurst College in Malaysia is an historic milestone for the school and one which I sincerely hope will benefit both the community of the school and the wider community around it.”

Chairman of the Board of Governors of Stonyhurst College, Mr John Cowdall said: “As Chair of the Board of Governors, it gives me the most enormous pleasure to witness the signing of the agreement which will allow Stonyhurst College to have a presence in Malaysia. The Board of Governors has given this historic development a great deal of consideration and we are delighted to have reached this significant stage. We are all committed to seeing this extraordinary project come to fruition.”

Director of LAPIS, Mr Michael Sng added: “LAPIS is proud to build on its success with St Joseph’s Institution International School in Kuala Lumpur to form a partnership with Stonyhurst in Penang. This has tremendous potential as the Penang State Government continues to successfully attract high quality foreign investment”.

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Source: ICN


Categories: Tanjung Tokong Tags:

Sunshine Residence

September 22nd, 2017 9 comments


Sunshine Residence, an upcoming 38-storey serviced residence by Suiwah Group at Bandar Baru Air Itam. It is part of the masterplaned development of Sunshine Tower on the old Sunshine Farlim site.

The entire project will be over 3.7mil sq ft of gross area, spread over three blocks of 38-storey buildings. Sunshine Residence will be the first residential component offering 270 units of serviced apartments, with an indicative price ranges from RM900,000 onwards.

More details to be available soon.

Property Project : Sunshine Residence
Location : Bandar Baru Ayer Itam (Farlim), Penang
Land Tenure: Leasehold
Property Type : Serviced apartment
No. of Storey : 38-storey
Total Units: 270
Indicative Price: RM985,000 onwards
Developer : Crimson Omega Sdn. Bhd. (Suiwah Berhad)

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.)

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September 21st, 2017 8 comments


SenzVilles, an upcoming residential development by Corfield Development Sdn. Bhd. in Sungai Ara, Penang. It is strategically located next to Skycube Residence, just a mere minutes drive away from sPICE.

This development will see the construction of a 34-storey building, offering 397 residential units with size ranging from 1,080 sq.ft. onwards. Indicative selling price starts from RM480,000, come with at least 2 car parks.

Project Name : Senzvilles (formerly known as Senzo Residence)
Location :
 Sungai Ara, Penang
Property Type : Condominium
Total Units: 397
Indicative Price: RM480,000 onwards
Land Tenure : Freehold
Developer : Corfield 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.)
Marketing Agents:
  • 016-430 0006 (Goh)
  • 012-410 7780 (Ms. Goh)
  • 012-427 8545 (June Goh)

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Most developers harbour pessimistic sales outlook

September 21st, 2017 No comments

FuturelaunchMost developers are pessimistic on future sales performance, with 76% out of 153 respondents anticipating that their sales will be below 50% in 2H2017 and 1H2018, according to a survey by the Real Estate Housing Developers Association (Rehda) titled “Property industry survey 1H17 and market outlook for 2H17/1H18” in Peninsula Malaysia.

Rehda president Datuk Seri FD Iskandar Mohamed Mansor said 48% of the respondents planned to launch a total of 17,535 units of properties in 2H2017.

Among the 17,535 properties, 9,647 are high-rise residential properties, 7,386 are landed houses and 502 are commercial properties.

As purchasers are taking a longer time to secure their loans and market sentiment remains weak, a majority of the developers are taking a conservative view of the performance of future launches.

The survey results showed that 39% of respondents expected sales in 2H2017 and 1H2018 to be around 26% to 50%, while 17% expected sales to stay below 25%.

Despite this, 16% of the respondents anticipated future sales to be around 51% to 75%, while 2% are optimistic about achieving above 75% sales in 2H2017 and 1H2018.

Meanwhile, as developers anticipate dampened market sentiments to extend to next year, most of them are adopting flexible pricing strategies to attract buyers.

For instance, the survey showed that Penang developers tend to lower the selling price range to RM250,001 to RM500,000, from RM500,001 to RM1 million in 1H2017.

In terms of market outlook, 48% of respondents have a pessimistic view of 2H2017 and 37% of respondents remain negative on the property market performance in 1H2018.

Besides this, the survey also revealed that 45% of property purchasers in 1H2017 are first-time homebuyers, followed by upgraders at 33%.

FD Iskandar noted that most buyers are buying for their own stay, upgrading homes or buying for family members.



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E&O targets to launch STP 2A in early 2019

September 21st, 2017 No comments

stp2-designEastern & Oriental Bhd expects a strong financial performance this year from the ongoing sale of its properties and the planned disposal of several major non-core assets.

The property developer has RM840.6mil in unbilled sales, which will be recognised progressively over the next two years.

It has also identified seven non-core assets including several parcels of land and retail malls to be divested.

Group MD Kok Tuck Cheong pointed out the group would also be recognising profit from the disposal of a portion of the company’s Seri Tanjung Pinang phase 2 (STP2) project in Penang to Kumpulan Wang Persaraan (Diperbadankan) (KWAP) for RM766mil.

As for the following year, the group targets to launch its developments for the SPT2A projects in early 2019, which Kok said will significantly contribute to its earnings thereafter.

STP2A is the first phase of the 760-acre STP2 reclamation project on the northeast coast of Penang island.

Kok said they had already applied for land titles, with the first batch of titles expected to be issued by the end of the year.

“Our target is to launch the project by early 2019. Following this, there will be significant contribution to the group’s earnings,” he told reporters after the group’s AGM here on Tuesday.


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