fbpx

Penang sets 2024 to kick-off water taxi service

Property News/ 10 December 2022 No comments
penang-water-taxi

Picture for illustration only

If all goes well, Penang will have the country’s first proper water taxi service in 2024.

State Infrastructure and Transportation Committee chairman Zairil Khir Johari said both the state government and the Penang Island City Council (MBPP) always had the intention to provide the water taxi service, especially on the island.

He said the water taxi service would serve as an alternative mode of transport to the people, especially on the island.

“The main aim is to provide an alternative mode of transport which can be utilised by the people and indirectly reduce traffic congestion on the island.

“Besides that, the water taxi service is also aimed at encouraging tourism activities in the state,” he told newsmen yesterday.

Present was MBPP mayor Datuk Yew Tung Seang.

Elaborating, Zairil said while it was hard to predict when the water taxi service would be made available as it was their first time doing so, he hoped for positive response from interested parties.

“Hopefully, those interested in the service will invest.

“The water taxi service is also a component in the Penang Transport Master Plan (PTMP),” he added.

To ensure the water taxi service comes into fruition, Zairil said the MBPP would call for a request for proposal (RFP) next week.

According to Yew, the tender for the water taxi would be called next Monday.

After a week, there would be a site briefing, he said.

“The RFP proposal will end in February next year. Thereafter, the MBPP and related agencies will evaluate the matter.

“The latter of award will be handed out in mid-2023. We expect the winning bidder to begin physical work three months after,” he said.

Yew said they had identified four sites for the water taxi service namely Straits Quay, Swettenham Pier, Pantai Jerejak and Batu Maung jetty.

“If interested companies have other suggestions, we are ready to hear them out,” he said.

Source: NST Online

Tags:

SITE PROGRESS: Vivo Executive Apartment (Dec 2022)

Property News/ 9 December 2022 No comments

vivo-site-progress-dec2022-2

About Vivo Executive Apartment

A serviced apartment within Aspen Vision City township development at Batu Kawan. It is strategically located next to the upcoming Integrated Shopping Mall, walking distance to the Central Island Park. The units will be built complete with communal co-sharing working space and a social kitchen to support the modern lifestyle of young working adults. The cheapest unit was selling at only RM237,000 during the launch in 2019.

(Photo: Nov 2022)

Find out more about Vivo Executive Apartment

Register your interest here. We will keep you updated.

*By submitting this Form, you hereby agree to our PDPA Consent Clause.
(This information may be used by the developer to initiate follow-up communications with you on the project.)

UPCOMING: Bukit Mertajam / Ontime Development Sdn. Bhd.

Bukit Mertajam/ 8 December 2022 No comments

proposed-development-by-ontime-development-sb

Proposed gated residential development by Ontime Development Sdn. Bhd. at Alma in Bukit Mertajam. Located along Jalan Kampung Manggis, adjacent to Permatang Sanctuary development by IJM. It is conveniently connected to neighboring townships via Jalan Rozhan, with an abundance of essential amenities within 5 minute’s drive.

This development will feature a guarded housing community, comprising a mix of semi-detached and bungalow houses. Type of houses include:

  • 1-storey bungalow (Type A, 53 units)
  • 2-storey bungalow (Type B, 27 units)
  • 2-storey bungalow (Type C, 41 units)
  • 2-storey semi-detached (28 units)

The project is still pending approval, there is no further detail available.

Project Name : (to be confirmed)
Location : Alma, Bukit Mertajam
Property Type : Residential
Tenure: (to be confirmed)
Built-up Size: (to be confirmed)
Total Units : 121 (bungalow), 28 (semi-detached)
Indicative Price : (to be confirmed)
Developer : Ontime Development Sdn. Bhd.

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.
LOCATION MAP
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.

Experience a Magical Christmas @ Hunza Candyland on 17 Dec

Events, Property News/ 7 December 2022 No comments

This coming Christmas, magical wonders await at PICC Sales Gallery! Hunza Candyland is a must-see highlight to unforgettable sights in Penang, where the enchanting Candy-themed displays are bound to transport you into a fairy tale of your own.

Hunza Candyland will be happening on

Date: 17 December 2022 (Saturday)
Time: 5pm to 9pm
Location: PICC Sales Gallery

Event Highlights:

  • Santa Claus & Santarina Meet & Greet
  • Find the Teddy Bear
  • Live Band Performance
  • Christmas Tunnel
  • Hand Painting & Santa Claus Origami
  • Mercedes A200 & S580e Showcase
  • Snowing Sessions
  • Amazing Prizes* awaits!

Registration Link: https://bit.ly/3Ob4DVQ

Mark your calendar for a memorable Christmas celebration with Hunza Properties.
To view show units, kindly call 04-6090688 or click here: https://wa.link/3hamlu

Year End Bonanza! Prizes Worth up to RM50,000

For a limited time, grab Muze@PICC with HOC 2.0+ now for fantastic savings!

What’s more, stand a chance to win RM50,000* worth of prizes to be won with Year End Bonanza when you Purchase Muze@PICC, The Tallest Smart Residential Building in Northern Malaysia.

Exclusive Deals*:

  • HOC 2.0+: 10% Discount! (Last Call)
  • MOT Savings
  • Saving on Legal Fee
  • Year End Bonanza Entry Ticket
  • Furnishing Packages*

*T&C Apply

Tags: , ,

Property sector improved in 2022 but high material cost and labour shortage remain a concern

Property News/ 6 December 2022 1 comment

penang properties

The real estate sector saw improvement both in terms of transactions and value this year compared with 2021, supported mainly by the resumption of economic activities across the board and the reopening of the country’s international borders.

The National Property Information Centre (NAPIC), which comes under the Valuation and Property Services Department revealed that over 188,000 transactions worth RM84.40 billion were recorded in the first half of (H1) 2022, an increase of more than 30 per cent in volume and value compared to the same period previously.

The residential property sector recorded 116,178 transactions worth RM45.62 billion in the review period, an increase of 26.3 per cent in volume and 32.2 per cent in value year-on-year (y-o-y).

Penang, Kuala Lumpur, Johor and Selangor remained as the four major states, accounting for 47 per cent of the total national residential volume.

The commercial property segment recorded 15,169 transactions valued at RM14.02 billion, up by 45.4 per cent in volume and 28.3 per cent in value compared with the same period in 2021.

Selangor contributed the highest volume and value to the national market share with 26.5 per cent in volume (4,025 transactions), and 33.5 per cent in value (RM4.70 billion).

The first half of 2022 saw more than 10,000 newly launched units, down by 66.7 per cent against 31,687 units in H1 2021.

NAPIC said 20.3 per cent of newly launched units were sold, slightly lower than the 20.6 per cent recorded in H1 2021, and 8.1 per cent in H2 2021.

Challenges

This does not mean that the sector is without challenges on the business operation side.

The industry is still plagued by price hikes of building materials and labour shortage, severely affecting productivity in both the property and construction sectors, Real Estate and Housing Developers’ Association Malaysia (REHDA) said.

Its Property Industry Survey for H1 2022 and Market Outlook for H2 2022 and H1 2023 revealed that fewer residential units were launched in H1 2022, recording a 26 per cent decline compared with H2 2021.

Sales performance was down by five percentage points from 50 per cent in H2 2021 to 45 per cent in the period under review, according to its study which surveyed 150 developers.

“REHDA has called upon the government to address these issues swiftly, as the current situation will be detrimental on various levels, including to purchasers.”

“Should these issues be addressed, we believe that H2 2023 will paint a better picture for the industry and the nation as a whole,” REHDA told Bernama.

As the global and local economies recover and open up faster post-pandemic, the real estate market particularly housing should be positive next year.

The association further said it would continue to engage with the state and the federal government to discuss housing issues that would benefit the people as it is committed to nation-building.

Digitalisation, external factors

Real estate technology group Juwai IQI said technology and digitalisation have enabled it to reach out to more customers, co-founder and group chief executive officer Kashif Ansari said.

He said the group saw sales improve by between 60 and 70 per cent compared to 2021 with buyers seeking bigger properties, which is a new trend.

A house today is not viewed only as a shelter, it is also a gym and an office. Hence, there is a preference for more space so that they can be ready for any future possibilities.

Most Gen Y and Z nowadays also want their own property rather than share a unit because they want privacy, Kashif said.

On the external factors that could affect the sector, he said: “Although the United States (US) interest rate hikes have slowed down, globally, we are not seeing much of a slowdown at the moment. Even in the US, with the pace of interest rates rising (although at a slower pace), the real estate sector is seeing only a 5 to 10 per cent price correction, which is manageable.

“Reason being financial institutions and individuals have learnt their lesson from the subprime mortgage crisis and they are more careful and cautious about lending and borrowing,” Kashif explained.

The 2007-2010 subprime mortgage crisis stemmed from an earlier expansion of mortgage credit, including to borrowers who previously would have had difficulties getting a mortgage. The easy credit both contributed to and facilitated rapidly rising home prices in the US.

Another reason supporting the real estate sector is the shift in digital currencies and equity markets, where after a cycle of between four and five years, investors are returning to the real estate market because they see it as a safer investment option.

Real estate is a real asset and provides more security, he said.

Source: Bernama

Tags: