Penang Property | Penang SME Centre

Penang Property | My Penang | Penang SME Centre

The Penang SME Centre is an incubator to catalyse and spur the growth of Penang SMEs, encouraging them to move up the value chain, become market leaders and to tap on opportunities to proliferate private branding enabling the "Powered by Penang' brand.

The Penang State Government strongly supports the establishment of this industry-led Centre At the current indicative market rental rate, the rental subsidy by the State Government is approximately RM0.80 cents psf Penang SMEs are urged to seize this opportunity, locate their operations in this highly-subsidized, modern and conducive business environment which will accelerate their move to their next level of success.

Penang SME Centre is set to strengthen Penang's competitive edge, attracting FDIs to Penang's supply chain. The Centre will play a role in creating employment and retaining talent, thereby increasing employment in Penang.

The SME Centre is a collaborative effort of the Penang Development Corporation, investPenang and the Penang Science Council (Mentoring Scientific Entrepreneurs Pillar). The establishment of the Centre is in line with the Penang State SME Policy and is part of its 3-prong approach in the overall development of SMEs in Penang.

VULCAN INTERNATIONAL Real Estate Investors Club is promoting Penang SME Centre for newly startup company. Interested please call Vulcan Lau , mobile: +6 016 451 1321 for more details.

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Wishing you Merry Christmas & Happy New Year.

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Penang Property | FOR SALE/RENT : Bungalow at Millionaire Row, PenangMALAYSIA

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Malaysia: Property market may remain stable in 2013

December 13, 2012 by: fmt
By John Gilbert

KUALA LUMPUR; The Malaysian Institute of Estate Agents (MIEA) expects the property market to remain stable in 2013 as buyers buck expectations of busts and booms.

MIEA president Nixon Paul said recent news reports predicting a boom for next year are creating an artificial situation in the market.

“We view the property market to remain strong for 2013 and prices will continue to increase if the stock availability remains tight,” he told reporters at the MIEA Property Outlook 2012 here yesterday.

He said there were also misconceptions that the condominium market is going to drop, caused by low rental income and take-ups by expatriates.

“We believe the market for the condominium market will hold, especially in the areas of KLCC, Mont Kiara and several other places in the city,” he said.

However, Paul said many foreign companies are repackaging the housing allowance for expatriates into their salaries and this is causing many of them to seek lower rents outside the city centre and closer to international schools for their children.

Touching on the industrial market, Hectares & Stratas Sdn Bhd director Stephen Tew Peng Hwee said the demand for industrial space in the Klang Valley is strong but the supply is limited with overall vacancy being well below 5%.

“Capital values have increased as much as 50% over the past four to five years, rentals by 20%-30% and the main cause of these increases is not much on overly demand but rather lack of new supply,” said Tew.

“Today, the biggest gobblers of industrial space are trading and logistics companies and not manufacturing as in the past.”

As for Penang, Tew said there is also a supply shortage of industrial space and rentals and it can often be more expensive than the Klang Valley.

“The biggest demand for industrial space in Penang comes from the electric and electronics industry and it is not uncommon to hear companies complaining of the difficulty of finding space in Penang for logistics.”

He said the demand for industrial space in Johor has improved substantially over the past few years due to the success of Tanjung Pelepas port and better relations with Singapore.

“Many Malaysia-Singapore joint ventures to develop residential, commercial and industrial facilities in Johor have created a better environment and leadership guidance to Singaporeans to start seriously looking at building new factories in Johor.

“Demand for industrial land and buildings has been improving and land values have begun moving up a bit slower as Johor is a huge state with plenty of land,” he said.

Source reference link: http://www.freemalaysiatoday.com/category/business/2012/12/13/property-market-may-remain-stable-in-2013/

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Penang Property | 14 projects approved under density guideline

Penang Property | Monday November 26, 2012

14 projects approved under density guideline

By WINNIE YEOH
winnie@thestar.com.my

THE Penang Municipal Council (MPPP) has approved 14 projects under the 87 units per 0.404ha guideline since it came into effect in June, 2010.

State Local Government and Traffic Management Committee chairman Chow Kon Yeow said stringent measures had however been imposed on developers to build the increased density units.

“The guideline is not applicable in established housing areas, World Heritage Site, the area from Tanjung Bungah Hotel to Mar Vista, along Gurney Drive, the bordering areas of Air Putih constituency and Air Itam constituency and re-zoning area.

“The floor area for the guideline is also capped at about 1,400sq ft per unit and MPPP has also imposed a price control for 25% of the units,” he said in a press conference at the City Hall in Esplanade yesterday. `

Of the 25%, Chow said developers would have to sell 5% of the units at RM200,000 per unit, 15% at RM300,000 per unit and 5% at RM400,000 per unit.

He said if a developer wished to build under the new guideline, the company would have to build an additional 30% low-cost or low medium-cost units in the same district.

“Developers will also have to submit a traffic impact assessment (TIA) report for the respective projects,” he said.

Chow added that currently 109.26ha of land on Penang island was available for the building of units under the new guideline.

He said this worked out to 8,100 units at 30 units per 0.404ha and under the new guideline, 23,490 units could be built.

Council president Datuk Patahiyah Ismail, who was also present, said there would be no capped floor plan size if developers chose to build 30 units per 0.404ha.

“With the 87 units per 0.404ha guideline, we can in a way curb super condos and the issue of expensive prices,” she said.

In recent news reports, many Penangites questioned the need for the guideline as they were concerned that higher density may lead to social and environmental problems for the existing residents.

The 14 projects which have been approved are in Jalan C.Y. Choy, Jalan Macalister, Jalan Seang Teik, Lorong Perak, Sungai Ara, Bukit Gambier (two projects), Lembah Permai, Jalan Jelutong (two projects), Jalan Paya Terubong, Jalan Perak, Jalan Tanjung Tokong and Jalan Pantai Jerejak.

Source reference link: http://thestar.com.my/metro/story.asp?file=/2012/11/26/north/12369232&sec=North

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