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Showing posts with label Northern Region. Show all posts
Showing posts with label Northern Region. Show all posts

Tuesday, July 2, 2019

Parcel rent bills mailing soon

Stratified property owners given till December 31 to settle dues for 2019

Chow (second right) with (from right) Jagdeep Singh, State Land and Mines office director Akmar Omar and State Secretary Datuk Seri Farizan Darus, showing the new bills for the parcel rent in Komtar, Penang.
OWNERS of stratified properties will now have to pay parcel rent directly to their respective district and land offices.

Chief Minister Chow Kon Yeow said the billing for parcel rent, replacing quit rent, would be sent out to all parcel owners next month through their respective management corporations.

“Previously, it was paid by the respective management corporations of stratified properties.

“Since the bills will be sent out late, parcel owners are given until end of this year to pay up although the deadline is usually May 31 each year,” he told a press conference at Komtar on Friday.

Chow said the parcel rent came into effect since January this year.

He said the rates for parcel rent would be based on the size of each unit, while quit rent was based on the total plot of land which the building was built on.

“Parcel owners will need to update their addresses with the respective district and land offices when paying their parcel rent this year,” he said, adding that the parcel rent billing for next year will be sent to their addresses.

Citing an example, Chow said the total quit rent collected from a specific stratified property last year was RM28,268.

“The collection in parcel rent for the same property will be lesser at RM24,239, as it will not take into account common areas, unlike for quit rent,” he said.

State housing, town, country plan­­ning and local government committee chairman Jagdeep Singh Deo, who was also present, said the arrears for quit rent has amounted to RM65mil to date.

Parcel owners are advised to update their mailing addresses at the land and district office or online at etanah.penang.gov.my

Source link 


Related posts:

Five challenges young Malaysians face with home ownership

 


Resilient values: Geh believes that both landed and high-rise units in prime locations will hold their values. Research house sa..


It’s time for Penang to reinvent itself; RM70bil to be raised from the 3 man-made islands to finance LRT, PIL infrastruture under PTMP



Parcel rent bills mailing soon

Stratified property owners given till December 31 to settle dues for 2019

Chow (second right) with (from right) Jagdeep Singh, State Land and Mines office director Akmar Omar and State Secretary Datuk Seri Farizan Darus, showing the new bills for the parcel rent in Komtar, Penang.
OWNERS of stratified properties will now have to pay parcel rent directly to their respective district and land offices.

Chief Minister Chow Kon Yeow said the billing for parcel rent, replacing quit rent, would be sent out to all parcel owners next month through their respective management corporations.

“Previously, it was paid by the respective management corporations of stratified properties.

“Since the bills will be sent out late, parcel owners are given until end of this year to pay up although the deadline is usually May 31 each year,” he told a press conference at Komtar on Friday.

Chow said the parcel rent came into effect since January this year.

He said the rates for parcel rent would be based on the size of each unit, while quit rent was based on the total plot of land which the building was built on.

“Parcel owners will need to update their addresses with the respective district and land offices when paying their parcel rent this year,” he said, adding that the parcel rent billing for next year will be sent to their addresses.

Citing an example, Chow said the total quit rent collected from a specific stratified property last year was RM28,268.

“The collection in parcel rent for the same property will be lesser at RM24,239, as it will not take into account common areas, unlike for quit rent,” he said.

State housing, town, country plan­­ning and local government committee chairman Jagdeep Singh Deo, who was also present, said the arrears for quit rent has amounted to RM65mil to date.

Parcel owners are advised to update their mailing addresses at the land and district office or online at etanah.penang.gov.my

Source link 


Related posts:

Five challenges young Malaysians face with home ownership

 


Resilient values: Geh believes that both landed and high-rise units in prime locations will hold their values. Research house sa..


It’s time for Penang to reinvent itself; RM70bil to be raised from the 3 man-made islands to finance LRT, PIL infrastruture under PTMP




Penang State to study Airbnb woes before legalising operations; Using Airbnb to settle mortgages?

Friday, April 13, 2018

China buyers eyeing Penang property in growing tourism

https://youtu.be/olQaqTyb6qo
Worthy investment: Mah Sing sales executive Victor Cheah (left) introducing the M Vista project to visitors at StarProperty.my Fair in Queensbay Mall, Penang.

Visitors checking out MTT Properties & Development Sdn Bhd’s Botanica CT Centre during the StarProperty.my Fair in Queensbay Mall, Penang.

PENANG recently come under the radar of investors from China, said Property Talk principal Steven Cheah.

“It used to be Australia that attracted their interests, but now it is Penang. So, we can expect to see potential house buyers from China at the fair,” he said.

Cheah was speaking at the sideline of the StarProperty.my Fair 2018 which opened at Queensbay Mall yesterday and will end on Sunday.

He said the China investors were interested in high-rise properties near the sea priced at around RM1mil to RM2mil.

Cheah added that house buyers were now more selective due to higher interest rates.

“Most of them will be paying attention to the new launches in the southwest district and in Seberang Prai, where it is still possible to find properties priced below RM500,000,” he said.

Cheah said with the right location, good road connectivity, product type and concept, demand for properties in Penang would still be strong.

Potential house buyers checking out BinWan Development Sdn Bhd’s Gelugor Heights during StarProperty.my Fair in Queensbay Mall, Penang. Potential house buyers checking out BinWan Development Sdn Bhd’s Gelugor Heights during StarProperty.my Fair in Queensbay Mall, Penang.

“Malaysia’s strong fundamentals augur well for the outlook going forward.

“Malaysia’s population is young with an average age of 30 to 31 years old, and many people are still looking to start a family. This is a good sign for the property market.

“There will be weaknesses in between as the market is adjusting to the supply and demand situation.

“From the medium to long term perspective, property is still one of the choice investments preferred by investors,” he said.

Meanwhile, Yew Chor Hian, who hails from Kedah, said he was interested in a high-rise property priced at around RM600,000.

“I work in Bayan Baru, so I am interested to stay on the island.

Visitors renewing The Star newspaper subscription at The Star info counter at the fair.
Visitors renewing The Star newspaper subscription at The Star info counter at the fair.

“The size and location are important to me,” he added.

Australian Ray Stubb said he was looking for a high-rise condominium.

“We are interested in getting a unit near the sea,” he said.

A total of 17 exhibitors are displaying their products at the fair, of which 15 are developers.

The developers are SPNB Aspirasi Sdn Bhd, Mah Sing Group Bhd, Ewein Zenith Sdn Bhd, Iconic Land Sdn Bhd, Regata Maju Sdn Bhd, JKP Sdn Bhd, SP Setia Bhd, MTT Properties & Development, Galeri Tropika Sdn Bhd, Devoteshens Sdn Bhd, Binwan Development Sdn Bhd, Bertam Properties Sdn Bhd, Corfield Development Sdn Bhd, Penang Development Corporation and Pembangunan Rasa Sempurna Sdn Bhd.

The other two exhibitors are Property Talk, a Penang-based real estate agency, and East West One Marketing Sdn Bhd, which is an oil palm investment company.

The Star by David Tanby david Tan


Related News  

 

A place to thrive for millennials - Metro News

The crowd checking out a scale model of The Zen project that is part of Parcel 3 of Penang World City in Bayan Mutiara. – Photos: GARY CHEN/The Star
The crowd checking out a scale model of The Zen project that is part of Parcel 3 of Penang World City in Bayan Mutiara. – Photos: GARY CHEN/The Star

 

Residential property sales improves, but overhang situation 

“The market is still soft, but things are improving following the strong economic growth in 2017,” Nordin(inset picture) told reporters after the launch of the Property Market Report 2017 here yesterday
“The market is still soft, but things are improving following the strong economic growth in 2017,” Nordin(inset picture) told reporters after the launch of the Property Market Report 2017 here yesterday

 

How good is property as an asset class today? - Business News 

 

Seeking viable options - Business News

 

Our cities should adopt '8-80' concept - Business News 

 Bringing smiles to house buyers

China buyers eyeing Penang property in growing tourism

https://youtu.be/olQaqTyb6qo
Worthy investment: Mah Sing sales executive Victor Cheah (left) introducing the M Vista project to visitors at StarProperty.my Fair in Queensbay Mall, Penang.

Visitors checking out MTT Properties & Development Sdn Bhd’s Botanica CT Centre during the StarProperty.my Fair in Queensbay Mall, Penang.

PENANG recently come under the radar of investors from China, said Property Talk principal Steven Cheah.

“It used to be Australia that attracted their interests, but now it is Penang. So, we can expect to see potential house buyers from China at the fair,” he said.

Cheah was speaking at the sideline of the StarProperty.my Fair 2018 which opened at Queensbay Mall yesterday and will end on Sunday.

He said the China investors were interested in high-rise properties near the sea priced at around RM1mil to RM2mil.

Cheah added that house buyers were now more selective due to higher interest rates.

“Most of them will be paying attention to the new launches in the southwest district and in Seberang Prai, where it is still possible to find properties priced below RM500,000,” he said.

Cheah said with the right location, good road connectivity, product type and concept, demand for properties in Penang would still be strong.

Potential house buyers checking out BinWan Development Sdn Bhd’s Gelugor Heights during StarProperty.my Fair in Queensbay Mall, Penang. Potential house buyers checking out BinWan Development Sdn Bhd’s Gelugor Heights during StarProperty.my Fair in Queensbay Mall, Penang.

“Malaysia’s strong fundamentals augur well for the outlook going forward.

“Malaysia’s population is young with an average age of 30 to 31 years old, and many people are still looking to start a family. This is a good sign for the property market.

“There will be weaknesses in between as the market is adjusting to the supply and demand situation.

“From the medium to long term perspective, property is still one of the choice investments preferred by investors,” he said.

Meanwhile, Yew Chor Hian, who hails from Kedah, said he was interested in a high-rise property priced at around RM600,000.

“I work in Bayan Baru, so I am interested to stay on the island.

Visitors renewing The Star newspaper subscription at The Star info counter at the fair.
Visitors renewing The Star newspaper subscription at The Star info counter at the fair.

“The size and location are important to me,” he added.

Australian Ray Stubb said he was looking for a high-rise condominium.

“We are interested in getting a unit near the sea,” he said.

A total of 17 exhibitors are displaying their products at the fair, of which 15 are developers.

The developers are SPNB Aspirasi Sdn Bhd, Mah Sing Group Bhd, Ewein Zenith Sdn Bhd, Iconic Land Sdn Bhd, Regata Maju Sdn Bhd, JKP Sdn Bhd, SP Setia Bhd, MTT Properties & Development, Galeri Tropika Sdn Bhd, Devoteshens Sdn Bhd, Binwan Development Sdn Bhd, Bertam Properties Sdn Bhd, Corfield Development Sdn Bhd, Penang Development Corporation and Pembangunan Rasa Sempurna Sdn Bhd.

The other two exhibitors are Property Talk, a Penang-based real estate agency, and East West One Marketing Sdn Bhd, which is an oil palm investment company.

The Star by David Tanby david Tan

Related News  

 

A place to thrive for millennials - Metro News

The crowd checking out a scale model of The Zen project that is part of Parcel 3 of Penang World City in Bayan Mutiara. – Photos: GARY CHEN/The Star
The crowd checking out a scale model of The Zen project that is part of Parcel 3 of Penang World City in Bayan Mutiara. – Photos: GARY CHEN/The Star

 

Residential property sales improves, but overhang situation 

“The market is still soft, but things are improving following the strong economic growth in 2017,” Nordin(inset picture) told reporters after the launch of the Property Market Report 2017 here yesterday
“The market is still soft, but things are improving following the strong economic growth in 2017,” Nordin(inset picture) told reporters after the launch of the Property Market Report 2017 here yesterday

How good is property as an asset class today? - Business News 

 

Seeking viable options - Business News

 

Our cities should adopt '8-80' concept - Business News 

 Bringing smiles to house buyers

Thursday, May 18, 2017

Boost for Bayan Lepas: Global biz hub for Penang

Hi-tech facility aims at rejuvenating economy in Bayan Lepas 


An artist’s impression of the proposed GBS By The Sea project in Bayan Lepas.

Penang Development Corporation (PDC) general manager Datuk Rosli Jaafar said the RM200mil project dubbed ‘GBS By The Sea’ would be part of a rejuvenation exercise for the Bayan Lepas industrial area.Hi-tech facility aims at rejuvenating economy in Bayan Lepas
“The project, which will be located beside the Motorola factory, will also be used as a catalyst to rejuvenate the economy.

“Under the first phase, 2.7ha of space will be developed and will feature a nine-storey seafont building which will house the Multimedia Super Corridor Malaysia Cybercentre,” he said after announcing the project in Komtar on Tuesday.

Rosli added that there would be a multi-storey 2,500-bay car park complex, retail and F&B outlets, and also an integrated centre for IT and R&D activities.

“The futuristic hub will also have a central meeting place for people to meet up.

“It will also harness natural sunlight as lighting, making it an environment-friendly development.

“When completed in 2020, the project will create some 3,000 jobs,” he said.

Chief Minister Lim Guan Eng, who was present, said the project would provide higher value jobs in the manufacturing industry through expansion and diversification of the GBS business.

“Penang aims to be part of the Industry 4.0 Transformation, which revolves around big data analytics, e-commerce, crowdsourcing, cloud computing and the Internet of Things.

“GBS By The Sea is expected to attract many key international players into the state,” he said.

Lim added that according to a study by Outsourcing Malaysia, the country’s GBS sector is expected to see a compounded annual growth rate of 10% to 15% over the next three years.

Global biz hub for Penang 


Part of the buildings to be built at the GBS centre.

PENANG has identified a 72.8ha site in Bayan Lepas to be turned into a Global Business Services (GBS) centre.

Penang Development Corporation (PDC) general manager Datuk Rosli Jaafar said the RM200mil project dubbed ‘GBS By The Sea’ would be part of a rejuvenation exercise for the Bayan Lepas industrial area.

“The project, which will be located beside the Motorola factory, will also be used as a catalyst to rejuvenate the economy.

“Under the first phase, 2.7ha of space will be developed and will feature a nine-storey seafont building which will house the Multimedia Super Corridor Malaysia Cybercentre,” he said after announcing the project in Komtar on Tuesday.

Rosli added that there would be a multi-storey 2,500-bay car park complex, retail and F&B outlets, and also an integrated centre for IT and R&D activities.

“The futuristic hub will also have a central meeting place for people to meet up.

“It will also harness natural sunlight as lighting, making it an environment-friendly development.

“When completed in 2020, the project will create some 3,000 jobs,” he said.

Chief Minister Lim Guan Eng, who was present, said the project would provide higher value jobs in the manufacturing industry through expansion and diversification of the GBS business.

“Penang aims to be part of the Industry 4.0 Transformation, which revolves around big data analytics, e-commerce, crowdsourcing, cloud computing and the Internet of Things.

“GBS By The Sea is expected to attract many key international players into the state,” he said.

Lim added that according to a study by Outsourcing Malaysia, the country’s GBS sector is expected to see a compounded annual growth rate of 10% to 15% over the next three years.

Also present were Deputy Chief Minister Datuk Mohd Rashid Hasnon, investPenang general manager Loo Lee Lian and other state exco members.

Penang homes priced beyond reach of most youths 


More than 90% of respondents surveyed hope to own property but only half believe that it is possible.

THE majority of youths in Penang have no choice but to rent due to high property prices.

Most (73.2%) are staying in a property owned by a family member or a relative and many (93.7%) are hoping to own a house within the next five years.

These are some of the findings of an opinion poll carried out by the state government on a sample group of 606 youths, aged 18 to 29.

Penang Institute senior analyst Yeong Pey Jung (pic) said an overwhelming 90.2% of respondents found it difficult to purchase property in Penang while 43.4% revealed that it was not difficult to rent a property here.

“In looking at the responses on perception towards property prices, 91.8% found prices in Penang to be considerably expensive while 69.3% are of the opinion that affordable housing in Penang is not affordable.

“If we look into the 24 to 29 age group, who have a higher purchasing power, 81.7% conclude that affordable housing is unaffordable. This is a phenomenon observed throughout Malaysia especially in urban areas,” she told a press conference on the outcome of the Penang youth survey in Komtar on Tuesday.

Yeong added that more than 90% of respondents hoped to own property but only half of them believe that it is possible.

“The telephone survey, which was conducted in February this year, was to find out how Penang youths feel towards social, economic and political concerns.”

The survey also showed that over 70% of youths involved in community projects were not interested in taking up leadership roles.

They also expressed a general disinterest in politics.

In terms of health, more than half of youths engaged in regular exercise.

About 56.4% found difficulty in gaining employment, a sentiment shared by their peers and immediate social circle.

Penang Youth and Sports, Women, Family and Community Development Committee chairman Chong Eng said the survey was an initiative towards the Penang Youth Development Blueprint.

“The blueprint will be inclusive and function as a guide to encourage social upward mobility and enhance the youths’ development socially, economically and politically.”

The next phase is to conduct a focus group discussion and in-depth interviews with all sectors of the youth community.

Sources: The Star/ANN

Related articles

Forum: Vital role for Penang in growing the GBS sector  http://www.thestar.com.my/metro/community/2016/10/01/forum-vital-role-for-penang-in-growing-the-gbs-sector/


Related posts:

Rejuvenating George Town, Penang

Penang has confirmed the illegal hill clearing cases reported by Penang Forum

Boost for Bayan Lepas: Global biz hub for Penang

Hi-tech facility aims at rejuvenating economy in Bayan Lepas 


An artist’s impression of the proposed GBS By The Sea project in Bayan Lepas.

Penang Development Corporation (PDC) general manager Datuk Rosli Jaafar said the RM200mil project dubbed ‘GBS By The Sea’ would be part of a rejuvenation exercise for the Bayan Lepas industrial area.Hi-tech facility aims at rejuvenating economy in Bayan Lepas
“The project, which will be located beside the Motorola factory, will also be used as a catalyst to rejuvenate the economy.

“Under the first phase, 2.7ha of space will be developed and will feature a nine-storey seafont building which will house the Multimedia Super Corridor Malaysia Cybercentre,” he said after announcing the project in Komtar on Tuesday.

Rosli added that there would be a multi-storey 2,500-bay car park complex, retail and F&B outlets, and also an integrated centre for IT and R&D activities.

“The futuristic hub will also have a central meeting place for people to meet up.

“It will also harness natural sunlight as lighting, making it an environment-friendly development.

“When completed in 2020, the project will create some 3,000 jobs,” he said.

Chief Minister Lim Guan Eng, who was present, said the project would provide higher value jobs in the manufacturing industry through expansion and diversification of the GBS business.

“Penang aims to be part of the Industry 4.0 Transformation, which revolves around big data analytics, e-commerce, crowdsourcing, cloud computing and the Internet of Things.

“GBS By The Sea is expected to attract many key international players into the state,” he said.

Lim added that according to a study by Outsourcing Malaysia, the country’s GBS sector is expected to see a compounded annual growth rate of 10% to 15% over the next three years.

Global biz hub for Penang 


Part of the buildings to be built at the GBS centre.

PENANG has identified a 72.8ha site in Bayan Lepas to be turned into a Global Business Services (GBS) centre.

Penang Development Corporation (PDC) general manager Datuk Rosli Jaafar said the RM200mil project dubbed ‘GBS By The Sea’ would be part of a rejuvenation exercise for the Bayan Lepas industrial area.

“The project, which will be located beside the Motorola factory, will also be used as a catalyst to rejuvenate the economy.

“Under the first phase, 2.7ha of space will be developed and will feature a nine-storey seafont building which will house the Multimedia Super Corridor Malaysia Cybercentre,” he said after announcing the project in Komtar on Tuesday.

Rosli added that there would be a multi-storey 2,500-bay car park complex, retail and F&B outlets, and also an integrated centre for IT and R&D activities.

“The futuristic hub will also have a central meeting place for people to meet up.

“It will also harness natural sunlight as lighting, making it an environment-friendly development.

“When completed in 2020, the project will create some 3,000 jobs,” he said.

Chief Minister Lim Guan Eng, who was present, said the project would provide higher value jobs in the manufacturing industry through expansion and diversification of the GBS business.

“Penang aims to be part of the Industry 4.0 Transformation, which revolves around big data analytics, e-commerce, crowdsourcing, cloud computing and the Internet of Things.

“GBS By The Sea is expected to attract many key international players into the state,” he said.

Lim added that according to a study by Outsourcing Malaysia, the country’s GBS sector is expected to see a compounded annual growth rate of 10% to 15% over the next three years.

Also present were Deputy Chief Minister Datuk Mohd Rashid Hasnon, investPenang general manager Loo Lee Lian and other state exco members.

Penang homes priced beyond reach of most youths 


More than 90% of respondents surveyed hope to own property but only half believe that it is possible.

THE majority of youths in Penang have no choice but to rent due to high property prices.

Most (73.2%) are staying in a property owned by a family member or a relative and many (93.7%) are hoping to own a house within the next five years.

These are some of the findings of an opinion poll carried out by the state government on a sample group of 606 youths, aged 18 to 29.

Penang Institute senior analyst Yeong Pey Jung (pic) said an overwhelming 90.2% of respondents found it difficult to purchase property in Penang while 43.4% revealed that it was not difficult to rent a property here.

“In looking at the responses on perception towards property prices, 91.8% found prices in Penang to be considerably expensive while 69.3% are of the opinion that affordable housing in Penang is not affordable.

“If we look into the 24 to 29 age group, who have a higher purchasing power, 81.7% conclude that affordable housing is unaffordable. This is a phenomenon observed throughout Malaysia especially in urban areas,” she told a press conference on the outcome of the Penang youth survey in Komtar on Tuesday.

Yeong added that more than 90% of respondents hoped to own property but only half of them believe that it is possible.

“The telephone survey, which was conducted in February this year, was to find out how Penang youths feel towards social, economic and political concerns.”

The survey also showed that over 70% of youths involved in community projects were not interested in taking up leadership roles.

They also expressed a general disinterest in politics.

In terms of health, more than half of youths engaged in regular exercise.

About 56.4% found difficulty in gaining employment, a sentiment shared by their peers and immediate social circle.

Penang Youth and Sports, Women, Family and Community Development Committee chairman Chong Eng said the survey was an initiative towards the Penang Youth Development Blueprint.

“The blueprint will be inclusive and function as a guide to encourage social upward mobility and enhance the youths’ development socially, economically and politically.”

The next phase is to conduct a focus group discussion and in-depth interviews with all sectors of the youth community.

Sources: The Star/ANN

Related articles

Forum: Vital role for Penang in growing the GBS sector  http://www.thestar.com.my/metro/community/2016/10/01/forum-vital-role-for-penang-in-growing-the-gbs-sector/


Related posts:

Rejuvenating George Town, Penang

Penang has confirmed the illegal hill clearing cases reported by Penang Forum