Eight & Eight Condominium, a condominium development by UDA Holdings Berhad in Tanjung Tokong. Situated along Jalan Desiran Tanjung, it stands adjacent to The Brezza condominium. Boasting a prime location, it’s merely a 5-minute walk to Island 88, with convenient access to essential amenities within the established upscale neighborhood.

This development will witness the construction of two blocks of 48-storey condominiums, comprising a total of 600 residential units. These units will offer a built-up size ranging from 885 sq. ft. to 1,140 sq. ft. Additionally, the development will include an 8-level car parking podium.

Project Name: Eight & Eight Condominium
Location : Tanjung Tokong
Property Type : Condominium
Total Unit: 600
Built-up Area: 885 sq.ft. – 1,140 sq.ft.
Land Tenure: Leasehold
Indicative Price: RM622,000 – RM950,000
Developer: UDA Holdings Berhad

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.

Housing experts in Malaysia are urging the government to implement a vacancy tax to curb the rising number of vacant and unsold homes, and to stabilise property prices by deterring speculation.

According to a report by FMT, many so-called “affordable” housing units are being held vacant by owners or investors, reducing availability for genuine homebuyers. The move to tax empty homes, they argue, could encourage more responsible ownership and push developers to build in line with actual market demand.

K Theebalakshmi, a research associate with Khazanah Research Institute, believes a vacancy tax would help prevent speculative hoarding and drive more balanced development. She noted that between 2010 and 2022, Malaysia’s housing prices increased by 5.8% annually—well above the healthy range of 3% to 4%.

“In highly urbanised states where vacancy and overhang rates are high, a vacancy tax would help stop people from holding on to homes for quick profit,” she said.

Citing data from the Department of Statistics, Theebalakshmi highlighted that nearly 20% of homes in Selangor and Penang were vacant in 2020. Selangor alone had over 343,000 empty homes, with nearly 200,000 newly completed or pending occupancy. In Penang, more than 53,000 units remained unoccupied.

As of mid-2024, 22,642 completed homes nationwide remained unsold for more than nine months, with a combined value of RM14.24 billion, based on figures from the National Property Information Centre (NAPIC).

Countries such as Canada, Australia, and Singapore have already implemented similar measures. For instance, Vancouver imposes a 3% vacancy tax on homes left empty for over six months. Melbourne applies a sliding scale starting at 1%, while Singapore levies higher property taxes on non-owner-occupied homes.

Professor Azree Othuman Mydin, dean of Universiti Sains Malaysia’s School of Housing, Building and Planning, echoed the call for a vacancy tax. He said it could particularly discourage flipping and hoarding in the RM300,000 to RM500,000 price range, which is often targeted for speculation.

Azree also proposed tightening rules around affordable housing by increasing the real property gains tax for premature sales, and restricting future eligibility for government housing if buyers leave units empty without valid reasons.

“If we want housing to go to those who need it most, we must stop treating homes as trading tools,” he emphasised.

Source: Google Street View (for illustration only)

More than 70,000 property owners here have defaulted on their parcel rent payments, with arrears totalling some RM12.5mil since 2019.

The Penang Land and Mines Office (PTG) recently revealed that these homeowners risk losing their strata parcels due to unpaid arrears as of June 1.

PTG director Dr Faizal Kamarudin said the highest number of defaulters is in the northeast district with 32,000 affected accounts.

Under the Strata Titles Act 1985, properties may be forfeited if arrears are not settled within three months of receiving a legal notice.

The parcel rent, billed annually, was introduced in 2019 to replace the uniform quit rent system for stratified titles such as condominiums, apartments and flats.

It is separate from assessment tax and maintenance fees paid to the Joint Management Body or Management Corporation.

Property agent Joyce Lee said many property owners, particularly first-time homebuyers, are unaware of parcel rent.

She explained that unlike utility bills and maintenance fees, parcel rent does not carry immediate consequences such as service disconnection, making it easier for homeowners to overlook.

“The amounts are relatively small, and because they aren’t bundled with the monthly management fees, they often go unnoticed.

“The fragmented nature of the payment system, where each tax or utility requires logging in through different portals with no auto-debit function or centralised reminders, makes it even more inconvenient,” she added.

Besides a lack of awareness, Lee believes other contributing factors include rising living costs and inflation, which have led some owners to prioritise more urgent payments.

“There’s a common belief that they can simply pay it later, especially when selling the property.

“Some sub-sale owners may not even realise that parcel rent is still under the previous owner’s name, adding to the confusion and non-compliance,” she said.

Lee added that more public education is needed, especially targeting new homeowners, along with possible incentives, early payment discounts or stricter penalties to encourage better compliance.

Property valuer Mohd Fitri Hashim, 42, said parcel rent arrears could accumulate significantly if left unpaid.

“Parcel rent is calculated based on the size of the individual strata unit.

“For example, the parcel rent for a typical low-cost flat would be below RM30, while a standard condominium unit of about 1,000sq ft would need to pay around RM50,” he said.

Mohd Fitri added that for luxury condominium owners who pay about RM400 annually in assessment tax, their parcel rent would be less than RM100.

“For example, at Rifle Range Flats in Air Itam with over 3,000 units in the nine blocks, each unit of about 400sq ft size has to pay about RM25 in parcel rent yearly,” he said.

At the nearby All Seasons Place, the 850sq ft condominium’s yearly parcel rent comes to about RM24.

In comparison, the quit rent for a 1,523sq ft landed property in Teluk Kumbar on the southern tip of the island is RM42 annually.

Source: TheStar.com.my

Penang welcomed a significant milestone in its industrial growth yesterday as battery manufacturer INV New Material Technology (M) Sdn Bhd officially launched its first manufacturing facility at the Penang Technology Park@Bertam, Kepala Batas.

The Malaysian subsidiary of Shenzhen-based Senior Technology Material Co Ltd—renowned for its expertise in lithium-ion battery separator technology—was established in August 2023. The new state-of-the-art plant marks the company’s first foray into manufacturing in Malaysia.

Officiated by Penang Chief Minister Chow Kon Yeow, the opening ceremony drew attention to the facility’s potential as a regional game-changer. INV chairman Datuk Chen XiuFeng revealed that the company is investing RM6.4 billion in the facility, which is slated to be fully operational by June 2027.

“At full capacity, the plant will produce 2 billion square meters of high-performance battery separators annually, targeting a 15% global market share,” said Datuk Chen. “This will be the largest low-carbon separator plant in ASEAN and a key enabler of the global energy transition.”

Chow lauded the rapid development of the project, noting its transformation since the groundbreaking in November 2023.

“INV’s presence enhances Penang’s green technology and energy ecosystem. With applications in EVs, aerospace, energy storage, and electronics, this facility represents a major leap forward,” he said.

He also highlighted the plant’s potential to generate 1,200 skilled jobs, aligning with the state’s vision to strengthen high-value industries and nurture local talent.

Chow reiterated the state’s commitment to supporting technology-driven investments in line with national roadmaps like NIMP 2030 and the National Semiconductor Strategy.

“We are also actively improving infrastructure, connectivity, and livability to ensure sustainable, inclusive growth in hubs like Bertam,” he concluded.

About Taman Ara Damai

Taman Ara Damai is a vibrant township by GSD Land in Tasek Gelugor, offering modern tropical living across eight well-planned phases with around 2,200 units. Featuring a mix of single-storey terrace and semi-detached homes, plus double-storey shop offices, it’s ideal for families seeking comfort, space, and long-term value.

Designed for bright, airy living, each home comes with high ceilings and spacious layouts. The township also offers lifestyle amenities like parks, a playground, outdoor gym, bicycle track, and a multipurpose hall. Strategically located along Jalan Tasek Gelugor – Ara Kuda, with great connectivity and proximity to nature, Taman Ara Damai is a smart, family-friendly investment in northern Penang.

Find out more about Taman Ara Damai