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Penang should emulate Singapore’s success in urban renewal

May 25th, 2019 1 comment

fiabci-morning-talk-penang

Penang should take a leaf from Singapore’s book on urban renewal, said Dr Jason Teoh.

“In terms of moving towards urbanisation, we have a lot to learn from Singapore.

“This is because both Penang and Singapore are faced with land constraints and have limited space.

“But Singapore is a successful city and we should emulate their success,” he said at the FIABCI Malaysia: Penang Branch International Real Estate Federation morning talk at St Jo’s building in Gurney Paragon Mall, Penang.

Dr Teoh was speaking to over 20 FIABCI members and guests on the topic of ‘Urban Renewal – The Singapore Experience’.

The session was organised by the FIABCI Penang chapter.

Dr Teoh, the organising chairman, also quoted Penang Housing, Town and Country Planning and Local Government Committee chairman Jagdeep Singh Deo, who said that urban regeneration was required to ensure enough housing for the future population in Penang.

“Today, Singapore stands out for its unique urban landscape with historical buildings blending seamlessly with majestic skyscrapers.

“This is thanks to integrated long-term planning by a dynamic private-public partnership.

“Thus, we hope to gain ideas from Singapore’s urban renewal process,” he said.

Professor Joseph Ooi from the National University of Singapore Department of Real Estate said a vital element in building a successful city was long-term planning.

“It may take five years to build a building but it takes 30 years to build a city.”

Prof Ooi said it was important for developers to engage with the stakeholders involved before planning a city.

“A successful plan involves good framework and design and we need to involve residents, buyers, business people and so on.”

He also advised developers to understand who they are building for.

“A building is not defined as successful just because it looks nice but is rather defined by being a productive space.

“The most important element is always its users, the people you built it for,” he said.

Source: TheStar.com.my

 

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Aston Acacia

May 24th, 2019 1 comment

proposed-development-aston-acacia

Aston Acacia, a proposed serviced apartment by Tinggian Development Sdn. Bhd. (subsidiary of Hua Yang Berhad) within the established township of Bukit Mertajam, Penang. Strategically located along Persiaran Aston Indah, adjacent to Jit Sin Independent High School. It is only a mere minutes drive to The Summit Bukit Mertajam.

The proposal comprises 2 blocks of 33-storey high-rise towers, offering a total of 622 serviced suites with 4 different layout designs. 38 units of shop offices will be located at the ground levels.

More details to be available upon project launch.

Project Name : Aston Acacia (to be confirmed)
Location : Bukit Mertajam, Penang
Property Type : Mixed development
Land Tenure: Freehold
Built-up Size: 701 sq.ft. – 1,206 sq.ft.
Total Units: 622 (service apartment), 38 (shop office)
Indicative Price: (to be confirmed)
Developer : Tinggian Development Sdn. Bhd. (Hua Yang Bhd.)

Register your interest here

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

Location Map:

 

 

Discover How to Increase Monthly Rental Income For Better Return Through AirBnB

May 23rd, 2019 Comments off

airbnb-freemindworks* Article by Freemind Works *

Since early this year, there are a lot of properties completing and owners getting keys to their units. And many of these owners, do not know what to do with their properties. When their property continue to remain empty for many months, they have resorted to renting it out on short term or in other words, doing it the AirBnB way.

To increase monthly rental income for better returns, click here to know more
>>>http://bit.ly/proptalk19

#1 Better rental yield with daily rental

Let me illustrate.

Let’s say you bought a property at RM450,000 and the monthly rental is RM2,000. However, you wanted higher rental, so you plan to rent it out at a daily rate of RM200. Assuming a 50% occupancy rate, you will receive a monthly income of RM3,000 (RM200 x 15 days).

Instead of the normal rental return of only 5.3%, you can will receive a whooping 8% rental yield with potential positive cash flow.

#2 Challenges of JMB, opportunities or threat?

penang-noairbnbWith so many residential title properties having challenges and resistance form JMB (Joint Management Body), is it an opportunities or threat? It depends. Go visit some of the completed properties and chances are you will see a big signage that screams “No Homestay”. This is a challenge to the landlord and gives an unpleasant experience to your guest.

The demand for homestay or AirBnB has been on the uptrend and increasing but the number of rooms/units available has dropped due to this issue. You will be have great advantage if you are running an AirBnB-able properties where you can cater to this vacuum of increasing room demand, especially on a popular tourist attraction like Penang.

#3 Not all properties and location is AirBnB-able

Just because you have an empty property, does not mean you can easily go into AirBnB. Not all and every property is equal. You may end up spending a lot of money on renovating and furnishing your unit but ended up not able to do short term stay.

Stratified residential properties are not allowed to be rented out on short term (AirBnb).

And not all location will have demand.

There’s a better way to do this.

You are in for a treat, as we will be having an exclusive event, especially for Penang Property Talk readers, for you to discover the right product (AirBnB-able) to operate short term stay (homestay) at an ideal location with great packages (0% Down even for LTV 70%) & rebates awaiting you on the following date:

Date: 26 May 2019 (Sunday)
Time: 2pm (registration starts)
Venue: Northam All Suite Hotel, Penang

As seats are limited, reserve your seat here:
>>>http://bit.ly/proptalk19

#Bonuses:
– An invited speaker will talk on the topic ‘Potential of properties in Penang & 3 Ways How you can increase your rental return’
– Additional cash rebates at this exclusive event

As seats are limited, click here NOW to reserve your seat:
>>>http://bit.ly/proptalk19

– Kaygarn Tan

 

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AFFORDABLE: Relau / Eizo Enterprise Sdn. Bhd.

May 23rd, 2019 3 comments

affordable-by-Eizo-Enterprise

A newly proposed affordable housing by Eizo Enterprise Sdn. Bhd. at Relau. It is located on an approximately 1 acre land along Lebuh Relau 4, next to Relau Sports Complex. Neighboring communities include Relau Vista apartment, Taman Relau Mutiara, Taman Desa Relau, Sentral Green and a few others.

This development will see the construction of a 23-storey apartment building, featuring 118 affordable apartment units with facilities located at ground and 7th level.

The project is still pending for approval. More details to be available upon official launch.

READ MORE ABOUT AFFORDABLE HOUSING:

Project Name : (to be confirmed)
Location : Relau
Property Type : Affordable housing
Tenure: (to be confirmed)
Total Units : 118
Indicative Price : (to be confirmed)
Developer : Eizo Enterprise Sdn. Bhd.

Register your interest here

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

Location Map:

 

MUZE @ PICC – Official Grand Launch (25 & 26 May)

May 22nd, 2019 1 comment

You’re invited to experience a New Age Of Global Living right here in Penang.

Hunza Group is getting ready to celebrate the official launch of Muze – PICC’s First Residential Component. Featuring an extensive list of “must-have” facilities, Muze is wrapped in iconic architecture and spots uber modern residential units.

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Secure your unit by placing your booking today and as a token of appreciation, you will even receive a limited edition ChowTaiFook gold coin.

Visit PICC Sales Gallery today to find out more about Muze. Show units are now open for viewing.

Visit http://www.picc-penang.com/ or call 04-6090688 for more information.

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