News & Updates


Various plans to boost property sales

Monday, 18 July 2016 00:00

The Penang government has agreed in principle that the 20% surcharge for affordable housing units sold in the northeast district will be reduced to 10%.

State Housing, Town and Country Planning Committee chairman Jagdeep Singh Deo told International Real Estate Federation (FIABCI) Penang branch members that this was to invigorate and stimulate developers’ sales in a damp market.

ptmp

Piling works for the first project under the Penang Transport Master Plan (PTMP) is expected to begin near the end of 2017.

Penang Local Government, Traffic Management and Flood Mitigation Committee chairman Chow Kon Yeow said the target was to get the relevant approvals in early 2017 with work anticipated to start by the end of that year.

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