Latest news with #RMKu
The Sun
13 hours ago
- Business
- The Sun
Penang offers free homes to 23 Ladang Sungai Kechil families under RMKu
NIBONG TEBAL: The Penang government has resolved a decade-long housing dispute for 23 families in Ladang Sungai Kechil by providing free homes under the Rumah MutiaraKu (RMKu) project. Chief Minister Chow Kon Yeow confirmed each family will receive a Type C1 single-storey terrace house measuring 750 square feet. Three temples on the original site will also be rebuilt as part of the agreement. The land acquisition process for 6.146 acres was finalised last year under the Land Acquisition Act 1960. A developer has been selected, with construction expected to begin early next year pending planning approval. Chow announced this after witnessing the signing of the Joint Development Agreement between LPNPP and Sierra Residences (M) Sdn Bhd. Offer letters were also handed to buyers of Residensi Rambai Indah and Harbour View Residence projects during the ceremony. The project will include 85 houses, with priority given to the 23 units for affected residents. The remaining 62 houses will be sold to interested buyers. Residents will not need to relocate during construction due to sufficient buffer land availability. V. Thangaraja, a resident, expressed relief after years of uncertainty over their settlement. He highlighted the emotional struggle as families had lived there for over a century. S. Naris, 36, thanked the state government for its persistent efforts in securing permanent homes for them. The resolution marks a significant step in addressing long-standing housing concerns in the area. - Bernama
Barnama
18-06-2025
- Business
- Barnama
MOC: Penang Extends Five Pct Discount For Overhang Units To All Buyers
GENERAL GEORGE TOWN, June 18 (Bernama) -- The Penang State Executive Council (MMK) today agreed to extend the five per cent discount for the purchase of overhang properties in the state to all buyers. Chief Minister Chow Kon Yeow said the conditions remain unchanged, as previously announced, with the discount offered for one year under the MADANI Home Ownership Campaign (MOC). 'It is also limited to participating developers registered with the Penang State Housing Board (LPNPP). 'The discount is also focused on units identified as unsold, for which relevant information will be obtained from the National Property Information Centre (NAPIC),' he told a press conference at Komtar today. Chow said, according to the Penang Property Market Report for the Fourth Quarter of 2024 released by NAPIC, a total of 2,796 residential units have been identified as unsold, involving various types of residential properties across the state. Previously, State Housing and Environment Committee Chairman Datuk Seri S. Sundarajoo announced a five per cent discount for the Indian Muslim community for the purchase of residential and commercial properties via the MOC, but the initiative was later reviewed following public criticism. The discount is among several incentives under the policy, effective from June 1, 2025, to May 31, 2026, including the introduction of a new category, Rumah MutiaraKu (RMKu) Type D, with a maximum ceiling price of RM400,000, and a reduction in contribution rates for developers who do not physically provide RMKu Type A or B units. --BERNAMA
The Sun
18-06-2025
- Business
- The Sun
MOC: Penang extends 5% discount for overhang units to all buyers
GEORGE TOWN: The Penang State Executive Council (MMK) today agreed to extend the five per cent discount for the purchase of overhang properties in the state to all buyers. Chief Minister Chow Kon Yeow said the conditions remain unchanged, as previously announced, with the discount offered for one year under the MADANI Home Ownership Campaign (MOC). 'It is also limited to participating developers registered with the Penang State Housing Board (LPNPP). 'The discount is also focused on units identified as unsold, for which relevant information will be obtained from the National Property Information Centre (NAPIC),' he told a press conference at Komtar today. Chow said, according to the Penang Property Market Report for the Fourth Quarter of 2024 released by NAPIC, a total of 2,796 residential units have been identified as unsold, involving various types of residential properties across the state. Previously, State Housing and Environment Committee Chairman Datuk Seri S. Sundarajoo announced a five per cent discount for the Indian Muslim community for the purchase of residential and commercial properties via the MOC, but the initiative was later reviewed following public criticism. The discount is among several incentives under the policy, effective from June 1, 2025, to May 31, 2026, including the introduction of a new category, Rumah MutiaraKu (RMKu) Type D, with a maximum ceiling price of RM400,000, and a reduction in contribution rates for developers who do not physically provide RMKu Type A or B units.
The Sun
18-06-2025
- Business
- The Sun
Penang extends 5% discount on overhang properties
GEORGE TOWN: The Penang State Executive Council (MMK) today agreed to extend the five per cent discount for the purchase of overhang properties in the state to all buyers. Chief Minister Chow Kon Yeow said the conditions remain unchanged, as previously announced, with the discount offered for one year under the MADANI Home Ownership Campaign (MOC). 'It is also limited to participating developers registered with the Penang State Housing Board (LPNPP). 'The discount is also focused on units identified as unsold, for which relevant information will be obtained from the National Property Information Centre (NAPIC),' he told a press conference at Komtar today. Chow said, according to the Penang Property Market Report for the Fourth Quarter of 2024 released by NAPIC, a total of 2,796 residential units have been identified as unsold, involving various types of residential properties across the state. Previously, State Housing and Environment Committee Chairman Datuk Seri S. Sundarajoo announced a five per cent discount for the Indian Muslim community for the purchase of residential and commercial properties via the MOC, but the initiative was later reviewed following public criticism. The discount is among several incentives under the policy, effective from June 1, 2025, to May 31, 2026, including the introduction of a new category, Rumah MutiaraKu (RMKu) Type D, with a maximum ceiling price of RM400,000, and a reduction in contribution rates for developers who do not physically provide RMKu Type A or B units.
The Sun
08-06-2025
- Business
- The Sun
Housing discount for Penang's Indian Muslims to be reassessed: Penang CM
GEORGE TOWN: The Penang state executive council (MMK) will review the five per cent discount offer for first-time homebuyers from the Indian Muslim community in Penang and make an appropriate decision for the benefit of all parties. Chief Minister Chow Kon Yeow said he has directed State Housing and Environment Committee chairman, Datuk Seri S. Sundarajoo, to refine the policy with developers to extend the discount to all buyers. He said this is to ensure the policy is more inclusive and benefits all segments of society, in line with the principles of social justice. 'The state government has received various feedback regarding the announcement of the intervention measure to provide a five per cent discount to the Indian Muslim community for the purchase of unsold (overhang) property units, as announced by the State Housing and Environment Committee chairman on June 5. 'Some of the feedback and views received suggest that the discount should also be offered to all buyers to stimulate the property sector, particularly the sale of unsold properties or units,' he said in a statement today. On Thursday, Sundarajoo announced a five per cent discount for the Indian Muslim community for the purchase of residential and commercial units under the Madani Inclusive Property Sector Catalyst Policy (MOC). This is among several incentives in the policy, effective from June 1, 2025 to May 31, 2026, in addition to introducing a special category, Rumah MutiaraKu (RMKu) Type D, with a maximum ceiling price of RM400,000, and a reduction in contribution rates for developers who do not physically provide RMKu Type A or B units. The policy is an intervention measure to revitalise the property sector, following discussions and agreement with housing industry stakeholders, taking into account the increasingly concerning oversupply of non-affordable units in Penang. According to the Penang Property Market Report for the Fourth Quarter of 2024, issued by the National Property Information Centre (NAPIC), a total of 2,796 residential units have been identified as unsold, involving various types of residential properties across the state.
