News by Edgeprop.my

A tender notice has been put up, inviting prospective developers and investors to submit offers.

There were several offers, but none was willing to meet the minimum asking price of US$130 million (RM543 million), already half of its original price.

"In order to build one unit that is 600 to 700sq ft, the developer has to fork out RM120k for actual construction cost."

“Unlike in areas where vast plains meet the sea and waterspouts can reach tornado speeds, those in Penang are weak and dissipate in less than 30 minutes.”

“House buyers have a need for houses, but such a need has not been backed by adequate buying power. This is obviously a market failure which perhaps requires state intervention."

It has been reported that ground floor units of the five-storey Valencia Apartments have been renovated into shoplots run mainly by foreigners.

“The entire road is often congested with school vans transporting schoolchildren and pedestrians.”

“We even have it in writing from MPK that the construction is to be a one-storey residential bungalow but the structure did not look anything like it as the ceiling is as high as a double-storey house.”

“Sunderam Vadiveloo does not speak for the entire Rumah Panjang community, and his association excludes many of us who are recognised residents of the Rumah Panjang,” Bukit Kiara Rumah Panjang Residents Association secretary M Sivakumar said.