Despite the global consolidation of operations and restructuring exercise by multinational companies in Penang, such as those involving Seagate Technology Inc, Western Digital Corp and Intel Corp, the industrial sector in Penang has fared quite well over 2016.
Demand non-landed residential property has lost its momentum, with more new supply coming in over the next few years.
Outlook for the KL, Selangor office markets remain cloudy; retail sales growth to remain weak as consumers grapple with rising living cost and lower disposable income, says Knight Frank Malaysia.
Prices for the SoHo units with built-up sizes of 450 sq ft range from RM700 psf to RM750 psf while the retail units will be owned and rented out by EcoFirst.
The Waterside Residence is the first residential tower in The Light Waterfront Phase 2, with an estimated gross development value of RM240 million.
Sime Darby Property said customers who purchase selected properties are entitled to receive a rebate of RM8,888 on the initial 10% down payment.
Land acquisitions by Chinese investors made a comeback in 2016, with a rise of 44% following significant transactions in Hong Kong, Australia and Malaysia.
The developer is also planning another eco-themed township development on the recently acquired 1,675-acre tract in Seberang Perai, Penang, which has an estimated GDV of RM9.6 billion.
"We're really happy about that, it is a good start for us for 2017," said Aset Kayamas managing director Tan Sri Chai Kin Kong.
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