Heritage Celebration Months | 5 reasons why George Town as a UNESCO World Heritage Site is important to Penang

1. Prior to the inscription, the real estate value of properties be it core zone or buffer zone were at RM500 per square foot (psf) and less. Now with its newly achieved status, the real estate value encompasses the two zones has surpassed RM1000 psf mark. This is revitalizing its real estate industry. Penang Property | Higher prices with heritage status .

2. It provides jobs for locals and tour agencies. There are classes been conducted to ensure that the heritage tourist guides are properly equipped with knowledge so as to conduct group tours on heritage trails. Retails around the core zone has put up Rent-A-Bicycle and other trades like handicraft to boost further the tourism industry.

Rent-A-Bicycle at Chulia Lane, Penang

3. Beautifying and stellar rating George Town. A lot of dilapidated houses on the two zones have been given new life with refurbishing been carried out. Some of these houses have been approved for 'change of use' from residential to commercial and hotel like the famous heritage Yeng Keng Hotel at Chulia Street, Penang. Refer to my discussion with Ms Lim Chooi Ping: Unesco Penang | Penang City | World Heritage City of Georgetown Zoning Classification - Part2(discussion with Ms Lim Chooi Ping of Georgetown World Heritage Inc.)

4. Penang is rich for its history, art, craft, food and architecture. Murals been painted to depict its state of reborn and its history of streets well documented, galore of foods that Penang is famous for: 3 Reasons Why You Should Visit Penang, Malaysia | Good food in Penang | Retire in Penang | Tourism Penang | and architecture like St George's Church. You can enjoy all these in one place that I called Penang.

St. George's Church at Farquhar St., Penang

Line Clear's nasi kandar at Penang Road

5. With UNESCO World Heritage Site listing, it comes with UNESCO World Heritage regulations. To abide and conformance to its strict rules such as height control, makes Georgetown a better place to live and not embedded with skyscraper. Penang has its share of skyscrapers along its famous Gurney Drive, Tanjung Tokong, Tanjung Bungah and Batu Ferringhi tourist belt area.

Gurney Drive's skyscraper condominiums, Penang

This article has been written by VULCAN INT'L Real Estate Research Institute http://www.vulcanresearch.blogspot.com for VULCAN INTERNATIONAL Real Estate Investors Club http://www.vulcaninternational.blogspot.com .

VulcanInternational could be contacted at +6 016 451 1321 .

You're welcome to write your constructive comment below.

MM2H | Heritage Celebrations 2014

Malaysia | Penang | George Town has been declared UNESCO World Heritage site on 7-July-2008. Since then Penang State government has commemorate it annually as anniversary celebration with 7-July month been declared public holiday for the state to enable everyone to enjoy this auspicious day together.

As the guardian of this honour, George Town World Heritage Inc (GTWHI) [http://www.gtwhi.com.my] has been entrusted with responsibility for the management, monitoring and promotion of the city of George Town as a World Heritage Site.

This year Penang is celebrating its 6th Anniversary of the inscription of the Historic City of George Town as a UNESCO World Heritage Site with two days' events on 6 & 7-July-2014. According to #GTWHI website, "Annual Heritage Day Celebrations take place right in walk the streets of the inner city and is a tribute to the warmth and vibrancy of the George Town communities. Discover what makes George Town special and, for Penangites, relive memories of performances, art, craft, food and architecture that are all part of your Penang’s heritage."

It'll be good as for expatriates under MM2H (Malaysia My Second Home) to indulge and enjoy these days together.

For programme details, refer to http://www.heritagecelebrations.info

George Town World Heritage Location

This article has been written by VULCAN INT'L Real Estate Research Institute http://www.vulcanresearch.blogspot.com for VULCAN INTERNATIONAL Real Estate Investors Club http://www.vulcaninternational.blogspot.com .

VulcanInternational could be contacted at +6 016 451 1321 .

You're welcome to write your constructive comment below.

Star Property Fair 2014

As in Gregorian calendar July month in Penang's Real Estate is always synonymous with Star Property Fair. The Star Property Fair 2014 will be held from 24-July-2014 to 27-July-2014 at G-Hotel and Gurney Plaza, Penang.

Six major developers combine will showcase more than RM4 billion gross development value (GDV) of their properties. They are #EcoWorld Development Group Bhd, Mah Sing Group Bhd, Boon Siew Group, Ideal Property Group, Ivory Properties Group Bhd and IJM Land Bhd.

The maverick Eco World expect to showcase their RM1 billion mix-development projects namely RM600 million worth of properties from Eco Sky Condominium and Eco Majestic development in Kuala Lumpur whilst the remaining RM400 million is said to be from Eco Botanica, Eco Summer, Eco Spring and Eco Tropics from Johor.

For more picturesque on the last two years event do refer to:

Penang Property Forum | Star Property Fair 2013 | StarProperty.My |Stylish Living Property Fair 2013

Penang Property | Star Property Fair 2012 @ G-Hotel & Gurney Plaza(12-July-2012 to 15-July-2012)

Organiser: Starproperty.my

Note: If you would like to view ready units for sale at Gurney Paragon Condominium which is stone's throw away from Gurney Plaza and G Hotel do refer to Penang Gurney Drive | Gurney Paragon | Duplex Condo For Sale and The Best Gurney Paragon Condo Has To Offer | Penthouse for sale.

This article has been written by VULCAN INT'L Real Estate Research Institute http://www.vulcanresearch.blogspot.com for VULCAN INTERNATIONAL Real Estate Investors Club http://www.vulcaninternational.blogspot.com .

VulcanInternational could be contacted at +6 016 451 1321 .

You're welcome to write your constructive comment below.

Malaysia | MASPEX Penang 2014 | The Pictography

Maspex forum | Maspex foto

21 June 2014: As of now MASPEX 2014 Penang is underway. The #MASPEX2014 roadshow is from 20-22 June 2014 at Penang Times Square, Jalan Dato Keramat Georgetown, Penang. Again this is the same venue as of last year.

This section is been presented to you in pictography form:

Visual presentation of data using icons, pictures, symbols, etc., in place of or in addition to common graph elements (bars, lines, points). Pictographs use relative sizes or repetitions of the same icon, picture, or symbol to show comparison. Also called pictogram, pictorial chart, pictorial graph, or picture graph.

(http://www.businessdictionary.com)

The scene at MASPEX2014 Penang as of 20 June 2014 evening: Participating real estate agencies. For more details refer to MASPEX 2014 Penang | Malaysia Secondary Property Expo 2014

 

Facts and figures. The following are contributions from MIEA and Raine&Horne

Number of Residential Property Transactions by Price Range in Penang, 2013

Number of Residential Property Transactions by Price Range in  Malaysia, 2013

Number and Value of Residential Property Transactions by Category of Market in Malaysia, 2010 - 2013

Population by District, 2010 - 2020

Age Group Population (Island / Mainland), 2010 - 2020

Number and Value of Residential Property Transactions by Category of Market in Penang, 2010 - 2013

This article has been written by VULCAN INT'L Real Estate Research Institute http://www.vulcanresearch.blogspot.com for VULCAN INTERNATIONAL Real Estate Investors Club http://www.vulcaninternational.blogspot.com .

VulcanInternational could be contacted at +6 016 451 1321 .

You're welcome to write your constructive comment below.

Malaysia | Aspen Group Penang | First Affordable Housing Scheme In Penang Island

First affordable housing scheme on Penang Island is schedule to kick off on the fourth quarter of 2014. Aspen Group Penang with facility of RM95.5 mil Islamic loan from Malaysia Building Society Berhad (MBSB) set to launch RM400 mil Tri Pinnacle Penang project located on a 4 ha site at Jalan Persiaran Halia 3, Mount Erskine in Tanjong Tokong. It will be opened to first time housebuyers registered with Penang State Government. The approval process for genuine applicants is said to be done by the state government. The #MBSB loan facility will be used to finance the purchase cost of the freehold site for the Tri Pinnacle project, its founder and group CEO Datuk Manokharan Murly said.

Tri Pinnacle will housed 390 units of 650 sq ft low medium-cost (#LMC) apartments priced at RM72,500 and 859 units of 800 sq ft affordable condominiums priced at RM299,000 . It'll be equipped with high quality ambience, landscaping and standard condo facilities.

Refer to http://vulcaninternational.blogspot.com/2013/12/20142015-penang-property-my-musings-on.html for more details on LMC and affordable homes.

Why Aspen Group heading this LMC and affordable homes? Why not other established developers or 'A listed' developers?

The answer is Corporate Social Responsibility (CSR). Aspen Group Penang might be new kid on the block but their involvement in Batu Kawan where they going to build IKEA is a mega project. Back in January this year, Aspen Group has joint ventured (JV) with Ikano Pte Ltd, the franchisee for IKEA in Malaysia, Singapore and Thailand to develop an integrated shopping mall in Batu Kawan, with IKEA as anchor tenant. The joint venture as Aspen-Ikano, brought up 245 acres of land from Penang Development Corporation (#PDC) for RM483.95 million (RM45.35 psf).

IKEA store and first phase of the shopping mall is said to take up 30 acres while another 45 acres is set for phase two of the shopping mall and remaining 170 acres for mixed development.   

This article has been written by VULCAN INT'L Real Estate Research Institute http://www.vulcanresearch.blogspot.com for VULCAN INTERNATIONAL Real Estate Investors Club http://www.vulcaninternational.blogspot.com .

VulcanInternational could be contacted at +6 016 451 1321 .

You're welcome to write your constructive comment below.