Penang Property | Penang SME Centre

Penang Property | My Penang | Penang SME Centre

The Penang SME Centre is an incubator to catalyse and spur the growth of Penang SMEs, encouraging them to move up the value chain, become market leaders and to tap on opportunities to proliferate private branding enabling the "Powered by Penang' brand.

The Penang State Government strongly supports the establishment of this industry-led Centre At the current indicative market rental rate, the rental subsidy by the State Government is approximately RM0.80 cents psf Penang SMEs are urged to seize this opportunity, locate their operations in this highly-subsidized, modern and conducive business environment which will accelerate their move to their next level of success.

Penang SME Centre is set to strengthen Penang's competitive edge, attracting FDIs to Penang's supply chain. The Centre will play a role in creating employment and retaining talent, thereby increasing employment in Penang.

The SME Centre is a collaborative effort of the Penang Development Corporation, investPenang and the Penang Science Council (Mentoring Scientific Entrepreneurs Pillar). The establishment of the Centre is in line with the Penang State SME Policy and is part of its 3-prong approach in the overall development of SMEs in Penang.

VULCAN INTERNATIONAL Real Estate Investors Club is promoting Penang SME Centre for newly startup company. Interested please call Vulcan Lau , mobile: +6 016 451 1321 for more details.

Back to Main Page: www.VulcanPenangProperty.blogspot.com | International Page:www.VulcanInternational.blogspot.com

Wishing you Merry Christmas And Happy New Year.

Back to Main Page: www.VulcanPenangProperty.blogspot.com | International Page:www.VulcanInternational.blogspot.com

Penang Property | Stable office rental in KL (for reference)

Penang Property | Thursday July 19, 2012

By THOMAS HUONG
huong@thestar.com.my

KUALA LUMPUR: Rental rates for purpose-built offices in Kuala Lumpur were generally stable in the last three years, except for certain suburban and city centre areas which showed an upward trend, according to the 2011 Purpose Built Office Rent Index (PBO-RI) for Federal Territory of Kuala Lumpur.

“Looking at the data... the market is still good,” National Property Information Centre (Napic) director Dr Zailan Mohd Isa said at a pre-launch briefing of the 2011 PBO-RI which will be launched today.

The rent index has four regions, namely Kuala Lumpur City Centre-Golden Triangle (KLCC-GT), Centre Business District (CBD), within city centre (WCC) and suburban.


According to the rent index, average monthly rentals for purpose-built offices in the WCC region had increased gradually from RM2.92 per sq ft in the first quarter of 2009 to RM3.46 per sq ft in the fourth quarter of 2011.

This meant that average monthly office rentals in the WCC region had increased 18.5% over a three-year period.

It was also noted that average monthly office rentals in the suburban region had appreciated by 13.2% over a three-year period, rising from RM3.10 per sq ft in the first quarter of 2009 to RM3.51 per sq ft in the fourth quarter of 2011.

The suburban region includes Bangsar, Bukit Kiara, Damansara Heights, Jalan Pantai Baru, Jalan Istana and Jalan Syed Putra.

“Companies may be relocating to the suburban areas,” said Zailan.

Meanwhile, although the KLCC-GT region is the most sought after location in the city, average monthly office rentals were stable (a slight rise from RM4.60 per sq ft in the first quarter of 2009 to RM4.66 per sq ft in the fourth quarter of 2011).

However, the CBD region suffered a drop in average monthly office rentals, from RM3.46 per sq ft in the first quarter of 2009 to RM3.27 per sq ft in the fourth quarter of 2011.

For the entire Kuala Lumpur region under review, average monthly office rentals had increased sightly over a three-year period, from RM3.91 per sq ft in the first quarter of 2009 to RM4.04 per sq ft in the fourth quarter of 2011.

The rent index, which will be produced on a quarterly basis, is developed by Valuation and Property Services Department (JPPH), with assistance from Universiti Teknologi Mara (UiTM) and University of Malaya.

Zailan said it was the first rent index of its kind in the Asean region.

“It is based on data from actual rental agreements, and not asking rates.”

The rent index defines purpose-built offices as buildings with office use of not less than 75% of net lettable area, and has compiled rental data from 6,831 tenancy leases from 167 buildings.

Zailan said the rent index's aim was to provide a guide on current market rentals for investors, and a benchmark for the financial stability of the country.

“We also want to attract multinational corporations to set up regional headquarters in Kuala Lumpur,” she said.

Zailan also said the PBO-RI would be expanded eventually to cover all the major cities and towns in Selangor, followed by Penang and Johor.

“Getting data is the most dificult part. We urge all property managers and owners to co-operate with us in providing data.”

Source reference link: http://biz.thestar.com.my/news/story.asp?file=/2012/7/19/business/11687866&sec=business

Back to Main Page: www.VulcanPenangProperty.blogspot.com | International Page:www.VulcanInternational.blogspot.com

Penang Property | National Electric Tariff with effect from 1-June-2011

Penang Property | National Electric Tariff with effect from 1-June-2011 / Tarif Elektrik Berkuatkuasa 1-June-2011

Case study 2: With increase new development launching on condominium/apartment in Penang under commercial title, the advantage of commercial title will only be effect if the usage is above 3,300kwh or RM1,419.00 .

Henceforth buying condominium/apartment under commercial title buyers will have to pay more for their electricity bill.

Case study 2a: Based on 600kwh usage for commercial title, you've to pay additional of approx. 30% . This a nominal(avg) household usage with bill of RM200.00(calculated under residential title).

Courtesy of VulcanInternational | Penang Property

Back to Main Page: www.VulcanPenangProperty.blogspot.com | International Page:www.VulcanInternational.blogspot.com

Penang Property Talk | Penang Investment | Plans for Heritage Square

Penang Property Talk Guru | Penang Investment

Penang Property Talk | Penang Investment

Wednesday August 1, 2012

Plans for Heritage Square New enclave will complement revitalisation of Komtar, says CM
By WINNIE YEOH and CLIFFORD LEE
newsdesk@thestar.com.my

GEORGE TOWN: The old Sia Boey market will be part of a 1.82ha plot of land to be turned into a new heritage enclave on the island.

The enclave, to be known as Heritage Square, is a project under the Komtar Phase Five development announced by the state government and the Penang Deve-lopment Corporation (PDC).

Chief Minister Lim Guan Eng said the move was in line with George Town’s World Heritage Listing and would complement the revitalisaation of Komtar as a socio-civic centre and business hub of the state.

“It will be a complete makeover and it will predominantly be used as a public space,” he said after visiting Sia Boey in Lebuh Tek Soon yesterday.

The project will have five major elements – restoration and expansion of Sia Boey (Prangin Market), the creation of urban spaces, a heritage celebration square and an iconic George Town heritage centre, reinstatement and adaptive reuse of old shophouses and restoration of the Prangin Canal.

Under the plan, it is hoped that the square and centre would restore the cultural vibrancy of George Town by promoting living heritage and street life as well as green the city to ensure balanced development in the area.

Lim, who is also PDC chairman, said the draft plans would be open to the public for viewing next week.

“The draft is subject to changes. We want to make public viewing available before Hari Raya Aidilfitri,” he said.

The revitalisation will include a visitors’ centre, crafts and souvenir retail areas, flowers and food hubs.

PDC is also expected to build an adjacent market to complement the existing one. However, this will be a “dry” market instead of “wet” one.

The plan will also see existing shophouses along Maxwell Road undergo adaptive reuse into cafes, coffee shops, teahouses, handicraft centres, mini museums, boutiques and B&B hotels in line with the heritage ambience and theme of the area.

A five-storey building would be erected to add to the vibrancy of the square.

The restoration of the Prangin Canal would include plans for a hawker street food zone and street furniture in well-landscaped areas.

Source reference link: http://thestar.com.my/metro/story.asp?file=/2012/8/1/north/11771391&sec=north

Back to Main Page: www.VulcanPenangProperty.blogspot.com | International Page:www.VulcanInternational.blogspot.com