By NST Property/ Sharen Kaur - November 17, 2023
KUALA LUMPUR: Penang intends to improve its policies in order to boost the property sector and attract more developers to Seberang Prai.
According to Datuk Seri S. Sundarajoo, chairman of the state housing and environment committee, Seberang Prai is expanding as more factories establish a presence there.
"Among the things we are looking at is raising the plot ratio for development projects in Seberang Prai to be similar or almost similar to that on the island," he said, according to Bernama.
He was speaking at the Malaysian Secondary and Primary Property Exhibition (MASPEX) press conference.
Sundarajoo said that industrial parks have benefited Seberang Prai, as evidenced by the high rate of housing take-up in Batu Kawan.
The establishment of Batu Kawan Industrial Park 2 (BKIP2) and the Light Rail Transit will serve as additional growth catalysts for the sector.
Sundarajoo also said that the Home Ownership Campaign, which was set to expire at the end of this year, will be extended.
He said that the state government is optimistic about Penang's property sector and hopes that the upcoming improvements will "push" it to grow even more.
MASPEX, organised by the Malaysian Institute of Estate Agents, will feature over 3,000 properties worth more than RM2 billion.
About 70 per cent are sub-sale properties, with the remainder being new projects, with prices ranging from RM250,000 to over RM1 million.
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