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Discontinuation of The Reduction Of Fixed Deposit Placement Based On Property Purchase And MM2H Approval By Government Pension
Kindly be informed that MM2H Centre has discontinued the reduction of Fixed Deposit placement based on property purchase worth RM1 million and above in Malaysia. Also discontinued is the MM2H...
Penang looking at ways to increase land bank Print E-mail
Saturday, 20 March 2010 18:26

GEORGE TOWN: The state government is studying the various proposals that will help enlarge the land bank in the state, Chief Minister Lim Guan Eng said.

He said the state government had tried to redress the situation by requiring affordable housing to be built, including both low and low-medium cost, even from statutory government developers such as Penang Regional Development Authority (Perda).

Lim said they had also imposed quotas on those with higher plot ratios and density to ensure that there are sufficient units built in the range of less than RM500,000.

“However that does not address the scarcity of land which can only be redressed by reclamation.

“Therefore, we are getting feedback from various parties on the matter,” he said before opening the three-day (March 19-21) Penang International Property Expo 2010 at the Penang International Sports Arena here Friday.

Lim said the state government was mindful of rising prices and affordable housing, and as part of the corporate social responsibility developers have an obligation to help.

On the Expo, he congratulated the organisers as the gross development value of the project offered this year exceeded RM3.5bil.

“The property expo has set itself a higher sales transaction target of RM90mil this year including sales that will be closed at the event,” he added.

Lim also mentioned that when the state government implemented the CAT (Competency, Accountability and Transparency) governance they implemented the open tender policy.

He said that, with the implementation of the policy, there were lots of criticisms, but in the western countries if there was no open tender system one can be charged for corruption.

“There have been no short-cuts in Penang since we took over, but only clean-cuts,” he added.

There were 56 exhibitors showcasing their best property during the three-day event.

Besides that, lucky draws, public talks and special auction sessions were also held.

A Malaysia My Second Home national dialogue session will be held Saturday and Sunday at 9am


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