The Penang state government is taking steps to enhance its policies and stimulate the property sector in Seberang Perai, with a focus on attracting more developers to invest in the region. Seberang Perai, located on the peninsula, is currently experiencing an expansion phase, with the establishment of more factories providing increased job opportunities.
One of the key policy changes being considered is raising the plot ratio for development projects in Seberang Perai to be similar to, or nearly similar to, that of projects on the island. This move aims to encourage more property development in the region, aligning it with the development standards on Penang Island.
In addition, the state government plans to extend the Home Ownership Campaign, which was initially set to end at the close of the current year. This extension is seen as a strategic move to further boost the property sector and support homebuyers.
Datuk Seri S Sundarajoo, the State Housing and Environment Committee Chairman, expressed the state government’s confidence in Penang’s property sector and hopes that these policy enhancements will drive its growth even further. He emphasized the positive impact of industrial parks, particularly the Batu Kawan Industrial Park, on the region’s housing demand.
The establishment of the Batu Kawan Industrial Park 2 (BKIP2) and the forthcoming Light Rail Transit (LRT) system are expected to act as catalysts for the property sector’s growth in Seberang Perai.
The Malaysian Secondary & Primary Property Exhibition (MASPEX), organized by the Malaysian Institute of Estate Agents (MIEA), is set to take place from December 7 to 10. This event will feature over 3,000 properties worth more than RM2 billion from various real estate agencies. Prospective buyers can explore a wide range of properties across different price brackets and locations, ranging from RM250,000 to over RM1 million. Approximately 70% of the properties showcased are sub-sale properties, with the remaining 30% comprising new projects.
The state government’s commitment to enhancing policies and fostering growth in the property sector aligns with its broader economic development objectives, aiming to create more opportunities for both developers and homebuyers in Seberang Perai.
