Amid economic uncertainties, Penang- and Kuala Lumpur-based developers will roll out RM6.463 billion of residential and commercial properties in the second half of this year and in 2013.
Developers planning to have new housing projects in Penang include Mah Sing Group Bhd (RM180 million), IJM Land Bhd (RM608 million GDV), SP Setia Bhd (RM2.563 billion GDV), Ideal Property Development Sdn Bhd (RM1.1 billion GDV), Sunway Bhd (RM385 million GDV) and Ivory Properties Group Bhd (RM1.6 billion GDV).
The residential-cum-commercial neighbourhoods, such as Sungai Ara, Sungai Nibong, Teluk Kumbar, Bukit Jambul and Batu Maung continue to be suitable locations for developers.
All properties in Batu Maung and Bukit Jambul, except Sunway Cassia and IJM’s Trehaus will comprise high-rise projects.
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