Penang to Reassess Indian Muslim Housing Discount
Chief Minister Chow Kon Yeow said he has directed State Housing and Environment Committee chairman, Datuk Seri S. Sundarajoo, to refine the policy with developers to extend the discount to all buyers.
He said this is to ensure the policy is more inclusive and benefits all segments of society, in line with the principles of social justice.
'The state government has received various feedback regarding the announcement of the intervention measure to provide a five per cent discount to the Indian Muslim community for the purchase of unsold (overhang) property units, as announced by the State Housing and Environment Committee chairman on June 5.
'Some of the feedback and views received suggest that the discount should also be offered to all buyers to stimulate the property sector, particularly the sale of unsold properties or units,' he said in a statement today.
On Thursday, Sundarajoo announced a five per cent discount for the Indian Muslim community for the purchase of residential and commercial units under the Madani Inclusive Property Sector Catalyst Policy (MOC).
This is among several incentives in the policy, effective from June 1, 2025 to May 31, 2026, in addition to introducing a special category, Rumah MutiaraKu (RMKu) Type D, with a maximum ceiling price of RM400,000, and a reduction in contribution rates for developers who do not physically provide RMKu Type A or B units.
The policy is an intervention measure to revitalise the property sector, following discussions and agreement with housing industry stakeholders, taking into account the increasingly concerning oversupply of non-affordable units in Penang.
According to the Penang Property Market Report for the Fourth Quarter of 2024, issued by the National Property Information Centre (NAPIC), a total of 2,796 residential units have been identified as unsold, involving various types of residential properties across the state.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
The Sun
19 hours ago
- The Sun
Penang launches first state-level resilience strategy to combat global disruptions
GEORGE TOWN: The Penang state government has introduced the Penang Resilience Strategy (PRS), a comprehensive plan designed to enhance the state's ability to withstand future global disruptions. Chief Minister Chow Kon Yeow described the PRS as a collective commitment to safeguarding Penang against uncertainties in an evolving world. Chow highlighted that the PRS, Malaysia's first state-level resilience strategy, was developed through extensive collaboration, incorporating local insights and global best practices. 'Penang is known for its industrial strength and cultural diversity, but we must now focus on resilience amid climate change, urban pressures, and economic shifts,' he said during the PRS Unveiling Ceremony. The strategy aligns with Penang2030 and the Green Agenda, emphasizing inclusivity by incorporating feedback from communities, businesses, and civil society. To ensure implementation, the state launched the Pledge for a Resilient Penang, urging all sectors to integrate resilience into daily operations, from sustainable business practices to community safety programs. Chow stressed that recent extreme weather events, such as flash floods, underscore the urgency of proactive governance. 'Resilience means anticipating and adapting to challenges, not just recovering from them,' he added. The Penang State Town and Country Planning Department (PLANMalaysia) will oversee PRS execution, ensuring policy continuity in urban development and infrastructure planning. 'While we cannot predict every future challenge, we can strengthen our response through unity and foresight,' Chow said. 'With sustained action, Penang will thrive even in adversity.' - Bernama
Malay Mail
20 hours ago
- Malay Mail
CM: Penang launches bold resilience roadmap to futureproof against climate and urban challenges
GEORGE TOWN, Aug 1 — The Penang state government today unveiled the Penang Resilience Strategy (PRS), a bold and inclusive roadmap, aimed at strengthening the state's capacity to withstand and adapt to future disruptions. Chief Minister Chow Kon Yeow said the occasion marked more than just the unveiling of a document, but a collective commitment to futureproof the state against the uncertainties and challenges of an ever-changing world. He said the PRS, Malaysia's first state-level resilience strategy represented years of collaborative effort rooted in shared values, local knowledge and global insights, forming a people-first, data-informed and action-oriented strategy to guide Penang's transformation into a resilient, adaptive and inclusive state. 'Penang has long been celebrated for its industrial strength, cultural diversity and innovation capacity. Yet, with global climate disruptions, demographic transitions and rising urban pressures, we must now go beyond growth and competitiveness — we must build resilience,' he said at the PRS Unveiling Ceremony here today. Also present were State Infrastructure, Transport and Digital Committee Chairman Zairil Khir Johari, Micron Malaysia Corporate Vice President of Assembly and Test (NAND) Operations Amarjit Singh and Resilient Cities Network (R-Cities) Board Member who is also Kuala Lumpur Mayor Datuk Seri Maimunah Mohd Sharif. Chow emphasised that recent flash floods and other extreme weather events were no longer isolated incidents but part of a new normal that demands urgent and proactive governance. 'Resilience, in this context, means more than recovery. It means building systems that anticipate, absorb and evolve whether in response to climate challenges, economic shifts, public health threats or social inequalities,' he said. He noted that the strength of the PRS lies not only in its alignment with key frameworks such as Penang2030 and the Green Agenda, but also in its deeply inclusive approach, shaped by thousands of contributions from communities, youth, businesses and civil society. To turn vision into action, the state also launched the Pledge for a Resilient Penang, calling on all sectors to embed resilience into everyday decisions from green business practices to community-based safety initiatives. Chow said the Penang State Town and Country Planning Department (PLANMalaysia) will lead the implementation of the PRS by coordinating efforts, aligning with broader planning frameworks, engaging stakeholders inclusively and integrating resilience into urban development, land use and infrastructure strategies to ensure policy continuity and effective execution. 'This is just the beginning. The PRS sets the direction, but its impact will depend on how we walk the path together. While we cannot predict every shock or stress that lies ahead, we can strengthen our capacity to respond — with unity, foresight and compassion. 'I am confident that with collective resolve and sustained action, Penang will continue to lead, inspire and thrive — not only in moments of stability, but also in the face of adversity,' he said. — Bernama
New Straits Times
21 hours ago
- New Straits Times
Penang CM: Business as usual at PDC amid MBI probe
GEORGE TOWN: It is business as usual at the Penang Development Corporation (PDC), the state's main development agency, Chief Minister Chow Kon Yeow said. He said this when asked if PDC's accounts had been frozen pending investigations into the into the Mobility Beyond Imagination (MBI) investment scheme. "Ask the police. Ask far as I know, PDC is still operating as usual. "For other details, please ask the police. I, myself, have no information. It is not my responsibility to answer," Chow, who is PDC chairman, told newsmen here today. Officers from the Bukit Aman Special Task Force on Anti-Money Laundering (AMLA) visited PDC headquarters on July 9, as part of a nationwide investigation into the MBI investment scheme. The visit was aimed at tracing financial flows possibly linked to the scheme. The transactions involved the Bayan Mutiara development, where a company linked to MBI became the major shareholder in 2018. Chow had repeatedly said that PDC was not the subject of the investigation, but assisting as a stakeholder involved in earlier commercial transactions that might be relevant to the probe. Home Minister Datuk Seri Saifuddin Nasution Ismail confirmed that enforcement efforts were discussed by Prime Minister Datuk Seri Anwar Ibrahim and Chinese President Xi Jinping during Xi's visit in April.
