A total of 187 recipients received their keys and ownership offer letters for Rumah MutiaraKu (RMKu) Type A units at the Mak Mandin Indah project in Penang, marking another milestone in the state government’s affordable housing agenda.

Each unit spans 650 sq ft with three bedrooms and is priced at just RM42,000, a fraction of the current market construction cost of between RM170,000 and RM180,000 per unit. The total construction cost of the project was nearly RM29 million, yet units were sold at a combined price of only RM9 million, meaning the Penang State Government absorbed approximately RM20 million to ensure low-income residents could own a home.

Speaking at the key handover ceremony, Housing and Environment Exco Dato’ Seri S. Sundarajoo reaffirmed the state government’s commitment to affordable homeownership despite rising construction costs. He added that through the Penang State Housing Board (LPNPP), the state is targeting the construction of 220,000 RMKu units to meet the housing needs of its people.

Units at Mak Mandin Indah are offered under a rent-to-own scheme, where recipients pay just RM250 per month for 15 years, after which full ownership is transferred to them. Sundarajoo noted that this approach eliminates the need for bank loans, sparing buyers from high interest rates and upfront deposit payments that can reach up to RM6,000. Since last year, LPNPP has also been purchasing compliance housing units priced below RM100,000 from developers to resell to the public through the same rent-to-own method. The state also offers RMKu Type C units priced between RM200,000 and RM300,000 under a similar scheme.

Among those who received their units, recipients expressed heartfelt gratitude for finally having a place to call their own. For many, the programme represents relief from years of renting at rates they could no longer sustain, with some having faced personal hardships including job loss, health challenges and family difficulties. The affordable monthly payment of RM250 offers them not just a roof over their heads, but long-term security and peace of mind.

About The Pier

A mixed-development project by Asia Green Group in Bayan Mutiara, Penang, strategically located along Tun Dr. Lim Chong Eu Expressway near the Penang Bridge’s Bayan Lepas exit. Adjacent to The Zen development (formerly Zen 9), it comprises two residential towers—Tower A with 496 units and Tower B with 438 units, totaling 934 units. The development includes facilities on level 8, a 7-level car parking podium, and 64 shop offices at ground level.

Find out more about The Pier

Magni-Tech Industries Bhd, best known for its garment manufacturing and packaging products, is making a bold pivot into property development with the acquisition of a prime 4.7-acre beachfront parcel in Tanjong Bungah, Penang, for RM133.33 million cash.

The 4.7-acre freehold site priced at approximately RM649 per square foot, sits adjacent to the Dalat International School and was previously used as a car park. According to a Bursa Malaysia filing, the purchase will be funded entirely through internally generated funds, with Magni-Tech’s wholly-owned subsidiary, Magni Land Sdn Bhd, signing a sale and purchase agreement with Neoh Choo Ee & Company Sdn Bhd which is an investment holding company controlled by the Neoh family.

The land transaction marks a striking jump in value. Originally acquired by the vendor in 1973, the site carried an audited net book value of just RM1.01 million as at December 31, 2025 — a testament to how dramatically Penang’s prime coastal property values have appreciated over the decades.

Magni-Tech described the location as highly attractive, surrounded by established hotels, resorts, and international schools, factors the company believes enhance both its appeal and development potential.

At the helm of Magni-Tech is 79-year-old Penang tycoon Tan Sri Tan Kok Ping, who serves as executive chairman and substantial shareholder, holding a direct 5.25% stake and an indirect 13.95% interest in the company.

The acquisition is expected to be completed in the second half of 2026, signalling a significant new chapter for the manufacturer-turned-developer.

Paya Terubong State Assemblyman Wong Hon Wai has flagged a disparity in construction progress along the new Air Itam–Tun Dr. Lim Chong Eu bypass, following a recent site visit to the elevated highway linking Farlim to Lebuh Tun Lim Chong Eu.

Wong, who has been monitoring the project closely, noted that work has shifted from ground level to the deck phase, with crews currently focused on diaphragm construction, deck casting, deck slab, and parapet works along Section 1 on the Farlim side.

During the visit, Wong accessed the highway via a ramp opposite Old Sunshine along Jalan Thean Teik — one of two access points from the Paya Terubong side — before driving all the way to Kingfisher Apartment in Seri Delima. It marked his first time traversing from the Farlim section into the adjoining stretch of the highway.

While progress at Section 1 in Farlim was described as on track, Wong expressed dissatisfaction with the pace of work at the other end of the project, calling it “far from satisfactory.”

He revealed that he has since raised the matter with Penang Infrastructure Corporation (PIC), the state-owned GLC overseeing the project, stressing that intervention from the state government is now necessary.

The Air Itam bypass is one of Penang’s most anticipated infrastructure projects, expected to significantly ease congestion along one of the island’s busiest corridors once completed.

Wong pledged to provide further updates as more information becomes available.

About A-Park

A-Park is a guarded light industrial park by Ancubic Industries Sdn. Bhd., strategically located along Jalan Perindustrian Valdor near Valdor Industrial Park and just five minutes from Batu Kawan Industrial Park. Surrounded by established SME factories, the development comprises 50 units of semi-detached and detached factories to be completed in multiple phases. Designed with security and convenience in mind, A-Park features dedicated security services, an advanced visitor management system, and direct owner access control.

Find out more about A-Park