THE priority for this year will be to transform Penang into a smart city which is in line with Penang 2030 ‘A Family-Focused Green and Smart State’.
State Housing, Town, Country Planning and Local Government Committee chairman Jagdeep Singh Deo said several pilot projects were in the pipeline for such purpose.
He said the town and country planning agenda for Penang would also be carried out from now until 2030.
He added that the property market here was still strong despite reports of overhang units.
The Valuation and Property Services Department (JPPH) defines an overhang as completed unsold units nine months after launching, and after the issuance of the Certificate of Fitness by local authorities.
Jagdeep said Penang had 3,261 overhang residential units last year compared with 2,271 units in 2017, adding that the figures were relatively low compared to Johor and Selangor.
“The state government will control the ‘overhang’ problem.
“Penang is doing well in its housing segment with the rise in number for affordable housing units,” he told a press conference at Komtar on Monday.
Jagdeep also hoped that the federal government would initiate more affordable housing schemes in Penang.
On another matter, Jagdeep, who is Penang Property Summit 2019 event chairman, invites fellow Penangites to check out properties at the event at Setia SPICE in Relau on Saturday and Sunday.
“If you are eligible for the property, just register and take up the opportunities available,” he said.
With the theme of celebrating a vibrant property sector in ‘New Malaysia’, the Penang Property Summit is organised by the state Housing Committee in collaboration with PenEvents.
Some of the major highlights will be the keynote addresses by Housing and Local Government Minister Zuraida Kamaruddin and Chief Minister Chow Kon Yeow.
Exclusive closed-door dialogues with key industry stakeholders will also be held.
Also present at the press conference were Real Estate and Housing Developers’ Association (Rehda) Penang chairman Datuk Toh Chin Leong, Property Development, Construction and Management Committee (PDCMC) convenor Datuk Finn Choong, FIABCI Malaysia chairman Michael Geh, MNP Auctioneers (Central) CEO Stephen Soon, Malaysian Institute of Estate Agents Penang chairman elect Christina Choong and event director Ong Ban Seang.