<div class=newsTextDataWrapInner><p>KUALA LUMPUR (Nov 22): The ban on short-term rental in Penang has resulted in an increase in property values and rental yields, according to Eastern &amp; Oriental Bhd (E&amp;O).</p></div>

<div class=newsTextDataWrapInner><p>E&amp;O executive chairman Datuk Tee Eng Ho said the group's property development in Penang was never intended to be marketed as an investment play.</p></div>

<div class=newsTextDataWrapInner><p>"Whichever condominium without Airbnb, their property price goes up, rental even much better," he told reporters and analysts at E&amp;O's 2QFY2024 results briefing on Wednesday.</p></div><div class=inPageAd id=div-gpt-ad-inpage></div>

<div class=newsTextDataWrapInner><p>"Our [development in] Andaman Island, we never targeted it for people to do Airbnb," Tee added.</p></div>

<div class=newsTextDataWrapInner><p>Tee was referring to the Andaman Island development, an artificial island off the Northeast coast of Penang that is set to be launched in the first quarter of 2024.</p></div>

<div class=newsTextDataWrapInner><p>Effective May 25 this year, the state government of Penang imposed a ban on almost all types of short-stay accommodation, making it the first state in Malaysia to impose such a ban.</p></div>

<div class=newsTextDataWrapInner><p>Excluded from the ban are six types of commercial properties: serviced apartments, small office home offices (SoHo), small office flexible offices (SoFo), small office virtual offices (SoVo), office suites and duplex offices.</p></div>

<div class=newsTextDataWrapInner><p><em>Read also:<br />
<a href="https://theedgemalaysia.com/node/690916" target="_blank">E&amp;O’s 2Q net profit surges to RM30m on higher revenue, absence of forex loss</a></em></p></div>


The ban on short-term rental in Penang has resulted in an increase in property values and rental yields, according to Eastern & Oriental Bhd (E&O).

E&O executive chairman Datuk Tee Eng Ho said the group's property development in Penang was never intended to be marketed as an investment play.

Short-term rental ban in Penang has led to increase in property value, rental yield, says E&O

(Nov 23): One of Malaysia’s wealthiest states is trying to seize control of the nation’s biggest gas reserves, complicating relations in the ruling coalition and threatening a blow to federal revenues.

Borneo challenge looms as Anwar marks two years as Malaysian PM — Bloomberg

BAKU, Azerbaijan (Nov 23): Countries agreed at the UNs COP29 climate conference to spend US$300 billion on annual climate finance. Here are some ways of understanding what that sum is worth:

COP29: How does US$300b stack up?

GEORGE TOWN (Nov 23): Rackson Group has unveiled a landmark RM1.5 billion gross development value (GDV) project in Bayan Lepas, featuring Le Meridien Penang Airport and Avion serviced apartments.

Rackson Group to transform Bayan Lepas skyline with RM1.5b GDV project

KUALA LUMPUR (Nov 23): National Unity Minister Datuk Aaron Ago Dagang reminded Malaysians that racial unity and cultural diversity must continue to be strengthened by all parties and should not be taken for granted.

Don’t take racial unity and diversity for granted, says Aaron

MANILA (Nov 24): The Philippines' security council will verify an alleged assassination threat by Vice President (VP) Sara Duterte against President Ferdinand Marcos Jr, a top official said on Sunday, describing it as a "matter of national security".

Philippine VP's assassination threat against president a national security matter, official says

KOTA TINGGI (Nov 24): Johor’s proposal to implement a four-and-a-half-day work week hinges on the state government’s rationale, said Minister in the Prime Minister's Department (Law and Institutional Reform) Datuk Seri Azalina Othman Said.

Azalina: Johor’s four-and-a-half-day work week depends on state govt’s rationale

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MOSCOW (Nov 23): Russian President Vladimir Putin signed a law on Saturday on debt forgiveness for new army recruits signing up to fight in Ukraine, a Russian government website showed.

Putin signs law forgiving debt arrears for new Russian recruits for Ukraine war

KUALA LUMPUR (Nov 23): The government has called on stakeholders, particularly housing developers, to adopt alternative energy sources such as solar power, and prioritise biodiversity, Deputy Prime Minister Datuk Seri Fadillah Yusof said.

Govt urges stakeholders, housing developers to embrace RE, enhance sustainability efforts, says Fadillah

KUALA LUMPUR (Nov 23): Prime Minister Datuk Seri Anwar Ibrahim reaffirmed the Madani government's commitment to prioritising the welfare of the people across all states, including those led by the opposition, by steadily increasing their allocations.

PM: Allocations for all states raised continuously

<p>KUALA LUMPUR (Nov 24): Sime Darby Property Bhd (KL:SIMEPROP) took the No 1 spot at this year’s The Edge Malaysia Top Property Developers Awards (TPDA). This is the second time it has done so, the first time being in 2009. It was also the joint winner of the Best in Qualitative Attributes sub-award this year.&nbsp;</p>


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<p>(Nov 23):&nbsp;One of Malaysia’s wealthiest states is trying to seize control of the nation’s biggest gas reserves, complicating relations in the ruling coalition and threatening a blow to federal revenues.&nbsp;</p>


<p>(Nov 23):&nbsp;In the waning days of his administration, US President Joe Biden is pushing to strengthen Ukraine’s position against Russia before the return of Donald Trump to the White House.</p>


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<p>KUALA LUMPUR (Nov 24): William Dalrymple — scholar, detective, master storyteller and acclaimed historian — weaves together the various narratives and legacies of Ancient India in his latest book, The Golden Road, which trumpets the subcontinent’s impact as a primaeval superpower, the effects of which reverberate until today.&nbsp;</p>


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<p>KOTA TINGGI (Nov 24): Johor’s proposal to implement a four-and-a-half-day work week&nbsp;hinges on the state government’s rationale, said Minister in the Prime Minister's Department (Law and Institutional Reform) Datuk Seri Azalina Othman Said.</p>


<p>GEORGE TOWN (Nov 23): Rackson Group has unveiled a landmark RM1.5 billion gross development value (GDV) project in Bayan Lepas, featuring Le Meridien Penang Airport and Avion serviced apartments. &nbsp;</p>


<p>MANILA (Nov 24): The Philippines' security council will verify an alleged assassination threat by Vice President (VP) Sara Duterte against President Ferdinand Marcos Jr, a top official said on Sunday, describing it as a "matter of national security".</p>


<p>KUALA LUMPUR (Nov 23): Prime Minister Datuk Seri Anwar Ibrahim reaffirmed the Madani&nbsp;government's commitment to prioritising the welfare of the people across all states, including those led by the opposition, by steadily increasing their allocations.</p>


<p>KUALA LUMPUR (Nov 23): The government has called on stakeholders, particularly housing developers, to adopt alternative energy sources&nbsp;such as solar power, and prioritise biodiversity, Deputy Prime Minister Datuk Seri Fadillah Yusof said. &nbsp;</p>


<p>MOSCOW (Nov 23): Russian President Vladimir Putin signed a law on Saturday on debt forgiveness for new army recruits signing up to fight in Ukraine, a Russian government website showed.</p>


<p>BAKU, Azerbaijan (Nov 23): Countries agreed at the UNs COP29 climate conference to spend US$300 billion on annual climate finance. Here are some ways of understanding what that sum is worth:</p>


<p>KUALA LUMPUR (Nov 23): National Unity Minister Datuk Aaron Ago Dagang reminded Malaysians that racial unity and cultural diversity must continue to be strengthened by all parties and should not be taken for granted.&nbsp;</p>


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<p><a href="/node/734414" target="_blank">620,000 Malaysian jobs across 10 sectors at high ris...