News by M

Chairman Datuk Mohd Shafei Abdullah said there is good demand for hotels in Kota Bharu and Johor Bahru owing to the rapid development in both cities.

This week, the spotlight falls on the secondary market of non-landed residences in Tropicana and Sunway Damansara in Selangor. Straddling the more commercial areas of Bandar Utama and Mutiara Damansara, both are fairly similar residential areas, consisting primarily of landed properties.

Beauty lies in the eyes of the beholder — you be the judge.

PDC general manager Datuk Rosli Jaafar said a fresh RFP is necessary since the “new technical conditions” to make the project viable would depart from the original RFP.

Allianz SE foresees a 30% to 40% risk that Brexit (Britain’s exit from the EU) will occur, according to the consensus.

The market value of the land parcel and buildings, as appraised by Messrs DTZ Nawawi Tie Leung Property Consultants on April 22, amounts to RM262.5 million.

EcoWorld has paid RM156.25 million for a 20% deposit to Penang Development Corp and will make an announcement in due course after both parties entered into a deed of rescission to give effect to the rescission.

Property developer LBS Bina Group Bhd plans to launch more landed properties next year.

Property stocks have gone into a tailspin as the boom years have come to an abrupt halt. Although valuations have eased, developers are still out of favour with investors because of a lack of earnings catalysts for the medium term.

Buoyed by increasingly upscale developments such as Sunway Nexis and Cascades, capital values have appreciated moderately.