PUTRAJAYA: Putrajaya Holdings Sdn Bhd is planning to start construction a commercial project adjacent to Alamanda shopping complex in Precinct 1, Putrajaya sometime next year, said chief executive officer Datuk Azlan Abdul Karim.

Azlan said the company plans to build “a big box retail area” that is designed for retailers of home furnishing and electrical goods.

PETALING JAYA: Sunway City Bhd announced on Oct 27 it has signed an MoU with Sino-Singapore Tianjin Eco-City Investment and Development Co Ltd (SSTEC) to develop a project in Tianjin Eco-City with a gross development value (GDV) of RM2.48 billion.

KUALA LUMPUR: IJM Land Bhd led real estate stocks lower and builders fell after Prime Minister Datuk Seri Najib Tun Razak imposed a capital gains tax on property and the government cut development spending.

IJM Land, Malaysia’s fifth-biggest developer, slid 2% to RM2.44 at 10.28am on Oct 26, outpacing the FTSE Bursa Malaysia KLCI Index’s 0.4% decline. IGB Corp lost 3.3% to RM2.07.

PETALING JAYA: Local property developers have called for a lowering of personal income taxes for Budget 2010 to boost the property market. Budget 2010 will be unveiled on Oct 23 by Finance Minister and Prime Minister Datuk Seri Najib Tun Razak.

PETALING JAYA: The government must continue liberalising Malaysia’s economic policies to encourage more foreign direct investment (FDI) which will in turn further boost the property market, said two property industry veterans.

Sunway City has big plans and while the global financial crisis may have decelerated some of these plans, the developer has its sights firmly trained on the future.Three things excite Sunway City Bhd. According to its managing director (property development) Ngian Siew Siong, they are “property development, our real estate investment trust (REIT) and our regional expansion”.

Bashed by impact of the global financial crisis, property stocks were bad news last year. There was no running away from the close link between the economy and the property market.

There is a new but not unfamiliar name this year at the No 1 spot of The Edge Top Property Developers Awards 2009. Sime Darby Property Bhd (SDP), the property division of Sime Darby Bhd, wrested the top spot from S P Setia Bhd, which had held the position the past four consecutive years.

There is a saying that goes: invest in property investment stocks during a downturn and property development stocks during an upturn.

PETALING JAYA: The Edge Top Property Developers Awards 2009 has ranked Sime Darby Property Bhd (SDP) the No 1 property developer in the country. The overall second spot went to S P Setia Bhd, which was in the number one position the last four years.