HONG KONG: Despite both the local and global economic uncertainties, property sales in Hong Kong were active in the first half of 2009, according to Colliers International in its mid-year review and forecast (May 2009 - May 2010) report.

Land & General Bhd (L&G) has kept a low profile since Malaysia Land Properties Sdn Bhd (Mayland) emerged as a key shareholder in the company two years ago, but that is set to change soon.  One of the oldest property developers in the country, L&G was founded by Tan Sri Wan Azmi Wan Hamzah four decades ago and it made a name for itself with the development of the 1,200-acre freehold

Carey Real Estate’s Ampang branch director Avtar Singh is familiar with both Bandar Sungai Buaya and Lembah Beringin. The townships, he recalls, were launched in the early 1990s and the general population profile comprised young working families or retirees. “When the Klang Valley market was booming, highways, interchanges and cheaper homes began to emerge.

When Sri Damansara was established, it provided an alternative “Damansara” address for homebuyers, recalls Metro Homes Sdn Bhd’s director See Kok Loong.

Setia Sky Residences, located near the intersection of Jalan Tun Razak and Jalan Raja Muda Abdul Aziz, is S P Setia Bhd’s maiden luxury high-rise condo development. It comprises four 40-storey blocks on a six-acre freehold commercial plot between Wisma Selborn and Yayasan Selangor.

Since its groundbreaking ceremony in November 2007, little has been heard about the serviced apartment project coming up on the site of the former St Mary’s School in Kuala Lumpur.  It was recently that some units of the project, called St Mary Residences CBD, was put on the market by developer Eastern & Oriental Bhd (E&O).

The commercial property sector in the Klang Valley, having slowed in 1Q2009 in the wake of the global economic crisis from late last year, appears to be showing signs of a rebound.A number of estate agents City & Country spoke to, confirmed that sales in the secondary office market started going up from early April to May.

Teo Hong Lim, executive chairman and CEO of niche-property group, Roxy-Pacific Holdings in Singapore, is in an enviable position and a classic example of a developer looking to top up its land bank given the spate of strong new-home sales for its projects. The developer has launched and fully sold nine residential projects in the past year.

Prime retail rents have fallen in almost every region across the world as the global recession impacts consumer sentiment and retail sales, according to new retail research from CB Richard Ellis (CBRE) in its Global Retail MarketView report.Demand for retail space has declined in most markets as consumers cut back spending and unemployment continues to rise in many countries.

PETALING JAYA: Land & General Bhd (L&G), one of the oldest property developers in the country is back on the property scene after almost a  two-year hiatus.