The sales target of RM1.4 billion is 40% higher than its expected sales of RM1 billion for FY15.

With an average unit price of RM460,000, Fortune Avenue has fewer facilities than First Residence, but is more strategically located, close to AEON Big Kepong and Kepong Metropolitan Lake Garden. The Fortune Perdana Lakeside Kepong development will be located in the adjacent plot. 

The Edge Malaysia business and investment weekly reports in its latest Jan 4 to 10 issue that the transaction translated into RM12.35 billion or about RM583.37 psf for the 194ha (486 acre) Bandar Malaysia land at Sungai Besi here.

The Penang-based company, which was originally involved only in the manufacture of precision sheet metal fabricated parts, is jointly developing the RM800 million City of Dreams condominium project in Bandar Tanjong Pinang, Penang with Consortium Zenith BUCG Sdn Bhd, and bagged its second project on the island last week.

The acquisition comes with a rental income guarantee of RM15 million or RM5 million per annum for the first three years. 

However, this is after we cut our earnings forecast by 68% in the second quarter of 2016 due to slower-than-expected billing progress from its property development and construction division, and weak sales.

The Sungai Buloh-Kajang line should significantly shorten travelling times between Kepong, Kuala Lumpur city centre and Petaling Jaya.

This week, we continue to look at developments that link themselves to prominent addresses.

In Scotland, doors are red when the owners have paid off their mortgage and own their homes outright.

The performance of the different segments — residential, commercial, retail, hospitality and industrial — across all the markets was mixed. The office segment in Hong Kong and China, for example, was vibrant due to foreign investment while in the UK, the commercial segment was strong.