During the quarter, Sunway REIT also recognised a non-recurring income of RM6.2 million, a court award for the loss of income from Sunway Putra Mall, the statement read.

KWAP chief executive officer Wan Kamaruzaman Wan Ahmad said the land is projected to generate good long-term returns for the pension fund, with a projected gross development value (GDV) of RM780 million.

Investors from Singapore and Hong Kong, who largely drive sales in Kuala Lumpur’s city centre, are waiting for the ringgit to depreciate further before making their purchases, said City Crest Realtors principal Darren Khor.

Mayor Datuk Mhd Amin Nordin Abdul Aziz said the new process would reduce the number of procedures and days for approval of construction of projects.

Petaling Jaya mayor Mohd Azizi Mohd Zain said that the main reason for the congestion was because of the equipment left behind on the roads by contractors.

Savills noted the sale of numerous retail portfolios – including some pan-European ones – last year, and is expected the same trend to continue this year as some retailers look to cash out to invest back into their core businesses, said the firm.

 Quarry equipment distributor SCH Group Bhd’s revenue may decline 20% in the current financial year ending Aug 31, 2016 (FY16) due to the property market’s slowdown

“For the genuine developers, house prices will not drop because they set the price where it will give them a reasonable return."

Selangor Dredging Bhd (SDB) is proposing to develop 588 units of residential properties with a gross development value of RM450 million on two pieces of land it is acquiring in Ulu Klang, Selangor.

Melaka Chief Minister Datuk Seri Idris Haron the talks would focus on the construction of a deep-sea and a maritime industrial park, among others.