Bangalore has surpassed Mumbai in this respect for the first time, taking the runner up position in this residential real estate inventory overhang with only the National Capital Region (NCR) ahead of it, said JLL.

The land is slated for a light industrial park and is a part of GUH Holdings' plan to cultivate future earnings growth in its property division, it said in a filing with Bursa Malaysia. 

Chief Minister Lim Guan Eng said the state had entered into a new agreement with Patsifit Construction Sdn Bhd, in line with the state’s aim to build more affordable housing for the people of Penang.

The data showed out of a total of 56 housing markets tracked, 27% recorded an annual decline in price where else back in 2011, over 44% of housing markets fell into this bracket.

The first Mapex was held from April 2 to 5, while the second Mapex took place from July 31 to Aug 2.

Titijaya deputy group managing director Lim Poh Yit said this was after the company had scaled down its launch plans due to uncertain market conditions.

A memorandum of understanding (MOU) will be signed between both organisations within the year to promote the idea of sustainable infrastructure projects.

L&G's managing director Low Gay Teck said there will be a definite impact on imported items, commodity and construction items quoted in US dollars for new projects, but current projects are unaffected.

Occupying levels 11 to 22 of the 30-storey Causeway Regency residence tower, it will offer a host of conveniences and amenities, on top of great location in the heart of the city.

Chief operating officer Stewart Tee said Symphony Life was holding back RM2 billion worth of real estate launches in the Klang Valley to focus on existing projects, in view of the current market. Tee said many existing projects were at the foundation stage.