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Pessimistic outlook for property sector in 2015

KUALA LUMPUR: Developers’ are pessimistic on the outlook for the property market in the first half of 2015 (1H15) and the gloom is expected to deepen by 2H15,  the Real Estate and Housing Developers’ Association (Rehda) told a media briefing yesterday on its Property Industry Survey 2H14 report.

Submissions for PAM award now open

KELANA JAYA: The Malaysian Institute of Architects (PAM) announced that submissions for its PAM-Tan Sri Chan Sau Lai Architectural Award 2015 are now open. 

“This award recognises the great ideas of this generation and how they define architecture,” said PAM president 2014-2015 Chan Seong Aun at a press conference last Friday.

Nexgram Land makes debut in Cyberjaya and Putrajaya

KUALA LUMPUR: Nexgram Land Sdn Bhd will be involved in mixed developments in Cyberjaya and Putrajaya from mid-2015, with the projects expected to yield a total net profit of RM293 million in the next five years.

Spain, Portugal encourage foreign property investments

KUALA LUMPUR: On the back of a falling euro, foreign investors have more opportunities to own Spanish and Portuguese real estate, says Antonio Vinal Jr, a partner of Spanish law firm Antonio Vinal & Co Abogados.

Paramount eyes double-digit earnings growth

PETALING JAYA: Property developer-cum-education group Paramount Corp Bhd is expecting double-digit growth in its top line and bottom line in the next five years, supported by strong property projects in its pipeline with a gross development value (GDV) of RM9.1 billion, and growing recurring income from its education business.

Pentamaster buys RM5 mil land for expansion

KUALA LUMPUR (March 19): Manufacturer of automated and semi-automated machinery and equipment, Pentamaster Corp Bhd (Pentamaster) has purchased a piece of land in Seberang Perai, to host a new factory in order to cater for increase in production activities.

Trading in Hunza suspended pending material announcement

KUALA LUMPUR (March 19): The trading in the shares of Hunza Properties Bhd has been suspended, following the company’s suspension request, pending release of a material announcement.

According to a filing with the exchange, the suspension of the property developer’s shares will be in effect from 9am to 5pm tomorrow.

Forest City GDV shrinks 25% to RM450b

KUALA LUMPUR (Mar 19): The gross development value (GDV) of the controversial Forest City project, which is to be undertaken by Country Garden Pacific View Sdn Bhd, has shrunk 25% to RM450 billion after the project’s size was cut down by 30%.