GEORGE TOWN: Residents of Penang island’s southeastern quarter have been jolted by revelations that a new reclamation plan is being eyed at the famous Queensbay area, opposite Pulau Jerejak.

The news comes as a shocker not least because there are already a few high-profile reclamation projects in the works in Penang, each boasting mega development projects worth billions.

KUALA LUMPUR: The twice-abandoned Main Place Residence in Subang Jaya, Selangor is finally ready for occupancy after 16 years.

KUALA LUMPUR: Kimlun Corp Bhd has accepted a project to supply and deliver precast concrete segment to Contract T206, Thomson Line of Singapore MRT system for S$20.52 million (RM53.43 million).

GEORGE TOWN: The transaction volume of Penang’s secondary property market for the first half of this year is likely to decline due to banks’ credit-tightening measures, said Malaysian Institute of Estate Agents (MIEA) Penang.

KUALA LUMPUR: The Selangor government has asked Tropicana Corp Bhd to expedite the payment of RM844.2 million for a huge tract of land it sold to the latter just before last year’s general election.

KUALA LUMPUR: KSK Group Bhd has completed the acquisition of a land parcel located in Jalan Conlay in Kuala Lumpur with the finalisation of all due processes following the signing of the sale and purchase agreement (SPA) at the end of December 2013.

KUALA LUMPUR: Paramount Corp Bhd (PCB) inked a deal with Penang Development Corp (PDC) yesterday for the purchase of 30 acres (12.14ha) of freehold land in Batu Kawan for RM65.56 million.

KUALA LUMPUR: Hektar Real Estate Investment Trust (Hektar REIT) is actively looking to acquire neighbourhood malls outside of main city areas that other larger REIT players or investors shy away from.

KUALA LUMPUR: Berjaya Land Bhd reported a net loss of RM19.72 million for its third quarter ended Jan 31 of financial year 2014 (3QFY14), a 14% increase from a net loss of RM17.29 million in the previous corresponding quarter despite higher revenue. Revenue was up 34.4% to RM1.39 billion.

KUALA LUMPUR: Malaysia Aica Bhd’s (Maica) new controlling shareholder, Datuk Ter Leong Yap, is expected to inject three major property developments into the company with an estimated gross development value (GDV) of RM10 billion.