Sunway dissolves dormant Sunway Property

KUALA LUMPUR: Main board-listed Sunway Holdings Bhd said it has received the approval from the Companies Commission of Malaysia (CCM) to dissolve its dormant 82.5%-owned subsidiary, Sunway Property Sdn Bhd.

Mahajaya terminates shopoffice sale

KUALA LUMPUR: Main board-listed property company, Mahajaya Bhd said the company's wholly owned sub-subsidiary, Medan Damai Sdn Bhd revoked and rescinded a sales and purchase agreement (SPA) to sell a unit of a 3-storey shop office property located in Petaling Jaya to Pluto Heights Sdn Bhd, Teguh Menarik Sdn Bhd and Rancangan Impian Sdn Bhd.

Mudajaya JV secures RM241 million project

KUALA LUMPUR: Mudajaya Group Bhd and its joint-venture partner Bina Rezeki have secured a RM241.29 million project to design and build the Boulevard Plaza Development at Lot 3C7, Putrajaya.

Mudajaya said on Feb 4 the JV had received the letter of acceptance from Boulevard Plaza Sdn Bhd, the owner of the project.

Resorts World Sentosa expects 13 million visitors

SINGAPORE: Resorts World Sentosa, the Genting Group's latest and largest family destination in Singapore, expects 13 million visitors in its first year of operations.

The resort, spanning over 49ha on Sentosa Island, is built at a cost S$6.45 billion (RM15.6 billion), and is Genting Group's most expensive, most exquisite and ambitious project.

MSL Properties expects 5% to 6% ROI on new mall

KUALA LUMPUR: MSL Properties Sdn Bhd expects a return of investment (ROI) of between 5% and 6% annually from its recently-opened community and lifestyle mall, Wangsa Walk Mall.

With a construction cost of about RM100 million, the shopping mall opened its doors in September 2009 with a tenancy of close to 96%, said Retail Mall General Manager Foong Meng Khum.

1Malaysia Maintenance Fund guidelines next month

KUALA LUMPUR: The Federal Territories and Urban Well-Being Ministry will come up with the guidelines for the distribution of the newly launched 1Malaysia Maintenance Fund (TP1Malaysia) next month.

L&G to start RM400 million development before year-end

KUALA LUMPUR: Land & General Bhd’s (L&G) proposed joint-venture (JV) mixed development in Jalan Ampang here is expected to commence towards the end of the year, said its managing director Low Gay Teck.

He said the development, comprising serviced apartments, studio apartments and commercial space, would have a gross development value (GDV) of about RM400 million.

London luxury-home prices increase most since 2008

EDINBURGH: Luxury-home prices in central London rose last month at the fastest annual pace since April 2008 as a growing number of buyers chased fewer properties on the market, Knight Frank LLP said.