The secondary luxury housing market in Sydney, one of Malaysians’ favourite overseas property investment destinations, is showing signs of recovery with rising demand and improving consumer confidence, according to Australia-based real estate experts.

KUALA LUMPUR: Ireka Corp is buying about one-acre of prime land on Jalan Kia Peng, where the Top Hat Restaurant once sat, from members of the Kuok family for RM87 million, or about RM2,000 psf.

Vendors of the land are Kuok Chiu Hoon Selina, Kim Kuok Strickland (formerly known as Kuok King Hoon Kim) and Farah Azman, all related to Tan Sri Robert Kuok, Malaysia’s richest man.

KUALA LUMPUR: Sunrise Bhd’s completed development 10 Mont’Kiara (MK10) has started the hand over process since early December 2009. A media tour of the premises on Dec 11 showcased very green spaces with a myriad of plants.

KUALA LUMPUR: Day 2 at Cityscape India 2009 saw the release of two reports from Colliers, the “Investment Perception Survey” and the “Education -- Emerging Non Conventional Real Estate”.

PETALING JAYA: Seri Kembangan has been regarded as an under-developed area in the past.  In recent years however, it is emerging as a property hot spot, according to some property consultants. Together with nearby Puchong and Cyberjaya, the area is rapidly evolving into what is touted to be a new Golden Triangle in the Southern Corridor of the Klang Valley.

KUALA LUMPUR: Magna Prima Bhd on Dec 10 entered into a sale and purchase agreement with Santari Sdn Bhd for the acquisition of a 5.5-acre freehold tract in Bukit Jalil for RM10.7 million. The property is currently vacant and will be developed for the relocation of the existing Lai Meng Primary School and Lai Meng Kindergarten, currently located along Jalan Ampang in Kuala Lumpur.

KUALA LUMPUR: The Bukit Antarabangsa landslide report can be used as a guideline by developers when planning or undertaking projects, said Real Estate and Housing Developers' Association Malaysia (Rehda) president Datuk Ng Seing Liong.

PETALING JAYA: Naza Hotel Management, a unit of Naza Group, plans to add two to three new hotels to its stable, with one in Kuala Lumpur’s Golden Triangle, over the next three to five years.

Director of Naza Hotel Management, Nur Nadia SM Nasimuddin said the company plans to invest between RM50 million and RM60 million for each hotel.

KUALA LUMPUR: YTL Land & Development Bhd’s Midfields (picture), a mixed residential and commercial development in Sungai Besi, Kuala Lumpur will be launching its final (Block C) block of condominium units this weekend (Dec 12) following the good response to the launch of Block B last week.

KUALA LUMPUR: Landmarks Bhd announced today (Dec 10) the appointment of Sheraton Overseas Management Corp, an affiliate of Starwood Hotels & Resorts Worldwide, Inc (Starwood Hotels & Resorts) as The Andaman Langkawi’s new operator effective Dec 10.