In Penang  The overwhelming response to I&P Group’s Temasya Suria in Glenmarie, Shah Alam, on Aug 1, has come on the heels of a property buying frenzy in the Klang Valley and up north in Penang. The overnight queues, a feature of a hot property market, are back, though for selective projects.It is noteworthy that properties being snapped up are the high-end types.

In a span of three months — at a time when the Malaysian property market was enveloped in gloom — Sime Darby Property Bhd managed to generate RM1 billion worth of sales in a marketing campaign termed the Third Parade of Homes (POH3).Interestingly, while POH3 was designed to clear existing stock, it succeeded in doing much more.

It was in December last year when Mines Resort City’s founder Tan Sri Lee Kim Yew announced his intent to develop Mines Golf City in Selangor. With an expected gross development value (GDV) of RM3 billion, the project will feature a 63-hole golf course with residential real estate.

Those familiar with the 791-acre leasehold Damansara Perdana township in Petaling Jaya will notice that there are mainly highrise residential properties in the area. Many may not know but there is an 81-acre parcel known as the North West Corner, which the developer MK Land Holdings has allocated for landed homes.

PETALING JAYA: Members of the Master Builders Association of Malaysia (MBAM) and its affiliates want the government to address the impact of the 0.5% ad valorem stamp duty imposed by the government on construction contracts."Before the ruling came into effect on Jan 1, 2009, contractors only needed to pay a flat stamp duty of RM10 per contract.

PETALING JAYA : Believe it or not, the queues to buy property are back!On Aug 1, a commotion among eager buyers threatened to erupt at the launch of the I&P Group’s 2-storey Temasya Suria superlink homes in Glenmarie, Selangor.This was sparked by the appearance of queues that had not been sanctioned by the developer.

PETALING JAYA: Land & General Bhd (L&G), the master developer of Bandar Sri Damansara in Selangor is now debt-free following the full settlement of its RM657 million debt."We are ready for a new chapter of growth.

KUALA LUMPUR: Hap Seng Consolidated Bhd is buying a 50% stake in Menara Citibank for RM303.5 million from Singapore's CapitaLand Ltd and Amsteel Corporation Bhd.Hap Seng said on Aug 7 it was acquiring CapitaLand's entire 30% stake in Inverfin Sdn Bhd -- owner and operator of the 50-storey building in Kuala Lumpur. It was also acquiring the entire 20% stake in Inverfin from Amsteel.

KUALA LUMPUR: The pain gripping the world's rated and unrated commercial real estate companies seems far from over, with significant challenges remaining, Standard & Poor's Ratings Services said.In a report issued on Aug 7, entitled "Global Real Estate Companies Weather Stormy Period, But Still Face Tough Times",S&P credit analyst Craig Parker said the still-challenging credit market an

KUALA LUMPUR: Property stocks may be regaining their lustre as sales showed a pickup in the second quarter (2Q) of the year, fuelling hopes developers could make a turnaround in earnings faster than expected.According to ECM Libra Research, the KLCI property index had gained 4.9% in June, with all property stocks under its coverage in positive territory. However, total property sales in 1Q09 re