Other proposals forwarded by property developers to help first-time homebuyers include higher loan-to-value ratios and reinstatement of the developer’s interest bearing scheme.

The Novotel Melbourne acquisition lowers FHT’s exposure to the post Brexit UK market as well as the declining Singapore market.

Wholly owned subsidiary CapitaLand (Vietnam) Holdings will hold a 100% stake in the 0.5ha site which is expected to offer 302 units across two towers: A 17-storey residential tower and a 22-storey serviced residence tower.

Analysts said state-controlled UEM Sunrise was also in the spotlight, ahead of the country's Budget 2017 announcement this Oct 21.

Deputy chief minister Datuk Amar Abang Johari Tun Abang Haji Openg feels that such a move could pose a financial risk to the developers and such a plan may not be sustainable in the long-term.

The development in Batu Kawan will boast the first Ikea store in Penang and the northern region.

BLand said its unit Alam Baiduri Sdn Bhd had inked a sale and purchase agreement with BerjayaCity Sdn Bhd (BCity), a 100%-owned subsidiary of its parent, Berjaya Corp Bhd, to effect the land deal.

With attractive yields on offer besides the relative weakness of the Malaysian ringgit, Kuala Lumpur gives real estate investors the best value in terms of long-term growth prospects, according to international real estate services firm Knight Frank in its 2017 Global Cities report.

The annual MIEA National Real Estate Awards (NREA) organised by the Malaysian Institute of Estate Agents (MIEA) has received 31 submissions and more than 20 winners will be announced at the gala dinner to be held on Oct 1 at Sime Darby Convention Centre in Kuala Lumpur.

Sold for: RM1 million (RM943.40 psf); Concluded by: May Hwa (REN 02007) of Reapfield Properties (017-249 1112); When: June 2016