The refund would amount to RM159.25 million, which comprises a RM156.25 million initial payment for the purchase and lease consideration, and RM3 million earnest deposit, for the 182ha plot of land on which the mixed development was planned.

Its chairman Tan Sri Isa Samad said the project will be a strategically placed development. The project is on 640.98 acres (259.4ha) of land, which is one of the largest parcels available in Melaka now.

In conjunction with World Environment Day 2016, property developer S P Setia Bhd had held several activities to raise awareness and educate children on how they can make the world a better place to live in, said the group in a press release.

Property group CapitaLand announced that it is setting up a venture fund, C31 Ventures, to tap global tech start-ups in its ongoing effort to “innovate and build real estate of the future”.

Sapura Resources Bhd will channel proceeds from the sale of its education assets towards its RM1.5 billion property project near the Kuala Lumpur City Centre.

Prasarana Malaysia Bhd will begin to award the first batch of work packages for the upcoming RM9 billion Light Rail Transit Line 3 (LRT3) in the next two to three months.

Datuk Zarul Ahmad Mohd Zulkifli, chairman of Consortium Zenith BUCG Sdn Bhd (CZBUCG), which conducted the study, said it was up to the state to decide whether to construct the undersea tunnel given that the feasibility study was incomplete.

Stamp duty surcharge not curbing foreign buying, say analysts.

The eight highways that are entitled to raise their toll rates from Jan 1 this year are: the North-South Expressway, Linkedua, Kesas, Elite, Lebuhraya Damansara-Puchong, Butterworth-Kulim Expressway, Seremban-Port Dickson Highway and the New North Klang Straits Bypass Expressway.

Global real estate assets under management (AUM) totalled US$2.19 trillion last year, compared with US$2.17 trillion in 2014, according to the Fund Manager Survey 2016.