Penang-based developer New Bob Group is building the first green condominium in Seberang Perai. The company had made its foray into the hospitality industry last April with the opening of Tido Penang Hostel, catering for flashpackers, on Argyll Road in George Town. Flashpackers refer to tourists who want to travel on a budget but still desire comfort and stylish accommodation.

The amount due includes the 83% feasibility studies done on the 7.2km undersea tunnel connecting Butterworth on the mainland and Gurney Drive on the island, which has been stopped following instructions given by the Penang government about a month ago, said its chairman Datuk Zarul Ahmad Mohd Zulkifli.

Crest Builder said the contract is for Sime Darby Melawati’s mixed-use development in Setapak here.

In a filing with Bursa Malaysia yesterday, Sunway said the notice states that a development agreement between Sunway City and the state government signed on Sept 11, 1997 had lapsed.

S P Setia Bhd does not fit the profile of a company in search of funding on the open market, not with the strength of its balance sheet and cash flow.

BAT had disposed of its factories and two parcels of leasehold land measuring 5.3ha for RM218 million cash to LGB Properties via a public tender…

Chairman Datuk Mohd Shafei Abdullah said there is good demand for hotels in Kota Bharu and Johor Bahru owing to the rapid development in both cities.

It has decided to venture into property development via a joint venture with landowner Goldpeace Corp Sdn Bhd.

There has been speculation that China may have the advantage for the project.

Covering 17.8 acres, the project will offer 663 apartments (built-up: 818 sq ft) in three blocks. With a gross development value (GDV) of RM273 million, the units will be priced from RM383,999.