Property revaluation currently being carried out by the Ipoh City Council (MBI) is necessary to keep up with the overall trend of rising prices, according to mayor Datuk Seri Zamri Man.

He has more than 26 years of experience in the property development and construction industries, starting out his career as a senior architect in BEP Arkitek Sdn Bhd, in charge of high-end property developments in 1994.

It was officially announced that two parties had made it to the final stage of the bidding and it was reported that the names include Tan Sri Lim Kang Ho’s Iskandar Waterfront Holdings Sdn Bhd in partnership with China Railway Construction Corp Ltd.

On the home front, the weaker ringgit did not spur the interest of foreign investors in Malaysian properties due to the unstable political situation here and wait-and-see attitude of the government on cooling measures imposed on foreign buyers.

Just in case you missed our DONE DEALS for 2015, here they are:

Sold for: RM1.9 million or RM749psf, Concluded by: Chris Ng of GMAC Realtors (019-6148656), When: June 2015

Bandar Tanjong Pinang entails 110 acres of reclaimed land in Penang that was given to CZBUCG by the Penang state government as compensation-in-kind for the building of the RM6.3 billion Penang undersea tunnel project, which includes three road bypasses.

Its executive director Datuk Anderson Thor Poh Seng said contribution from its joint venture (JV) property development project dubbed 368 Residences in Jalan Segambut here will also only be coming in towards end of FY16.

LTKM expects the disposal to give rise to an estimated loss of RM767,200 after taking into account estimated expenses and tax expense.

FCW executive director Datuk Anderson Thor said the RM1.5 billion gross development value (GDV) development will comprise three phases, with phase 1 to account for RM500 million of the total GDV.