The RM40 billion project, covering 616.59 acres on three man-made islands and comprising luxury residences, shopping malls, office spaces and recreational areas besides port and marina, is expected to be ready in 2025.

Ivory Properties chief operating officer Goh Chin Heng said Tropicana Ivory Sdn Bhd will kick-start the tender process in a matter of months, which was postponed twice after having problems getting approvals from the local authorities within the stipulated time which were prerequisites for the tender.

Although SkyWorld was incorporated in 2006, it did not launch any project until it unveiled the leasehold SkyArena development.

Eleven projects took home awards in the environmental (rehabilitation/conversation), hotel, industrial, master plan, office, residential (high rise), residential (mid rise), residential (low rise), resort, retail and sustainable development categories.

The property developer told the regulator it is not aware of any corporate development relating to the group’s business and affairs, nor any rumour or report concerning its business, that may account for the UMA including those in the state of negotiation/discussion.

Council licensing and urban services department director Iskandar Arifin said compliance to cleanliness rules was low in the wet market.

Net profit jumped over two times or 130.58% to RM16.48 million in the second quarter ended Sept 30, 2015 (2QFY16), from RM7.03 million a year ago, mainly from its overseas properties division.

RPGT are the alphabets that matter for the slow property season.

Private sector can’t compete on cost with government schemes, says consultant.

The fund, Malaysia’s first industrial development fund, is initiated by private equity firm, AREA Management Sdn Bhd.