In a statement to the exchange today, Eco World said Menteri Besar Inc (MBI), which raised its concerns on the matter, could be referring to a separate portion from the sites, which Eco World was buying.

More such schemes will gradually be set up all over Ipoh and other parts of Perak.

EcoWorld announced on Tuesday that its wholly owned subsidiary, Paragon Pinnacle Sdn Bhd was acquiring 26 pieces of leasehold land from different vendors, which measures a total of 2,198.4 acres (889.66ha) for RM1.18 billion cash.

Khazanah Research Institute managing director Datuk Charon Mokhzani warned that Malaysians will not be able to afford properties if escalating housing prices are not contained.

According to the agent, Zack Ng of Knight Frank, the bungalow was sold with most of its furniture and fittings.

 Selangor Properties recorded a 4.96% increase in revenue to RM24.76 million in 3QFY15 compared to RM23.59 million in 3QFY14.

In a filing with Bursa Malaysia, the group said TDSSB (formerly known as Renown Dynamic Sdn Bhd) has exercised its right to terminate the sale and purchase agreement (SPA) signed on Dec 23, 2013, as the conditions precedent were not fulfilled in accordance with the SPA's provisions.

Through Trash2Treasure the public can find recycling centres, as well as find new owners or buyers for their used items through the core function “Trade In Your Ex”.

With land prices only expected to go upwards, there will only be mostly launches that will be priced above INR one crore and above, said JLL India.