KUALA LUMPUR: Alzac Viva Sdn Bhd has to date sold about 70% of the units of its first residential development, Riverville Residences, which was officially launched in mid-July. The condominium, located in the Old Klang Road area, sits on 4.73 acres (1.9ha) of freehold land.

KUALA LUMPUR: Magna Prima Bhd raised eyebrows on Monday when it proposed the issuance of 40 million new redeemable convertible preference shares (RCPS) in Magna Prima to Lembaga Tabung Angkatan Tentera (LTAT), in which some have regarded as overly favourable terms.

KUALA LUMPUR: Malaysian Resources Corp Bhd (MRCB), which in July this year won the bid to develop the RM8 billion MX-1 project, will spend RM816.6 million for a 70% stake in a special purpose vehicle (SPV) company known as Kwasa Development (2) Sdn Bhd, tasked to undertake the project.

JAMES HEE, a property agent who lives with his family of four in a government-built flat he owns in Singapore, was eyeing a condo for about S$1.5 million (RM3.82 million) earlier this year. Then Hee discovered that he wouldn’t qualify for a mortgage after the government restricted lending.

KUALA LUMPUR: Bertam Alliance Bhd is acquiring a 2.75-acre (1.11ha) parcel of land in Taman Luyang in Kota Kinabalu, Sabah for RM41.5 million.

A MASS RAPID TRANSIT (MRT) line always raises the value of nearby properties and since the government announced that Line 2 will run from Sungai Buloh to Putrajaya, real estate executives have gone into overdrive, guessing the alignment as well as where the stations are likely to be located.

KUALA LUMPUR: Guocoland (M) Bhd rose as much as 14%  to a record intraday high in more than six years yesterday, as investors perceived the property developer’s shares as undervalued.

The stock increased 25 sen to RM2.02 in intraday trade, its highest since March 12, 2008, Bloomberg data showed.

KUALA LUMPUR: The Hyderabad City Civil Court has dismissed Tropicana Corp Bhd’s appeal against an order by the Arbitration Tribunal of India to add it as a respondent to a counterclaim by a former joint-venture partner.