JOHOR BARU: Builder and niche lifestyle property developer Gabungan AQRS Bhd plans to launch the second phase of its luxury condominium project in Johor Baru, which has a gross development value (GDV) of RM500 million, by end-2015.

KUALA LUMPUR: Tropicana Corp Bhd plans to launch RM2.6 billion worth of properties in the Klang Valley and Johor in the second half of the year.

GEORGE TOWN: Ivory Properties Group Bhd has teamed up with Penang-based Aspen Vision Development Sdn Bhd (Aspen Group) to jointly develop a township with a gross development value (GDV) of RM8 billion, on 245 acres (99ha) of freehold land in Bandar Cassia, Batu Kawan in Penang.

KUALA LUMPUR: Tan Sri Vincent Tan’s business units are collectively selling a 70% stake in Berjaya (China) Great Mall Co Ltd (GMOC) to Hong Kong-listed Carnival Group for a price that is yet to be negotiated.

GMOC, which has a fully paid-up capital of US$185.51 million (RM589 million), is undertaking a massive project to build the world’s largest shopping mall in the Hebei province.

NEW YORK: Paramount Group Inc, a US office landlord, filed for an initial public offering (IPO) that is poised to be the largest ever for a real estate investment trust (REIT).

KUALA LUMPUR: Commercial values of sites for prime offices here have dropped 2.7% in the first six months of the year amid a “challenging leasing environment”, said Knight Frank Asia-Pacific head of research Nicholas Holt in the Prime Asia Development Land Index report for the first half of 2014 (1H14).

KUALA LUMPUR: Prime residential prices in 32 cities rose 6.2% on average led by luxury homes in prime cities of the United States in the first half of 2014, putting Asia-Pacific and Europe at the bottom of the list, said Knight Frank Research’s international residential consultant Kate Everett-Allen in the Prime Global Cities Index report published this month.