JOHOR BARU: Phase 1 construction of the RM9 billion Pengerang independent deep water petroleum terminal is progressing well and is scheduled for commissioning in the second quarter (2Q) of next year.

Mohd Yazid Jaafar, CEO of Johor Petroleum Development Corp, said construction is 65% complete.

GEORGE TOWN: The Penang Development Corp (PDC) has announced a Request For Proposal (RFP) to build an international theme park which could be worth more than RM100 million.

General manager Datuk Rosli Jaafar said PDC has identified two sites in Bandar Cassia in Batu Kawan for the theme park and a golf resort.

JUST a few days ahead of a Malaysian Resources Corp Bhd (MRCB) shareholders' meeting to decide on a transaction to acquire the assets of Gapurna group, the Selangor State Development Corporation (PKNS) sent out an official letter stating that it wanted out of the deal.Executives close to PKNS say the entity does not want to participate in the RM729 million corporate exercise between MRCB and Nu

DATUK Abdul Rahman Dahlan is taking charge during a time of rising property prices, dipping yields and high household debt.

KUALA LUMPUR: Hektar Asset Management Sdn Bhd announced that Hektar real estate investment trust (REIT) recorded a positive realised net income of RM10.8 million for the second quarter ended June 30, 2013 from RM9.28 million in the previous corresponding period. Gross revenue increased 22% to RM29.7 million while net property income reached RM17.9 million, an increase of 21.3%.

RIYADH: Saudi Arabia plans to spend about 3 billion riyals (RM2.6 billion) acquiring land in Riyadh to build the capital’s first metro rail system, the official in charge of the project said.

WE first met Amphil Corp Sdn Bhd CEO and director Datuk P K Poh about two years ago when he spoke passionately about his own venture into property development with Rimbun in Embassy Row, Kuala Lumpur. Prior to that, Poh had worked for a public listed developer for 15 years before retiring as its group managing director in 2007.

BIDDING for the last piece of land in the Kuala Lumpur city centre belonging to KLCC Group Bhd has started, say executives familiar with the matter.Some contractors have already submitted bids to build a retail and office building on the 1.5-acre "Lot D".Analysts expect the development of Lot D, located next to the Mandarin Oriental Hotel, to start by the end of the year.

HONG KONG: Investment in mainland China property fell 12.5% to US$24.9 billion (RM80.7 billion) in the second quarter (2Q), dragged lower by a fall in land sales,  growing difficulty in sourcing capital and a slowdown in the economy, according to property consultancy DTZ.

NEW DELHI: Tune Hotels plans to take on Indian branded budget hotel chains including Tata’s Ginger and Lemon Tree Hotels Pvt Ltd’s Red Fox by opening 30 properties in the next three years with an investment of US$30 million (RM93.3 million), up from one now.