PETALING JAYA: Only a limited number of retail, office and serviced apartment units of mixed commercial development Jaya One's new phase in Section 13, Petaling Jaya, will be available for sale during its launch on Oct 22.

Building a 'city in a garden'

Chinese investors are making their presence felt abroad as they seek stable assets offering better returns outside their country.

Property auctions are often regarded as a good gauge of the rest of the market. The Hungry Ghost Month this year (July 31 to Aug 28) was especially telling (see Chart 1).

KUALA LUMPUR: Mah Sing Group Bhd is keen to get involved in the government’s efforts to redevelop prized tracts of land here.

PETALING JAYA: Ace Rhythm Sdn Bhd, a wholly-owned subsidiary of Dijaya Corporation Bhd, announced the recent purchase of three parcels of freehold development land along Jalan Sultan Ismail.

The lands measuring one acre was purchased for a total of RM65.3 million with plans to be developed into a mixed development made up of serviced apartments and commercial lots.

KUALA LUMPUR: Malaysia Prime Minister Datuk Seri Najib Razak in tabling Budget 2012 in the Dewan Rakyat on Friday Oct 7, 2011 announced several proposals related to housing and the property sector.

Below are some highlights from the Budget Speech:

* To accelerate the development of Kuala Lumpur International Financial District (KLIFD), an incentive package has been proposed:

KUALA LUMPUR: The construction sector is expected to get more prominence in the Economic Report 2011/2012 with its growth targeted at 7% in 2012 from 3.4% in 2011 as large infrastructure projects including the Mass Rapid Transit project in KL take off.

KUALA LUMPUR: The Federal Government expenditure is expected to increase by only 0.7% to RM181.584 billion from RM180.283 billion in 2011 and RM151.633 billion in 2010, according to the Economic Report 2011/2012.

KUALA LUMPUR: The Federal Government revenue — comprising tax revenue and non-tax revenue — is expected to increase 1.9% to RM186.906 billion in 2012 from RM183.375 billion in 2011 due to better prospects for the domestic economy.