KUALA LUMPUR: The government has ordered a freeze on all transactions of government-owned land near the Klang River in the city centre pending efforts to clean up the river, according to Kuala Lumpur mayor Tan Sri Ahmad Fuad Ismail.

KUALA LUMPUR: Nadayu Properties Bhd will launch three major property developments with a combined gross development value (GDV) of over RM1.3 billion within the next few months. The projects comprise mixed and residential developments in the Klang Valley, Selangor, and Penang.

KUALA LUMPUR: IJM Corp Bhd is positive on building up its construction order book for FY12 ending March 31 on the back of new infrastructure projects rolling out this year.

GEORGE TOWN: The Penang government has increased its allocation from 150 acres (60ha) to 200 acres in Batu Kawan to build at least 7,300 quality affordable residential units priced between RM72,500 and RM220,000.

BEIJING: Chinese banks need to guard against asset price bubbles and ensure investors are not taking out bank loans to fund equity investments, the bank regulator said yesterday.
Many economists have warned that a sudden bursting of price bubble in the property sector is the biggest risk facing the world’s second-largest economy in the medium to long term.

KUALA LUMPUR: The share price of the new entity Sunway Bhd fell 11% to RM2.49 on its maiden day of trading yesterday, which analysts attribute to poor market conditions rather than its underlying fundamentals.

The property and construction company’s shares opened at RM2.60 with 123,900 shares traded, compared with a reference price of RM2.80. The stock then fell to a low of

KUALA LUMPUR: IJM Land Bhd expects the local property market to remain resilient this year, and plans to launch RM2 billion worth of properties for FY12 ending March 31.

Its managing director and CEO Datuk Soam Heng Choon said IJM Land would continue to launch projects in FY12 due to strong demand for property that is underpinned by young buyers and attractive interest rates.

kUALA LUMPUR: Nadayu Properties Bhd will be launching three major property developments with a combined gross development value of RM1.3 billion in the Klang Valley and Penang from now until year end.

Group executive chairman Hamidon Abdullah said on Wednesday, Aug 24 it would launch a project in Bandar Sunway sometime in September.

KUALA LUMPUR: Plenitude Bhd's net profit for the fourth quarter fell 19.5% to RM22.2 million from RM27.60 million a year earlier due mainly to lower progressive profit recognised on properties sold, completed and handed over.

KUALA LUMPUR: Bandar Raya Developments Bhd's pre-tax profit for the second quarter ended June 30, 2011 dropped to RM23.210 million from RM94.085 million in the corresponding quarter last year.