GEORGE TOWN (March 5, 2012): Penang-based property developer Ivory Properties Group Bhd is targeting to launch projects worth a total gross development value (GDV) of RM1.4bil this year.

Among the projects to be launched in Penang are The Latitude in Mount Erskine, Penang Times Square’s Phase Three and Phase Four, City Mall and City Residence in Tanjung Tokong.

KUALA LUMPUR (Mar 1): During the fourth quarter (4Q), the total supply of 3-star and 5-star hotels in Kuala Lumpur stood unchanged from the previous quarter at 24,417 keys, while serviced apartments remained at 5,914 since the previous period.

Seri Pajam Development Sdn Bhd may not be a prominent name among the country’s leading developers, but people living in the southern fringes of the Klang Valley may be familiar with this contractor turned developer that has established a reputation for building spacious yet affordable properties.

The ongoing Platinum Victory Face Project that fronts Jalan Sultan Ismail in Kuala Lumpur marks Platinum Victory Sdn Bhd’s first foray into high-end development in the heart of the city.

This year looks set to be a tricky one, with Europe still in the doldrums and only the faintest signs of recovery in the US. Real estate is still much in favour among investors, however, as it is seen as a safe-haven asset class, and in the current climate, knowing exactly where to invest is key.

Niche developers in Singapore have been nimble on their feet since 2009, and the spate of new launches of industrial projects offering strata units for sale following the residential property cooling measures attests to that.

Commercial real estate transaction volumes in Germany are expected to exceed €20 billion (RM79.96 billion) in 2012 with strong demand from both domestic and foreign investors, according to international real estate consultancy Savills.

KUALA LUMPUR (Mar 2): Real Estate and Housing Developers' Association of Malaysia (Rehda) president Datuk Seri Michael Yam announced that Rehda along with the ministry are currently in talks with various financial institutions to discuss further initiatives for the financing of projects.

KUALA LUMPUR (Mar 2): Property developer Dijaya Corp Bhd's share price on Thursday surged 19.44% to an intra-day five-year high of RM1.72, two days after the group announced stellar profits for its FY11 ended Dec 31.

Dijaya's share price was up 21 sen or 14.78% to close at RM1.63 with 8.75 million shares traded on Thursday.

KUALA LUMPUR (Mar 2): Naim Holdings Bhd is preparing to throw in a bid for around RM1 billion worth of mass rapid transit (MRT) related construction works, a local analyst who attended a briefing by the company told The Edge Financial Daily.