GEORGE TOWN: International luxury hotel group Amanresorts International Pte Ltd has been given the letter of award (LoA) by the Penang state government to restore, refurbish, redevelop and manage the 82-year-old Crag Hotel on Penang Hill, making it the first Amanresort for the group in Malaysia.

KUALA LUMPUR: Property player Dijaya Corp Bhd is riding on its strong first quarter ended March 31 (1QFY11) results and RM3.5 billion worth of projects in the pipeline to fuel growth over the next two years.

In a filing with Bursa Malaysia last Friday, Dijaya said its 1QFY11 net profit increased almost five-fold year-on-year to RM18.14 million from RM464,000 a year ago.

KUALA LUMPUR: Sunway City (SunCity) on Friday, May 20 nabbed the Top Property Developer award at the inaugural BCI Awards. This is the first year for the top ten property developer category since the inception of the BCI Asia Top 10 Architects Awards.

KUALA LUMPUR: SBC Corporation Bhd has proposed to acquire three parcels of land measuring 17,879 sq m (4.41 acres) in Mukim Batu, Kuala Lumpur for RM25.08 million, it announced to Bursa Malaysia on Friday, May 27.

KUALA LUMPUR: IJM Land Bhd's net profit more than doubled to RM44 million for the fourth quarter ended March 31, 2011 (4Q) from RM21.87 million a year ago on the back of higher revenue.

KUALA LUMPUR: A special housing scheme will be introduced to enable senior citizens and those without permanent or fixed income to buy houses.

Federal Territories and Urban WellBeing Minister Datuk Raja Nong Chik Raja Zainal Abidin said his ministry were in discussions with the Housing and Local Government Ministry to introduce the scheme to facilitate such purchases.

GEORGE TOWN: The affordable quality housing programme launched under a public-private partnership initiative for urban centres, particularly the Klang Valley, is to be extended to the whole country, Deputy Prime Minister Tan Sri Muhyiddin Yassin said on Sunday, May 29.

Serviced office and residence provider The Nomad Group Bhd aims to boost its office space inventory by 20% to 295,080 sq ft and serviced residence room inventory by 35.6% to 1,000 by the end of this year.

Solid fundamentals pave the way for growth

Singapore is turning out to be an exciting place for Selangor Dredging Bhd’s (SDB) growth. The developer is embarking on its third project in the island republic, a mixed-use development called OKIO on Balestier Road in central Singapore.