KUALA LUMPUR: Suntrack Development Sdn Bhd's SummerGlades in Cyberjaya have been 85% sold prior to launch with construction starting end-July.

The gross development value of this project is RM115 million, and is targeted to be completed by 1Q2012.

Just months after government measures dampened enthusiasm for flat-buying, the market is roaring back — so much so that some properties are back to 1997 levels.

Taking advantage of the upturn in sentiment, developers will release nearly HK$4 billion (RM1.65 billion) worth of flats this weekend.

On higher ground

KUALA LUMPUR: MTD ACPI Engineering Bhd, through its wholly owned subsidiary Makin Permata Sdn Bhd, entered into a sales and purchase agreement with Campio Builders Sdn Bhd on July 6 for a 3.434-acre freehold commercial tract for RM8.23 million, the Group announced in a filing with Bursa Malaysia on Wednesday, July 7.

PENANG: Residents of Kampung Tanjong Tokong here want to send a memorandum to Prime Minister Datuk Seri Najib Tun Razak requesting federal government aid of RM300 million to redevelop the traditional village which is more than 250 years old.

BEIJING: China has no plans to launch a new round of property market tightening in in the third quarter, a senior official said in remarks published on Wednesday, July 7, refuting earlier media reports.

KUALA LUMPUR: Total investment in China’s real estate was up by 38.2% year-on-year (y-o-y) from January to May 2010, reaching a total of 1.39 trillion yuan (RM657 million) according to China’s National Bureau of Statistics.

ANALYSTS expect property prices in China's major cities will start to fall next month, weighed down by an increase in the supply of new flats.

CHINA homebuyers have started to arrive in Paris, joining Hong Kong and Singaporean investors buying in the French capital's city centre, estate agency Knight Frank says.