* Lacklustre market with some interest in mid-caps

The KLSE Property Index ended the week flat with marginal loss of 0.1%.

For some, Seri Kembangan in Selangor seems like a sleepy backwater — an under-developed area dotted with buildings that are inferior both in type and design to those in better-known addresses in Kuala Lumpur.To the more discerning, however, Seri Kembangan is emerging as an exciting real estate play.

The popularity of the mainly expatriate enclave of Mont’Kiara in Kuala Lumpur has led to a proliferation of new and exciting residential and commercial developments in the area.

A few years ago, developers with prime land in the vicinity of Kuala Lumpur City Centre (KLCC) were aggressively launching high-end condominiums, with views of the Petronas Twin Towers as their major selling point. It was reported that some units were going for more than RM1,800 psf.

Sceptics of Malaysia’s Petronas Twin Towers will remain, well, sceptics.

The property development landscape in Seri Kembangan is becoming more interesting withmore players getting into the act. Among them are Equine Capital Bhd and LBS Bina Bhd, both of which have presence in the southwestern side of Seri Kembangan.

Building on the Hua Yang Legacy

The word spa immediately conjures up visions of luxury and relaxation, and one may have noticed some recent developments incorporating some spa elements in homes.

As expected, there was no lack of interest in the five commercial buildings put up for sale by tender by real estate investment trust (REIT) Amanah Harta Tanah PNB2 (AHP2), which is managed by Pelaburan Hartanah Nasional Bhd.

Third-quarter Manhattan market reports recently released by the city’s top brokerage firms showed a slowing rate of price decline while the transaction volume increased. The question everyone is asking is when Manhattan would hit bottom.