The low-profile Mammoth Empire Holding Sdn Bhd appears to have taken a leaf out of the book of Berjaya Land Bhd and CP Group. The latter two are among property developers that have successfully ventured into the hospitality industry to diversify their earnings base.

To sell bungalows with a price tag of more than RM3 million in Cheras is certainly a daunting task for most developers, given the area’s predominantly working-class profile. However, this has not deterred Mah Sing Group Bhd from tackling the challenge head-on. The developer will be launching One Legenda in Cheras by 1Q2010 upon the completion of its show units.

Seni Nusantara Sdn Bhd’s maiden project, Kiara View, in the Sungei Penchala Malay reserve in Kuala Lumpur, has been selling well since the launch of its first phase in 2005. Although the high-end, low-density, and guarded residential development can only be sold to bumiputeras, the take-up was impressive.

For those who committed to a property last month, the government measures introduced last Monday may have come a little too late. Take S Bariar and her husband, both professionals in their mid-40s, who had been house-hunting in earnest since the end of May this year when the en bloc sale of their apartment at Gillman Heights was completed.

KUALA LUMPUR: Selangor Properties Bhd  posted net profit of RM33.3 million for the third quarter ended July 31, up 182% from RM11.8 million a year ago, boosted by foreign exchange gains and higher profits from property development.It said on Sept 25 revenue rose 36.5% to RM70.55 million from RM51.68 million.

KUALA LUMPUR: Selangor Properties Bhd posted net profit of RM33.3 million for the third quarter ended July 31, up 182% from RM11.8 million a year ago, boosted by foreign exchange gains and higher profits from property development.

KUALA LUMPUR: TSI International Group, a company involved in landbanking has appointed Sovereign Wealth Management Sdn Bhd, a Malaysian-owned wealth management company as the exclusive distributor for its landbanking products in the Malaysian market.

KUALA LUMPUR: The drop in US home sales in August from the previous month could just a be “a temporary blip in the improving trend rather than a sign of renewed weakness,” said US Economist Paul Dales of Capital Economics Ltd based in Toronto.

SINGAPORE: Asia’s largest integrated resort in Singapore, Resorts World Sentosa, has created two world’s firsts in collaboration with DreamWorks Animation SKG, Inc within its Universal Studios Singapore theme park.

KUALA LUMPUR: Ho Wah Genting Bhd has mutually agreed with Ivan Khor Property Holding Sdn Bhd to rescind their conditional sale and purchase agreement dated Oct 8, 2008, for Ivan Khor Property to purchase two Kedah properties from HWGB for RM7 million.