The market value of the land parcel and buildings, as appraised by Messrs DTZ Nawawi Tie Leung Property Consultants on April 22, amounts to RM262.5 million.

EcoWorld has paid RM156.25 million for a 20% deposit to Penang Development Corp and will make an announcement in due course after both parties entered into a deed of rescission to give effect to the rescission.

2015 double-digit growth condos in Selangor.

A picture speaks a thousand words, and sometimes a good photo does a better sales job than any sales pitch by a real estate agent.

Property stocks have gone into a tailspin as the boom years have come to an abrupt halt. Although valuations have eased, developers are still out of favour with investors because of a lack of earnings catalysts for the medium term.

Buoyed by increasingly upscale developments such as Sunway Nexis and Cascades, capital values have appreciated moderately.

Property market cycles come and go, but with prolonged weakness, the current slowdown could point to a much larger economic issue.

From its trendy restaurants to its art and culture centres, Melbourne has long presented itself as one of the most desirable places to live and work. Unsurprisingly, Australian developer Salta Properties is banking on the city’s appeal for the success of its latest project, The Park House, not to mention the latter’s location.

Among the other pricey projects were Casa Residenza (RM510 psf) and Cova Villa (RM432 psf), which are located in Taman Sains Selangor.

This comes as a pleasant surprise given that the amount is not due till end-2017.