THE MALAYSIAN property market got off to a slow start this year with fewer new launches and transactions. The slowdown was in large part attributed to tighter financing rules as well as the cooling measures announced in Budget 2014. These include a hike in the Real Property Gains Tax and an increase in the minimum purchase price for foreign buyers.

WE ALL have dreams and dreams change as we grow older and more mature,” says Tan Sri Leong Hoy Kum.

Relaxed and cheerful, the 56-year-old group managing director and chief executive of Mah Sing Group Bhd smiles fondly as he recalls the days of his youth.

FAR from the popular Gurney Drive in Jalan Gottlieb, Penang, an office building called NB Place is morphing into a block of serviced apartments named Tropic Suites. Developed by New Bob Group, the apartments will be fully furnished and leased out for short terms, says director Dr Lee Ville.

PETALING JAYA: OSK Property Holdings Bhd’s serviced apartments at Eclipse Residence  have seen a take-up of 60% since they were previewed in mid-November, said a company spokesman.The apartments will be launched this weekend, said Chee Kok Keong, OSK Property’s head of sales and marketing.“Eclipse Residence is an upgrade of its predecessor to meet the contemporary lifestyles of urbanites, coupl

KUALA LUMPUR: The Silka Cheras Kuala Lumpur hotel is expected to achieve an occupancy rate of 50% within the first six months of operation after its soft opening on April 23. The hotel’s newly-appointed director of sales, Jacqueline Albert Pensyl, said the hotel operators are optimistic of achieving 50% occupancy within this period.

CYBERJAYA: More than RM14 billion worth of properties will be built in Cyberjaya over four years, mainly by eight developers, said a spokesman for the master developer of the township recently.The eight developers are Emkay Group (RM4 billion), S P Setia Bhd (RM3 billion), Cyberjaya’s master developer Setia Haruman Sdn Bhd (RM2.7 billion), MCT Consortium Bhd (RM2 billion), Areca Properties Sdn

PETALING JAYA: The soon-to-be established new Strata Management Tribunal is set to quickly resolve strata management issues in the housing industry between developers and purchasers, and to do so more cost- efficiently, Yong Yung Choy, the past president of the Home Buyers Tribunal, told a seminar organised by The Real Estate and Housing Developers’ Association (Rehda) Institute yesterday.

KUALA LUMPUR: Singapore-listed steel trader Albedo Ltd said it has met with representatives from Infinite Rewards Inc, a company controlled by tycoon Tan Sri Danny Tan, to discuss outstanding issues in relation to its proposed S$774.14 million (RM2 billion) reverse takeover deal to buy the property development arm of Infinite Rewards.

KUALA LUMPUR: Malaysian Resources Corp Bhd (MRCB) will book a RM240 million gain, translating into 15 sen per share, for the current financial year ending Dec 31, 2014 following the divestment of Platinum Sentral to Quill Capita Trust (QCT).

BEIJING: A company led by top Hong Kong businessman Richard Li said it has sold a landmark Beijing property for more than US$900 million (RM2.9 billion), fuelling speculation about the motive for Chinese property sales by his family.