KUALA LUMPUR: SP Setia recorded a 104.4% increase in net profit for its third quarter (3Q) financial results with RM87.3 million compared with RM42.7 million a year ago. Revenue collected in 3Q was RM414.9 million versus RM365.6 million the previous year.

KUALA LUMPUR: SP Setia Bhd has achieved sales of RM1.95 billion as at Aug 31, 2010 thus achieving its full year FY2010 sales target of RM2 billion with two months to spare before its financial year-end.

The 10-month sales value exceeded the Group’s highest sales value over one financial year of RM1.65 billion recorded in FY2009 by 18%.

KUALA LUMPUR: Selangor Properties Bhd recorded a net profit of RM7.5 million for its third quarter (3Q) financial reports, down from RM33.3 million a year ago. Revenue collected was RM42.5 million compared with RM70.5 million the previous year.

KUALA LUMPUR: The Property and Investors Alliance (PAIA) is organising its inaugural property exhibition for three days, starting on Friday, Sept 24 at the Mid Valley Exhibition Centre in Kuala Lumpur.

MUMBAI: High prices and rising mortgage rates are hurting demand in India's once-booming housing market, jeopardising a pipeline of about US$6 billion (RM18.54 billion) in initial public offerings (IPOs) from Indian property companies.

KUALA LUMPUR: Stricter and more comprehensive regulations will be imposed on developers and the appointment of certified independent inspectors will be included in a guideline for development on high-risk slopes in the Federal Territory.

KUALA LUMPUR: Al-Aqar KPJ REIT plans to acquire Jeta Gardens Aged Care Facility and Jeta Gardens Retirement Village (“Properties”) from Jeta Gardens Waterford Trust for a total purchase price of Australian dollar equivalent to RM134.9 million. The REIT announced this in its filing on Wednesday, Sept 22.

KUALA LUMPUR: The second phase of Selayang Spring in Selayang, Selangor comprising apartments and a lifestyle mall will be launched mid-October. 

The development's marketing agent, REI Properties Sdn Bhd's CEO, Dr Daniele Gambero, said Phase 2, also known as 'Cedar' has a gross development value (GDV) of RM115 million.

KUALA LUMPUR: TA Global Bhd recorded a net profit of RM7.41 million compared with RM5.51 million a year ago for its 2Q financial results ended July 31, 2010.

The company announced to Bursa Malaysia on Wednesday, September 22 that revenue earned during the quarter was RM83.11 million compared with RM86.64 million a year ago.

KUALA LUMPUR: Mutiara Goodyear Development Bhd recorded a net loss of RM3.26 million for its first quarter (1Q) financial results ended July 31, 2010 compared with a net profit of RM1.42 million a year ago.

The Group, in its filing with Bursa Malaysia on Wednesday, Sept 22, attributed this to the adoption of IC Interpretation 15 of revenue recognition.