HONG KONG: Chiu Mung-ngor and her husband paid US$3.3 million (RM10 million) for their Hong Kong flat in a luxury apartment block in 2009, lured into buying it partly by its view of the harbour.

Sunway Holdings
Taking On Legoland

THE BUZZ

Last Friday, Sunway announced that it had won a RM258m job for the construction of the Legoland Theme Park (Package 4) in Iskandar, Johor. The project is scheduled for completion on 2 June 2012.

OUR TAKE

TAIPEI: Taiwan stocks closed 0.8% lower on Monday, Mar 7, pressured by construction and transport shares on a planned new property tax and high oil prices.

Fund managers said the main share index would continue to face resistance at the 8,900-point level this week on concerns over high oil prices.

OSK Property Holdings Bhd is putting up its maiden venture Mirage by the Lake in Cyberjaya. The project is designed to create a feeling of living in a castle hidden in the jungle of the smart city.

Positive trend in JB expected to continue
Johor Baru is a city in transition as developments in Iskandar Malaysia enter the implementation stage, says Samuel Tan, director of KGV-Lambert Smith Hampton.

This year is looking to be very busy for Glomac Bhd. The developer is planning numerous launches in its township projects Saujana Bandar Utama in Sungai Buloh and Saujana Rawang in Rawang as well as its niche developments Glomac Damansara in Petaling Jaya, Glomac Mutiara in Mutiara Damansara and Suria Residen in Cheras, among others.

Bandar Saujana UtamaBandar Saujana Utama, Glomac’s flagship township that started in the mid-1990s, sits on a leasehold tract of 1,070 acres in Sungai Buloh, Selangor. The group targets three residential launches this year, the last in the township. “This township is at the tail end of its development,” says Glomac general manager Yap Soon Thai.

The housing market recovery has stalled, according to online research house the Global Property Guide’s latest house price survey. During 2010, only 15 countries for which 4Q statistics are available experienced house price increases, while 21 countries had house price reductions. However, 18 housing markets performed better in 2010 than the previous year, while 16 countries performed worse.

KUALA LUMPUR: Property developer GuocoLand (Malaysia) Bhd is disposing off a 500-acre piece of land in Melaka to Perbadanan Kemajuan Negeri Melaka (PKNM) for RM45 million.

KUALA LUMPUR: Property developer Nam Fatt Corporation Bhd narrowed its net loss for the fourth quarter ended Dec 31, 2010 (4QFY10) to RM133.57 million, from a net loss of RM511 million a year earlier.

Its revenue for the quarter, meanwhile, fell to RM15.57 million from RM45.4 million the previous year.