Transaction volume may have thinned in 3Q2010, but in the rarefied space of good class bungalows (GCBs) in the prime districts of Singapore, prices have continued to soar. However, there has been some resistance building up, says Steven Ming, executive director of investment sales and Prestige Homes at Savills Singapore.

S P Setia hits RM2 bil sales target S P Setia Bhd had recorded sales of RM1.95 billion as at Aug 31, achieving its FY2010 sales target of RM2 billion with two months to spare. The 10-month sales value exceeded the group’s highest sales value of RM1.65 billion recorded in FY2009 by 18%.

Mutiara in JV with MK LandMutiara Goodyear Development Bhd (Mutiara) is planning to develop a piece of land in Sepang, Selangor, in a joint venture with Paramoden Sdn Bhd, a subsidiary of MK Land Holdings Bhd.Mutiara, via its wholly owned subsidiary Susuran Timur Sdn Bhd, entered into a joint development agreement with Paramoden on Sept 30.

PJD to launch RM750m GDV project in CherasPJ Development Holdings Bhd (PJD) is expected to launch an integrated development with a gross development value (GDV) of about RM750 million in Cheras by the middle of 2011, said its managing director Wong Ah Chiew last Monday.

TA Global forms JV on Sydney project TA Global Bhd is partnering Sydney-based property fund management and development company Charter Hall Group to develop Little Bay, a A$600 million (RM1.84 billion) residential project in Sydney, Australia.

With prime development tracts in the Klang Valley becoming increasingly scarce, Land & General Bhd (L&G), the master developer of Bandar Sri Damansara in Selangor, will focus on high-rise housing.

Greater KL to drive rapid growthThe aspiration for Greater Kuala Lumpur/Klang Valley (Greater KL/KV) is to drive rapid growth parallel with upgrading the city’s liveability, according to the government in its Economic Transformation Programme (ETP): A Roadmap for Malaysia.

Kuching City wins Sustainable City Award The Kuching North City Commission (DBKU) has won the Sustainable City Award at the National Environmental Awards 2009/2010 for the second consecutive time.

IJM Land and MRCB to mergeIJM Land Bhd and Malaysian Resources Corp Bhd (MRCB) have proposed a merger which will create one of the largest property players in the country, with a market capitalisation exceeding RM7 billion and a landbank of over 9,000 acres. The companies entered into a memorandum of understanding on the exercise on Nov 23.

Iskandar Malaysia receives additional RM700mIskandar Malaysia will receive an additional allocation of RM700 million for infrastructure development over the next two years, said Johor Menteri Besar Datuk Abdul Ghani Othman on Nov 30.