Tamansari — a high-end urban renewal project unfolding in Jalan Tun Razak, Kuala Lumpur, where the Pekeliling flats once stood — is expected to give a fillip to the entire area. Riding on this and expected better times this year, construction firm Prinsiptek Corp Bhd is launching its Vue Residences

Buyer interest in the property auction market is now more focused on landed properties in view of the long-term value gain, auctioneers say.

KUALA LUMPUR: The Real Estate and Housing Developers' Association Malaysia (Rehda) is planning to introduce a Home Completion Guarantee Scheme.

Its president Datuk Ng Seing Liong said the scheme would eliminate the possibility of projects being abandoned as Rehda would step in to complete the project should any problem arise.

KUALA LUMPUR: The Real Estate and Housing Developers' Association Malaysia (Rehda) and the Master Builders Association Malaysia (MBAM) will be mass importing steel from neighbouring countries as local steel prices have risen by 10%.

PUTRAJAYA: After a two-year legal battle, Bukit Gasing residents can finally go ahead and challenge a development order issued by the Kuala Lumpur mayor approving a controversial hillslope project in their area.

SHANGHAI: China Overseas Land & Investment Ltd, together with ICBC International Investment Management Ltd, will set up a fund of US$250 million to US$500 million (RM826.2 million to RM1.65 billion) for real estate investments and property development projects in China, Hexun.com reported.

SHANGHAI: Shanghai Zhong Baoxin Investment Co Ltd which is involved in property development, will soon become a wholly-owned subsidiary of China Life Investment Holding Company Ltd, according to the National Business Daily.

• 1Q10 net profit of RM38m was broadly in-line, making-up 19% of street’s FY10E net profit of RM198m and 18% of our estimate of RM208m. Typically, SP Setia (SP) 1Qs and 1Hs are seasonally weaker while 2H makes up 53%-55% of full year net profit.

SHANGHAI: M Square Mall in Shanghai’s Yuyuan Garden business area is scheduled for opening before the World Expo 2010 Shanghai on May 1, hexun.com reported.

Below expectation

1QFY10 results came in below expectations. Net profit only achieved 18.9% and 19.3% of house and consensus full year estimates due to seasonally slower construction progress in 1QFY10, and lower thanmexpected margin. As expected, no dividends were declared for the quarter.