PETALING JAYA: Crest Builder Holdings Bhd is taking the road less travelled as the niche construction firm bids for some RM3 billion worth of private and public jobs in the country in the current fiscal year.

The move is deemed crucial as the company aims to secure a higher value of projects to boost annual revenue growth by at least a tenth.

We can expect a steady recovery of the property market in 2010, although challenges remain for certain sectors. Last year began on a cautious note due to the global financial crisis, but we saw established developers rising to the occasion by offering innovative financing schemes to boost sales.

On Christmas eve, Mah Sing Group Bhd announced that it was selling en bloc the East Wing of The Icon@Tun Razak, this time for RM226.5 million or RM860 psf (based on net lettable area of 263,435 sq ft), to TS Law Realty Sdn Bhd.Under the deal, TS Law Realty, an investment holding company, will enjoy a monthly rental guarantee of RM1.3 million, which works out to RM4

Watching the glitzy opening act of the world’s tallest building in Dubai on Jan 4, one could be forgiven for momentarily forgetting that this deeply-indebted emirate faces immense problems.

The city's major brokerage firms reported that prices in 4Q2009 in the Manhattan property market had decreased from a year ago while sales had risen. I expect this trend to continue into early 2010. Prudential Douglas Elliman and Miller Samuel reported that the median sales price of an apartment in 4Q2009 was US$810,000 (RM2.7 million), down 10% compared to a year ago.

For some, Seri Kembangan in Selangor seems like a sleepy backwater — an under-developed area dotted with buildings that are inferior both in type and design to those in better-known addresses in Kuala Lumpur.

The popularity of the mainly expatriate enclave of Mont’Kiara in Kuala Lumpur has led to a proliferation of new and exciting residential and commercial developments in the area.

A few years ago, developers with prime land in the vicinity of Kuala Lumpur City Centre (KLCC) were aggressively launching high-end condominiums, with views of the Petronas Twin Towers as their major selling point. It was reported that some units were going for more than RM1,800 psf.

Sceptics of Malaysia’s Petronas Twin Towers will remain, well, sceptics. But frankly, who can ignore the Malaysian icon that has successfully redefined the values of real estate in its midst?

PETALING JAYA: The year 2010 will remain a challenging one for the property sector as it recovers from the impact of the global financial crisis.

A poll by The Edge Malaysia found that property consultants in Malaysia are confident that the residential market will generally improve from last year with better sales expected.