PETALING JAYA: Even though global housing markets are showing signs of tentative recovery, the market is still seen as fragile, according to Knight Frank Global House Price Index 2Q2009.

There are lessons to be learnt from the current global economic crisis. Indeed, it is crucial to learn from past mistakes to move forward. According to Paolo Garonna, the executive-secretary of the United Nations Economic Commission for Europe (UNECE), the crisis would not have become acute had real estate prices remained anchored in fundamentals.

The low-profile Mammoth Empire Holding Sdn Bhd appears to have taken a leaf out of the book of Berjaya Land Bhd and CP Group. The latter two are among property developers that have successfully ventured into the hospitality industry to diversify their earnings base.

To sell bungalows with a price tag of more than RM3 million in Cheras is certainly a daunting task for most developers, given the area’s predominantly working-class profile. However, this has not deterred Mah Sing Group Bhd from tackling the challenge head-on. The developer will be launching One Legenda in Cheras by 1Q2010 upon the completion of its show units.

Seni Nusantara Sdn Bhd’s maiden project, Kiara View, in the Sungei Penchala Malay reserve in Kuala Lumpur, has been selling well since the launch of its first phase in 2005. Although the high-end, low-density, and guarded residential development can only be sold to bumiputeras, the take-up was impressive.

For those who committed to a property last month, the government measures introduced last Monday may have come a little too late. Take S Bariar and her husband, both professionals in their mid-40s, who had been house-hunting in earnest since the end of May this year when the en bloc sale of their apartment at Gillman Heights was completed.

KUALA LUMPUR: Selangor Properties Bhd  posted net profit of RM33.3 million for the third quarter ended July 31, up 182% from RM11.8 million a year ago, boosted by foreign exchange gains and higher profits from property development.It said on Sept 25 revenue rose 36.5% to RM70.55 million from RM51.68 million.

KUALA LUMPUR: Selangor Properties Bhd posted net profit of RM33.3 million for the third quarter ended July 31, up 182% from RM11.8 million a year ago, boosted by foreign exchange gains and higher profits from property development.

KUALA LUMPUR: TSI International Group, a company involved in landbanking has appointed Sovereign Wealth Management Sdn Bhd, a Malaysian-owned wealth management company as the exclusive distributor for its landbanking products in the Malaysian market.

KUALA LUMPUR: The drop in US home sales in August from the previous month could just a be “a temporary blip in the improving trend rather than a sign of renewed weakness,” said US Economist Paul Dales of Capital Economics Ltd based in Toronto.