Among the other pricey projects were Casa Residenza (RM510 psf) and Cova Villa (RM432 psf), which are located in Taman Sains Selangor.

This comes as a pleasant surprise given that the amount is not due till end-2017.

The property segment could see an improvement on the back of asset disposals.

Upon completion of the acquisition, Tham is effectively the single-largest shareholder of E&O, followed by Sime Darby with a 12% stake.

Penang-based developer Ideal Property Group plans to launch RM2.723 billion worth of condominium projects, with more than 3,600 units in total, on the island this year.

The most expensive project was I Residence, with an average price per unit at about RM605,000.

Recent confirmation of Datuk Khor Chap Jen as chief executive officer has removed the company’s leadership uncertainty.

Chan Sow Lin, an industrial area in Kuala Lumpur, has seen plenty of interest from developers in recent years. This is thanks to its close proximity to the upcoming Bandar Malaysia project as well as Dewan Bandaraya Kuala Lumpur’s plan to revitalise Chan Sow Lin and transform it into a neighbourhood of residential, commercial and industrial properties.

While Kota Damansara was originally developed as a low- to medium-cost housing estate, the neighbourhood is on the property investor’s radar due to its proximity to the heart of Petaling Jaya and next to the future Kwasa Damansara township.

When S P Setia Bhd drew up the plans for its corporate headquarters at Setia City commercial centre at its flagship township Setia Alam in Shah Alam, the developer knew it wanted an icon that signified its commitment to sustainable development.