Positive trend in JB expected to continue
Johor Baru is a city in transition as developments in Iskandar Malaysia enter the implementation stage, says Samuel Tan, director of KGV-Lambert Smith Hampton.

This year is looking to be very busy for Glomac Bhd. The developer is planning numerous launches in its township projects Saujana Bandar Utama in Sungai Buloh and Saujana Rawang in Rawang as well as its niche developments Glomac Damansara in Petaling Jaya, Glomac Mutiara in Mutiara Damansara and Suria Residen in Cheras, among others.

Bandar Saujana UtamaBandar Saujana Utama, Glomac’s flagship township that started in the mid-1990s, sits on a leasehold tract of 1,070 acres in Sungai Buloh, Selangor. The group targets three residential launches this year, the last in the township. “This township is at the tail end of its development,” says Glomac general manager Yap Soon Thai.

The housing market recovery has stalled, according to online research house the Global Property Guide’s latest house price survey. During 2010, only 15 countries for which 4Q statistics are available experienced house price increases, while 21 countries had house price reductions. However, 18 housing markets performed better in 2010 than the previous year, while 16 countries performed worse.

KUALA LUMPUR: Property developer GuocoLand (Malaysia) Bhd is disposing off a 500-acre piece of land in Melaka to Perbadanan Kemajuan Negeri Melaka (PKNM) for RM45 million.

KUALA LUMPUR: Property developer Nam Fatt Corporation Bhd narrowed its net loss for the fourth quarter ended Dec 31, 2010 (4QFY10) to RM133.57 million, from a net loss of RM511 million a year earlier.

Its revenue for the quarter, meanwhile, fell to RM15.57 million from RM45.4 million the previous year.

KUALA LUMPUR: Sunway Holdings Bhd's unit Sunway Construction Sdn Bhd (SunCon) has accepted the letter of award (LoA) for a contract worth RM257.97 million from IDR Assets Sdn Bhd.

KUALA LUMPUR: Fajarbaru Builder Group Bhd's unit has received the letter of acceptance from the Bina Puri Holdings Bhd-TIM Sekata joint venture for part of the Light Rail Transit (LRT) extension project.

Fajarbaru said on Friday, March 4 its unit Fajarbaru Builder Sdn Bhd was appointed by Syarikat Prasarana Negara Bhd as the nominated sub-contractor to the joint venture.

KUALA LUMPUR: Following the success of Phase 1 of Nadayu 92 in Kajang, its developer Mutiara Goodyear Development Bhd will be launching the next phase of the lifestyle homes.

Encouraged by the strong response to phase one which was sold out within a day, Mutiara is offering another four units of luxury bungalows and 24 units of semi-detached homes for sale.

KUALA LUMPUR: UEM Group Bhd will remain committed in India and invest in the country's infrastructure projects particularly expressways as well as provide construction, technical and consultancy services.