KUALA LUMPUR: IRIS Coropration Bhd (ICB) is poised to venture into property development via its new subsidiary IRIS Land Sdn Bhd, formerly known as Peak Structure Sdn Bhd.

The group announced on Thursday, July 28, that it had acquired the entire issued and paid-up share capital comprising two shares for RM2 cash on July 27.

KUALA LUMPUR: The property development market in Malaysia is not ready to completely adopt the build-then-sell (BTS) concept, said industry players together with Housing and Local Government Minister Datuk Wira Chor Chee Heung.

KUALA LUMPUR: The Penang state government will be putting up a parcel of land located between the Penang's first bridge and Queensbay shopping mall in the open market for international open tender.

KUALA LUMPUR: Property buying trends in Penang may see a movement away from high-end to medium-priced properties, said Penang's chief minister, Lim Guan Eng.

This assertion was based on the volume of real estate transaction, which grew from 22,323 units as of 2008 to 22,724 units by 2009, but the transaction value decreased from RM7.27 million in 2008 to RM6.53 million in 2009.

PETALING JAYA: The Virtual Peaks Group Sdn Bhd (Virtual Peaks) on Thursday, July 29 unveiled plans for its five-acre boutique resort in Bali, Emerald Tulamben Resort & Spa, which it acquired in May this year.

KUALA LUMPUR: UEM Land Holding Bhd is making its presence felt in Klang Valley with the launch of Symphony Hills in Cyberjaya, revealed Datuk Wan Abdullah Wan Ibrahim, managing director and CEO of UEM Land Holding Bhd, at the Symphony Hills media briefing in Cyberjaya on Thursday, July 29.

KUALA LUMPUR: There are still 51 out of 151 abandoned housing projects identified by the government that are awaiting to be saved by "white knights", said Housing and Local Government Minister Datuk Wira Chor Chee Heung.

REDANG ISLAND: The Marine Parks Department plans to gazette 32 more islands as marine parks to raise to 74 the number of islands so categorised to protect marine resources including corals.

Its director-general, Abdul Jamal Maidin, said the department was gathering data on the islands to make the recommendation to the government as soon as possible.

SHANGHAI: Tightening measures to curb speculation in China's real estate sector will not be changed, the official Shanghai Securities News reported on Thursday, July 29 citing a government researcher.

Liu Yingjie, a researcher at China's State Council, or cabinet, said regulation in the property market had been effective in regulating the surge in housing prices in some cities.

KUALA LUMPUR: Low profile and thinly property stock Plenitude Bhd recently has been chalking up good gains, catching investors' attention.