It is undeniable that many in the local property market felt the impact of the global financial tsunami. From 4Q2008, the outlook was dim as interest in properties waned.

SHAH ALAM: The 5% real property gains tax or RPGT from the disposal of all real estate announced in Budget 2010 on Oct 23 did not go down well with many property players and investors.

KUALA LUMPUR: Construction spending in Southeast Asia and Hong Kong is expected to drop further, says BCI Asia in its latest quarterly Construction Starts Report.

Latest data from the construction information research firm revealed a 31% drop in the value of construction starts from the second to the third quarter of 2009.

KUALA LUMPUR: A former president of the Master Builders Association Malaysia (MBAM), Datuk Patrick Wong, died yesterday (Nov 19), two days after he was admitted to hospital due to serious injury sustained in a robbery at his house in Lorong Kemaris 1, Bukit Bandaraya, Bangsar.

PETALING JAYA: Crest Builder Holdings Bhd // posted a 42% year-on-year (y-o-y) rise in net profit to RM3.06 million for its third quarter ended Sept 30, 2009 (3Q09). This was on the back of a 15% increase in revenue to RM88.22 million.

GEORGE TOWN: The state government has imposed hefty increases in the rates for property development and change of land use in a bid to increase its revenue.
The charge for the enhancement of land value has been increased from 25% to 50% for the island and a charge of 12% introduced for the mainland, Chief Minister Lim Guan Eng announced today.

KUALA LUMPUR:Despite a second landslide occurring near the Taman Cheras Awana Flats, near Kajang in Selangor early this morning, residents of the flats are refusing to move out although they have been ordered by the relevant
authorities to do so.

PETALING JAYA: The Kuala Lumpur office market is expected to continue to slowdown due to the considerable amount of new office space coming on stream at end 2009, according to the 3Q2009 Marketbeat Kuala Lumpur Office Report by YY Property Solutions in association with Cushman & Wakefield

KUALA LUMPUR: YTL Corporation Bhd’s wholly owned subsidiary YTL Land & Development Bhd today announced a 51% increase in revenue to RM97.2 million for the three months ending Sept 30, 2009 against the RM64.4 million in revenue recorded last year.

PETALING JAYA: Nusajaya Consolidated Sdn Bhd (NCSB), a joint venture company equally owned by UEM Land Bhd and United Malayan Land Bhd (UM Land), has acquired a parcel of land in Puteri Harbour in Johor Bahru from Bandar Nusajaya Development Sdn Bhd and UEM Land Bhd for RM16.3 million.