By Ooi Tee Ching
bt@nstp.com.my

PROPERTY developer Dijaya Corp Bhd is mulling the sale of its 207ha agricultural land in Perak for some RM25 million to help fund its Tropicana City mixed development in Petaling Jaya.

“We may consider selling the land in Behrang. The money can then be used to top up the working capital for Tropicana City,” Dijaya managing director Tong Kien Onn told Business Times in an interview.
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By Sharen Kaur
sharen@nstp.com.my

PROPERTY developer United Malayan Land Bhd (UMLand) plans to launch two new projects worth some RM1.5 billion in Kuala Lumpur in the next 10 months, says its chief.

Group chief executive officer Anthony Yap said the company is expected to launch the first project by the third quarter of 2008, which will comprise 310 units of serviced residences on 0.6ha nestled within the serene enclave of Bukit Ceylon.
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By CHAN CHING THUT

THE completion of Parkville, the latest phase of Lake Edge, in January offers yet another opportunity for those who seek something more than just a place to call home in Puchong.

Since YTL Land & Development Bhd’s wholly owned subsidiary Pakatan Perakbina Sdn Bhd launched the 100-acre Lake Edge development in 2004, it has stirred up quite a buzz and will continue to do so with the newest offering.

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PROPERTY TALK (By S.C. CHEAH)

THE guest list at the Kuala Lumpur launch of The Chicago Spire at the Mandarin Oriental on April 2 comprised the who’s who in Malaysia, with members of the royal family, corporate bigwigs and politicians eager to know more about the world’s tallest exclusively-residential building.

Selling agents Savills Rahim & Co which hosted the launch closed a few sales that day. “We’re confident of having five buyers, possibly more soon. This (number) is quite big to be sold in KL for such a high-end property,” said Savills Rahim & Co chairman Datuk Abdul Rahim Rahman.

Indeed, at a lofty height of 150 floors and soaring 2,000 ft (609.6m), The Chicago Spire is higher than the current world’s tallest building, the Taipeh 101. It is also taller than the Petronas Twin Towers, at one time the tallest buildings in the world. The Burj Dubai at 2,500 ft currently under construction will take the crown. Penang Hill is 2,723ft above sea level.

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By S.C. CHEAH

PROPERTY prices in the Kuala Lumpur City Centre (KLCC) area will continue to rise, as more and more foreign investors snap up the country’s comparatively cheaper high-end condominiums, said veteran international property consultant Datuk Abdul Rahim Rahman.

Abdul Rahim, who is chairman of Savills Rahim & Co, is confident that KLCC prices would increase further as land and building material prices continue to soar, mainly due to the hike in crude oil prices.

He said property prices were rising not only in Malaysia but also elsewhere.

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