Properties22

PEACE with the environment is a criteria for healthy homes and every resident should create a balanced surrounding so that his or her mind, body and soul are in harmony. “This is important because we all experience physical and mental stress every day at work and returning to a home that is not in tune with the environment can add to the stress,” said Sunday Star Vasthu Sastra columnist T. Selva, who will be presenting a talk at The Star Property Fair tomorrow at the Kuala Lumpur Convention Centre (KLCC) Hall 4, at 2pm. Full attention: Selva delivering a talk on Vasthu recently. He said Vasthu, better known as Indian feng shui, essentially helps balance the man-made environment with the natural world. Selva said Vasthu…. Click here to Read More

DNP Holdings Bhd, a property development and investment group, will launch its most expensive residential project dubbed “Le Nouvel”, worth an estimated RM1 billion, in Kuala Lumpur by end-2010 or early 2011. Le Nouvel comprises two residential towers with 43 and 49 floors respectively, offering a total of 197 condominium units ranging from 1,800 sq ft to 4,700 sq ft. The towers will be built near Avenue K on Jalan Ampang. “We have the approvals to do the project, but the current market conditions are unfavourable to a launch. A better timing would be a year from now,” said DNP company secretary and general manager for treasury and accounts, Lee Kong Beng, after the company’s shareholders meeting yesterday in Sepang. Lee told…. Click here to Read More

Mortgage rates are bouncing around, but struggling to find their way back to the 50-year lows that they reached earlier this year. Rates on 30-year fixed-rate mortgages fell to 5.17% last week down from 5.36% the week before, according to the Mortgage Bankers Association’s weekly survey of mortgage applications. That helped boost the MBA’s refinance index by 7.2% from the previous week, while the purchase index increased by 0.9%. Refinance activity accounted for 54% of mortgage applications, up slightly from 52.6% the week before. When mortgage rates fell to record lows in March, April and May, the share of adjustable-rate mortgages fell to around 3%, but as rates have edged up this summer, more borrowers have looked into…. Click here to Read More

Malaysia’S property market is expected to be resilient next year due to lower borrowing costs and as demand from foreign buyers remain strong, an industry executive said. “It will be harder to do deals next year but there won’t be a slump. People are still looking for homes to stay and invest in,” said Previndran Singhe, chief executive officer of real estate consultancy Zerin Properties. Previndran: People are still looking for homes to stay and invest in. There will be a slew of new residential property launches from the second quarter next year and these are high-end products. Key launches next year include 6 Stonor by Tan & Tan Development; The Pearl@KLCC by Malton Bhd; Platinum Park Residences by Naza TTDI; The Oval…. Click here to Read More

Property developer I-Berhad aims to achieve double-digit growth in net profit by year-end, driven by its unique information and communication technology (ICT) infrastructure, said its director, Eu Hong Chew. “These are the kind of services office users are looking for and they are market-driven,” Eu told reporters after the preview of its RM2.0 billion integrated commercial development, i-City, in Shah Alam today. For the financial year ended December 31, 2007, the company recorded a pre-tax profit of RM700,000 on the back of RM1.631 million in revenue. Eu said i-City was designed as a fully-integrated township, comprising a shopping mall, corporate towers and corporate offices, office suites, shop offices, office and retail suites,…. Click here to Read More