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SunREIT's net profit at RM44mil

KUALA LUMPUR: Sunway Real Estate Investment Trust (SunREIT) posted a net profit of RM43.7mil for the third quarter ended March 31.

SunREIT said its pre-tax income was RM43.7mil comprising realised net income of RM43.2mil and unrealised income of RM500,000 arising mainly from fair value adjustment on financial derivatives.

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Hatten City to be Malacca's tallest development

Malacca is set to see another skyscraper added to its history, after a RM500 million multi-storey mixed development project by the Hatten Group is completed by 2014.

The project, called Hatten City, will include residences, office blocks, shops and a resort. It will complement Hatten Square and Dataran Pahlawan shopping complex as a must-see attraction, with its futuristic design and a full view of the Straits of Malacca.

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Johor Baru's residential property prices trending upwards

Prices of residential properties in Johor Baru have surged 40 percent since 2006, with Danga Sdn Bhd’s Casa Almyra project having seen a price increase to RM800,000 from RM450,000 in 2006.

Samuel Tan, Executive Director at KGV-Lambert Smith Hampton (Johor) Sdn Bhd, said the value of transactions have leapfrogged in the Iskandar region and property buyers and owners can expect prices to rise by between 10 and 20 percent by Q4 this year.

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Menara Binjai development to alter KL skyline

The Chua family, inspired by the visions of a matriarch, is constructing a new landmark called Menara Binjai in Kuala Lumpur, on the former site of the family mansion.

The late Madam Khor Joo Saik, Dr. Chua Seong Siew’s mother, once foretold that the land where the family home on Jalan Binjai was situated would one day be as busy as Singapore’s Orchard Road.

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Sentosa Heights 70% sold pre-launch

Around 70 percent of the units at Sentosa Heights have been taken up even before its launch, partly due to its strategic location, which is close to shopping malls, hospitals, schools and highways.

Serba Sentosa Sdn Bhd, a wholly-owned subsidiary of Metro Kajang Holdings Bhd (MKH), noted that the housing project is within a 10 km radius of the prime Kajang Central Business District (CBD) area.

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