Ivory Earmarks RM70m To Revive Fettes Villa Project

Penang based Ivory Properties Group – which is eyeing a listing on Bursa Malaysia’s main board by the end of this year-is targeting to revive the abandoned “Fettes Villa” project on the island in three years. The project, which started in 1995 and scheduled for completion in 1997, was stalled in 1996 and affected 582 buyers. It comprises about 900 condominium units, low medium cost (LMC) apartments and 20 shoplots. Read More

(2-02-2008 New Straits Times)

Naluri Purchase To Position Atlan As Developer

ATLAN Holding Bhd’s acquisition of Naluri Corp Bhd will help position the group as a property developer and a duty free shop operator. Naluri will be delisted and privatized after the acquisition. The completion of the take over will place some RM700 million worth of properties, which include vacant land, commercial properties and apartments, under Atlan. In Penang, Nalurim via unit Blossom Time Sdn Bhd, is currently involved in a RM400mil landed and high rise property development on a 65-acre site in Batu Ferringhi.

(2-02-2008 The Star)

Mutiara Goodyear Takes Over Jurus Positif

Mutiara Goodyear Development Bhd has inked a RM27.6 million deal to purchase 50 per cent of property company Jurus Positif Sdn Bhd. With the deal, the company will take over the RM160 million Taman Mutiara Gombak housing development in Selangor. Mutiara Goodyear will also control a 4.6 acre commercial development site in Bandar Sunway, Petaling Jaya.

(2-02-2008 New Straits Times)