Malaysian real estate developers reveal plans

Two more real estate developers have announced plans to take advantage of the improving conditions in the Malaysian property market.

Selangor Dredging has confirmed it will launch a project consisting of houses and apartments in Taman Melawati and a condominium development in Petaling Jaya before the end of March 2010.

Teh Lip Kim, Selangor Dredging's managing director, told Bernama there had already been strong interest in the properties in Petaling Jaya.

She added: "We will conduct our projects prudently and be sensitive to the prevailing market scenario. At present, we are already seeing some improvement in the demand for properties."

Meanwhile, Eastern & Oriental has revealed it intends to launch real estate projects worth MYR 4 billion (GBP 678 million) in Kuala Lumpur and Penang over the next three years.

It explained that demand for property in Malaysia is strong despite the economic downturn and that sales had been good at its existing developments.

News of the projects comes just weeks after Mah Sing Group announced plans to build a residential development on a 46-acre site close to Kuala Lumpur in order to take advantage of the full-scale recovery in the Malaysian property market it expects to see in 2010.