PBD said they would commence preselling in Sep-Nov 2011, once subdivision approval has been granted.
I accidentally saw a sneek peek of the new point grey website when it was under development (somone made it public by mistake, i promptly informed PBD) a few months back and the site was availaible in a chinese translation and seemed to be heaily aimed to the chinese market. FKP are malaysian and so it makes sense. also from this week chinese banks in hong kong can settle transactions in yuan and therefore chinese will be able to invest more easily overseas.
Developers always pay more for land. The recent sale of about 1400 hectares (the same size as Point Grey)10km south west of mandurah to Golden Group for circa $100m puts a floor on the valuation of point grey, that is about 17 cents per share. it was also land locked and had no planning work done on it as far as i can tell.
PBD Price at posting:
4.2¢ Sentiment: Buy Disclosure: Held
