News by Izzat Zulhilmi Ratnasari

Germany recorded the strongest occupier activity in Europe’s industrial property market with 6 million sq m of space leased out last year, underpinning a record year in Europe’s industrial property market, said international property consultancy Cushman & Wakefield.

Real estate private equity and advisory firm Area Management Sdn Bhd is building Area Logistics here, the country’s first inner-city mega distribution hub with 1.5 million sq ft of warehouse space, said chairman Datuk Stewart LaBrooy.

Dubai Properties (DP) announced yesterday the start of construction works of its flagship 1/JBR project, an iconic 46-storey luxury residential tower at the entrance of Jumeirah Beach Resort (JBR) in Dubai.

BRDB Developments Sdn Bhd plans to launch RM2 billion worth of projects this year – namely in TamanSari in Rawang, Selangor, the Defense Raya Golf and Country Club (DRGCC) in Lahore, Pakistan, and Gateway Wollongong in New South Wales, Australia.

Eupe Corp Bhd’s Novum South Bangsar project saw 70% of its 729 units booked since the project was launched on March 12, said sales and marketing manager Eric Choong.

I-Bhd unveiled its high-end 8 Kia Peng residences – its first project outside its flagship 72-acre i-City “ultrapolis” development in Shah Alam – in the city centre, which has a gross development value (GDV) of RM1 billion.

Iconsiam Superlux Residence Corp Ltd (Iconsiam Superlux) unveiled the first Mandarin Oriental branded residence in Bangkok – a 52-storey tower that sits on 1.9 acres of freehold land and is part of the 20-acre RM5.89 billion Iconsiam integrated development.

Best Western Plus Kuching – international hotel operator Best Western Hotels & Resorts’ first foray into Sarawak’s capital – is expected to open in 2018, it said in a press release today.

About 33% of London’s West End homes were sold for above £2,250 psf in the final quarter last year (4Q2015), compared with 10% of the market a year ago, said international property services firm CB Richard Ellis (CBRE) senior director Jamie Gunning in the firm’s report on the area’s residential market.