KUALA LUMPUR (April 24): Merlin Entertainments Groups has signed a management agreement with LL Themed Hotel Sdn Bhd to develop and build the LEGOLAND Hotel in Nusajaya, Johor — the first in Southeast Asia and the fourth in the world.

LL Themed is a 51-49 joint venture company between Destination Resorts and Hotels Sdn Bhd (DRH) with Iskandar Harta Holdings Sdn Bhd.

SHAH ALAM (April 23): Klang Valley residents will soon be able to dine at a waterfront facing Sungai Rasau here to be developed by I-Bhd.

I-Bhd chief executive officer Datuk Eu Hong CHew told reporters here today that the project, Clarke Quay@i-City, is the latest component of i-City's integrated leisure destination plan.

KOTA KINABALU (April 23): The Housing and Local Government Ministry via the Local Government Department has allocated RM48.9 million to implement 330 projects for all the local authorities (PBT) in Sabah this year to ensure that the PBTs maintained their best service.

KUALA LUMPUR (April 23): As many as 12 top architectural firms in the country have been shortlisted into the second stage of the Kuala Lumpur International Financial District (KLIFD) Signature Tower Design Competition.

HONG KONG (April 23): Many Hong Kong homebuyers are blinded to overpriced flats in new developments by the lure of grand clubhouse facilities, landscaped gardens, and luxury appliances, agents warn.

The consequences of paying a high premium for flats in such overpriced projects could be particularly dire in remote districts or single-block developments, they say.

BEIJING (April 23): China is set to speed up spending on roads, railways and utilities to boost economic growth, the official China Securities Journal said on Monday, citing government economists.

KUALA LUMPUR (April 23): Axis Real Estate Investment Trust (Axis REIT) will allocate RM32 million to enhance its assets including Wisma Bintang and Axis Eureka, HwangDBS Vickers Research said on Monday.

It said Axis REIT would convert Wisma Bintang, currently leased to Cycle & Carriage (C&C), into its "Axis Business Campus".

Growing its presence in China

When the concept of the 72-acre freehold i-City in Shah Alam was first mooted in the early 1990s by Tan Sri Lim Kim Hong, executive chairman of I-Bhd, many said it was a good one. But behind the agreeable smiles was a degree of scepticism.

The lure of a prestigious UK degree sees hundreds of thousands of foreign students making a beeline for the British Isles each year. Not surprisingly, demand for student accommodation remains strong, translating into good returns for those investing in properties targeting this group.