KUALA LUMPUR: WCT Bhd has been awarded a RM169.26 million contract by 1MDB Real Estate Sdn Bhd to undertake various works for Phase 1 of the Kuala Lumpur International Financial District or Tun Razak Exchange.

In a filing with Bursa Malaysia yesterday, the company said the contract is for earthworks, retaining walls and foundation works which will span 26 months.

KUALA LUMPUR: CapitaMalls Malaysia Trust’s (CMMT) net profit for the first quarter ended March 31, 2013 (1Q13) increased to RM35.85 million, 4.08% higher than the RM34.44 million achieved in the same period a year ago.

ASIAN high net worth individuals (HNWIs) in search of higher yields will parlay more of their vast fortunes into commercial properties this year, says Knight Frank Malaysia managing director Sarkunan Subramaniam.This is in tandem with the trend among HNWIs globally who are swapping triple-A government bonds and cash in the bank for real estate, especially prime offices in global business centre

KUALA LUMPUR (April 16, 2013): Sapphire Index Sdn Bhd, a wholly-owned subsidiary of Dijaya Corporation Bhd, has entered into a sale and purchase cum development agreement for 11 parcels of leasehold land in Selangor for a cash consideration of RM1.297 billion.

KUALA LUMPUR (April 16, 2013): Paramount Corp Bhd (PCB) announced yesterday the resignation of its Group Chief Executive Officer Chan Say Yeong, effective immediately.

In a statement issued on April 15, 2013, PCB Executive Deputy Chairman Datuk Teo Chiang Quan said Chan has been instrumental in helping the company chart a new course for the future.

PETALING JAYA (April 16, 2013): The Malaysian Property Expo (MAPEX) 2013 is expected to generate RM1 billion in sales, said its Committee Chairman, Datuk Ng Seing Liong.

"A total of 95 developers, the largest so far, have confirmed their participation and properties worth over RM20 billion will be showcased at the event" he said at a press conference on MAPEX 2013.

SYDNEY:  The Middle East and North Africa (Mena) region saw the highest increase in hotel price over the year, according to HotelsCombined’s latest Hotel Price Trends Report released recently. Mena recorded an increase in hotel price of 8% year-on-year (y-o-y), while overall global hotel prices increased 4%.

SINGAPORE: Preliminary global commercial real estate investment volumes reached US$94 billion (RM285.8 billion) in the first quarter of 2013 (1Q13), indicating continued interest from investors worldwide, according to Jones Lang LaSalle (JLL) capital markets research from 60 countries. This represented an 8% increase over 1Q12.

KUALA LUMPUR: The real estate market in Malaysia continues to be active in terms of transactions and will continue to be vibrant in the long term, said Zerin Properties CEO Previndran Singhe.“Recently, both condos and landed homes were mopped up by cash-flush investors in traditional locations in the Klang Valley, including Bangsar, Taman Tun Dr Ismail (TTDI), Mont’Kiara, Damansara Heights and

PETALING JAYA (April 12, 2013): The Malaysian Secondary Property Exhibition (MASPEX) will be expanding to five more cities namely Johor Baru, Penang, Ipoh, Kota Kinabalu and Kuching by next year, said Organising Chairman and Malaysian Institute of Estate Agents (MIEA) Vice-President Erick Y.T. Kho.