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Property sector
Maintain overweight: Desa Park City's latest offering — The Mansions, comprising 127 units of terrace houses — was launched over the weekend with about 85% of the units sold at average pricing of RM620psf to RM650psf. The Mansions came in three variants — 2½-storey, 3-storey and 3½-storey units.

SEREMBAN: The Negeri Sembilan branch of Real Estate and Housing Developers' Association (Rehda) will hold Malaysia Property Expo (Mapex) from May 20-22, 2011 at the Seremban Parade complex here.

KUALA LUMPUR: The High Court of Malaysia has dismissed the summons-in-chambers instituted by Metroplex Holdings Sdn Bhd dated Apr 29, applying for injunctive relieve against OSK Trustees Bhd as trustee for Sunway Real Estate Investment Trust (Sunway REIT) to prevent them as exercising their rights as rightful owners of Putra Place in Kuala Lumpur.

BANGKOK: The Bangkok hotel market recorded strong numbers for the peak first quarter (1Q) 2011 period, indicating that the troubles of last year have been largely left behind, according to the latest Bangkok Hotel Market Report from Colliers International Thailand.

KUALA LUMPUR: Ireka Corporation Bhd's wholly-owned unit Ireka Engineering & Construction Sdn Bhd has been awarded a RM109.75 million to build a hotel at KL Sentral.

In a statement last Friday, May 13, Ireka said its unit had received a letter of award from Excellent Bonanza Sdn Bhd for the contract to build the hotel at Lot G of KL Sentral.

KUALA LUMPUR: Global gym operator Fitness First is set to open a new outlet in Setia City Mall, along side other tenants such as Parkson, Golden Screen Cinemas, Urbanfresh, Harvey Norman, Courts and Wangsa Bowl.

Housing prices in Malaysia, especially in the Klang Valley, have been surging in the past year or so, giving rise to concerns that there could be a property bubble.

Escalating prices in the Klang Valley property market have led to complaints that houses in both the primary and secondary markets are beyond the reach of most people.

The Bukit Bintang area in Kuala Lumpur will be the next hot spot with several factors working in its favour, says cartographer Ho Chin Soon at The Edge Investment Forum on Real Estate 2011.