SEOUL: South Korea's National Pension Service (NPS) said on Thursday, Sept 30, that it was in talks with Pramerica Real Estate Investors to invest as much as US$1 billion (RM 3.08 billion) in an Asian property fund, the latest effort by the world's fourth-largest pension fund to boost investments in overseas real estate assets.

KUALA LUMPUR: Talam Corporation Bhd recorded revenue of RM51.36 million, up 22% from a year ago for its second quarter (2Q) ended July 31, 2010.

Net profit for 2Q 2010 stood at RM410,000, compared with RM200,000 posted a year ago.

KUALA LUMPUR: Fees for the management of strata title residential units are expected to hit RM1.2 billion a year should contentious amendments to a real estate act be passed by Parliament.

TOKYO: Investment management firm Aetos Capital plans to raise US$1 billion (RM3.08 billion) for a fourth real estate fund to buy office buildings and condominiums in Japan and China, a person with direct knowledge of the matter said.

HONG KONG: A surge in demand for luxury homes and apartments in Hong Kong has lured US-based estate agency franchise Sotheby's International Realty to enter the market.

SYDNEY: China could struggle to keep a lid on its property market as urbanisation piles pressure on the major coastal cities, making land scarcer and driving up prices, an executive of international real estate consultancy DTZ said.

BEIJING: China will exempt a segment of the low-income housing sector from tax in a drive to boost supply, according to a government statement.

Builders and owners of "public rent homes" will be exempt from land use tax, stamp tax, deed tax and value-added tax for the next three years, the state tax office and finance ministry said late on Tuesday, Sept 27.

Gamuda

Key MRT Play

Gamuda

FY10 within expectations but below our forecast

KUALA LUMPUR: Gamuda Bhd posted revenue and net profit of RM2.455 billion and RM289.49 million respectively for its 2010 financial year (FY2010) ended July 31, 2010.

Comparatively, the company posted revenue and net profit of RM2.727 billion and RM193.69 million respectively a year ago.