SHAH ALAM: Selangor Menteri Besar Tan Sri Abdul Khalid Ibrahim said on Tuesday, Nov 9 that the state government supported the federal government's Greater Kuala Lumpur plan because it would benefit Selangor as well.

HONG KONG: Real estate transactions in Asia grew a strong 44% to US$20.8 billion (RM64.3 billion) in the third quarter from the previous three months, with the rising trend set to continue through the rest of 2010, an industry association said.

DUBAI: A holistic and coordinated approach is needed to enhance the opportunity for Dubai's real estate market recovery, said a report.

KUALA LUMPUR: Sunrise Bhd’s share price surged to a 52-week high of RM3.26 yesterday. The counter was the second most actively traded stock on Bursa Malaysia, riding on last week’s surprise announcement of UEM Land Bhd’s proposed conditional acquisition of the company for RM1.39 billion.

KUALA LUMPUR: Tune Hotels is opening two new hotels early next year. The hotel in Bintulu, Sarawak is slated for opening on Jan 3, 2011, while the hotel in Kota Bharu, Kelantan will open on Jan 23.

Hektar REIT

Annualised Earnings Almost Spot On

HONG KONG: American International Group Inc (AIG) is expected to sell its Asian real estate business to Invesco Ltd later this month, a source said on Tuesday, Nov 9.

The source said AIG's gross property assets were currently worth around US$5 billion (RM15.52 billion), although the actual cost of the deal was expected to be in the tens of millions.

SHANGHAI: Evergrande Real Estate Group has exceeded its annual sales target of 40 billion yuan (RM18.56 billion) set at the beginning of the year.

Chairman Hui Ka-yan said the company's contract sales for the first 10 months amounted to 41.16 billion yuan and said the expected full-year sales figure was 50 billion yuan.

LONDON: British house prices fell last month at their sharpest pace in a year-and-a-half as a lack of mortgage finance and an uncertain economic outlook deterred potential buyers, a survey indicated on Tuesday, Nov 9.

HONG KONG: Sino Land, the city's seventh-largest developer by market value, is planning to raise as much as US$534 million (RM1.66 billion) hot on the heels of a share placement by rival Hang Lung Properties last week.