The Summit USJ is a 12-year-old landmark mixed development on the fringes of the mature USJ township in Subang Jaya. Following its injection into AmFIRST Real Estate Investment Trust (AmFIRST) two years ago, it has slowly been shedding its quiet, rundown image.

KUALA LUMPUR: Developer Pan Majestic Development Sdn Bhd's maiden development, Surian Tropika Homes@Sungai Long launched this November 2010 has sold 80% of its 44 units of terraced houses, with five houses waiting to be snapped up.

KUALA LUMPUR: Atlan Holdings Bhd (AHB) has proposed to sell seven land parcels in Penang for RM145 million cash, resulting in a net gain on disposal of RM80 million or 33 sen per share for the financial year ending Feb 29, 2012, it announced to Bursa Malaysia on Friday, Nov 19.

KUALA LUMPUR: Zelan Bhd's net losses have widened to RM35.1 million for the second quarter (2Q) ended Sept 30, 2010, from RM13.8 million a year ago, it said in an announcement to Bursa Malaysia on Friday, Nov 19.

KUALA LUMPUR: Encorp Bhd registered a 13.5% growth in net profit to RM4.65 million for its third quarter (3Q) ended Sept 30, 2010 from RM4.1 million a year ago, the group announced to Bursa Malaysia on Friday, Nov 19.

KUALA LUMPUR: Sunway Holdings Bhd's unit Sunway Geotechnics (M) Sdn Bhd has secured contracts totalling RM14.7 million for projects in Bandar Springhill, Port Dickson at Negeri Sembilan.

HONG KONG: Hong Kong's government is expected to unveil further measures to cool its red-hot real estate market, local media reported on Friday, Nov 19, pushing property-related stocks lower.

SHANGHAI: China's state-owned grain trading house COFCO plans to float shares of its property development operations by the end of 2011, the China Business News reported on Friday, Nov 19, citing COFCO chairman Gao Ning.

KUALA LUMPUR: The city's office market is expected to remain soft at the beginning of 2011 due to a large supply of new space entering the market over the next two years, said local consultancy YY Property Solutions.

BEIJING: Overall office rents in Asia, led by strong growth of Greater China and Singapore, rose 3.2% in 3Q2010, the second consecutive quarter growth confirming the recovery of overall office demand in the region, according to a statement released by CB Richard Ellis (CBRE) recently.