KUALA LUMPUR: GuocoLand (Malaysia) Bhd acquired 4.55 million units in Tower REIT for RM5.102 million, the Group announced on Bursa Malaysia on Friday, Aug 6.

The acquisition represents 1.62% of the total issued units in the REIT.

“The acquisition will enable the Group to enhance its investment in Tower REIT,” the Group said.

KUALA LUMPUR: Harn Len Corporation Bhd paid RM2 million for five shophouses in Johor from Nusantara Bakti, a related party, the Group announced on Bursa Malaysia on Friday, Aug 6.

The five units are located along Jalan Ngee Heng within the Central Business District of Johor Bahru City Centre.

KUALA LUMPUR: The recent opening of the newly completed Jalan Bangsar/Jalan Travers flyover near Brickfields, Kuala Lumpur has improved traffic flow along Jalan Travers, said Federal Territories and Urban Wellbeing Minister Datuk Raja Nong Chik Raja Zainal Abidin.

KUALA LUMPUR: Prinsiptek Corporation Bhd acquired PST Concrete Sdn Bhd (PSTC) for RM400 on August 5, the Group announced in its filing with Bursa Malaysia on Friday, 6 Aug.

BEIJING: China may need to replace more than half of its housing stock in the next 20 years, a researcher at the housing ministry said in remarks published on Friday, Aug 6.

KUALA LUMPUR: The Shanghai housing index fell for the second consecutive month, dropping 14 points or 0.53% to 2,551 points in July as 90% of areas covered registered a drop in housing prices, reported the Shanghai Daily.

KUALA LUMPUR: Bolton aims to acquire a landbank with a potential gross development value (GDV) of RM500 million during FY2010/11, said the Group's

HONG KONG: Henderson Land Development said on Wednesday, Aug 5 that a house at its new luxury residential project in Chung Hom Kok sold for HK$50,640 (RM20,589.84) per square foot, setting yet another record in the wake of its controversial Conduit Road transaction.

HONG KONG: Hong Kong's economy has stagnated since the bursting of the property bubble in 1997. Nominal gross domestic product (GDP, that is, not adjusted for inflation) per capita has risen about 10% in a dozen years.