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.

LANGKAWI: The Baron Group, the operator of a network of hotels and chalets in Langkawi, is to build the 80-room "de Baron Motel" to meet the demand of the growing tourism industry on the island.

Its managing director Zailina Mohd Zain said the construction is part of a planned 300-room development to be undertaken in stages.

KUALA LUMPUR: LBS Bina Group Bhd’s massive property development in the southern Chinese city of Zhuhai could be a trump card that may substantially boost the company’s future earnings and valuations should it take off well this time round.

KUALA LUMPUR: Things are finally perking up for property developer LBS Bina Group Bhd as its much-anticipated China development may finally be getting off the ground and the company’s focus on affordable landed housing is drawing in strong sales.

SHANGHAI: Residential prices in Beijing, Shanghai, Guangzhou and Shenzhen are not expected to decline more than 20% in 2011 despite the latest string of tightening measures, said Knight Frank in its latest Greater China quarterly report.

SUNRISE

HONG KONG: Banks in Hong Kong are raising mortgage interest rates, signalling an end to cut-throat competition in the sector as the overall economy recovers, analysts said.

In the past two weeks the Hang Seng, Standard Chartered and Wing Lung banks effectively raised the margin they impose on mortgages priced against the Hong Kong interbank offered rate (Hibor).