WASHINGTON, DC: The commercial property market is beginning to even out and is expected to modestly improve next year on a recovery in fundamentals, said the National Association of Realtors (NAR).

LONDON: Premium apartment scheme The Heron has won an award in the Best High Rise Development category at the UK Property Awards on Saturday, Nov 27.

Its developer Heron International said the award encompassed all areas of the development such as its location, design, appearance, amenities and marketing, in a statement on Monday.

WELLINGTON: The number of new dwelling consents approved in New Zealand fell in October as housing activity was sluggish, backing views the central bank will hold rates unchanged well into next year.

KUALA LUMPUR: Fourth Malaysian prime minister Tun Dr Mahathir Mohamad has raised concerns about the current property development boom in here.

In a posting on his blog on Tuesday, Nov 30, he asked if the current property boom could last despite a growth in the population of the city and its outlying Greater Kuala Lumpur area.

KUALA LUMPUR: Moody's Investors Service has a stable outlook for the China property sector; although a moderate downward correction is expected in prices during 2011.

Mah Sing Group

9M10 meets estimates

KUALA LUMPUR: Bina Puri Holdings Bhd (BPHB) has been awarded the contract from Syarikat Prasarana Negara Bhd to construct and complete the Ampang Line extension project of the light rail transit (LRT) for a contact value of RM634 million. The construction period is to take 27 months.

KUALA LUMPUR: Ekovest Bhd — via its whole owned subsidiary Milan Prestasi Sdn Bhd — acquired 10 bungalow lots in Johor Bahru from Danga Bay Sdn Bhd for RM15.4 million, the group announced on Monday, Nov 29.

The reason for the acquisition is for the purpose of investment in a strategic location with potential for capital growth or development purposes, said the group.

KUALA LUMPUR: Damansara Realty Bhd recorded a net profit of RM2.63 million from a net loss of RM2.72 million a year ago in its thuird quarter (3Q) financial statements ended Sept 30, 2010, the group announced on Monday, Nov 29.

Revenue earned during the same period rose 194% to RM25.18 million from RM8.571 million a year ago.