HO CHI MINH City: Malaysia's property developer Gamuda Land and local firm Sacomreal announced on Monday that they would jointly develop the US$215 million Celadon City complex in HCM City's Tan Phu district, Vietnam News Agency (VNA) reported.

The 82ha Celadon City will be located about 3km from the Tan Son Nhat International Airport.

KUALA LUMPUR: Naim Holdings Bhd announced on Wednesday, Oct 27 that it was awarded a RM168.8 million construction contact to design and build the Bengoh Resettlement Scheme-Infrastructure Work project in Kuching, Sarawak.

“The contact is expected to contribute positively to the earnings and net assets of Naim Group for the financial years ending 2010 to 2012,” the Group said.

KUALA LUMPUR: With four major projects in the works and several launches planned for the next 12 months, Mutiara Goodyear Development Bhd (Mutiara) is expecting a financially strong year ahead.

KUALA LUMPUR: The insurance industry is poised to play a greater role in Beijing's increasingly domestic investor-dominated real estate market on the back of a huge scope for investment, said Savills Beijing deputy managing director Matthew Brailsford.

PUTRAJAYA: India, which plans to raise its investment target in infrastructure projects to US$1 trillion (RM3.1 trillion), welcomes greater Malaysian participation given Malaysia's strength in the sector, India's Prime Minister Dr Manmohan Singh said on Wednesday, Oct 27.

KUALA LUMPUR: TRIPLC Bhd in its 1Q financials ended Aug 31, 2010, recorded a 30% drop in net profit to RM252,000 from RM360,000 a year ago.

The group in its filing with Bursa Malaysia on Wednesday, Oct 27 also reported a 93.5% drop in revenue to RM2.177 million from RM33.855 million the previous year.

HONG KONG: Moody's Investors Service says in a new special comment that last week's decision by the People's Bank of China to raise interest rates will have no immediate impact on the ratings or outlooks for its 22 rated Chinese developers.

SYDNEY: Australian property firm Stockland is selling its stake in GPT as it sees little prospect of buying assets from the rival property firm and is shifting its focus to other opportunities, the company said.

HONG KONG: A Lands Tribunal ruling has cast a shadow over attempts to save old but well-maintained walk-up buildings.

NEW YORK: Two of the world's largest commercial real estate services companies reported sharply improved earnings on Tuesday, Oct 26, fueled chiefly by a pickup in building sales and leasing, particularly in the United States.