Largest ‘Pure Play’ Shopping Mall REIT

Highlights:

KUALA LUMPUR: UDA Holdings Bhd announced on Thursday, July 15, that it is acquiring 6.67 acres of land in Kampung Peramu, Pekan in Pahang from the Pekan District Council for RM35.5 million to build a four-star hotel named AnCasa Resort Pekan.

BOSTON: The rise in vacancy rates in the US office, industrial and retail markets continued to slow down in 2Q2010, with each sector recording a slight increase of 10 basis points (bps), according to the latest analysis from CBRE Econometric Advisors.

CBRE said that the recent drop in vacancy implied that national demand is now expanding at a rate approaching 300,000 units per year.

KUALA LUMPUR: Bina Puri Holdings Bhd had on July 12 accepted the letter of award from Zaidun-Leeng Sdn Bhd for the first phase development of a project in Bandar Sri Damansara comprising earthworks, retaining walls and ancillary works for Sri Damansara Bhd.

Bina Puri was given six months for the works to be completed.

KUALA LUMPUR: Office rental rates continued to drop marginally in 2Q2010, caused by a significant incoming supply of 2.06 million sq ft by the year's end, according to DTZ Research Report 2Q2010 published on July 13.

GUANGZHOU: Sales prices of offices in Guangzhou, China are expected to increase in 2H2010 despite a new supply of office space coming on-stream in 3Q 2010, according to Colliers International’s latest report on Guangzhou’s office market.

HONG KONG: Police raided the offices of Henderson Land and a related law firm on Wednesday, July 14 in a sharp escalation of the government's investigation into flat sales at the developer's 39 Conduit Road tower.

KOTA BAHARU: The bombings and killings in southern Thailand have not stopped tourists, particularly Malaysians, from visiting the festive region.

The Thai Consul to Malaysia, Surapon Petch-Vra said this could be seen from the occupancy rate in hotels which remained at a high 70%.

SHANGHAI: Much of the new lending currently taking place in China is due more to banks' willingness to expand credit in the market as a result of strong economic fundamentals, rather than a loosening of loan policies for homebuyers, said Lina Wong, Colliers International's managing director for East and Southeast China.