BEIJING: China's latest interest rate rise earlier this month was not aimed at taming property prices, a senior central bank researcher said on Friday, Oct 29.

The central bank does not target asset prices when setting monetary policy, said Zhang Jianhua, the head of the research bureau at the People's Bank of China.

KUALA LUMPUR: Property is one of the main focuses of the recently-launched Economic Transformation Programme (ETP) roadmap, as the development of industrial, commercial, residential and even tourism centres are expected to help kickstart the transformation of Malaysia into a high-income economy.

KUALA LUMPUR: iProperty.com has been accorded the Multimedia Super Corridor (MSC) status by the Multimedia Development Corporation.

The property website was awarded the status as it met strict qualifying standards by demonstrating the organisation's capabilities, vision, financial strength and efforts in producing innovative products.

HONG KONG: The average price of a flat in Taikoo Shing last month surpassed the previous peak set in 1997, making it the first housing estate in the city to set new record prices.

BEIJING: China's economic development faces complex internal and international challenges, as increasing costs and a rising currency make it increasingly difficult to maintain stable industrial growth, according to an industry ministry official.

KUALA LUMPUR: Sime Darby Property Bhd plans to launch two projects in USJ Heights next month, its managing director Tunku Putra Badlishah said in a media release on Thursday, Oct 28.

KUALA LUMPUR: Gadang Holdings Bhd's net profit for the first quarter (1Q) ended Aug 31, 2010 increased 80% ito RM6.405 million from RM3.55 million a year ago.

The Group said on Thursday, Oct 28 that its revenue for the quarter increased 41% to RM82.63 million from RM58.41 million the previous year.

KUALA LUMPUR: MK Land Holdings Bhd yesterday sealed an agreement with Embassy Group of India to develop a RM4 billion “affordable homes” project in North Bangalore, India.

KUALA LUMPUR: AmanahRaya Real Estate Investment Trust (ARREIT) posted a 35.7% increase in net profit to RM10.79 million from RM7.95 million a year ago, it revealed in its third quarter (3Q) financial statements for the period ended Sept 30, 2010.

The REIT said on Thursday, Oct 28 that its revenue increased 38.4% to RM16.284 million from RM11.765 million the previous year.