KUALA LUMPUR: Malaysia Building Society Bhd (MBSB) net profit for the third quarter ended Sept 30, 2010 fell to RM40.51 million from RM52.68 million a year earlier, due mainly to higher impairment losses on loans advanced and lower income from Islamic banking operations.

Its revenue for the quarter however jumped to RM317.66 million from RM162.37 million in 2009.

KUALA LUMPUR:  Office-based Malaysian real estate investment trusts (M-REITs) may see some pressure given the planning of more office space coming onstream in the coming years, according to property players.

KUALA LUMPUR: Bintulu Port Holdings Bhd has received a letter of intent from the Sarawak government to submit a detailed proposal to build, own and operate a new seaport within the Samalaju enclave.

KUALA LUMPUR: Permodalan Nasional Bhd’s (PNB) RM5 billion plan to redevelop the tract of land near Stadium Merdeka, which includes building a 100-storey office block, is a move to diversify the investment group’s asset portfolio, said its group chief executive Tan Sri Hamad Kama Piah.

KUALA LUMPUR: Fajarbaru Builder Group Bhd, via its unit Fajabaru Builder Sdn Bhd (FBSB), has secured a RM36.47 million contract from the East Coast Economic Region Development Council (ECERDC) for proposed earthworks and infrastructure works for Pasir Mas Halal Park Phase 1 in Kelantan.

Work is scheduled to begin from Nov 1 and is expected to last 15 months.

KUALA LUMPUR: Zelan Bhd continued to pare down its shareholding in IJM Corp Bhd by selling off 900,000 shares in the latter on the open market for RM4.85 million cash or an average disposal price of RM5.40 apiece.

In a Bursa Malaysia filing on Thursday, Oct 21, the group said the price was arrived at on a willing buyer-willing seller basis.

SHAH ALAM: SP Setia Bhd's newly launched first integrated green commercial hub in Shah Alam, Setia City, will have a gross development value (GDV) of RM5 billion once completed within the next 10 to 15 years.

SHAH ALAM: The Ministry of Housing and Local government is considering how, water harvesting can be implemented in housing projects in Malaysia.

The Minister of Housing and Local Government Datuk Wira Chor Chee Heung said the Cabinet has agreed to this.

SHAH ALAM: There is still a long way to reach property bubble in Malaysia, says Housing and Local Government Minister Datuk Wira Chor Chee Heung.

According to the Housing Index for the last 10 years, prices of houses have moved about 37% while in countries like Singapore and Hong Kong, property prices shot passed 35% last year, he said.

LONDON: Rents in London's prime residential market have risen 16% since their recessionary low in June 2009, even though they are still 7% lower than the recent market peak in March 2008, Knight Frank LLP said.