HONG KONG: New rules on floor area resulted in a lacklustre land auction yesterday as a luxury residential site in Kowloon Tong sold for HK$2.17 billion (RM861.14 billion) — at the bottom of the forecast range.

LONDON: St George, one of London's leading developers, will launch its latest development Dickens Yard in the country this weekend.

KUALA LUMPUR: AmFIRST Real Estate Investment Trust (AmFIRST) recorded net property income of RM31.42 million for its six-month financial period ended Sept 30, up 2.1% from a year ago.

Its gross revenue dropped 2.1% to RM47.20 million while its income after taxation declined 1.6% to RM20.59 million, and property expenses were lower by 9.6%.

KUALA LUMPUR: Sunrise Bhd posted a pre-tax profit of RM52.2 million for its first quarter (1Q) ended Sept 30, 2010, up 4% from RM50.2 million posted a year ago.

Its revenue declined 10% to RM171.3 million from RM190.3 million a year ago.

TAIPEI: Taiwan's Farglory Group will develop an estimated $1 billion (RM3.08 billion) hotel and residential project in Abu Dhabi's new financial district in partnership with the emirate's state fund, a source close to the situation said on Wednesday.

KUALA LUMPUR: Bank Negara Malaysia is imposing with immediate effect the maximum loan-to-value (LTV) ratio of 70% for the third house financing facility taken by a borrower as it seeks to curb "excessive investment and speculative activity in the residential property market".

KUALA LUMPUR: The Association of Banks in Malaysia (ABM) said Bank Negara Malaysia’s (BNM) move to impose a maximum loan-to-value (LTV) ratio of 70% for the third housing financing facility taken by a borrower as “timely and pre-emptive” in nature.

KUALA LUMPUR: Hektar Real Estate Investment Trust (Hektar REIT) posted net profit of RM9.73 million for its third quarter (3Q) ended Sept 30, 2010, marginally higher than its RM9.59 million profit posted a year ago.

The increase was attributed to the application of accounting standard FRS 117, which came into in effect January 1, 2010, said the trust on Wednesday, Nov 3.

HANOI: The Vietnam Architecture Association has launched a design competition challenging domestic and overseas Vietnamese architects to come up with an innovative idea for building houses in flood-prone areas, Vietnam News Agency reported.

In particular, the central and the Mekong Delta regions will be targeted.

KUALA LUMPUR: The property market in Dubai showed a drop rental and sale prices for apartments, villas and offices for the third quarter (3Q) from the previous quarter (2Q), a report said.