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.

KUALA LUMPUR: Mah Sing Group Berhad has acquired two parcels of land in Ampang and Cyberjaya with a combined gross development value (GDV) of about RM1.2 billion.

PUCHONG: SP Setia Bhd, the developer of boutique lifestyle development SetiaWalk, is confident of leasing out at least 80% for the project's mall component in time for its launch in the first quarter of 2012, said its divisional general manager Wong Tuck Wai.

IJM Land
Canal City in the limelight

MELBOURNE: A country town in the state of New South Wales is offering houses to rent for just A$1 (RM3.08) a week to "keep the town alive".

There are still plenty of jobs available in the town of Trundle but no one to do them, Trundle Tree Change spokeswoman Cherie Quade told the ABC.