Hektar REIT

Annualised Earnings Almost Spot On

HONG KONG: American International Group Inc (AIG) is expected to sell its Asian real estate business to Invesco Ltd later this month, a source said on Tuesday, Nov 9.

The source said AIG's gross property assets were currently worth around US$5 billion (RM15.52 billion), although the actual cost of the deal was expected to be in the tens of millions.

SHANGHAI: Evergrande Real Estate Group has exceeded its annual sales target of 40 billion yuan (RM18.56 billion) set at the beginning of the year.

Chairman Hui Ka-yan said the company's contract sales for the first 10 months amounted to 41.16 billion yuan and said the expected full-year sales figure was 50 billion yuan.

LONDON: British house prices fell last month at their sharpest pace in a year-and-a-half as a lack of mortgage finance and an uncertain economic outlook deterred potential buyers, a survey indicated on Tuesday, Nov 9.

HONG KONG: Sino Land, the city's seventh-largest developer by market value, is planning to raise as much as US$534 million (RM1.66 billion) hot on the heels of a share placement by rival Hang Lung Properties last week.

LANGKAWI: The Baron Group, the operator of a network of hotels and chalets in Langkawi, is to build the 80-room "de Baron Motel" to meet the demand of the growing tourism industry on the island.

Its managing director Zailina Mohd Zain said the construction is part of a planned 300-room development to be undertaken in stages.

KUALA LUMPUR: LBS Bina Group Bhd’s massive property development in the southern Chinese city of Zhuhai could be a trump card that may substantially boost the company’s future earnings and valuations should it take off well this time round.

KUALA LUMPUR: Things are finally perking up for property developer LBS Bina Group Bhd as its much-anticipated China development may finally be getting off the ground and the company’s focus on affordable landed housing is drawing in strong sales.

SHANGHAI: Residential prices in Beijing, Shanghai, Guangzhou and Shenzhen are not expected to decline more than 20% in 2011 despite the latest string of tightening measures, said Knight Frank in its latest Greater China quarterly report.

SUNRISE