Taikoo Shing flat prices pass 1997 record
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.
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Economy faces testing times, official says
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.
Sime Darby to launch two USJ Heights projects
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.
Gadang Holdings achieves 80% increase in net profit for 1Q
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.
MK Land clinches RM4b project in Bangalore
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.
ARREIT 3Q net profit up 35.7%
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.
Verve Suites Vibe Tower sets new Malaysian Conquas score record
KUALA LUMPUR: Bukit Kiara Properties Sdn Bhd's (BKP) Vibe Tower, the second phase of Verve Suites, has scored 82.2 on the Construction Quality Assessment System (Conquas) rating, setting a record for Malaysian high-rise projects.
Bank Negara ready to act on property if need be
KUALA LUMPUR: Malaysia's central bank will clamp down on any speculation that threatens to create a property bubble, the central bank chief said on Thursday, Oct 28.
Governor Zeti Akhtar Aziz said the central bank wanted to promote house ownership but it had "wide ranging instruments" to deal with any excesses in the sector.
Y&G proposes 4-into-1 share capital reduction
KUALA LUMPUR: Property-based Y&G Corp Bhd has proposed a four-into-one share capital reduction and to acquire three companies for RM164.14 million via issuance of new shares.
Sunrise introducing serviced apartments to their business structure
KUALA LUMPUR: Sunrise Bhd will introduce serviced apartments to its portfolio once it has set up a hospitality unit next year, said its executive chairman Datuk Tong Kooi Ong (pictured).
