KUALA LUMPUR: The Master Builders Association Malaysia (MBAM) has elected Kwan Foh Kwai of Sunway Construction Sdn Bhd as its president for the 2011/12 term on Friday, July 9.

MBAM held its election of office bearers following its annual general meeting on June 27. He replaces Datuk Ng Kee Leen of Gamuda Bhd, who is now the Immediate Past President.

SHAH ALAM: I-Bhd, the developer of I-City development in Shah Alam, has appointed Datuk Lim Kim Hong as the executive chairman of the board.

According to the press statement released on Friday, July 9, Lim’s appointment is aimed at driving the group to the next level of growth at both the local and regional levels.

KUALA LUMPUR: Mah Sing Group Bhd's acquisition spree is continuing with the latest purchase of three plots of land, where it plans to develop projects worth a combined gross development value (GDV) of RM1.1 billion.

KUALA LUMPUR: The RM38 million sale of a penthouse unit in the exclusive The Binjai on The Park (pictured) development in Kuala Lumpur City Centre (KLCC) area last month reflects the buoyant sentiment towards the condo market in the area, said real estate consultants.

“There is a lot of confidence in the market again,” said Previndran Singhe, the CEO of Zerin Properties.

LONDON: ING Group may need to break up its world-leading real estate investment management unit to conclude a timely sale, as its bankers begin flushing out prospective buyers, sources close to the deal said.

KUALA LUMPUR: A yield war has ensued with both of the newest Real Estate Investment Trust (REITs) in town raising their yields to attract investors.

KUALA LUMPUR: Sunway Real Estate Investment Trust (SunREIT), Southeast Asia's largest initial public offering (IPO) this year, opened on Bursa Malaysia on Thursday, July 8 at 89 sen per unit with 4.8 million units traded.

KUALA LUMPUR: Bandar Raya Developments Bhd (BRDB) is taking over from Dubai World, an investment arm of the Dubai government, a joint-venture agreement with UEM Land Bhd to undertake the RM2.3 billion Residential North high-end mixed development in Puteri Harbour in the Iskandar Development Region, Johor.

Making its Way to Nusajaya

THE BUZZ

SHANGHAI: Overall rents of well-located retail projects in Shanghai, China are expected to edge up in 2H2010 led by the continued growth of rentals in prime retail areas, said Colliers International in its Shanghai Knowledge Report on the Retail Property Market for the first half of 2010 (1H2010).