GUANGZHOU: Nine months ago, three of Guangdong's largest developers joined forces and stunned the real estate market by buying a huge site in Guangzhou at a government auction for a record 25.5 billion yuan (RM11.77 billion).

That was the most ever paid for a development site in the mainland's land sale history.

KUALA LUMPUR: Kimlun Corporation Bhd has secured a contract from of SP Setia Bhd to build two blocks of 25-storey apartments in Bandar Nusajaya, Johor.

Kimlun said on Monday, Sept 27 its unit Kimlun Sdn Bhd had on Sept 24 received the letter of award from Bukit Indah (Johor) Sdn Bhd, a unit of SP Setia.

KUALA LUMPUR: Plenitude Bhd is acquiring 20 parcels of freehold land in Balik Pulau, Penang, measuring about 56.63 acres for RM40.12 million (RM17.50 psf) to be developed as a mixed development.

KUALA LUMPUR: Sunway City Bhd (SunCity) is acquiring a parcel of freehold land in Penang for RM38.765 million, intended for a residential project.

SunCity via its subsidiary, Sunway City (Penang) Sdn Bhd entered into a sale and purchase agreement with Sungei Ara Holdings Sdn Bhd on Aug 4, 2010.

KUALA LUMPUR: Keladi Maju Bhd posted net profit of RM1.67 million for its second quarter (2Q) ended July 31, 2010 on the back of revenue of RM8.1 million.

For the same quarter a year ago, the company posted net profit of RM2.34 million and revenue of RM11.13 million.

KUALA LUMPUR: Titijaya Group will launch the second phase of Subang Parkhomes — a gated and guarded community neighbourhood, in SS19, Subang Jaya — by the end of this year or early next year.

HO CHI MINH CITY: HCM City is planning to conserve its French-era villas, which are being razed one by one to make way for high-rise buildings, Vietnamese News Agency (VNA) reported Monday, Sept 27.

Most of them are in Districts 1 and 3, with a high concentration being on Tu Xuong and Le Quy Don streets.

PETALING JAYA: A director of a construction company pleaded not guilty in the Sessions Court here on Monday, Sept 27 with failing to ensure people's safety in connection with the collapse of the Jaya Supermarket at Section 14 here last year in which seven people were killed.

KUALA LUMPUR: Three more green rating tools are expected be launched by the second quarter (2Q) of 2011, said Boon Che Wee, president of the Malaysia Institute of Architects (PAM).

BEIJING: China has unveiled rules to restrict land hoarding by developers in the latest effort to rein in the red-hot real estate sector, a state newspaper reported on Monday, Sept 27.