(from left) Tan, Abdul Rahman, Lim and Yeo at the official opening of the Eastin Hotel Penang

GEORGE TOWN: A five-star hotel, convention centre, hospital and high-end condominiums are among the projects planned by the CP Group at its Queensbay site.

HONG KONG: Morgan Stanley has agreed to sell back its 50% stake in a residential project in Guangzhou's Foshan city to joint-venture partner Hon Kwok Land Investment for HK$200 million (RM86.19 million).

HONG KONG: Beijing's super-loose monetary policy and unprecedented stimulus measures boosted investment in the mainland's real estate industry to a record 3.6 trillion yuan (RM1.77 trillion) last year.

KUALA LUMPUR: Twelve contractors got a huge windfall this Chinese New Year when Bukit Kiara Properties Sdn Bhd (BKP) paid out over RM300,000 as a special bonus to them for meeting high quality standards in its project, VERVE Suites in Mont'Kiara, Kuala Lumpur.

KUALA LUMPUR: Permaju Industries Sdn Bhd has entered into a conditional sale and purchase agreement (SPA) with Hardie Development Sdn Bhd (HDSB) and its directors to acquire a 70% equity interest in the company, Permaju Industries announced to Bursa Malaysia on March 8.

KUALA LUMPUR: UOA Asset Management Sdn Bhd, the management company of UOA Real Estate Investment Trust (UOA REIT), has received two offer letters dated March 8 from UOA Holdings for the sale of two properties here, UOA REIT announced to Bursa Malaysia on the same date.

DUBAI: Hopes of progress this week on Dubai World’s US$26 billion (RM86.89 billion) debt restructuring lifted stocks and eased fears of default but potential divisions emerged among creditors to the state-owned conglomerate, according to Reuters.

PETALING JAYA: Space U8 will be officially opened to the public in September 2010. However, a soft launch event for invited guests is being planned in conjunction with the Soccer World Cup tournament in July.

KUALA LUMPUR: YTL Hotels & Properties Sdn Bhd (YTLHP) has entered into an acquisition agreement to acquire a new subsidiary based in Japan, said holding company YTL Corp Bhd in a March 8 Bursa Malaysia filing.

KUALA LUMPUR: Malayan Banking Bhd will increase its base lending rate (BLR) by 25 basis points from 5.55% per annum to 5.80% per annum effective Tuesday, March 9.

Maybank said on Monday, the base financing rate (BFR) of Maybank Islamic Bhd would similarly be revised from 5.55% to 5.80% effective the same date.