SYDNEY: Australian property trusts face a positive outlook as property prices stabilise and gearing falls after companies delivered mostly strong earnings in the latest financial year.

An economy which grew at its fastest pace in three years in the last quarter could boost local REITs.

KUALA LUMPUR: China has mapped out a plan to revamp its statistical system for housing prices following an incident earlier this year that cast doubts on the reliability of its housing price data.

KUALA LUMPUR: New guidelines for gated and guarded communities will now be applied on all new applications for such schemes, said Deputy Prime Minister Tan Sri Muhyiddin Yassin.

According to various press reports, he said the new guidelines which were approved by the National Council for Local Government will cover the definition and standards of a gated community.

KUALA LUMPUR: MRCB led property stocks higher in late morning trade on Friday, Sept 3, especially companies with development projects in Iskandar Malaysia.

At 11.10am, MRCB rose eight sen to RM1.84 with 16.46 million shares done. Tebrau Teguh added 2.5 sen to 72.5 sen while UEM Land gained three sen to RM1.87.

E&O advanced four sen to RM1.14.

HONG KONG: China developer KWG Property Holding has already achieved 82% of its 10 billion yuan (RM4.59 billion) annual sales target despite the central government's measures to cool the market.

Chief financial officer and executive director Kenneth Leung said the company had contract sales of 8.2 billion yuan by the end of last month.

KUALA LUMPUR: The first phase of 6 CapSquare, the second residential tower under the CapSquare mixed development by Bandar Raya Developments Bhd (BDRB), has achieved a 65% take-up rate following private viewings for previous BDRB customers.

KUALA LUMPUR: Kumpulan Wang Bersama (KWB), a fund under the trusteeship of Amanah Raya Bhd, has proposed to dispose of 69.6 million units in Amanahraya Real Estate Investment Trust (ARREIT) to Perbadanan Kemajuan Negeri Selangor (PKNS) for a total consideration of RM66.12 million or 95 sen per unit, ARREIT announced on Bursa Malaysia on Thursday, Sept 2.

KUALA LUMPUR: Amanahraya Real Estate Investment Trust (ARREIT) has proposed to acquire Kompleks PKNS, Menara PKNS and SACC Mall in Petaling, Selangor, for a total of RM270 million, it announced on Bursa Malaysia on Thursday, Sept 2.

KUALA LUMPUR: FBSM Holdings Bhd has accepted an offer from Mayban Trustees Bhd (MTB), the trustees of AmFirst Real Estate Investment Trust (AmFIRST REIT), to sell FBSM Plaza to Mayban for RM51.5 million cash.

KUALA LUMPUR: AmFIRST Real Estate Investment Trust (AmFIRST REIT) has proposed to acquire a retail unit measuring about 37,372 sq ft in The Summit Subang USJ Retail Podium for RM6.8 million cash, the fund announced on Bursa Malaysia on Thursday, Sept 2.