Glomac Bhd’s landmark Glomac Tower continues to hold the enviable distinction of fetching the highest-priced ever for office space sold enbloc in Kuala Lumpur.

The 40-storey office tower next to the KLCC Petronas twin towers, located at the corner of Jalan P Ramlee and Jalan Pinang, was sold at the end of 2007 for RM577 million, or the equivalent of RM1,160 per sq feet.

KUALA LUMPUR: Guocoland (Malaysia) Bhd saw its net profit for the first quarter ended Sept 30, 2010 (1QFY11) dropped to RM230,000, from RM6.7 million a year earlier, on lower revenue.

KUALA LUMPUR: LBI Capital is acquiring a piece of leasehold commercial land in Tempat Genting Highlands for RM5.5 million.

? Projects strategically located. Mah Sing has three projects which are strategically positioned to benefit from the Government’s MRT network development. These are Star Avenue (Sg Buloh station), Icon Mont’ Kiara (Matrade station) and M Suites (Great Eastern mall station).

WASHINGTON/NEW YORK: All 50 US states launched a joint investigation of the mortgage industry on Wednesday, Oct 13, a move some experts fear may slow sales of foreclosed homes and threaten the recovery of the fragile housing market.

HONG KONG: Investors and owner-occupiers rode the continuing rally in home prices last week, ignoring talk of further cooling measures in Wednesday's policy address by Chief Executive Donald Tsang Yam-kuen.

HONG KONG: Removing property purchases as a qualification for becoming an investment migrant would damage Hong Kong's free-market image while having little effect on soaring property prices, officials say.

However, they may consider raising the threshold for such purchases.

BEIJING: Within days of Beijing announcing new measures to hose down the overheated property market, thousands of people have been flocking to housing shows in cities big and small across China.

HONG KONG: Bidders at a land auction on Tuesday, Oct 12 paid a record price for a Kowloon Tong site — brushing aside concerns that Chief Executive Donald Tsang Yam-Kuen may unveil further measures to cool the property sector in his policy address on Wednesday.

SHANGHAI: Home prices in Shanghai are expected to fall slowly rather than sharply following the government's fresh austerity measures, according to real estate firm Jones Lang LaSalle.

The city's housing prices will come down less than 5% this year because major developers are not under pressure to reduce prices.