KUALA LUMPUR: Sales volume of new homes in Shanghai, excluding units allocated towards relocated residents under urban redevelopment plans, surged by 70% to 730,000 sq m in August, a report from Shanghai Uwin Real Estate Information Services Co said.

SHANGHAI: The Shanghai Municipal Government warned on Thursday, Sept 2 that it would punish developers who violate rules on land hoarding and pre-sales.

KUALA LUMPUR: Sunway City Bhd (SunCity) will hold a soft launch for the first sub-phase of its townhouse development MontBleu Residences in Ipoh on Sept 10, said a company spokesperson.

The project will comprise a total of four sub-phases containing 220 units of three-storey townhouses, she said.

KUALA LUMPUR: Perbadanan Kemajuan Negeri Selangor (PKNS) is venturing into the real estate investment trust (REIT) industry, with the injection of three properties into AmanahRaya REIT.

PKNS had on Thursday, Sept 2, injected the three properties valued a total of RM270 million in the REIT.

PKNS will receive RM162 million cash and a stake in AmanahRaya REIT.

LONDON: China and Hong Kong investors have become a major force in the global property market. They have already emerged as the biggest group of buyers in many places, and their share of the market is expected to grow even further.

HONG KONG: The government's plan to convert some of the city's industrial areas into much-needed flats should take into account whether transport and other amenities are available, according to property analysts.

They say the Siu Lek Yuen and Tai Wai industrial districts in Sha Tin are good candidates for conversion into residential areas because of their  accessibility.

SHENZEN: Most property buyers probably wouldn't fancy Sheung Shui, close to the Hong Kong-Shenzhen border, as a prestigious location. But developers seem to think otherwise.

KUALA LUMPUR: Construction firm Sunway Holdings Bhd has accepted two letters of award from Putrajaya Holdings Sdn Bhd.

In a filing to Bursa Malaysia on Sept 1, the company said its wholly owned subsidiary Sunway Construction Sdn Bhd accepted the awards totaling RM69.88 million on Aug 30.

KUALA LUMPUR: Merge Energy Bhd has named Datuk Raja Shah Zurin bin Raja Aman Shah as its new executive chairman with immediate effect, the company said on Wednesday, Sept 1.

Raja Shah was appointed on the board on January 11, and would replace non-executive chairman Datuk Muhammad Azaham Bin Abdul Wahab, who retired from the position at the age of 70.

KUALA LUMPUR: Bina Puri Construction Sdn Bhd, a wholly owned unit of Bina Puri Holdings Bhd (BPH) has accepted the letter of award from Lintasan Mayang Development Sdn Bhd to build 33 units (three blocks) of two- to three-storey shopoffices.