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.

KUALA LUMPUR: Sunway City Bhd (SunCity) has proposed to acquire a 45% stake in theme park operator Sunway Lagoon Sdn Bhd (SLSB) for RM128.57 million and raise its shareholding to 96%.

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.