Heading for a fall
HONG KONG: Hong Kong's economy has stagnated since the bursting of the property bubble in 1997. Nominal gross domestic product (GDP, that is, not adjusted for inflation) per capita has risen about 10% in a dozen years.
Latest
Ivory Prop acquires Batu Ferringhi land for RM25m
KUALA LUMPUR: Ivory Properties Group Berhad via its wholly owned subsidiary, Ivory Meadows Sdn Bhd is acquiring a 1.103-acre tract of land along Batu Ferringhi, Penang for RM25 million, it said on Thursday, Aug 5.
The group entered into a Sales and Purchase Agreement (SAP) with the two owners of the freehold land on Aug 5.
Housing oversupply, falling rents and tight credits result in drop in Dubai housing index
KUALA LUMPUR: A housing supply glut, falling rents and stricter financing approvals by banks have contributed to a decline in the Dubai housing price index during the year's second quarter (2Q).
The index, prepared by global real estate consultancy Colliers International, recorded a drop of five basis points to 114 points from the previous quarter, representing a 4% decrease.
Faber 2Q profits up 68.2%
KUALA LUMPUR: Faber Group Berhad's profit before tax (PBT) for the second quarter (2Q2010) jumped 68.2% to RM44.4 million from RM26.4 million for the corresponding quarter last year, while its quarter-on-quarter PBT was up 85.6% from RM23.9 million posted in 1Q.
Capital Shopping mall values up, seeks bigger tenants
LONDON: Capital Shopping Centres (CSC), Britain's largest mall-owner, said it was looking to increase its income from new longer-term tenants on higher rents as the UK retail sector bounced back from recession.
Sino-Ocean Land acquires land in Baoshan, Shanghai
KUALA LUMPUR: Major property player Sino-Ocean Land Holdings Ltd, via two subsidiaries, has acquired two tracts of land in north Shanghai's Baoshan District for 1.9 billion yuan (RM884 million), according to reports by the Shanghai Daily and the Shanghai Morning Post.
The parcels, located in the central areas of Luodian New Town, were gazetted for homes.
fahrenheit88 tenancy rate at 92%
KUALA LUMPUR: fahrenheit88, the building formerly known as KL Plaza, has achieved 92% tenancy as of today, said Kuala Lumpur Pavilion Sdn Bhd retail chief executive officer (CEO) Joyce Yap on Thursday, Aug 5.
China acts on property speculation, tests banks anew
BEIJING: China's banking regulator has ordered lenders to test the impact of a fall in house prices of up to 50% in key cities where prices have risen sharply, banking and regulatory sources said on Thursday, Aug 5.
RFP for Bayan Mutiara project a good move, says Rehda Penang
GEORGE TOWN: Plans by the state government to tender out the development of Bayan Mutiara in a bid to raise much-needed funds for its social programmes have been hailed as a step in the right direction for Penang to achieve its vision of becoming an international city.
Buy higher-end houses with new EPF account
EFFECTIVE Aug 1, 2010, members of the Employees Provident Fund (EPF) who have not withdrawn their monies to purchase a house or reduce a housing loan will be able to purchase a house of high value under the "Flexible Housing Withdrawal" scheme.
Contributions to the EPF are regarded as income of the employees to enable them to get approval for a larger loan.
