KUALA LUMPUR: Property developer Talam Corporation Bhd plans to clean up its balance sheet by reducing gearing and repaying its debts this year, before launching new projects in the second half of next year.

CONTINUING with our article feature on real estate investment trusts (REIT) in Malaysia — we discussed the Al-Aqar KPJ REIT and AmFIRST REIT in our previous article — we have chosen three others to highlight today.

HONG KONG: Sellers of a luxury house on The Peak are confident of achieving a record price following the positive result at this week's land auction.

The Shang family, owners of the China Can Company, appointed property agency Jones Lang LaSalle to conduct a tender for the 62-year-old house at 20 Peak Road. The tender will close on Sept 15.

HONG KONG: Middle-income earners hoping that government exhortations to developers to build more smaller, affordable flats will bear fruit are in for a disappointment.

KUALA LUMPUR: From Aug 1, Employees Provident Fund (EPF) contributors who have not made withdrawals for buying houses or to reduc
their housing loans, will have the chance to purchase costlier houses under the Fund's Flexible Housing Withdrawal scheme.

HONG KONG: A site on The Peak fetched the third-highest land price in the city's history on Wednesday, July 28 underscoring the continued strength of the luxury residential market.

Nan Fung Development and The Wharf (Holdings) paid HK$10.4 billion (RM4.27 billion) in an auction for the site at 103 Mount Nicholson Road — HK$32,014 per square foot.

KUALA LUMPUR: The Malaysian property market is not in any danger of facing a bubble as prices have been stable, industry players said at a panel discussion at the 13th National Housing and Property Summit on Thursday, July 29.

KUALA LUMPUR: Gadang Holdings Bhd posted a net profit of RM3.38 million for the fourth quarter ended May 31, 2010 (4Q), surging from RM954,000 a year ago.

Meanwhile, revenue dipped 4% to RM78.3 million from RM81.87 million.

KUALA LUMPUR: Melati Ehsan Holdings Bhd posted a net profit of RM1.13 million for the third quarter ended May 31, 2010 (3Q), down 63% from RM3.06 million a year ago on the back of lower construction activities.

Revenue declined by 35% to RM30.9 million from RM47.38 million, the company said on Thursday, July 29.