HONG KONG: The head of state-owned conglomerate China Everbright Holdings has warned of the dangers of rising property prices on the mainland and said that because of market volatility the group would be cautious about investing in the sector this year.

HONG KONG: Sun Hung Kai Properties won the bidding for a government-auctioned residential site in Hong Kong for HK$3.37 billion (RM1.47 billion), well ahead of consensus, in a sign the city's housing market is showing no signs of slowing down.

KUALA LUMPUR: UEM Land Holdings Bhd recorded a 12.7% q-o-q increase in revenue for 4Q2009 to RM205.1 million, compared with RM181.98 million for 4Q2008. Its revenue for FYE2009, however, posted a decrease by 21% to RM403.1 million.

KUALA LUMPUR: Putrajaya Perdana Bhd saw an increase in pre-tax profit and revenue of RM30 million and RM1 million respectively, for FYE Dec 31, 2009, compared with the previous corresponding year. Its revenue rose to RM865.997 million while pre-tax profits increased to RM69.552 million.

KUALA LUMPUR: Bandar Raya Developments Bhd (BRDB) saw an increase of 58% for its y-o-y profit before tax to RM155.8 million for FY2009, primarily due to increased profits in its property division.

PETALING JAYA: Sunway City Bhd (SunCity) has teamed up with Malayan Banking Bhd (Maybank) to offer homebuyers a special home financing package for selected residential property developments.

In a statement on Feb 22, SunCity said it is offering the Double Celebration Bonanza package where buyers could enjoy the “pay half, pay less, pay later” scheme with a 95% loan.

KUALA LUMPUR: Malton Bhd recorded a 208.8% jump for its pre-tax profit for its 2QFY2010 (FYE June 30, 2010) to RM10.5 million compared with RM3.4 million in the previous corresponding quarter. The group’s revenue, however, decreased by 13% to RM116.3 million for the same quarter compared with RM133.6 million in the previous corresponding quarter.

HONG KONG: About 40 flats bought by speculators at the new Yoho Midtown residential development in Yuen Long released at the weekend have been immediately advertised for sale on the secondary market at asking prices of up to 20% more than the prices buyers had originally paid.

PETALING JAYA: Economies are rebounding and so will commercial real estate, but not in the same gusto, according to CB Richard Ellis Inc (CBRE).

In its Global Market View February 2010 research note, CBRE said overall, the global commercial real estate market is becoming better – slowly, it said.

KUALA LUMPUR: Mah Sing Bhd has made its second land acquisition this year – a 6.32-acre commercial tract next to its 115.25-acre Garden Residence (pictured) in Cyberjaya for RM21.7 million, or RM79 psf. This means Garden Residence’s land size will be increased to 122-acres while the project’s total gross development value (GDV) will reach almost RM1 billion.