HONG KONG: Brand-crazy mainland shoppers are adding to the woes of Hong Kong's once mighty department stores as they shun them in favour of upscale malls and luxury goods outlets.

Traditional department stores, which once boomed in the city, have faced major challenges following the rise of shopping malls and people's changed shopping habits.

• Property sector continued trending downwards

HONG KONG: Sun Hung Kai Properties Ltd sold a batch of 900 homes in Hong Kong for HK$4.2 billion (RM1.84 Billion) at a new development over the weekend amid crowds of thousands, fuelling speculation the city’s housing market is overheating.

HONG KONG: French luxury holiday operator Club Med plans to open its first property in China at a northeastern ski resort just as casino investor Lawrence Ho Yau-lung sells down his stake in the resort's financially troubled owner, Melco China Resorts.

HONG KONG: MGM Mirage has taken a US$548 million (RM1.86 billion) write-down on land in the US as it prepares for a Hong Kong listing for its Macau partnership with Pansy Ho Chiu-king, possibly by mid-year.

Tamansari — a high-end urban renewal project unfolding in Jalan Tun Razak, Kuala Lumpur, where the Pekeliling flats once stood — is expected to give a fillip to the entire area.

Buyer interest in the property auction market is now more focused on landed properties in view of the long-term value gain, auctioneers say.First Auction Sdn Bhd’s Zaarif Zainal tells City & Country: “Apartments used to be quite hot, but to avoid the maintenance charges buyers now prefer landed residential properties.”Besides the usual prime areas such as Taman Tun Dr Ismail and Petaling Ja

Taking risks is pretty much what SKN Land & Development Sdn Bhd thrives on, declares Datuk Shamir K Nandy, the executive chairman of its holding company SKN Group. This property developer — "like some remote, sexy island in Thailand, the real jewel in the crown", according to Shamir — is not one to disregard possibilities.“We like to take risks more than to see the return.

SINGAPORE: The Government has introduced two new measures that will take effect Saturday Feb 20 to temper sentiments and pre-empt a property bubble in the private residential market.

It said the measures will help to ensure a stable and sustainable property market.

KUALA LUMPUR: The second phase of the Symphony Heights highrise residential project in Selayang has been 50% sold. Units in the second phase have been opened for sale progressively since December last year.