LONDON: British Housing Minister John Healey came under fire on Feb 11 for saying it was the “best thing” for some hard-pressed families to have their homes seized by banks.

"In some cases, it is the best thing for the people who are struggling with those mortgages," Healey told BBC radio.

KUALA LUMPUR: Sunway Holdings Bhd has secured a RM21.48 million contract from Sunway City Bhd (SunCity) to build 100 2-storey cluster homes and one Tenaga Nasional Bhd sub-station.

Sunway said on Feb 12 the completion date is Aug 1, 2011 with the construction period at 18 months.

WASHINGTON: Commercial real estate loans have the potential to go sour and wreck the US economy unless regulators prepare now, according to a report on Feb 11 from a watchdog Congress created for the government’s financial bailout programme.

Although it was not spared the global credit crunch, the Malaysian property market has been resilient and we see further growth. The “stem” of the year 2010 is “geng” (yang metal ?) while the root is “yin” (yang wood ?). When the stem and root are put together, the sound consonance is wood.

SINGAPORE: CapitaLand, Southeast Asia's biggest developer, said it has the war chest to buy more assets after posting an 11-fold rise in fourth quarter net profit, helped by a massive one-time gain.

SYDNEY: Macquarie Group sold out of most of its Australian real estate business on Friday Feb 12 for US$265 million as as part of its strategy to focus harder on traditional investment banking and broking.

HONG KONG: The public is sceptical about the effectiveness of green features in new buildings and wants the government to limit the floor area allotted to them, a consultation has found.

When calculating the gross floor area of a building, a developer is granted exemptions for the green features and amenities added to it, which allows the firm to build more flats on the site.

SHANGHAI: China Construction Bank plans to raise the downpayment requirement and interest rates for clients buying their second or subsequent homes, state media reported on Friday Feb 12.

The Shanghai Securities News cited CCB as saying at its annual meeting that the move was part of this year's plans for controlling the pace of lending.

KUALA LUMPUR: Disgruntled shareholders of Ho Hup Construction Co. Bhd has requistioned for an EGM to be held on March 17 to seek the removal of seven directors, after the first EGM, which was to have been held on Feb 4, was cancelled.

KUALA LUMPUR: I-Berhad, developer of I-City in Shah Alam has seen its annual profits after tax for the financial year ending Dec 31, 2009 drop 94.4% to RM861,000 from RM15.32 million in the previous financial year.

Annual revenue dropped to RM5.76 million from RM95.77 million while basic earnings per share dropped to 81 sen from 14.4 sen in the previous financial year.