HONG KONG: The government says land leases enjoyed by private clubs, which paid little or no premium for their land and are charged only a nominal rent, are outdated and need to be evaluated when they come up for renewal soon.

HONG KONG: US real estate firm LaSalle Investment Management said it has hired Mark Gabbay as chief investment officer for Asia Pacific.

Before joining LaSalle, Gabbay was in Asia for more than 12 years, most recently at Nomura Holdings. Before that he worked for Lehman Brothers as managing director and co-head of real estate for Asia Pacific.

KUALA LUMPUR: Syarikat Prasarana Negara Bhd (Prasana) hopes to start the first phase of construction for the Light Rail Transit (LRT) extension for both the Kelana Jaya and the Ampang lines by this year-end, Prasana managing director Datuk Idrose Mohamed said during a media briefing on Thursday, June 24.

The construction is expected to be completed in three years.

KUALA LUMPUR: Permodalan Nasional Berhad (PNB), Malaysia's largest fund manager, will conduct a study on the government's plan to redevelop Kampung Baru, the only Malay heartland in metropolitan Kuala Lumpur.

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KUALA LUMPUR: Dijaya Corporation Bhd, known for its flagship Tropicana Golf and Country Resort development, is eyeing more land parcels as it seeks to grow its current landbank of 460 acres (184 hectares), its managing director Datuk Tong Kien Onn said yesterday.

HONG KONG: Rents in mass residential housing in Hong Kong have surged more than 20% in the past year and the trend is likely to continue, according to property agents.

Monthly rents at 100 selected housing estates averaged HK$18.40 per square foot in May, according to data compiled by Midland Realty.

KUALA LUMPUR: Berjaya Land Bhd (BLand) has posted a fourth quarter net profit of RM72 million for financial year ending April 30, 2010, a 245% increase from a net loss of RM49.5 million a year earlier.

The growth was underpinned by a higher profit contribution from the property development division, as well as a higher share of profits from associated companies.

KUALA LUMPUR: United Malayan Land Bhd (UM Land) plans to increase the number of product launches in all of its three mixed development townships this year.

In addition to that, the company would also introduce new products to cater to the purchasers' needs and the changing market environment, as well as improve its efficiency in land usage.

KUALA LUMPUR: Pahang-based property developer Pasdec Holdings Bhd has entered into a memorandum of agreement (MoA) with Pembangunan Buku Hijau Holdings Sdn Bhd (PBHH), and Imtech Dygenic Technology (M) Sdn Bhd to form a 40:40:20 joint-venture company (JV) for the proposed National Halal Gelatine project.