KUALA LUMPUR: The Malaysia-German Chamber of Commerce and Industry (MGCC) has received overwhelming response from Malaysian construction companies to participate in Bauma 2010, the world's largest exhibition for the construction and mining industry.

KUALA LUMPUR: Island and Peninsular Sdn Bhd (I&P) saw its recent launch of Canting 2 Parcel B (pictured) at Alam Impian, Shah Alam fully sold in three hours on Jan 30.

The parcel, with a gross development value of RM24.2 million, comprises only 48 units of 2-storey and 2½-storey terraced houses.

Showflat of the three-bedroom loft at Holland Residences

Property sector

SHANGHAI: China’s property market “bubble” is set to burst as the government curbs credit growth and clamps down on speculation, according to independent economist Andy Xie.

As bank lending slows, “it’s very difficult to see this demand continuing”, Xie, formerly Morgan Stanley’s chief Asian economist, told Bloomberg Television in Hong Kong on Feb 2.

KUALA LUMPUR: The residential market in the UK is making a steady upward climb in 4Q2009, building on the positive results from 3Q2009 as reported by Knight Frank in their Residential Development Land Index fourth quarter 2009 report for both urban and Greenfield (undeveloped) land.

WASHINGTON: Pending sales of existing US homes edged up as expected in December, while home vacancies rose in the fourth quarter, pointing to a slow and painful recovery for the troubled housing market.

KUALA LUMPUR: Inter-Pacific Research revised upwards its earnings forecast for Hunza Properties in  FY10 by 33% after considering unbilled sales of RM200mn, sizable land bank, positive sales momentum and strong sales in 1HFY10.

LONDON: British construction activity fell at its slowest pace in 23 months in January, a survey showed on Feb 2, as firms shed jobs at a reduced pace and confidence improved, but a fall in orders showed conditions remain tough.

The Chartered Institute of Purchasing and Supply and Markit said their construction PMI index rose to 48.6 in January from 47.1 in December.

KUALA LUMPUR: Hektar Real Estate Investment Trust (REIT)’s fourth quarter profits for the financial year ending Dec 31, 2009 dropped 70% to RM9.57 million from RM32.63 million in the same period a year ago, according to a statement to Bursa Malaysia.