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.

KUALA LUMPUR: The Ministry of Housing and Local Governments expects the rate of successful applications for development plans to increase to 95% from 89.3% currently if its newly launched One Stop Centre (OSC) Online is effectively implemented.

KUALA LUMPUR: Main board-listed Malton Bhd has appointed Chong Wan Ping, 53, as its managing director (MD), according to the company in a statement to Bursa Malaysia On Feb 3.

The company did not have a position for a MD before this, according to its website.

BANGI: The Education Ministry on Feb 2 reminded contractors of 45 ailing projects under the ministry to complete them on schedule or risk being blacklisted.

Deputy Education Minister Dr Mohd Puad Zarkashi said so far five contractors had been blacklisted while 23 were in the process of being blacklisted.

KUALA LUMPUR: OSK Research has named Cahya Mata Sarawak (CMS), Hock Seng Lee (HSL) and Naim Holdings as key beneficiaries of greater job flows in Sarawak ahead of state elections by end-2010 or early 2011.

The reason being that jobs in the state are usually awarded to homegrown contractors.