HONG KONG: Amid a tightening credit crunch and a sharp decline in property sales, mainland developers are now being hit by the taxman.

The State Administration of Taxation on Thursday, June 3, ordered property companies to hold more funds for the prepayment of land appreciation tax.

KUALA LUMPUR: The Syrian International Business Centre (SIBC) Group is scouting for Malaysian companies to jointly develop a US$5.6 billion (RM18.7 billion) tourism project -- Kinderli Beach Development -- at the Caspian Sea in Kazakhstan.

Executive Chairman Dr Eng Bashar S.S. Al-Atassi said the company was getting a big project in Kazakhstan.

HONG KONG: Stephen Roach, Morgan Stanley's Asia chairman, has said investors should not worry about the vast amount of empty office blocks that are sprouting up across the mainland following last year's record bank lending spree.

On Aggressive Acquisition Mode

LRT, MRT, what’s next? Bullet Train?

The city’s infrastructure, a subject of increasing criticism, is likely to be boosted by a new mass rapid transit (MRT) system that could be put into place soon to complement the role of the monorail and LRT systems.

KUALA LUMPUR: Almost 90% of the non-bumiputera units at the latest condominium project in Desa ParkCity, one of the hottest real estate in Kuala Lumpur now, have been snapped up at an average RM600 psf over the weekend. Perdana ParkCity Sdn Bhd, developer of Desa ParkCity had held a priority launch for The Westside One condominium on June 5.

The three sky lounges unveiled so far at Bukit Kiara Properties' Verve Suites in Mont'Kiara have been the talk of the town for their unique living concepts. The developer looks set to make waves with its fourth and final block in the project.

Green Hill Development Sdn Bhd may be the new kid on the block but it is led by a team with 50 years of combined experience. Formed only two years ago, the company is headed by good friends and co-directors Datuk Amir Arif Kamarudin and Tan Hong Lai. Amir is a professional town planner with a degree in urban and regional planning while Tan is a quantity surveyor.

Petaling Jaya Utara, commonly known as PJU, is getting busier.