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Property retains appeal for China's new rich

BEIJING: Make small talk with someone on the mainland and eventually the topic will get around to property.

"It may be a good time to buy property in the next few months," says Miffy Li, a 27-year-old yoga teacher, sipping her tea in a coffee shop at a five-star Beijing hotel.

HSBC sees booming Asia REIT market

HONG KONG: HSBC expects the number of real estate investment trusts (REITs) in Asia to surge over the next three to four years due to demand for more risk-averse property investments, a senior executive said.Asia is seeing increased activity in the REIT IPO market this year, with the successful listing of Cache Logistics Trust in Singapore, while Sunway City plans to list its REIT in Malaysia i

SP Setia 2Q net profit up 26%

KUALA LUMPUR: SP Setia Bhd’s net profit for its second quarter ended April 30, 2010 (2QFY10) increased 26.39% to RM51.21 million from RM40.52 million the year earlier on the contribution from sales of residential and commercial properties in the Klang Valley and Johor Bahru.

Its revenue, meanwhile is up 16.2% to RM409 million, from RM352.2 million the previous year.

Sunway in MoU with Sri Lanka's Dasa Tourist

KUALA LUMPUR: Sunway Holdings Bhd is exploring a development opportunity in Sri Lanka by entering into a memorandum of understanding (MoU) with Dasa Tourist Complex (Private) Ltd on Thursday, June 17.