LRT lines bring smiles, and fears

UK developer Native Land recently launched its project on the South Bank of the River Thames, London, and unveiled it in Asia. Native Land offered NEO Bankside to buyers in Kuala Lumpur, Singapore and Hong Kong and sold 15 units out of 20.

Housing markets in the world’s leading economies continue to recover but many remain distressed as well, according to online property research house Global Property Guide’s summary of housing statistics for the year to end-3Q2009 (http://www.globalpropertyguide.com

KUALA LUMPUR: Mah Sing Group Bhd said it has on Dec 23 obtained the approval of Bank Negara for shareholder’s advance to its wholly-owned subsidiary, Mah Sing International (HK) Limited, to subscribe shares in its newly- incorporated wholly-owned subsidiary Mah Sing Property Consulting (Changzhou) Pte. Ltd.

KUALA LUMPUR: Mah Sing Group Bhd, via its wholly owned subsidiary Star Residence Sdn Bhd entered into a sale and purchase agreement (SPA) with investment holding company T.S. Law Realty Sdn Bhd for the en bloc sale of the East Wing of The Icon@JalanTun Razak for RM226.5 million cash Dec 24.

KUALA LUMPUR: The property market will benefit from the real property gains tax (RPGT) amendment announced by the government yesterday, the Real Estate and Housing Developers' Association Malaysia (REHDA) said Dec 24.

SHANGHAI: A record price for housing land in mainland China transacted in Shanghai yesterday, Dec 23, according to Colliers International's Shanghai Market Beat quoting Shanghai Daily.

MOZAMBIQUE: Almost 310,000 square meters (31 hectares) of Mozambique land was cleared this year of landmines left during the 16 year old civil war using pouched rats, said Belgian demining company Apopo, which is heading the project.

Record prices being paid for development sites on the mainland have heightened concerns that Beijing will introduce new measures to cool the property market.A high-end residential site in Shanghai's Xin Jiang Wan Cheng district was sold to China State Construction Engineering Corp yesterday for 3.72 billion yuan (HK$4.22 billion), or 32,484 yuan per square metre, the highest unit price for a ma

KUALA LUMPUR: The revision of the real property gains tax (RPGT) from the sale of property  regardless of the year of acquisition is the perfect Christmas gift to the property market.

ECM Libra Investment Research said the toning down by the government from its earlier proposal would provide a much-needed relief to the sector.