SHAH ALAM: The Shah Alam Convention Centre (SACC) was officially launched by the Sultan of Selangor, Sultan Sharafuddin Idris Shah today, Tuesday April 27.

Set on a 2.5-acre land, SACC was built in 2006 and completed in June 2009 at a total development cost of RM66 million.

KUALA LUMPUR:  Property developer Mutiara Goodyear Development Bhd will launch four residential projects with a  total gross development value (GDV) of RM1.6 billion within this year.

The development will take up about 40 hectares of its 404-hectare landbank, said its executive chairman Hamidon  Abdullah today.

KUALA LUMPUR: Malaysian property developer Sunrise Bhd may consider injecting some of its property assets into a  real estate investment trust (REIT) as they begin to deliver stable income, its executive chairman said.

"We have invested considerably in a pool of investment assets over the last few years, which are now starting to  bear fruit," said Tong Kooi Ong.

QATAR: Qatar’s real estate sector is estimated to grow by around 7% in 2010, the Oxford Business Group (OBG) said.

KUALA LUMPUR: Tradewinds Corp Bhd (TCB) has terminated an over seven-year-old joint venture agreement (JVA) with Oxbridge Height Sdn Bhd in relation to the development of about 704 acres of the former’s land in Tebrau, Johor after the latter had defaulted on its private debt securities (PDS) and non-settlement of a guaranteed payment.

KUALA LUMPUR: UEM Builders Bhd and Ministry of Finance-owned (MoF) Jambatan Kedua Sdn Bhd (JKSB) finally signed a RM1.55 billion agreement for the construction of part of the second Penang Bridge, officially ending a two-year disagreement on certain matters in relation to the project.

Consistent paid out

Highlights:

HONG KONG: Bank of China has tightened lending to buyers of second homes on the mainland, in line with the  central government's move to curb property speculation.

In new rules on property lending published on its website last Friday, the bank says buyers of second homes are  required to pay a deposit of at least 50%, up from 40%.

PETALING JAYA: S P Setia Bhd has announced the incorporation of Setia Australia Ltd Monday April 26. Setia Australia is a wholly owned subsidiary of Setia International Ltd  which in turn is a wholly-owned subsidiary of S P Setia Bhd.