PERTH: Holiday Inn City Centre in Perth, owned by Eureka Funds Management Pty Ltd, has been sold to a local investor syndicate for A$44 million (RM136 million), said to be the first major hotel transaction in the Perth CBD since the 2007 sale of the Citigate hotel for A$52 million.

PETALING JAYA: Increasingly, more UK developers are eyeing Malaysian investors for their projects, and the latest is Weston Homes plc. The developer is promoting Bridges Wharf, a mixed residential project comprising three apartment towers with a total of 266 units. Unit sizes range from 450 to 2,000 sq ft and the development is said to boast state-of-the-art fittings.

NEW YORK: Fannie Mae and Freddie Mac have made supporting President Barack Obama’s mortgage-modification programme a main focus of their business in recent months, the government-run companies’ chief executive officers said.

PETALING JAYA: As Permodalan Nasional Bhd (PNB), the country’s biggest fund management company, plans to develop the former Tunku Abdul Rahman Park next year, the question now arises: What kind of developments are suitable on such prime land?

SYDNEY: Direct ownership of property in Australia has delivered higher returns than listed property trusts or fixed interest products, an industry association said on Oct 13.

RAMALLAH, West Bank: The Palestine Investment Fund (PIF) on Oct 12 announced the establishment of the Palestinian territories' most ambitious real estate project to date, with initial capital of US$220 million (RM745 million).

The goal is to create 30,000 new housing units in the next five to 10 years, PIF chairman Mohammad Mustafa said.

SYDNEY: Investa Property Group, an Australian real estate company owned by Morgan Stanley funds, plans to raise as much as A$750 million (RM2.3 billion) in an initial public offering of some assets, two familiar with the matter said.

KUALA LUMPUR: Master Builders Association Malaysia (MBAM) member companies will join the Construction Business Mission to The Maldives from Oct 12 to 14 to foster better ties and explore business opportunities with their Maldivian counterparts.
 

KUALA LUMPUR: Construction group, Zecon Bhd has been awarded an RM182 million contract to design and build the Faculty of Medicine and Health Sciences and Institute of Health and Community Medicine of Universiti Malaysia Sarawak (Unimas) in Kota Samarahan, Sarawak.

KUALA LUMPUR: Low Yat Group expects some RM55 million in rentals over five years from the retail portion of its Rivercity mixed development project along Jalan Ipoh in Kuala Lumpur.