KUALA LUMPUR: Housing construction fell in February as blizzards depressed activity in the Northeast and South of the US. The decline highlighted problems facing builders as they struggle to emerge from the worst housing slump in years.

BOSTON: The apartment market in the US will improve as vacancy rates decline, according to a report from CB Richard Ellis Group Inc’s Econometric Advisors (CBRE-EA, formerly CBRE Torto Wheaton).

Vacancy rates will drop to a 6.8% average this year, compared with 7.4% in 2009, constituting a 60 basis points (bps) improvement, CBRE-EA said in a statement released on March 11.

SHAH ALAM: The RM10 billion Klang River cleaning project, which is part of the river’s RM50 billion rehabilitation and development project, is expected to be funded via a private financing initiative (PFI).

Selangor Menteri Besar Tan Sri Khalid Ibrahim said yesterday (March 16) that a detailed briefing on the project would be held on March 29, 2010.

KUALA LUMPUR: Ho Hup Construction Company Bhd’s shareholders, including Low Chee & Sons Sdn Bhd, will have the chance to vote at its EGM today (March 17) to decide whether to replace its existing board or not.

KUALA LUMPUR: ECM Libra Investment Research is maintaining its Buy call and target price for SP Setia at RM4.05 based on upper-end P/E valuation of 20 times on CY10 EPS.
It said on Wednesday, March 17 it did not expect a material impact after the property company terminated the 50:50 joint venture for the Setia View project in Penang.

KUALA LUMPUR: Maju Holdings Sdn Bhd's 1,000-acre property in Ulu Tiram, Johor is set to become a high-end, integrated and gated community.

PETALING JAYA: Setia Promenade Sdn Bhd, a wholly owned subsidiary of S P Setia Bhd, has terminated a joint-venture agreement with PPH Resorts (Penang) Sdn Bhd for the proposed development of a 45-acre freehold land in Penang Island, citing among other reasons, failure of common purpose of the agreement.

KUALA LUMPUR: Mah Sing Group Bhd has achieved 80% sales of 268 units for its Perdana Residence 2 project in Selayang to date.

A preview of the projects show units on March 13 in Selayang, saw more than 500 buyers and visitors touring the show houses and giving their feedback on the 3-storey superlink homes.

BEIJING: Two land sales in Beijing have shattered price records and both buyers were state-owned companies, sparking outrage and astonishment at the city's frothy property market.

KUALA LUMPUR: The closure of Puduraya bus station, schedule to start on March 19, has been postponed to another date, UDA Holdings Bhd said.

In a statement, he said the postponement was decided during a meeting with the Federal Territories and Urban Wellbeing Ministry, Commercial Vehicle Licensing Board, Kuala Lumpur City Hall, Road Transport Department and police.