News about US

SINGAPORE (Aug 2): Frasers Centrepoint Ltd’s Australian unit, Frasers Property Australia (formerly Australand), on Tuesday announced it is acquiring a 10ha site adjacent to its Eastern Creek Business Park in western Sydney.

KUALA LUMPUR (Aug 2): Malaysians are looking at offshore investments to diversify from ringgit-denominated assets, considering that the exchange rate of the local currency does not fare well in the low crude oil price environment.

WITH widespread expectation that global interest rates will stay low for a long time, real estate investment trusts in Singapore have performed well since the beginning of this year, despite a chorus of warnings about the deteriorating fundamentals of the commercial property sector.

KUALA LUMPUR (Aug 1): Bina Puri Holdings Bhd has bagged an RM80 million contract from Arus Sutera Sdn Bhd to provide project management consultancy services for 440 units of walk-up flats under the People's Housing Project in Pitas, Sabah.

Pavilion Real Estate Investment Trust (July 29, RM1.

PETALING JAYA: SMD Development Sdn Bhd (SMD), which has its development footprint in Kundang, Rawang, has more to offer with upcoming projects, according to its CEO Datuk Jeffery Tan.

KUALA LUMPUR (July 29): Rental income from DaMen Mall and Intermark Mall, which Pavilion Real Estate Investment Trust (PavREIT) acquired at end-March, lifted the trust’s net property income (NPI) for the second quarter ended June 30, 2016 (2QFY16), by 13.

KUALA LUMPUR (July 29): Practice Note 17 (PN17) company Malaysian Pacific Corp Bhd (MPCorp) has inked a memorandum of understanding (MoU) with a Singapore company Terra Pontus Pte Ltd for the proposed disposal of a part of Wisma MPL for RM250 million.

SUBANG JAYA (July 28): AmFIRST Real Estate Investment Trust (AmFIRST REIT) will spend between RM20 million and RM30 million to refurbish the Summit Hotel Subang USJ (pictured) in order to maintain its four-star rating, Bernama reported today.

AFTER eight years of selling its condominiums overseas, Japan’s Mitsubishi Jisho Residence Co Ltd is finally bringing its brand of condos to Malaysia.