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Developers offer world to HK buyers

HONG KONG: A slowdown in domestic demand for homes in the US and Europe is prompting property developers there to search for buyers in Asia, particularly in Hong Kong and on the mainland.

The address list of foreign cities that find favour among Asian buyers includes London, Sydney and Singapore. More recently, it has expanded to Europe, particularly in Italy.

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Perak urges Wenzhou business community to invest in property, biodiversity

WENZHOU (China): The Perak government has urged investors from Wenzhou to seek opportunities in the state, especially in real estate, biodiversity as well as manufacturing industries.

Its Senior Executive Councillor Datuk Hamidah Osman said the state government and local property developers are keen on inviting the people of Wenzhou to come and see for themselves, Perak's potential.

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#Latest* Pudu Prison redevelopment to kick off this year

KUALA LUMPUR: The redevelopment of the Pudu Prison site along Jalan Pudu in Kuala Lumpur is expected to commence construction by year-end.

UDA Holdings Bhd managing director Datuk Jaafar Abu Hassan told theedgeproperty.com recently, that the developer is “at the tail end of finalising plans for the project and hopes to start building within this year”.

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Government measures fail to stop market surge in Greater China

HONG KONG: Property markets across Greater China are finding themselves in the same boat -- fearful that last year's lending binge may have created a bubble.

In response to those concerns, the authorities have since March taken measures to cool their overheated markets. Except for the mainland, the measures have had little impact so far.

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Nan Fung wins HK site at price far below forecast

HONG KONG: Property developer Nan Fung Development won a Hong Kong residential site for less than expected last Thursday, May 6, with many developers staying on the sidelines as auctioneers repeatedly threatened to withdraw the site from bidding.

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#Latest* Klang Valley’s landed housing market is hot

KUALA LUMPUR: Landed property in Malaysia’s prime property hub, the Klang Valley, remains hot, with prices in sought-after locations spiking of late after climbing steadily over the last two years.

Even the recent global recession has failed to shake market confidence, which is being translated into rising prices.

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Magna Prima files report against ex-CEO

KUALA LUMPUR: Magna Prima Bhd has lodged a police report against its former CEO Lim Ching Choy for alleged criminal breach of trust.

The property developer said on May 10 Lim was alleged to have made fraudulent personal claims during his tenure with the company between Nov 1, 2006 and May 14, 2009.

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