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US office vacancy rate hits 16-year high

NEW YORK: The US office vacancy rate in 1Q reached its highest level in 16 years, but the decline in rents eased and crept closer to stabilisation, according to a report by real estate research firm Reis Inc.

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Former CapitaLand CEO plans China, Singapore funds

SINGAPORE: Perennial Real Estate, a firm set up by CapitaLand’s former retail chief Pua Seck Guan, plans to launch private equity funds that will invest in shopping malls in China and Singapore to tap the region’s growing consumer demand.

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MTD completes sale of buildings

KUALA LUMPUR: MTD Capital Bhd has completed the disposal of its MTD Building and Bangunan Shell Malaysia to Haluan Gigih Sdn Bhd, the company told Bursa Malaysia on April 5.

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PLB acquires land in Penang for RM38m

KUALA LUMPUR: PLB Engineering Bhd has successfully tendered for 19.86 ha (49.08 acres) of land in the southwest district of Penang island for RM38 million cash as it seeks to expand its land bank.PLB said on Monday, April 5 its unit PLB Land Sdn Bhd had signed a memorandum with the High Court of Malaya, Penang on March 31 pursuant to the successful bid to acquire the land in the court sanctione

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More than RM4 billion invested in Sabah Development Corridor in two years

SANDAKAN: The private sector has invested more than RM4 billion in the Sabah Development Corridor (SDC) related projects, since its launch two years ago.

Chief Minister Datuk Seri Musa Aman said in addition, another RM20 billion worth of investments are in the planning stage with some initiatives having been highlighted in the Budget 2010.

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