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Just-bought Yoho flats in Hong Kong on resale for 20% more

HONG KONG: About 40 flats bought by speculators at the new Yoho Midtown residential development in Yuen Long released at the weekend have been immediately advertised for sale on the secondary market at asking prices of up to 20% more than the prices buyers had originally paid.

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Commercial real estate will rebound this year, says CBRE

PETALING JAYA: Economies are rebounding and so will commercial real estate, but not in the same gusto, according to CB Richard Ellis Inc (CBRE).

In its Global Market View February 2010 research note, CBRE said overall, the global commercial real estate market is becoming better – slowly, it said.

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Mah Sing makes second land acquisition this year for RM21.7 million

KUALA LUMPUR: Mah Sing Bhd has made its second land acquisition this year – a 6.32-acre commercial tract next to its 115.25-acre Garden Residence (pictured) in Cyberjaya for RM21.7 million, or RM79 psf. This means Garden Residence’s land size will be increased to 122-acres while the project’s total gross development value (GDV) will reach almost RM1 billion.

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Malls make life hard for department stores in Hong Kong

HONG KONG: Brand-crazy mainland shoppers are adding to the woes of Hong Kong's once mighty department stores as they shun them in favour of upscale malls and luxury goods outlets.

Traditional department stores, which once boomed in the city, have faced major challenges following the rise of shopping malls and people's changed shopping habits.

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Club Med enters China with Melco unit deal

HONG KONG: French luxury holiday operator Club Med plans to open its first property in China at a northeastern ski resort just as casino investor Lawrence Ho Yau-lung sells down his stake in the resort's financially troubled owner, Melco China Resorts.

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