KUALA LUMPUR: Malton Bhd recorded a 208.8% jump for its pre-tax profit for its 2QFY2010 (FYE June 30, 2010) to RM10.5 million compared with RM3.4 million in the previous corresponding quarter. The group’s revenue, however, decreased by 13% to RM116.3 million for the same quarter compared with RM133.6 million in the previous corresponding quarter.
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.
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.
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.
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.
• Property sector continued trending downwards
HONG KONG: Sun Hung Kai Properties Ltd sold a batch of 900 homes in Hong Kong for HK$4.2 billion (RM1.84 Billion) at a new development over the weekend amid crowds of thousands, fuelling speculation the city’s housing market is overheating.
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.
HONG KONG: MGM Mirage has taken a US$548 million (RM1.86 billion) write-down on land in the US as it prepares for a Hong Kong listing for its Macau partnership with Pansy Ho Chiu-king, possibly by mid-year.