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London’s Embassy Works has 25% take-up by Malaysians

KUALA LUMPUR: Embassy Works, comprising 39 luxury New York-styled loft apartments in Nine Elms, London reported a 25% take-up rate by Malaysians.

Danny S K Yeo, deputy managing director of CH Williams Tahar & Wong, described the sales figures as “encouraging” and expects the remainder of the units to be picked up by Hong Kong and Singaporean investors.

Tailor-made homes in The Travertine

KUALA LUMPUR: Urban Anchor Development Sdn Bhd, a Malaysian and Hong Kong joint venture company, launched its first project in Malaysia — The Travertine in Hartamas Heights — last Friday.

€161 million for Paris’ Tour Blanche

KUALA LUMPUR: The Tour Blanche building in Paris La Défense was acquired by Plaza Global Real Estate Partners (Plaza Global) for some €161 million (RM668.79 million) from a fund advised by Perella Weinberg Real Estate in late October.

MIEA: No downturn in 2015

KUALA LUMPUR: The property market will not see a downturn in 2015, despite the slowdown over the past three quarters, said Malaysia Institute of Estate Agents (MIEA) president Siva Shanker.

He also expects the property market to pick up in 2016 and 2017. Siva was giving a talk at the Annual Malaysian Market Outlook — Rounding Up 2014 on Tuesday.

KPDO unveils renovated Tungading in Hong Kong

KUALA LUMPUR: An Australian-owned design company, Kerry Phelan Design Office (KPDO), unveiled and launched the newly renovated Tung Fat Building in Kennedy Town, Hong Kong, on Nov 3. The project is KPDO’s first in Hong Kong.

I-Bhd’s 3Q net profit soars over five times to RM14.23m

KUALA LUMPUR: I-Bhd’s net profit for the third quarter ended September of financial year 2014 (3QFY14) jumped to RM14.23 million, a big leap from RM2.68 million in 3QFY13 due to higher recognition from project completion and sales.

Residential property prices to rise 3% to 4% after GST

KUALA LUMPUR: Residential properties are exempt rated but the net impact from the implementation of the goods and services tax (GST) will cause their prices to rise 3% to 4% after the consumption tax comes into play next April, said Mah Sing Group Bhd executive director Datuk Steven Ng Poh Seng.

The Nomad Group to sell six assets at about half its initial investment price

KUALA LUMPUR: The Nomad Group Bhd wants to hive off six assets to a Hong Kong-incorporated management service firm for £4.25 million (RM22.3 million) cash, which is about half or 47.3% less than the RM42.3 million initial investment the group forked out for the properties between 2007 and 2014.

Historic 109-year-old RBS building up for sale

GEORGE TOWN: The iconic 109-year-old Royal Bank of Scotland (RBS) building within the island’s banking district is going up for sale via tender for a month beginning on Monday. Property consultancy firm CB Richard Ellis (Malaysia), or CBRE Malaysia, believes it will draw bidders from around the world.

Ministry under fire for wrong decision in project awards

KUALA LUMPUR: The Urban Wellbeing, Housing and Local Government Ministry came under fire yesterday for awarding two incinerator projects worth RM88.74 million to a small, relatively unknown contractor, which had earlier experienced two failed pilot projects.