Emerging markets propel Westin brand’s global growth
STAMFORD (Connecticut): Emerging markets now account for nearly 70% of Westin development pipeline, according to Starwood Hotels & Resort Worldwide Inc.
Latest
Aeon Seberang Prai City to get makeover and new name
Seberang Perai: Aeon Seberang Prai City, the largest mall in Bandar Perda, Penang, will be renamed Perda City Mall (PCM) after undergoing asset enhancement works.
Sunway Geo Residences 2 preview draws good response
PETALING JAYA: Sunway Bhd’s public preview of its Sunway Geo Residences 2 show unit has drawn more than 900 registrations of interest for the available 318 units. More than 1,000 people came for the unveiling late last month.
Manhattan apartment rents reach a record with vacancies falling
NEW YORK: Manhattan apartment rents jumped last month, extending a surge in costs as availability tightens during the market’s peak season.
Johor denies PTP land takeover for Forest City project
JOHOR BARU: The Johor state government has denied any takeover of land owned by the Port of Tanjung Pelepas (PTP) for the Forest City project as stated by an online news portal.
Menteri Besar Datuk Seri Mohamed Khaled Nordin said the allegation was totally untrue as he was unaware of any moves by the state government to assist the project.
Eco World, a property mover and shaker
Eco World Development Group Bhd
(July 10, RM5.18)
Rehda concerned over impact of tax on housing affordability
KUALA LUMPUR: The Real Estate and Housing Developers’ Association (Rehda) is concerned over the impact that the implementation of the goods and services tax (GST) will have on the affordability of housing here.
SunREIT to generate solid earnings and cash flow in near term, says RAM
KUALA LUMPUR: SunREIT Capital Bhd, the second-largest Malaysian real estate investment trust (REIT) by assets, is expected to generate solid earnings and cash flow in the near term, underpinned by its key assets’ resilient track record, minimum guaranteed rental income from its hospitality assets and the triple net lease from its recent acquisition of the
Fajarbaru buys three tracts in Australia
KUALA LUMPUR: Fajarbaru Builder Group Bhd (FBG) has acquired three pieces of land in Australia for A$6.9 million (RM20.6 million) cash through its indirect unit, Fajarbaru-Beulah Melbourne Pty Ltd.
FBG said the acquisition was to add land bank to its property development division.
Ascott REIT to acquire three accretive assets in Malaysia, China for S$173.9m
SINGAPORE: Ascott Residence Trust (Ascott REIT) has entered into conditional agreements to acquire its first serviced residence in Kuala Lumpur as well as Wuhan and Xi’an in China. The total property value of the acquisition is S$173.9 million (RM445 million).
Ascott REIT will acquire the 207-unit Somerset Ampang Kuala Lumpur from The Ascott Ltd (Ascott) for RM175 million.
