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HK new-home completions down - but starts are up

HONG KONG: The number of homes completed in the city in the first seven months has plunged 43 per cent from a year earlier, Ricacorp Properties says. But housing construction starts were up.

A rise in construction starts should mean more flats coming onto the market in two to three years' time.

Prime London a safe bet, says LCP

LONDON: Recent global concerns over Southern European sovereign debts, downgrade of credit rating for the US, volatility in the stock markets coupled with the recent rioting and looting incidents in London have had a knock on property prices in England and Wales. Prices in London Central however, has bucked the trend and continue to rise.

Sime Darby buys 30% of E&O for RM766m

KUALA LUMPUR: Sime Darby Bhd is acquiring a 30% strategic stake in Eastern & Oriental Bhd for RM2.30 per share or RM766 million to extend its presence in the property development and hospitality sectors, beyond the Greater KL region, specifically in Penang and Johor.

City&Country: Cover Story-- An icon rises in Kota Kinabalu

Prime land for development in the central business district (CBD) of Kota Kinabalu, Sabah’s capital city, is not easy to come by. So, when a 2.5-acre parcel came up for auction three years ago, businessman Datuk David Chu seized the opportunity to add to his landbank and acquired the site.

Ireka in the black, RM7.5m net profit

KUALA LUMPUR: Ireka Corporation Bhd was in the black in the first quarter ended June 30, 2011, with earnings of RM7.45 million compared with a net loss of RM3.26 million a year, lifted by contribution from its associate, Aseana Properties Ltd.

Lagenda Erajuta to build Novotel Hotel in Klang

KUALA LUMPUR: Lagenda Erajuta Sdn Bhd, a subsidiary of leading property developer from Sabah, Sagajuta (Sabah) Sdn Bhd, plans to build a RM70 million international four-star hotel at its 1Gateway project in Klang.

Best Western opens second hotel in east M’sia

KUALA LUMPUR: Best Western International’s latest property in Malaysia opened its doors in Sabah last month. The international hotel chain’s second property in east Malaysia, the Best Western Sandakan Hotel and Residence, is situated in Bandar Letat Jaya, midway between Sandakan airport and the city centre.

Asia-Pacific real estate growth to continue till year-end

KUALA LUMPUR: Asia-Pacific’s growth in real estate investments is expected to continue for the remainder of the year due to sound domestic demand by occupiers and investors, a relatively strong corporate/household sector and high savings rates.