Ascott opens first Somerset serviced residence in India
SINGAPORE: The Ascott Ltd, a subsidiary of CapitaLand Ltd, has opened its first Somerset serviced residence in India, the 187-unit Somerset Greenways Chennai.
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Asia offers bright prospects for real estate investment, say industry leaders
KUALA LUMPUR: Asia, including Malaysia, offers bright prospects for real estate investment and development, say industry leaders at the 11th Forbes Global CEO Conference.
Chao Teng-Hsiung, chairman of leading Taiwan developer Farglory Group, said real estate players were now focusing on Asia following the economic problems in the US and debt crisis in Europe.
Kedah gov't losing revenue over misuse of category of land use
ALOR SETAR: The Kedah government requires owners of agricultural land misused for other purposes to obtain a temporary permit pending application for conversion of the category of land use, Menteri Besar Datuk Seri Azizan Abdul Razak said on Wednesday, Sept 14.
He said 76 such temporary permits had been issued up to last month since the requirement was gazetted on March 31 this year.
China's Ping An obtains PE, property investment licenses
SHANGHAI: Ping An Insurance (Group) Co of China Ltd has obtained regulatory clearance to invest in private equity and real estate, the official Shanghai Securities News reported on Wednesday, Sept 14.
Total investment in the two areas by the world's No 2 insurer by market value could total 110 billion yuan (RM53.11 billion), the newspaper reported citing unidentified sources.
Property prices on Penang more resilient, says expert
GEORGE TOWN: A leading property expert said he does not expect property prices in Penang to see a major correction if there is a global downturn because the prices have not escalated as much as in other markets.
Another reason is that demand far outstrips supply, said CB Richard Ellis (CBRE) managing director Allan Soo.
Pantai plans three new hospitals
KUALA LUMPUR: Pantai Holdings Bhd plans to expand its foothold in the country by expanding its hospital network through three new hospitals with an total investment of RM720 million.
Chairman Khairil Anuar Abdullah said the three new hospitals, scheduled to be operational within three years, would be in Iskandar Malaysia, Kota Kinabalu and Manjung in Perak.
Hotel prices in Malaysia continue to rise
KUALA LUMPUR: Hotel rates in Malaysia have increased in the first half (1H) of 2011, according to the latest Hotels.com Hotel Price Index (HPI).
Prices rose to an average of US$123 (RM371.46) per room per night in Malaysia, an increment of 6% from 1H 2010.
Taylor's University Lakeside Campus wins PAM award
KUALA LUMPUR: Taylor's University Lakeside Campus has recently received the Gold winner in the Education category at the Malaysian Institute of Architect's (PAM) Awards .
Greek property tax a band-aid, no long term cure
ATHENS: A new property tax may pull Greece back from the brink of default by securing desperately needed European Union/International Monetary Fund (EU/IMF) cash but it also exposes the government's foot-dragging in curing chronic structural ills to exit its debt crisis.
China warns banks of risks in commercial property
BEIJING: China's bank regulator has urged banks to guard against risks in commercial real estate projects that have been targeted by speculative investment, the China Securities Journal reported on Tuesday, Sept 13, citing an unnamed source.
