KUALA LUMPUR: AmanahRaya Real Estate Investment Trust (ARREIT) reported a net profit of RM10.1 million for the fourth quarter (4Q) for financial year ended Dec 31, 2010 an increase of 23% from RM8.1 million reported in the same quarter a year ago.

KUALA LUMPUR: Beleaguered Ho Hup Construction Company Bhd aims to complete its restructuring exercise by the third quarter (3Q), according to its board.

This is notwithstanding the outcome of its dispute with Malton Bhd concerning the joint development agreement (JDA) of a 60-acre (24 hectares) plot in Bukit Jalil, which is Ho Hup's crown jewel.

KUALA LUMPUR: Magna Prima Bhd has launched the first phase of its RM470 million commercial development along Jalan Kuching here. Pusat Komersil Jalan Kuching, also known as Boulevard Business Park @ Jalan Kuching, consists of shopoffices, serviced apartments and a mall to be developed over three phases.

KUALA LUMPUR: Penang has not been left out of the Economic Transformation Programme (ETP), contrary to claims by certain quarters, that the island-state was not being offered any project or development under it.

KUALA LUMPUR: Construction jobs worth billions of ringgit are expected to be dished out, closer to the 10th Sarawak state elections, slated to be held this year, according to OSK Research.

In a research note on Friday, Feb 11, OSK Research believed that most of these jobs would focus on basic infrastructure in the rural areas to ensure continued political support.

KUALA LUMPUR: FIABCI Malaysia is calling for entries for its 19th Malaysia Property Award 2011 competition. Property developed in Malaysia between 2006 and 2010 are eligible. The deadline for submissions is March 31.

All winners will automatically be eligible for final selection of the FIABCI International Prix d'Excellence Award, which is contested by 60 countries.

LONDON: London's residential sector will see rental rates increase by 3% this year, forecasts property consultant Cluttons in a report released on Wednesday, Feb 9.

"This year's growth will have a positive impact on yields during a year when capital value growth will be at 2.5%," said Andrew Stanford, head of residential consultancy divisions at Cluttons.

KUALA LUMPUR: Areas in the vicinity of Klang, Shah Alam and Kuala Langat will face water supply disruptions on Feb 26 due to the relocation of water mains by housing developers following the implementation of housing development projects there.

KUALA LUMPUR: Pintaras Jaya Bhd reported a net profit of RM8.2 million for its second quarter (2Q) result for the financial year ending June 30, 2011, an increase of 103% from RM4 million recorded for the preceding year's corresponding quarter, due to higher contribution by the manufacturing division while contribution from the construction division was lower.

LONDON: Central London property prices rose 1.1% in January 2011, pushed by tight supply, according to the Knight Frank Prime Central London Index for January 2011.