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UOA REIT's 3Q net profit drops to RM6.2m

KUALA LUMPUR: UOA Real Estate Investment Trust (REIT) recorded a drop in net profit of 14.4% to RM6.25 million from RM7.3 million a year ago in its third quarter (3Q) financial statements ended Sept 30, 2010, the trust announced on Monday, Nov 29.

Revenue collected during the period dropped by 5% to RM10.61 million from RM11.15 million a year ago.

US commercial real estate to improve slightly in 2011

WASHINGTON, DC: The commercial property market is beginning to even out and is expected to modestly improve next year on a recovery in fundamentals, said the National Association of Realtors (NAR).

The Heron bags Best High Rise Development award

LONDON: Premium apartment scheme The Heron has won an award in the Best High Rise Development category at the UK Property Awards on Saturday, Nov 27.

Its developer Heron International said the award encompassed all areas of the development such as its location, design, appearance, amenities and marketing, in a statement on Monday.

NZ house building consents fall in October

WELLINGTON: The number of new dwelling consents approved in New Zealand fell in October as housing activity was sluggish, backing views the central bank will hold rates unchanged well into next year.

Dr M raises concerns on property boom in KL

KUALA LUMPUR: Fourth Malaysian prime minister Tun Dr Mahathir Mohamad has raised concerns about the current property development boom in here.

In a posting on his blog on Tuesday, Nov 30, he asked if the current property boom could last despite a growth in the population of the city and its outlying Greater Kuala Lumpur area.

Bina Puri to build Ampang Line extension for RM702.34m

KUALA LUMPUR: Bina Puri Holdings Bhd (BPHB) has been awarded the contract from Syarikat Prasarana Negara Bhd to construct and complete the Ampang Line extension project of the light rail transit (LRT) for a contact value of RM634 million. The construction period is to take 27 months.

Ekovest buys 10 bungalow lots in JB for RM15.4m

KUALA LUMPUR: Ekovest Bhd — via its whole owned subsidiary Milan Prestasi Sdn Bhd — acquired 10 bungalow lots in Johor Bahru from Danga Bay Sdn Bhd for RM15.4 million, the group announced on Monday, Nov 29.

The reason for the acquisition is for the purpose of investment in a strategic location with potential for capital growth or development purposes, said the group.