SYDNEY: CB Richard Ellis anticipates the Sydney central business district (CBD) strata market to slowly recover with more moderate sales transaction numbers expected over the second half, especially when compared with the highs seen prior to 2008.

It added that the Sydney CBD strata office market is set to continue to be an affordable means of direct property ownership.

KUALA LUMPUR: The government plans to attract at least 200 multi-national companies (MNCs) to set up office in Kuala Lumpur by 2020, mainly in the Greater Kuala Lumpur/Klang Valley conurbation.

KUALA LUMPUR: TA Global Bhd is partnering with Sydney-based property funds management and development company Charter Hall Group to develop Little Bay, a A$600 million (RM1.84 billion) residential project in Sydney, New South Wales in Australia.

Investment Highlights

• We are re-initiating coverage on Malaysian Resources Corp Bhd (MRCB) with a HOLD rating and fair value of RM2.13/share based on 15% discount to our sum-of-parts valuation (SOP) of RM2.50/share.

GEORGE TOWN: Another prime piece of land in George Town, located in Pykett Avenue, belonging to the Wesley Methodist Church is being keenly pursued by property developers.

The four-acre plot now houses the SK (Sekolah Kebangsaan) Pykett Methodist, which has been in existence since 1955.

WASHINGTON: A US House of Representatives subcommittee on housing issues will hold a hearing on home foreclosures when lawmakers return from recess after the November elections, the panel announced on Monday, Oct 18.

ATLANTA: Home Depot Inc thinks home is the best place to improve sales in the near-term, the retailer's chief executive said on Monday, Oct 18.

KUALA LUMPUR: A framework on developing green townships will be ready by end of the year, Energy, Green Technology and Water Ministry's senior undersecretary for green technology sector Mohd Rosli Abdullah said.

MECCA: The Mayor of Mecca, Dr Osama Al-Bar, who is also a member of the Central Haj Committee and Chairman and Chief Excecutive of the Mecca Development Authority, has promised that a number of large projects currently underway in the city will be completed by 2012.

CHINA: The Chinese government plans to impose property tax in Shanghai and Chongqing by the years' end to curb property speculation, according to a report by online news portal soufun.com.