SHANGHAI: New home sales in Shanghai remained sluggish for the third consecutive month in July on the government's tighter property policies, ShanghaiDaily.com reported on Aug 2, quoting Shanghai Uwin Real Estate Information Services Co as its source.

SYDNEY: Australian retail sales rose only modestly in June while approvals to build new homes slipped for a third straight month, reflecting the drag of past rate hikes and adding to the case for steady monetary policy in the near term.

KUALA LUMPUR: Property developer Eastern & Oriental Bhd (E&O) continued its run-up for the seventh consecutive trading day on Monday, Aug 2, adding another three sen or 2.54% to RM1.21.

HONG KONG: The option of resuming reclamation outside Victoria Harbour to increase land supply for flats has been raised by some officials during recent discussions among the government's top tier.

KUALA LUMPUR: Perduren Bhd has acquired Christine Inn & Recreation Sdn Bhd, which owns an 80-room budget hotel, for RM300,000, the company said on Monday, Aug 2.

The budget hotel is known as Spa Hotel and located at Plaza Sentosa, Johor.

“The acquisition is in line with the intention of the Group to establish a budget hotel at Plaza Sentosa,” it said.

KUALA LUMPUR: Dijaya Corportion Bhd bought two land parcels from Danga Bay Sdn Bhd in Johor that is expected to generate a gross development value (GDV) of RM3.8 billion, the Group said on on Monday, Aug 2.

“This is a stepping stone for the Group to kick start its first property development in the southern region,” it said.

KUALA LUMPUR: Amanah Harta Tanah announced that its net profit for the second quarter ended June 30, 2010 was RM2.093 million, a marginal 2.91% increase from RM2.032 million recorded for the same period last year.

The company said on Monday, Aug 2, that revenue earned in 2Q was RM3.841 million from RM3.811 million the year before, a 0.79% increase.

MELAKA: The Kampung Baru Development Corporation, which serves as the planning and governing body for development actvities in Kampung Baru in Kuala Lumpur, is expected to be operational next year.

· Rotational plays on property stocks

LONDON: British Land and joint venture partner Blackstone confirmed plans on Monday to develop a new 700,000 sq ft UK headquarters for UBS at the Broadgate Estate in the City of London.