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KLCC condo market making a comeback

KUALA LUMPUR: The RM38 million sale of a penthouse unit in the exclusive The Binjai on The Park (pictured) development in Kuala Lumpur City Centre (KLCC) area last month reflects the buoyant sentiment towards the condo market in the area, said real estate consultants.

“There is a lot of confidence in the market again,” said Previndran Singhe, the CEO of Zerin Properties.

ING gets top interest for real estate unit sale

LONDON: ING Group may need to break up its world-leading real estate investment management unit to conclude a timely sale, as its bankers begin flushing out prospective buyers, sources close to the deal said.

SunREIT debuts at 89 sen

KUALA LUMPUR: Sunway Real Estate Investment Trust (SunREIT), Southeast Asia's largest initial public offering (IPO) this year, opened on Bursa Malaysia on Thursday, July 8 at 89 sen per unit with 4.8 million units traded.

BRDB takes over RM2.3b Iskandar project from Dubai World

KUALA LUMPUR: Bandar Raya Developments Bhd (BRDB) is taking over from Dubai World, an investment arm of the Dubai government, a joint-venture agreement with UEM Land Bhd to undertake the RM2.3 billion Residential North high-end mixed development in Puteri Harbour in the Iskandar Development Region, Johor.

More retail space in Shanghai in 2H

SHANGHAI: Overall rents of well-located retail projects in Shanghai, China are expected to edge up in 2H2010 led by the continued growth of rentals in prime retail areas, said Colliers International in its Shanghai Knowledge Report on the Retail Property Market for the first half of 2010 (1H2010).