Making its Way to Nusajaya

THE BUZZ

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).

KUALA LUMPUR: Bandar Raya Developments Berhad (BRDB) announced that it is acquiring a 60% stake in Haute Property Sdn Bhd in a move to leverage BDRB's property development expertise to participate in the growth of the Iskandar Development Region.

SHANGHAI: The capital value growth of Shanghai’s Grade A offices continued to outpace rental rate growth in 2Q 2010 as the market sees evidence of further yield compression, according to Colliers International.

KUALA LUMPUR: Cluttons LLP, a UK-based international property consultancy and chartered surveying firm, has signed an association agreement with VPC Asia Pacific Ltd.

KUALA LUMPUR: Suntrack Development Sdn Bhd's SummerGlades in Cyberjaya have been 85% sold prior to launch with construction starting end-July.

The gross development value of this project is RM115 million, and is targeted to be completed by 1Q2012.

Just months after government measures dampened enthusiasm for flat-buying, the market is roaring back — so much so that some properties are back to 1997 levels.

Taking advantage of the upturn in sentiment, developers will release nearly HK$4 billion (RM1.65 billion) worth of flats this weekend.

On higher ground

KUALA LUMPUR: MTD ACPI Engineering Bhd, through its wholly owned subsidiary Makin Permata Sdn Bhd, entered into a sales and purchase agreement with Campio Builders Sdn Bhd on July 6 for a 3.434-acre freehold commercial tract for RM8.23 million, the Group announced in a filing with Bursa Malaysia on Wednesday, July 7.