KUANTAN: The Fire and Rescue Department is building 60 more fire stations nationwide in addition to the existing 254 stations, its director-general, Datuk Hamzah Abu Bakar said on Friday, May 21.

He said there were also plans to upgrade facilities at the stations under the 10th Malaysia Plan.

KUALA LUMPUR: AmanahRaya Real Estate Investment Trust (AmanahRaya-REIT) expects RM2.151 million in annual rental for three years by leasing its warehouse complex in Port Klang to Kontena Nasional Bhd.

The lease is for nine years and rental of the warehouse will be revised every three years at a pre-fixed rate to be agreed by both parties.

KUALA LUMPUR: AmanahRaya-REIT Managers Sdn Bhd is to grow the asset size of the real estate investment trust (REIT) to RM1.5 billion in the next two years, from RM1.002 billion, at present.

The total assets put AmanahRaya-REIT in second place after Starhill REIT, said Chairman Tan Sri Ahmad Fuzi Abdul Razak.

KUALA LUMPUR: Hang Seng Bank (China) Ltd is buying is buying office and retail space in the Lujiazui area of in Pudong, Shanghai to house its local HQ.

KUALA LUMPUR: China will be the world's biggest market for luxury goods in five years, according to a paper released by the Chinese Academy of Social Sciences, the ShanghaiDaily.com reported on May 20.

KUALA LUMPUR: Longfor Group announced that the firm has been brought into MSCI China Index, which will come into effect on May 26, the Sina daily announced on May 21.

The Longfor Group is the 8th property unit brought into the index. The other seven include China Resources, Sino-Ocean Land, Shimao Property, and SOHO China.

BEIJING: China may launch a property tax trial in some cities later this year to stop speculation in the housing market, a property industry group said on May 19.

HONG KONG: Driven by private investor and owner-occupiers, demand in sales and land led the Asia-Pacific industrial market over the period between October 2009 and March 2010, according to Colliers International's latest Asia-Pacific Industrial Market Overview.

HONG KONG: Industrial property markets in the region finally stabilised after the global financial crisis as keen investment demand drives notable growth in capital values, according to Colliers International's latest Asia-Pacific Industrial Market Overview.

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