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Property prices in Hong Kong too hot to handle?

HONG KONG: Analysts are divided over whether a mismatch between soaring property prices and stuttering economic growth should be ringing alarm bells for homebuyers in Hong Kong.

While Hong Kong property prices have soared to the second highest in the world, growth in the city's gross domestic product has fallen to the second lowest of 13 countries in the region over the last decade.

Hong Kong prices world's second-highest

HONG KONG: The territory has become the world's second-most expensive city in terms of housing values, topped only by New York, says online research company Global Property Guide.

Mark Mobius' Templeton fund buys 5% stake in KSL Holdings

KUALA LUMPUR: Fund manager Mark Mobius' Templeton Emerging Markets Group has acquired a 5% stake in property developer KSL Holdings Bhd.

The 5% stake was part of the 10% stake or 35.1 million new shares placed out by KSL. The private placement was completed following the listing of the new shares last Friday, March 12.

Ho Hup subsidiary to receive RM265 million from JV with Malton

KUALA LUMPUR: Ho Hup Construction Co Bhd's subsidiary is teaming up with Malton Bhd's unit to develop a piece of freehold land, measuring 243,000 sq m into mixed commercial and residential development.

Under the agreement, Ho Hup said on Wednesday, March 17 the project would comprise of shopping complex, shopoffices, office tower, serviced apartments and hotel.

Thailand expresses interest in MPC's APTEC

KUALA LUMPUR: Thailand's government has expressed interest in participating in Malaysia Pacific Corp Bhd's (MPC) LakeHill Resort development and the RM3 billion Asia Pacific Trade & Expo City (APTEC) in Johor's Iskandar Malaysia.

Nam Fatt drops 35% after triggering PN17

KUALA LUMPUR: Nam Fatt Corp Bhd shares skidded in active trade on March 16 after it was placed under Practice Note 17 of the Main Market listing requirements of Bursa Malaysia Securities Bhd.

US housing construction dips 5.9% in February

KUALA LUMPUR: Housing construction fell in February as blizzards depressed activity in the Northeast and South of the US. The decline highlighted problems facing builders as they struggle to emerge from the worst housing slump in years.

CBRE-EA: Apartment market in the US will improve

BOSTON: The apartment market in the US will improve as vacancy rates decline, according to a report from CB Richard Ellis Group Inc’s Econometric Advisors (CBRE-EA, formerly CBRE Torto Wheaton).

Vacancy rates will drop to a 6.8% average this year, compared with 7.4% in 2009, constituting a 60 basis points (bps) improvement, CBRE-EA said in a statement released on March 11.

PFI for RM10 billion Klang River cleaning project

SHAH ALAM: The RM10 billion Klang River cleaning project, which is part of the river’s RM50 billion rehabilitation and development project, is expected to be funded via a private financing initiative (PFI).

Selangor Menteri Besar Tan Sri Khalid Ibrahim said yesterday (March 16) that a detailed briefing on the project would be held on March 29, 2010.