Latest

Naim Holdings to venture into Libya

KUALA LUMPUR: Sarawak-based property developer, Naim Holdings Bhd plans to venture into Libya to undertake the construction of several facilities.

Naim is set to sign a memorandum of understanding with the General Board of Privatization & Investment (GBPI) of Libya at 4pm on Friday, March 12.

TA Enterprise injects hotel into property arm

KUALA LUMPUR: TA Enterprise Bhd (TAE) has proposed into inject its hotel in Singapore to 69.66%-owned subsidiary TA Global Bhd (TAG) for RM651.8 million.

TAE had announced previously that it would do so when it acquired the hotel for RM635.8 million last November.

CCM gets involved in Ho Hup’s tussle

KUALA LUMPUR: The ongoing battle for control of beleaguered Ho Hup Construction Co Bhd has taken yet another twist. The company has been served with an ex-parte injunction obtained by the Registrar of Companies that forbids, among others, former managing director Datuk Low Tuck Choy from voting at its extraordinary general meeting (EGM) scheduled for March 17.

China tightens land purchase rules, bans villas

SHANGHAI: China is requiring a down payment for land purchases equal to 50% of a plot’s price and prohibited the supply of land for villas as the government sought to increase affordable housing.

The down payment must be paid within a month of signing the purchase contract, the Ministry of Land and Resources said in a statement on its website late Wednesday March 10.

China cracks down on land development infractions

BEIJING: China will conduct a five-month-long campaign aimed at reining in illegal land speculation and development, state media reported, adding to government efforts to cool the country's heady property market.

HDBSVR: Demand for niche residential products still strong

KUALA LUMPUR: HwangDBS Vickers Research, which recently hosted the DBSV annual property talk by CB Richard Ellis (Malaysia), says demand for niche residential products still strong, but weak for high-end condos.

It said on Friday, March 12 that new office space coming in next two years should be absorbed, but potential overhang beyond 2012.

S P Setia prepares to build in Vietnam’s Binh Duong Province

KUALA LUMPUR: S P Setia’s foray into Vietnam gets an added boost with the announcement on March 11 that the People’s Committee of the Binh Duong Province issued the Investment Certificate for the establishment of Setia Lai Thieu One Member Company Ltd with a charter capital of US$6.5 million (RM21.58 million).

Far Eastern investors wade back into London’s residential market

KUALA LUMPUR: Far Eastern buyers, especially those from Hong Kong, Singapore and Malaysia have been back in force in the London residential property market over the past 12 months, according to London-based Knight Frank LLP head of residential research Liam Bailey in a statement on March 10.

HOS flats resales in Hong Kong reach 12-year peak

HONG KONG: Resales of Home Ownership Scheme (HOS) flats hit a 12-year high, as new entrants to the housing market turned to the government-subsidised units because of sharp increases in private sector property prices.

Sun Hung Kai 1H profit up; upbeat on market outlook

HONG KONG: Sun Hung Kai Properties, Asia's largest developer by market value, reported a 44% rise in first-half underlying profit, beating forecasts, on higher rental income and strong sales fuelled by China's economic stimulus programme.