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Gamuda-WCT JV served with claims for RM101 million

KUALA LUMPUR: Gamuda Bhd-WCT Bhd’s joint venture (JV) in Qatar has been served with a request for arbitration by Bahrain Asphalt Establishment B S C (Closed) (BAE) following a claim totalling QAR109.27 million (RM101.06 million).

London’s Chester square tops UK priciest list again

LONDON: The UK capital’s Chester Square retained the top spot for a second year in an annual list of the most expensive UK addresses as luxury property prices recovered from the housing slump, property researcher Mouseprice said.

Kulim and KPJ to dispose of properties to Al-'Aqar

KUALA LUMPUR: Kulim (Malaysia) Bhd and KPJ Healthcare Bhd, subsdiaries of Johor Corp (JCorp), had proposed to divest their properties to to Al-'Aqar KPJ Real Estate Investment Trust (REIT), according to separate announcements on March 9.

Kulim will divest its Menara Ansar in Johor Bahru, to Al-'Aqar KPJ Real Estate Investment Trust (REIT) for RM105 million.

Kulim accepts JCorp offer to lease land in Johor Bahru

KUALA LUMPUR: Kulim (Malaysia) Bhd has accepted the offer from Johor Corp (JCorp) for the lease of two parcels of land measuring a total of 20,296 sq ft in Johor Bahru for a lease consideration of RM5 million on March 9, the former announced on Bursa Malaysia on the same day.

Get a bungalow that comes with a luxury car at Bandar Enstek

KUALA LUMPUR: Fancy buying a home that comes complete with a luxury car? TH Properties Sdn Bhd’s strategic alliance with Naza Group may well make this possible. The two parties signed an MoU on March 9 to develop 52 units of luxury bungalows in Bandar Enstek, Negri Sembilan.

Compulsory provision of broadband an extra burden: Rehda

PETALING JAYA: The Real Estate and Housing Developers’ Association (Rehda) is concerned that the call for compulsory provision of broadband facilities at all new commercial and residential areas may be punitive to developers.

Ireka to launch Kia Peng project in 2011

PETALING JAYA: Ireka Corp Bhd plans to develop a single-towered, high-end residential project with a gross development value of RM272 million on its newly acquired one-acre tract in Jalan Kia Peng, Kuala Lumpur.

However, the plan is subject to planning approvals, said Ireka group managing director, Lai Siew Wah in a statement on March 9.

Steel prices to increase 10% to 15% in the next few months

KUALA LUMPUR: Steel prices are expected to increase between 10% and 15% in the next few months on the resumption of private and public construction activities after the Chinese New Year celebrations, says OSK Research.

It said average selling prices of steel products escalated since December 2009, but the increase was mainly driven by the cost-push element.

Hock Heng expects RM30 mil order book to increase

KUALA LUMPUR: Hock Heng Stone Industries Bhd's order book, which currently stands at RM30 million, is expected to increase as the company has submitted bids worth RM50 million to supply dimension stones for several property projects.

Stanchart, Stanchart Saadiq increase rates

KUALA LUMPUR: Standard Chartered Bank Malaysia Bhd (Stanchart) and Standard Chartered Saadiq Bhd will increase their base lending rate (BLR) and base financing rate (BFR) respectively from 5.55% to 5.80% per annum, effective March 10.