PETALING JAYA: Setia International Ltd, a wholly owned subsidiary of S P Setia Bhd, has obtained the approval from Australia’s Foreign Investment Review Board for the purchase of land measuring approximately 1.07 acre in Melbourne’s Central Business District (CBD).

KUALA LUMPUR: The former Nestlé House, now known as Quattro West (pictured) in Petaling Jaya, has won the “Best Redevelopment Malaysia” category at the coveted Asia Pacific Commercial Property Awards 2010 held in Hong Kong recently.

KUALA LUMPUR: A total of 17 applicants have been pre-qualified as main contractors (MCs) and 15 applicants pre-qualified as nominated sub-contractors (NSCs) for the proposed Light Rail Transit (LRT) extension project of the Kelana Jaya and Ampang Lines, according to Syarikat Prasarana Negara Bhd (Prasarana) in a press statement on April 28.

HONG KONG: The late Nina Wang Kung Yu-sum's biggest property folly is back in business after spending eight years in mothballs amid market upheavals and a court battle over the eccentric billionaire's fortune, according to the South China Morning Post.The Chinachem Charitable Foundation had on Tuesday offered flats in the 129 Repulse Bay Road residential tower for lease, marking its first step

KUALA LUMPUR: Selangor Properties Bhd expects bigger contribution from the education division as it seeks to expand its presence locally and abroad by building campuses and also via the franchise arrangement.

LONDON: Property returns in the UK rose to 6.2% in 1Q2010, according to the latest Jones Lang LaSalle (JLL) UK Quarterly Property Index.

Returns were boosted by the 4.5% increase in capital values, which were driven by falling yields across all three major sectors, said JLL.

HONG KONG: Will the trend to virtual workplaces empty office properties and lead to owners going downmarket to find new tenants?

Prospects of a sea change in the commercial property market are real, judging from the report by business centre operator Regus and research firm Unwired.

New technology will have a dramatic effect on how and where work is done, the report concludes.

HONG KONG: The redevelopment of old buildings in Hong Kong is cutting down the supply of "cage homes" in centrally located areas and forcing up rents for the unemployed and underemployed who can least afford to meet higher living costs.

HONG KONG: Home sales in the secondary market here fell 25% last week as buyers turned cautious and the government announced cooling measures.

There were 377 preliminary sales and purchase agreements signed at 50 major housing estates in Hong Kong from April 15 to 19, according to Ricacorp Properties. That was 25% fewer than the previous week.

HONG KONG: Swire Properties, which aims to raise up to US$2.7 billion (RM8.65 billion) from a Hong Kong initial public offering, has tapped Bank of China Group Investment for US$100 million worth of shares, a source close to the deal said on Wednesday, April 28.