The Dubai Mall attracts 30 million visitors since opening

DUBAI: Since opening its doors in November 2008, The Dubai Mall, the world’s largest shopping and entertainment destination, has attracted 30 million visitors, Emaar Properties said in a press release dated Oct 5. The Dubai-based Emaar Properties PJSC is one of the world's largest real estate companies.

Rehda calls for lower stamp duty rates for property transfers in Budget 2010

KUALA LUMPUR: The Real Estate and Housing Developers’ Association (Rehda) Malaysia wants the stamp duty rates for property transfers to be reduced in Budget 2010.

Rehda Malaysia president, Datuk Ng Seing Liong said the association is also asking the government to increase the value range of the properties to be transferred.

US realtors, builders urge extension of tax credit for homebuyers

WASHINGTON: US lawmakers were urged on Oct 7 to extend the US$8,000 (RM27,000) first-time homebuyers credit past its Nov 30 expiration date, even as sales of new homes grew in August to the highest rate in almost a year.

Witnesses at a House Small Business Committee hearing called upon the US Congress to expand the credit to all homebuyers, not just newcomers to the market.

FHA’s US$54 billion in losses may require bailout

NEW YORK: The US Federal Housing Administration, which insures mortgages with low down payments, may require a US bailout because of US$54 billion (RM183 billlion) more in losses than it can withstand, a former Fannie Mae executive said.

US retail centre vacancies rise to 17-year high

LOS ANGELES: Vacancies at US shopping centres rose in 3Q to a 17-year high as unemployment climbed, consumers cut spending and stores closed, real estate research company Reis Inc said.

Rates still need to support recovery

SINGAPORE: Malaysia’s interest rates still need to support the country’s economic recovery, Bank Negara Governor Tan Sri Dr Zeti Akhtar Aziz said on Oct 7.