PETALING JAYA: Nusajaya Consolidated Sdn Bhd (NCSB), a joint venture company equally owned by UEM Land Bhd and United Malayan Land Bhd (UM Land), has acquired a parcel of land in Puteri Harbour in Johor Bahru from Bandar Nusajaya Development Sdn Bhd and UEM Land Bhd for RM16.3 million.

KUALA LUMPUR: Axis Real Estate Investment Trust (Axis-REIT) acquired seven logistics warehouse buildings in Bukit Raja, Klang and Seberang Perai, Pulau Pinang for RM96 million.

In a statement on Nov 19, Axis-REIT Managers Bhd (ARMB) said its trustee, OSK Trustees Bhd, has entered into two sale and leaseback agreements with IDS Logistics Services (M) Sdn Bhd for the deal.

KUALA LUMPUR: Bukit Bendera member of parliament Liew Chin Tong questioned the government’s privatisation deal with Naza TTDI Sdn Bhd involving a mixed development project on 65 acres of land in Jalan Duta, Kuala Lumpur.

The DAP politician called the project "a bad deal for the rakyat" during a press conference at the parliament lobby on Nov 19.

KUALA LUMPUR: The Selangor State Development Corp (PKNS) will be launching its second phase of the Kasturi Idaman apartments in Kota Damansara, Selangor on Nov 21.

HONG KONG: Cheung Kong (Holdings) Ltd Executive Director Justin Chiu said governments shouldn’t control all bubbles and he doesn’t mind a property bubble if it doesn’t burst.

LONDON: The UK commercial-property market started to recover sooner than forecast, according to Land Securities Group Plc, the country’s largest real estate investment trust.

“The market has turned quite sharply and positively, which has surprised us to a degree,” Chief Executive Officer Francis Salway said today on a conference call.

KUALA LUMPUR: The Taman Bukit Mewah, Bukit Antarabangsa landslide that claimed five lives in December 2008 was caused by a combination of factors, which led to a higher level of underground water retention, precipitating in the tragedy, according to a technical report by the Public Works Department.