KUALA LUMPUR: The Malaysian government and the Employees Provident Fund (EPF) will be forming a joint-venture to promote the development of 3,000 acres of land in Sungei Buloh into a new hub for the Klang Valley.

Several parcels of land in Jalan Stonor, Jalan Ampang, Jalan Lidcol, all in Kuala Lumpur have also been identified to be tendered out for development by the private sector.

KUALA TERENGGANU: A Bangladeshi labourer died while four of his countrymen were injured, one seriously, when the steel scaffolding of Universiti Malaysia Terengganu's (UMT) Oceanography and Aquaculture Institute building collapsed this afternoon (March 29).

KUALA LUMPUR: S P Setia Bhd is launching a new branding campaign in partnerhip with Malaysia's community airlines Firefly on Wednesday March 31.

The one-year campaign will feature the property developer’s logo branded on the exterior and interior of the fleet of seven Firefly aircraft currently in service.

KUALA LUMPUR: Bolton Bhd is acquiring a 5.5-acre land along Jalan Peel in Kuala Lumpur.

Bolton LYL Sdn Bhd, its indirect unit, entered into a conditional sale and purchase agreement with Intrapuri Sdn Bhd on March 29 to buy the freehold tract for RM39 million or RM162.43 psf, the company said in a filing to Bursa Malaysia on the same day.

PETALING JAYA: The steel market is expected to trend upward this year, according to a report by consultancy company operating in the steel sector worldwide, MEPS (International) Ltd.

The latest business in the US has been settled at marginally higher transaction values than in February. Producers are pressing for further increases next month, citing their growing input expenditure.

PETALING JAYA: Singapore-based real estate capital management company, Mapletree Investments Pte Ltd has acquired an industrial property, the IXINAL Monzen-Nakacho, from ITOCHU Corp and ITOCHU Property Development in Tokyo, Japan.

HONG KONG: Moody's Investors Service is maintaining its stable outlook for China property developers over the next 12 months and says that while prices will decline, the market is not overly inflated.Moody's vice president and senior credit officer Peter Choy said on Monday, March 29 that currently, numerous factors -- many at opposing ends of the spectrum -- are at play on the China real estat

BEIJING: China is speeding up the process of launching a property tax, a director of the Ministry of Land and Resources said on March 29.

The official, at a briefing for reporters, stopped short of saying that a tax would be introduced.

Debate on the merits of a tax, which would be levied annually on the value of a property, has intensified in recent months.

KUALA LUMPUR: Lembaga Tabung Haji expects to invest more in real estate in Mecca and Madinah in the next one to two years in its move to keep the cost of Hajj performance at affordable rates.

Its Group Managing Director and Chief Executive Officer, Datuk Ismee Ismail, said the group has been seriously looking at investment opportunities there since 2008.

PETALING JAYA: S P Setia Bhd has acquired a 46,715 sq ft piece of land in Melbourne’s Central Business District (CBD) for RM92.4 million on March 29.