While the worst of the global financial crisis appears to be over, its devastating impact on real estate demand is still reverberating around much of the world.

Things are looking up in the Penang property market. There are definite signs of recovery as more homebuyers return to the market. “I would not call 2Q2009 a slow quarter for the secondary market in Penang. It was also a quarter for top property developers offering attractive packages.

KUALA LUMPUR: Magna Prima Bhd is acquiring two pieces of land, totalling 28,148 sq metres in Petaling Garden from Petaling Garden Sdn Bhd for RM48.48 million.Magna Prima said the first piece of land was 16,790.363 sq. metres (180,736 sq. ft) and the second piece, measuring 11,358 sq. metres (122,260 sq.

The National Economic Policy (NEP) was implemented in 1971. The intentions were honourable and in time, the NEP has proved to be a nurturing ground for increased bumiputera equity in all areas of society and resulted in Malaysia's majority community realising its future and pride.

KUALA LUMPUR: The Hong Kong property market is being pulled in two directions. On one hand, sales are rising but leases are heading south. According to the Colliers International Hong Kong 2Q2009 property report, the market mood is still conservative but investors are snapping up properties to ensure they are in good position to reap the benefits when the global economy recovers.

HONG KONG: Colliers International is offering the residential and commercial site at Nos 396-400 Prince Edward Road West,By E Jacqui Chan of theedgeproperty.com for sale by public tender after being appointed the sole agent by the owner.

SHANGHAI: Encouraged by the recent flow of new government-created liquidity and a re-bounding market optimism in the Asia-Pacific region as compared with the start of 2009, some real estate investors have taken advantage of inexpensive financing costs by acquiring office assets in the hope of future capital gains.

KUALA LUMPUR: Hua Yang Bhd plans a mid to high-end township project with gross development value (GDV) of RM350 million, near its current project in Taman Pulai Indah, Johor.

KUALA LUMPUR: Stockbroking and property development group TA Enterprise Bhd intends to continue its hotel-buying spree, expecting to acquire at least one hotel property a year over the next two to three years

TA Enterprise managing director and chief executive officer Datin Alicia Tiah said today the group also plans to build two hotels in Kuala Lumpur.

KUALA LUMPUR: Hap Seng Consolidated Bhd is buying a 50% stake in Menara Citibank for RM303.5 million from Singapore's CapitaLand Ltd and Amsteel Corporation Bhd.