Best Western Plus Kuching – international hotel operator Best Western Hotels & Resorts’ first foray into Sarawak’s capital – is expected to open in 2018, it said in a press release today.

Real estate negotiators must be prepared to tell their clients to buy properties further away from the city centre, said Axis REIT Managers Bhd head of investments Siva Shanker.

“Currently, we have about 18,500 registered RENs with the board, and we observe about 350 new members registering on a monthly basis,” MIEA deputy president Eric Lim said at a press conference in conjunction with the Malaysian Annual Real Estate Conference (Marec’16) event today.

“Auctions are no longer for just distressed properties. With the right knowledge and skills, non-distressed properties in the secondary market can be sold with style through auctions,” said Malaysian Institute of Estate Agents (MIEA) state branch chairman Lim Boon Ping of Kim Realty.

Mitraland Group plans to officially launch its Melbourne high-rise residential project Esque South Yarra by early April this year in Melbourne.

Sunway Property is currently drawing up plans for its first high-rise residential development at its mixed-use development, Sunway Wellesley in Bukit Mertajam in Seberang Perai on the Penang mainland.

Sold for: RM3,800,000 (RM633.33 psf); Concluded by: Matt Tian of Reapfield Properties (016-2085108); When: December 2015

According to the report by EastMoney.com, the eight pieces of land are in Xianlin East and have a total area of approximately 550 acres.

Luster said its indirect wholly-owned subsidiary Pembinaan LSP Jaya Sdn Bhd (PLSP) had signed a tripartite agreement with landowner Aznel Development Sdn Bhd (ADSB) and Kohama for the proposed development.

About 85% of Karisma apartments – a project by Eco World Development Group Bhd (EcoWorld) – were taken up since its launch on Feb 21 this year, according to the company.