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IRDA eyes at least RM20b in annual investment

KUALA LUMPUR (Mar 20): The Iskandar Regional Development Authority (IRDA) has targeted to achieve at least RM20 billion in committed investments annually until 2018, and at least RM25 billion a year from 2019 to 2025, in order for it to achieve a cumulative RM383 billion in committed investments in Iskandar Malaysia by 2025.

PNB and Liew's stake in S P Setia reaches 78.95%

KUALA LUMPUR (Mar 20): Permodalan Nasional Bhd (PNB) and Tan Sri Liew Kee Sin together with parties acting in concert (PAC) have increased their holdings in S P Setia Bhd to 1.52 billion shares or 78.95% as at on Monday, the final closing date for the takeover offer.

Tesco's Thai property fund up 10% on debut

BANGKOK (Mar 20): Shares in Tesco Pcl's Thai unit's property fund, Tesco Lotus Retail Growth Freehold and Leasehold Property Fund, opened at 11.4 baht (RM1.13) on their market debut on Monday, 9.6% higher than the offer price of 10.4 baht.

Treasury to unveil US$25b profit on mortgage bonds

WASHINGTON (Mar 20): The Treasury Department may announce yesterday that taxpayers have made a US$25 billion (RM76.3 billion) profit on mortgage bonds purchased at the height of the meltdown, the Wall Street Journal (WSJ) reported.

Fannie Mae's property sales generate interest

NEW YORK (Mar 20): Some big investors have shown interest in buying foreclosed properties being sold in bulk by Fannie Mae, the largest US home funding source, the Wall Street Journal (WSJ) said, citing people familiar with the process.

Home sales slow as buyers await poll outcome

HONG KONG (Mar 20): The prospect of changes to the city's property policy under a new chief executive has slowed home sales, as the market seeks to gauge the impact a new administration may have on property prices.

With Chief Executive Donald Tsang Yam-kuen barred from seeking a third term under the Basic Law, three contenders are vying for the top job at next Sunday's election.

Rising property defaults expected

KUALA LUMPUR (Mar 19): The completion of property developments under the low deposit incentive schemes, coupled with Bank Negara Malaysia's (BNM) changes in bank loan computations from gross to net income, may result in higher rates of defaults, according to industry observers.

PIHEX to debut at 1Borneo Hypermall in KK

KOTA KINBALU (Mar 19): The inaugural Property Investment and Home Expo (PIHEX), which is set to take place from June 7-10, will make its debut at 1Borneo Hypermall in Kota Kinabalu, Sabah.

China home prices fall for fifth straight month

BEIJING (Mar 19): Chinese home prices fell in February from January for a fifth consecutive month and are expected to continue heading south in coming months, underlining the success of Beijing's long campaign to cool property market speculation.

China shares end up 0.2%, above key support

SHANGHAI (Mar 19): China shares ended up 0.2% in see-saw trade on Monday, with strength in small-cap shares outweighing weakness in financial and property stocks.