HONG KONG (Feb 23): Swiss investment bank UBS faces a tenfold rent increase in the world's most expensive city for office space, as the main lease on its Hong Kong offices nears its end.

The bank has enjoyed a sweetheart, 10-year lease on space in Two IFC in a deal struck when the city was staggering from one of its worst economic crises.

HONG KONG (Feb 23): Sales in the secondary and primary markets surged to their highest levels in more than a year last week after cuts to lending rates boosted sentiment and released pent up demand.

SHANGHAI (Feb 23): Easier access to credit for developers is unlikely to stop home prices on the mainland from falling, according to analysts.

Their comments follow the decision last week by the People's Bank of China (PBoC) to lower banks' reserve requirement ratios, which is the percentage of deposits they are obliged to keep on reserve, by 50 basis points.

HONG KONG (Feb 23): International property consultants expect to see a significant rise in revenues from their businesses throughout mainland China despite the clouded outlook for the country's residential market this year.

KUALA LUMPUR (Feb 23): Sentoria Group Bhd, the operator of Bukit Gambang Resort City (BGRC) in Kuantan, is targeting high-end visitors to its resort city by undertaking a RM735 million gross development value (GDV) project.

KUALA LUMPUR (Feb 23): Both IJM Corp Bhd and its unit IJM Plantations Bhd posted higher earnings for 3QFY12 ended Dec 31, 2011.

IJM Corp's 3QFY12 net profit rose 5.7% to RM135.2 million from RM127.9 million in the previous corresponding quarter to higher contribution from its construction, industry and plantation divisions.  

KUALA LUMPUR (Feb 22): WCT Bhd has secured a RM331 million contract for a mixed commercial project with a medical centre in Kota Kinabalu.

It said on Wednesday that its unit WCT Construction Sdn Bhd had accepted the contract from Riverson Corporation Sdn Bhd for the project.

KUALA LUMPUR (Feb 22): Tan & Tan Developments Bhd's G Residence, a mixed residential development in Jalan Desa Pandan in Kuala Lumpur, has been 80% taken up since its preview in December last year.

The joint venture project, with a gross development value of RM430 million, is between Tan & Tan and Sin Heap Lee Sdn Bhd via Opt Ventures Sdn Bhd on a 70:30 basis respectively.

KUALA LUMPUR (Feb 22): The Mines Wellness Hotel in Seri Kembangan won the Asean Green Hotel Recognition Award 2012 in Manado, Indonesia for the second year in a row. The award recognises hotels with environmentally-friendly and energy conservation measures in its operations. The Asean Green Hotel Standard is valid through the years of 2012 to 2014.

NAIROBI (Feb 22): Kenya's Parliament plans to extend the timeliness for consideration of proposed land reforms Bills by three months.

National Assembly Speaker Kenneth Marende on Tuesday approved a motion seeking the extension to allow adequate consultations on the Bills. The motion, which will require the support of 148 MPs will be debated Thursday.