KUALA LUMPUR: UOA Development Bhd becomes the first Malaysia-based property developer to be awarded the Asia-Pacific Builder’s Growth Excellence Leadership Award by Frost & Sullivan. UOA was selected for its impressive growth by demonstrating excellence in capturing the highest compound annual growth rate for the last three years.

MELAKA: Melaka-based developer Hatten Group is looking to revive the once vibrant and buzzing Bunga Raya township with the launch of its RM250 million shopping mall Verdo by the River.The shopping mall will take over the vacant site of the former Melaka Central Market before it was demolished in the 1980s.

SHAH ALAM: I-Bhd, the master developer of the 72-acre (28.8ha) i-City, is embarking on its maiden foray outside Shah Alam in Selangor with the acquisition of a 1.05-acre tract for RM132 million in the Kuala Lumpur city centre (KLCC). The tract was acquired by I-Marcom Sdn Bhd, a subsidiary of of I-Bhd, from Sumuracres Sdn Bhd.

YAN: Felda chairman Tan Sri Mohd Isa Abdul Samad said the corporation’s purchase of the Grand Plaza Serviced Apartments in London was made based on the market price.

“The purchase was made by Felda Investment Corp Sdn Bhd and not Felda Global Ventures Sdn Bhd,” he told reporters after attending Felda Foundation’s “We Care” meeting yesterday.

STOCKHOLM: Sweden’s banks, which are among Europe’s best capitalised, are warning that excess reserves can’t cool a property market at risk of overheating, as they urge the government to address a chronic under-supply of housing.

“Just to increase capital ratios is the wrong tool,” Nordea Bank AB CEO Christian Clausen said on Wednesday in an interview in Stockholm.

KUALA LUMPUR: Malaysia Building Society Bhd (MBSB) aims to increase the revenue contribution of its corporate lending segment to 40% by the end of next year from the current 30%, according to CEO Datuk Ahmad Zaini Othman.

KUALA LUMPUR: Ivory Properties Group Bhd expects to reduce its net gearing ratio with gains from the disposal of four parcels of land to Aspen Vision Development Sdn Bhd.

Ivory has proposed to dispose of the land for a total cash consideration of RM35 million, which in turn, will enhance the group’s cash flow by RM31 million.

KUALA LUMPUR: Two big acquisitions last year pushed IGB real estate investment trust’s (IGB REIT) net profit to RM53.8 million for the third quarter ended Sept 30, a 740.4% surge year-on-year from RM6.4 million previously.

Revenue rose to RM108 million, 8.8 times higher than RM12.3 million a year ago. Earnings per share improved to 1.58 sen compared with 0.19 sen a year ago.

KUALA LUMPUR: Sunway Bhd is joining forces with Japanese property developer Mitsui Fudosan (Asia) Pte Ltd to build two blocks of condominium units at Sunway Geo Residences Development, located within the Sunway South Quay development.

KUALA LUMPUR: Glomac Bhd seeks to maintain its profit margins and sales for the year ending April 30, 2014 despite rising costs, said group managing director and CEO Datuk Fateh Iskandar Mohamed Mansor.