KUALA LUMPUR: Singapore-based engineering company-turned-property developer United Engineers Ltd (UEL) has achieved a take-up rate of 60% to date for its first development in Malaysia called The Manhattan Residen 61 Raja Chulan.

WASHINGTON: US retail sales unexpectedly rose in April as households bought automobiles, building materials and a range of other goods, pointing to underlying strength in the economy.

The Commerce Department said yesterday retail sales edged up 0.1% after a revised 0.5% decline in March.

SHAH ALAM: Thailand-based retail conglomerate, Central Group, plans to create 300 retail outlets at its shopping mall project at I-City in Shah Alam, Selangor, which it is building jointly with I-Bhd.

Yesterday, Central Pattana Public Co Ltd (CPN), the retail development arm of Central Group, signed a 60:40 shareholders’ agreement with I-Bhd to develop the shopping mall.

KUALA LUMPUR: Pasdec Holdings Bhd’s wholly owned subsidiary, Pasdec Bina Sdn Bhd, has received a letter of award for the construction of a nine-storey private specialist hospital in Kuantan, Pahang for a contract sum of RM57.95 million.

KUALA LUMPUR: Ho Hup Construction Company Bhd is one step closer to exiting PN17 status, having received the nod for its financial regularisation plan yesterday from Bursa Malaysia.

KUALA LUMPUR: The long drawn out legal battle between a private company belonging to Datuk Desmond Lim Siew Choon of Malton Bhd and Johor Corp (JCorp) for the Pusat Bandar Damansara (PBD) land appears to have moved closer to a settlement.

KUALA LUMPUR: A prime 1.16-acre (0.47ha) freehold tract on Jalan Sultan Ismail, believed to be owned by Dijaya Corp Bhd, is up for sale for RM3,500 psf. According to sources, the asking price of RM3,500 psf is on par with the price trend in the city centre. Based on the size and location, sources believe the tract belongs to Dijaya.

CYBERJAYA: Cyberview Sdn Bhd, the landowner and lead developer of Cyberjaya, will invest RM400,000 this year in “low hanging fruit” initiatives to shrink the smart city’s carbon footprint.

PETALING JAYA: About 500 readers of The Edge weekly flocked to The Edge Investment Forum on Real Estate 2013 at the Royale Bintang Damansara in Mutiara Damansara last Saturday for an opportunity to learn more about the current property market and investment trends — directly from industry experts.

KUALA LUMPUR: Malaysia Building Society Bhd (MBSB) hopes to obtain the necessary approvals from Bank Negara Malaysia (BNM) to become a full-fledged banking institution by the end of this year.