KUALA LUMPUR: Ivory Properties Group Bhd’s proposed acquisition of the property assets of the abandoned Plaza Rakyat project in Kuala Lumpur for RM400 million will be delayed for another three months.

A DREAM home in Portugal is becoming a golden ticket for wealthy Chinese, where property assets can also yield a prized residence permit allowing them to travel and do business across Europe.

JAKARTA: Lippo Group expects property sales growth to slow to 15% in Indonesia next year, down from 25% to 30% in 2013 and in line with a slowdown in the economy, the chief executive of Indonesia’s biggest property developer by assets said.

HONG KONG: Moody’s Investors Service said Guangzhou R&F Properties Co Ltd’s acquisition of six land parcels in Johor Baru for 8.5 billion yuan (RM4.5 billion) has negative implication for its credit profile.

HOW much is a rundown, 1-storey link house on a narrow road and facing noisy motor workshops in Section 17 worth? A cool RM635,000, apparently.

FOLLOWING the strong take-up of Pandora Serviced Residences, the first phase of Tropicana Metropark’s residential component, Tropicana Corp Bhd (formerly known as Dijaya Corp Bhd) is all set to launch the second phase — Paloma Serviced Residences — later this month.

THE Klang Valley hospitality market performed reasonably well despite election jitters, thanks to a healthy growth in international tourist arrivals in the first six months of the year, says a report by Zerin Properties.

IT has been a little over a year since United Malayan Land Bhd (UMLand) was taken private. According to group CEO Charlie Chia Lui Meng, “We have progressed by leaps and bounds since then. In fact, the Johor market is so hot that we are trying to get more products into the market as soon as possible.”

BANGKOK: Shares in Thailand’s property firms rallied on Wednesday after the central bank unexpectedly cut rates, lifting the laggard sector gripped by political woes and a weak economic backdrop.

The property sub-index jumped 3.2%, the best performing sector on the Thai bourse. It had fallen around 11% this month to Tuesday, underperforming the 5.8% loss of the broader market.

PETALING JAYA: Four out of six towers in the first phase of Tropicana Corp Bhd’s joint venture project with Ivory Properties Group Bhd, Penang Worldcity in Penang have sold 85% since the preview in Febuary. Named Tropicana Bay Residences, the first phase of the waterfront integrated development has a gross development value (GDV) in excess of RM835 million.