PETALING JAYA: Asian investors have benefited from new-build residential investments in London as private tenancies in the city have increased significantly over the last decade, according to a research published by UK property consultant Cluttons.For the last decade, there has been an 80% increase in private tenancies in London and buy-to-let investors are capitalising on the rapidly expanding

THOSE familiar with Jalan Klang Lama (or Old Klang Road) in Kuala Lumpur will know that this area was synonymous with traffic jams and flooding in the not-too-distant past. Today, things have changed — there is a six-lane carriageway, less flooding thanks to the deepening of the Kerayong River, and evidence of development and prosperity in the surrounding neighbourhoods.

Property developers, investors and homeowners are growing increasingly concerned about the government’s frequent and strident statements on excessive froth in the property market. Does this mean that everyone else can rest easy?

KUALA LUMPUR: Protasco Bhd has won a tender from Desaru Development Holdings One Sdn Bhd for construction works worth RM50.4 million.

In a filing with Bursa Malaysia, the infrastructure development provider said its subsidiary HCM Engineering had received a letter of acceptance from Desaru Development.

KUALA LUMPUR: Paramount Corp Bhd (PCB) will not be expecting much growth in earnings amid a slowdown in the company’s property launches this year, said executive deputy chairman and group CEO Datuk Teo Chiang Quan.

KUALA LUMPUR: Naim Indah Corp Bhd has proposed a renounceable rights issue after a proposed reduction of par value to raise fresh funds for its property development costs.

Naim is buying a property development company from its substantial shareholder Datuk Raymond Chan for RM39 million. Chan currently holds 8.73% equity interest in Naim.

DATUK Alan Tong, chairman of Bukit Kiara Properties Sdn Bhd, does not need much introduction, especially in the real estate fraternity. Renowned for transforming a rubber estate on the fringe of Kuala Lumpur into what is now the affluent township of Mont'Kiara, Tong became known as "KL's Condo King" in the 1990s.

PETALING JAYA: Housing has picked up in the US and with historically low prices and interest rates, this seems like a good time to buy into the US property market. It is certainly attracting investors from around the world, including Asia.

BETONG (Sarawak): The federal government will allocate RM30 million to continue with the bumiputera customary rights land perimeter survey in Sarawak next year, Prime Minister Datuk Seri Najib Razak said yesterday.

He said the government has previously allocated RM60 million for the native customary rights (NCR) land survey in the state to determine the ownership of the land.

KUALA LUMPUR: The Johor property market will not likely be affected by the proposed tax rate hike on properties owned by foreigners, say analysts.

Last week, Johor Menteri Besar Datuk Mohamed Khaled Nordin said the state government would impose higher taxes on properties owned by foreigners. The new tax rates are still being discussed and would be imposed by the year-end.