KUALA LUMPUR: Shares in Malaysia Building Society Bhd (MBSB) surged on heavy volume on Thursday, Oct 6 amid expectations that Budget 2012 will provide a boon to civil servants.

Mah Sing Group Bhd (Oct 6, RM1.77)

KUALA LUMPUR: OSK Property Holdings Bhd will build its second Mirage series of upscale homes in Jalan Yap Kwan Seng near the Kuala Lumpur City Centre (KLCC).

PETALING JAYA: Demand for affordable new homes in the Middle East and North Africa (Mena) region far outstrips supply as the region’s population grows at double the world’s average growth rate.According to a report published by global real estate investment and advisory firm Jones Lang LaSalle, there is a combined shortage of more than 3.5 million affordable dwellings across the major markets w

BANGKOK: Hotellier Best Western International, for the fifth consecutive year, has been awarded the title of Best Mid-Range Hotel Brand during the 22nd Annual TTG Travel Awards 2011.

Since the introduction of the Best Mid-Range Hotel Brand award in 2007, Best Western has been the only company to clinch the title.

PETALING JAYA: Only a limited number of retail, office and serviced apartment units of mixed commercial development Jaya One’s new phase in Section 13, Petaling Jaya, will be available for sale during its launch on Oct 22.Developer Tetap Tiara Sdn Bhd will keep most of the retail units for recurring income while about 70% of the serviced  apartment units and offices as well as some retail lots

KUALA LUMPUR: London-based asset manager London Central Portfolio (LCP) has launched a syariah-compliant London residential property fund.The new fund called London Central Apartments (LCA) is the first syariah-compliant fund investing in the London residential property market. This is LCP’s third fund launched in four years.

LONDON: Prime central business district (CBD) office markets in Europe have bottomed out and are showing trends of rental recovery, predicts Savills, a global real estate services provider.

KUALA LUMPUR: Amanah Hartanah Bumiputera Unit Trust Fund (AHB) has received a second income distribution of 3.25 sen a unit for the period of six months ended Sept 30, 2011.

Pelaburan Hartanah Bhd (PHB) and Mayban Investment Management Sdn Bhd (MIM) said in a joint statement Wednesday, Oct 5 that this would translate into an annualised income yield of 6.5%.

DUBAI: Nearly two years after it was forced to go cap in hand to neighbour Abu Dhabi for a bailout, a chastened Dubai has ringfenced vulnerable assets, forced banks to bolster reserves and deferred debt maturities.