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Homes cheaper by the truckload

COLUMBUS (Mar 8): When Vena Jones-Cox entered the foyer of the once-grand Colonial-style home in Columbus, Ohio, she stepped on to a wooden floor that was so mouldy and mushy it actually wiggled.

As Cox proceeded down the basement stairs, they disappeared from underneath her.

"I found myself lying on the floor, staring at a dead rat," she said.

Sino Land bets HK$19m on sleepy Peng Chau

HONG KONG (Mar 8): For the first time in more than a decade, a residential site on the island of Peng Chau off the northeastern coast of Lantau Island has been bought by a major developer.

Investors snap up grade B space

HONG KONG (Mar 8): Easier access to credit has brought property investors back to the market in search of retail stores in non-prime locations and grade B offices.

Developers eye Ap Lei Chau, Sai Kung sites

HONG KONG (Mar 8): Two residential sites open for bidding at Ap Lei Chau and Sai Kung are expected to draw keen interest from developers and could net the government up to HK$2.33 billion (RM893.45 million), say surveyors.

"The sites are well situated and the one on Ap Lei Chau offers a sea view," said Midland Surveyors director Alvin Lam Tsz-pun.

HK performs worst, says world cities index

HONG KONG (Mar 8): Hong Kong's residential market was the world's worst performer in the second half of last year, as measured by the Savills World Cities Index.

The index, which analyses accommodation costs in 10 key locations, was released by Savills yesterday and showed that Hong Kong home values fell by 3.4% over the six-month period.

Dijaya to launch RM1.6b projects

PETALING JAYA (Mar 8): Dijaya Corp Bhd, which is growing its size with the injection of new assets, aims to launch some RM1.6 billion worth of projects this year.

UOB Kay Hian said in a note on Wednesday a 10% to 15% earnings growth at Dijaya over the next two years is "achievable" given the healthy unbilled sales of close to RM600 million.

Hua Yang plans pedestrian mall at BUSI

SERI ISKANDAR (Mar 7): Bursa Malaysia main board-listed Hua Yang Bhd has unveiled plans for a pedestrian mall at the 838 acre resort style township Bandar Universiti Seri Iskandar (BUSI) in Perak.

PPB to expand cinema and property divisions

KUALA LUMPUR (Mar 7): Billionaire Tan Sri Robert Kuok's PPB Group Bhd has earmarked close to RM250 million to grow its property and cinema-related businesses, in a longer-term bid to cut earnings reliance on its 18.3% associate and largest earnings contributor Wilmar International Ltd.

Hock Seng Lee acquires land for Samariang project

KUALA LUMPUR (Mar 7): Hock Seng Lee Bhd (HSL) has entered into a sale and purchase agreement with Projek Bandar Samariang Bhd for the acquisition of a 275.5-acre (110.2ha) piece of leasehold land near Kuching, Sarawak for RM25.55 million cash.