GEORGE TOWN: A leading property expert said he does not expect property prices in Penang to see a major correction if there is a global downturn because the prices have not escalated as much as in other markets.

Another reason is that demand far outstrips supply, said CB Richard Ellis (CBRE) managing director Allan Soo.

KUALA LUMPUR: Pantai Holdings Bhd plans to expand its foothold in the country by expanding its hospital network through three new hospitals with an total investment of RM720 million.

Chairman Khairil Anuar Abdullah said the three new hospitals, scheduled to be operational within three years, would be in Iskandar Malaysia, Kota Kinabalu and Manjung in Perak.

KUALA LUMPUR: Hotel rates in Malaysia have increased in the first half (1H) of 2011, according to the latest Hotels.com Hotel Price Index (HPI).

Prices rose to an average of US$123 (RM371.46) per room per night in Malaysia, an increment of 6% from 1H 2010.

KUALA LUMPUR: Taylor's University Lakeside Campus has recently received the Gold winner in the Education category at the Malaysian Institute of Architect's (PAM) Awards .

ATHENS: A new property tax may pull Greece back from the brink of default by securing desperately needed European Union/International Monetary Fund (EU/IMF) cash but it also exposes the government's foot-dragging in curing chronic structural ills to exit its debt crisis.

BEIJING: China's bank regulator has urged banks to guard against risks in commercial real estate projects that have been targeted by speculative investment, the China Securities Journal reported on Tuesday, Sept 13, citing an unnamed source.

LONDON/KUALA LUMPUR: UK-based Berkeley Group will be launching in Malaysia its next luxury apartments project in Greenwich, London known as the Quartermaster's Apartments at The Warehouse No 1 Street, at end September. The project launch/ exhibition will be held at the JW Mariott KL from Sept 30-Oct 2.

KUALA LUMPUR: The heavy selldown on the broader market has not dampened investor interest in two property development firms — Eastern & Oriental Bhd (E&O) and Malton Bhd.

Both counters were on the list of most actively traded stocks on Monday, Sept 12, with 17.2 million E&O and 13.4 million Malton shares changing hands.

KUALA LUMPUR: After being being bombarded with queries by the investing public and shareholder activists alike, the Securities Commission (SC) has issued a statement saying it is viewing all "stock transactions by all parties" in Sime Darby Bhd's acquisition of a 30% stake in property developer Eastern & Oriental Bhd (E&O).

KUALA TERENGGANU: The state government through its State Economic Development Corporation is planning to build 13,000 units of houses of various categories by 2013 at a cost of RM800 million.

Its general manager Datuk Osman Muda said since the agency was appointed to manage low cost and affordable housing projects in 2009, it has been involved in 17 projects altogether.