LONDON: Recent global concerns over Southern European sovereign debts, downgrade of credit rating for the US, volatility in the stock markets coupled with the recent rioting and looting incidents in London have had a knock on property prices in England and Wales. Prices in London Central however, has bucked the trend and continue to rise.

KUALA LUMPUR: Sime Darby Bhd is acquiring a 30% strategic stake in Eastern & Oriental Bhd for RM2.30 per share or RM766 million to extend its presence in the property development and hospitality sectors, beyond the Greater KL region, specifically in Penang and Johor.

Prime land for development in the central business district (CBD) of Kota Kinabalu, Sabah’s capital city, is not easy to come by. So, when a 2.5-acre parcel came up for auction three years ago, businessman Datuk David Chu seized the opportunity to add to his landbank and acquired the site.

The efforts of homeowners to go green paid off at the recently concluded haven/The Edge My Dream Home Awards 2011. The prize-giving ceremony was held at 1 Utama Shopping Centre (New Wing) last weekend.

KUALA LUMPUR: Ireka Corporation Bhd was in the black in the first quarter ended June 30, 2011, with earnings of RM7.45 million compared with a net loss of RM3.26 million a year, lifted by contribution from its associate, Aseana Properties Ltd.

KUALA LUMPUR: Lagenda Erajuta Sdn Bhd, a subsidiary of leading property developer from Sabah, Sagajuta (Sabah) Sdn Bhd, plans to build a RM70 million international four-star hotel at its 1Gateway project in Klang.

KUALA LUMPUR: Best Western International’s latest property in Malaysia opened its doors in Sabah last month. The international hotel chain’s second property in east Malaysia, the Best Western Sandakan Hotel and Residence, is situated in Bandar Letat Jaya, midway between Sandakan airport and the city centre.

KUALA LUMPUR: Asia-Pacific’s growth in real estate investments is expected to continue for the remainder of the year due to sound domestic demand by occupiers and investors, a relatively strong corporate/household sector and high savings rates.

HONG KONG: Landlords of street-level shops in Hong Kong are demanding big rent increases as leases come up for renewal, forcing tenants to quit in search of cheaper premises.
The rolling rent rises have extended from primary to secondary locations, despite a market outlook that remains clouded by global economic uncertainty.

KUALA LUMPUR: MINES2 Street Mall, the second mall within the Mines Wellness City, was developed due to an increase in demand for more neighbourhood malls in the fast expanding southern corridor of Kuala Lumpur, MINES 2 Sdn Bhd said in a statement recently.

The soft opening of the mall on July 29 saw two out of its five retail levels open, with about 60% space taken up.