KUALA LUMPUR (Mar 15): An allocation of RM3.26 million has been approved to facilitate upgrading and widening works on Jalan Pantai Permai in Pantai Dalam, said Federal Territories and Urban Wellbeing Minister Datuk Seri Raja Nong Chik Raja Zainal Abidin.

KUALA LUMPUR (Mar 15): WCT Bhd will pay a cash consideration of RM450 million to acquire the entire equity interest in Timor Barat Properties Sdn Bhd, which has three parcels of land totalling 23ha in the matured Overseas Union Garden (OUG) area of Kuala Lumpur.

KUALA LUMPUR/VANCOUVER (Mar 15): TA Global Bhd has entered into an "umbrella deed" with Birkbeck Trust to jointly build a hotel and residences in Vancouver, Canada. The estimated gross development value (GDV) of the a project is C$496.4 million (RM1.5 billion).

KUALA LUMPUR (Mar 15):  The My First House Scheme attracted a total of 1,624 applications as at the end of January 2012, said Bank Negara Malaysia (BNM).

In a statement on Wednesday, the central bank said of 1,624 applications, 562 were withdrawn due to multiple applications to various banking institutions.

SINGAPORE (Mar 14): Indonesia's real estate developers are likely to face stiffer tests of their working capital management capabilities over the next year as liquidity pressures intensify.

That is according to a report by Standard & Poor's (S&P) Ratings Service entitled "Sizing Up The Credit Risks For Developers In Indonesia's Buoyant Property Market".

PETALING JAYA (Mar 14): Sunway REIT Management Sdn Bhd (SunREIT) plans to invest an estimated RM200 million to rejuvenate Sunway Putra Mall, said CEO Datuk Jeffrey Ng.

The investment will go towards renovating the mall and improving accessibility, he told reporters at a press briefing on Wednesday.

MACAU (Mar 14): New offerings are expected to release pent-up demand and help lift Macau home sales to their highest levels in nearly a year, estate agents say.

HONG KONG (Mar 14): After making the biggest investment decision of her life to buy a flat in Hong Kong, Palanka Luk is now wrestling with another challenge — what type of mortgage should she choose?

"A prime-linked rate, or a loan linked to the Hong Kong interbank offered rate (Hibor)?" mused the single office worker in her mid-30s.

HONG KONG (Mar 14): A growing number of deals in major housing estates are being done at record prices as owners seek to cash in on a recovery in market sentiment, property agents say.

We believe that Magna Prima Bhd’s (84 sen) earnings will continue to improve over the next few years, underpinned by the company’s roster of new property developments.
The company’s earnings results for 4QFY11 and full-year FY11 registered improvement over the previous year, albeit at a slower than expected pace.