KUALA LUMPUR: Sunway REIT Management Sdn Bhd, the manager of Sunway Real Estate Investment Trust (SunREIT), expects to increase the value of Putra Place to more than RM1 billion after refurbishment and rebranding exercisesSunREIT acquired Putra Place in Jalan Putra, Kuala Lumpur after it won a bid in a public auction in April this year for RM513.95 million.

KUALA LUMPUR: The Agathians Shelter will be transformed into the country’s first “green” children’s home by Rehda Youth, the youth wing of the Real Estate & Housing Developers’ Association (Rehda).

SHAH ALAM: The green features of the Selangor State Development Corporation or PKNS’ new headquarters in Shah Alam are expected to result in long-term savings in utilities of up to 60%, said its general manager Othman Omar.“We are aiming for a Green Building Index (GBI) platinum rating for the new headquarters Laman PKNS and we have appointed an international consultant to achieve this”, Othman

KUALA LUMPUR: In a move to grow its business overseas, Magna Prima Bhd is acquiring a residential development in Melbourne, Australia for A$26 million (about RM84 million).

KUALA LUMPUR: All 102 units of The Grove semi-detached homes at YTL Land & Development Bhd's Lake Fields township in Sungei Besi were sold in two days last weekend.

KUALA LUMPUR: Property developer Mah Sing Group Bhd will continue to acquire prime land and enter into joint ventures in future, to further boost its expansion strategy.

KUALA LUMPUR: Property development player Merge Housing Bhd has received a conditional takeover offer from its major shareholders in a privatisation exercise worth RM48.3 million.

KUALA LUMPUR: Malaysian Resources Corp Bhd (MRCB) has signed a strategic alliance memorandum of understanding (MoU) with the Korean Teachers Credit Union (KTCU) to collaborate on potential future property projects.

KUALA LUMPUR: TA Enterprise Bhd posted a net profit of RM33.7 million for its first quarter (1Q2012) ended April 20, 2011, up from the RM22.7 million posted a year ago.

Its revenue also increased to RM174.7 million from RM142.3 million last year, it said in a Bursa announcement on Wednesday, April 29.

SHANGHAI: Rising inventory relative to demand and new curbs on lending will force developers to cut home prices on the mainland from the third quarter, according to a report by international property consultant Knight Frank.