KUALA LUMPUR: OSK Property Bhd executive director Ong Leong Huat and Land Management Sdn Bhd have proposed to acquire the outstanding 73.74% stake in the property company in a deal valued at RM122.41 million.

KUALA LUMPUR: Dijaya Corporation Bhd reported net profit of RM18.54 million in the first quarter and announced projects with gross development value (GDV) of RM3.5 billion over the next two years.

It said on Friday, May 27, that its earnings jumped 489% from RM3.15 million a year ago, boosted by higher profit margin contributed by its new property development launches.

KUALA LUMPUR: Boustead Holdings Bhd earnings rose 24.3% to RM112.20 million in the first quarter ended March 31, 2011 from RM90.20 million a year ago, boosted by the plantations division.

SHAH ALAM: Conglomerate DRB-Hicom Bhd posted higher pre-tax profit of RM701.5 million for FY11 ended March 31, an increase of 6.6% y-o-y on the back of higher revenue of RM6.8 billion versus to RM6.31 billion in the previous year.

Net profit was largely flat at RM472.5 million or 24.44 sen a share compared with RM472.3 million a year ago.  

KUALA LUMPUR: TA Global Bhd has begun releasing the first residences for sale at its 48-acre Damansara Avenue project in Bandar Sri Damansara.It saw a 50% take-up for the first release of Azelia Residence serviced apartments during a priority preview on May 7.

LONDON: Just under 60% of new-build property sold in central London between November 2010 and April 2011 went to Asian buyers, according to a new Knight Frank study.

SAN FRANCISCO: As more cities across the nation experience double dip in home prices, about 54% of US adults believe recovery in the housing market will not happen until 2014 or later, according to an online survey from April 15 to 19.In a previous survey conducted six months ago, 42% of American adults said they thought the market would turn around by 2012 or had already turned around.

KUALA LUMPUR: The proportion of foreign buyers for both new and secondary private homes in Singapore has reached a new high of 16% in 1Q11 to overtake the previous high of 15% recorded in 4Q07, according to DTZ Research.Malaysia, Indonesia, China and India made up 75% of the total transactions by foreigners and permanent residents in 1Q11.

KUALA LUMPUR: Singapore-based Azea Property Investment (API) has teamed up with local partner Dot Greenland Sdn Bhd to undertake the development of a commercial complex in the heart of George Town, Penang. The freehold project called Anson Cube will be on a 28,000 sq ft site.

HONG KONG: The Hong Kong residential market is in a robust upward trend with housing sites fetching high prices in recent land auctions and individual residential developments registering record high transactions.