HONG KONG: An entire level of The Landmark in Central is being converted into a shopping destination tailored specifically for men in a bid by owner Hongkong Land to keep the centre's status as one of the city's leading upmarket malls.

90% of the old tenants in the basement level will be replaced in the makeover.

HONG KONG: Aggressive bidding from property developers is expected at tomorrow's auction of three residential sites because of their potential for development into top-priced luxury projects, according to analysts.

The sites could fetch at least HK$4.5 billion (RM1.73 billion), they forecast.

Underscoring their defensive characteristics, earnings results for 1Q2011 for the two largest real estate investment trusts (REIT) on the local bourse were broadly in line with market expectations. No major surprises.

CMMT cmpletes first post-listing acquisition

SHANGHAI: Wharf (Holdings) has introduced serviced apartment concierge services to tenants of its office tower Wheelock Square in Shanghai in a strategy to position itself as a top-end property landlord in the city.

"We have a 24-hour duty manager in the building to serve tenants," said Dave Siu, the general manager of estate management for Shanghai at Wharf China Estates.

KUALA LUMPUR: Banks are raising their lending rates by 30 basis points (bps) on Wednesday, May 11, following Bank Negara Malaysia's (BNM) move to raise key interest rates by 25bps to 3% last week.

Industry sources said all banks are raising their lending rates, led by CIMB Bank Bhd.

KUALA LUMPUR: The Malay Chamber of Commerce Malaysia has asked the government to hand over the RM36 billion Mass Rapid Transit (MRT) project, the country's biggest infrastructure project, to the chamber.

The chamber said it would undertake the mega project in collaboration with other contractors' associations.

LONDON: London's West End overtook Tokyo as the most expensive location in the world in which to rent office space during 2010.

The figures are revealed by Knight Frank's Global Real Estate Markets Annual Review & Outlook 2011, which reviews current conditions in commercial property markets across the globe and surveys office rental levels in 105 international markets.

WELLINGTON: New Zealand house prices were steady in April with the stabilisation that started in Auckland spreading across the country to halt the market slide, government property valuer Quotable Value (QV) said on Tuesday, May 10.

QV's residential house price index fell 1.9% in the year to April, after a 2% decline in the year to March.

KUALA LUMPUR: The recent 25 basis points (bps) hike of the overnight policy rate (OPR) to 3% from 2.75%, effective since July last year, is mainly due to concerns about asset bubble rather than inflationary pressures, said Dr Yeah Kim Leng, chief economist of RAM Holdings Bhd.

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