SEOUL (Dec 7): South Korea on Wednesday unveiled steps to boost the housing market, including the abolition of punitive capital gains taxes on multiple home owners, as Asia's fourth-largest economy takes a hit from the global slowdown.

HONG KONG (Dec 7): Office rents in Hong Kong and Singapore are set to fall, brokers say, as the cities' markets start to reflect the slowdown in trade and investment caused by the eurozone debt crisis.

SHANGHAI (Dec 7): The property tax pilot project under way in Shanghai and Chongqing will eventually be expanded to other cities, a finance ministry official told local media.

KUALA LUMPUR (Dec 7): Pavilion Real Estate Investment Trust (Pavilion REIT), Malaysia's largest retail real estate investment, is seeking opportunities to expand its assets in Penang, Johor and the Klang Valley.

KUALA LUMPUR (Dec 7): The Kampung Bharu Development Corporation Bill 2011 will explain in detail the functions and roles of the corporation in the redevelopment of Kampung Baru in the capital, said Federal Territories and Urban Well-being Minister Datuk Raja Nong Chik Raja Zainal Abidin.

KUALA TERENGGANU (Dec 7): The Special Area plan or "Rancangan Kawasan Khas-RKK" for 2008 to 2015 has identified 29 main projects for the Tepoh-Batu Enam area, the Terengganu State Assembly was told on Wednesday.

KUALA LUMPUR (Dec 7): UEM Builders Bhd, the main contractor to build 4,000 affordable houses under Brunei's National Housing Scheme, has reported positive progress in construction work.

It said the mega housing project in Mengkubau, Mentiri, is currently 22.81% complete, ahead by 2.56% from the original schedule.

PETALING JAYA (Dec 7): Ekovest-MRCB JV Sdn Bhd, a 60:40-joint venture between Ekovest Bhd and Malaysian Resources Corp Bhd (MRCB), has finally been appointed the project delivery partner (PDP) of the RM2.2 billion Klang river rehabilitation and beautification project, known as the River of Life project.

KUALA LUMPUR (Dec 7): GuocoLand (M) Bhd is buying nine land parcels measuring 18.9ha in Cheras for RM107.87 million or RM53 per square foot (psf) to be satisfied via cash.

KUALA LUMPUR (Dec 6): LEGOLAND Malaysia — the first such theme park to open in Asia-Pacific and the sixth in the world — is on track for its 2012 opening in Nusajaya, Johor, it said in a statement on Tuesday.