KUALA LUMPUR: Lagenda Erajuta Sdn Bhd, a subsidiary of leading property developer from Sabah, Sagajuta (Sabah) Sdn Bhd, plans to build a RM70 million international four-star hotel at its 1Gateway project in Klang.

KUALA LUMPUR: Best Western International’s latest property in Malaysia opened its doors in Sabah last month. The international hotel chain’s second property in east Malaysia, the Best Western Sandakan Hotel and Residence, is situated in Bandar Letat Jaya, midway between Sandakan airport and the city centre.

KUALA LUMPUR: Asia-Pacific’s growth in real estate investments is expected to continue for the remainder of the year due to sound domestic demand by occupiers and investors, a relatively strong corporate/household sector and high savings rates.

HONG KONG: Landlords of street-level shops in Hong Kong are demanding big rent increases as leases come up for renewal, forcing tenants to quit in search of cheaper premises.
The rolling rent rises have extended from primary to secondary locations, despite a market outlook that remains clouded by global economic uncertainty.

KUALA LUMPUR: MINES2 Street Mall, the second mall within the Mines Wellness City, was developed due to an increase in demand for more neighbourhood malls in the fast expanding southern corridor of Kuala Lumpur, MINES 2 Sdn Bhd said in a statement recently.

The soft opening of the mall on July 29 saw two out of its five retail levels open, with about 60% space taken up.

KUALA LUMPUR: The Andaman Group’s recently launched The Academia project in Seri Kembangan, Selangor will be used as accommodation for students from University Putra Malaysia (UPM) in Serdang, said the company’s head of sales and marketing.

KUALA LUMPUR: Plantation giant Sime Darby Bhd appears to be going in the right direction after its fiasco last year, posting record profits for FY11 ended June largely boosted by an impressive showing across all business divisions in its final quarter.

KUALA LUMPUR: Megasteel Sdn Bhd says it is disappointed the Ministry of International Trade and Industry (Miti) has decided against implementing the 35% safeguard duty on the import of hot-rolled coil (HRC) the steel giant had petitioned for in June.

KUALA LUMPUR: Property developer Dijaya Corp Bhd’s net profit for 1H11 of RM41.14 million was five times the RM7.61 million booked the previous year, helped by better margins recognised for projects this year as well as a RM20.51 million net gain on fair value adjustment arising from marketable securities.

KUALA LUMPUR: Selangor Dredging Bhd (SDB) has in its pipeline property launches worth almost RM1 billion in gross development value (GDV) in Malaysia and Singapore by the end of 2012. The group expects contribution from Singapore to be at par with Malaysia’s in two years, said group managing director Teh Lip Kim.