KUALA LUMPUR: The Malay Chamber of Commerce Malaysia says it is ready to build 100,000 units of affordable homes costing below RM150,00 each in the Klang Valley over the next five years.

Its president Syed Ali Al Attas said the chamber has among its members experienced Class A contractors, architects and engineers who are ready at any time to develop such projects.

KUALA LUMPUR: The Real Estate & Housing Developers' Association Malaysia (Rehda) is confident the property market can be stable amid the gloomy global economic outlook.

Its chairman of finance and investment committee Datuk Ng Seing Liong said the market would probably take a breather after having been quite bullish in 2010 and the first half of 2011.

KUALA LUMPUR: Malaysian Rating Corporation Bhd (MARC) has reaffirmed its ratings on property developer Mega Palm Sdn Bhd's debt note totaling RM150 million.

It said on Wednesday, Oct 5 the ratings involved Mega Palm's bank guaranteed medium term notes (MTN) of up to RM70 million and bank guaranteed commercial papers (CP) of up to RM80 million respectively.

PETALING JAYA: Mah Sing Group Bhd is acquiring a 225.7 acre piece of freehold land in Rawang for RM57 million with plans to develop a RM948 million township.

PETALING JAYA: S P Setia Bhd will need to get the nod from shareholders for its recently proposed Semenyih land purchase in line with the current takeover and merger ruling, said a spokesman for the Minority Shareholder Watchdog Group (MSWG).

KUALA LUMPUR: The Federal Court heard and dismissed with costs of RM30,000 for the application by Metroplex Holdings Sdn Bhd as a result for the stay of execution of the orders of the High Court of Malaya granted on June 28, according to a statement issued by Sunway Group on Wednesday, Oct 4.

HONG KONG: The accelerating march of international retailers into Hong Kong is sparking strong demand for warehousing space, pushing occupancy rates at logistics centres to record levels, and rents almost back to the peaks of 2008.

HONG KONG: Internet service providers are on the prowl for space in which to house data centres, as demand among their customers for data storage rises.

HONG KONG: Leasing and sales of retail properties have slowed in the past two months as market turmoil and steep rises in rents and prices bite, agents say.

KUALA LUMPUR: Malaysian real estate investment trusts (REITs) have proven to be resilient in times of economic and financial uncertainty, said Axis REIT Managers Bhd CEO Stewart LaBrooy.

Speaking after the launch of the Malaysian chapter of the Asia Pacific Real Estate Association (Aprea), LaBrooy said in times of market turbulence, REITs have proven their resilience.