HONG KONG: Chinese property developer Poly (Hong Kong) Investments Ltd (Poly HK) said its contracted sales rose 62% in the first nine months to 12.2 billion yuan (RM6 billion) despite Beijing's tight credit policy to slow the country's rampant property market.

PUTRAJAYA: Construction of the Klang Valley MY Rapid Transit (KVMRT) is expected to begin in the second or third quarter of next year, MRT Co chief executive officer Datuk Azhar Abdul Hamid said on Wednesday, Oct 12.

KUALA LUMPUR: The Ministry of Housing and Local Government and the Ministry of Natural Resources and Environment will amend the Strata Title Act 1985 and the Building and Common Property Act 2007 to protect the interests of strata property owners.

KUALA LUMPUR: Federal Territories and Urban Wellbeing Minister Datuk Raja Nong Chik Raja Zainal Abidin reiterated that Kampung Baru will only be developed if the landowners and heirs agree to it.

He said although Kampung Baru Development Corporation Bill 2011 was passed by Dewan Rakyat last week, the approval of landowners and heirs is more important to the government.

HONG KONG: Hong Kong- and Shanghai-listed Beijing North Star Co Ltd is seeking a one billion yuan to 1.5 billion yuan (RM493.08 million to RM739.63 million) three-year financing for a commercial property project in Changsha, capital of Hunan province, banking sources said.

SHANGHAI: China's southern city of Foshan said it would temporarily suspend the relaxation of home purchase restrictions just hours after it became the first in the country to announce the measures.

HONG KONG: China Overseas Land & Investment Ltd, the country's largest property developer by market value, said sales in September totalled HK$6.6 billion (RM2.67 billion), down 18% from a year earlier.

The fall marked a second consecutive year-on-year decline in monthly sales revenue.

HONG KONG: Hong Kong Chief Executive Donald Tsang said on Wednesday the government would resume the construction of subsidised housing as part of measures to help low-income earners and soothe public discontent over sky-high property prices.

HONG KONG: The number of major property deals completed in the third quarter in Hong Kong dropped more than 55% compared with the previous quarter. Investor appetite was soured by uncertainties over the global economy and tighter credit on the mainland, according to property consultant DTZ.

HONG KONG: An admission by Chief Executive Donald Tsang Yam-kuen that the government has made mistakes in the housing market has the industry expecting that Wednesday's policy address will contain radical measures to increase land supply.