HONG KONG: Home sales in the Hong Kong secondary market rebounded last week as owners cut asking prices in reaction to volatility on stock markets triggered by fears of global recession.

In all, 229 transactions were recorded in 50 major estates for the week of August 15 to 21, up 18 per cent from the previous week, according to data from Ricacorp Properties.

HONG KONG: The government has been urged to review its town planning policy after a property consultancy found nearly 40 per cent of plots in Kowloon Tong - primarily zoned for residential use - have been used for educational or commercial purposes.

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.

HONG KONG: Closer economic co-operation between the mainland and Taiwan has prompted mainland developer Vantone Real Estate to test mainland interest in island real estate.

The Beijing-based developer auctioned, off plan, a unit at its Taipei development, Vantone Taipei 2011, to a Shanghai buyer for 5.81 million yuan (HK$7.09 million), or 40,000 yuan per square metre.

KUALA LUMPUR: Selangor Dredging Bhd (SDB) plans to launch several new development projects in Malaysia and Singapore with gross development value amounting to RM1 billion by the end of 2012.

It will start with the Hijauan on Cavenagh in Singapore in Sept 2011, undertaken by SDB Asia Ltd, the group's subsidiary in Singapore.

KUALA LUMPUR: UEM Land Holdings Bhd net profit for the second quarter ended June 30, 2011 more than doubled to RM88.93 million from RM40.35 million a year earlier due mainly to an increase in its revenue.

The company said on Thursday, Aug 25 that its revenue for the quarter surged to RM509.40 million from RM88 million in 2010.

KUALA LUMPUR: The government has ordered a freeze on all transactions of government-owned land near the Klang River in the city centre pending efforts to clean up the river, according to Kuala Lumpur mayor Tan Sri Ahmad Fuad Ismail.

KUALA LUMPUR: Nadayu Properties Bhd will launch three major property developments with a combined gross development value (GDV) of over RM1.3 billion within the next few months. The projects comprise mixed and residential developments in the Klang Valley, Selangor, and Penang.

KUALA LUMPUR: IJM Corp Bhd is positive on building up its construction order book for FY12 ending March 31 on the back of new infrastructure projects rolling out this year.

GEORGE TOWN: The Penang government has increased its allocation from 150 acres (60ha) to 200 acres in Batu Kawan to build at least 7,300 quality affordable residential units priced between RM72,500 and RM220,000.