KUALA LUMPUR: Ireka Corp Bhd's wholly-owned subsidiary Ireka Engineering & Construction Sdn Bhd (IECSB), has been awarded a RM232.75 million contract by Transmission Technology Sdn Bhd.

In a filing with Bursa Malaysia, Ireka said the contract was for a package of works for the proposed offices and hotel development on part of Lot 203, Seksyen 72 (Lot G) in Kuala Lumpur.

DUBAI: Saudi King Abdullah's bumper cash pledge to build more homes shows the kingdom's intent to address vast undersupply in the world's biggest oil exporter, but there is no quick fix for its property woes.

SINGAPORE: Strong demand from mainland Chinese buyers helped Singapore private home prices edge higher in the first quarter (1Q) of 2011, despite government efforts to cool the market, property consultants Jones Lang LaSalle (JLL) said on Wednesday, Mar 30.

PETALING JAYA: Mah Sing Group Bhd managing director and chief executive Tan Sri Leong Hoy Kum has been honoured with the Entrepreneur of the Year Award at the BrandLaureate Award 2010-2011 organised by the Asia Pacific Brands Foundation.

At the same ceremony, Mah Sing was also named Best Brand in Property for the third consecutive year.

KUALA LUMPUR: The InterContinental Kuala Lumpur is poised to unveil its soon-to-be refurbished Japanese restaurant by end-June, said general manager Adam McDonald.

Tatsu, formerly known as Benkay, will be closed for renovations in April, he said on Wednesday, Mar 30.

According to earlier reports, the renovations for the 147-seat restaurant will cost around RM3 million.

KUALA LUMPUR: Malaysia will need to raise the number of hotel rooms in the country by about 50% to cater for a targeted growth in tourist arrivals to 36 million by 2020, said Deputy Minister of Tourism Datuk Dr James Dawos Mamit.

HONG KONG: German luxury goods company MCM Products, which took over home-grown retailer Episode's shop to open its flagship store in Central, said the strategic position of Hong Kong as a gateway to China would outweigh the cost of high shop rents in the city.

Global brands would be undeterred by rising rents, it said.

HONG KONG: Sales of second-hand homes fell to a seven-week low last week, with only 226 deals done, as buying sentiment was hurt by uncertainties arising from Japan's nuclear crisis.

HONG KONG: Wealthy shoppers are driving a shift in Hong Kong's retail mix away from the mid-priced merchandise that once attracted local and foreign shoppers to the city, to the high-priced luxury international brands favoured by China visitors.

HONG KONG: To rent or to buy? Cereal Luk, like so many other tenants in Hong Kong, is currently wrestling with this tricky question.

While she is keen to avoid paying rapidly rising rents, buying now seems fraught with risk, since average home prices are approaching the peak levels reached before the 1997 East Asian crisis and luxury-home prices have exceeded those levels.