KUALA LUMPUR: The High Court of Malaysia has dismissed the summons-in-chambers instituted by Metroplex Holdings Sdn Bhd dated Apr 29, applying for injunctive relieve against OSK Trustees Bhd as trustee for Sunway Real Estate Investment Trust (Sunway REIT) to prevent them as exercising their rights as rightful owners of Putra Place in Kuala Lumpur.

BANGKOK: The Bangkok hotel market recorded strong numbers for the peak first quarter (1Q) 2011 period, indicating that the troubles of last year have been largely left behind, according to the latest Bangkok Hotel Market Report from Colliers International Thailand.

KUALA LUMPUR: Ireka Corporation Bhd's wholly-owned unit Ireka Engineering & Construction Sdn Bhd has been awarded a RM109.75 million to build a hotel at KL Sentral.

In a statement last Friday, May 13, Ireka said its unit had received a letter of award from Excellent Bonanza Sdn Bhd for the contract to build the hotel at Lot G of KL Sentral.

KUALA LUMPUR: Global gym operator Fitness First is set to open a new outlet in Setia City Mall, along side other tenants such as Parkson, Golden Screen Cinemas, Urbanfresh, Harvey Norman, Courts and Wangsa Bowl.

KUALA LUMPUR: Desa ParkCity's The Mansions@ParkCity Heights achieved an 86% take-up, representing total sales of RM480 million, during its priority sales launch last Saturday, May 14, said its developer Perdana ParkCity Sdn Bhd's group managing director Lee Liam Chye.

Housing prices in Malaysia, especially in the Klang Valley, have been surging in the past year or so, giving rise to concerns that there could be a property bubble.

Escalating prices in the Klang Valley property market have led to complaints that houses in both the primary and secondary markets are beyond the reach of most people.

The Bukit Bintang area in Kuala Lumpur will be the next hot spot with several factors working in its favour, says cartographer Ho Chin Soon at The Edge Investment Forum on Real Estate 2011.

Shopoffice investors should aim to sell only three years after a handover from a developer to maximise their earnings, says Reapfield Properties Sdn Bhd senior vice-president Gerard Kho.

The government recently proposed new measures to tackle the issue of abandoned housing projects in the country. One proposal is to compel developers to implement the build-then-sell (BTS) concept in property development.