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UOA-REIT appoints new CEO

KUALA LUMPUR: UOA Real Estate Investment Trust (UOA-REIT) has appointed Kong Sze Choon as its CEO, according to the company’s filing on Bursa on Jan 17.

17 January, 2011
UDA to spend RM80m to redevelop Kampung Tanjung Tokong

JOHOR BAHRU: UDA Holdings Bhd will spend about RM80 million to relocate and redevelop the Kampung Tanjung Tokong squatter settlement in Penang by the end of the year.

Chairman Datuk Nur Jazlan Mohamed said the redevelopment model was the first of its kind among developers where each squatter household would get a house without having to pay for it and the transfer cost.

17 January, 2011
China Dec property price rise slowest in a year

BEIJING: China's annual property price rise in December marked its slowest pace in a year, but the government may intensify cooling measure to further slow the upward march of home prices.

Property prices grew 6.4% in December from a year earlier, the National Bureau of Statistics said on Monday, Jan 17, the slowest since November 2009 when it hit 5.7%.

17 January, 2011
Taiwan to reimpose tax on undeveloped land

TAIPEI: Taiwan has decided to reimpose a tax on undeveloped land holdings, the finance minister said on Monday, Jan 17, the latest government measure to address rising asset prices on the island.

Finance minister Li Sush-Der did not say how much the tax would be or when it would be implemented. The measure needs final parliamentary approval.

17 January, 2011
Axis-REIT sells Axis North Port LCI for RM14.5m

KUALA LUMPUR: Axis REIT Managers Bhd (ARMB), the manager of Axis Real Estate Investment Trust (Axis-REIT), has entered into a sale and purchase agreement for the disposal of Axis North Port LCI, to Freight Management (M) Sdn Bhd for RM14.5 million, according to statement by the company on Monday, Jan 17.

17 January, 2011
US housing activity to improve this year, says NAHB

WASHINGTON, DC: Housing will see gradual improvements in activity this year as the nation's economy and job market continue to move to higher ground, establishing momentum that will produce more considerable gains in 2012, according to economists who appeared at the National Association of Home Builders (NAHB) International Builders' Show in Orlando on Jan 12.

17 January, 2011
S P Setia: New MoH complex design ready

KUALA LUMPUR: S P Setia Bhd has finalised the design and costing for the proposed development of a new integrated health and research complex for the Ministry of Health (MoH) in Setia Alam, Selangor.

The company said on Monday, Jan 17 that its associate Sentosa Jitra Sdn Bhd (SJSB) had finalised its design and costing for the new complex based on the MoH's brief of requirements.

17 January, 2011