Property sector

KUALA LUMPUR: The Pakistani government has invited Malaysian construction companies to join in its re-construction efforts.

In a statement here on Wednesday, Feb 9, High Commissioner to Malaysia Masood Khalid said Pakistan faced devastating floods last year, which had damaged infrastructure like roads, bridges, communication network, schools and hospitals.    

WASHINGTON: The Obama administration will propose raising the cost of loans backed by the Federal Housing Administration as part of a plan to reduce government support of the mortgage market to below 50%, said sources familiar with the plan.

BANGKOK: The office market in Bangkok will see occupancy levels going up as there was limited new supply in the market segment due to it being least active in 2010 as the country was preoccupied with political disturbances and a possible double dip recession for many of its export destinations.

KUALA LUMPUR: Malaysian Resources Corporation Bhd (MRCB) reported a 4Q net profit of RM41.5 million for the financial year ended Dec 31, 2010 an increase of 234% from RM12.4 million reported in the preceding year corresponding quarter due to improved profit margin.

SHANGHAI: China homebuyers seem to have got the message — for now at least.

Responding to the first roll-out last month in Shanghai and Chongqing of the long-awaited property tax — which came on top of earlier nationwide measures to curb runaway prices — buyers kept out of the market last week.

HONG KONG: Individual serviced apartments are being offered for sale in Hong Kong for the first time.

The launch by the family-owned Ovolo Group will test the market's appetite while allowing the company to raise cash to expand as property prices continue to rise.

HONG KONG: Hampton Place, Kingswood Villas and Kornhill are among the housing estates that have recorded price increases of more than 80% amid a resurgence of the property market in the past two years, according to property agents.

HONG KONG: Developers are poised to accelerate releases of new projects in Hong Kong to take advantage of a strong rebound in prices, agents believe.

HONG KONG: A Philippine developer is targeting Hongkongers with an upmarket Versace-branded residential project in Makati City in the heart of Manila's financial district and shopping mecca.

Robbie Antonio, managing director of Century Properties, believes the famous brand will attract Hong Kong buyers to the Milano Residences project.