SHAH ALAM: Gamuda Bhd is targeting RM5 billion in property sales over the next two years driven by two projects namely Gamuda City and Celadon City, both in Vietnam.

"We are expecting RM2 billion in sales from local projects and RM3 billion from the two projects in Vietnam.

GEORGE TOWN: The Real Estate and Housing Developers' Association (Rehda) of Penang is claiming that the high cost of land is the main reason for houses being sold at high prices in the state.

Chairman Datuk Jerry Chan Fook Sing said the high cost of land was also the reason for developers' inclination towards building upmarket homes in the state.

KUALA LUMPUR: A recent business delegation of local construction companies to Cambodia and Laos identified US$428 million (RM1.35 billion) of building and infrastructure projects in both the countries, a statement from Malaysia External Trade Development Corporation (Matrade) said on Thursday, Dec 9.

HO CHI MINH CITY: Private investment has been a key factor in Ho Chi Minh City's development in recent years, Vietnam News Agency (VNA) reported.

Vietnamese and international investors have made larger improvements in the city's transport infrastructure, housing, clean water supplies and waste management, according to experts and municipal departments.

WUHAN: Construction on what will be the world's third tallest building started Wednesday, Dec 8 in central China's Wuhan City, capital of Hubei Province, a spokesman for the developer said Thursday.

The skyscraper will be 606 metres tall when construction finishes in five years.

KUALA LUMPUR: S P Setia Bhd has set itself a RM3 billion sales target for 2011, president and CEO Tan Sri Liew Kee Sin said at a press conference on Thursday, Dec 9. The group achieved RM2.31 billion of sales in FY2010.

KUALA LUMPUR: Paramount Corp Bhd announced a windfall for its shareholders with the declaration of a special dividend of 40 sen per share.

The company said on Wednesday, Dec 8 the dividend would go ex on Dec 21 and the entitlement date would be Dec 23

BEIJING: Direct commercial property transaction volume in Asia-Pacific reached US$18.2 billion (RM57.33 billion) in the third quarter, up 14 percent from three months earlier, led by Singapore, Australia and China, Jones Lang LaSalle (JLL) said on Wednesday, Dec 8.

BEIJING: China's property prices will probably edge down in 2011 as authorities remain committed to squeezing speculators out of the market, mainly via monetary tightening steps, a top government think tank said on Wednesday, Dec 8.

KUALA LUMPUR: Shangri-La Hotels (Malaysia) Bhd (SHMB) has struck an informal agreement with Khazanah Nasional Bhd to jointly develop a 5 star resort in Langkawi.