DUBLIN: A pledge by Ireland's main opposition parties to ban upward-only rent reviews on commercial leases has spooked overseas buyers and risks further inflating banks' losses, property investors said on Wednesday, Feb 16.

KUALA LUMPUR: Malaysian Resources Corporation Bhd (MRCB) plans to develop a premium high-rise residential project with a gross development value (GDV) of RM300 million at Jalan Kia Peng.

The group had acquired the one-acre leasehold land parcel in the city centre on Jan 7, it said in a statement on Thursday, Feb 17.

KUALA LUMPUR: Tambun Indah Land Bhd acquired three property companies — Premcourt Development Sdn Bhd, Pridaman Sdn Bhd and Ikhtiar Bitara Sdn Bhd — in Penang for RM11.6 million, the group announced on Wednesday, Feb 16.

KUALA LUMPUR: Hunza Properties Bhd achieved an increase in revenue by 7% to RM63.7 million from RM59.3 million a year ago as reported in its 2Q financial statements ended Dec 31, 2010, the group announced on Wednesday, Feb 16.

However, net profit for the quarter under review dropped by 23% to RM10 million from RM13 million the previous year.

KUALA LUMPUR: Loss-making Zelan Bhd recorded negative revenue from its continuing operations in Indonesia totaling RM39.2 million in the third quarter ended Dec 31, 2010 and warned of more losses in the current fourth quarter.

KUALA LUMPUR: I&P Group Sdn Bhd's development of 156 units of apartments called 8 Petaling in Bandar Baru Sri Petaling, Selangor has attracted over 800 registrants to-date prior to its expected launch on March 26, 2011.

BEIJING: Beijing has spelled out stricter rules to restrict purchases of multiple homes in China's capital, state television reported on Wednesday, Feb 16, in a bid to rein in soaring property prices.

Under the new rules, only families with residence permits in Beijing — a number far smaller than the city's real population — will be allowed to buy a second home.

KOTA KINABALU: The various land issues facing locals in Sabah have reached a serious level which warranted immediate solution, said Human Rights Commission of Malaysia (Suhakam) Commissioner Jannie Lasimbang.

LONDON: Wealthy China investors, including state-owned enterprises, are queuing to buy vineyards in France.

The latest China foray into French wine-growing properties included the sale to an undisclosed buyer of Chateau Lagarosse, a 40-hectare vineyard that produces a Premier Cote de Bordeaux, an entry-level wine. The price that was paid is not known.

SHANGHAI: China's banking regulator has told banks to control new lending to local governments, and closely monitor the health of property developers, the official Shanghai Securities News reported on Wednesday, Feb 16.