KUALA TERENGGANU: A seven-storey hotel costing RM37.4 million slated for completion in October will help ease room shortage here and boost Terengganu's tourism industry, says State Islamic Religious and Malay Customs Council (Maidam) executive officer Wan Harujan Sulaiman.

MELBOURNE: Leighton Holdings , Australia's top contractor, is reviewing its near 50% stake in residential developer Devine as part of a broader review of its investments, new chief executive David Stewart said on Monday, Feb 14.

"We're looking at our property plays entirely," Stewart told reporters, after the group reported a 25% slide in first-half profit. — Reuters

BHL Group of Companies may be a new name in the property development business but the company has already made a name for itself as the contractor of a few projects, mainly in the Klang Valley.
With executive chairman Datuk Lim Boo Kian at its helm, BHL’s new goal is to make its presence felt in the property development sector.

Challenging times for CIDB

Whoever says Kajang is a sleepy town must not have been there recently as the roads were surprisingly congested the Tuesday morning we visited.

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

Private residential property prices grew at a slower rate of 2.7% in 4Q2010 compared with the 2.9% gained in the preceding quarter, according to Singapore’s Urban Redevelopment Authority in its Jan 28 release of property statistics. Nevertheless, the private residential market ended 2010 at a record high — a 17.6% rise in prices for the year.

Office rent in Singapore rose 4.7% in 4Q2010, slowing from the 6% achieved in the preceding quarter, according to Urban Redevelopment Authority statistics released on Jan 28. For the full year, office rent was up 12.6% when the Singapore economy grew at a record 14.7%.

KUALA LUMPUR/LONDON: London-based Thornsett Group is launching a new residential development, St David's Apartment, located in Islington, London and Malaysia is getting the first look at the property on Feb 18-20 at JW Marriot Hotel, Kuala Lumpur.

KUALA LUMPUR: Krisassets Holdings Bhd reported a net profit of RM80.1 million for the fourth quarter (4Q) of the financial year ended Dec 31, 2010 an increase of 61% from RM49.5 million reported the same quarter a year earlier due to the recognition of revaluation surplus on investment property.