Start of a landbanking spree?

Expanding presence in Puchong

KUALA LUMPUR: Glomac Bhd is acquiring 200 acres of leasehold land in Bandar Metro Puchong in Puchong, Selangor for RM77 million.

• Maintain OUTPERFORM. Mah Sing is continuing with its aggressive and transformational landbanking exercise that should catapult it into the big league. We believe it is ripe for a major re-rating given its excellent track record in execution and  wildly successful “quick turnaround” model.

Rides on strong retail growth

WASHINGTON: Existing-home sales in the US rose sharply in December when sales increased for the fifth time in the past six months, according to the National Association of Realtors (NAR).

HANOI: A model of new rural areas, where the central role of the people is "upheld" in every activity they participate in, is taking shape thanks to a pilot programme to be carried out in 11 communes nationwide since 2009, reports Vietnam News Agency.

The office market in Kuala Lumpur City Centre has been rather lacklustre of late. However, at a recent preview of a stratified office project in Kuala Lumpur’s Golden Triangle, the response far exceeded expectations.

The RM333 million deal to acquire a portion of the 1 Mont’Kiara mixed commercial development by ARA Asia Dragon Fund — an affiliate of Hong Kong tycoon Li Ka-Shing-linked Cheung Kong Group — from Ireka Corp Bhd’s subsidiary London Stock Exchange-listed Aseana Properties Ltd was completed on Dec 31, 2010.

From developing golf resorts, Long Island Corp founder and executive chairman Cheah Min Loong has taken on housing developments. Cheah got involved in property development when he ran Instangreen Corp Bhd, a listed company he divested in 1996, which specialised in developing golf courses and golf resorts.