SYDNEY: German construction firm Bilfinger Berger has sold its Australian unit to property developer Lend Lease for at least A$1.055 billion (RM3.3 billion), cutting its exposure to the volatile construction sector after pulling a planned initial public offering (IPO) of the unit earlier this year.

BANGKOK: Crowne Plaza Hotels & Resorts is making its brand debut in Bangkok, in the heart of the city's central business district.

The 241-room Crowne Plaza Bangkok Lumpini Park is located on the 21st to 32nd floors of the Ramaland complex in the Silom-Rama IV district and provides a panorama of sweeping views across the entire city.

KUALA LUMPUR: In line with its objective of maximising total returns to unitholders, UOA Asset Management Sdn Bhd — the manager of UOA Real Estate Investment Trust (REIT) — is selling an office suite in Wisma UOA II in Jalan Pinang for RM681,840.

The manager entered into a sales and purchase agreement with buyers Chong Lee Ching and Chin Wui Leong on Dec 20, it said on the same day.

KUALA LUMPUR: Berjaya Land Bhd (BLand) posted a net profit of RM 43.68 million for its second quarter (2Q) ended Oct 31, 2010, compared to RM 65.72 posted year ago.

Revenue increased to RM1.02 billion in the current quarter from RM983.1 million a year ago.

KUALA LUMPUR: Bina Puri Holdings Bhd has secured a contract worth RM158.36 million to construct housing and infrastructure in Brunei.

KUALA LUMPUR: Harmony Residence in Penang has already achieved a take-up rate of 70%, said Boon Siew Group's property division executive director Alfred Chew.

The condo project — developed by Boon Siew Group via its unit Taman Sri Bunga Sdn Bhd — is currently under construction on an acre of freehold land at Tanjung Bungah, Penang.

KUALA LUMPUR: The Gamuda-MMC partnership stands a strong chance of bagging the tunneling works worth RM14 billion for the whole KL Mass Rapid Transit (MRT) project, as Gamuda is probably the only local contractor qualified for the task.

OSK Research said in its research report that Gamuda's track record includes the SMART Tunnel, Penchala Tunnel and Kaohsiung MRT.

BEIJING: Beijing has again told local authorities to step up efforts to curb excessive land price increases that have contributed to higher housing prices.

The Ministry of Land and Resource has told local governments to "pay a close attention to real estate market movements and to firmly implement regulatory and control measures" as a way to cool down heated bidding for land.

LONDON: CB Richard Ellis (CBRE) has won the "Best International Property Consultancy" of 2010 title at the International Property Awards, it announced in a press statement dated Dec 13.

Gamuda
On track for MRT role