Axis-REIT to acquire Tesco JB Hypermarket Axis Real Estate Investment Trust (Axis-REIT) has proposed to acquire the Tesco JB Hypermarket Complex in Johor Baru for RM75.6 million cash from Bukit Indah (Johor) Sdn Bhd. This acquisition will increase the assets under the REIT’s management to over RM1.2 billion, Axis-REIT announced on Aug 24.

The serviced residences market will be seeing 1,200 new units from eight developments over the next four years. As at 2Q, the Singapore market already had more than 4,600 units in 50 developments.

Even early in his career, Joseph Chong Wan Ping was not your regular contractor.

Up in Kemensah Heights behind Zoo Negara in Kuala Lumpur, Kenoza Sdn Bhd is building a boutique development called Rimba, offering 16 bungalows the design of which harks back to the style of planter homes.

To create a home that refreshes the soul and takes away the stresses of life is one reason the six winners of the haven/The Edge My Dream Home Awards 2010 stood out for the judges.

KUALA LUMPUR: The proposed disposal of Olympia Industries Bhd's Menara Olympia to Jelita Timur Sdn Bhd for RM30.2 million has been aborted following the buyer's withdrawal.

In a Bursa Malaysia filing on Friday Aug 27, Olympia Industries said it will refund the RM3.02 million deposit to Jelita Timur.

KUALA LUMPUR: Power Root Bhd's subsidiary PT. Natbio Marketing Indonesia has acquired a 807.29 sq ft-land with an attached four-storey shop office at the Garden Shopping Arcade, Central Park, Indonesia from PT. Sun International Capital for RM1.74 million.
 

KUALA LUMPUR: Mutiara Goodyear Development Bhd through its wholly-owned subsidiary Regal Form Sdn Bhd, is disposing a piece of vacant freehold land measuring approximately 71,123.39 sq m in Ulu Langat Selangor to Pusaka Padu Sdn Bhd for RM18.4 million.

SIBU (Sarawak): Sarawak housing developers are in a fix over the mandatory ruling for them to build low cost houses if their proposed development areas exceed four hectares.

Sarawak Housing and Real Estate Developers' Association (SHEDA) Secretary-General, Sim Kiang Chiok, said they were also required to do the same on projects where native land is reclassified to mixed zone.

KUALA LUMPUR: Bandar Raya Developments Bhd's (BRDB) net profit for the second quarter (2Q) ended June 30, 2010 doubled to RM84.15 million from RM40.61 million a year earlier despite posting a lower revenue of RM151.36 million.

Earnings per share was 17.7 sen, while net assets per share was RM3.59.