BUTTERWORTH: The Penang Regional Development Authority (Perda) will build 4,750 houses for those in the low and middle income groups in the state under the 10th Malaysia Plan.

Chairman Datuk Azhar Ibrahim said the houses comprised 739 low-cost units, medium low cost (771) and medium cost (3,240).

KUALA LUMPUR: IOI Corporation Bhd's wholly-owned subsidiary Resort Villa Golf Course Bhd has entered into a conditional exchange of land agreement with Mayang Development Sdn Bhd.

In a filing to Bursa Malaysia on Wednesday, Jan 12, it said the freehold land located in Pekan Bukit Bisa,Sepang, Selangor will be exchanged for Mayang's own freehold land in Dengkil.

KUALA LUMPUR: Encorp Bhd expects to raise about RM67 million after shareholders approved the Proposed Rights Issue and Proposed Placement of Redeemable Convertible Secured Loan Stocks with free warrants at its Extraordinary General Meeting held in Kuching on Wednesday, Jan 12.

KUALA LUMPUR: Centrestage — a RM500 million mixed commercial development in Section 13, Petaling Jaya — is targeted for launch at the end of February, said a spokesman from developer Cherish Springs Sdn Bhd.

HONG KONG: Rentals for grade A office space in Central and Admiralty may rise as much as 20% this year due to the buoyant market outlook and strong business demand, property consultant DTZ says.

SHANGHAI: China's continued strong economic growth is prompting many companies to expand and upgrade their offices in Shanghai, and the trend is expected to drive rents of top grade A offices higher this year despite new supply.

HONG KONG: Developers planning to raze old buildings and develop residential projects on the sites they occupy face a tough new regulatory hurdle to secure approval for their plans.

The developers must now convince the Buildings Department that they have a "realistic prospect of control" before their redevelopment plans can be approved.

5th property development in Singapore

Maintain Buy. Sunway’s 5th property project in Singapore strengthens its presence in the island state. It has won a tender for another piece of land at Jurong together with its “old” partner Hoi Hup for SGD131.6m.

BEIJING: A property tax to be launched on a trial basis in the southwestern Chinese city of Chongqing will cover new and existing homes, city mayor Huang Qifan was quoted as saying on Wednesday, Jan 12 by state television.

KUALA LUMPUR: UEM Land Holdings Bhd has received acceptances for 477.64 million Sunrise Bhd shares at a takeover offer price of RM2.80 per share, representing a 96.42% stake in the company at the close of the offer period.