HONG KONG: Bidding for a luxury site to be auctioned in Kowloon Tong on Wednesday will take place under the shadow of new rules capping the amount of common space that may be added on to a development to 10% of its permitted gross floor area (GFA).

Axis REIT, which completed the acquisition of four new properties last month, recently saw the value of its portfolio exceed RM1 billion.

Engtex Group Bhd has long been known as a manufacturer of construction materials. But what many may not be aware of is that the group is also a property developer.
While Engtex Properties Sdn Bhd was officially incorporated in August 2007, says general manager Lee Geok Ai, its history stretches back to 1996 with the setting up of Tiaraview Management Sdn Bhd (Tiaraview).

Office market remains stable
 
The Klang Valley office market is expected to remain fairly stable until December.
The near-term outlook is supported by strong economic indicators such as the government’s Economic Transformation Programme which has identified 131 Entry Point Projects to generate business and job opportunities.

If the recent transactions in the Marina Bay area are anything to go by, investors with deep pockets are starting to nibble selectively at choice morsels in the high-end residential market. The choicest apartments in the Marina Bay neighbourhood are undoubtedly those that command superb views of the bay from their lofty locations.

In the high-end condominium market, Allgreen Properties started previews of the 118-unit Suites at Orchard on Handy Road on Oct 14 and, as at Oct 18, around 70% of the units were sold at prices ranging from S$2,000 to S$2,200 psf. The developer officially launched the project over the weekend of Oct 23 and 24.

GEORGE TOWN: Penang is setting up its own Penang Housing Board (PHB), modelled after the successful Singapore Housing Development Board (HDB) and Hong Kong Housing Authority (HKHA) in a long term bid to streamline the development of housing and plan more affordable housing in the state.

SUBANG: Southern Acids (M) Bhd (SAB) is set to unlock its holding of 644.49 acres of land bordering Kota Kemuning, Shah Alam, although its board of directors are still exploring its options.

KUALA LUMPUR: Melati Ehsan Holdings Bhd announced on Friday, Oct 29 that it has purchased 3.32 acres of freehold land in Bukit Jalil from Bukit Jalil Development Sdn Bhd for a future residential development project.

The Group said the acquisition is an opportunity for the Group to accumulate strategic land bank in a prime location at a reasonable price.

KUALA LUMPUR: Analysts are upbeat on Sunrise Bhd’s prospects going forward, given its growth strategy to venture into a variety of locations, both foreign and domestic.

A further positive factor is the cyclical nature of the property sector which would help propel sales as the domestic economy picks up pace.