KUALA LUMPUR: RHB Investment Bank Bhd (RHB IB), stabilising manager for Sunway Real Estate Investment Trust (SunREIT), has purchased 150,000 units in the latter for 89 sen to 89.5 sen apiece, it announced on Bursa Malaysia on Monday, July 26.

The purchase was made in relation to the initial public offering of 1.65 million new units representing undivided interest in the REIT.

Amanah Raya REITs
Diversified portfolio anchors ARRB’s growth.

KUALA LUMPUR: Despite the hype about real estate investment trusts (REITs) and the listing of two mega REITs this month alone — Sunway Real Estate Investment Trust (SunREIT) and CapitaMalls Malaysia Trust (CMMT) — their performance on Bursa Malaysia so far has been unexciting.

KUALA LUMPUR: En route to a listing on the Main Market of Bursa Malaysia Securities soon, Tambun Indah Land Bhd (TILB) plans to undertake 12 property development projects in Penang with an estimated gross development value (GDV) of RM1.05 billion.

KUALA LUMPUR: Mudajaya Group Bhd share price fell when it resumed trade following a one-hour halt from 9am-10am on Monday, July 26.

At 10.28am, the stock fell seven sen to RM5.81 with 415,700 shares traded.

KUALA TERENGGANU: The Kuala Terengganu City Council Cooperative (Kosmat) is investing RM12 million in real estate in the state.

Mayor Datuk Adzlan Mohd Dagang said the move was to expand cooperative's economic activities.

Its first project was the development of 73 residential units on a 3.4-hectare site in Kampung Banggul Mempelam, Mukim Serada, near here, he told Bernama.

HONG KONG: A substantial rise in new housing supply in the first half of this year will do nothing to cool the red-hot property market, analysts say.

Transport and Housing Bureau statistics show that about 7,000 flats were completed in the first six months of the year, equivalent to 97% of the flats completed for the whole of 2009.

HONG KONG: A luxury residential site in Kowloon Tong and a commercial plot in Sha Tin worth a combined HK$2.2 billion (RM904.64 million) were triggered for sale last Friday, July 23.

The Lands Department announced it had accepted a developer's minimum guaranteed bid of HK$659 million for the site at 1 Ede Road in Kowloon Tong.

The site will be offered for sale on Aug 31.

BEIJING: SouFun, China's leading real estate website, may be preparing for a US initial public offering (IPO) worth up to US$300 million (RM957 million) in what could be the largest such listing by a China Web company this year.

First 6@ Damansara started out as an attempt by a group of friends at communal living. But now, the six homes in a walled compound in Damansara Heights may signal an entirely new direction for Datuk Ling Keak Ming.Datuk Ling Keak Ming enthusiastically describes one of his more astute investments — a Siberian Husky. “My son moved out after he got married.