KUALA LUMPUR: Bandar Raya Developments Berhad (BRDB) announced that it is acquiring a 60% stake in Haute Property Sdn Bhd in a move to leverage BDRB's property development expertise to participate in the growth of the Iskandar Development Region.

SHANGHAI: The capital value growth of Shanghai’s Grade A offices continued to outpace rental rate growth in 2Q 2010 as the market sees evidence of further yield compression, according to Colliers International.

KUALA LUMPUR: Cluttons LLP, a UK-based international property consultancy and chartered surveying firm, has signed an association agreement with VPC Asia Pacific Ltd.

KUALA LUMPUR: Suntrack Development Sdn Bhd's SummerGlades in Cyberjaya have been 85% sold prior to launch with construction starting end-July.

The gross development value of this project is RM115 million, and is targeted to be completed by 1Q2012.

Just months after government measures dampened enthusiasm for flat-buying, the market is roaring back — so much so that some properties are back to 1997 levels.

Taking advantage of the upturn in sentiment, developers will release nearly HK$4 billion (RM1.65 billion) worth of flats this weekend.

On higher ground

KUALA LUMPUR: MTD ACPI Engineering Bhd, through its wholly owned subsidiary Makin Permata Sdn Bhd, entered into a sales and purchase agreement with Campio Builders Sdn Bhd on July 6 for a 3.434-acre freehold commercial tract for RM8.23 million, the Group announced in a filing with Bursa Malaysia on Wednesday, July 7.

PENANG: Residents of Kampung Tanjong Tokong here want to send a memorandum to Prime Minister Datuk Seri Najib Tun Razak requesting federal government aid of RM300 million to redevelop the traditional village which is more than 250 years old.

BEIJING: China has no plans to launch a new round of property market tightening in in the third quarter, a senior official said in remarks published on Wednesday, July 7, refuting earlier media reports.