PENANG: Sunway City Bhd (SunCity) has unveiled its latest residential development in Penang called Sunway Aspera with an estimated gross development value of RM47 million.

• Landbanking activities going strong, KLCC still popular
• Redevelopment of Kampung Baru approved. Potential beneficiaries: GLC developers
• Redevelopment of prime government land and robust residential sales could re-rate sector
• Maintain positive view, top picks: SP Setia, E&O, MRCB

HONG KONG: Beijing is reportedly considering restricting down payments to developers for uncompleted flats in the latest measure to regulate the sizzling housing market.

Down payments and money from mortgages for unfinished flats will be placed in a special account to be overseen by the government, according to the China Securities Journal.

HONG KONG: Under pressure to address rising property prices while not alienating existing homeowners, the Hong Kong government has turned to an age-old solution - a public consultation.

KUALA LUMPUR: Construction player Nam Fatt Corporation Bhd’s audited net loss deviated by RM356.7 million to RM541.68 million in its fi nancial year ended Dec 31, 2009 (FY09) from its previously announced unaudited loss of RM184.99 million.

KUALA LUMPUR: Sunway Holdings Bhd and Protasco Bhd joined two other construction firms on the Top 50 Malaysian Small Cap Companies (50 Jewels) 2010 list by OSK Research.

The other two are Hock Seng Lee Bhd (HSL) and Naim Holdings Bhd, which are among 31 companies retained on the list from last year. Naim Holdings also made into the Top 10 list.

KUALA LUMPUR: Jetson Bhd (Jetson), through its wholly-owned subsidiary Jetson Construction Sdn Bhd (JCSB), has entered into a joint-venture (JV) agreement with China State Construction Engineering (Hong Kong) Ltd (CSCHK) on May 6, to form an unincorporated JV entity, Jetson-CSCHK joint venture, to prepare and submit a tender invited by Naza TTDI Sdn Bhd.

KUALA LUMPUR: Putrajaya Holdings Sdn Bhd (PJH)’s Venice-inspired commercial development, the Promenade@8 in Putrajaya, has seen 80% of its 106 units taken up.

The freehold development is the first waterfront development in Putrajaya. It comprises shopping lots, outdoor dining and leisure areas.

KUALA LUMPUR: Glomac Bhd and Axis REIT made their debut on the Top 50 Malaysian Small Cap Companies (50 Jewels) 2010 list by OSK Research, with the property developer claiming a Top 10 standing, the research house said on May 6. Plenitude Bhd and Hektar REIT, meanwhile, are retained in this year’s list.

HONG KONG: Beijing should impose a real estate tax on speculative investors in order to rein in the red-hot property market, a leading government think tank said on May 5.