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World’s housing marts mostly recovering, but situation patchy

The world’s housing markets are (mostly) recovering, according to the Global Property Guide’s latest survey of residential property time-series. During the last quarter of 2009, house prices rose in 22 countries, of the 34 countries for which quarterly house-price statistics are available, and fell in only 11 countries.

SStwo is a ‘mall that cares’

PETALING JAYA: SStwo Mall, located in the centre of the SS2 residential suburb here, is scheduled for opening in the third quarter of this year. The RM180 million project is developed by Asian Retail Mall Fund II (ARMF II) and is strategically located along SS2/72, Petaling Jaya.

Bahrain: Segmented recovery

KUALA LUMPUR: Whilst the Bahraini real estate sector may not have suffered the dramatic reversal of form experienced by many property markets across the Gulf, it has seen a fall off in activity, with the volume of sales and new leases down and many expecting a return to the heated conditions of before 2008 to be some time off.

Faber Group posts 21.8% increase in revenue for FY2009

KUALA LUMPUR: Faber Group Bhd posted a 21.8% increase in revenue for FY2009 to RM805.3 million from RM661.2 million in FY2008, while its profit before tax went up 26.6%, or RM29.7 million, to RM141.2 million for FY2009. The group’s core businesses are integrated facilities management (IFM) and property development.

Sunway City records revenue of RM1.6 billion for FY2009

SELANGOR: Sunway City Bhd recorded revenue of RM1.6 billion and profit before tax of RM1.2 billion for FY2009. This is based on an 18-month period as its financial year-end was changed from June 30 to Dec 31.