Good response at the sales launch of Seri Pilmoor

PETALING JAYA: All 34 semi-detached units of Sime Darby Property Bhd’s high-end development at Seri Pilmoor in the Ara Damansara township of Petaling Jaya were snapped up during the sales launch over the March 12 weekend.

HONG KONG: Analysts are divided over whether a mismatch between soaring property prices and stuttering economic growth should be ringing alarm bells for homebuyers in Hong Kong.

While Hong Kong property prices have soared to the second highest in the world, growth in the city's gross domestic product has fallen to the second lowest of 13 countries in the region over the last decade.

HONG KONG: The territory has become the world's second-most expensive city in terms of housing values, topped only by New York, says online research company Global Property Guide.

KUALA LUMPUR: Fund manager Mark Mobius' Templeton Emerging Markets Group has acquired a 5% stake in property developer KSL Holdings Bhd.

The 5% stake was part of the 10% stake or 35.1 million new shares placed out by KSL. The private placement was completed following the listing of the new shares last Friday, March 12.

KUALA LUMPUR: Ho Hup Construction Co Bhd's subsidiary is teaming up with Malton Bhd's unit to develop a piece of freehold land, measuring 243,000 sq m into mixed commercial and residential development.

Under the agreement, Ho Hup said on Wednesday, March 17 the project would comprise of shopping complex, shopoffices, office tower, serviced apartments and hotel.

• Terminated Setia View joint venture

KUALA LUMPUR: Thailand's government has expressed interest in participating in Malaysia Pacific Corp Bhd's (MPC) LakeHill Resort development and the RM3 billion Asia Pacific Trade & Expo City (APTEC) in Johor's Iskandar Malaysia.

KUALA LUMPUR: Nam Fatt Corp Bhd shares skidded in active trade on March 16 after it was placed under Practice Note 17 of the Main Market listing requirements of Bursa Malaysia Securities Bhd.

KUALA LUMPUR: Housing construction fell in February as blizzards depressed activity in the Northeast and South of the US. The decline highlighted problems facing builders as they struggle to emerge from the worst housing slump in years.

BOSTON: The apartment market in the US will improve as vacancy rates decline, according to a report from CB Richard Ellis Group Inc’s Econometric Advisors (CBRE-EA, formerly CBRE Torto Wheaton).

Vacancy rates will drop to a 6.8% average this year, compared with 7.4% in 2009, constituting a 60 basis points (bps) improvement, CBRE-EA said in a statement released on March 11.