Several positive policy changes have been made to boost the local property development and construction sectors since the onset of the global credit woes. Some of the changes were included in Budget 2009 and the two stimulus packages that followed, which totalled more than RM273 million.

KUALA LUMPUR: Kuwait Finance House (M) Bhd (KFHMB) on Dec 26 refuted an article titled "Kuwait Finance House aborts deal to buy The Icon" published in a local newspaper on Dec 25 and a related announcement made by Mah Sing Group Bhd on Dec 24.

There was a time when neighbours knew each other by name, greetings rang out over the fence in the mornings, and evenings were spent chatting on the front yard. Unfortunately, for most city folks, those times are now nothing more than a memory.

Innovative developers are always seeking new concepts, or as the sceptics would say, new gimmicks, for their development projects to differentiate themselves and gain an edge over their competitors.

LRT lines bring smiles, and fears

UK developer Native Land recently launched its project on the South Bank of the River Thames, London, and unveiled it in Asia. Native Land offered NEO Bankside to buyers in Kuala Lumpur, Singapore and Hong Kong and sold 15 units out of 20.

Housing markets in the world’s leading economies continue to recover but many remain distressed as well, according to online property research house Global Property Guide’s summary of housing statistics for the year to end-3Q2009 (http://www.globalpropertyguide.com

KUALA LUMPUR: Mah Sing Group Bhd said it has on Dec 23 obtained the approval of Bank Negara for shareholder’s advance to its wholly-owned subsidiary, Mah Sing International (HK) Limited, to subscribe shares in its newly- incorporated wholly-owned subsidiary Mah Sing Property Consulting (Changzhou) Pte. Ltd.

KUALA LUMPUR: Mah Sing Group Bhd, via its wholly owned subsidiary Star Residence Sdn Bhd entered into a sale and purchase agreement (SPA) with investment holding company T.S. Law Realty Sdn Bhd for the en bloc sale of the East Wing of The Icon@JalanTun Razak for RM226.5 million cash Dec 24.

KUALA LUMPUR: The property market will benefit from the real property gains tax (RPGT) amendment announced by the government yesterday, the Real Estate and Housing Developers' Association Malaysia (REHDA) said Dec 24.