KUALA LUMPUR: Magna Prima Bhd on Dec 10 entered into a sale and purchase agreement with Santari Sdn Bhd for the acquisition of a 5.5-acre freehold tract in Bukit Jalil for RM10.7 million. The property is currently vacant and will be developed for the relocation of the existing Lai Meng Primary School and Lai Meng Kindergarten, currently located along Jalan Ampang in Kuala Lumpur.

KUALA LUMPUR: The Bukit Antarabangsa landslide report can be used as a guideline by developers when planning or undertaking projects, said Real Estate and Housing Developers' Association Malaysia (Rehda) president Datuk Ng Seing Liong.

PETALING JAYA: Naza Hotel Management, a unit of Naza Group, plans to add two to three new hotels to its stable, with one in Kuala Lumpur’s Golden Triangle, over the next three to five years.

Director of Naza Hotel Management, Nur Nadia SM Nasimuddin said the company plans to invest between RM50 million and RM60 million for each hotel.

KUALA LUMPUR: YTL Land & Development Bhd’s Midfields (picture), a mixed residential and commercial development in Sungai Besi, Kuala Lumpur will be launching its final (Block C) block of condominium units this weekend (Dec 12) following the good response to the launch of Block B last week.

KUALA LUMPUR: Landmarks Bhd announced today (Dec 10) the appointment of Sheraton Overseas Management Corp, an affiliate of Starwood Hotels & Resorts Worldwide, Inc (Starwood Hotels & Resorts) as The Andaman Langkawi’s new operator effective Dec 10.

TEL AVIV: Harel Insurance Investments & Financial Services and Menora Mivtachim Holdings will each acquire 48% of a partnership that is buying an office building in Norwich, England, for £134.4 million (RM742.25 million).

Harel and Menora, which are among Israel's top five insurance groups, will each pay £64.5 million, the Israeli companies said on Dec 10.

KUALA LUMPUR: FAM Development Sdn Bhd, under FAM Holdings Sdn Bhd, is introducing 3-storey bungalows in Taman Taynton View in Cheras, Kuala Lumpur in a private preview this weekend (Dec 12 & 13).

The project called Taynton Harmoni (picture), with a gross development value (GDV) of RM80 million, is just next to the Sekolah Menengah Seri Mutiara.

KUALA LUMPUR: The Indian real estate market is beginning to see signs of cautious optimism but much hinges on how well the global recovery picks up, according to leading industry players who have gathered for Cityscape India 2009 in Mumbai.

KUALA LUMPUR: SP Setia Bhd net profit for the fourth quarter ended Oct 31, 2009 fell 25% to RM56.86 million from RM76.08 million a year ago, mainly due to the inclusion of profit recognised on the disposal of its 25.07% interest held in Loh & Loh Corporation Bhd amounting to RM26.9 million a year ago.

KUALA LUMPUR: S P Setia Bhd’s net profit for the fourth quarter ended Oct 31, 2009, fell 25% to RM56.86 million from RM76.08 million a year ago, mainly due to the inclusion of profit recognised on the disposal of its 25.07% interest held in Loh & Loh Corp Bhd amounting to RM26.9 million a year ago.