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UEM Land sells land to Khazanah for RM26.7 million

KUALA LUMPUR: UEM Land Bhd is disposing of two parcels of land in Puteri Harbour for RM26.7 million to Khazanah Nasional Bhd's Themed Attractions and Resorts Sdn Bhd (TAR).

UEM Land said Nov 9 that under the sales and purchase agreement, UEM Land would be appointed as the development manager to supervise, manage and oversee the overall development of the land.

Singapore mulls more measures to avert property bubble

KUALA LUMPUR: Singapore is mulling more measures to avert a property bubble on concerns of renewed escalation of speculative momentum.
The Monetary Authority of Singapore (MAS) said on Monday, Nov 9 that despite the lingering uncertainties in the domestic and global economy, domesticproperty market activity has taken on its own dynamic.

New Zealand house prices post first annual gain in 16 months

WELLINGTON: New Zealand house prices rose in October for the first time in 16 months as the economy emerges from a recession.

Prices increased 0.2% from a year earlier, the first annual gain since June 2008, Quotable Value New Zealand Ltd, the government valuation agency, said in an e-mailed report. Prices have risen 3.4% since falling to a low in April.

Penang state government denies granting approvals

GEORGE TOWN: The Penang chief minister's office has denied press reports that the Pakatan Rakyat state government had granted approvals for reclamation or hill development projects on the island.

In a statement, Chief Minister Lim Guan Eng's press secretary Cheong Yin Fan said such approvals had been granted by the previous Barisan Nasional state government.