LONDON: Property consultant Jones Lang LaSalle said on Wednesday Jan 6, 2009 it expects a challenging 2010 for European commercial property, but sees deal volumes up 20 percent on 2009 to 85 billion euros (US$122.1 billion).

The stratified property industry in Malaysia has come a long way since the early 1970s. Today, it has grown with one in four residential homes and over 40% of retail centres being stratified properties.

CHICAGO: US retailers largely experienced a strong finish to the 2009 holiday season even though sales fell at apparel chains and department stores in December, according to MasterCard Advisors' SpendingPulse.

Online retailers, jewellers and consumer electronics retailers all saw sales gains last month, SpendingPulse said on Jan 6.

SAN FRANCISCO: Vacancies at the largest US shopping centers reached a record 8.8% in the fourth quarter as unemployment rose and consumers spent less, Reis Inc said.

Vacancies at smaller neighborhood and community centres increased to 10.6%, the highest level since 1991, from 8.9% a year earlier, New York-based Reis, a real estate research company, said on Jan 6 in a statement.

BEIJING: China’s housing ministry said it will curb credit for some home purchases to reduce speculation and rein in surging prices.

The nation will “further restrict credit for the purchase of second homes and curb speculative housing investments”, Minister Jiang Weixin said in a statement on the ministry’s website on Jan 6 after an annual work meeting. He didn’t elaborate.

GEORGE TOWN: Penang Heritage Hotel Sdn Bhd (PHH) will embark on the RM100 million gross development value project on the 3.47 acre state owned land along Farquhar Street, once conversion of the land from leasehold to freehold is completed.

DUBAI: The world’s tallest hotel opened in Dubai on Jan 6, continuing a record-setting week for the emirate that started with the inauguration of highest skyscraper.

KUALA LUMPUR: Investors following recent developments in Ho Hup Construction Co Bhd would be wondering whether the company’s share is really worth its current trading price of almost RM2, or four times higher compared to a month ago.

KUALA LUMPUR:  Danish architectural firm BIG (Bjarke Ingles Group) in collaboration with a group of consultants including Fuglark Architects, Lemming & Eriksson, Samal Johannesen, Martin Leo and KJ Elrad, have won a competition to design the Faroe Islands Education Centre recently.

BEIJING: China's central bank said on Jan 6 it will pay particularly close attention to the property market in 2010 while managing inflationary expectations, according to a Reuters report.