KUALA LUMPUR: Land & General Bhd (L&G), the developer of the Bandar Sri Damansara township here, plans to acquire more land in the Klang Valley to undertake more commercial and residential projects.Managing director Low Gay Teck said on Wednesday, Oct 21 the land purchases would be financed via the company's internal funds and bank loans."It's a mix...

KUALA LUMPUR: The property sector is highly unlikely to get more incentives under the Budget 2010 proposals to be unveiled on Friday, as the earlier incentives had been given out in the past two Budgets and stimulus packages.Kenanga Investment Research said on Wednesday, Oct 21 it was expecting a rather quiet Budget for the sector and most property companies had weathered the financial storm we

KUALA LUMPUR: There is a need to standardise guidelines on foreign property investments throughout the country to encourage more foreigners to invest in the local property sector, said Malaysian Institute of Estate Agents (MIEA) president Julie Wong.

KUALA LUMPUR: Axis Real Estate Investment Trust (Axis REIT) has completed the acquisition of Axis Steel Centre in Klang, Selangor for RM65.84 million on Oct 20, 2009. OSK Trustees Bhd acted on behalf of the REIT.

KUALA LUMPUR: Foreign buyers are trickling back into the Kuala Lumpur property market due to improving sentiment arising from the recovery in their home economies and property markets, said international property consultancy DTZ’s Kuala Lumpur Property Times 3Q2009 research report.

HONG KONG: Prices of luxury homes here, already the highest in the world, may rise further due to a lack of supply as an economic recovery spurs demand, property adviser and consultant Savills plc said.

PETALING JAYA: The Kuala Lumpur office property market is facing a period of adjustment in rental rates for Grade A office space in the city’s Golden Triangle. It will also experience a period of consolidation and stabilisation of average asking rents, which may well last until 2013.

KUALA LUMPUR: The commercial centre of One Ampang Avenue which has long been known as “Little Korea” has attracted a different crowd of expatriates of late: Iranians.

WASHINGTON: Confidence among US homebuilders unexpectedly fell in October on mounting concern sales will retrench once government credits expire.

LONDON: Home sellers here raised asking prices to a record high this month and led gains across the UK as the shortage of properties for sale intensified, Rightmove plc said.

The average cost of a home in the capital rose 6.5%, the most since records began in 2002, to £416,157 (RM2.29 million), the owner of the UK’s biggest residential property website said on Oct 19 in a statement.