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Russian tycoon loses US$53 million deposit on French villa

News Mar 02, 2010

NICE, France: A Russian billionaire who failed to complete a deal to buy one of France's most beautiful houses also lost his deposit on March 1, to the tune of €39 million (RM180 million).

Mikhail Prokhorov had made several bids to buy the sprawling villa Leopolda de Villefranche-sur-Mer before owner Lily Safra accepted a price of €390 million in 2008.

Australia retail sales rebound, stoke rate talk

News Mar 02, 2010

SYDNEY: Australian retail sales rebounded sharply in January while approvals to build new homes continued to point to a boom in construction this year, adding to the case for a rise in interest rates later on March 2.

London luxury-home prices increase the most since March 2008

News Mar 02, 2010

EDINBURGH: Luxury-home prices in central London jumped 17% in February from a year earlier, the biggest gain in almost two years, as more buyers competed for a dwindling number of properties, Knight Frank LLP said.

IJM Land: Aggressive launching plans in store

News Mar 02, 2010

IJM Land Bhd
(March 1, RM2.10)

AmResearch: Construction sector – Overweight (Second north-south link?)

News Mar 02, 2010

The Government is currently evaluating a proposal to build another highway linking the northern and southern parts of peninsular Malaysia, said The New Straits Times in a report today (March 2).

* Proposed highway is to complement the existing North-South Expressway (NSE) - currently owned and operated by PLUS Expressways Bhd.

Borneo Convention Centre, a new landmark in Kuching

News Mar 02, 2010


PETALING JAYA: The Borneo Convention Centre (BCCK) (pictured) in Kuching, Sarawak, is poised to boost Malaysia’s growing appeal as the preferred destination for meetings, incentives, conventions and exhibitions (MICE).

UM Land hopes to roll out two new projects with GDV of over RM600 mil

News Mar 01, 2010

KUALA LUMPUR: United Malayan Land Bhd (UM Land) hopes to roll out two new projects with a total gross development value (GDV) exceeding RM600 million (in Kuala Lumpur and Iskandar Malaysia, Johor) this year.

Search and rescue operation stopped, death toll in Bandung landslide 33

News Mar 01, 2010

JAKARTA: The search and rescue (SAR) operation for victims of last week's landslide at the tea growing area of Desa Tenjolaya, Pasirjambu, Bandung, West Java, has been officially stopped on March 1.

NewRiver, Morgan Stanley in UK property JV

News Mar 01, 2010

LONDON: Property investor NewRiver and Morgan Stanley Real Estate Investing have created a joint venture to acquire UK retail property which has bought its first portfolio for £49 million (RM253.83 million).

The closed-end NewRiver Retail Investments LP JV's deal capacity is more than £250 million, including leverage, NewRiver said in a statement on March 1.

Jeddah needs almost one million housing units over next 20 years

News Mar 01, 2010

JEDDAH: Jeddah needs almost a million housing units over the next 20 years, says a strategic plan prepared by the Jeddah municipality.