BEIJING: China's annual real estate investment growth edged up to 34.3% in the first four months from an increase of 34.1% in the first quarter, the National Bureau of Statistics said on Wednesday, May 11.

The agency did not provide data for April alone. Property investment grew 35.2% in the first two months from a year earlier and increased by 33.2% in 2010.

SYDNEY: Australian house prices in major cities should hold firm, despite the prospect of more rate hikes this year, as people are attracted to cities for more jobs and a better commute, Australian property group Ray White said.

BENTON HARBOR (Michigan): Either way you look at it, this Michigan city is on the front line — either it is a harbinger of battles to come over budget cuts across America or a new chapter in the struggle for civil rights.

RIO DE JANEIRO: Like his house, Jose Santos de Oliveira is an island of resistance.

The middle-aged gardener and his home stand amid the sea of rubble that remains of the slum community of Vila Recreio 2 in the west of Rio de Janeiro.

HONG KONG: An entire level of The Landmark in Central is being converted into a shopping destination tailored specifically for men in a bid by owner Hongkong Land to keep the centre's status as one of the city's leading upmarket malls.

90% of the old tenants in the basement level will be replaced in the makeover.

HONG KONG: Aggressive bidding from property developers is expected at tomorrow's auction of three residential sites because of their potential for development into top-priced luxury projects, according to analysts.

The sites could fetch at least HK$4.5 billion (RM1.73 billion), they forecast.

Underscoring their defensive characteristics, earnings results for 1Q2011 for the two largest real estate investment trusts (REIT) on the local bourse were broadly in line with market expectations. No major surprises.

CMMT cmpletes first post-listing acquisition

SHANGHAI: Wharf (Holdings) has introduced serviced apartment concierge services to tenants of its office tower Wheelock Square in Shanghai in a strategy to position itself as a top-end property landlord in the city.

"We have a 24-hour duty manager in the building to serve tenants," said Dave Siu, the general manager of estate management for Shanghai at Wharf China Estates.

KUALA LUMPUR: Banks are raising their lending rates by 30 basis points (bps) on Wednesday, May 11, following Bank Negara Malaysia's (BNM) move to raise key interest rates by 25bps to 3% last week.

Industry sources said all banks are raising their lending rates, led by CIMB Bank Bhd.

KUALA LUMPUR: The Malay Chamber of Commerce Malaysia has asked the government to hand over the RM36 billion Mass Rapid Transit (MRT) project, the country's biggest infrastructure project, to the chamber.

The chamber said it would undertake the mega project in collaboration with other contractors' associations.