KUALA LUMPUR: Hong Kong was the most expensive office location in the world last year. Occupancy cost per workstation in Hong Kong's prime district of Central and Admiralty rose by 31% year-on-year driven by a surge in prime rents due to high demand and space shortage, according to the annual DTZ Global Occupancy Cost: Office Survey 2010 released recently.

KUALA LUMPUR: The Real Estate and Housing Developers' Association of Malaysia (Rehda) expects property prices to increase by up to 20% in the next six months on higher material and land costs, its president Datuk Seri Michael Yam said.

KUALA LUMPUR: Berjaya Land Bhd's (BLand) wholly-owned subsidiaries Berjaya Vacation Club Bhd (BVC), BVC (Cayman) Ltd and BVC India have entered into a conditional share purchase agreement with Auromatrix Hotels Private Ltd (AHPL).

The agreement was for the proposed disposal by BVC and BVC Cayman collectively of 100% equity interest in BVC India to AHPL for RM15.06 million.

KUALA LUMPUR: Gefung Holdings Bhd is making its foray into the property development industry with first project in East Jakarta, Indonesia.

It had on Thursday, Mar 10 entered into a Memorandum of Understanding (MOU) with PT Greenworld Development (Greenworld) to undertake a mixed development project in East Jakarta, Indonesia, it said in a press release on the same day.

KUALA LUMPUR: Construction firm Ahmad Zaki Resources Bhd's (AZRB) subsidiary was awarded an RM145.39 million contract.

KUALA LUMPUR: Property developer Selangor Dredging Bhd is purchasing a piece of freehold land in London, together with properties atop of it, through its indirect subsidiary for £9.83 million (RM48.34 million).

KUALA LUMPUR: The Real Estate and Housing Developers' Association Malaysia (Rehda) expects property prices to increase up to 20% in the next six months.

Its president Datuk Michael Yam said on Thursday, Mar 10 the general increase in prices would be due to higher building material and land costs.  Material costs increase by 5% to 10% annually.

KUALA LUMPUR: Sime Darby Property Bhd's (SDP) USJ Heights development saw almost 75% of its second phase's zero lot bungalows snapped up within a week of its launch in January, it said in a statement on Wednesday, Mar 9.

KUALA LUMPUR: Information Communication and Culture Minister Datuk Seri Dr Rais Yatim on Wednesday, Mar 9 announced the development of the Digital City to prepare Malaysia as a supplier of digital services by 2015.

JOHOR BAHRU: The property sector outlook in Johor Bahru is expected to be positive as the market has maintained its growth momentum in the second half of 2010, said property consultant Knight Frank Malaysia in its research report on Malaysia's 2H2010 Real Estate Highlights.

Notable growth was particularly experienced by the mid-high to high end residential properties.