HO CHI MINH CITY: Vacancy rates in Ho Chi Minh City (HCMC) is expected to remain high for the next few years despite promising absorption in the fourth quarter (4Q) 2010, due to the increasing supply, according to Cushman & Wakefield's latest HCMC Office Report.

KUALA LUMPUR: Bina Puri Holdings Bhd, through its wholly-owned subsidiary Bina Puri Properties Sdn Bhd, has acquired an almost 2-acre tract in Kota Kinabalu, Sabah for RM4.5 million.

According to a statement released by the company on Jan 21, the land will be used to develop one block of serviced apartments comprising 100 units with built-ups between 1,500 sq ft and 4,500 sq ft.

KUALA LUMPUR: Main Market-listed Kuantan-based property developer Pasdec Holdings Bhd plans to launch at least RM252 million worth of properties in Pahang this year.

LONDON: The Employees Provident Fund's (EPF) property acquisition trail in the UK is continuing with the latest purchase of a third office building there. Its latest acquisition is a building measuring 225,000 sq ft on Fleet Street for £148 million (RM717.8 million).

SINGAPORE: Growth of up to 10% in land values, rents and capital values over the next 12 months is expected for factories and warehouses in Singapore, according to Colliers International's latest Asia Pacific Industrial Report.

LONDON: The European commercial real estate investment reached a surprising €35.8 billion (RM147.87 billion) in 4Q 2010, bringing the annual investment total to €105 billion, according to CB Richard Ellis's (CBRE) latest European Investment Quarterly.

This is by far the highest quarterly result since 1Q 2008, and amounted to 44% increase on the €73 billion in 2009.

KUALA LUMPUR: Sycal Ventures Bhd's wholly-owned unit Sycal Properties Sdn Bhd has signed a joint venture (JV) agreement with Global Net Communication Sdn Bhd.

In a filing to Bursa Malaysia, Sycal said the companies aimed to jointly develop three plots of land in Kuala Lumpur into a high-end residential villas with estimated gross development value of RM70 million.

KUALA LUMPUR: Malaysia Steel Works (KL) Bhd (Masteel) and KUB Malaysia Bhd signed a joint-venture (JV) agreement to jointly build and operate 100km inter-city rail transit system costing RM1.23 billion at Iskandar Malaysia in Johor.

The system will also be linked to the Mass Rapid Transit line in Singapore.

KUALA LUMPUR: Malaysia's household debt, which stood at RM577 billion in November last year, is still on prudent level, says Bank Negara Malaysia (BNM) governor Tan Sri Dr Zeti Akhtar Aziz.

She said household debts accounted for about 50% of total loans and 74% of gross domestic product (GDP).

KOTA KINABALU: Sabah receives an allocation of RM10.7 billion to implement 424 new projects and complete 761 existing ones within the first two years (2011-2012) of the 10th Malaysia Plan.

Chief Minister Datuk Seri Musa Aman said the allocation received by Sabah was the second largest after that of the Federal Territories.