KUALA LUMPUR: The first phase of S P Setia Bhd's residential Setia Greens development in Sungai Ara, Penang has already achieved a 40% take up rate prior to its launch, property (north) general manager S Sundarajoo said.

KUALA LUMPUR: In line with its debt restructuring scheme, Olympia Industries Bhd (Olympia) is disposing 14 pieces of freehold land in Melaka totaling 53.45 acres for RM42 million.

Olympia — via its wholly-owned subsidiary City Land Sdn Bhd — entered into a Sales and Purchase Agreement with Starwatt Engineering Sdn Bhd on Tuesday, Dec 21 for the disposal of land, it said on Tuesday.

KUALA LUMPUR: MTD Capital Bhd (MTD) is joining forces with ANC Holdings Pte Ltd (ANC) to undertake engineering and construction of building and infrastructure projects in Saudi Arabia.

MTD entered into a Joint Venture and Shareholders' Agreement with ANC on Dec 21 to incorporate a joint venture company in Saudi Arabia, MTD said on Tuesday.

KUALA LUMPUR: Taking advantage of the continued strength of the ringgit against the pound sterling, Amcorp Properties Bhd (Amcorp) is acquiring a residential property in London to further enhance its presence in London property market.

KUALA LUMPUR: The Master Builders Association Malaysia (MBAM) is hoping for a relaxation of certain policies for construction workers, as, recently announced mass projects need a big workforce.

The MBAM said it hopes that the work permits of foreign workers can be extended for another five years, and any skills test charges, should be made affordable for the construction industry.

SYDNEY: German construction firm Bilfinger Berger has sold its Australian unit to property developer Lend Lease for at least A$1.055 billion (RM3.3 billion), cutting its exposure to the volatile construction sector after pulling a planned initial public offering (IPO) of the unit earlier this year.

BANGKOK: Crowne Plaza Hotels & Resorts is making its brand debut in Bangkok, in the heart of the city's central business district.

The 241-room Crowne Plaza Bangkok Lumpini Park is located on the 21st to 32nd floors of the Ramaland complex in the Silom-Rama IV district and provides a panorama of sweeping views across the entire city.

KUALA LUMPUR: In line with its objective of maximising total returns to unitholders, UOA Asset Management Sdn Bhd — the manager of UOA Real Estate Investment Trust (REIT) — is selling an office suite in Wisma UOA II in Jalan Pinang for RM681,840.

The manager entered into a sales and purchase agreement with buyers Chong Lee Ching and Chin Wui Leong on Dec 20, it said on the same day.

KUALA LUMPUR: Berjaya Land Bhd (BLand) posted a net profit of RM 43.68 million for its second quarter (2Q) ended Oct 31, 2010, compared to RM 65.72 posted year ago.

Revenue increased to RM1.02 billion in the current quarter from RM983.1 million a year ago.

KUALA LUMPUR: Bina Puri Holdings Bhd has secured a contract worth RM158.36 million to construct housing and infrastructure in Brunei.