SINGAPORE: Singapore is seeing growing interest from Mainland China as the number of Chinese buyers hit a record high of 19% of foreign purchasers in 2010, up from the previous high of 15% in 2009, according to the latest DTZ Singapore Property Times.

In another record high, Chinese buyers accounted for 23% of foreign purchasers in 4Q2010, up from 20% in 3Q2010.

SHANGHAI: Demand for Shanghai grade A office will remain strong this year due to the influx of enterprises from the financial, banking and consulting industries, reported Knight Frank in its latest Shanghai Prime Offices quarterly report.

An annual growth rate of about 10% is projected for the Grade A office market for the year.

S P Setia
Swap for prime Bangsar land

SP SETIA
Investment Highlights

• We maintain our BUY rating on SP Setia Bhd and raise our fair value from RM7.10/share to RM7.38/share – based on an unchanged 5% discount to our revised fully-diluted (FD)
NAV of RM7.77/share.

SEREMBAN: Negeri Sembilan Menteri Besar Datuk Seri Mohamad Hasan said on Wednesday, March 2 irresponsible people were abusing the RM10 nominal annual quit rent facility for schools and houses of worship in the state.

KOTA BHARU: The Kelantan government has to build at least 14,000 units of low cost houses to enable the low income earners to own their own houses.

Opposition chief in the Kelantan State Assembly Datuk Md Alwi Che Ahmad said the 313 units already built by the state government was not enough and it also proved the state government's incapability to provide such houses.

CYBERJAYA: S P Setia Bhd has acquired approximately 268.11 acres of freehold land in Cyberjaya from Cyberjaya master developer Setia Haruman Sdn Bhd for a total of RM420.4 million.

KANOWIT: Deputy Education Minister Dr Mohd Puad Zarkashi started his state walkabout in last August, visiting some 27 schools in the deep interiors of Belaga, Kapit and Song districts in six days.

KOTA BHARU: The Kelantan State Assembly was on Wednesday, March 2 told that Kota Bharu town is dirty because of its rapid population growth.

State Local Government, Tourism and Culture Committee chairman Datuk Takiyuddin Hassan said the increase in population had not only resulted in more rubbish being thrown, but made difficult to curb the bad habit among the people.

HONG KONG: A luxury residential site in Mid-Levels slated for sale this year could set a land price record in Hong Kong, believe some property watchers.

It could also bring sky-high expectations about the outlook for further strong growth in property prices back to earth with a bump.