BANDAR RAYA DEVELOPMENTS BHD

• Bandar Raya Developments Bhd (BRDB) announced on Friday it had entered into a JV with Country Heights Land Sdn Bhd (CHLSB) to develop 66 parcels of leasehold land measuring 47.6 acres at Bluwater Estate,The Mines in Seri Kembangan.

Datuk Alan Tong Kok Mau is renowned for transforming a rubber estate on the fringes of Kuala Lumpur into what is now the thriving international enclave of Mont’Kiara, earning him recognition as “KL’s Condo King”.

The Johor Baru property market is hotting up. Public confidence is increasing in tandem with the improving economy in general, which in turn has positively affected the residential market there. Greater economic activity driven by Iskandar Malaysia may also have contributed to the more vibrant property market.

The drive to Setia Eco Park in Shah Alam on a recent Wednesday morning was rather pleasant, as we were going against the morning hour traffic heading to Kuala Lumpur. The Setia Alam Highway, which was completed in 2006, led straight to the high-end development across from Bandar Setia Alam.

KUALA LUMPUR: KSL Holdings Bhd is buying 244 acres of freehold land in Kluang to replenish its landbank for future development activities.

In a filing to Bursa Malaysia on Friday, Nov 12 the company said its wholly owned subsidiary, KSL Development Sdn Bhd, had entered into a sale and purchase agreement Mengkibol Kemajuan Sdn Bhd to acquire the land for RM55 million cash.

KUALA LUMPUR: Nam Fatt Corp Bhd's unit, Maddusalat Bhd, will dispose of four pieces of land in Selangor to Great Doctrine (M) Sdn Bhd and Teka Maju Sdn Bhd for RM68 million.

In a filing to Bursa Malaysia on Friday, Nov 12, it said the disposal of the land to Great Doctrine was expected to result in a net loss of RM60 million.

KUALA LUMPUR: Knusford Bhd has subscribed for 40,000 ordinary shares of RM1 each, representing 40% of the enlarged issued and paid-up capital of CBD Development Sdn Bhd.

HONG KONG: London’s West End continues to be the world’s most expensive office market, according to CB Richard Ellis Group, Inc. (CBRE) Global Research and Consulting’s semi-annual Global Office Rents survey. Hong Kong’s Central Business District (CBD) remained in second place as it recorded the fastest year-over-year occupancy cost rise with a 34.2% increase.

WASHINGTON: Half of the metropolitan areas tracked in the third quarter (3Q) of 2010 continued to show modest home price increases from a year ago, despite a sharp decline in home sales after the deadline for the home buyer tax credit, according to the latest survey by the US National Association of Realtors (NAR).

HONG KONG: Malaysia's two main government pension funds have made their first purchase in Britain, acquiring an office building as part of plans to invest up to £1 billion (RM5 billion) in the British property market.