HONG KONG: C L Kong says he is unfazed by the government's latest round of measures aimed at cooling down Hong Kong's red-hot property market.

The public relations executive signed a preliminary agreement to buy a two-bedroom flat in Tseung Kwan O in May with the formal contract due to be completed by the end of this month.

SHANGHAI: New home sales in China cities were mixed last month with Beijing and Tianjin recording a significant rise. But overall prices declined in July and a further drop is expected in the coming months, according to property consultant DTZ.

Beijing and Tianjin recorded month-on-month sales rises of 38.9% and 24.6%, respectively, the DTZ data showed.

LONDON: Dozens of British residential development schemes are launched in Hong Kong before being offered to buyers in Britain.

GEORGE TOWN: The Penang property market is expected to enter another boom cycle, following signs of a gradual rise in prices due to a limited supply of land in prime areas.
Hunza Properties Bhd (HPB) group executive chairman Datuk Khor Teng Tong said the local property industry was well on the road to recovery as the impact of the financial crisis faded.

Hunza Properties
FY10 sales doubles YoY

Hunza Properties

Well Above Expectation
Hunza’s FY10 earnings came in 11% above our expectation and street’s estimates. FY10 y-o-y turnover and net profit soared 172% (26% q-o-q) and 85% (23% q-o-q) respectively.

BEIJING: China's banking regulator has told banks in Beijing to test for the impact of a plunge in property values below what is owed on mortgages, a local newspaper reported on Wednesday, Aug 18.

The order to examine any potential damage from negative equity in the real estate market is the latest effort to probe for banks' vulnerability to a crash in housing prices.

KUALA LUMPUR: MUI Properties Bhd recorded a net loss of RM180,000 for its second quarter ended June 30, 2010, dropping from a net profit of RM857,000 recorded in the same period a year ago.

The loss comes despite the company recording a higher revenue of RM6.7 million, up 21% from RM5.6 million recorded in the same period last year. 

KUALA LUMPUR: Putrajaya Perdana Bhd (PPB) posted a net profit of RM 12.47 million for its second quarter ended June 30, 2010, up 70% from RM7.28 million a year ago on the back of improved profit margins for current construction projects and road maintenance works.

KUALA LUMPUR: Penang-based Hunza Properties Bhd recorded a profit before tax (PBT) of RM18.5 million for its third quarter ended June 30, 2010, up 41% from RM12.93 million recorded in the same period last year.

The group’s revenue for the quarter rose 219% to RM73.6 million compared with RM23.05 million recorded in the same period a year ago.