HONG KONG: A slowdown in domestic demand for homes in the US and Europe is prompting property developers there to search for buyers in Asia, particularly in Hong Kong and on the mainland.

The address list of foreign cities that find favour among Asian buyers includes London, Sydney and Singapore. More recently, it has expanded to Europe, particularly in Italy.

WENZHOU (China): The Perak government has urged investors from Wenzhou to seek opportunities in the state, especially in real estate, biodiversity as well as manufacturing industries.

Its Senior Executive Councillor Datuk Hamidah Osman said the state government and local property developers are keen on inviting the people of Wenzhou to come and see for themselves, Perak's potential.

KUALA LUMPUR: The redevelopment of the Pudu Prison site along Jalan Pudu in Kuala Lumpur is expected to commence construction by year-end.

UDA Holdings Bhd managing director Datuk Jaafar Abu Hassan told theedgeproperty.com recently, that the developer is “at the tail end of finalising plans for the project and hopes to start building within this year”.

HONG KONG: The return of expatriate executives to Hong Kong has increased leasing demand for high-end residential units as well as serviced apartments, according to property consultancy Jones Lang LaSalle (JLL).

BEIJING: Mainland home prices have tumbled by as much as 19% this month as developers resort to wide-scale price discounting in a bid to lure wary buyers back to the stagnating property market.

HONG KONG: Property markets across Greater China are finding themselves in the same boat -- fearful that last year's lending binge may have created a bubble.

In response to those concerns, the authorities have since March taken measures to cool their overheated markets. Except for the mainland, the measures have had little impact so far.

HONG KONG: Property developer Nan Fung Development won a Hong Kong residential site for less than expected last Thursday, May 6, with many developers staying on the sidelines as auctioneers repeatedly threatened to withdraw the site from bidding.

KUALA LUMPUR: Landed property in Malaysia’s prime property hub, the Klang Valley, remains hot, with prices in sought-after locations spiking of late after climbing steadily over the last two years.

Even the recent global recession has failed to shake market confidence, which is being translated into rising prices.

KUALA LUMPU: Tune Hotels.com (Tune Hotels) is set to increase its presence beyond Malaysia with its latest tie-up with Singapore-based Plato Capital Ltd (Plato).

KUALA LUMPUR: Magna Prima Bhd has lodged a police report against its former CEO Lim Ching Choy for alleged criminal breach of trust.

The property developer said on May 10 Lim was alleged to have made fraudulent personal claims during his tenure with the company between Nov 1, 2006 and May 14, 2009.