SINGAPORE: YTL Pacific Star REIT Management Ltd, the manager of the US$1 billion (RM3.37 billion) Starhill Global REIT, is working on a succession plan after the sudden demise of its CEO Franklin Heng following cosmetic surgery at an Orchard Road clinic here.

PETALING JAYA: Country Heights Lifestyle Berhad (CHLB), a wholly owned sub-subsidiary of Country Heights Holdings Berhad has entered into five separate Deed of Assignment with Golden Horse Palace Berhad (GHPB) for the sale of its five units of hotel apartments in London, the company said in a Bursa Malaysia announcement on  Jan 7.

ALAPPUZHA (India): India's first 'water theme'-based IT Park, offering nature-friendly and stress-free working atmosphere, has been given the status of Special Economic Zone (SEZ) by the Indian government, Press
Trust of India (PTI) reported Thursday Jan 7, 2009.

LONDON: Property consultant Jones Lang LaSalle said on Wednesday Jan 6, 2009 it expects a challenging 2010 for European commercial property, but sees deal volumes up 20 percent on 2009 to 85 billion euros (US$122.1 billion).

The stratified property industry in Malaysia has come a long way since the early 1970s. Today, it has grown with one in four residential homes and over 40% of retail centres being stratified properties.

CHICAGO: US retailers largely experienced a strong finish to the 2009 holiday season even though sales fell at apparel chains and department stores in December, according to MasterCard Advisors' SpendingPulse.

Online retailers, jewellers and consumer electronics retailers all saw sales gains last month, SpendingPulse said on Jan 6.

SAN FRANCISCO: Vacancies at the largest US shopping centers reached a record 8.8% in the fourth quarter as unemployment rose and consumers spent less, Reis Inc said.

Vacancies at smaller neighborhood and community centres increased to 10.6%, the highest level since 1991, from 8.9% a year earlier, New York-based Reis, a real estate research company, said on Jan 6 in a statement.

BEIJING: China’s housing ministry said it will curb credit for some home purchases to reduce speculation and rein in surging prices.

The nation will “further restrict credit for the purchase of second homes and curb speculative housing investments”, Minister Jiang Weixin said in a statement on the ministry’s website on Jan 6 after an annual work meeting. He didn’t elaborate.

GEORGE TOWN: Penang Heritage Hotel Sdn Bhd (PHH) will embark on the RM100 million gross development value project on the 3.47 acre state owned land along Farquhar Street, once conversion of the land from leasehold to freehold is completed.

DUBAI: The world’s tallest hotel opened in Dubai on Jan 6, continuing a record-setting week for the emirate that started with the inauguration of highest skyscraper.