MUMBAI:  Developers in India who have been offering mid to high-end residential real estate are turning to mass affordable housing in the aftermath of the economic slowdown.

KUALA LUMPUR: Malaysian Resources Corporation Bhd (MRCB) is looking forward to better years ahead, given the progress of its ongoing projects and its more robust financial position, said CEO Mohamed Razeek Hussain.

DUBAI: State-owned Dubai World did not ask creditors for a standstill on its $22 billion debt at a meeting on Monday Dec 21, 2009, adding to uncertainty for investors who have been in the dark for weeks and hurting local bank shares.

Dubai's flagship conglomerate met around 90 of its creditors and was expected to formalise a request for a debt standstill.

HULU TERENGGANU: Four workers, a Malaysian and three Bangladeshis, were hurt when a glass sheet being installed on the roof of Kuala Berang new bus terminal fell.

It was understood that 15 workers were busy working on the roof at 3.05pm today Dec 21, 2009 when the incident occured. The four workers, two on the roof and two below were hurt in the hands and legs.

KUALA LUMPUR: Hap Seng Consolidated Bhd’s wholly-owned subsidiary Menara Hap Seng has entered into a sale and purchase agreement with Eastern & Oriental Bhd’s wholly-owned subsidiary Radiant Kiara Bhd to acquire a 4,651 sq m plot of land in the city for RM103 million.

KUALA LUMPUR: UOA REIT’s management company branch UOA Asset Management Sdn Bhd is buying 16 office suites in Wisma UOA II in Jalan Pinang in the Kuala Lumpur City Centre here from Instant Yield Sdn Bhd.

SHAH ALAM: The High Court here on Dec 21, 2009 has ordered Sri Aman Development Sdn Bhd, the developer of Paramount View Condominium in Petaling Jaya to continue building the temporary access road in Jalan SS1/25 to the condominium until the permanent access road in Jalan 22/44D is completed.

PENANG: The Penang Development Corporation (PDC) and YTL Land & Development Bhd has signed an agreement to develop luxury apartments on a 1.38-ha site in Lebuh Farquhar here.

KUALA LUMPUR: The Real Estate and Housing Developers’ Association Malaysia (REHDA) Kedah/Perlis branch will seek a meeting with Kedah Menteri Besar, Datuk Seri Azizan Abdul Razak after the first week of January 2010 to discuss the indefinite suspension of Kedah’s land swapping policy, says a Rehda branch spokeperson.

BEIJING: China may increase the downpayment for people buying their second homes to 50 percent from the current 40 percent to cool the red-hot housing market, a local newspaper reported on Monday Dec 21, 2009, citing unidentified sources.