KUALA LUMPUR: Hua Yang Bhd’s net profit for the third quarter ended Dec 31, 2009 (3QFY2010) jumped 32.9% to RM2.75 million from RM2.07 million the previous year, on higher revenue achieved.

KUALA LUMPUR: Following the uproar over the Parliamentary expenses scandal in the UK, the practice of “flipping” second homes is likely to be outlawed while the rate of capital gains tax may revert to parity with higher rates of income tax, said Shelagn Burke, an associate at Cluttons property consultancy on Jan 18.

KUALA LUMPUR: The sale tender for MIM Management House, which is located beside The Royal Embassy of Thailand along Jalan Ampang in Kuala Lumpur closed on Jan 12.

The call for tender began early December, with CH Williams Talhar & Wong Sdn Bhd as the exclusive agent handling the sale. Results of the tender have not been announced.

NEW YORK: Manhattan office vacancy rate showed a decline of 11.1% at the end of December 2009, according to Cushman & Wakefield’s year-end data on the Manhattan commercial real estate market. This is the second consecutive monthly decline and an important sign of stability.

KUALA LUMPUR: Demand for properties in Hong Kong is expected to rise further and prices are expected to rise by about 10% to 15% in the months ahead, according to Colliers International, a global real estate services company.

WASHINGTON: The US Federal Housing Administration said on Jan 19 it will raise the minimum down payment required to secure an FHA-backed mortgage for less creditworthy borrowers as part of a series of steps to shore up the agency's finances.

SINGAPORE: Shanghai and Hong Kong property prices may fall after being driven higher by speculative demand, said investor Jim Rogers, author of A Bull in China.

KUALA LUMPUR: Genting Bhd plans to build a theme park and hotel within the Iskandar region in Johor to complement the group’s Resorts World Sentosa attraction in Singapore, said its chairman Tan Sri Lim Kok Thay.

KUALA LUMPUR: Sun Hung Kai Properties, one of Hong Kong’s largest property companies, held a groundbreaking ceremony for its first large integrated development in Suzhou, Jiangsu Province, last week (Jan 15).

KUALA LUMPUR: CapitaLand Ltd., Southeast Asia’s biggest developer, further increased its presence in China when it reached an agreement to buy the Chinese property assets of Orient Overseas (International) Ltd for US$2.2 billion (RM7.34 billion).