KUALA LUMPUR: The announcements on Dubai World’s debt restructuring and the Vietnamese dong’s devaluation hit world markets late last week. Malaysia was not spared, with some construction companies, perceivably with the most direct exposure, falling -9.2% since last Wednesday (compared to a -0.1% fall in the KLCI).

NEW YORK: A recovery of the US hotel industry isn’t likely until 2011 because room rates remain low and commercial real estate values have plunged, Fitch Ratings said.

MADRID: Home prices in Spain must fall 27% more before values become attractive and the glut of 1.5 million residences begins to be absorbed, according to Aguirre Newman, a Madrid-based property consultant.

KUALA LUMPUR: WCT Bhd has been awarded a works contract under the proposed development of the new low cost carrier terminal (LCCT) and associated works at the KL International Airport in Sepang, Selangor. The contract with a value of RM363 million was awarded by Malaysia Airports Holdings Bhd.

KUALA LUMPUR: Works Minister Datuk Shaziman Abu Mansor reiterated on Dec 2 that it is the Cabinet that will decide whether to declassify the Bukit Antarabangsa landslide report.

BEIJING: Investors from the eastern Chinese city of Wenzhou, widely known for their "shopping trips" to target global real estate markets, have gotten burned in Dubai, the desert oasis turned to mirage.

KUALA LUMPUR: Mah Sing Group Bhd is teaming up with China's Danlong Realty (Beijing) Ltd to undertake a mixed development property project in Jiangsu province, with an estimated investment cost of US$620 million.
The company said on Wednesday, Dec 2 the project would be undertaken on an 87.31 acres site, west of Wuyi road in the Wujin district.

KUALA LUMPUR: Mah Sing Group Bhd has proposed to acquire 13,694.94 sq metres of prime freehold land in Pykett Avenue, Georgetown, Penang for RM38.65 million.
The property developer said on Wednesday, Dec 2 the proposed acquisition of the land, measuring (147,416 sq ft or 3.38 acres), was for about RM262.19 per sq ft.

KUAL:A LUMPUR: Regroup Associates Sdn Bhd has signed an affiliate agreement with global real estate services company, CB Richard Ellis Group Inc (CBRE).