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China to limit credit to counter property speculation

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.

PHH to embark on RM100 mil luxury condo project

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.

What’s behind Ho Hup’s surge?

KUALA LUMPUR: Investors following recent developments in Ho Hup Construction Co Bhd would be wondering whether the company’s share is really worth its current trading price of almost RM2, or four times higher compared to a month ago.

BIG gets commission to design education facility on Faroe Islands

KUALA LUMPUR:  Danish architectural firm BIG (Bjarke Ingles Group) in collaboration with a group of consultants including Fuglark Architects, Lemming & Eriksson, Samal Johannesen, Martin Leo and KJ Elrad, have won a competition to design the Faroe Islands Education Centre recently.

Construction sector to peak by 3Q to 4Q2010

KUALA LUMPUR: The construction sector is expected to peak between the third and fourth quarter of this year on the anticipation of a full rollout of three mega projects, says HwangDBS Vickers Research.

Australia home building a boon for economy

SYDNEY: Approvals to build new homes in Australia jumped a surprisingly strong 5.9% in November, further evidence of a construction boom that will increasingly foster growth.But Wednesday's data failed to sway market expectations which remain evenly split over whether the Reserve Bank of Australia (RBA) would raise rates again next month, with investors awaiting key job and inflation data due l

Prinsiptek Corp Bhd to sell Gombak land

KUALA LUMPUR: Strategic Development Sdn Bhd (SDSB), a wholly-owned subsidiary of Prinsiptek Corp Bhd (PCB) has entered into a into a conditional sale and purchase agreement with investment holding company, Creme De La Creme Couture Sdn Bhd for the proposed disposal of a 99-year leasehold land at Taman Selaseh, Gombak on Dec 31, 2009, PCB announced Jan 5.