LOS ANGELES: Hoping to prevent the famed view of the Hollywood sign from being spoiled by development, a group set out on Tuesday Feb 9 to raise US$5 million to buy a nearby hilltop peak once owned by billionaire Howard Hughes.

LONDON: British Land's surprise 18% rise in net asset value lifted spirits among property landlords and lenders on Feb 9, but is unlikely to muffle doomsayers who claim a pricing bubble is already in prospect.

HONG KONG: The Hong Kong property market has risen too fast and buyers must look out for a bubble, according to Justin Chiu Kwok-hung, Cheung Kong (Holdings) executive director. "The rise is a bit unusual," Chiu said on Feb 8. "There should be a correction at some point."

SYDNEY: LaSalle Investment Management is seeking local partners to invest in Australian property developments and boost returns for its US$3 billion (RM10.32 billion) opportunity fund, a top executive said on Feb 9.

XINYANG, China: Fan Wenbao swears he is not in the business of speculating on property. Already the owner of one home in Xinyang, a grimy city in the poor central province of Henan, he bought two more there last year.

"It's an investment not to make money but to save money. Interest rates in the bank are too low," said Fan, a real estate agent in a shiny silver suit.

SHANGHAI: A piece of land located strategically close to China’s famous Nanjing Road in Huangpu District measuring 13,709 sq m has been auctioned on Feb 8 at 3.41 billion yuan (RM1.72 bilion). The land is known as the most expensive plot of land in China, according to Shanghai Daily.

HONG KONG: Sales activity and leasing demands in Asia-Pacific are expected to improve in 2010, according to Colliers International.

MIRI: Sarawak is introducing an urban renewal policy aimed at re-developing certain sections of cities and towns in the state that have turned into slums.

State Housing and Urban Development Minister Datuk Amar Abang Johari Tun Openg said on Feb 9 the policy included re-developing deplorable housing estates to

make way for better and environment-friendly neighbourhoods.

With its KL Sentral project due for completion in a few years, it is crucial for MRCB to formulate a new strategy in order to continue its legacy in the property sector.

19.18ac freehold industrial land acquired in HICOM Industrial Estate, Shah Alam, making it Mah Sing Group’s (MSGB) first acquisition for the year and the 6th local landbank purchase in the last six months. The land was acquired from Quill Industrial Properties Sdn Bhd for a purchase consideration of RM45.5 million.