NEW YORK: US commercial real estate values fell more than 21% in the first nine months of this year, as the highest unemployment since 1983 weakened demand, Investment Property Databank Ltd (IPD) said on Nov 16.

KUALA LUMPUR: Colliers International’s latest October 2009 quarterly update sees office markets in Asia-Pacific showing encouraging signs of recovery during 3Q2009. Due to the improvement of global economic fundamentals, there are positive indications of market stabilisation and improvement in market confidence.

KUALA LUMPUR: Pulai Springs Bhd has entered into a proposed joint venture with four companies incorporated in China to jointly bid for the acquisition and development of a 280-acre land located at the Guandu district in Kunming, China.

KUALA LUMPUR: KLCC Property Holdings Bhd's net profit rose 3.6% to RM97.17 million in its second quarter (2Q) ended September 2009, from RM93.81 million in the same period a year earlier, helped by lower operating and finance expenses. Revenue fell 1% to RM214.99 million from RM216.86 million, the company told Bursa Malaysia on Nov 16.

KUALA LUMPUR: Glomac Bhd’s wholly-owned subsidiaries Glomac Kristal Sdn Bhd and FDM Development Sdn Bhd have entered into two sale and purchase agreements (SPAs) for the acquisition of approximately 7.62 acres of leasehold land in Pekan Kayu Ara, Daerah Petaling, Selangor for RM31,159,875.

PENANG: The Penang state executive council meeting on Nov 20 will deliberate on declassifying the official minutes on the conversion of a parcel of land on the island which has become a subject of controversy, said Penang Chief Minister Lim Guan Eng.

KUALA LUMPUR: AmResearch is maintaining its “overweight” call on the construction sector, where order book visibility should improve in the coming months as it expects up to RM62 billion worth of select cornerstone projects to be rolled-out over the next six to 12 months.

KUALA LUMPUR: Investment in Iskandar Malaysia remains positive despite the challenging economic environment with a total cumulative committed investment of RM50.5 billion since its launch three years ago.

SINGAPORE: Ho Bee Group and MCL Land officially launched Parvis on Holland Hill on Nov 13. Some 51 of the 248 condominium units have already been snapped up during private previews over the weekend of Nov 7 and 8. Another 10 were sold on Nov 13.

BEIJING: Housing prices in China will keep rising next year, helped by a renewed surge in bank lending and stronger inflationary expectations, the government's top think-tank said on Nov 16.