KUALA LUMPUR: The proposed acquisition of the 21.7 acres of land by Paramount Corp Bhd for RM62.4 million will not affect the Monfort Boys Town, says John S C Loh, the property consultant for the Titular Superior of the Brothers of Saint Gabriel, founder of The Monfort Boys Town in Shah Alam.

KUALA LUMPUR: Berjaya Land Bhd (BLand) on Nov 4 announced the receipt of its investment certificate from the licensing authority in Vietnam for its NTNC Project, which is to be managed by Nhon Trach New City Centre (Berjaya NTNC Ltd). Berjaya NTNC Ltd is a newly incorporated wholly owned subsidiary of Berjaya Leisure (Cayman) Ltd in Vietnam.

KUALA LUMPUR: Hektar Real Estate Investment Trust (REIT) on Nov 4 posted a 7% increase in revenue of RM66.3 million for the cumulative 3Q2009 compared with the preceding year’s corresponding period. Revenue for 3Q2009 reached RM22.57 million, or 1.8% higher over the preceding quarter.

KUALA LUMPUR: The serviced apartment market continues its positive albeit slow growth in Guangzhou for the third quarter of 2009, states Colliers International 3Q2009 report on Guangzhou’s Serviced Apartment Market. Also, occupancy is at 100%, thanks to the increasing number of embassy workers and their families settling in the city.

KUALA LUMPUR: The move by some banks to raise mortgage rates for new applications since this week would not have an adverse impact on the mass residential segment, according to HwangDBS Vickers Research.It said on Wednesday, Nov 4 the mass residential segment will be less affected as those who need to buy properties would still do so.

PETALING JAYA: Mah Sing Group Bhd plans to develop a world-class integrated commercial hub on a land it recently acquired from Panasonic HA Air-Conditioning (M) Sdn Bhd, the deputy COO of Mah Sing Properties Sdn Bhd Teh Heng Chong said.

PETALING JAYA: The re-introduction of real property gains tax in Budget 2010 will have a significant impact on the public, said PricewaterhouseCoopers Taxation Services Sdn Bhd executive director Ng Say Guat.

KUALA LUMPUR: The government will adjust the 5% real property gains tax (RPGT) proposed in Budget 2010 if necessary after considering feedback on the tax.

Deputy International Trade and Industry Minister Datuk Mukhriz Mahathir said it was still too early to see what kind of effect the RPGT will have on the property market.

SYDNEY: Australia raised its benchmark interest rate by a quarter percentage point for a second month, becoming the first nation to increase borrowing costs twice this year as the global economy recovers.

KUALA LUMPUR: Property developer Sunrise Bhd and financial services provider CIMB Group have launched a joint customer loyalty scheme that leverages on each other’s branding prowess to secure recurring business from existing clients.