PETALING JAYA: The EMKAY Group expects to some 8% rental yield from its new corporate office tower Menara Mustapha Kamal in Damansara Perdana in Petaling Jaya beginning FY2011.

Purchased for some RM85 million, Menara Mustapha Kamal is a 21-storey grade A office building which houses the Group's corporate office and of its subsidiaries.

KUALA LUMPUR: Crossborder Team (M) Sdn Bhd, a wholly owned subsidiary of Magna Prima Bhd (MPB), has entered into a sale and purchase agreement with Muafakat Kekal Sdn Bhd to acquire a piece of leasehold land in Selayang for a purchase consideration of RM16.5 million.

HONG KONG: Hong Kong will track property prices and could increase land supply for residential development, Chief Executive Donald Tsang said on Oct 14, as record prices for luxury flats raise concerns about a possible property bubble.

ST CHARLES, Illinois: Despite some signs that the worst of the US residential housing crisis may be over, many wealthy homeowners are still being squeezed by the combination of weak home prices and the stock market crash.

HANOI: Berjaya Land Bhd got a Vietnamese investment license for a US$2 billion (RM6.75 billion) urban development, the Dau Tu newspaper reported on Oct 14, without saying where it got the information.

WELLINGTON: New Zealand's housing sector recovered to its best position in a year in September and the central bank said it would end some emergency support measures amid an improving economy, bolstering expectations of interest rate rises early next year, according to Reuters.

TOKYO: The number of new apartments put up for sale in the Tokyo area rose 26.2% in September from a year earlier for the first rise in 25 months, a property market research firm said on Oct 14.

According to the Reuters report, the data is a bright sign for Japan's property market, which had been hit hard as Japan was stuck in its worst recession since World War II.

KUALA LUMPUR: Developer Magna Prima Bhd through its wholly owned subsidiary, Winicon (M) Sdn Bhd, has completed the acquisition of Ibsul Development (Sel) Sdn Bhd (IDSB) on Oct 9.

PERTH: Holiday Inn City Centre in Perth, owned by Eureka Funds Management Pty Ltd, has been sold to a local investor syndicate for A$44 million (RM136 million), said to be the first major hotel transaction in the Perth CBD since the 2007 sale of the Citigate hotel for A$52 million.

PETALING JAYA: Increasingly, more UK developers are eyeing Malaysian investors for their projects, and the latest is Weston Homes plc. The developer is promoting Bridges Wharf, a mixed residential project comprising three apartment towers with a total of 266 units. Unit sizes range from 450 to 2,000 sq ft and the development is said to boast state-of-the-art fittings.