FOSHAN (China): Mapletree Investments Pte Ltd says its US$342 million (RM1.15 billion) Nanhai Business City (picture) development in Guangdong Province, China, is an opportunity for the company to scale up its business in the Pearl River Delta in addition to complementing Foshan’s growth.

KUALA LUMPUR: Plenitude Bhd plans to launch six new projects with a gross development value (GDV) of RM280 million in its financial year ended June 30, 2010.

Its executive chairman, Chua Elsie said the group has outlined several launches that includes the first ever bungalow development at Taman Desa Tebrau, Johor.

KUALA LUMPUR: YTL Corp Bhd plans to embark on a restructuring of the RM8 billion real estate investment trust (REIT) and hotel portfolio under its control.

The restructuring exercise will rationalise YTL Corp's retail and hotel asset portfolio by repositioning Starhill REIT as a global hospitality REIT, said its managing director Tan Sri Francis Yeoh.

KUALA LUMPUR: TA Enterprise Bhd's hotel sector earnings are expected to triple in financial year ending Jan 31, 2011 (FY2011), following recent acquisitions including 4-star hotel Swissotel Merchant Court Singapore, that received shareholder approval at an EGM on Nov 18.

SHAH ALAM: The public can obtain the declassified investigation report on the Taman Bukit Mewah, Bukit Antarabangsa landslide which caused five deaths and millions in damages, on Monday, Nov 23, said Selangor Menteri Besar Tan Sri Abdul Khalid Ibrahim on Nov 18. 

LONDON: The take-up of banking office space over the last six months in the UK’s capital city has been the best-performing in Europe, which has seen a 53% decline in take-up in 2Q and 3Q, says global property consultants Cushman & Wakefield.

PETALING JAYA: I&P Group Sdn Bhd, a wholly-owned subsidiary of Permodalan Nasional Bhd (PNB), will launch two residential projects in its Alam Impian township, Shah Alam on Nov 21.

LONDON: Private US investment firm Starwood Capital Group Global L P said funds it manages have been used to purchase City Tower building at 40 Basinghall Street in central London from Prudential Property Investment Management.

LONDON:  Property consultants say optimism is returning to central London hotel assets with 12 proposals put forth by foreign and local investors for prominent hotel and residential development 336-337 Strand when it closed for receipts last week.

HONG KONG: The southern Chinese city of Shenzhen will introduce a property tax, Fan Gang, an adviser to the People’s Bank of China, said at a business conference in Hong Kong on Nov 18. “Shenzhen is supposed to, as a pioneer, introduce the property tax,” Fan said. “That’s a very important step to balance demand for investment and demand for consumption.” – Bloomberg LP