KUALA LUMPUR:Sunrise Bhd executive deputy chairman Datuk Allan Lim Kim Huat was appointed managing director of Gefung Holdings Bhd after he acquired 25.19% equity stake in Gefung Holdings Bhd.Gefung said on Sept 15 that Lim, 50, had acquired the stake, comprising of 39 million shares via an off-market deal on the same day from former managing director and major shareholder, Seo Aik Leong.Lim is

SINGAPORE: The selling pressure on property shares could persist in the near term after the Singapore government announced on Monday that certain property measures would be undertaken to ensure a sustainable property market.According to a CIMB-GK Research report on Sept 15, it anticipated values to re-emerge from the measures.

KUALA LUMPUR: Hua Yang Bhd plans a mid to high-end township project with gross development value (GDV) of RM350 million near its current project in Taman Pulai Indah, Johor.

KUALA LUMPUR: Magna Prima Bhd is acquiring two pieces of land, totalling 28,148 sq metres in Petaling Garden from Petaling Garden Sdn Bhd for RM48.48 million.

Magna Prima says the first piece of land was 16,790.363 sq m (180,736 sq ft) while the second piece measures 11,358 sq m (122,260 sq ft) together with a row of 15 single-storey lock-up shops at Jalan 5/44 Petaling Garden.

KUALA LUMPUR: The Housing and Local Government Ministry launched a new initiative called the Housing Revival Initiative (HRI) today. The initiative is aimed at tackling the problem of abandoned housing projects.

PUCHONG: LBS Bina Group Bhd has launched its latest project, Town Villa @ Taman Tasik Puchong, which will be developed over three phases.

With its affordable pricing from RM180,000 as well as the strategic location, the project has seen overwhelming response, with some 97% of 104 units under Phase 1 being fully sold within three weeks after the soft launch.

KUALA LUMPUR: Syarikat Prasarana Negara Bhd, the sole asset holder for the entire Klang Valley and Penang public transport system, is budgeting between RM6 to RM7 billion to extend the existing light rail transit (LRT) lines in operation. Prasarana group managing director Datuk Idrose Mohamed however, the amount could vary once the public display of the alignment ends in three months.

KUALA LUMPUR: The real estate investment market in Asia Pacific will be boosted in the coming months by high-net-worth individuals, local companies and wealthy families as liquidity is expected to remain plentiful in the system, according to a quarterly bulletin released by Colliers International.

SHANGHAI: Local investors are more aggressive in seizing opportunities compared with foreign investors who are shackled by various restrictions in 2Q2009, according to a report by an international real estate organisation.

GUANGZHOU: Despite the shrunken demand for retail space due to the global financial crisis, units in prime areas continue show resilience in 2H2009.