KUALA LUMPUR: Hap Seng Consolidated Bhd is buying a 50% stake in Menara Citibank for RM303.5 million from Singapore's CapitaLand Ltd and Amsteel Corporation Bhd.Hap Seng said on Aug 7 it was acquiring CapitaLand's entire 30% stake in Inverfin Sdn Bhd -- owner and operator of the 50-storey building in Kuala Lumpur. It was also acquiring the entire 20% stake in Inverfin from Amsteel.

KUALA LUMPUR: The pain gripping the world's rated and unrated commercial real estate companies seems far from over, with significant challenges remaining, Standard & Poor's Ratings Services said.In a report issued on Aug 7, entitled "Global Real Estate Companies Weather Stormy Period, But Still Face Tough Times",S&P credit analyst Craig Parker said the still-challenging credit market an

KUALA LUMPUR: Property stocks may be regaining their lustre as sales showed a pickup in the second quarter (2Q) of the year, fuelling hopes developers could make a turnaround in earnings faster than expected.According to ECM Libra Research, the KLCI property index had gained 4.9% in June, with all property stocks under its coverage in positive territory. However, total property sales in 1Q09 re

Change can be difficult after 45 years of doing the same thing.

What is a dream home? While the answer may differ from person to person, the haven/The Edge My Dream Home Awards recognise homes that are one of a kind and outstanding in design.

Impiana Group is generally known more as an owner of hotels, such as the Impiana KLCC in Kuala Lumpur, Impiana Resort Cherating in Kuantan and several hotels in Thailand, than as a property developer. However, the group — through its subsidiary, Rimbunan Raya Sdn Bhd — has been active on the property development scene in Ipoh for a number of years.

The government has once again sent a strong signal of its desire to promote Malaysia as an international real estate investment hub.

2Q home sales exceed entire 2008 figure The total number of new homes sold in 2Q2009 exceeded that in 2008, says Li Hiaw Ho, executive director of CBRE Research. URA data shows that 4,654 new homes were sold in 2Q, compared with 4,264 sold for the whole of 2008.

An estimated RM1 billion worth of Selangor State Development Corporation (PKNS) homes will be offered for sale this year. A series of home ownership campaigns introduced since February has shown encouraging sales.

Development charges cut again More than half (68 out of 118) the commercial use group will see development charges (DC) fall following the revision by the Ministry of National Development. Overall, the commercial group DC rate has dropped an average of 3.9% this round (Sept 1, 2009 to March 31, 2010) compared with the average decrease of 4.4% in March 2009.