KUALA LUMPUR: The Selayang Municipal Council (MPS) has ordered the developer of the housing project near the land slip in Jalan JU5/5, Taman Jasa, Batu Caves to take immediate steps to prevent a recurrence of the incident.

Its deputy president Juhari Ahmad said the order was issued after a discussion with the developer on the evening of Nov 10.

MUMBAI/HONG KONG: Asia's policymakers are sticking with surgical steps to contain asset price inflation, but may soon have to turn to much more aggressive action if property bubbles keep inflating.

LOS ANGLES: US home sellers with properties on the market as of Nov 1 had slashed asking prices by US$28.1 billion (RM95.1 billion) as they sought to attract buyers, Trulia Inc said.

KUALA LUMPUR: Over 2,000 people visited the Iskandar Malaysia Pavilion during Cityscape Dubai held on Oct 5 to 8, 2009, said Iskandar Regional Development Authority (IRDA) chief executive officer Harun Johari.

HONG KONG: China’s housing market is likely to face increasing policy risks in 2010, according to Knight Frank’s latest report. Aside from tightening the mortgage lending terms for secondary residences, Beijing’s banking regulator has required commercial banks to extend mortgage loans on whichever is lower; bank valuation or stated transaction price.

PETALING JAYA: Despite the revival of international buyer interest, it is the return of the UK buyer that is driving the strong price growth in recent months, particularly those employed in the “City”, according to the Knight Frank Prime Central London Index for October 2009.

SYDNEY: Real estate investment firm Aviva Investors sees a recovery in Asian property markets in the next two years and is looking to boost the region's share of its asset portfolio to 25% over the next five to 10 years.

NEW YORK: The price of Bernard Madoff’s former penthouse apartment in Manhattan was cut by US$1 million (RM3.39 million) to US$8.9 million after almost two months on the market.

NEW YORK: JPMorgan Chase & Co, the third- largest home lender in the US, said it plans to hire 1,200 mortgage officers to prepare for a recovery in the housing market.

KUALA LUMPUR:  Crest Builder Holdings Bhd's unit has secured a RM145.3 million contract to build the superstructure of a 35-storey office tower along Jalan Ampang in Kuala Lumpur.
The contract, awarded by Khor Joo Saik Sdn Bhd, is for 24 months and it is expected to be completed by Nov 11, 2011.