PENANG: Penang Regional Development Authority (Perda) chairman Datuk Azhar Ibrahim said there was no truth in what was claimed by the Penang government on a proposed development plan in Balik Pulau.

SHAH ALAM: Certain industrial and older housing enclaves in Petaling Jaya (PJ), Klang and Kajang have been identified for redevelopment in a bid by the Selangor state government to enhance their land value and to create a stimulus for the state.

KUALA LUMPUR: Kejuruteraan Samudra Timur Bhd (KSTB) sold its 5-storey office and shop in Bangsar Utama to Lipids Terminal Sdn Bhd for RM3 million.

In a filing to Bursa Malaysia on Nov 9, its wholly-owned subsidiary, Samudra Timur Sdn Bhd, had on Nov 6 signed a sale and purchase agreement with Lipids Terminal to dispose of the unit, measuring approximately 1,808 sq ft.

KUALA LUMPUR: Demand for office space is on the rise as vacancies in core districts in Hong Kong start to drop. Rents are also showing a rise in September following narrowing rental declines for three consecutive months, according to Knight Frank in its Hong Kong Prime Office monthly report for October 2009.

KUALA LUMPUR: Tiong Nam Logistics Holdings Bhd acquired three parcels of land, totaling 130,998 sq ft, in Melaka Tengah for RM2.1 million.

KUALA LUMPUR: UEM Land Bhd is disposing of two parcels of land in Puteri Harbour for RM26.7 million to Khazanah Nasional Bhd's Themed Attractions and Resorts Sdn Bhd (TAR).

UEM Land said Nov 9 that under the sales and purchase agreement, UEM Land would be appointed as the development manager to supervise, manage and oversee the overall development of the land.

KUALA LUMPUR: Singapore is mulling more measures to avert a property bubble on concerns of renewed escalation of speculative momentum.
The Monetary Authority of Singapore (MAS) said on Monday, Nov 9 that despite the lingering uncertainties in the domestic and global economy, domesticproperty market activity has taken on its own dynamic.

KUALA LUMPUR: Cluttons’ commercial property outlook report for the UK published October 2009 for its 3Q performance sees high demand in prime locations but not those on the secondary market.

PETALING JAYA: The imposition of the 5% Real Property Gains Tax (RPGT) is pouring cold water on plans by some people to acquire property next year. 

WELLINGTON: New Zealand house prices rose in October for the first time in 16 months as the economy emerges from a recession.

Prices increased 0.2% from a year earlier, the first annual gain since June 2008, Quotable Value New Zealand Ltd, the government valuation agency, said in an e-mailed report. Prices have risen 3.4% since falling to a low in April.