In line with the general improvement in the economy and pickup in consumer confidence in recent months, several auctioneers in the Klang Valley are reporting that auction property sales have been edging up since June.Licensed auctioneer Zaarif Zainal of First Auction House Sdn Bhd says sales have increased about 20% starting in June as he managed to sell 18 units priced below RM200,000 in two a

Real estate investment trusts or REITs are nothing more than real property investments to investors like you and me who leave the administration of the assets, the maintenance of the buildings, the collection of rent and the enhancement of real estate to increase its value to the professionals. We also allow a trustee to own the real estate on our behalf.

KUALA LUMPUR: S P Setia Bhd posted net profit of RM42.68 million for the third quarter ended July 31, 2009, up 4.45% from the RM40.86 million a year ago mainly to the strong sales recorded from its 5/95 home and commercial ownership campaign.Announcing its results on Sept 17, it said the effects of the campaigns were beginning to be reflected in the group’s financial performance which had helpe

KUALA LUMPUR: UEM Land Holdings Bhd is venturing into the biotechnology sector via its partnership with Malaysian Biotechnology Corp Sdn Bhd (BiotechCorp), a company owned by the Minister of Finance Inc.UEM Land said on Sept 17 the proposed JV will allow UEM Land to take part and speed up the development of the biotechnolgy projects, providing property development expertise and leveraging on th

KUALA LUMPUR: Confidence in the Malaysian property market has been at the highest level since May 2008, with property developers feeling increasingly positive about the outlook of the broader economy, said property website Thinkproperty.my.In a statement yesterday, Thinkproperty.my said its property index in August 2009 rose sharply again from 41% at the beginning of the month to 59% at the end

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.