PETALING JAYA: Johor-based developer, Daiman Development Bhd, has no immediate plan to redevelop the property it recently acquired in Setapak, Kuala Lumpur and would keep it for recurring income.

KUALA LUMPUR: Development land values in the United Kingdom is around 20% down year-on-year (y-o-y) while urban sites are at almost 50% below peak levels despite a marginal increase in two quarters in a row, reported Knight Frank in its Residential Development Land Index, Q3 2009.

KUALA LUMPUR: The Genting group is teaming up with New York-listed Simon Property Group to venture into upscale outlet shopping in Malaysia under the Chelsea Premium Outlet Centres concept.Genting said on Wednesday, Sept 30 that its 54.7%-owned Genting Plantations Bhd's unit Azzon Ltd had signed a joint venture agreement with Simon's Chelsea Malaysia LLC to establish the centres.Under the JVA,

SYDNEY: Australian home-building approvals unexpectedly fell in August, a sign the effect of government stimulus measures may be waning.

PETALING JAYA: Not enough is being done by the government to promote the sale of Malaysian properties to foreign buyers, Glomac Bhd's Chief Executive Officer Datuk Fateh Iskandar Tan Sri Mohamed Mansor said.

He said among countries in the Asian region, Malaysia has the best rules and guidelines that favoured sale of properties to foreigners and yet take-up was declining.

SHAH ALAM: The Selangor State Executive Councillors (EXCO) has instructed the Gombak District Office (DO) to issue Form 8, or Notice of Reversion to forfeit the site of an illegal landfill in Kampung Sungai Kertas, Gombak from the site’s four owners.

KUALA LUMPUR: TFP Solutions Bhd has proposed to dispose of two units of 4-storey shopoffices in Bandar Puteri, Puchong. The company is listed on the ACE market on Bursa Malaysia.

KUALA LUMPUR: JAKS Resources Bhd saw its net profit for the third quarter ended July 31, 2009 (3QFY09) plunge 86.17% to RM214,000, from RM1.55 million the previous year, despite higher revenue. The dip was due to the weakened selling price for steel related products.

KUALA LUMPUR: Crescendo Corp Bhd’s net profit for the second quarter ended July 31, 2009 dropped by 21.44% to RM5.73 million, from RM7.3 million a year earlier on lower sales of properties and concrete products.

The company said in a filing to Bursa Malaysia on Sept 30 that the concrete products margin is squeezed mainly due to materials cost fluctuations.

KUALA LUMPUR: Mah Sing Group Bhd has been awarded the “Best Developer” in the Euromoney Real Estate Awards 2009. This is the second year running that the Group has been won the title.