REAL estate agents are being sought to provide asset valuation services for Cambodia’s new stock exchange, set to launch next year.
The Security and Exchange Commission of Cambodia will today put for public consultation a new draft prakas on the accreditation of companies providing asset valuation services in the securities sector.
Buyers of constructions worth more than $25,000 are set to pay new levy if Ministry schedule goes ahead as planned
THE government is set to launch a new property tax by the end of this year, officials at the Ministry of Economy and Finance said Monday, in a move which has reportedly sparked protest in Cambodia’s capital.
Rental rates in Grade A ranged from US$20 to $30/m². Rental price also drop about 10% in Q1-2010. Occupancy rate is about 30% to 40%.
Rental rates in Grade B ranged from US$8 to US$15 and average rent dropped by 10% to 25% in 2009. The average rent price in Q1-2010 is US$11.86/m² it drop about 1%. The occupancy in average is 68%
The data of grade C is difficult to gather because those office building are developed by local and operated by their own
CPP and SRP clash over total area of economic concessions
THE National Assembly began debating a long-awaited draft law on foreign property ownership Thursday, sparking a dispute between the government and the main opposition Sam Rainsy Party over the exact extent of land concessions already awarded in the Kingdom.
SRP Lawmaker Son Chhay accused the government of approving 2.3 million hectares of economic concessions in the country, more than double the official 950,000 hectares reported by the Cambodian People’s Party.
Locals in Bavet,on the border with Vietnam, watch performances at the launch of the US$100 million Titan King Resort and Casino complex owned by Royal Group Vice President Kith Thieng. Employing 500 people, the casino will increase competition in the gaming sector after a year in which revenues slumped on the back of the global economic crisis. ... read more
Residential building approvals down 47pc
Friday, 19 February 2010
THE value of investments approved by the government for residential property declined an annualised 47 percent in 2009.
According to official figures released by the Ministry of Land Management, Urban Planning and Construction Thursday, it approved 2,836 projects in 2009 worth an estimated US$201 million, compared with the 7,220 developments worth $381 million approved in 2008 – a decline in value of 47.2 percent.
THE Ministry of Economy and Finance has told property developers to apply for a new real estate development licence from February 1, an official said Monday, following the passing of a prakas, or edict, last month on the management of property.
Firms in the industry would be given until the end of next month to apply, Norng Piseth, chief of real the finance ministry’s Real Estate Division told the Post, adding that firms that failed to apply would be shut down.
Economist predicts no recovery for dubai property prices in 2010
Friday, 30 October 2009
There will be no recovery in the Dubai property market in 2010 with prices falling up to 30% in 2010, according to an economist who accurately predicted the credit crunch.
Eckart Woerts, a senior economist at think tank the Gulf Research Centre who is currently lecturing at Princeton University in the US, said the global economy is in for a big surprise and as a result the already depressed real estate sector in Dubai faces more misery.
‘Are we out of the woods in Dubai? I don’t think so.
The real estate sector in Phnom Penh is experiencing a minor revival, though at prices significantly lower than they were during the 2008 property boom, real estate agents said yesterday.
People are again buying property but unlike the unchecked speculation of last year, buyers are only fulfilling commercial or personal needs, realtors said.
Sung Bonna, president of Bonna Realty, said that while properties are still hard to sell on the outskirts of Phnom Penh, real estate around Norodom Boulevard and other central locations is again in demand but at far lower prices than in recent years.
“People started buying in the last quarter, and this quarter, this month people are starting to buy but they are buying at the real bottom price,” Mr. Bonna said.
CEO of Bonna Realty Group & President of National Valulers Association of Cambodia
Sung Bonna, CEO and President of Bonna Realty Group, has had long experience in Cambodian real estate. As President of National Valuers Association of Cambodia he has an important role is working with the government to develop the real estate sector, and, with his clear and honest appraisals of the sector’s potential and shortcoming, he has become a valuable source to the media.
Song Bonna discussed the current state of the real estate market and its future prospects with Economics Today’s Chhun Kosal.
LAND values are continuing to drop in Phnom Penh according to figures from the National Valuers Association of Cambodia, but an analyst has warned that the numbers need to be interpreted with caution given the paucity of land sales.
Valuers Association President Sung Bonna said research showed commercial and residential land was worth between 3 percent and 6 percent less in the third quarter compared to the previous three months. He warned that values were likely to continue to slide.
Leading agency Bonna Realty Group says that land prices fell about 50 percent from previous year in first six months of 2009
LAND prices in Phnom Penh have dropped by almost half from the first six months of 2008 according to figures released by a leading realtor.
Sung Bonna, president and CEO of Bonna Realty Group, said commercial land in the city centre was around 46 percent lower in the first six months of this year compared to a year earlier. Prices had dropped from an average US$5,050 per square metre to $2,750, he said.
Prices for residential areas showed a smaller decline, down 38 percent from $2,600 to $1,600 per square metre over the same period.
He said demand had picked up in the past couple of months after dropping to almost zero in the latter half of last year, but he did not expect prices to begin recovering until 2011.
PM pushes for property law to boost foreign investment
Monday, 22 June 2009
Hun Sen says that draft legislation allowing foreigners to own apartments will – once completed – give momentum to other sectors of the economy
PRIME Minister Hun Sen on Friday urged the Ministry of Land Management, Urban Planning and Construction to expedite the drafting of new rules that would permit foreign ownership of property in Cambodia.
In a press release issued by the Council of Ministers, Hun Sen said implementation of the rules would lead to an influx of foreign capital investment in the real estate and other sectors.
អ្នកជំនាញខាងអចលនទ្រព្យបានអះអាងថាភាពស្ងប់ស្ងាត់នៃទីផ្សារអចលនទ្រព្យនៅក្នុងប្រទេសដែលមានអាយុប្រហែលជាជិតមួយឆ្នាំនេះ កំពុងតែធ្វើឱ្យទីផ្សារអចលនទ្រព្យនៅក្នុងប្រទេសឈានទៅរកការដួលរលំ ហើយក្រុមហ៊ុនអចលនទ្រព្យប្រមាណជា៧០ភាគរយបានបិទទ្វារ ។ ... read more
A helping hand needed
Wednesday, 18 March 2009
A senior official says government is doing all it can after local agents urge Prime Minister Hun Sen to step in and help the troubled industry
A spokesman for local real estate agents is asking for a meeting with Prime Minister Hun Sen to make a case for government intervention in the property market in the hope of reversing a decline in sales and investment.
But the undersecretary of state for the Finance Ministry says such a meeting is unlikely.
Sung Bonna, the president of the National Valuers Association of Cambodia, made the public call for a half-day meeting between the prime minister and key industry figures at a meeting of business people Friday night at the Almond Hotel. He warned the country faced bankruptcies and mass layoffs if the government did not take steps to ease investor and buyer concerns.
THE president of the National Valuers Association of Cambodia urged the government to take steps to boost the property sector to prevent job losses it says could reach as high as 150,000. Speaking at the 2009 Cambodia Outlook Conference, Sung Bonna said that not just construction workers and realtors but also architects, engineers and workers in the construction materials supply chain were at risk if the government did not enact reforms to boost confidence in the sector.
Credible Partners Join Together for Cambodia’s incredible property market
Saturday, February 28, 2009
It is not hard to find out that there are many buildings in Phnom Penh area that the sound of hammers and rolling of concrete mixers have disappeared significantly last a few months. Many land lots have fancy fences to illustrate how wonderful the project is but it seems that there’s no activity.
Still there are a few sites that are still going strong. One of them is De Castle Diamond in Toul Kork district. De Castle was one of the first construction projects that brought about the insurgence of many Far East Asia style residential buildings. Deputy Director Park Jong Chen of De Castle Diamond stated that “The only way to survive and run development and construction company in this time and place is keeping the promise with my clients”
កាលពីថ្ងៃទី ០៦ ខែ កុម្ភះ ឆ្នាំ ២០០៨ នៅសណ្ឋាគារ កាំបូឌីយ៉ាណា មានកម្មវិធីបើកសម្ពោធ សមាគមអ្នក វាយតំលៃអចលនវត្ថុជាតិកម្ពុជាក្រោមអធិបតីភាព ឯកឧត្ដម ឧបនាយករដ្ឋមន្ដ្រី គាត ឈន់ រដ្ឋមន្ដ្រី ក្រសួង សេដ្ឋកិច្ច និងហិរញ្ញវត្ថុ ព្រមទាំងភ្ងៀវជាតិ និង អន្ដរជាតិ ប្រមាណ ២០០នាក់ ជាពិសេសមានការអញ្ជើញ ចូលរួមពីលោកបណ្ឌិត Lim Lang Yuang អគ្គលេខា ធិសមាគមអ្នកវាយតំលៃអាស៊ាន (Secretary General of Asean Valuers Association –AVA) និងជាប្រធាន អង្គការសមាគមវាយតំ លៃពិភពលោក (Chairman of World Association for Valuation Organization –WAVO) និង ឯកឧត្ដម ម៉ី វ៉ាន ប្រធាននាយកដ្ឋាន ឧស្សាហកម្មហិរញ្ញវត្ថុ និងជា ប្រធានក្រុមប្រឹក្សាភិបាលរបស់សមាគម ផងដែរ។ ... read more
ដំណើរទស្សនៈកិច្ចទៅកាន់ប្រទេសម៉ាឡេស៊ី
Saturday, February 28, 2009
កាល់ពីថ្ងៃទី ០៩-១២ ខែ កុម្ភះ ឆ្នាំ ២០០៩ កន្លងទៅនេះគណៈប្រតិភូមួយក្រុមពីប្រទេសកម្ពុជា ក្នុងនោះរួម មានមន្ដ្រីពីសួងសេដ្ឋកិច្ច និង ហិរញ្ញវត្ថុ មានឯកឧត្ដម ងី តាយី ឯកឧត្ដម ម៉ី វ៉ាន លោក នង ពិសិដ្ឋ និង មន្ដ្រីអមដំណើរមួយចំនួនទៀត និង លោក ស៊ឹង ប៉ុណ្ណា អគ្គនាយក ក្រុមហ៊ុន ប៊ុណ្ណា រៀលធី គ្រុប និងជាប្រធានសមាគមអ្នកវាយតំលៃអចលនវត្ថុជាតិកម្ពុជា លោក ចេង ខេង ប្រធានក្រុមហ៊ុន ស៊ីភីអិល និង លោក Eric Y H Ooi ជាអគ្គនាយករបស់ក្រុមហ៊ុន Knight Frank បានធ្វើទស្សនៈកិច្ចទៅប្រទេសម៉ាឡេស៊ី។ ... read more
Rental income is subject to withholding tax in Cambodia
Monday, February 23, 2009
Non-resident individuals are taxed only on their Cambodian-sourced income.
As a matter of practice, Cambodia’s tax administration can be divided into ‘non-real regime’ taxpayers and ‘real regime’ taxpayers (businesses) who are registered with the tax department and required to submit a monthly tax return.
Business Roundtable with the Government of Cambodia on the verge of a breakthrough?
February 16th 2009, Siem Reap
His Excellency Prime Minister Hun Sen has confirmed his support and will deliver the opening keynote address at the event.
Surrounded by larger and more visible neighbours, it is often Cambodia's fate to be overlooked. But slowly and perceptibly this is changing. With a liberal economy, low wages, some of the world's greatest tourist sites, and the recent discovery of potentially large oil and gas deposits in the Gulf of Thailand, Cambodia's prospects as both a tourist destination and a centre for enterprise and investment—on paper at least—appear bright.
Experts predict real estate market recovery by 2010
Tuesday, December 16, 2008
But one analyst says the industry is headed for a worse slowdown next year as construction projects go bust and the global economic crisis deepens
HE nearly US$1 billion in foreign aid pledged to Cambodia by donor nations last week could boost the country's sagging real estate market as early as 2010, economists and brokers told the Post.
The developer of a satellite city on Phnom Penh's Koh Pich, or Diamond Island, is offering a discount on villas and houses in the first phase of the US$200 million project. ... read more
Controversial development rules win premier’s backing
Wednesday, December 03, 2008
Prim minister Hun Sen has given his backing to controversial new rules on housing development financing that were postponed earlier this year amid an outcry from international developers, who claimed the regulations would make it impossible for them to do business in Cambodia.
Planned S Korean Skycraper Complex Delayedseven-sky-ccraper comlex along the Tonle Bassace river to just three buildings at half the price, the company said Tuesday.
As land along Phnom Penh's main boulevards and in its central district is largely spoken for, investors are turning their eyes towards the city's outskirts. ... read more
Construction sector grows despite economic crisis
Wednesday, October 22, 2008
What meltdown? Spending on construction grows 38 percent in first nine months of 2008.
Investment in construction projects in Cambodia increased 38 percent in the first nine months of 2008, compared to the same period last year, said Lao Tip Seiha, director of the Construction Department in the Ministry of Land Management, Urban Planning and Construction. ... read more
Are real estate values immune from downturn?
Wednesday, October 15, 2008
Reverberations from the collapse of global financial markets will almost certainly be felt in Cambodia's construction sector but experts are predicting that the limited penetration of financing into domestic real estate will mean very little land or property value will be destroyed. ... read more
Investors firmly behind Gold Tower
Wednesday, October 15, 2008
Financing for the Gold Tower 42 development is secure despite the impact of the global credit crunch on South Korea's financial system, the developer behind the controversial project said. ... read more
Housing rules fracas stirs more fear than credit curnch
Wednesday, October 15, 2008
As property markets worldwide struggle to stya afloat in the wake of the US financial meltdown, investors in Cambodia say that a culprit much closer to home is chiefly responsible for rocking the boat. ... read more
Course to bring real estate professionals up to speed
Wednesday, October 15, 2008
Training and certification program fills the educational gap for the Kingdom's appraisers and other property practitioners
Real estate companies are being urged to send staff to short-course training programs in real estate investment and appraisal to strengthen their professional skills and with the aim to qualify for membership in the Asean Valuation Association, A Ministry of Economy and Finance official has told Prime Location. ... read more
Building momentum
Wednesday, October 15, 2008
Sung Bonna, president and CEO of Bonna Realty Group, says foreign investor interest remains high in Cambodian real estate.
What are the current trends on the local market during the global economic crisis? Our data shows the average market price is down between 5 to 10 percent since highs during July. ... read more
Real Estate firm: Property prices will recover after November
Monday, August 11, 2008
Economists and real estate brokers have predicted that the real estate market will return to normal later this year after a period of stagnation due to pressures from global inflation, the national election and a border dispute with Thailand near the Preah Vihear temple. ... read more
EXPERTS: REDUCED ACTIVITY IN LAND MARKETS COMPARED TO PREVIOUS MONTH
Sunday, July 20, 2008
Previously feverish activity on land markets has decreased because commercials banks have introduced strengthened financial condition before they will give the go-ahead to new land deals and home loans. This is according to Sung Bonna, President and CEO of Bona Realty Group. He suspected that rising prices were in small part the result of certainties about the up coming national election. The global economic crisis and fluctuation on the stock exchange have also played substantial role. ... read more
Honoring the suburban dream
Friday, 27 June 2008
Suburbia is coming to Phnom Penh by 2020, with at least five multibillion-dollar new urban centers or ... read more
Real Estate Boom in Cambodia's Capital
June 2, 2008, 7:39AM EST
A decade ago, Phnom Penh didn't even have a traffic light. Now, high-rise condos and offices are in development and land speculators are raking in profits. At a construction site in the middle of the city, a yellow backhoe levels rubble left from the previous building, an old hospital, while dozens of workmen in hard hats and rubber boots scrape away at the dirt. Nothing that noteworthy about this scene-until you consider the location: the intersection of Monivong and Sihanouk Boulevards, in downtown Phnom Penh. ... read more
Sung Bonna: The right agent
Thursday, June 12, 2008
Land is the investment vehicle of choice for Cambodia's elite. With prices going through the roof, real estate entrepreneur Sung Bonna talks to Adam Fogarty about finding the right agent to help buy your won slice of paradise. Sung Bonna is one of Cambodia's most successful real estate entrepreneurs. It also immediately becomes apparent that he is not your average Cambodian real estate agent. ... read more
Bonna Realty Group signs deal with Grand Phnom Penh International City
Wednesday, April 30, 2008
Bonna Realty Group and Ciputra, both leaders in their own respective field signed an agreement yesterday, April 30, 2008. Mr. Sung Bonna together with his team will now be ready to sell properties assigned exclusively to them by Grand Phnom Penh International group / Ciputra. ... read more
Conference on current Real Estate trend in Cambodia organized by league of Cambodian Journalists
Wednesday, March 19, 2008
The League of Cambodian Journalist in cooperation with Konrad Adenauer Foundation organized a conference at Sunway Hotel last March 19, 2008. The conference entitled "The General trend of Real Estate business in Cambodia at present and in the future" gave clarity to questions of journalists belonging to top print media organizations. ... read more
Bonna Realty Group joins the 2007 World Real Estate Forum
Wednesday, October 31, 2007
Mr. Sung Bonna, President and CEO of Bonna Realty Group together with his management team attended a forum in Seoul Plaza Hotel, Seoul, Korea entitled: 2007 World Real Estate Forum Outlook on Real Estate Market in Asia and Investment Strategy last October 31, 2007. ... read more
មៀនិវៀនង៍បរិដងេ។ផនងកម្ពុជាមានគម្រោងចំណាយប្រាក់ប្រមាណ ៣០ លានដុល្លារអាមេរិក ដើម្បិសាងសង់ស្ពានឆ្លងកាត់ ទន្លេបាសាក់ភ្ជាប់រវាងទីរួមខេត្ដកណ្ដាលនិង ស្រុកកៀនស្វាយនៅឆ្នាំក្រោយនេះ។ ... read more
ការសាងសង់ផ្លូវរថភ្លើងនៅក្រុងព្រះសីហនុ
Wednesday, 09 June 2010
តំណាងពាណិជ្ជកម្មនិងអភិវឌ្ឍន៍នៃប្រទេសកម្ពុជា បានស្វាគមន៍ចំពោះដំណោះស្រាយសម្រាប់បញ្ហាជាប់គាំងក្នុងការជួសជុលផ្លូវរថភ្លើង តភ្ជាប់កំពង់ផែ ក្រុងព្រះសីហនុ។ ... read more
Sihanoukville shopping mall set to boost tourism
Tuesday, 07 September 2010
SIHANOUKVILLE’S first significant shopping complex is scheduled to open early next year, its project manager said yesterday.
Construction on the US$10 million Mittapheap Shopping Centre will be completed over the next three months, according to Tous Saphoeun, project manager of the Pearl City Asia development.
MUNICIPAL officials are set to break ground on a 30-metre-wide road at the city’s Boeung Kak lakeside this week, stoking residents’ fears that development at the site will force them from their homes.
According to this week’s City Hall schedule, municipal officials – including Phnom Penh Governor Kep Chuktema – will open the construction site for a road designated Road 5 (R5) on Wednesday.
ជម្លោះ ដីធ្លីរ៉ាំរ៉ៃនៅស្រុកកណ្ដាលស្ទឹង ខេត្តកណ្ដាល បានផ្ទុះឡើងជាថ្មីទៀតហើយ ក្រោយពីតំណាងអ្នកភូមិម្នាក់ ត្រូវបានគេចាប់ដាក់គុកភ្លាមៗ ដោយគ្មានដីកា។ ... read more
Displaced families get new homes
Monday, 06 September 2010
RUSSEY Keo district authorities have relocated 35 families from the Tonle Sap riverside to new homes on the outskirts of the city, two years after they were made homeless by a riverbank collapse.
The families, who since the collapse have been living in makeshift structures in Sammaki village, Russey Keo commune, were presented with new brick homes in Dangkor district on Friday.
ក្រុម កម្មកររាប់រយនាក់របស់ក្រុមហ៊ុនម៉ៅការសំណង់កូរ៉េមួយឈ្មោះ ឌូសុង (Doosong) បានបញ្ចប់ការតវ៉ា និងការទាមទាររបស់ខ្លួនរយៈពេលពីរថ្ងៃ ក្រោយទទួលការសន្យាមួយចំនួនពីក្រុមហ៊ុន។ ... read more
Tower could flood market
Friday, 03 September 2010
THE surprise announcement that Cambodia may construct the world’s second-tallest building may be good news for Phnom Penh’s prestige, but developer Overseas Cambodia Investment Corp would likely face a considerable financial headache in the process.
At 555 metres, although the project’s sheer scale would no doubt be its greatest draw, a building of this size in Phnom Penh could also become a victim of its huge size. Quite simply, the capital would struggle to absorb the massive increase in space for rent.
THE number and value of construction projects in the Kingdom substantially increased in July, according to the Ministry of Land Management, Urban Planning and Construction.
A KOREAN construction company is set to temporarily postpone work on the Vattanac Capital high-rise on Monivong Boulevard today following two days of protests by disgruntled workers, a union official said yesterday. ... read more
Hun Sen unveils plan for world’s second-tallest tower
Thursday, 02 September 2010
PRIME Minister Hun Sen yesterday outlined plans to build a 555-metre-tall tower on Phnom Penh’s Diamond Island.
The structure, if built today, would be the second-tallest in the world, according to Post research.
“Cambodia will build the tallest private building in Asia,” the premier said at the graduation ceremony for the Human Resources University, held at the National Institute of Education.
INDUSTRY experts from around the world said yesterday that a proposed 555-metre tower on Phnom Penh’s Koh Pich was technically possible, but raised questions about the economics of the plan.
Dennis Poon of Thornton Tomasetti, the company behind some of the highest buildings in the world, including Taipei 101, said the project was possible with the right team and materials to contain costs and avoid problems down the track.
Ground Zero tower to be completed in 2013: officials
Wednesday, 08 September, 2010
The centerpiece tower in the vast reconstruction project at the World Trade Center in New York will be complete in 2013, officials said Tuesday in an upbeat assessment of the site's future.
Days ahead of the ninth anniversary of the September 11, 2001 attacks on the Twin Towers, city officials say that the Manhattan neighborhood is finally being reborn."Tower One has now taken its place amid the New York skyline and the memorial pools and plaza are on schedule to be opened," New York state Governor David Paterson told a press conference.
British house prices rose further in August but at a slower pace compared with July, data showed on Wednesday, in marked contrast to a rival survey reporting that prices were in fact falling.
House prices rose by 0.2 percent in August after a gain of 0.6 percent in July, mortgage provider Halifax said in a statement.
For many Americans the long-cherished dream of home ownership was dashed by the financial crisis, but upcoming government reforms may make it even more difficult to secure that picket-fenced home.
After overhauling Wall Street and the US health care system President Barack Obama's administration will -- by January 2011 -- tackle rules that have underpinned the housing industry for decades.
PETALING JAYA: There are plans in the pipeline to impose stricter credit-card and personal-loan limits to maintain household debts in Malaysia at a healthy level.
According to a banking source, Bank Negara is said to be looking into elements of household financing and may come out with preventive measures.
Property sales in Oz rebound as first time buyers re-enter the market, reports show
Wednesday, 08 September 2010
The political climate in Australia remains fragile but the real estate market has had a boost with first time buyers helping sales jump 11% in August.
The latest real estate figures to be published shows that home and mortgage sales jumped as homebuyer confidence strengthened and mortgage delinquencies stabilised.
Property investment in Poland soars and could reach €2 billion by end of 2010, according to analysts
Wednesday, 08 September 2010
Total property investment volumes in Poland has soared 50% in a year and has now reached €945 million with the positive investor appetite predicted to continue.
Property investment could reach more than €2 billion by the end of the year, according to the latest real estate investment bulletin from international consultants Savills covering the first half of the year.
Singapore govt reveals details of new property cooling measures
Wednesday, 08 September 2010
The details of government strategy to cool the real estate market in Singapore and maintain a stable and sustainable property market have been revealed.
They include changes to stamp duty and loan values for mortgages, increased deposits, making more land available to meet demand and discouraging home buyers from stretching themselves beyond their means.
Rise in pending property sales in US gives real estate market a lift but outlook still gloomy
Tuesday, 07 September 2010
US pending residential property home sales rose dramatically in July giving a much needed boost to the sluggish real estate market after gloomy figures in June which showed sales reached a nine year low.
Based on contracts that have been signed, the National Association of Realtors latest reports shows that pending home sales rose 5.2% in July. Analysts had expected sales to be flat. But sales are still significantly lower that a year ago.
Stereotypical view of Italian real estate market masks a property sector worth investment
Tuesday, 07 September 2010
-Real estate investors who regard the Italian property market as risky and dogged by bureaucracy may be missing a trick, according to analysts.
Two decades of anaemic economic growth, the absence of meaningful structural reforms and notorious dysfunctional politics do not help Italy’s reputation as a real estate investment destination.
Property landlords in the UK are reporting fewer arrears with only 16% seeing an increase in unpaid rent in the last 12 months.
The figures represent a two year low and of those landlords dealing with arrears a quarter say they are dealt with much more quickly than a year ago. As a result severe arrears are at their lowest level since April 2009.
Industrial landlord JTC Corporation is broadening its role beyond property management into project development.
JTC chief executive Manohar Khiatani said yesterday that several facilities in the offshore and marine, precision engineering and medical technology sectors worth hundreds of millions of dollars are on the drawing board.
Last week’s biggest news was the raft of cooling measures that the Government announced on Monday to dampen demand in the sizzling housing market.
The curbs are aimed mainly at deterring property speculators and investors – especially those who may be overstretching themselves financially – from dominating the market and pushing up home prices.
Some developers plan to go ahead with property launches despite uncertain market conditions brought about by the government's latest move to cool rising prices.
But some prospective sellers have withdrawn their properties from the secondary market, preferring to avoid opportunistic buyers on the prowl.
Going by a quick poll, there will be at least three launches in the next two months.
Luxury London property prices continues to fall, latest index shows
Monday, 06 September 2010
Prime London residential prices are continuing to decline but at a slower rate as demand and supply become more closely aligned, the latest real estate index shows.
Prices of luxury property in central London fell by 0.1% in August, a decline which followed the 0.5% fall in July, according to the Knight Frank Prime Central London Index for August 2010.
Tenant horrors including building an extension without permission, highlighted by property landlords
Monday, 06 September 2010
Bribing inventory clerks, growing cannabis plants in the airing cupboard and building an extension without permission are just a few eyebrow raising incidents involving UK property tenants in the last 12 months, a survey shows.
A litany of damage, disastrous decorating and petty theft stories are revealed in the survey of UK inventory clerks compiled by The Video Inventory Agency.
No land allocated for burial grounds under Ipoh draft plan
Sunday, 05 September, 2010
IPOH: No land has been allocated for the purpose of burial grounds under the proposed Ipoh Draft Local Plan 2020 due to public objections.
City Hall town planning director Azizuddin Alias said from its previous experience, people would protest whenever they discovered that a land near their property was set aside as a burial ground.
Bangladesh plans to build a series of dams to reclaim 600 square kilometres (230 square miles) of land from the sea over the next five years, officials said Sunday.
The government has approved the ambitious project under which dams would be built in the Meghna estuary to connect islands and help deposit hundreds of millions of tonnes of sediment, project chief Hafizur Rahman said.
In China, even 'low-cost' housing hard for some to afford
Monday, 06 September, 2010
After months of anxious waiting, Wang Jinxia finally obtained a coveted spot in Shanghai's trial affordable-housing programme, but now the former factory worker is scrambling to pay for it.
The 53-year-old divorcee, who took early retirement years ago, is desperate to move after living eight years in a 60-square-metre (650-square-foot) Shanghai apartment with her octogenarian parents and two other relatives.
KUALA LUMPUR: Syarikat Prasarana Negara Bhd (Prasarana) has begun upgrading the Masjid Jamek, Hang Tuah and Titiwangsa light rail transit (LRT) stations to implement disabled-friendly features such as link bridges from the Kelana Jaya to Ampang LRT lines as well as lifts, ramps, toilets, chair lifts and elevators.
The upgrades are scheduled for completion by the end of 2011.
TUN Hamdan Foundation, which was incorporated in 2003 to commemorate the services and contributions of the late Tun Dr Hamdan Sheikh Tahir, will build its own building in Ipoh soon.
Its chairman Datuk Dr Awang Adek Hussin said the building would be built on a 0.8ha piece of land at the corner of Sekolah Tuanku Abdul Rahman (Star), which had been approved by the state government recently.
Sunway City Berhad (SunCity) continues its successful track record in building townhouses with the launch of MontBleu Residence, its first townhouse development in Ipoh.
Leveraging on the expertise of the Group, MontBleu Residence comprises 220 units of well-planned and modern 3-storey townhouses that is surrounded by lush greenery with a 25ft wide backyard garden. This is also aligned with the SunCity’s ‘Lifestyles of Health & Sustainability’ (LOHAS) concept which promotes green and sustainable developments for a better quality of life.
KUALA LUMPUR: FSBM Holdings Bhd plans to dispose of a piece of freehold land with a five-storey office building in Cyberjaya, known as FSBM Plaza, to AmFirst Real Estate Investment Trust for RM51.5mil. ... read more
