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Thursday, April 30, 2009

Colliers awarded Best Commercial Real Estate Agency

KUALA LUMPUR: Colliers International has been awarded the Best Commercial Real Estate Agency Award 2009 in Hong Kong. With the win, Colliers is now in the running for the Best Commercial Real Estate Agency Award in the Asia Pacific region.

The award is a feature of the International Property Awards, a contest dedicated to identify the best real estate companies and professionals across the globe.

“Colliers prides itself for its excellent business partnership and unique culture. We are delighted to have won this award. The result is a reflection of our position in the Hong Kong real estate industry,” Richard Kirke, managing director of Colliers International Hong Kong, said in a press statement on April 30.

“We strive to deliver specialised services that are based on our in-depth market knowledge at the local, regional and global levels. It is great to have independent recognition that we add value for our clients, staff and the community where we do business.”

The International Property Awards are sponsored by institutions including the CNBC, New York Times and HSBC. The judges comprise professionals from a wide range of property disciplines.

By The EDGE Malaysia

LBS to launch 1,420 medium-cost terrace houses

KUALA LANGAT: LBS Bina Group Bhd aims to launch 1,420 medium-cost terrace houses with a total gross development value (GDV) of RM218mil in the Klang Valley by year’s end, said managing director Datuk Lim Hock San.

From left: LBS Bina Group executive director Alan Chia Lok Yuen, Datuk Lim Hock San and staff members at the launch of Iris Garden in Bandar Saujana Putra Wednesday.

The developer also has projects lined up in Ipoh, Cameron Highlands and Batu Pahat, Johor.

LBS will be launching 1,000 units in Bandar Saujana Putra and 420 units in Taman Tasik Puchong in the next few months, according to Lim.

“We want to build affordable homes priced below RM200,000 for the middle-income group,” he told reporters here after the launch of Iris Garden in Bandar Saujana Putra yesterday.

Lim said the group had sold about 85% of the 220 single-storey houses under the Iris Garden series since their soft launch in February.

LBS is confident of selling by next month all the units which have gross built-up areas of 968 sq ft and priced from RM149,900.

“We will then launch our Ruby Garden project that consists of 200 terrace houses with GDV of RM30mil located in the same area. We also hope to launch phase two of Iris Garden this year,” Lim said.

To date, 4,800 property units worth RM499mil have been completed and delivered to buyers in Bandar Saujana Putra.

It also plans to launch 588 single-storey semi-detached houses priced below RM200,000 in Batu Pahat, Johor with a GDV of RM90mil.

A further 680 apartments and 300 townhouses in Taman Golden Hill in Cameron Highlands, with a combined GDV of RM140mil, will be launched by the year-end.

“There is still demand for property amid the current difficult times and we believe that this is a good time for buyers to buy as mortgage interest rates are very low,” Lim said.

On why the company had been very quiet in recent years, he said: “We have been quiet for the past two years but we hope to have a higher profile again this year. With the right products and business directions, I believe this year would definitely be better for us.”

LBS currently has a total landbank of 2,500 acres in the Klang Valley, Pahang, Ipoh, Batu Pahat and Zhuhai in China.

By The Star

Home decor expo targets RM25m deals

The Home Decoration Exhibition 2009 (HOMEDEC'09), which began at the Kuala Lumpur Convention Centre (KLCC) today, is expected to see an increase in business transactions from RM23 million last year to RM25 million this time.

The four-day event is organised by C.I.S Network Sdn Bhd, a leading organiser of trade exhibitions and events management in Malaysia.

C.I.S Network president Vincent Lim said that in 2008, there were 230 exhibitors for the exhibition, while this year there are 260.

"HOMEDEC is aimed at creating a market place for homeowners to get more tips and information on the latest home decoration products. We are targeting 90,000 visitors throughout the exhibition," he told Bernama after a media tour of the event today.

Lim said given the economic downtrend, it was the best time for homeowners to purchase home decoration products, as prices are much more affordable.

He also said the home decoration industry is expected to record positive growth this year.

The products at HOMEDEC include home technology, kitchen and home appliances, bath and sanitary ware, windows and doors, pools and spa, bedroom and wardrobe, furniture and furnishings as well as interior decorating.

By Bernama

SP Setia leads rally in property stocks

SP Setia Bhd led a rally among Malaysian property developers, the country’s best performers this month, after central bank data showed loans approved for home purchases in March jumped the most in at least a year.

Shares of SP Setia, Malaysia’s largest developer, surged 12 per cent to close at RM3.54, the most since September 7, 1998, capping a 27 per cent rise in April. Sunway City Bhd jumped 5 per cent to RM2.11, adding to a 42 per cent monthly advance.

Loans approved for buying Malaysian residential property surged 49 per cent in March from a month earlier, the second monthly gain, adding to signs the industry may be rebounding.

The Kuala Lumpur Property Index of 87 stocks jumped 23 per cent this month, outpacing the benchmark Composite Index’s 14 per cent gain, and making it the best performing industry group on the stock exchange.

The industry is “showing signs of resiliency” and “incentives to buy property are more compelling now as the average lending rate is at a new low of 5.16 per cent,” ECM Libra Capital Sdn Bhd said in a report today. The “risk-reward trade-off is favourable now as opportunities for significant absolute gains are aplenty when stocks trade back up.”

Malaysia’s central bank said yesterday the domestic economy is likely to improve in the second half as the world economy stabilises. It refrained from lowering its benchmark interest rate yesterday, pausing after three consecutive cuts amid signs the worst may be over for Asia’s exporters.

Prime Minister Datuk Seri Najib Razak has unveiled two stimulus plans to bolster an economy he said may contract as much as 1 per cent this year.

By Bloomberg