All Property Week articles in 22 May 2009
View all stories from this issue.
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APC Advice - Week 44: Month 21 presubmission – preparation
Jon Lever tells you all you need to know about the presubmission process for your final assessment, while Ben Elder looks at the competency on building control and inspection
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OnlineFlood's Modus group collapses.
Brendan Flood's property company collapsed into administration today.
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Asda to spend £260m on stores in Scotland
Asda will spend more than £260m in Scotland between 2009 and 2012 on new and existing stores, it announced today.
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India's NBCC to sell flats at 30-50% below market
In a move that could trigger deep cuts in housing prices across the metros, government-owned construction firm National Building Construction Corporation has decided to offer flats at prices much below the current market prices offered by private developers. The prices are expected to be 30-50% lower than the prevailing prices ...
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US Home sales sluggish as supply climbs
A glut of unsold homes continued to grow last month, fed by a new wave of foreclosures, even though sales of existing homes rose, a national real estate trade association said Wednesday.
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Centro accuses PwC
Centro launched its cross-claim in the Federal Court yesterday, alleging auditors PricewaterhouseCoopers should assume part or all of the blame over claims it failed to disclose the debt that led to its near collapse.
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Sydney tower rents slip
Floors in one the country's most expensive skyscrapers are being rented at almost a third of the original price, as the amount of sublease space on the market begins to ease.
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Westfield raises A$891m in bond issue
Westfield Group has become the second listed property trust to swiftly cash in on the stabilising US equity markets, securing $US700m (A$891m) through a bond issue.
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Beijing relaxes terms for developers
Beijing has lowered capital requirements for residential property developers, taking a new step to spur the housing market by easing financial terms for builders, as the country increases its efforts to combat the economic downturn.
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Speculators drive up HK property shares
An influx of hot money continues to underpin the rally in Hong Kong property stocks, even though analysts say the gains already appear to have priced in the improved outlook for the property market.
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Backer defends Dubai auction failure
Real estate brokers, who made up most of the audience at the UAE's first property auction, said on Wednesday that the homes under the hammer should have been distressed sales.
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Qatar 'needs real estate watchdog'
Qatar needs a real estate regulatory authority if it is to welcome international firms in the industry, according to an official at a global property company.
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Nakheel delays Trump Tower indefinitely
Work on the Trump International Hotel and Tower project has been suspended indefinitely.
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US commercial mortgage defaults 'to rise'
US delinquency and default rates for loans sold as commercial mortgage-backed securities probably will continue to increase this year amid rising office, retail and apartment vacancies, research firm Reis said.
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Irish house prices plunge
Irish house prices fell at a record pace in April, extending a two-year slump and cutting the average price to the lowest level in five years.
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Rising Treasuries threaten US recovery
US Treasury yields rose to their highest level in six months yesterday, raising concern that rising mortgage rates could damp a nascent recovery in the economy.
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Nationwide warns on savings scheme as profits tumble
Nationwide Building Society warned that depressed levels of profitability experienced in the second half of last year could continue into the next 12 months, as low interest rates squeeze its profit margins.
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Brixton bondholders threaten takeover
Bondholdersin struggling industrial property company Brixton could derail takeover talks with rival property company Segro if the deal threatens the company’s banking covenants.
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Telford Homes profits dip
Telford Homes, The East London property company, reported a 34% fall in full-year pre-tax profits to £4.3m, from £6.5m a year ago, after suffering land writedowns. But it said there had been increased activity at sales outlets over the past few weeks.
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GPE exits hedge
Great Portland Estates, the property company, has paid £18.2m to extract itself from an expensive interest rates hedge.
