All Property Week articles in 29 May 2009
View all stories from this issue.
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APC Advice - Week 45: Month 24 final assessment – presentation and preparation
Jon Lever looks at the preparation you need to do for your month 24 final assessment, while Ben Elder tackles the competency about corporate real estate management
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Great Portland Estates confirms £42.5m West End purchase
Great Portland Estates has confirmed its purchase of the long leasehold at 20 St James’s Street in London’s West End, as revealed by Property Week yesterday .
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OnlineInvista REIM warns of returns to shareholders below net asset value
Invista Real Estate Investment Management this morning warned that the amount it would return to shareholders, proceeds from the sell-off of its assets as it winds up, would be at a discount to net asset value.
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Indian developers told to repay loans before new projects
Real estate companies, which are raising money from institutional investors, are being told to use the funds to repay loans first, instead of taking up new projects, people familiar with the development said.
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Mortgage market intervention supported
The US government should continue to intervene in the home-mortgage market after the foreclosure crisis ends, real-estate brokers, home builders and mortgage bankers said in testimony prepared for a congressional hearing on Wednesday.
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Builder cuts losses on slashed revenue
Hovnanian Enterprises, the home builder, said Tuesday that it cut its quarterly loss, but its revenue fell by nearly half as it cut prices to encourage sales.
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HK buyers target London homes
London properties are back in favour with Hong Kong investors seeking to protect their wealth from negative returns in a zero interest rate environment at home, according to analysts.
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Kowloon station site to bolster district's hub ambitions
A large site above the West Kowloon terminus of the Guangzhou-Shenzhen-Hong Kong Express Rail Link next to the Kowloon MTR station has been zoned for commercial use, boosting the bid by city planners and developers to establish a new core business district in the area.
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China developers upbeat for second half
Developers and property analysts are upbeat about the second-half outlook for the mainland property market after seeing a steady increase in transactions in the first five months of the year.
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Visa issue seen as central to boosting UAE market
Property industry experts on Tuesday said the UAE’s visa plan for expatriate homeowners was key to kick-starting the real estate market.
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Qatar office rents 'to remain flat until next year'
Office rents are unlikely to rise in Qatar until the end of 2010, a new report said on Tuesday.
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Aldar holds its rating
Aldar Properties has been praised by the financial ratings agency Moody’s, which said the company was well-positioned to ride out the global financial crisis because it was adjusting to the changing market conditions and the sharp undersupply of homes in Abu Dhabi.
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Omniyat hands over first tower in Dubai Business Bay
Omniyat Properties, the developer based in Dubai, has handed over the Bayswater tower, the first office building of the Dh110bn (US$29.95bn) Business Bay development next to Downtown Burj Dubai.
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Shimao sales break 10bn yuan
Shimao Property Holdings sales surpassed 10 billion yuan in the past five months and the company is confident of meeting a full-year target of 17 billion yuan, the Standard reported today, citing Chairman Hui Wing-mau.
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J-REITs to buy fewer Japan properties this year
Japan’s 41 publicly traded real estate investment trusts 'are certain to buy fewer properties this year because they lack funds, said Daisuke Seki, chief executive officer of Tokyo-based IB Research and Consulting.
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US house sale point to end of free fall
The US housing market gave another sign yesterday that the free fall could be ending. Figures indicated that pending home sales rose for a third month running in April as record low mortgage rates lured buyers back to the market.
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Signs of optimism among housebuilders
Optimism at the outlook for the construction market has returned to its highest level since the start of the credit crunch in August 2007, according to a survey of purchasing managers. Actual orders by house builders have come within a whisker of growth, having been in unremitting decline since November ...
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First Property profits up
First Property, the property services group, reported full-year operating profits of £3.6m, up by £1m from the previous year, and said that it was considering a return to the UK property investment market. Its assets under management increased by £20m to £310m.
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Mortgage approvals up
The Bank of England said that there were 43,201 mortgage approvals in April, up from 40,038 in March and better than analysts’ forecasts of 41,000 — although well below last year’s level of 55,280, when house prices were falling rapidly.
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Hypo nationalisation agreed
Shareholders of the German lender have voted to approve a government plan to nationalise Hypo Bank by means of a capital increase to a 90% stake, allowing it to squeeze out the remaining investors.
