Asia Pacific

Property Week

Stories with this category.

  • TH Real Estate raises £300m for debt fund

    2 August 2017

    TH Real Estate has been awarded a mandate to invest in the UK commercial real estate (CRE) debt market by The Korean Teachers’ Credit Union (KTCU).

  • Global markets to build ‘unprecedented’ 700m sq ft of offices by 2019, finds Cushman report

    25 July 2017

    The world property market is experiencing an unprecedented office building boom with more than 700m sq ft of space under construction that will be delivered between now and the end of 2019, Cushman & Wakefield’s Global Office Forecast reports.

  • Hong Kong tops price league for skyscrapers

    4 July 2017

    Skyscrapers in Hong Kong are the most expensive commercial real estate assets in the world, according to new analysis from Knight Frank.

  • EMEA losses drag on JLL’s first quarter figures

    8 May 2017

    JLL has reported that net income fell to $11m for the first quarter of 2017, less than half the $26m in the same period last year.

  • Profits fall at Grosvenor as London market cools

    25 April 2017

    Grosvenor Group, the Duke of Westminster’s property empire, recorded a 5% fall in revenue profit in 2016 as the London market cooled.

  • Purplebricks launches Sydney office

    17 January 2017

    Purplebricks Group, the online estate agent, has continued its roll-out across Australia, with the launch into Sydney, and offices in Adelaide and Perth expected to follow.

  • MIPIM Asia: China has 'gone back in'

    5 December 2016

    “Go out!”, was Deng Xiaoping’s famous slogan signalling China’s integration into the global economy. This week at MIPIM Asia revealed China has “gone back in” with important measures that will affect inward investment into the UK.

  • MIPIM Asia: Asian investors remain bullish about Britain

    2 December 2016

    Life in Hong Kong is lived on fast forward. Every day is a hectic race to make more dollars but MIPIM Asia ensures Hong Kong’s real estate players have time to stop and talk trends.

  • China’s Henry Global agrees first UK investmet partnership

    2 December 2016

    InvestUK today has secured a partnership agreement with Henry Global Consulting Group, one of China’s largest overseas property investors, to participate in InvestUK’s $1bn Education Bond, targeted at UK affordable housing.

  • Chinese investors remain hungry for overseas assets

    10 November 2016

    Levels of overseas property purchases by Chinese investors remain strong and are gaining momentum, according to a study by Knight Frank.

  • London records highest retail rental growth as New York remains most expensive

    25 October 2016

    New York’s Fifth Avenue continues to command the world’s highest prime rents for retail space as rental gains in the Americas and Europe outpaced those in the Asia-Pacific region, according to CBRE’s half yearly Global Prime Retail Rents report.

  • Pradera moves into Asian market

    2 September 2016

    Specialist retail fund and asset manager Pradera has entered into a joint venture with Macquarie Retail Real Estate Management to provide asset management services in Asia.

  • Blackstone appoints former Morgan Stanley banker to head Asia-Pacific

    6 April 2016

    Blackstone Group, the US private equity giant, has named Christopher Heady as chairman of its Asia-Pacific businesses, promoting a 16-year veteran banker who played a key role in expanding the group’s real estate business in the region.

  • New avenues for global investment

    11 March 2016

    With prices continuing to escalate in certain cities around the world, BDO’s international real estate team has assessed where the industry is right now, and what opportunities investors should be considering globally.

  • Anthony Couse to become JLL Asia Pacific CEO

    17 February 2016

    JLL has promoted its current managing director of Shanghai and East China to the post of Asia Pacific chief executive.

  • Interview: Duncan Owen of Schroders

    29 January 2016

    Schroders global head of real estate Duncan Owen has his sights firmly set on Asia as the investment manager looks to boost its international presence.

  • The new Iranian revolution – and how it could affect UK property

    29 January 2016

    Just as Middle East and Far East investors are viewing the London market more cautiously, the lifting of sanctions on Iran is opening up another source of investment. But how significant will Iranian cash become?

  • The balance of economic power is reversing

    4 December 2015

    I’m at Mipim Asia in Paris’s Asian investor presentation. The cross-channel competition for Asian capital is roughing up as the Paris panel carves up ‘les rosbifs’.

  • Two Chinese property giants to target Shanghai flotation

    20 November 2015

    Two of China’s biggest property companies are seeking approval to raise around ¥47bn (£4.8bn) through initial public offerings (IPOs), as part of the first wave of companies to seek listings following an enforced hiatus.

  • Blackstone in £152.6m JRIC takeover bid

    13 November 2015

    Blackstone has agreed a deal to acquire Japan Residential Investment Company for £152.6m.

  • Embassy and Cornerstone in Bangalore team-up

    13 November 2015

    Indian real estate developer Embassy Group has entered into an agreement with property company Cornerstone Group to develop a 12m sq ft business park on a 100-acre site in Bangalore.

  • Asian investment remains an essential element of European real estate market

    23 October 2015

    Asian capital remains part and parcel of the European investment cycle despite uncertainty in the Chinese stock market, a report from Colliers International has found.

  • Aberdeen poised to open subsidiary office in China

    25 September 2015

    Aberdeen Asset Management has been granted a business licence that will allow it to set up an office in China.

  • Tesco sells South Korean stores

    11 September 2015

    A group of investors led by MBK Partners has agreed to buy Tesco’s South Korean business Homeplus for £4.2bn.

  • Savills IM completes acquisition of SEB Asset Management

    1 September 2015

    Savills Investment Management has completed the acquisition of German group SEB Asset Management.

  • Goldman Sachs takes a $150m chance on Indian developer

    21 August 2015

    Investment bank Goldman Sachs has agreed to invest $150m (£96m) for a minority stake in Indian real estate development business Piramal Realty.

  • Chinese developers can withstand a 10% currency depreciation, says Moody's

    18 August 2015

    Chinese developers’ high exposure to foreign currency debt means they will be hit by the depreciation of the country’s currency – but they should still be able to withstand a 10% shift without it affecting their credit ratings, according to Moody’s.

  • Cameron says UK property is no safe haven for 'dirty money'

    28 July 2015

    Foreigners must be stopped from buying UK homes with “plundered or laundered cash” as part of a “global effort” to defeat corruption, David Cameron is expected to say in a speech later.

  • No uptick in Chinese investment in UK

    17 July 2015

    Chinese investment into Britain has remained stable, despite reports of a surge in interest from Chinese investors seeking to escape stockmarket turmoil.

  • Regus opens first office in Brunei

    10 July 2015

    Global workspace provider Regus has opened its first office in Brunei in a bid to tap into demand from the oil and gas sector.

  • New Mandarin Oriental for Beijing

    3 July 2015

    Mandarin Oriental Hotel Group has unveiled plans to open a new hotel in Beijing.

  • NBIM builds team for Tokyo office

    26 June 2015

    Norway’s $890bn (£564bn) sovereign wealth fund Norges Bank Investment Management is planning to open an office in Tokyo as it prepares to enter Asia’s real estate market.

  • Schroders wins $1bn mandate from China

    12 June 2015

    Schroders has won a segregated mandate to invest up to $1bn (£645m) in European real estate on behalf of a major Chinese institution.

  • Asian markets slump to three-year low

    15 May 2015

    Transactions in the Asia-Pacific region slowed significantly in the first quarter of 2015 to $74.3bn (£47.4bn), the lowest quarterly total in three years.

  • Reconstruction after Fukushima earthquake

    15 May 2015

    Four years on from Fukushima’s cataclysmic earthquake and tsunami, we report on the rebuilding efforts.

  • Air India to raise rescue millions via real estate sale

    8 May 2015

    India’s oldest airline has launched a bid to raise Rs1,200 crore (£125m) from real estate asset sales to try and reverse its loss-making run.

  • Developer’s profits plummet as China central bank helps market

    1 May 2015

    Profits at China’s largest developer, China Vanke Co, fell by 58.9% in the first quarter, adding to a slide in the market which has prompted intervention from China’s central bank.

  • Kaisa becomes first Chinese developer to default on debt

    24 April 2015

    Chinese developer Kaisa Group Holdings has became the country’s first real estate company to default on its US currency debt.

  • Ivanhoé Cambridge buys 25% stake in Sydney’s Liberty Place

    17 April 2015

    Ivanhoé Cambridge has bought a 25% stake in Liberty Place, an office property in Sydney, Australia, for AU$240m (£124m) — its first direct investment in the city.

  • Veteran King to join Multi Corporation retail board

    17 April 2015

    Multi Corporation, Blackstone’s operating platform for retail real estate in Europe and Turkey, has appointed Sheila King to its supervisory board.

  • Australian central bank withholds interest rate rise

    10 April 2015

    Australia’s central bank has kept interest rates on hold despite market expectations of a further cut, as it assesses the country’s heated housing market.

  • West Australian government to jettison property portfolio

    10 April 2015

    The Insurance Commission of Western Australia (ICWA) is selling an AUS$800m (£413m) property portfolio, in what is the largest direct investment opportunity ever offered in the state.

  • Village Roadshow and CITIC take Asian rollercoaster ride

    27 March 2015

    The Australian owner of Wet’n’Wild theme parks has teamed up with a Chinese investor to roll theme parks out across Asia.

  • Chinese cash comes to London

    6 March 2015

    China Minsheng Investment Corporation (CMI) has agreed a deal to invest £1bn in the Chinese-led project to redevelop the Royal Albert Dock in east London.

  • Hong Kong investors feel at home in London

    6 March 2015

    While many will argue that it’s the profusion of top-ranked universities, unique heritage and rich culture that sets London apart from other world cities, when it comes to Asian investors and their interest in the property industry, it is all about the numbers.

  • How real estate is handling the tech effect in Tel Aviv and Berlin

    6 March 2015

    Growing tech communities are having a profound effect on real estate as they demand new types of properties in new locations.

  • Indian real estate giant to sell part-stake in four schemes

    27 February 2015

    India’s largest real estate company DLF is looking to divest a 50% stake in four new housing projects for £311m, as a slowdown in sales hits the company’s bottom line.

  • Savills buys CBRE’s Malaysian business

    17 February 2015

    Savills has acquired CBRE’s Malaysian business in a move which will see almost 300 staff moving to trade under the new brand.

  • Lodha targets London-based buyers for Mumbai tower

    16 February 2015

    Indian luxury property developer Lodha Group has appointed Mayfair estate agent Wetherell to target London-based buyers for its World One Tower in Mumbai.

  • Dalian Wanda widens asset base with $1.2bn media buy

    13 February 2015

    Chinese property developer Dalian Wanda Group has struck a $1.2bn (£788m) deal to acquire Swiss sports marketing company Infront Sports & Media.

  • Office in Shanghai wins first BREEAM outstanding rating

    23 January 2015

    No. 1 Shanghai, a 590ft-tall, 34-storey commercial tower has become the first high-rise building in China to achieve an outstanding design rating under BREEAM.

  • Hong Kong office space most expensive in the world

    20 January 2015

    Office space in Hong Kong is more than twice as expensive as prime commercial property in any other global city, and more than three times as much as that of the City of London, according to research from Knight Frank.

  • Aviva sells Asian real estate platform to JP Morgan

    17 December 2014

    Aviva Investors has sold its Asia Pacific real estate platform to JP Morgan Asset Management.

  • Paris primed to lure Asian investors away from London

    12 December 2014

    Asian money is likely to target Paris in the coming years, as investors increasingly look outside London, according to research by Deutsche Bank.

  • Dalian Wanda to launch giant IPO on Hong Kong Stock Exchange

    5 December 2014

    Dalian Wanda Commercial Properties has been given the go-ahead for an initial public offering that could raise $5bn, according to reports.

  • A view of Europe from Hong Kong

    14 November 2014

    Two Gerald Eve partners report back from October’s HICAP event.

  • New regional heads at CBRE

    26 March 2014

    CBRE has appointed two chief executive officers for its EMEA and Asia Pacific divisions.

  • Blackstone bags Hammerson man

    24 January 2014

    Former Hammerson managing director of retail Lawrence Hutchings has started working for Blackstone across its growing Asia-Pacific retail portfolio

  • Singaporeans bank £200m on Holland Park housing

    24 January 2014

    DBS Bank and OCBC back redevelopment of Native Land’s Holland Park School in west London

  • Tesco completes £355m South Korea deal

    3 January 2014

    Tesco has confirmed the completion of a sale and leaseback transaction in South Korea with fund manager Samsung SRA for more than £355m.

  • More than £1bn of Chinese money in to London property in first nine months of 2013

    13 December 2013

    Chinese investors have piled over £1bn in to the London real estate market in the first nine months of the year according to research by Jones Lang LaSalle.

  • Chinese pounce on £170m Midtown block

    7 November 2013

    GLL Real Estate Partners has sold the freehold interest in Centrium, 61 Aldwych, to a company wholly owned by China Overseas Holdings, for £170m.

  • Blackstone buys 40% of Chinese shopping centre developer

    4 November 2013

    Blackstone Group has agreed to buy a 40% stake in Chinese shopping mall developer and operator SCP Co.

  • Hong Kong has highest office values in the world

    31 October 2013

    Hong Kong office capital values are more than twice as high as any other city in the world according to research by Knight Frank.

  • EXPO 2013: New York tops global property investment market

    8 October 2013

    New York has retained the title of being the largest global real estate investment market for the third consecutive year, with volumes rising by 39%.

  • EXPO 2013: New York and London top global property investment markets

    8 October 2013

    New York has retained the title of being the largest global real estate investment market for the third consecutive year, with volumes rising by 39%.

  • Major UK property law firm merges with Asia-based rival

    13 August 2013

    Law firm SJ Berwin has merged with Hong Kong-based King & Wood Mallesons to create the first global law firm with a headquarters in Asia.

  • Cushman & Wakefield buys Asian project management firm

    26 June 2013

    Cushman & Wakefield has bought Singapore-based project management specialist Project Solution Group, as it continues to expand its operations in Asia Pacific.

  • Henderson and TIAA-CREF merger

    24 June 2013

    Henderson Global Investors and TIAA-CREF have formed a new global real estate investment management company, as the wave of property fund management mergers and acquisitions continues in 2013.

  • Henderson and TIAA-CREF merger

    24 June 2013

    Henderson Global Investors and TIAA-CREF have formed a new global real estate investment management company, as the wave of property fund management mergers and acquisitions continues in 2013.

  • Asia Pacific investment volumes up by nearly 25%

    10 June 2013

    Investment volume in the Asia Pacific region grew by 22.9% to $109.8bn over the first quarter, compared to the same period in 2012.

  • Asia-Pacific dominates as Europe feels pinch

    7 June 2013

    As European cities try to weather the storm of a double-dip recession, Asia’s business centres are overtaking them in the global prime office rental market.

  • Cushman establishes Taiwan presence

    5 June 2013

    Cushman & Wakefield has expanded its Greater China operations by opening an office in the capital of Taiwan and appointing Jack Lin as the managing director of the new office.

  • Knight Frank: Greater China Property Market Report - Q1 2013

    17 May 2013

    During the first quarter of 2013, China’s State Council launched ‘Five New Measures’ to further tighten regulation of the residential property market.

  • Knight Frank to set up London desk in Jakarta

    14 May 2013

    Knight Frank has announced today that it will set up a London desk in Jakarta.

  • Rockspring opens South Korea office

    13 May 2013

    Rockspring Property Investment Managers has opened its first north east Asia office in Seoul, South Korea.

  • Knight Frank: Asia Pacific Residential Review - April 2013

    2 May 2013

    Volumes start to drop in Hong Kong, as cooling measures and a rise in interest rates dampens demand.

  • Forum Partners hires new head of Asia

    22 April 2013

    Forum Partners has appointed Gregory Wells as managing director and head of Asia.

  • Knight Frank: Hong Kong Monthly

    15 April 2013

    Momentum in Hong Kong’s office sales market continued to weaken over the past month, after the introduction of a Double Stamp Duty in late February.

  • “Asia is the place for me. It is the growth area. When I come back from China, I feel refreshed”

    8 March 2013

    I first visited China in 2002 to sign a shirt sponsorship for Sheffield United with Chinese sports retailer Desun.

  • The New Territory

    8 March 2013

    Far Eastern investors have kept London’s residential market bouyant. Emma Haslett reports

  • Yoo plans to go off piste in Japan

    8 March 2013

    John Hitchcox’s residential design development company, Yoo, will unveil a trio of luxury Far East residential schemes at the MIPIM property expo in Cannes, France, next week.

  • Blackstone on a roll with new $4bn Asian and Euro funds

    15 February 2013

    US fund manager gearing up for next European vehicle and looks for $2bn in Asia

  • Knight Frank: Beijing Prime Office Market Report - Q4 2012

    11 February 2013

    Beijing recorded a 7.7% year-on-year Gross Domestic Product (GDP) growth in 2012.

  • China and India's new year fitness regime means we'll all be busy in 2013

    11 January 2013

    This is my fifth Christmas of turkey with rice and soy sauce, as I reflect back on another 12 months in the Asia- Pacific real estate market and think forward to 2013.

  • Prologis to launch Japanese REIT

    13 December 2012

    Industrial developer Prologis has confirmed it will create a Japanese real estate investment trust (J-REIT) to serve as a long-term investment vehicle for logistics facilities developed by the company in Japan.

  • New hire at Henderson

    7 December 2012

    Henderson Global Investors has hired a new head of property treasury.

  • "'You will know the entire Shanghai Metro was built in 15 years,' they said"

    05 October 2012

    I am proud of London. In my view, it is easily the number one world city and its reputation has been enhanced even further by the recent outstanding success of the summer Olympics and Paralympics.

  • CWM sets up shop in Hong Kong

    05 October 2012

    Retail and leisure agency CWM will expand into Asia and open an office in Hong Kong next year to help its retail clients tap into the Chinese market.

  • IPD in £82m sale talks

    3 October 2012

    IPD is close to a sale to MSCI, the New York-listed market index company.

  • Grosvenor’s China tie-up

    28 September 2012

    Grosvenor has set up a Chinese real estate fund management business.

  • US investor raises $700m for international expansion

    26 September 2012

    Chambers Street Properties, the US-domiciled international investor, has raised $700m of new debt to fund its expansion.

  • CBRE buys Vietnam affiliate agency

    24 September 2012

    CBRE has bought its affiliate company in Vietnam, CB Richard Ellis (Vietnam) in a bid to strengthen its Asia Pacific platform.

  • Cornerstone opens office in Japan

    14 September 2012

    Cornerstone Real Estate Advisers has opened a Tokyo office.

  • Goodman’s Mid East $1bn Tokyo shed fund

    14 September 2012

    Australian developer teams up with Abu Dhabi for logistics development

  • Cluttons appoints See-Lian Ong to boost Asian business

    3 September 2012

    Cluttons has appointed See-Lian Ong as a consultant as it looks to further develop the business in the Asia Pacific region.

  • DTZ’s owner posts 15% drop in net profit

    13 August 2012

    Shares in DTZ’s Australian owner UGL, dropped more than 10% today after the company reported a 15% drop in net profit.

  • DTZ’s owner posts 15% drop in net profit

    13 August 2012

    Shares in DTZ’s Australian owner UGL, dropped more than 10% today after the company reported a 15% drop in net profit.

  • Berkeley sets up home in Hong Kong and Singapore

    13 July 2012

    Developer’s Asian offices will target growing numbers of Far Eastern buyers of central London property

  • Deutsche and Guggenheim end RREEF sale talks

    20 June 2012

    Deutsche Bank has ended exclusive negotiations with Guggenheim Partners over a sale of RREEF, its global real estate investment management business.

  • Lloyds sells major Australian loan portfolio

    6 June 2012

    Lloyds Banking Group has sold £809m of Australian corporate real estate loans at a write-down to face value of more than 50%

  • IPD reports strong 2011 financial results

    30 May 2012

    IPD, the property performance company, increased its pretax profit by 3.4% to £2.76m in 2011.

  • Chinese giant to buy Drapers Gardens

    29 May 2012

    A Chinese investment company backed by a state sovereign wealth fund has agreed a deal to buy Drapers Gardens in the City for £285m.

  • Chinese giant to buy £285m Drapers Gardens

    29 May 2012

    A Chinese investment company backed by a state sovereign wealth fund has agreed a deal to buy Drapers Gardens in the City for £285m.

  • International joint venture to invest $500m in Chinese outlet malls

    21 May 2012

    An international retail joint venture has been formed to invest $500m in Chinese designer outlet centres.

  • Aviva buys stake in massive Australian logistics park

    4 May 2012

    Aviva Investors has bought a 50% stake in one of Australia’s largest industrial developments.

  • Brazilian fund leads $4.6bn fundraising in March

    20 April 2012

    Unlisted real estate funds raised $4.6bn around the world in March, double the amount in February, reports Indirex, the new global online community for the sector.

  • Chinese Estates owner Lau denies bribery allegations

    20 April 2012

    Joseph Lau, the billionaire owner of Chinese Estates, has denied allegations he paid a bribe to Macau’s former secretary of transportation and public works, Ao Man-Long.

  • Savills: Hong Kong Retail Sector - February 2012

    18 April 2012

    For new-to-China brands in particular, their fl agship stores in Hong Kong are designed to build brand recognition among mainland shoppersand trial new lines.

  • Savills: Hong Kong Investment - H1 2012

    18 April 2012

    The last quarter of 2011 was a turning point for the Hong Kong property market as rents and prices either slowed or went into decline. A poor macro-economic environment, tight credit and low affordability alongside policy risk, conspired to dampen sentiment.

  • Knight Frank: Greater China Yearly Property Review - 2011

    18 April 2012

    Over 2011, the Mainland government introduced a number of buying restrictions to help curb the rise in home prices. In Beijing, non-local buyers were required to present evidence of social security and income tax payments covering a minimum of five continuous years since February.

  • DTZ Research: South East Asia - Q1 2012

    18 April 2012

    Despite a slight improvement in sentiment in Q1 2012 as the eurozone debt crisis appears to have eased for now, real estate investments in South East Asia (Malaysia, Singapore and Thailand) fell about 46% quarter-on-quarter (q-o-q) in Q1 as investors remained cautious of global economic uncertainties and rising business costs.

  • Savills: Guangzhou Retail - 1H 2012

    18 April 2012

    The current incarnation of Guangzhou’s retail market started in the early 90s, with the development of several state-owned department stores.

  • Colliers International: Australian Hotel Investment - Q1 2012

    18 April 2012

    The hotel sector delivered the greatest total return of all commercial assets for 2011, according to the latest IPD Commercial Property Index. The sector showed a total return of 17.8% for the year.

  • Chinese billionaire property developer denies bribery

    18 April 2012

    Joseph Lau, the billionaire owner of Chinese Estates, has denied allegations that he paid a bribe to Macau’s former secretary of transportation and public works, Ao Man-Long.

  • Kwoks arrested in Hong Kong

    05 April 2012

    The billionaire brothers who run Hong Kong’s largest property company were arrested last week in connection with a corruption investigation.

  • Hong Kong billionaire Kwok brothers arrested

    30 March 2012

    The brothers who run Hong Kong’s largest property company were arrested yesterday in connection with a corruption investigation.

  • Ex-DTZ man leads Hong Kong

    30 March 2012

    DTZ’s former chairman of Asia-Pacific, Cy Leung (pictured), was appointed Hong Kong’s new leader on Sunday.

  • Hong Kong bribery probe leads to property arrest

    23 March 2012

    An executive director at Hong Kong’s Sun Hung Kai Properties was arrested this week as part of a bribery investigation.

  • Schwartz to float Japanese sheds

    09 March 2012

    Global Logistic Properties is preparing to float its Japanese industrial assets.

  • Cushman & Wakefield: International Investment Atlas - Summary

    8 March 2012

    Global investment rose 14% in 2011 to US$727bn (US$808bn including multifamily) and volumes are now 83% up on their 2009 lows.

  • MIPIM 2012: Global “wall of money” falls to $298bn, says DTZ.

    7 March 2012

    The global “wall of money” for real estate investment has fallen by 6% over the last six months.

  • Savills opens New Zealand office

    29 February 2012

    Savills has launched into New Zealand and opened a dedicated commercial property office in Auckland after recruiting two local property executives.

  • Hong Kong more pricey than London

    17 February 2012

    Hong Kong has pipped London’s West End to the title as the most expensive office location in the world.

  • Regal Homes has high-end hopes to conquer Asian market

    17 February 2012

    Developer offers “ready-to-occupy” homes with Kelly Hoppen interiors. Sarah Stewart reports

  • Goodman to explore new global locations

    16 February 2012

    Goodman Group made a half year operating profit of A$229.2m in the first half of its financial year– a 34% increase on the same period a year before.

  • Colliers International: Taipei Real Estate Market - Q4 2011

    15 February 2012

    GDP growth rate in 4Q 2011 was only 1.90% and resulted in advance estimate of 2011 GDP growth rate to be 4.03%.

  • Holdways/Knight Frank: China Residential Market Watch

    10 February 2012

    The total transacted area of primary residential properties in 20 major Mainland cities continued to fall in the fourth quarter of 2011. Prices of new homes, adjusted by differences in property type, location, fittings and whether they were presale or completed units, fell 2.3% quarter on quarter.

  • LaSalle sets up $1bn JV to target major properties

    9 February 2012

    LaSalle Investment Management and Swiss fund manager Quantum Global have set up a $1bn fund to invest in large properties.

  • Knight Frank: Property Market Outlook for Key Asian Cities - January 2012

    6 February 2012

    The office leasing demand in key Asian cities such as Hong Kong and Seoul are expected to be dampened by the uncertain global economic outlook.

  • Cowell's Estate Office Group ventures into Japan

    2 February 2012

    Nicholas Cowell’s Estate Office Group has secured a foothold in the Japanese market through a partnership with a Tokyo based asset management company.

  • Colliers International: Sydney Central Business District - H2 2011

    1 February 2012

    Foreign and domestic investors have begun to return to the Sydney CBD office market, after a slow start to the year which saw no major investment sale transaction take place during Q1 2011.

  • Colliers International: Philippine Property Market - Q4 2011

    1 February 2012

    The Philippine economy grew by 3.2% in the third quarter but decelerated for the third consecutive period in 2011.

  • Henderson: Think/Asia 2012

    20 January 2012

    Over the last 12 months, Asian (ex-Japan) economies demonstrated continued resilience with 6.6% GDP growth in 2010 and an expected outturn of 4.6% for 2011.

  • Knight Frank: Hong Kong Prime Office Monthly Report - December 2011

    12 January 2012

    Sentiment in the offices sales market improved slightly over the past month, following the reduction of borrowing costs by six foreign central banks.

  • Knight Frank Residential Research: Prime Global Forecast - Q4 2011

    12 January 2012

    Before 2007 the global housing market was a much simpler subject to analyse. Prices and demand rose year-on-year pretty much everywhere and at almost every level of the market.

  • Knight Frank: Greater China Property - 2011 Yearly Review

    12 January 2012

    Over 2011, the Mainland government introduced a number of buying restrictions to help curb the rise in home prices.

  • GIC invests down under

    06 January 2012

    A joint venture between Singaporean and Canadian investment funds is to buy Australian office REIT Charter Hall for $1.2bn.

  • China Investment Corp’s new real estate head is Wu

    16 December 2011

    China Investment Corporation (CIC), the $400bn Chinese sovereign wealth fund, has a new head of real estate.

  • Aviva targets Tokyo offices

    2 December 2011

    Aviva Investors has raised $122m for a Tokyo property fund, as it continues its push into Asia.

  • DTZ Asia Pacific chairman resigns

    24 November 2011

    CY Leung, chairman of DTZ’s Asia Pacific business, has resigned from the company in order to campaign for election as the next chief executive of Hong Kong.

  • DTZ Research: Seoul - Q3 2011

    14 November 2011

    Real GDP growth has slowed since 2010 4Q (4.7%) and was 3.4% during 2011 3Q. During this quarter CPI was 122.5, rising 5.3% y-o-y due to pressure from the demand side, such as rising inflation expectations and price pressures in the service sector.

  • Knight Frank: Hyderabad Office Market - September 2011

    28 October 2011

    Hyderabad office market has emerged largely unaffected by the political agitation in the region.

  • Knight Frank has ‘no intention’ of selling

    28 October 2011

    “Navel-gazing” period concludes as partnership profits leap

  • CBRE profits jump despite global uncertainty

    27 October 2011

    Global profits rose 12% to $64m in the third quarter for CBRE, in spite of the financial uncertainty created around the world because of sovereign debt issues.

  • Global Logistics buys Yupei

    21 October 2011

    Sam Zell and Gary Garrabrant’s Equity International has sold its 49% stake in Shanghai-based warehousing firm Yupei Group to Global Logistic Properties.

  • RBS’s China white knight

    21 October 2011

    Sovereign wealth fund CIC buys stake in £1.4bn distressed loan portfolio

  • CBRE buys ING Asia

    7 October 2011

    Newly named group completes second phase of fund management takeover

  • Voyages of discovery

    7 October 2011

    Six surveyors travelled the world this summer through a global internship scheme. Christine Eade hears their experiences in the latest in our series of monthly 1st Friday articles for young people in property

  • EXPO REAL 2011: Aberdeen Asset Managers to increase spending outside Europe

    4 October 2011

    Aberdeen Asset Managers will increase its spending in countries outside its traditional European core, the company’s global head of property said today.

  • MGPA plans €1bn Asian property fund

    30 September 2011

    Private equity property advisor MGPA is planning to launch a €1bn Asian property fund.

  • How language skills help in real estate

    30 September 2011

    Brits abroad often think lingua franca is enough, but there is no substitute for knowing the native tongue

  • Pay freeze starts to thaw in UK and Asia

    30 September 2011

    Lingering market uncertainty and Arab Spring keep wages relatively flat, but UK and Asia earnings rise with demand for skilled workers, Macdonald & Company figures show

  • Top 10 emerging cities for investors

    30 September 2011

    Doug Morrison picks out the world’s top 10 property hotspots

  • INTERACTIVE: Emerging markets  prop up  prime retail, Cushman says

    1 September 2011

    Aggressive retailer expansion into emerging markets contributed to global prime retail rents rising for the first time since the start of the recession, figures from Cushman & Wakefield show.

  • Asia and central London resi swell Savills' profits 39%

    18 August 2011

    Savills today reported pretax profits had risen 39% for the first half of 2011 off the back of the strong performance of its residential businesses in Asia and central London.

  • Morgan Stanley starts Asian shift with de Poulpiquet …

    15 July 2011

    Relocation signals end of credit crunch turnaround and new focus on growth in east

  • McCabe sets up real estate fund management joint venture for Chinese investors

    13 July 2011

    Kevin McCabe’s Scarborough Group has formed a joint venture with Wyndham Advisers to provide cross-border, real estate fund management. 

  • Morgan Stanley Real Estate Investing global co-head relocates to Asia

    7 July 2011

    Olivier de Poulpiquet, co-chief executive and co-chief investment officer of Morgan Stanley Real Estate Investing (MSREI), is to move to Asia to help the business pursue “exciting opportunities” in the region.

  • GIC Real Estate appoints new head

    8 June 2011

    The Government of Singapore Investment Corporation (GIC) has appointed a new head of property as part of a raft of senior management changes.

  • DTZ: New lenders to add €60bn to UK and Europe debt market

    24 May 2011

    New lenders, led by insurance firms and pension funds, will provide €60bn of debt to property investors over the next three years, DTZ will predict today as it releases its annual “Money into Property” research report.

  • Cushman & Wakefield poaches global capital markets director

    23 May 2011

    Cushman & Wakefield has poached a director for its global capital markets team from M3 Capital Partners.

  • Henderson Global Investors: Think/China

    16 May 2011

    This report looks at the research case for investing in Chinese retail.

  • Cyril Sweett forms Japan joint venture

    12 May 2011

    Construction and property consultancy Cyril Sweett has formed a 50/50 joint venture as a part of its expansion into Japan.

  • Knight Frank: Bangkok Office Market - Q1 2011

    29 April 2011

    The Bangkok office market has been experiencing low demand for office space since late 2006, buildings which have launched during this time have been, and indeed are, struggling to fill their towers, whereas properties built before this time are well occupied.

  • Singapore’s Mapletree targets growth after IPO

    21 April 2011

    Mapletree Commercial Trust, the property company owned by Singapore sovereign wealth fund Temasek, has raised S$893 (£441m) in an initial public offering (IPO), as investors continue to back Asian property flotations

  • JSM Indochina agrees Cambodia portfolio sale

    7 April 2011

    JSM Indochina, the retail and residential property investor, has agreed to sell a portfolio of Cambodian properties for $33.65m.

  • Singapore office sold at record-breaking price

    28 March 2011

    A Singapore office has been bought for $715m (S$889m) – one of the largest deals globally this year and a record-breaker for the south-east Asian city-state.

  • HSBC, Tesco and Metro buy three shopping malls in China for $280m

    22 March 2011

    An HSBC Specialist Investments-managed fund has teamed up with Tesco and the Singapore-listed Metro Holdings to buy three shopping malls in China for $280m.

  • Japan disaster causes German fund to suspend redemptions

    18 March 2011

    Union Investment has suspended the sale and redemption of units for its open-ended real estate fund, UniImmo: Global as a result of the nuclear accident in Japan.

  • Chinese Estates continues journey from Hong Kong to City

    18 March 2011

    Investor-developer ponders second London purchase as part of long-term European diversification

  • Listed companies’ property casualties

    18 March 2011

    Data provider SNL Financial this week said 174 commercial properties owned by listed companies in the US, Asia, Europe and emerging markets have been severely affected by last week’s earthquake in Japan

  • UK REITs feel the impact

    18 March 2011

    The increasingly volatile global economy, which is being affected by events in Japan and the Middle East, will have a dampening effect on UK REIT growth, Mike Prew, Nomura’s chief property analyst, said this week

  • Shareholders approve A$1.4bn ING REIM industrial fund sale

    17 March 2011

    Shareholders in ING Real Estate Investment Management have approved the A$1.42bn sale of its industrial fund to a consortium led by Australian group Goodman.

  • Malaysian trio AIM for flotation

    15 March 2011

    Three Malaysian entrepreneurs are aiming to float a new property company, Top Creation Investments, on AIM.

  • McCabe’s Chinese venture to raise up to $295m in Hong Kong IPO

    14 March 2011

    Top Spring International Holdings, the Chinese developer in which Kevin McCabe’s Scarborough Group International has a 15% stake, is aiming to float on the Hong Kong Stock Exchange next week.

  • M&S to anchor Shanghai shopping centre scheme

    7 March 2011

    Marks & Spencer has signed up as the anchor tenant of a new shopping centre in Shanghai

  • DTZ Occupier Perspective: Global Occupancy Costs - Offices 2011

    4 March 2011

    “On average, global occupancy costs per workstation showed no change in 2010. But, this masks significant regional differences, driven by the two-speed economic recovery. Whilst costs rebounded by 10-15% in Central and South America and Asia Pacific, occupiers in the vast majority of EMEA and North American markets realised savings of 5% during 2010.

  • Westfield’s Lowy moves aside

    2 March 2011

    Westfield Group’s founder and executive chairman Frank Lowy is to step back into a non-executive role, handing control to his two sons, Peter and Steven, who will become joint chief executive officers.

  • Tesco agrees £170m Chinese shopping centre JV

    28 February 2011

    Supermarket giant Tesco has signed an agreement to set up a joint venture to develop shopping centres in China.

  • Cushman reports Hong Kong’s rise to the top of office location cost charts

    25 February 2011

    A tale of two cities: Hong Kong and London tower over nearest rivals (€/sq m)

  • Lend Lease enjoys 17.2% profits boost

    17 February 2011

    Lend Lease enjoyed a 17.2% boost in profits in the second half of 2010, the listed Australian developer said today.

  • DTZ Research: Asia Pacific Investment Market Update - Q4 2010

    27 January 2011

    Total commercial real estate investment transactions fell only marginally, by 2%, in the final quarter of 2010 to reach US$37bn. Activity across the region remained constant despite the introduction of cooling measures in several countries aimed at the residential sector.

  • Knight Frank Monthly Report: Hong Kong Prime Office Market - January 2011

    13 January 2011

    Hong Kong’s office leasing market was quiet in the traditionally low season of December, with many decision-making senior executives having left on vacation.

  • Henderson Research: Think / Asia 2011

    13 January 2011

    Global commercial property investment will track macroeconomic indicators in 2011. As such, Asia’s ability to weather the global financial storm, in addition to its attractive growth prospects and low interest rate environment, will underpin continued investor interest.

  • Hong Kong gains ground on London's West End for top office cost.

    11 November 2010

    London’s West End has continued to be the world’s most expensive office location, though Hong Kong’s Central Business District is catching up, research from CB Richard Ellis has shown.

  • Grosvenor Fund Management and Vega buy "The North"

    10 November 2010

    Grosvenor Fund Management and Vega Wharlock Properties, a retail property investment and fund management group has bought “The North” retail development for its Grosvenor Vega - China Retail Fund.

  • Colliers International: Asia Pacific Office Tenant Survey 2010

    8 November 2010

    For 2010, the Office Tenant Survey has been expanded to include a total of nine countries across Asia Pacific and summarises the views of 740 tenants from a wide variety of industries.

  • Asia leading the way in industrial rent recovery

    4 November 2010

    Asia is leading the way in a global industrial markets rental recovery, research from CB Richard Ellis has shown.

  • Cushman poaches Asia-Pacific capital markets MD from DTZ

    21 October 2010

    Cushman & Wakefield has poached its new managing director for Asia Pacific capital markets from DTZ.

  • London residential and Asia drive Knight Frank profits up 168%

    27 September 2010

    Knight Frank grew profits by 168% in the last financial year, the company said today.

  • Retail property scions turn backs on Asia

    10 September 2010

    Simon Property and Westfield tell EPRA conference of lack of appetite for east

  • CB Richard Ellis Global Marketview: Office Rental Cycle - Q2 2010

    31 August 2010

    Global economic indicators improved in the second quarter of 2010 and world GDP growth for the year is forecast at around 4.5%, according to the IMF.

  • Goodman optimistic despite portfolio value decline

    19 August 2010

    Goodman Group’s property portfolio fell in value by A$518.9m in the last financial year, the Australian industrial developer said today.

  • PWTV: Most UK markets over-priced says DTZ

    18 August 2010

    Most UK markets are over-priced and offer unattractive returns over the next five years, according to DTZ.

  • Bank of China to fund £100m London hotel

    16 August 2010

    Bank of China is to fund a £100m London hotel development in its first substantial investment in London’s hospitality sector, the Independent on Sunday has reported.

  • AXA takes new space in Singapore

    13 August 2010

    AXA has agreed terms to become the anchor tenant at MGPA’s Shenton Way building in Singapore.

  • Fashion brand Ed Hardy franchisee in administration

    12 August 2010

    Ed Hardy Operations (Australia) has entered into administration this week.

  • Societe Generale to double Asian property lending

    12 August 2010

    Societe Generale plans to more than double the amount it lends on property in  Asia, Bloomberg reported today.

  • LaSalle Investment Management closes deals worth £218m

    10 August 2010

    LaSalle Investment Management has completed three transactions in the Asia-Pacific region worth a total of £218m.

  • Real Capital Analytics: Global Capital Trends - Q2 2010

    6 August 2010

    The second quarter was marked by dynamic changes throughout the property markets. Transaction activity slowed in Asia Pacific and not entirely due to governmental curbs instituted by China.

  • Lend Lease buys Singapore development site

    27 July 2010

    Australian listed property group Lend Lease has bought Singapore’s Jurong Gateway Road site for A$618m (£360m).

  • Global investment in Q2 doubles to $66bn

    15 July 2010

    Global real estate investment in the second quarter of 2010 was $66bn – double the same period in 2009, research from Jones Lang LaSalle has shown.

  • Cyril Sweett buys Widnell for £5.4m

    09 July 2010

    Cyril Sweett has bought Widnell, the third largest quantity surveying firm in the Asia Pacific region, for £5.4m. A further sum will be paid for net assets delivered at completion.

  • Cluttons agrees Asian alliance

    8 July 2010

    Property services firm Cluttons has made its biggest commitment to global expansion so far with a joint venture with far Eastern based firm VPC Asia Pacific.

  • Asian investors lead demand for London resi

    18 June 2010

    Asian investors are leading international demand for residential investment property in central London and have spent a total of £761m over the past year, as they look for safe havens in the face of turbulent domestic markets.

  • Simon Treacy to become CEO of MGPA

    16 June 2010

    MGPA, the private equity real estate firm has appointed its Asian head Simon Treacy as CEO.

  • Mark Burton joins Internos investment committee

    14 June 2010

    Mark Burton, the veteran property banker and fund manager, has joined the investment committee of Internos Real Investors.

  • BMB makes Contrarian acquisition

    10 June 2010

    BMB Group, an investment firm founded by Asian entrepreneur Rayo Withanage and Brunei’s Prince Abdul Ali ’Yil-Kabier, has acquired Paris and Luxembourg- based Contrarian Capital Partners and its advisory subsidiary, Beacon Hospitality Partners, which are real estate advisers to Middle Eastern and Asian sovereign investors.

  • Hong Kong residential site fetches £970m

    8 June 2010

    Sun Hung Kai Properties, the world’s biggest developer by market value, paid HK$10.9bn (£970m) for a residential site at a public auction in Hong Kong, the highest price in Hong Kong since its property market peak in 1997.

  • Charter Hall looks to boost unlisted Oz funds

    20 May 2010

    Australian property company Charter Hall is seeking to attract investors to its unlisted office and industrial funds as it looks to take advantage of pricing at the start of tis economic recovery, Bloomberg reported today.

  • Stockland reports "record" residential sales

    19 May 2010

    Property developer Stockland Group is on track for record residential sales for the year 2009-2010, the Australian reported today.

  • Analysts cut profit estimates at Chinese companies

    19 May 2010

    Goldman Sachs and Credit Suisse have cut profit and share price estimates for Chinese property companies as the Chinese government clamps down on speculation to avoid asset bubbles.

  • India's largest developer to sell majority stake in luxury hotels chain

    18 May 2010

    India’s largest property developer is to sell its 97% stake in luxury hotel chain Aman Resorts, the Times of India reported today.

  • Political protests won't hit targets says Thaliand's largest industrial land seller

    17 May 2010

    Thailand’s biggest seller of industrial land has said it was maintaining its 2010 land sales target despite fears around the country’s political protests, Reuters said today.

  • Signs of life in Australian property fund sector

    17 May 2010

    The global financial crisis may have spared the wider Australian economy but the real estate investment trust (Reit) sector was hit hard. Now, however, there are signs of a recovery and analysts are looking favourably at the sector’s value for money and growth potential.

  • "Lower than expected" profits at India's largest developer hit share price

    17 May 2010

    India’s largest developer DLF has reported first quarter profit lower than analysts expectations, Bloomberg reported today.

  • Mainland shoppers spurs developer to renovate HK shops

    14 May 2010

    The increasing number of mainland shoppers has encouraged Hongkong Land to invest HK$151m to renovate the retail podium of Prince's Building in Central.

  • Japanese developer files for bankruptcy protection

    14 May 2010

    Japanese property developer Properst has failed for bankruptcy protection, Bloomberg reported today.

  • H&M eyes southern hemisphere expansion

    14 May 2010

    Europe’s second largest retailer H&M is considering open its first store in the southern hemisphere as it competes with larger rival Inditex, Bloomberg reported today.

  • Hong Kong lays down the law to curb house price surge

    14 May 2010

    The government of Hong Kong has moved to curb surging house prices in the region with a set of rules for housebuilders and developers.

  • Mirvac Group completes A$350m placement

    13 May 2010

    Australian property company Mirvac Group has successfully completed it’s A$350m institutional placement, Reuters reported today.

  • Shanghai set for 1.5% property tax

    13 May 2010

    Shanghai’s municipal government may levy an annual tax of about 1.5% of the value of properties, the Hunan province-based Xiaoxiang Morning Herald newspaper has reported, citing a developer who declined to be identified.

  • Japan Retail Fund to sell early to clear debt

    13 May 2010

    Japan Retail Fund Investment Corp., the country’s largest commercial property fund, said it may sell 32.3bn yen ($346m) of buildings earlier than it had expected as Japan’s real estate market shows signs of recovery.

  • Singapore developer sells bonds to fund China spree

    13 May 2010

    Ho Bee Investment, a Singapore- based property developer, plans to finance its expansion into Chinese real estate by selling bonds for the first time.

  • Swire undecided on whether to proceed with scrapped property IPO

    13 May 2010

    Swire Pacific, which last week shelved an initial public offering for its property unit, has not decided whether it will proceed with the sale, Bloomberg reported today.

  • Ho Bee to fund Chinese expansion through bond-selling

    13 May 2010

    Singapore based property developer Ho Bee Investment is to sell bonds for the first time to finance its expansion into Chinese real estate, Bloomberg reported today.

  • PWTV: DTZ's research heads on where the money is going in property

    12 May 2010

    It is the time to invest in the majority of the markets both globally and in the UK, DTZ’s research gurus Tony McGough and Hans Vrensen told Property Week.

  • China house prices drop a fifth amid discounts

    12 May 2010

    Mainland home prices have tumbled by as much as 19 %this month as developers resort to wide-scale price discounting in a bid to lure wary buyers back to the stagnating property market.

  • Hong Kong to boost land supply despite missed targets

    12 May 2010

    Hong Kong’s government pledged to continue to boost land supply as it tries to cool the property market, a day after its first auction of the fiscal year fetched almost a third less than surveyors’ estimates.

  • Australia home loans dip 3.4% on borrowing costs rise

    12 May 2010

    Australian home-loan approvals fell in March for a sixth straight month after central bank Governor Glenn Stevens boosted borrowing costs and the government cut grants to first-time buyers.

  • Knight Frank: Global Real Estate Markets 2010

    7 May 2010

    "At the start of 2009, nearly every global office market was in the midst of a period of weak occupier demand, falling rents and rising vacancy rates. As the year progressed, however, there was a divergence in the fortunes of the major global markets, as some showed early signs of recovery, while others continued to suffer. By the end of the year, prime office rents had begun to move upwards in Hong Kong, stabilised in the West End of London, and continued on a downward trend in ...

  • Mumbai hits fourth spot in list of world's most expensive office markets

    11 May 2010

    In a clear sign of revival in commercial real estate prices, Mumbai has moved up three positions to fourth in the league of the world's most expensive office markets, just behind London, Hong Kong and Tokyo, according to a new survey.

  • Global turmoil could curb HK land sale prices

    11 May 2010

    The latest global credit turmoil and the Hong Kong government's stated intention to crack down on property speculation might put the brakes on bidding at tomorrow's government land sale, say some analysts.

  • China April home prices defy curbs

    11 May 2010

    China’s property prices rose by a record 12.8% in April from a year earlier, defying government measures to stem gains and cool speculation.

  • DTZ's Money into Property Report 2010

    7 May 2010

    "International investor and European lender sentiment has improved significantly, based on this year’s survey results. Investors and lenders are expecting to do more business in 2010 than last year. We expect this sentiment shift to be mirrored in the APAC region.

  • Developers turn to HK to dodge mainland restrictions

    10 May 2010

    China's biggest developers are borrowing record amounts in Hong Kong, taking advantage of lower interest rates to circumvent a lending crackdown at home.

  • China prices on mainland may fall a third

    10 May 2010

    Chinese mainland home prices may slump 30% as local authorities implement government measures to crack down on property speculation, according to brokerages including China Jianyin Investment Securities.

  • Harrods ponders Shanghai store

    10 May 2010

    Qatar Holding is considering whether to launch a flagship Harrods outlet in Shanghai following its £1.5bn purchase of the London department store this weekend.

  • Sam Zell's top tips for surviving the recession

    7 May 2010

    Sam Zell’s top tip for surviving the recession is “having conviction in the assets that you own”

  • China house prices could fall by a third on crack down

    6 May 2010

    China’s home prices may slump 30% as local authorities implement government measures to crack down on property speculation, according to brokerages including China Jianyin Investment Securities.

  • India's Manhattan loses tenants as builds show age

    6 May 2010

    UBS and JPMorgan Chase are leading an exodus of finance companies from Mumbai’s Nariman Point financial district as they balk at paying double midtown- Manhattan rents for crumbling four-decade-old buildings.

  • Japan's Commercial Re goes down $160m of debt

    6 May 2010

    Commercial RE, a Japanese real estate management company whose largest stakeholder is Goldman Sachs Group, filed for bankruptcy protection today.

  • Swire Properties delays $2.7bn IPO on poor demand

    6 May 2010

    Swire Properties Ltd., landlord to Time Warner Inc. and Societe Generale SA in Hong Kong, delayed a plan to raise as much as HK$20.8bn ($2.7bn) in an initial share sale, said two people briefed on the matter.

  • China sales dive on crackdown

    5 May 2010

    Beijing's credit crackdown targeting homebuyers has had the desired effect, emptying sales rooms during the long Labour Day weekend and dampening housing demand.

  • China's State Council wants property tax soon

    5 May 2010

    Ji Huaiyin, a deputy director of the fiscal and finance department under the State Council’s Legislative Affairs Office, said imposing a property tax earlier is better than imposing the tax later, the official Xinhua News Agency reported yesterday, citing an interview with Ji.

  • Oz building approvals surge 15.3% in March

    5 May 2010

    Australian home-building approvals rose in March at the fastest pace since 2002, a sign that housing demand hasn’t been damped by the central bank’s world-leading round of interest rate increases.

  • Beijing limits families to one home purchase

    4 May 2010

    Beijing is the first city to respond to the central government's efforts to restrain sizzling home prices by limiting families to purchases of only one new home.

  • Hong Kong tightens property sale rules

    4 May 2010

    Hong Kong’s Urban Renewal Authority announced new rules to increase transparency in the city’s property industry, two weeks after the government said it may raise sales taxes on some homes and accelerate land auctions to prevent a bubble in the market.

  • Westfield plans A$1bn development spree

    4 May 2010

    Westfield Group, the world’s biggest shopping center owner by market value, reported the biggest increase in US sales in almost three years and said it will start A$1bn of developments.

  • New Zealands home building approvals dip

    30 April 2010

    New Zealand’s home-building approvals fell for the third time in four months in March as a slowing property market and prospects of tax changes curbed consumer confidence.

  • Wyndham to target Australia and NZ

    30 April 2010

    Wyndham Vacation Resorts Asia Pacific, a unit of Wyndham Worldwide Corp., plans to spend at least A$20m this year in Australia and New Zealand to buy properties and introduce its Days Inn and Super 8 brands in the region.

  • Taiwan property to trail HK

    30 April 2010

    Taiwan property prices will rise less than Hong Kong and China when the Chinese currency is allowed to appreciate over a period of time, said ING Financial Markets.

  • Sydney midtown challenges CBD

    29 April 2010

    Sydney's midtown precinct has overtaken other parts of the city as the most lucrative for office rental deals, with more than $1bn worth of decade-long leasing transactions signed in the area during the past year.

  • Rents for HK's cage homes rising

    29 April 2010

    The redevelopment of old buildings in Hong Kong is cutting down the supply of "cage homes" in centrally located areas and forcing up rents for the unemployed and underemployed who can least afford to meet higher living costs.

  • Australia house growth slows

    29 April 2010

    Australian house prices grew at a slower pace in the first quarter from the last three months of 2009 as the central bank’s five rate increases since September took effect, Australian Property Monitors said.

  • Sands Macau sale may Raise $12bn

    28 April 2010

    Las Vegas Sands Corp. Chairman Sheldon Adelson said the planned sale of the casino operator’s Macau malls and apartments may raise as much as $12bn and recoup their construction costs.

  • Beijing cancels land auction as prices get too hot

    28 April 2010

    An auction of land in Beijing was cancelled after bidding exceeded a price ceiling set for the lot as the Chinese government expands efforts to rein in the nation’s property market.

  • Chanos 'wrong on treadmill to hell' says China adviser

    27 April 2010

    Hedge fund manager James Chanos is overly pessimistic about China’s property market because he underestimates government efforts to avoid a bubble, according to Fan Gang, a former People’s Bank of China adviser.

  • CLSA Capital swoops in Tokyo

    27 April 2010

    CLSA Capital Partners, a unit of Credit Agricole, aims to buy two to three properties in Tokyo this year through an $816m real estate fund as it takes advantage of declining prices and a recovery in credit markets.

  • China property curbs 'could cause flight to equities'

    26 April 2010

    China’s crackdown on the real estate market may trigger an estimated 400bn yuan ($58.6bn) to flow out of property and into equities, according to the nation’s largest brokerage.

  • Indian authorities target slush funds

    26 April 2010

    Major realty firms of the country are under the probe of enforcement agencies for alleged violation of FDI terms and use of slush funds worth several thousand crore brought in from certain tax havens.

  • Pilot REITS could take froth off rising China property prices

    26 April 2010

    In the latest salvo aimed at the Chinese property market, the country is getting ready to launch a real estate investment tool that will give investors an alternative to bricks and mortar, and move to cool a market where prices have risen at the fastest pace in five years.

  • Australia to clamp down on foreign buyers

    26 April 2010

    Australia will tighten rules on foreign investment in real estate, and introduce penalties to enforce the changes, to ensure pressure isn’t placed on housing availability for local residents.

  • Korea pension fund to buy Berlin Sony Centre for $768m

    26 April 2010

    South Korea’s National Pension Service, the nation’s biggest investor, may buy Berlin’s Sony Center from a Morgan Stanley real-estate fund for about $768m.

  • China tightens property finance rules again

    26 April 2010

    China tightened real-estate financing by requiring developers to submit fund-raising plans for review, stepping up efforts to prevent a bubble even as the central bank pledged to maintain an “easy” monetary policy.

  • China further tightens rules against speculators

    23 April 2010

    The mainland government is continuing to tighten the screws on second-home mortgage approvals as it tries to damp speculative demand.

  • China central bank defends curbs

    23 April 2010

    China’s measures to rein in property bubbles will curb house prices while avoiding a crash, said central bank adviser Li Daokui.

  • Tesco to expand store portfolio at home and in China

    23 April 2010

    Tesco is planning to develop more retail and leisure space in China over the next five years than it trades from in the UK currently.

  • Global switches in Sydney

    23 April 2010

    Global Switch has submitted an application to the New South Wales Department of Planning for a A$200m 34,000 sq m data centre in Sydney.

  • Savills to sell Stamford’s Perth hotel

    23 April 2010

    Stamford Land Corporation, a hotel operator and developer listed on the Singapore Stock Exchange, has appointed Savills to sell its Dynons Plaza development in the central business district of Perth, Western Australia.

  • China buyers defaulting on price fall fears

    22 April 2010

    A growing number of would-be homebuyers in Shenzhen, Shanghai and Beijing could walk away from signed purchase agreements because they fear house prices are set to fall heavily, say estate agents. By quitting now and forfeiting their deposits, they believe they will be able to cut their losses by returning to pick up bargains after prices have fallen.

  • Malaysian firm to double China investment

    22 April 2010

    Guocoland, the developer controlled by Malaysian billionaire Quek Leng Chan, plans to double investment in China property to more than $9bn on confidence government efforts to avert a bubble will work.

  • Asset Managers seeks Tokyo takeovers

    22 April 2010

    Asset Managers Holdings, Japan’s second biggest publicly traded real estate manager, said it’s seeking acquisitions and aims to invest as much as 60 billion yen ($645m) in Tokyo commercial properties. The stock jumped.

  • HK rents at pre-crisis levels

    21 April 2010

    Residential rents in Hong Kong have rebounded to levels last seen before the onset of the global financial crisis in 2008. A survey by estate agency Midland Realty shows the average rent in Hong Kong's 100 major housing estates was HK$18.20 per sq ft at the end of March, up 5.1% in the first quarter and back at the level last reached in July 2008.

  • Australia REITs in better shape

    21 April 2010

    Australian property trusts have improved their standing over the past year after cutting debt and repairing their balance sheets, according to a Standard & Poor’s report.

  • Chinese bank watchdog orders stress tests

    21 April 2010

    China’s banking regulator told larger banks to conduct quarterly stress tests on property loans and ensure the risks attached to such lending is strictly controlled after the government tightened credit rules to crack down on real-estate speculation.

  • Hong Kong homes the least affordable in world

    20 April 2010

    Hong Kong homes are the least affordable among the world's major cities and are rapidly becoming less affordable - a fact buyers may find to their cost when interest rates rise.

  • China tightens rules further

    20 April 2010

    China ordered developers not to take deposits for sales of uncompleted apartments without proper approval and barred them from charging “abnormally high” prices, stepping up efforts to prevent a property bubble.

  • China launches 'draconian' measures to dampen property

    19 April 2010

    China told banks to stop loans for third-home purchases as the government steps up measures to cool property prices with some of the “most draconian” orders yet. Shares of developers and banks tumbled.

  • Glorious rise for China developer

    19 April 2010

    Property developer Glorious Property Holdings reported a sharp rise in its revenue and gross profit for last year, driven by strong demand for luxury residential projects in first- and second-tier cities on the mainland.

  • Swire Pacific cleared for property spin-off

    16 April 2010

    Blue-chip Swire Pacific has received regulatory approval for the initial public offering of its property unit in Hong Kong that will raise around $3bn, a person familiar with the situation said.

  • Oz Treasurer will boost home building

    16 April 2010

    Australian Treasurer Wayne Swan will boost home building and avoid unpopular new property taxes as he juggles the need to revamp the taxation system with political demands in an election year, economists said.

  • Cheung Kong calls cooling measures 'timely'

    16 April 2010

    Cheung Kong, the Hong Kong developer controlled by billionaire Li Ka-shing, said efforts by China to cool its property market are “timely” after record price gains.

  • Uneven recovery in HK's mass market

    15 April 2010

    Hong Kong's secondary housing market has shown a patchy recovery from the collapse of prices that followed the 1997 Asian financial crisis.

  • China signals tougher housing stance

    15 April 2010

    China is likely to impose a property tax as part of measures to prevent a price bubble after the State Council signaled a “tougher” stance on real estate, Deutsche Bank and BofA-Merrill Lynch Research said.

  • China's March property prices leap 11.7%

    14 April 2010

    China’s property prices rose at a record pace in March, indicating government efforts to stem gains aren’t working and more drastic measures may be needed amid concern of a bubble in the nation’s housing market.

  • Oz first-home buying set to plunge

    14 April 2010

    First-home owner activity is expected to plummet more than 40% this year amid rising interest rates, tight lending criteria and reduced government incentives.

  • Australian resi rents could rise 10% in 2010

    14 April 2010

    Australian residential rents may rise by more than 10% this year as landlords pass on higher home prices and increased borrowing costs to tenants, Australian Property Monitors said.

  • Asia 'needs higher rates' to head off bubble, says bank

    13 April 2010

    Asia needs to start raising interest rates to prevent inflation from accelerating and avert the formation of asset bubbles as the region’s economies recover from the global crisis, the Asian Development Bank said.

  • M&C hit by ‘illegal’ hotel sale in China

    13 April 2010

    Millennium & Copthorne, the hotel group, underscored the challenges for western companies operating in China on Monday after it revealed that a former employee at one of its joint ventures there had allegedly sold $48m (£31m) of the venture’s assets without M&C’s permission.

  • China regulator hints at easing of credit slowdown

    12 April 2010

    China's housing market was being driven by a "huge" demand, the country's top banking regulator has said.

  • GPT fund plans A$400m raising

    12 April 2010

    GPT Group said today its unlisted GPT Wholesale Office Fund plans to raise about A$400 million via an equity raising.

  • Australian home loan approvals dip 1.8%

    12 April 2010

    Australian home-loan approvals fell in February for a fifth straight month after central bank Governor Glenn Stevens boosted borrowing costs and the government cut grants to first-time buyers.

  • Peninsula targets China and India for hotel growth

    12 April 2010

    The luxury Peninsula hotel chain plans to open properties in China and India, where expanding economies and rising consumer wealth promise demand for high-end lodging, said Clement Kwok, chief executive officer of owner Hongkong & Shanghai Hotels.

  • Emaar MGF targets India fund raising

    9 April 2010

    Emaar MGF Land revived plans to sell shares in India for the first time, leading Rh182bn rupees ($4bn) of property offers at a time rising interest rates are deterring homebuyers.

  • Property prices in Shanghai tipped to drop

    9 April 2010

    Shanghai's property prices may fall as much as 10% this year as the government prepares to roll out tightening measures to cool the overheated market, according to consultancy Colliers International.

  • Starbucks Oz withdrawal opens door fo new players

    9 April 2010

    With Starbucks’s operations across Australia reduced to a fraction of their peak, one Malaysian entrepreneur is looking to fill the gap, starting with Melbourne’s café society.

  • Shanghai plans property tax to curb growth

    8 April 2010

    Shanghai, China’s wealthiest city, may impose a property tax to curb price gains, the Shanghai Securities News reported, citing unidentified people.

  • China 'Treadmill to Hell' headed for bust

    8 April 2010

    China’s property market is a bubble that may burst by as early as this year, according to hedge fund manager James Chanos.

  • Raffles Hotel sold to Qatari Diar for $275m

    8 April 2010

    The historic Raffles Hotel in Singapore, famed for its colonial grandeur and the Singapore Sling cocktail, is to change hands in a deal worth $275m (£180m).

  • Red Fort Capital eye $1bn in India property spree

    7 April 2010

    Red Fort Capital Advisors, a real estate private equity fund, plans to invest as much as $1bn in India’s property market over the next few years to tap demand in the world’s second-fastest growing major economy.

  • Mirvac set to buy Westpac Office Trust

    7 April 2010

    Mirvac Group, which snapped 18 months of losses in its first half, is in talks to buy Westpac Office Trust as Australian property funds target rivals in an economy that dodged the global recession.

  • HK housing prices climb 7.5% in first 3 months

    6 April 2010

    Hong Kong housing prices hit a 12-year high in the first quarter after increasing 7.5 per cent from the end of 2009.

  • Evergrande plans HK$3.41bn tourism investment in Chongqing

    6 April 2010

    Evergrande Real Estate Group, the mainland's third-largest developer, is to beef up its Chongqing presence with a three billion yuan (HK$3.41bn) tourism investment.

  • Aussie government moves to calm foreign buyer alarm

    6 April 2010

    The Australian government has sought to calm concerns that foreigners are buying up Australian homes and pricing locals out of the market, but has conceded it is investigating an emerging trend.

  • Former Morgan Stanley property bankers to form own firm

    6 April 2010

    Morgan Stanley’s former global head of real estate, Sonny Kalsi, is to form an investment and advisory firm that will focus on properties in the US, Japan and western Europe.

  • Commerz expects first tenant in former Lehman tower

    6 April 2010

    Commerz Real this month expects its first tenant will move into a Singapore office building it bought from Lehman Brothers at a record price five months before the US bank’s collapse.

  • Japan REITs double purchases

    1 April 2010

    Japan’s 38 publicly traded real estate investment trusts more than doubled the purchase of property in the first quarter as credit conditions eased, a research firm said.

  • Latest asking prices fall at HK's Festival City

    1 April 2010

    Cheung Kong has cut prices and lowered the required down payment to lure buyers to Festival City in Tai Wai amid concerns the development is not selling as well as expected, property agents say.

  • Taking China’s temperature

    Global April 2010

    China’s economy, and its housing market, are not in any imminent danger of overheating, say Charlie Huang and Michael Keogh of Henderson Global Investors

  • HK office rents stay the most expensive in world

    31 March 2010

    Hong Kong continued to hold the top spot for occupancy costs, in both the Asia-Pacific region and the world, property consultant Colliers International say.

  • Henderson told to explain uncompleted HK sales

    31 March 2010

    Henderson Land Development, the Hong Kong-based builder controlled by billionaire Lee Shau-kee, has been ordered to explain by today why just one of 25 property sales included in its recent results have been completed.

  • China prices to fall next year says Nomura

    31 March 2010

    Lee Wee Liat, China property analyst at Nomura says he is waiting to buy a property in China but won't make a move until prices fall next year - perhaps by as much as 20% - then it may be worth sitting up and paying attention.

  • BT accepts greater risk in Oz portfolio

    31 March 2010

    BT Investment Management is taking on additional risk to benefit from the “cheap” valuations of more volatile Australian real estate trusts, said Peter Davidson, head of property securities at the fund manager.

  • China property bust may pass quickly

    31 March 2010

    China’s stage of economic development means any property-market bust following the current boom may prove temporary, according to economists at the Bank of Japan and UBS.

  • Australian property inheritances to top A$407bn

    30 March 2010

    Australians are likely to inherit about A$407bn in property assets over the next 15 years, according to a report by Bank of Western Australia.

  • Indian-Mexican JV to target affordable homes

    30 March 2010

    Puravankara Projects today said it has entered into an agreement with Mexico-based Homex India Private to form a joint venture company for affordable housing projects.

  • Lend Lease to seek A$217m for capital shortfall

    30 March 2010

    Lend Lease last night launched a bookbuild to fill a A$217.14 million shortfall from its underwritten A$806m capital raising.

  • China stimulus helps boost Kaisa

    30 March 2010

    Hong Kong-listed Kaisa Group Holdings recorded a 52.2%surge in gross profit to 1.32bn yuan [HK$1.5bn] for 2009, from 867.1m yuan in 2008. Revenue increased by 50.2% to 4.67bn yuan from 3.11bn yuan a year earlier.

  • Cheung Kong profits up on HK and mainland sales

    30 March 2010

    Cheung Kong, billionaire Li Ka-shing’s property developer, said 2009 profit rose 53% as economic growth in China and Hong Kong lifted home sales and raised the value of its investment properties.

  • China clamps down on lending rules

    29 March 2010

    China’s banking regulator ordered lenders to take more care when making real-estate loans, widening efforts to prevent property speculators from causing asset bubbles and bad debt.

  • India to review housing levy

    29 March 2010

    The urban development ministry will seek a review of the proposed service tax levy on sale of housing projects under construction. The levy has been proposed in Budget 2010-11.

  • Guangzhou eyes HK list system

    29 March 2010

    Guangzhou has proposed launching a land sale system similar to the application list in Hong Kong as it seeks to cool home prices.

  • Google Japan to moves into Tokyo tower

    29 March 2010

    Google will relocate to the Mori Tower in Tokyo’s Roppongi Hills complex where Goldman Sachs Group has its Japan headquarters.

  • Aussie central bank warns on house prices

    29 March 2010

    Australia’s central bank Governor Glenn Stevens said house prices are “getting quite high” and signaled that interest rates may need to be increased further to contain inflation.

  • Lowys' takings out-perform Westfield

    26 March 2010

    Frank Lowy's remuneration was $14.9m in 2009 as the executive chairman of Westfield Group presided over a $458m reported loss due to property writedowns.

  • Knight Frank Adelaide Industrial Report: February 2010

    26 March 2010

    “Although South Australia’s fundamentals remain strong, threats and risks still remain. Manufacturing, one of the major contributors to South Australia’s GSP was hit hard in2009. The reduction in national car production will have a significant impact on the South Australian manufacturing industry as well as Adelaide’s industrial property market. The impact of the weakness in manufacturing can be seen in the decrease in full time jobs in South Australia.”

  • Knight Frank's Eastern Seaboard Offices Report: December 2009

    26 March 2010

    “The majority of listed entities have now largely re-capitalised by raising equity to fill the funding shortfall in debt markets and indications are that selected groups are again in a position to compete for assets with the private and off-shore capital. However selected AREITs and unlisted funds remain under pressure from their financiers, hence many will continue to off-load assets in 2010, mainly into the secondary market.”

  • More HK developers cap sales

    25 March 2010

    Sun Hung Kai Properties and Henderson Land Development, two of Hong Kong’s biggest builders, are joining rival Cheung Kong in capping the number of homes for each buyer amid concern demand from speculators is fuelling a property market bubble.

  • China set to curb house prices further

    25 March 2010

    China is likely to introduce more policy changes this year to cool its real estate market, according to Deloitte Touche Tohmatsu.

  • Australian central banks warns on commercial property loans

    25 March 2010

    While Australia’s financial system has remained resilient, a rise in poorly performing commercial property loans needs to be monitored, the central bank said.

  • Oz fund fallout traps mum and dad investors

    25 March 2010

    Small investors have more than A$900m trapped in troubled fund manager Orchard's suite of unlisted property trusts as the sale of the head stock continues to play out.

  • Returning ex-pats drive up HK rentals

    24 March 2010

    Rents of luxury residential apartments and serviced units are back on the rise as expatriate businessmen return to Hong Kong following their withdrawal at the height of the global financial crisis, property agents say.

  • Hong Kong office sales recovering

    24 March 2010

    Office sales in Hong Hong are showing signs of improving, with more than 260 deals recorded last month, the highest level since August last year.

  • Australia home price rises slow

    24 March 2010

    Australian home price growth will slow to about 5% in the next 12 months as falling affordability and the end of government stimulus measures constrain gains, said AMP Capital Investors.

  • Lend Lease appoints new US chief

    23 March 2010

    Lend Lease Group has appointed a new chief executive, Robert McNamara, to reposition its US business as the country recovers from the downturn.

  • Luxury home prices dip on global crisis

    23 March 2010

    Luxury homes became more affordable last year as the financial crisis eroded prices from Monaco to Barbados, according to Knight Frank.

  • China developer caps buyers to battle speculation

    23 March 2010

    Cheung Kong, the Hong Kong-based real estate company controlled by billionaire Li Ka-shing, is capping the number of homes for each buyer at a new residential project as the government tries to curb speculation amid concerns of a property market bubble.

  • India's capital region stable as price soar elsewhere

    22 March 2010

    Property prices in the National Capital Region have remained more or less stable despite rising rapidly elsewhere in the country. Prices of luxury houses have however, begun to rise in Gurgaon.

  • Property tycoon uses cheap labour to lure companies from China

    19 March 2010

    Vietnamese property developer Dang Thanh Tam, one of the country’s richest men, is trying to lure companies from China to his industrial parks with the promise of cheap labor costs.

  • India's Unitech may spin off non-core units

    19 March 2010

    India's second-largest listed developer Unitech is considering spin off non-core businesses that include power, hotels, telecom and special economic zones.

  • Kenedix to pump $332m into property funds

    18 March 2010

    Kenedix, Japan’s biggest publicly traded real estate asset manager, said it will invest 30 billion yen ($332m) in Japanese properties this year through two new funds, to take advantage of price declines.

  • Japan commercial land prices hit record low

    18 March 2010

    Japanese commercial land prices fell to the lowest in at least 36 years as developers faced tighter credit markets and the recession discouraged buyers.

  • HK home sales remain strong

    17 March 2010

    Home-buying interest has shown no sign of abating as secondary sales volume increased for three straight weeks, with units offered in the mid-price range outperforming other sectors.

  • IT giant scraps India deal over costs

    16 March 2010

    Oracle India, which was in talks with Bangalore-based Brigade Group for 1.2m sq ft commercial space in its Brigade Gateway project, has called off the deal. The IT major was planning to take office space in Brigade Northstar, a 30-floor tower complex within Brigade Gateway, to consolidate its multiple leased spaces in Bangalore.

  • Hindustan Construction to buy Swiss developer

    15 March 2010

    Hindustan Construction will buy a controlling stake in Karl Steiner and purchase remaining shares in the Swiss developer in 2014, the Indian company said in a statement to the Bombay Stock Exchange.

  • Perth top Aussie for 10-year property prices

    15 March 2010

    Perth has been the standout property market of the last decade, with 11 of the city's suburbs making the top 20 list for the fastest average annual price growth, according to residential researcher RP Data.

  • No Hong Kong bubble says SHKP

    15 March 2010

    Hong Kong's home market may see "another good year" this year, as buyers remain financially sound, according to Sun Hung Kai Properties.

  • Centro to sell Queensland mall as investors exit fund

    15 March 2010

    Centro Properties Group, the Australian developer that posted a A$3.5bn loss last year, is selling its Surfers Paradise mall after failing to attract investors to replace those withdrawing funds.

  • DLF switches to residential in Mumbai

    15 March 2010

    In a move that could add 5m sq ft to Mumbai’s high-end residential market, the country’s largest developer, DLF, has decided to change the end use of its Lower Parel property.

  • Soho China to target Shanghai

    12 March 2010

    Soho China , the Beijing-based commercial developer, will shift its focus away from the capital to concentrate on Shanghai after its underlying profit leapt 324% last year to 1.69bn yuan (HK$1.92bn).

  • Shortage drives Australian house prices

    12 March 2010

    Australian home prices will keep rising due to a building and land shortage, according to a unit of the Property Council of Australia.

  • New Zealand house prices flat

    12 March 2010

    New Zealand home prices were flat in February compared with January but sales rose strongly on the month, data from Real Estate Institute of New Zealand shows.

  • Hong Kong resi 'set for good year'

    12 March 2010

    Hong Kong’s home market may see “another good year” in 2010 as buyers remain financially sound, according to Sun Hung Kai Properties, the world’s biggest developer by market value.

  • Supertech plans North India spree

    11 March 2010

    Real estate firm Supertech has said it will invest Rs 4,000 crore for developing 15 realty projects across North India in the next three years, and it is planning to raise capital through a public offer.

  • Investa property fund targets office buys

    11 March 2010

    The unlisted A$1bn-plus Investa Commercial Property Fund this week became the first among its peers to reopen redemptions -- for the next three weeks.

  • Hong Kong leads global office markets rebound

    10 March 2010

    Thanks to ample liquidity and a helping hand from mainland financial institutions, Hong Kong's office market has recovered from the global financial crisis better than other main financial centres around the world, says property consultancy CB Richard Ellis.

  • BPTP sees middle class house as 'great Indian story'

    10 March 2010

    BPTP, an Indian developer backed by Citigroup and JPMorgan Chase , aims to tap demand for housing from India’s middle class, Managing Director Kabul Chawla said in Mumbai.

  • Shanghai house prices dip 10% in March

    10 March 2010

    Shanghai’s average housing sale price dropped 10% to 18,549 yuan per square meter in the first week of March from the previous week, Shanghai Securities News reported, citing Shenzhen World Union Properties Consultancy.

  • China property sales jump 70.2% in first two months of 2010

    10 March 2010

    Property sales in China by value rose 70.2% in the first two months of this year, the statistics bureau said today.

  • Emaar aims to proceed with $600m Indonesian scheme

    9 March 2010

    Emaar Properties said it is still planning to proceed with a $600m island resort project in Indonesia and is awaiting a response from an expression of interest it has submitted to the Bali tourism authority, the Dubai-based master developer said today.

  • Warning after strong China property growth

    9 March 2010

    Beijing's super-loose monetary policy and unprecedented stimulus measures boosted investment in the China property to a record 3.6tr yuan (HK$4.1tr) last year, up 16.1% year on year. Sales soared 42.1% to an unprecedented 930m sq m, according to a report by the Housing and Urban-Rural Development. Investment in property has grown from 280bn yuan in 1995.

  • Morgan Stanley man relaxed over China 'bubble'

    9 March 2010

    Stephen Roach, chairman of Morgan Stanley Asia, said he saw a “false alarm” in tales of asset bubbles or an imminent banking crisis in China. Roach, who commented in an e-mailed note, said that Chinese authorities recognize that stimulus must be tempered and “have been among the first to implement post-crisis exit strategies.”

  • Brookfield Multiplex may list office assets

    8 March 2010

    Brookfield Multiplex has not ruled out that the company plans to list $4bn worth of office property in 2010.

  • Former HK government quarters attract little interest

    8 March 2010

    High investment risk has kept most developers away from the tender for the former government quarters in Caldecott Road near Piper's Hill in Kowloon.

  • Abu Dhabi’s foreign policy

    Global March 2010

    The emirate’s government hopes its investment zones will encourage foreign companies to take part in its ambitious 2030 development plan

  • And justice for none

    Global March 2010

    The lack of a proper legal framework has left Dubai’s developers and investors fighting over contracts

  • Downshifting in Dubai

    Global March 2010

    Dubai’s financial crisis has forced residential developers to move into “affordable” housing

  • Q & A: Middle East

    Global March 2010

    Is sharia-compliant capital returning?

  • Who’s who in Abu Dhabi and Dubai

    Global March 2010


  • HK regulators move to head off stop rate war

    4 March 2010

    Hong Kong's banking watchdog has acted to head off a mortgage price war by setting guidance floors on mortgage rates, and warning lenders of default risks in a property market correction.

  • Japan Housing Finance courts foreign investors

    4 March 2010

    Japan Housing Finance Agency, the state-backed lender, plans to increase sales of mortgage bonds this year as part of a strategy to win overseas investors with higher yields than they get from Japanese government debt.

  • Macau Property Opportunities seeks LSE main market listing

    4 March 2010

    Macau Property Opportunities Fund is seeking a listing on the main market of the London Stock Exchange.

  • Mumbai land sale fails

    4 March 2010

    Mumbai’s failure to lure any bidders in the first government land sale in at least 18 months may cause prices in that area to fall as India’s financial hub seeks to develop the reclaimed marshland into a key business district.

  • Global investment to rise 30% in 2010

    3 March 2010

    Global investment volumes will near $500bn this year following investment surges in China, the UK and the US, research from Cushman & Wakefield has said.

  • Japanese REIT consolidation 'to accelerate'

    3 March 2010

    Japan’s real estate investment trusts will accelerate takeovers in the $32bn industry as banks pressure them to consolidate amid a tighter credit market and falling property prices, said Curtis Freeze, who agreed to sell his REIT to a unit of Oaktree Capital Management.

  • Mumbai to test office market with fresh land sale

    3 March 2010

    Mumbai plans to choose the winning bidder in the first sale of land by the government in at least 1 1/2 years as it tests demand for commercial space in a city that is among the world’s five most expensive.

  • Lloyds calls in loans Aussie mega-scheme

    2 March 2010

    Lloyds Bank has called in loans associated with the A$1bn Salt Village residential project on the northern NSW coast, sending four project management and marketing companies of Queensland developer Ray Group into receivership.

  • JLL wins global advisory role for ANZ

    1 March 2010

    Australian bank ANZ has appointed Jones Lang LaSalle as its global property advisor.

  • Indian budget taxes construction services

    1 March 2010

    The Budget proposals have thrown up a dampener for the housing industry. Construction services have now been brought under the ambit of the service tax in an unexpected move that would raise cost of apartments that are still under construction.

  • HK property prices may spur fresh measures

    1 March 2010

    Hong Kong financial Secretary John Tsang Chun-wah warned yesterday that new measures would be rolled out to cool property prices if steps he introduced in the budget did not do the job.

  • Aussie auctions surge as confidence builds

    1 March 2010

    The Australian property market continued to show signs of strong recovery over the weekend, with the total auction revenue significantly higher than the same time last year.

  • China Vanke up 32% on strong sales

    1 March 2010

    China Vanke, China’s largest property developer by market value, said 2009 profit rose 32% after sales increased.

  • Chinese and Russians target Aussie Gold Coast

    1 March 2010

    Chinese and Russians are the biggest foreign buyers of residential property on Queensland's Gold Coast.

  • S&P sees property correction by mid-2010

    26 February 2010

    The China property market will see a correction this year due to slower demand, higher supply, tightening liquidity and the effects of government measures to cool speculation, according to Standard & Poor's Ratings Services.

  • Valad focusses on revenue as losses narrow

    26 February 2010

    Valad Property Group has made a smaller first-half loss than last year and says its business is now stable and the fund manager is focused on growing revenue.

  • Indiabulls Real Estate to offlload wholesale unit

    26 February 2010

    Indiabulls Real Estate, India’s fourth-biggest developer, said it plans to spin off its wholesale trading business.

  • HK flats tipped to debut at record proces

    25 February 2010

    The developers of a luxury residential project in Island South hope to ride the wave of demand for upmarket properties and launch their project at record prices for the area as early as next month.

  • Centro losses down

    25 February 2010

    Centro Properties Group, the Australian developer restructuring its business, said its first- half loss narrowed after declines in property values slowed.

  • Lend Lease back in black and eying projects

    25 February 2010

    Lend Lease Group, Australia’s largest property developer, returned to profit in the first half and announced a share sale to fund new projects.

  • Stamp duty move to steady HK housing market

    24 February 2010

    The government is today expected to take steps to cool the Hong Kong's overheating luxury property by acting against the speculators that it worries may be creating a housing "bubble".

  • India's DB Realty fall 12% on Mumbai debut

    24 February 2010

    DB Realty, India’s first developer to sell shares this year, declined in its trading debut in Mumbai, mirroring losses in real estate stocks.

  • Bank chief says China house prices are 'frightening'

    23 February 2010

    The head of state-owned conglomerate China Everbright Holdings has warned of the dangers of rising property prices on the mainland and said that because of market volatility the group would be cautious about investing in the sector this year.

  • Foreign investors bullish on Indian property

    23 February 2010

    Foreign investors have remained bullish on India's housing, real estate and construction sectors in the last two years, undaunted by scarce global financial resources.

  • GPT returns to profit

    23 February 2010

    GPT Group, the Australian property trust unloading overseas investments, returned to profit in the second half after selling assets and paying off debt.

  • HK flats turned at 20% premium

    22 February 2010

    About 40 flats bought by speculators at the new Yoho Midtown residential development in Yuen Long released at the weekend have been immediately advertised for sale on the secondary market at asking prices of up to 20% more than the prices buyers had originally paid.

  • Omans Blue City project loss provision hiked

    19 February 2010

    Blue City, Oman’s largest property development, appears to be facing serious challenges after an insurance company announced it had increased its loss provisions to cover the project’s possible collapse.

  • Indian developers urge tax help

    19 February 2010

    A tax holiday for affordable housing and an exclusive regulator are among the demands of the real estate sector for India's 2010-11 Budget.

  • CB Richard Ellis: A comparative analysis of office markets in international financial centres

    19 February 2010

    "Despite being hit hard and early by the global financial meltdown London has been one of the first to bounce back, CB Richard Ellis’s analysis of office markets in international financial centre says. The report looks examines the effects of the recession on different financial centres, and focuses on Tokyo, Hong Kong, New York and London."

  • Affordable housing 'should be top Indian priority'

    18 February 2010

    The Sahara India group has said that the pent-up demand for affordable housing in the country should be given top priority.

  • Briton extradited to Dubai over $150m fraud

    18 February 2010

    A Thailand court has agreed to extradite a Briton to the UAE to face charges of embezzling $150m dollars from a property company in Dubai, despite having no formal extradition treaty with the Arab state.

  • Australian property firms set to tap hedge funds

    18 February 2010

    Australian unlisted property companies, facing a funding gap as banks cut back on loans, may turn to alternative investors such as hedge funds as they seek to repay maturing debt, according to Nomura.

  • Slum rehabilitation project for Mumbai

    17 February 2010

    Real estate services provider Housing Development & Infrastructure Ltd has received government approval to develop a slum rehabilitation project in Mumbai, a top official told Reuters.

  • HK new-home market comes to a halt

    17 February 2010

    Chilly weather and a soon-to-be launched big housing project in Yuen Long deterred homebuyers, with the primary residential market virtually grinding to a halt over the three-day Lunar New Year holiday.

  • Westfield to build again as profits return

    17 February 2010

    Westfield Group, delivered a 6.2% boost to full-year operating earnings that was driven by the recovery in Australian retail spending.

  • Westfield results disappoint with full year loss of A$458m

    17 February 2010

    Westfield, the largest global shopping centre owner, reported disappointing results last night but reduced its full year loss to A$458m (£261.6m).

  • Tokyo-area condo supply dives

    16 February 2010

    The number of new condominiums put on sale in the greater Tokyo area in January fell 9.9% from a year earlier to 1,586 units, down for the second consecutive month, a research agency has said.

  • CFS Retail Trust profits on development

    16 February 2010

    CFS Retail Property Trust, the Australian real estate investment trust, swung to a profit in the first half on an increase in its development pipeline.

  • Emaar to focus on emerging markets

    15 February 2010

    UAE-based Emaar Properties has reported 98% jump in net profit to $89.02m last year and stated that it will focus on middle-income housing in emerging markets, including India, Egypt and Pakistan this year..

  • Trade-up buyers drive Aussie house prices

    15 February 2010

    Property markets around the country continue to soar as home owners seek to 'trade up' before anticipated interest rate hikes in the coming months.

  • HK market edges to 13 year high

    15 February 2010

    With an influx of hot money and historically low mortgage interest rates, the Hong Kong property market is heating up. But just how hot is it? The case of an apartment that has just changed hands for HK$5,900 a square foot gives a good illustration.

  • Top developer unveils 'Tuscan City' for India

    12 February 2010

    Taneja Developers & Infrastructure, a leading real estate developer with projects in Haryana, western UP and Punjab, has announced the launch of ‘Tuscan City’ in Kundli, at a distance of just 2.5 km from the national capital.

  • Beijing home prices 'to remain steady'

    12 February 2010

    Beijing home prices are expected to maintain a steady course during the remainder of the year, supported by the city mayor's unexpected pledge not to use administrative measures to intervene in the market.

  • HK loft market absorbs heat

    12 February 2010

    Rising rents and surging prices of apartments in Hong Kong are driving a trend towards conversions of older industrial and commercial buildings into lofts.

  • Henderson expects HK$10b in sales as prices rise

    12 February 2010

    Henderson Land Development expects to sell HK$10bn worth of residential units as it forecasts a 15% rise in property prices in the Year of the Tiger.

  • Hong Kong developers slam Stamp Duty hike

    12 February 2010

    The Real Estate Developers Association of Hong Kong said the city’s government shouldn’t raise stamp duty on home sales as such a move would punish the middle class trying to improve their living standard.

  • Macquarie cuts property trust ties

    12 February 2010

    Macquarie Group agreed to sell stakes in real-estate funds and the rights to manage them for A$297m as the Australian investment bank moves away from its listed funds model.

  • Beijing commercial space '50% vacant' says expert

    12 February 2010

    Jack Rodman, who has made a career of selling soured property loans from Los Angeles to Tokyo, sees a crash looming in China. He keeps a slide show on his computer of empty office buildings in Beijing, his home since 2002. The tally: 55, with another dozen candidates.

  • DLF sold homes worth $103.1m in January

    10 February 2010

    India's top listed real estate firm, sold homes worth Rs4.8bn ($103.1m) in January, group's executive director Rajeev Talwar told reporters on Wednesday.

  • Stockland returns to profit

    10 February 2010

    Stockland, Australia’s largest diversified property group, swung to a profit in the first half on rising demand for residential properties.

  • Goldman to sell Shanghai development to HK developer

    10 February 2010

    Goldman Sachs plans to sell a Shanghai residential project it’s owned for more than two years to a Hong Kong-listed Chinese property developer, said two people with knowledge of the matter.

  • One-fifth price fall for prime site in Shanghai

    9 February 2010

    Beijing's efforts to cool the mainland property market appear to be working, with a prime commercial site in Shanghai selling for 22% less than the price it fetched nearly three years ago.

  • LaSalle to partner with Oz developers

    9 February 2010

    LaSalle Investment Management plans to partner with Australian developers and take on more risk to invest in the nation’s property market.

  • Westfield signs JP Morgan in Sydney

    8 February 2010

    Westfield Group, the Australian shopping centre owner, has signed JP Morgan at its 25-storey 32,800 sq m office tower in Sydney.

  • Nanjing cancels Wharf deal on non-pyment

    8 February 2010

    The Nanjing government has cancelled the sale of a residential site to a consortium of Wharf (Holdings) and China Merchants Property Group because the balance of the land premium was still outstanding.

  • Cheung chief says HK is set for correction

    8 February 2010

    The Hong Kong property market has risen too fast and buyers must look out for a bubble, Cheung Kong (Holdings)’s executive director Justin Chiu said.

  • China state land sales cover 40% of stimulus plan

    5 February 2010

    China’s government netted 1.6 trillion yuan ($234 billion) from land sales last year, or 40% of the cost of the nation’s two-year stimulus package.

  • Launch of new Global interactive magazine

    5 February 2010

    Property Week has launched Britain’s first fully interactive online business magazine today.

  • Bangkok Office Quarterly: Q4 2009

    5 February 2010

    "2009 has been a difficult year for the office sector. Vacancy rates increased on average by 3.35%, reflecting the difficulty most firms in the service sector have faced over the past year. In light of the economic climate most firms cancelled expansion plans and froze recruitment for all but the most essential positions."

  • Knight Frank's Hong Kong Prime Office Monthly Report: January 2010

    5 February 2010

    "Hong Kong’s office leasing market was relatively quiet during the December holiday season, but activity swiftly resumed in the first half of January. Demand came mainly from small and medium-sized finance companies, as many large financial institutions had over-expanded before the outbreak of the recent financial crisis."

  • Nearly a fifth of top-end HK flats bought by mainlanders

    4 February 2010

    Cashed-up mainlanders snapped up almost one in five luxury flats sold in Hong Kong last year, a sign of their growing economic might in the city.

  • Australia office vacancy hits 5-year high

    4 February 2010

    Australia’s office vacancies have reached a five-year high on weak tenant demand and rising supply, the Property Council of Australia has said.

  • HK developers tipped release more units

    3 February 2010

    Major Hong Kong developers are likely to speed up the release of new housing projects as low interest rates and rising salaries underpin buoyant buying sentiment in both primary and secondary markets, property agents say.

  • Apollo to launch Asia Pacific property fund

    3 February 2010

    Apollo Management is launching an Asia Pacific property fund with an expected $500m to $1bn under management to target distressed real estate in the region.

  • RREEF buys in Tokyo

    2 February 2010

    RREEF Alternative Investments (RREEF) has made its second acquisition in Asia in six months.

  • China bubble 'set to burst'

    2 February 2010

    China’s property market 'bubble' is set to burst as the government curbs credit growth and clamps down on speculation, according to independent economist Andy Xie.

  • DLF moves to cut high debt cost

    1 February 2010

    DLF, India's top listed real estate firm, is looking to sell 10 billion rupees of bonds and is in talks for a foreign currency loan to help reduce high-cost debt, two sources with direct knowledge of the matter said on Monday.

  • Oz capital city house prices up in December quarter

    1 February 2010

    The weighted average price of established houses in Australian capital cities rose 5.2% in the fourth quarter of 2009 from the third quarter, the Australian Bureau of Statistics has said.

  • Developers queue up to bid for HK station project

    1 February 2010

    MTR Corp said yesterday it had received 14 expressions of interest to build a large-scale luxury residential project above Austin Station in West Kowloon.

  • Taiwan airport upgrade boosts property

    1 February 2010

    Taiwan property prices may rise at least 30% near the island’s main airport once the government renovates terminals and completes a rail link to the capital city, according to CLSA.

  • Asia lending caps lead the way, says HSBC chief

    1 February 2010

    HSBC chief executive officer Michael Geoghegan said more countries will adopt the mortgage lending caps that protected Asia during the collapse in the US and UK housing markets.

  • Japan housing starts lowest since 1964 Olympics

    29 January 2010

    Japan’s housing starts fell to the lowest level since the nation celebrated its postwar recovery by hosting the Olympics in 1964, as builders were hobbled by dwindling household incomes and sustained deflation.

  • Emaar to meet on $600m Indonesia deal

    29 January 2010

    Emaar executives will meet government officials from Indonesia next week to try to salvage a much delayed $600m (Dh2.2 billion) waterfront resort in the country.

  • Australians struggle with mortgage payments

    29 January 2010

    A rising number of Australians are struggling to make their mortgage payments as increasing property prices and interest rates take a bigger chunk out of homeowners’ incomes, a mortgage brokers’ association said.

  • No capital raising for Lend Lease

    29 January 2010

    Lend Lease has ruled out an imminent capital raising despite clinching development deals worth $10bn in the past six weeks.

  • Asian investment triples prime London resi fund

    28 January 2010

    Open-ended residential property fund, The Prime London Capital Fund, has tripled its funds under management after significant investment from an Asian property company.

  • Emerging markets lead the way in investor activity boom

    28 January 2010

    Emerging markets led the way as investor activity rocketed by 70% in the last quarter of 2009, the Royal Institution of Chartered Surveyors has said.

  • Rebounding HK property lifts estate agent numbers

    28 January 2010

    The ranks of the city's estate agents rose 10.9% last year, lifted by the rebounding property market, and the industry watchdog expects the sector to keep growing.

  • Australian house prices set to jump

    28 January 2010

    Australian home prices will rise by as much as 10% this year as buyers try to trade up to better properties, Australian Property Monitors said.

  • Sobha and Shriram call off India deal

    27 January 2010

    Sobha Developers, which was in talks with Shriram Properties for the sale of around 400 acres in four cities, is learnt to have called off its negotiations following differences over price, people familiar with the matter told ET.

  • New Territories flats boom

    27 January 2010

    Sales of small flats priced below HK$2m soared in northern New Territories last week as bargain-hunters were attracted by prices that had lagged gains in more centrally located districts, agents said.

  • Hong Kong office costs 'set to rise'

    27 January 2010

    Hong Kong's office occupancy costs plunged in the aftermath of the global financial crisis last year, but recovering demand coupled with tight supply will see the per workstation cost of leasing prime office space in the city rise at one of the fastest rates in the world this year, according to DTZ.

  • Data may obscure true heat of China boom

    26 January 2010

    China's property market data may be masking the degree to which speculation is driving prices in some of the larger cities.

  • Hong Kong store face upward pressure, says Savills

    26 January 2010

    Hong Kong store rents may rise by as much as 10% this year as retailers benefit from an influx of shoppers from mainland China, Savills said.

  • China new home supply plunges to 38-year low

    25 January 2010

    Chinese developers last year completed the fewest new homes in 38 years, contributing to a rise in property prices that stopped some people fulfilling their dream of homeownership.

  • Mumbai $94m office sale to test demand

    25 January 2010

    Mumbai Metropolitan Region Development Authority plans to sell office space in an emerging business district at a minimum price of 4.35bn rupees ($94 million) in a deal that may test demand for property amid an economic recovery.

  • China bubble risk may be worse than it seems

    25 January 2010

    China’s property-market data may be masking the degree that speculation is driving prices in some of the larger cities, a World Bank economist said.

  • China's First Eastern to launch Dubai fund

    25 January 2010

    A leading Chinese financial group is in advanced preparations to launch a Dubai-focused investment fund, highlighting global interest in a rebound in Gulf economies.

  • Swire Properties to press on in mainland China

    22 January 2010

    Swire Properties will continue looking for investment opportunities to expand its presence on the mainland even as Beijing imposes tougher measures to deal with a property bubble.

  • Housing offers Japan glimmer of hope

    22 January 2010

    The government maintained its overall economic assessment for the sixth consecutive month Wednesday, saying the economy is 'picking up' thanks partly to improvements in housing construction.

  • Barclays to move to larger HK offices

    22 January 2010

    Barclays is planning to move its Hong Kong office to billionaire Li Ka-shing’s Cheung Kong Center, according to four people familiar with the deal.

  • Citigroup looks sell Japan resort

    22 January 2010

    Citigroup is trying to sell a popular ski resort in northern Japan that it purchased nearly four years ago, people familiar with the matter said.

  • CBRE promotes in EMEA retail team

    22 January 2010

    CB Richard Ellis has made a number of promotions in its retail team in Europe and Asia.

  • Indian textile firm plans to quit real estate business

    21 January 2010

    Alok Industries, an integrated textile manufacturer, plans to exit the real estate business and offload stakes in international retail subsidiaries. With this, the Alok group plans to raise around Rs 1,200 crore, which will go towards repaying its debt in the next two years, according to a person close to the development.

  • China GDP growth accelerates

    21 January 2010

    China’s growth accelerated to the fastest pace since 2007 in the fourth quarter, capping Premier Wen Jiabao’s success in shielding the nation from the global recession and adding pressure to rein in a surge in credit.

  • Lend Lease wins first stage of Perth scheme

    20 January 2010

    Lend Lease has been selected by the Western Australian state government as preferred developer of the first stage of the 710-hectare Alkimos coastal development in the state's capital.

  • Dip in China sales may signal correction

    20 January 2010

    A sharp fall in mainland home sales this month could herald a short-term downward correction in deals and prices this year, according to agents and analysts.

  • Orbit may sell shares to fund $11m Mumbai housing

    20 January 2010

    Orbit Corp., India’s best-performing real estate stock, plans to raise funds from institutions and a buyout firm to build apartments costing as much as $11 million in a nation with Asia’s second-largest number of billionaires.

  • CapitaLand buys US$2.2bn Chinese property assets

    19 January 2010

    South East Asian developer CapitaLand has bought the Chinese property assets of Orient Overseas International for US$2.2bn, doubling its portfolio in one of the world’s biggest countries.

  • CapitaLand Buys Orient Overseas $2.2bn China portfolio

    19 January 2010

    CapitaLand, Southeast Asia’s biggest developer, agreed to buy the Chinese property assets of Orient Overseas for $2.2bn, doubling its real estate holdings in the world’s most-populous nation.

  • Hong Kong consumers property hopes dip

    19 January 2010

    Hong Kong consumers' confidence in property has plummeted for the third consecutive quarter to a record low since a City University survey began last year.

  • Universal to build South Korea theme park

    19 January 2010

    Universal Studios signed today a contract with 14 partners, including Posco Engineering & Construction Co. and Lotte Group, to build a 3 trillion won ($2.7bn) theme park in South Korea.

  • China property sales jump 75.5%

    19 January 2010

    China property sales jumped 75.5% to $644bn last year, led by the eastern cities of Zhejiang and Shanghai, as record new loans boosted buying.

  • Treasury sells stake in Tangdao Bay

    18 January 2010

    Treasury Holdings’ China Real Estate Opportunities (CREO) has sold a stake in its Tangdao Bay scheme at a 10.9% premium to the property’s most recent valuation.

  • Australian institutions eye Tokyo bargains

    18 January 2010

    Australia's largest institutions have joined other global investors in hunting for bargains in the world's largest office market, Tokyo, leading property consultant Reid Mackay says.

  • Hedge funds eye HK and Singapore bases

    18 January 2010

    Bank of America Merrill Lynch is helping more than a dozen multibillion dollar international hedge funds set up or reestablish a presence in Hong Kong and Singapore as the US and Europe increase industry regulation.

  • Orient Overseas to sell $2bn China schemes

    18 January 2010

    Orient Overseas International is in the final stages of auctioning about $2bn of property projects in China according to Reuters reported.

  • China property prices continue to rise in booming cities

    15 January 2010

    Home prices in large and medium mainland cities in December rose at the fastest pace in 18 months, but analysts said activity in major cities had fallen sharply more recently after the central government moved to cool the sizzling real estate market.

  • New World to open new stores as China grows

    15 January 2010

    New World Department Store China, controlled by Hong Kong billionaire Cheng Yu-tung, will open as many as six stores in China this year to benefit more from the stimulus program driving the nation’s growth.

  • Chinese buyers change Hong Kong targets

    14 January 2010

    The focus of China's property buyers has shifted in recent months from Hong Kong's luxury housing market to mass-housing units selling for range of between HK$2m and HK$5m.

  • Colonial freezes $785m fund default fears

    14 January 2010

    Colonial First State, Australia’s biggest asset manager, froze an A$850m ($785 million) mortgage income fund to withdrawals after signs some of the commercial property loans may sour.

  • China price surge shows bubble risk

    14 January 2010

    China’s property prices rose at the fastest pace in 18 months in December, highlighting the government’s struggle to rein in speculation while maintaining economic growth.

  • South Korean pension fund buys £393m office building

    12 January 2010

    South Korea’s National Pension Service (NPS) has invested A$685m (£393m) in a Sydney office building, in what is thought to be one of the largest Australian property deals in two years.

  • Hotel chain eyes Asia-wide move

    12 January 2010

    In a bid to become a truly international brand, hospitality major Amari, which currently has 11 properties across Thailand, has gone on a major expansion spree, and identified several key destinations abroad, including Singapore, Hong Kong and London, with India being the most significant market for its expansion and growth.

  • Singapore hit by New York default

    12 January 2010

    Government of Singapore Investment Corp., manager of more than $100bn of the city-state’s foreign reserves, reported losses from its investment in Manhattan’s largest residential enclave.

  • Aussie listed property sector to gain ground

    12 January 2010

    The listed property sector, which had regained almost $18bn of its market value in the past 12 months, is expected to gain further ground this year.

  • Australian home loans dipped 5.6%

    12 January 2010

    Australian home-loan approvals fell in November by the most in 18 months as central bank Governor Glenn Stevens led the world in raising borrowing costs.

  • Hong Kong luxury home price jump 20%

    12 January 2010

    Hong Kong luxury home prices may rise 20% this year as the economy expands and supply remains limited, real estate broker CB Richard Ellis Group said.

  • Oz watchdog warns on company statements

    11 January 2010

    Australia's corporate watchdog is warning companies it will target going-concern statements related to debt refinancing and the value of asset writedowns, of which it expects more, in the coming reporting season.

  • Aggressive HK bidding shows developers still bullish

    11 January 2010

    Developers have signalled continued confidence in the mainland property market by taking part in aggressive bidding at land auctions yesterday.

  • Australian to pull in overseas buyers

    11 January 2010

    Australian commercial property sales to overseas buyers are set to increase by about a quarter in 2010 as international investors are lured by the nation’s economic growth, according to Kevin Stanley, head of research at CB Richard Ellis.

  • Australian building shrinks for second month

    8 January 2010

    Australia’s building industry shrank in December for a second month as demand fell for new apartments and engineering construction.

  • Top investors says China will avoid crash

    8 January 2010

    Investor Mark Mobius said the bubble in China’s property market isn’t about to burst.

  • Hong Kong’s new ‘mega-shed’

    8 January 2010

    Goodman Group and Goodman Hong Kong Logistics Fund, through their Goodman Interlink Limited joint venture, have begun development of one of the first large-scale warehouse and distribution centres to be built in Hong Kong for almost a decade

  • Emerging Asian markets will 'spearhead' global recovery, says PRUPIM

    7 January 2010

    Emerging Asian economies are likely to spearhead the next phase of the recovery of the global property market, fund manager PRUPIM said today.

  • Indian real estate 'not long term bet' say analysts

    7 January 2010

    'Stay off real estate' say investment consultants, who also warn clients still optimistic about the prospects of the sector to tread with 'extreme caution.' Worse, of late, even some mutual fund managers have joined the chorus, questioning the veracity of the claims of a turnaround made by realty firms.

  • PRUPIM's International Real Estate Perspective - January 2010

    18 December 2009

    "After the synchronized worldwide slowdown, global economies are making good progress towards recovery with economic statistics confirming that the United States and Japan pulled themselves out of recession in the third quarter of the year. While the recovery trend is established in the majority of the G20 countries, a few nations, including the UK and Spain, are lagging behind, recording further economic contraction over the third quarter."

  • S Korea's National Pension Service buysSydney office block

    6 January 2010

    South Korea's National Pension Service today said it had signed a contract to buy an office building in Sydney for about A$658m.

  • Macau work to boost luxury home prices

    6 January 2010

    Macau luxury properties could play catch-up with price rises elsewhere in the region in the New Year, driven by a confidence-boosting resumption of work on its Cotai mega-resort and a fresh influx of expatriate construction and casino staff.

  • Centro names new chief executive

    5 January 2010

    Centro Properties Group has appointed Robert Tsenin as the new group chief to replace Glenn Rufrano.

  • Emaar seeks talks over $600m Bali resort

    5 January 2010

    Emaar Properties will meet with Indonesian authorities in early 2010 to address progress on its $600m planned resort development in Bali, the Dubai developer told Arabian Business on Tuesday.

  • Despite warnings, China demand grows

    4 January 2010

    Warnings from the central government that more measures may be needed to curb soaring property prices have failed to slow home-buying demand or halt land acquisitions by developers.

  • Healthy Australian home market

    4 January 2010

    Australia's housing market ended the year well despite recent interest rate hikes, talk of a recession and the phasing out of the first-home buyer grant.

  • Reality check for Hong Kong property market

    29 December 2009

    The froth is coming off Hong Kong's property market, with bidding at the biggest government land auction in two years failing to reach the high prices forecast by analysts.

  • Loans relief for Centro

    22 December 2009

    Centro Properties Group says noteholders have agreed to extend five loans worth $370m due to mature this month.

  • Guangzhou land auction trigger HK$18.74bn bid

    22 December 2009

    With Beijing attempting to cool the property market, Guangzhou will hold a land auction today for a site that has already attracted an opening bid of 16.5 billion yuan (HK$18.74 billion), making it the most expensive in the country.

  • Wadhwa pays top price for Mumbai land

    22 December 2009

    In the city's largest land transaction of 2009, the Mumbai-based Wadhwa Group is believed to have recently concluded negotiations to buy the 18-acre Hindustan Composites land in Ghatkopar for Rs 570 crore.

  • Aussie home lender faces A$2.5bn default

    21 December 2009

    RHG Ltd, the Australian home lender, said a court ruling that it breached a loan covenant may trigger defaults on as much as A$2.5bn of debt. The shares fell to a three-month low.

  • China could raise deposit terms to stem speculation

    21 December 2009

    China may raise the down payment requirement for purchases of second homes to 50 percent in a bid to curb speculation in the property market, Beijing Business Today reported on its Web site, citing an unidentified person.

  • Lend Lease set to sell to fund Sydney scheme

    21 December 2009

    Lend Lease Group, Australia’s largest developer, will sell buildings as it completes them to fund a A$6bn ($5.3bn) development aimed at reviving Sydney as an Asia-Pacific financial and business hub.

  • Savills performance `significantly’ ahead of expectations

    17 December 2009

    Increased transactions in the UK and Asian markets have led to Savills expecting to 'significantly' outperform its previous expectations for 2009.

  • Foreign buyers urged to do China research

    16 December 2009

    Buyers considering buying a flat in China should thoroughly research the project's location, building quality, and the country's tax system before signing a sales and purchase agreement, property agents say.

  • Kuwait Finance House quits Malaysian tower deal

    16 December 2009

    The Malaysian unit of Kuwait Finance House has pulled out of a 920 million ringgit ($270m) deal to buy part of an office tower from a local property developer.

  • Pinewood Shepperton agrees studio deal with Malaysian government

    16 December 2009

    Pinewood Shepperton has reached an agreement with the investment arm of the Malaysian Government to develop a film and television studio facility in southern Malaysia.

  • Indian Reserve Bank set to allow external commercial funding

    15 December 2009

    The Reserve Bank of India is considering a proposal to allow real estate players to access external commercial borrowings for integrated townships, even if they deal with other types of real estate projects.

  • GPT Group sells A$100m unit for A$3

    15 December 2009

    Property trust GPT Group has sold its loss-making British funds manager Halverton for A$3.20 after paying about $100m for the business more than two years ago.

  • China developers dive on growth curb moves

    15 December 2009

    China Vanke led declines by the nation’s developers after the official Xinhua News Agency said the government will target 'excessive' growth in property prices in some cities.

  • New Zealand house rises slow

    14 December 2009

    New Zealand house prices increased at a slower pace in November and property sales fell for a second month as home-loan interest rates increase.

  • China home spike ahead of curbs

    11 December 2009

    Chinese home prices rose along with the number of transactions last month as buyers rushed to beat expected government measures to cool the property market.

  • Shinsei set to sell Tokyo building for $1.6bn

    11 December 2009

    Shinsei Bank, the Japanese lender merging with Aozora Bank, plans to sell the Pacific Century Place building in Tokyo to Secured Capital Japan for about $1.6bn, two people familiar with the deal said.

  • Aussie house price growth 'set to continue'

    11 December 2009

    Australian house prices are expected to gain further next year as population growth outstrips the supply of new homes, Australian Property Monitors said.

  • Doubts over Hong Kong flat price claim

    11 December 2009

    Weeks after a Hong Kong developer announced it had sold a flat for HK$439m (£35m), the eye-catching price tag is still being treated with scepticism.

  • China acts to curb property speculators

    10 December 2009

    China scrapped a tax break on property sales and extended subsidies for auto and home appliance purchases, seeking to cool speculation while sustaining a recovery in the world’s third-largest economy.

  • Lend Lease to launch bargain hunt fund

    9 December 2009

    Lend Lease is to launch a A$400m private equity fund to invest in distressed assets in Australia.

  • China set to curb property speculation

    9 December 2009

    China is to crack down on speculation in the property market and try to increase the supply of lower-cost housing, said the head of the country’s powerful planning agency.

  • Shanghai, HK and Beijing seen as top Asia markets

    8 December 2009

    Shanghai is rated by international property professionals as Asia's top real estate market next year, followed by Hong Kong and Beijing, according to a survey by the Urban Land Institute and PricewaterhouseCoopers.

  • JSM Indochina directors ousted at EGM

    7 December 2009

    Shareholders of JSM Indochina, an AIM-listed property company, today voted to remove half of its board, including its chief executive, at an extraordinary general meeting.

  • China developers beat annual targets

    7 December 2009

    Property sales among major Chinese developers have exceeded expectations this year.

  • Mumbai scheme sees 25% price cuts

    7 December 2009

    Royal Palms India has cut commercial real estate prices by 25% to woo more buyers and investors into its 240-acre estate.

  • Aussies fund's values stabilise

    7 December 2009

    Further signs are emerging that the commercial property market has stabilised after reports by the Commonwealth Bank-backed CFS Retail Property Trust that the value of its shopping centre portfolio remained flat for the half year.

  • HK prices dip on Dubai debt fears

    7 December 2009

    Hong Kong home prices fell 1.3% in the week ended last Saturday to the lowest in nine weeks, amid concern that Dubai's attempts to delay debt repayments could trigger another credit crisis.

  • Lend Lease ponders move for ING retail property fund

    4 December 2009

    Lend Lease Group, Australia’s largest property developer, may buy the ING Retail Property Fund to gain assets including the Joondalup shopping center in Perth and the Harbour Town complex on the Gold Coast.

  • Japan housing starts set for 48-year low

    4 December 2009

    Japan housing starts may drop to a 48-year low as a sluggish economy discourages homebuyers, Takeo Higuchi, head of the country’s largest home builder, said.

  • HK developers shrug off bubble talk

    4 December 2009

    Henderson Land Development and Sun Hung Kai Properties, two of Hong Kong's leading developers, have defied warnings about the risk of a bursting real estate bubble, predicting home prices will continue to rise substantially next year.

  • India's Unitech to develop 30m sq ft

    4 December 2009

    The country's second largest real estate developer Unitech today said it will invest Rs 4,000 crore in construction of up to 30m sq ft of residential and commercial spaces to be launched by next year.

  • Australia 'best prospect in Asia-Pacific'

    3 December 2009

    Sydney and Melbourne are among the 10 most favourable investment locations in the Asia-Pacific region for next year, a survey finds.

  • 'No takers' for India's affordable housing

    3 December 2009

    Months after developers flooded the market with housing projects tagged as "affordable", there seem to be very few takers. The reason: the actual area of many of these flats is far less than usual. Others are being rejected because of poor location.

  • Tata arm targets second city

    2 December 2009

    Tata Realty And Infrastructure Limited, a 100 subsidiary of Tata Sons, has announced its plans to develop a landmark residential project at Kochi in Kerala.

  • Split views over HK home price prospects

    2 December 2009

    Opinions about the outlook for Hong Kong home prices next year are sharply divided, with the biggest bulls forecasting a repeat of this year's 30% price gains, while others caution that prices have already hit the limits of buyer affordability.

  • World offices centres get cheaper by the dozen

    1 December 2009

    The world’s most expensive office markets all got a cheaper this year.

  • Oz building approvals show unexpected dip

    1 December 2009

    Australian home-building approvals unexpectedly fell in October for the first time in five months after the government reduced grants to first-time buyers and the central bank raised interest rates.

  • Goldman offers Shanghai $300m resi block

    30 November 2009

    Goldman Sachs is in talks to sell a residential property investment in Shanghai for more than $300m as it seeks to take profit in the mainland's property market before expected policy risks emerge next year, say sources familiar with the decision.

  • New HK home loans seen nearing 1997 peak

    30 November 2009

    Mortgage brokers expect new home loans to reach HK$238bn next year, a 19%t increase on this year and the highest since the HK$256 billion at the market peak in 1997.

  • Hong Kong weekend sales down 16%

    30 November 2009

    Hong Kong’s weekend home sales fell 16% at major developments as concerns about Dubai World’s debt prompted buyers to slow purchases, Centaline Property Agency said.

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    27 November 2009

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  • Cheung Kong first to move under new HK rules

    27 November 2009

    Cheung Kong will be the first to offer its residential project in Tseung Kwan O for sale following the government's recently announced regulations on property sales disclosures.

  • China property to rise on liquidity

    27 November 2009

    China’s real-estate prices will likely continue to gain in the next three to five months on strong liquidity and rising inflationary expectations, according to Deutsche Bank.

  • Unitech seeks township funds

    25 November 2009

    India’s second-largest property company Unitech will raise $700m through foreign currency convertible bonds. The company has sought approval from the Department of Industrial Policy and Planning and the Reserve Bank of India to raise the fund through convertible instruments.

  • Aussie REIT targets long-term growth

    25 November 2009

    Some $2bn worth of development projects within its existing portfolio would drive the growth of the GPT Group, chief executive Michael Cameron has said.

  • London and New York agents woo Chinese buyers

    25 November 2009

    Estate agents from London and New York are beating a path to wealthy buyers in China and Hong Kong to sell upmarket flats on their books.

  • Japan's Anabuki Construction collapses

    25 November 2009

    Japan property shares fell to a six-month low after developer Anabuki Construction Inc. filed for bankruptcy with 140 billion yen ($1.58bn) in debt, the nation’s fifth-largest corporate failure this year.

  • China central bank urges: stop stimulus now

    23 November 2009

    China should immediately halt some of its real estate stimulus policies, or risk inflating a bubble that in its bursting would wreak financial and even social trouble, a government newspaper said.

  • Indian developers eye integrated model

    23 November 2009

    Integrated township is the new buzzword with realtors planning huge investments in projects that they say would reduce pressure on city infrastructure and bring in crores of investment into the housing sector.

  • Record price paid for Beijing housing site

    23 November 2009

    A low-density housing lot in Beijing sold for 29,859 yuan (HK$33,893) per square metre yesterday - the highest unit price for a residential site on the mainland.

  • Singapore to assess intervention impact

    23 November 2009

    Singapore will study the impact of existing measures to deter speculative property purchases before taking more steps to rein in prices, National Development Minister Mah Bow Tan said.

  • Colonial First State eyes Sydney sale

    23 November 2009

    Colonial First State Property is in exclusive talks with a potential buyer to sell the Aurora Place office tower in Sydney by mid December.

  • Top Aussie property chiefs bag A$64m

    20 November 2009

    The listed property sector's 12 highest-paid chief executives earned a total of A$64m, including bonuses and incentives in a year when listed property companies accounted for half the losses of corporate Australia.

  • India's property registration fee ceiling removed

    19 November 2009

    Revenue department has approved a proposal to levy a flat 1% charge on property registrations with immediate effect, doing away with the Rs 30,000 ceiling.

  • Lend Lease dumped from Melbourne project

    19 November 2009

    Lend Lease has lost its role in a A$370m town centre redevelopment project in Melbourne's northeast.

  • Taipei to see 15% residential price increases

    19 November 2009

    Taipei's residential prices may rise 15% next year, more than in Singapore, Hong Kong and on the mainland, because there is more competition among homebuyers in the city.

  • Centro Retail seeks to slash loan ratio

    17 November 2009

    Centro Retail Trust yesterday flagged a $3.75bn capital transaction - possibly through a float of property assets - that would be part of a major restructure of the debt-laden Centro group.

  • Falling property sales hits India's stamp duty collection

    17 November 2009

    The dip in property sales has taken its toll on the Stamp Duty revenue in India.

  • Singapore's biggest IPO for 15 years raises China funds

    17 November 2009

    CapitaLand Ltd raised S$2.47bn ($1.79bn) selling shares in its CapitaMalls Asia Ltd unit in Singapore’s biggest initial public offering since at least 1993.

  • India's Real Estate Act will not regulate prices

    16 November 2009

    India's proposed Real Estate Act, which is expected to be laid before Parliament next month, will not include regulation of residential property prices, a top Government official said.

  • Aborted China theme park makes way for housing project

    16 November 2009

    After languishing for six years on the outskirts of Shenyang in Liaoning province, Holland Village, the huge aborted theme park development, is gearing up for new life as a mega residential project under its new owner, China Overseas Land and Investment.

  • Taipei house prices set to beat China

    13 November 2009

    Taipei’s residential prices may rise 15% in 2010, more than in Singapore, Hong Kong and China, because there is more competition among homebuyers in Taiwan’s capital, according to CLSA Ltd. analyst Tayher Lim.

  • New Zealands October house index jumps 1.3%

    13 November 2009

    New Zealand house prices increased in October, adding to signs that record-low interest rates are helping the property market recover.

  • GPT unwinds hedges to cut interest

    13 November 2009

    Property trust GPT Group today said it unwound its A$1.2bn of excess offshore interest rate hedges at a cost of A$152m to simplify its financial position and reduce interest costs.

  • Colliers CRE's Asia Pacific Office Market Overview: October 2009

    13 November 2009

    "Amid the gradual improvement of global economic fundamentals, the office market in the region also showed further encouraging signs of recovery during 3Q2009. Although the overall occupational demand is yet to recover to the pre-financial crisis levels seen in the first half of 2008, there were positive notes showing market stabilisation and a significant improvement in market confidence in 3Q2009."

  • DLF owners to buy DE Shaw hedge fund stake

    12 November 2009

    The founders of DLF, India’s biggest real estate developer, have reached an agreement with DE Shaw to buy out the hedge fund’s stake in DLF Asset and may list the unit in Singapore, the Economic Times reported, citing two people directly involved in the transaction.

  • Shanghai scheme breaks another record

    12 November 2009

    Tomson Riviera, a luxury waterfront residential estate in Shanghai, is again claiming the record for the most expensive flat on the mainland after a unit on the 28th floor was sold for 160,844 yuan (HK$182,206) per sq m.

  • Westfield cuts rents in US malls

    12 November 2009

    Westfield Group said today it was lowering rents and offering shorter leases in its shopping malls in the recession-hit United States to attract business.

  • Indian commercial property sentiment subdued

    12 November 2009

    Commercial property sentiment in India is still subdued though an improvement is noticeable over the second quarter, the RICS has said.

  • Chinese house prices rising despite loan curbs

    11 November 2009

    Housing prices in 70 mainland cities continued to grow last month, showing tighter restrictions on second-home mortgages had yet to make an impact on the property market.

  • HK serviced office providers tap mainland client base

    11 November 2009

    Providers of serviced offices in Hong Kong are tapping into a strong new customer base as growing numbers of mainland firms hunt for cost-effective accommodation for their business operations in the city.

  • China house price rise steepest for 14 months

    10 November 2009

    China’s house prices jumped the most in 14 months in October, adding to concern that record lending may create asset bubbles in the world’s fastest-growing major economy.

  • Vietnam property company up on bond sale

    10 November 2009

    Vincom Joint-Stock Co, Vietnam’s second-biggest listed property company, rose to a record high on plans to sell its first overseas bond.

  • Property, infrastructure 'hurt by bank lending terms'

    10 November 2009

    Ausatralian banks have imposed tighter terms and conditions on their lending, presenting significant repercussions for the property and infrastructure sectors, the head of domestic markets at the Reserve Bank of Australia, John Broadbent, has said.

  • Indians buy as Manhattan falls below Mumbai

    9 November 2009

    Indians now account for close to 20% of all realty sales in Manhattan, and 30% of all enquiries made, says Raphael De Niro, MD of New York’s biggest property brokerage firm Prudential Douglas Elliman. 'India and China are now replacing the buyers from Eastern Europe,' he says.

  • Singapore banks warns speculation may be reined in

    9 November 2009

    Singapore’s central bank said it may be 'necessary' to implement more measures to counter real- estate market speculation, joining China and Hong Kong in signalling a need to rein in soaring property prices.

  • China may curb use of debt

    9 November 2009

    China’s central bank and banking regulator may 'soon' issue measures to limit the use of debt in real-estate purchases after asset prices climbed, a Shanghai official said.

  • Johnson Controls lands Motorola contract

    6 November 2009

    Johnson Controls Global WorkPlace Solutions has won a real estate services contract with Motorola.

  • Shanghai farmers lose fields to Disney

    6 November 2009

    Walt Disney newest castle may rise from the Shanghai fields of retired farmers.

  • AMP buys stake in Singapore REIT

    6 November 2009

    AMP Capital Investors has become a partner of the Sydney-based AIMS Financial Group in Singapore by taking a strategic stake in a listed trust and its management company.

  • HK office leasing 'in transition'

    6 November 2009

    Hong Kong's office leasing market appears to be undergoing a period of transition as rents and vacancy rates head in opposite directions, according to CB Richard Ellis.

  • West meets East

    6 November 2009

    Sniper Capital: taking aim at Macau

  • A rice-to-riches tale

    Global November 2009

    When rice farmer Yang Guoqiang created Chinese developer Country Garden in 1997, he was one of a new generation of tycoons that benefited from the liberalisation of the country’s property market

  • Boomerang fortunes of Australian reits

    Global November 2009

    January 2008, when shopping centre developer Centro said it had defaulted on more than A$1.3bn (£727m) of debts and was having trouble refinancing A$3.9bn (£2.2bn) more, was the beginning of a torrid period for Australia’s listed real estate sector.

  • My Big Move: November 2009

    Global November 2009

    Daniel Parkes, the 27-year-old country manager of CB Richard Ellis’s new Cambodia office, talks to Lucy Scott about moving to one of the world’s “last frontier economies”

  • West meets east

    Global November 2009

    Established cross-border investors are flocking into Asia-Pacific’s rapidly recovering property markets. Over the next seven pages, Lucy Scott talks to institutions about the markets they are targeting

  • What opportunities are there in the South Korean market?

    Global November 2009

    South Korea is recovering faster than expected from the global downturn, and there is a strong possibility that interest rates will increase before the end of the year because of concerns about a new property bubble

  • Which market sector offers the best potential in Japan?

    Global November 2009

    The Japanese economy

  • Who’s who: November 2009

    Global November 2009

    Asia-Pacific’s property tycoons

  • You can still register for our FREE webinar on investing in the Asia Pacific region

    5 November 2009

    Property Week Global is launching the Global Investment Club live webinar series on 9 November, dedicated to the opportunities and challenges of investing in the Asia Pacific region.

  • Retailers bypass HK for mainland China over cost

    5 November 2009

    International retailers are bypassing Hong Kong to open stores on the mainland instead, because of the limited supply and higher cost of prime retail space in the city.

  • No bubble dangers for India, says DLF

    5 November 2009

    DLF India’s biggest developer, sees no danger of a housing 'bubble', a week after the central bank increased efforts to curb home prices.

  • HK sales drop as prices rise

    5 November 2009

    Property sales in Hong Kong fell 23% last month from September, the first month-on-month decline in seven months, as buyers turned cautious after the sharp price rises of the past few months.

  • Philippine power, property plays tipped on incentives, BPI says

    4 November 2009

    Philippine investors should buy power and property stocks, including Energy Development Corp. and Robinsons Land Corp., as these companies will get an earnings boost from laws on renewable energy and real estate investment trusts, Bank of the Philippine Islands said.

  • Agile said to be marketing bonds to yield about 10.5%

    4 November 2009

    Agile Property Holdings Ltd., a Hong Kong-based developer of Chinese real estate, began marketing a planned sale of $300 million of seven-year bonds, according to a person familiar with the issue.

  • China regulators to review debt levels

    3 November 2009

    China’s banking regulator plans to review debt levels at some real-estate developers on concern the companies’ borrowings are fuelling excessive gains in property prices, a person familiar with the matter said.

  • Aussie land levies 'pricing out buyers'

    3 November 2009

    Australia's federal housing minister Tanya Plibersek has warned that state governments and local councils risk pricing first-home buyers out of the market by milking the property industry for too much tax.

  • Shanghai builders up on Disney rumour

    2 November 2009

    Shanghai Lujiazui Finance & Trade Zone Development and other local developers rose after a report China approved a planned Walt Disney theme park for the city and the mayor said an announcement may come this week.

  • Luxury HK deals lose steam as brakes bite

    2 November 2009

    Hong Kong banks have begun applying the brakes on home loans, and the consequences are already visible as the recent run of world record-breaking purchases of luxury homes in the city comes to an end.

  • Smaller developers fill Hong Kong niches

    2 November 2009

    Mid-tier developers are trying to carve out a competitive niche for themselves in the city's crowded property market by responding to demand for smaller but smarter projects.

  • Australian house prices up in third quarter

    2 November 2009

    Australian house prices rose in the three months through September for a second quarter as government grants spurred demand among first-time buyers.

  • IPOs test Asia property demand

    2 November 2009

    CapitaLand, Southeast Asia’s largest developer, and China’s Longfor Properties may raise a combined $3bn in share sales that will test demand for Asian property stocks.

  • Henderson's Lee bets on HK boom continuing

    30 October 2009

    Billionaire Lee Shau-kee said he has sold as much as 30% of his Hong Kong stock investments and is buying land, betting that the government’s efforts to cool home prices won’t work.

  • Big spenders in A$300m Oz spree

    30 October 2009

    Private investors and offshore groups have swooped on more than A$300m worth of office buildings and retail centres in Brisbane and Sydney, with retail billionaire John van Lieshout among those involved in the shopping spree.

  • Taiwan builders dive after loan curb call

    29 October 2009

    Farglory Land Development led declines by Taiwan builders after the United Daily newspaper said the central bank asked the island’s state-owned lenders to curb loans used for property investment.

  • JSM Indochina buys 'distressed' Vietnam towers

    28 October 2009

    JSM Indochina has bought two ‘distressed’ luxury residential tower schemes in Ho Chi Minh City for $65m.

  • Hong Kong developers seek land sale revamp

    28 October 2009

    Hong Kong’s biggest developers called on the government to revamp the way it sells land after tight supply led home prices to surge 28% this year.

  • Jones Lang LaSalle back in the black

    28 October 2009

    Jones Lang LaSalle made a net profit of $20m, or 46c a share, during the third quarter of this year but failed to meet analysts’ targets.

  • ING Industrial Fund seeks fund to clear debt and build

    27 October 2009

    ING Industrial Fund, owner of industrial properties in Australia, Canada and Europe, is seeking to raise A$700m to repay debt and resume development activities.

  • HK property bubble 'could reach level of 1997'

    26 October 2009

    Analysts warn that Hong Kong could see a repeat of the 1997 property bubble as government figures show that the supply of new flats has dropped to a five-year low, a condition that could boost prices to unsustainable heights.

  • Gemdale posts higher profits

    26 October 2009

    Gemdale Corp, China’s eighth- biggest property developer by market value, said third-quarter profit rose more than fourfold after it wrote back a charge.

  • Lending tightened on HK luxury homes

    26 October 2009

    Rising housing prices in Hong Kong have spurred the government to introduce measures to rein in growth by tightening mortgage criteria for home buyers and investors.

  • Oz auctions put pressure on interest rates

    26 October 2009

    Another strong weekend for property auctions has intensified pressure on the Reserve Bank to increase interest rates.

  • Centro regulators eye PWC

    23 October 2009

    The corporate watchdog's case announced yesterday against Centro directors may trigger a class action targeting the shopping centre owner's auditor, PricewaterhouseCoopers.

  • Macau expansion funds sought

    23 October 2009

    Las Vegas Sands Corp., the casino company controlled by billionaire Sheldon Adelson, is seeking as much as $2bn to restart mothballed projects in Macau, chief operating officer Michael Leven said.

  • Mainland China 'risks property bubble'

    23 October 2009

    The mainland is risking property market 'bubbles' to encourage growth in the economy, former Morgan Stanley Asia economist Andy Xie says.

  • Builders want HK auction system tweaked

    23 October 2009

    Developers in Hong Kong last night jointly urged the government to improve the existing land application list system amid heated debate over high property prices in the city.

  • Shareholders plans to oust JSM Indochina directors

    22 October 2009

    Former Gazeley chairman Duggan proposed as replacement.

  • Veteran investor quits HK retail as yields hit 2%

    21 October 2009

    The spiralling prices of retail shops in Hong Kong have driven investment yields in the sector to unreasonably low levels, according to a veteran retail property investor who has quit the market which he says has become overvalued.

  • Former-Macquarie and Lehman bankers plan $148m property fund

    21 October 2009

    Moss Capital, formed by ex-Macquarie Group and Lehman Brothers Holdings Inc. bankers, is close to completing a A$160m fund that will invest in Australian property.

  • Former Centro CEO sued by regulators

    21 October 2009

    Centro Properties Group’s former chief executive officer was sued by Australia’s securities regulator after the mall owner’s failure to refinance debt led to shareholder losses of more than A$8bn.

  • Hong Kong may stop mortgage insurance for investors

    21 October 2009

    The Hong Kong Monetary Authority may scrap a program that offers mortgage insurance for investment properties as the city’s central bank tries to prevent a real estate bubble.

  • Beijing needs time to adjust say developer

    20 October 2009

    Soho China, the biggest property developer in Beijing’s central business district, said the area needs time to 'digest' its current supply of land and commercial property.

  • GPT eyes Oz after overseas sale

    20 October 2009

    GPT Group is 'well placed' to buy commercial properties in Australia after selling most of its overseas assets, chief executive officer Michael Cameron said.

  • India Property demand up 15%

    20 October 2009

    Property saw a growth in demand of 15% in the second quarter of financial year 2009-10, after slowing down to 10% during the first quarter of 2009-10. The rise has, of course, been helped by the base effect of a negative growth in the corresponding quarter of the previous year. This is still way off the 35% to 40% growth witnessed in January to March 2008 in metros. The figures are culled from a cross-sectional survey of the reports of chief real estate tracking firms.

  • Landlord can evict a tenant for 'own business', rules Indian supreme court

    19 October 2009

    A tenant can be evicted if the landlord wants to start his own business even in a field in which he or she has no prior experience, the Supreme Court has ruled.

  • Dalton to merge Japanese units

    19 October 2009

    Dalton Investments, the Los Angeles-based fund with $1.3bn in assets, will merge its Japanese unit with real estate investment specialist Lexington Corp to cut costs and help raise funds as markets recover.

  • Goldman's Accordia targets Japan golf courses

    19 October 2009

    Accordia Golf Co, in which Goldman Sachs Group is the biggest shareholder, increased its credit lines to 16.5 billion yen ($182m) to help buy golf courses in Japan, said two people familiar with the matter.

  • Australia a 'beacon' investor says

    19 October 2009

    The outlook for Australian listed property trusts is improving as the nation’s currency strengthens and the local economy weathers the global recession, according to AMP Capital Brookfield.

  • China's Evergrande seeks $780m from IPO

    19 October 2009

    Evergrande Real Estate Group, the largest Chinese developer by third-quarter sales, aims to raiseup to HK$6.05b ($780million) in a Hong Kong initial public offering, according to a sale document.

  • Yuzhou Properties bets on Xiamen rebound

    16 October 2009

    Yuzhou Properties is among the flood of mainland property developers about to float their shares on the Hong Kong stock exchange in the next few weeks. It is is banking on a resurgence in Xiamen after last year's credit tightening pushed down property prices in Fujian.

  • Indian office rents slip on oversupply

    16 October 2009

    Excess supply has made office rentals in key commercial centres in Mumbai and Delhi come down by half over last year, and realty analysts fear that with business houses waiting for economic activity to pick up speed and a raft of new commercial facilities nearing completion, the rates could head further southwards.

  • Future Fund pours $1.1bn into vulture fund

    15 October 2009

    In its biggest property play to date, the Future Fund has committed $US1bn to Canadian giant Brookfield's $US5bn real estate vulture fund.

  • China's economy recovery pushes up house prices

    15 October 2009

    China’s home prices rose at the fastest pace in a year in September and inflows of foreign direct investment quickened as a recovery gathered pace in the world’s third-biggest economy.

  • China developers set for IPO hearings

    14 October 2009

    Three Chinese property developers will have their initial public offering proposals vetted by the Hong Kong stock exchange’s listing committee next week.

  • HK market wants sounder planning

    14 October 2009

    The revitalisation of industrial space is tipped to be the main property sector focus of today's policy speech by Chief Executive Donald Tsang Yam-kuen, but market players have a long list of additional measures they would like to see enacted by the government.

  • Tishman's Australia fund hits the buffers

    14 October 2009

    In late 2004, when Tishman Speyer Properties became one of the first US real-estate companies to launch a publicly listed fund on the Australian Stock Exchange, the future looked bright.

  • Lend Lease to become a 'stapled entity'

    14 October 2009

    Lend Lease has joined Mirvac and Stockland in moving to become a stapled entity.

  • Unitech ahead of previous years

    14 October 2009

    Unitech, India’s second-biggest real estate player by revenue, on Tuesday said it has booked sales worth Rs 3,913 crore in the first six months of the fiscal 2010, selling 10.11 million sq ft, which is almost the same space sold by it in each of fiscal 2007 and 2008 — the boom years for real estate.

  • Lotte said to hold talks to buy Times, rivaling Wumart’s bid

    12 October 2009

    Lotte Shopping Co., South Korea’s biggest department store owner, is in talks to buy control of Chinese supermarket operator Times Ltd., rivaling a bid from Wumart Stores Inc., two people familiar with the matter said.

  • New World profit dive on falling sales

    9 October 2009

    New World Development said yesterday its net profit plunged 78.5% to HK$2.08bn for the year to June in the absence of new projects offered for sale and on fair-value losses on investment properties.

  • Shimao buys second Xiamen site

    9 October 2009

    Shimao Property Holdings says it has bought a prime site in Xiamen for 709 million yuan (HK$805m), its second acquisition in the city since June.

  • Indian homes still out of reach of middle classes

    9 October 2009

    Property prices across India are 10-25% lower than their peak in early 2008. Bank rates are about 4% points lower. Still, the vast majority of the exploding middle class, which aspires to own a home, is not taking the plunge. Homes are still not affordable. Those described as 'affordable homes' are hardly homes.

  • Hong Kong mortgage rates set for 2010 rise

    7 October 2009

    Hong Kong’s mortgage rates, at their lowest in at least 19 years, may begin rising in the middle of next year, according to the head of the city’s second-biggest home-loan provider.

  • HK developers target old buildings

    7 October 2009

    Developers are aggressively hunting for old buildings to redevelop and that means more and more of the quaint old shops that give Hong Kong its unique architectural heritage are disappearing from the streetscape.

  • Oz mortgages falls on interest fears

    7 October 2009

    Australian housing finance fell in August for the second consecutive month as demand for mortgages crimped.

  • McCabe quits Valad on final payment

    6 October 2009

    Kevin McCabe has quit the board of Valad Property Group after receiving the final $56.5m payment for the European property assets he sold to the company.

  • Local builder bags Delhi slum project

    6 October 2009

    Delhi Development Authority has awarded Delhi’s first slum redevelopment project, worth Rs 500 crore, to a local builder, Raheja Developers, in a move that may see more such projects in the national capital resulting in better living conditions for urban poor and thousands of crores of businesses for builders.

  • Hong Kong luxury homes deals triple

    6 October 2009

    Hong Kong’s luxury home sales almost tripled in September from a month earlier, as mainland Chinese residents flocked to buy flats in the city.

  • Soho China tops previous years sales

    5 October 2009

    Soho China sold 7.9 billion yuan worth (HK$8.97bn) of property in the first three quarters of the year, already surpassing last year's total.

  • Glorious shares is fifth flop after IPO

    2 October 2009

    Glorious Property Holdings Ltd. fell as much as 20% on its first day of trading in Hong Kong, the fifth straight debut slump for an initial public offering in the city.

  • China Property Index hints at disaster

    2 October 2009

    China’s benchmark for property stocks is close to slipping below its 200-day moving average, signaling losses in global stocks and commodities and gains in the US dollar, according to Bank of America Corp.

  • Indian watchdog to examine property deals

    2 October 2009

    Financial Intelligence Unit, India’s anti-money laundering agency, wants to examine real estate deals. It has asked states to submit monthly data on registration of properties, a state government official, who did not wish to be identified.

  • Emaar eyes Indian IPO

    1 October 2009

    Emaar’s Indian property unit plans to raise $800m (Dh2.93 billion) through a share sale that it was forced to shelve last year because of tumbling global stock markets.

  • Hermès signs at Marina Bay Sands in Singapore

    30 September 2009

    Marina Bay Sands has signed up luxury French brand Hermès at its Singaporean entertainment and retail scheme in the business district of Singapore. Hermes joins other luxury brands including Tiffany in the high end retail mall area of the scheme.

  • Qatari Diar eyes Vietnam investments

    30 September 2009

    Qatar's property investment arm is in talks to explore opportunities in Da Nang City, Vietnam, officials from both countries confirmed in a statement on Wednesday.

  • Surging Chinese prices keep buyers at bay

    30 September 2009

    Sharply higher prices have kept prospective homebuyers away from the mainland property market this month, traditionally a peak period for property sales in the country.

  • Oz firms raise A$609m in US

    30 September 2009

    Australian property groups Macquarie CountryWide and Dexus have between them raised almost A$609m in capital in the US.

  • Chinese insurers get nod to buy commercial property

    30 September 2009

    Chinese insurance companies will be allowed to invest directly in commercial real estate for the first time under new regulations that could trigger an influx into the country’s high-end property market.

  • FREE webinar on investing in the Asia Pacific region

    29 September 2009

    Property Week Global is launching the Global Investment Club live webinar series on 9 November, dedicated to the opportunities and challenges of investing in the Asia Pacific region.

  • Sri Lanka feels peace dividend

    29 September 2009

    Sri Lanka's property market is feeling a peace dividend as Indian companies eye the potential of the island.

  • House prices 'set to soar' says Reserve Bank official

    29 September 2009

    Australia's housing market is about to take off, the RBA says, and rising prices and interest rates could hit affordability hard.

  • Longfor gets US$1b float back on table

    29 September 2009

    Investors keen on punting on mainland property stocks could get another candidate for their share portfolio, with upmarket residential developer Longfor Group said to be reviving plans to seek a US$1bn listing in Hong Kong.

  • Korea's pension service eyes HSBC HQ

    28 September 2009

    South Korea’s National Pension Service, the nation’s biggest investor, said it is interested in buying HSBC Holdings Plc’s headquarters building in London.

  • Creditors to take control of Tokyo property

    28 September 2009

    KK DaVinci Holdings, which runs Japan’s biggest private real estate fund, said creditors will take control of a Tokyo property one of its funds bought from billionaire Richard Li after it failed to repay loans.

  • Glorious IPO raises $1.28bn

    28 September 2009

    Glorious Property Holdings raised US$1.28bn from its Hong Kong initial public offering, after pricing near the low end of an indicative price range, two people familiar with the situation said Friday.

  • China mainland home prices set to lose steam

    25 September 2009

    Mainland housing prices have surged since March, but they will soon lose momentum and even start to fall around the end of the year, boding well for a more sustained contribution to overall economic growth.

  • Agile and Hopson in China spree

    25 September 2009

    Agile Property Holdings and Hopson Development Holdings have acquired development sites in Guangdong and Zhejiang provinces respectively for a combined 2.3 billion yuan (HK$2.61bn).

  • Multiplex Prime bid rejected by Oz regulators

    25 September 2009

    Nicholas Bolton's attempts to take control of the Brookfield Multiplex-backed Multiplex Prime Property Fund have failed, after the Takeovers Panel last night ruled that the renegade shareholder's $700,000 bid was launched in unacceptable circumstances.

  • Tata extends affordable housing scheme for India

    25 September 2009

    After making cars accessible to the common man with 'Nano', Tatas on Thursday extended their affordability drive to the housing sector by launching flats for as low as Rs 12.73 lakh for a two bedroom unit here.

  • Valad to settle debt to McCabe by raising new equity

    24 September 2009

    Valad Property Group has avoided handing over 19.9% control to Kevin McCabe by raising money from a sale of shares to pay him off.

  • Investors pour into Valad raising

    24 September 2009

    Valad, which limped to the end of the financial year with a A$1.49bn loss, has managed to secure up to A$59.5m in a capital raising backed by Goldman Sachs JBWere.

  • Malaysia property gets 'overweight' upgrade

    24 September 2009

    Malaysia’s property industry was upgraded to 'overweight' from 'neutral' at Maybank Investment Bank Bhd., saying low mortgage rates and greater affordability will spur demand for real estate.

  • Hong Kong sales dip on interest rate worries

    23 September 2009

    The number of sales recorded at key private housing estates dropped 12% last week and agents said this was because of concerns that banks might be poised to raise mortgage rates.

  • HK builders rush to beat new density rules

    23 September 2009

    Developers are in a race to win approval for ambitious building projects before the government resumes a campaign to lock in tighter planning restrictions over building heights and densities.

  • Mumbai high street rents crash more than 60%

    23 September 2009

    As the global slowdown pushed consumers to stay at home, retailers halted expansion plans and checked out of expensive high-street locations. Result: Rental rates at high street locations across the world crashed, with the biggest crashes in Mumbai.

  • Prime rents fall in more than 50% of retail streets globally

    22 September 2009

    Prime rents in over half of the world’s most prestigious shopping streets have fallen in the last twelve months as consumer spending and retail sales remain depressed, Cushman & Wakefield has said.

  • Indian retail rents slide 15%

    22 September 2009

    Rentals of retail spaces in the National Capital Region and Mumbai have fallen by up to 15% in the first half of this year over the past six months on account of low demand and high base effect of last year.

  • India's property companies expect to keep prices steady

    21 September 2009

    It will be a mistake to raise prices of homes now anticipating festive season demand and because of a fall in new project launches, since the revival of consumer interest may be fragile, according to some builders.

  • Stockland takeover talk picks up

    21 September 2009

    Mergers and acquisitions could soon wash over the Australian REIT sector, with the suggestion that Stockland could make a tilt at GPT gaining ground in recent times. GPT has been well supported by hedge funds, which last week pushed the stock up 7.03% to 69¢ per security - still half the price it was a year ago.

  • Powerlong to use IPO funds for land

    21 September 2009

    Powerlong Real Estate Holdings and a shareholder will raise as much as HK$4.9bn ($632m) in an initial public offering in Hong Kong, according to a sales document sent to investors.

  • Mainlanders drive up Kowloon penthouses

    18 September 2009

    Cashed-up mainlanders are among the super-rich sending luxury property prices in Hong Kong into the stratosphere, with two apartments in Kowloon on the market for a record-breaking HK$300m.

  • Sun Hung Kai hikes HK penthouse prices

    17 September 2009

    Sun Hung Kai Properties the world’s largest developer by market value, raised the price of two penthouses in Hong Kong by 50% to a record HK$75,000 ($9,700) a square foot as demand surges for luxury apartments.

  • Socam slides as investment gainsplummett

    17 September 2009

    Shui On Construction and Materials said interim net profit fell 9.9% to HK$787 million in the absence of gains on the disposal of investments available for sale.

  • Devine in $1bn retreat from residential

    17 September 2009

    Devine is retreating from more than A$1bn worth of Queensland residential projects, as some banks shy away from lending to the Queensland-based developer because of its relationship with Leighton Holdings.

  • Masterpiece props up quiet HK primary home sector

    16 September 2009

    Hong Kong's primary residential market remained relatively quiet during the weekend because of a lack of big property launches. Sixty transactions were concluded at the weekend, down from 65 flats sold a week earlier.

  • HK one-bed flat sells for record HK$24.5m

    15 September 2009

    A one-bedroom flat in a luxury development in Tsim Sha Tsui has fetched a whopping HK$30,025 per sq ft, setting a record in Hong Kong.

  • Collapsed Oz resorts come to market

    15 September 2009

    Receivers of the Mariner Coastal Land Fund have put two more resorts on the market from the collapsed tourism venture.

  • Singapore tightens home loan rules

    15 September 2009

    The Singapore government tightened rules for home loans and will take other measures to prevent excessive price swings and a bubble forming in the property market.

  • Indian textiles firms look to exploit land banks

    14 September 2009

    The revival of fortunes in the real estate sector is now seeing textile companies with huge land banks making a foray into property development . To date, most of the textile firms sold their land to developers. That is now making way for a different model where these firms would set up real estate companies.

  • Shun Tak surges on hotel sale

    14 September 2009

    Shun Tak Holdings Ltd, the ferry company and property developer controlled by billionaire Stanley Ho and his family, said first-half profit surged 20-fold on gains from property revaluation and the sale of a hotel stake.

  • KK DaVinci shares hammered on loan failure

    14 September 2009

    KK DaVinci Holdings fell by the daily limit in Osaka trading after the Japanese real-estate fund operator said it may not be able to get a loan extension on a building acquired from Hong Kong billionaire Richard Li.

  • Glorious names investors in IPO

    14 September 2009

    Glorious Property Holdings, the developer in nine Chinese cities that delayed its initial public offering last year, said billionaire Chen Din Hwa and Sino-Ocean Land Holdings will invest in its share sale.

  • New Zealand house prices on the up

    14 September 2009

    New Zealand house prices and sales increased in August, adding to signs that falling interest rates are helping the property market recover, according to a report from the Real Estate Institute of New Zealand Inc.

  • Billionaire eyes distressed island resorts

    14 September 2009

    Billionaire Bhupendra Kumar Modi, who made his fortune from mobile-phone services in India, is planning to invest $100m in distressed assets including the island resorts on Batam and Bintan neighbouring Singapore.

  • Indian billionaire's property firm set for IPO

    11 September 2009

    Godrej Properties, controlled by Indian billionaire Adi Godrej, plans an initial share sale in the next three months to fund low-cost housing projects.

  • Sydney top property feels downturn pinch

    11 September 2009

    The global financial crisis has cut deep into Sydney's top end housing market through a 45 per cent reduction in gross sales values.

  • McCabe to rebuild Valad

    11 September 2009

    Property entrepreneur Kevin McCabe to direct restructure of Australian group

  • JSM Indochina plans to join Official List

    10 September 2009

    AIM-listed Cambodian and Vietnamese property company JSM Indochina is planning step up to London Stock Exchange’s (LSE) Official List.

  • China house prices rise on investment surge

    10 September 2009

    China’s house prices in the nation’s 70 biggest cities rose at the fastest pace in 11 months on record lending and climbing confidence.

  • Oaktree ready to renew talks after Lone Star fails

    10 September 2009

    Oaktree Capital Management said it is ready to renew discussions with New City Residence Investment Corp. creditors who rejected a plan from Lone Star Funds to take control of Japan’s first failed property trust.

  • Sino Land down on drop in revaluation gains

    10 September 2009

    Sino Land, the sixth-largest developer in Hong Kong, yesterday said net profit dropped 52% to HK$3.73bn for the financial year to June because of a decline in revaluation gains on investment properties.

  • Multiplex sells low end Sydney residential sites

    10 September 2009

    Brookfield Multiplex has either sold, or is selling, Sydney residential development sites it had earmarked for projects worth at least A$500m, as it moves to exit lower end apartment developments to focus on masterplanned communities.

  • Mumbai flat fetches record price

    10 September 2009

    In the second highest deal in India for a residential apartment, a sprawling Cuffe Parade flat has been sold for about Rs 93,000 per sq ft.

  • Oman in India investment

    9 September 2009

    A sovereign fund of the Sultanate of Oman is investing roughly $125m, in Mangalore-based realty developer Mohtisham’s 300-acre integrated township, sources privy to the development said. The deal is probably the largest fund action in Indian tier-II real estate.

  • China sovereign fund eyes US

    9 September 2009

    China's $300bn sovereign-wealth fund is eyeing big investments in distressed US real estate, according to people familiar with the matter. To finance some of the deals, China may rely on an old trading partner: the US government.

  • Oz home loans slip

    9 September 2009

    Demand for housing loans fell for the first time in 10 months during July as the appetite for property by first-home buyers and investors waned.

  • HK home sales drop as launches dry up

    9 September 2009

    About 65 units were sold in the Hong Kong primary residential market during the weekend, about two-thirds fewer than the 200 units sold the previous weekend, because of a lack of big launches.

  • Japanese REIT to vote on rescue

    9 September 2009

    New City Residence Investment Corp.’s creditors will vote on Lone Star Funds’ revised plan to buy Japan’s first failed property trust at a meeting scheduled to begin this afternoon local time at Tokyo district court.

  • Speymill Macau reports minor valuation drop

    8 September 2009

    Speymill Macau has reported a portfolio decline of just $1m in its first results since the company’s board was ousted at an extraordinary general meeting on 1 July this year.

  • New Zealand's house prices rise for fourth month

    7 September 2009

    New Zealand house prices rose for a fourth month in August, signaling the property market is recovering and may help the economy emerge from a recession.

  • Sun Hung Kai to sell China land

    7 September 2009

    Sun Hung Kai Properties will sell land in China’s suburbs and smaller urban areas to focus on the centers of major cities, Oriental Daily reported, citing unidentified people.

  • A third of Aussies at default risk

    7 September 2009

    A third of Australia -- including battlers' suburbs and some of the wealthiest urban areas -- has entered the danger zone for financial distress, despite signs that economic conditions are improving.

  • Investors eye Prestige

    7 September 2009

    HDFC Property Ventures and Temasek are in talks to invest about $130m in the Bangalore-headquartered Prestige Group, as cash-hungry real estate companies continue to tap private equity funds to meet critical funding needs.

  • Savills shuffles Asia Pacific management

    4 September 2009

    Savills has promoted Raymond Lee as chief executive office for Hong Kong and Macao.

  • Country Garden bonds net US$300m

    4 September 2009

    Country Garden Holdings became the first Chinese company to tap the junk-bond market since the outbreak of the financial crisis, raising $300m from a five-year, high-yield bond issue, according to investors and fund managers.

  • 11% wiped off Aussie home investment

    4 September 2009

    Residential property investment plunged by nearly 11% during the 2009 financial year, as the global financial crisis caused listed companies to shelve projects and residential developers blamed government red tape for a lack of new homes built.

  • New cash flowing to Oz REITs

    4 September 2009

    Nearly 60% -- more than $5bn -- of the capital raised by Australian listed property trusts in the last three months came from new offshore and local investors.

  • Indian property companies hike prices 15%

    4 September 2009

    With the gradual return of residential property buyers, especially in key regions like New Delhi National Capital Region and Mumbai, prices in these areas have moved up 10-15%. While some developers have increased prices across their projects, others are doing it on a project-specific basis.

  • China Investment Corporation makes first significant inroad into the UK

    04 September 2009

    The world’s largest sovereign wealth fund, China Investment Corporation (CIC), has made its first significant inroad into the UK by investing in AIM-listed vehicle Songbird as part of a bailout of the heavily indebted majority owner of Canary Wharf Group.

  • Korea prospects for London trophies

    04 September 2009

    $200bn state fund teams up with Rockspring to start $3bn spree as China invests in Songbird

  • MGPA in biggest Hong Kong sale

    04 September 2009

    MGPA has sold 10 floors of 181 Queen’s Road, Central, in Hong Kong for more than HK$1bn, reflecting a 4% yield, to investor Miguel Chang

  • Tiffany & Co announces Singapore opening

    3 September 2009

    Tiffany & Co, the jewellers, has today announced the spring 2010 opening of a store in Singapore’s Marina Bay Sands Shoppes.

  • Parsvnath to Sell $100 Million of Shares, Reduce Debt

    3 September 2009

    Parsvnath Developers Ltd. plans to sell as much as $100 million of shares and a stake in an Indian real estate project as it seeks to trim its debt to a third by March, Chairman Pradeep Jain said in an interview.

  • Mr. & Mrs. Hong Kong’ Triple Property Bet, CLSA Says

    3 September 2009

    Hong Kong people have more than tripled the amount of money they’ve invested in property in the past two years as equity markets crashed and interest rates reached historic lows, CLSA Asia-Pacific Markets said.

  • Chinese developers on hunt for IPOs

    2 September 2009

    Chinese property developers and their Wall Street backers are rushing to raise billions of dollars in initial public offerings, rescuing real-estate investments that just months ago were considered victims of the economic crisis.

  • Trinity ponders legal move over A$1m fee

    2 September 2009

    Troubled property group Trinity is investigating whether it can take legal action over a secret $1 million success fee paid to Queensland lobbyist Ross Daley.

  • Shanghai hit by serviced flats oversupply

    2 September 2009

    Luxury serviced apartment operators in Shanghai are suffering from rising vacancies and falling rents as a result of an abundance of new supply that has come to the market at a time when multinational corporations have frozen expansion.

  • Kowloon leads HK in luxury flats

    2 September 2009

    Kowloon has displaced Hong Kong Island as the housing district with the highest number of top-priced apartment blocks in Hong Kong.

  • Oaktree may merge Japan REIT and target Oz

    2 September 2009

    Oaktree Capital Management, a private-equity fund with about $61bn of assets, is seeking to merge its Japan property trust and buy buildings in Australia as a credit shortage makes distressed investments attractive.

  • Australian Building Approvals Rise 7.7% on Grants

    1 September 2009

    Australian home-building approvals rose in July, adding to signs that government handouts and the lowest borrowing costs in half a century are stoking demand.

  • Sell China Bank, Property Stocks, Morgan Stanley Says

    1 September 2009

    Investors should sell China’s banks and developers traded in Hong Kong as they are “sensitive” to government policy changes, and add holdings of the nation’s telecommunications stocks, Morgan Stanley’s Jerry Lou said.

  • Australian REITS Retreat Home After $16.4 Billion in Losses

    1 September 2009

    Australian property trusts are unloading failed overseas investments from Munich to Michigan after piling up losses equal to almost a third of their market value in the last 12 months.

  • Goodman Group dives to $1.12bn loss

    28 August 2009

    Goodman Group, Australia's largest industrial property trust, posted a large headline loss on property writedowns today, but met market expectations with its underlying profit and made some encouraging outlook statements.

  • McCabe to take 19.9% in Valad

    27 August 2009

    Valad has agreed to restructure its outstanding A$60.7m (£31.2m) payment to Kevin McCabe for the purchase of his Scarborough Group two years ago.

  • GPT Group to start fund manager sale next month

    27 August 2009

    GPT Group will formally start the sale of its fund and asset management business GPT Halverton next month.

  • Wharf core earnings surge 44%

    27 August 2009

    Wharf (Holdings) is starting to see a return on its investment in the mainland property market, posting a 44.3% jump in underlying interim earnings.

  • Kerry Properties down but sales on target

    27 August 2009

    Kerry Properties said its interim net profit dropped 24% but contract sales still reached a HK$5 billion target in the first seven months at higher selling prices.

  • Aussie group to quit Dubai

    27 August 2009

    Australian real estate company Sunland Group is to leave the Dubai market after the completion of its two current projects in the emirate after posting a full-year net loss of $145m.

  • Vanke to raise up to $1.6bn in share offer

    27 August 2009

    China Vanke, the nation’s biggest publicly traded property developer, plans to raise as much as 11.2 billion yuan ($1.6bn) selling additional shares to build residential projects across the country.

  • GPT Group losses up on writedowns and Europe

    27 August 2009

    GPT Group, an Australian property trust, said its first-half loss widened after booking writedowns on property assets and a joint venture in Europe.

  • Westfield reports first half loss of A$708m

    26 August 2009

    Westfield Group, the world's largest owner of shopping centres, posted a first half net loss of A$708m (£363m) after suffering an A$2.47bn (£1.3bn) decline in the value of its property portfolio.

  • LaSalle CEO Jeff Jacobson heads to Asia

    26 August 2009

    LaSalle Investment Management CEO Jeff Jacobson will relocate to LaSalle’s Asia headquarters in Singapore from January next year.

  • Westfield rules out share sale

    26 August 2009

    Westfield Group, the world’s largest owner of shopping centres, said property values in the US, UK, Australia and New Zealand markets have reached their low and the company doesn’t need to sell shares to raise capital.

  • Big HK deals top HK$25.7bn

    26 August 2009

    Low interest rates and risk aversion have drawn more investors to the property market despite the low yields it offers because rent rises are failing to match the demand-driven increase in capital values, agents say.

  • Mumbai second costliest city in Asia

    26 August 2009

    Mumbai is the second costliest city in Asia Pacific in terms of prime rental rates. With rent of about S800 per sq m, Mumbai is ahead of the likes of Tokyo ($750 per sq m) and Singapore ($625 per sq m) as per the latest report of real estate consultancy firm Jones Lang LaSalle. This is despite a 40% drop in rentals from its peak values. Delhi comes fourth in the ranking with $725 per sq m.

  • Schroders Economic and Strategic Viewpoint: August 2009

    21 August 2009

    'Better than expected figures for the second quarter combined with evidence of a further improvement in the third have led us to upgrade our growth forecasts for the world economy.'

  • Indian commercial property 'may revive after Diwali'

    25 August 2009

    The commercial property market may witness a revival post-Diwali, says Religare Securities.

  • Mirvac posts $1bn loss

    25 August 2009

    Mirvac Group has swung to a full-year net loss of $1.08bn after writing down the value of property assets.

  • UBS poaches JPMorgan's Oz property team

    25 August 2009

    UBS has moved quickly to replace its real estate investment team by picking up Tim Church and seven colleagues from JPMorgan.

  • China giant in loans deadline race

    25 August 2009

    Guangzhou property giant Evergrande Real Estate is up against the clock to finish its US$1bn-plus initial public offering by 31 October, when the developer could incur punitive loan repayments of more than US$600 million to its pre-offering lenders if it misses the deadline.

  • China passes UK and US as commercial property market

    24 August 2009

    China outpaced the US and the UK combined in commercial property sales in the first half of the year, Real Capital Analytics said.

  • R&F Properties shows 90% profit slump

    21 August 2009

    Gungzhou R&F Properties recorded a 90% slump in first-half profit owing to fewer completions and the write-off of a deposit paid for a site.

  • Forte hikes sales target after huge profit leap

    21 August 2009

    Mainland developer Shanghai Forte Land said it would increase its sales target this year after interim profit soared 696.8% from a year earlier.

  • Macquarie CountryWide Trust in loses $1.4bn

    21 August 2009

    Macquarie CountryWide Trust posted today a full-year net loss of $1.44bn on asset, derivative and joint venture revaluations.

  • Fubon's NT$10bn Taiwan buy

    21 August 2009

    Fubon Life Assurance has bought the Asiaworld Building shopping centre and offices in Taiwan from CMP Group for NT$10bn (£180m)

  • Hines to create $3.5bn global REIT

    20 August 2009

    Hines is creating a new property company with billions to spend around the world.

  • Dubai World considers Malaysia pull-out

    20 August 2009

    Dubai World is reconsidering its involvement in a US$4.5bn (Dh16.52bn) port and property project in Malaysia because of the economic crisis, MMC Corporation, its Malaysian partner in the development, has said.

  • Lend Lease posts loss on write-down

    20 August 2009

    Lend Lease, Australia’s largest property developer, posted a second-half loss after writing down the value of its holdings and said a slow market limited the company’s ability to sell properties.

  • Lodha Group eyes R30bn share sale

    19 August 2009

    Lodha Group may seek to raise as much as 30 billion rupees ($615m) in an initial sale of shares in India by the end of the year, a person familiar with the matter said today.

  • Shanghai moves to double land supply to cool market

    19 August 2009

    Shanghai will more than double the supply of land this year for housing projects to help cool rising real-estate prices, the Shanghai Daily said, citing the city’s mayor Han Zheng.

  • Rising rents shake up HK retail

    19 August 2009

    Falling sales and rising rents are forcing a shake-up of Hong Kong's retail sector as under-performing retailers are forced to shut outlets in prime locations and move to cheaper outlying areas.

  • Mainland investors swoop on Hong Kong

    19 August 2009

    An influx of mainland investors has descended on Hong Kong's retail investment market recently, analysts say.

  • Goodman eyes China expansion

    19 August 2009

    Australian property developer and fund manager Goodman Group aims to build a portfolio of logistics assets on the mainland of up to $700m over the next five years as a junior partner in its new joint venture with the Canada Pension Plan Investment Board.

  • Morgan Stanley sells Shanghai tower to Soho China

    19 August 2009

    Chinese commercial-property developer Soho China Ltd. made its first acquisition outside its home base of Beijing, paying about $360m to a Morgan Stanley real-estate fund for a 52-story office and retail tower on the edge of one of Shanghai's main business districts.

  • DLF sole bidder 350-acre Haryana site

    19 August 2009

    DLF, India’s largest real estate developer, was the sole bidder for the 350-acre land parcel in Gurgaon put up for auction by a Haryana state corporation.

  • Cushman & Wakefield buys Japan asset management firm

    18 August 2009

    Cushman & Wakefield, the world’s largest privately-held real estate services firm, on Monday announced that it has acquired Pacific Investment Corporation, the private fund asset management subsidiary of Japanese real estate fund giant Pacific Holdings Group. With immediate effect, the firm will begin operations as Cushman & Wakefield Asset Management KK.

  • Dexus plunges $1.46bn full-year loss

    18 August 2009

    One of Australia's largest listed office landlords, Dexus Property Group, has swung into a full-year net loss of $1.46bn after writing down the value of its portfolio.

  • Distressed property sales increase across the globe, says RICS

    17 August 2009

    Distressed property sales have increased in more than 75% of countries, according to new research by the RICS.

  • Property takes a $51bn pummelling

    17 August 2009

    Australia's bruised and battered property industry has seen $51 billion wiped off the total worth of its assets under management in a single year as falling property values, sales and corporate collapses have taken their toll.

  • Guangzhou office sold block for HK$867.6m

    17 August 2009

    Guangzhou R&F Properties, which is under pressure from municipal authorities for not completing the purchase of a number of sites, says it has sold an office development in Guangzhou for 765 million yuan (HK$867.6 million) or 25,404 yuan per sq m.

  • Leighton forecast Oz rebound

    14 August 2009

    Leighton Holdings, Australia’s biggest construction company, said profit will rebound from its first decline in five years, driving its shares to a 10-month high in Sydney trading.

  • Indian home loan rates further

    14 August 2009

    The State Bank of India cut its home loan rates by announcing a three-month-long 'SBI My Home Campaign' . In SBI's home loan scheme, interest rate for the first year is 8%, and for the next two years is 8.5% to 9% depending on size of the loan. It is linked with benchmark lending rates.

  • Centro attacked over tenant complaints

    13 August 2009

    Centro has been forced to field questions from its joint venture partners and retailers about its capability as a shopping centre manager after reports that the landlord is refusing to carry out basic repairs.

  • Stockland to sell UK assets as its posts A$1.8bn loss

    12 August 2009

    Australian and UK property company Stockland has said it will exit the UK as market conditions ‘remain difficult’.

  • Top HK builders uprated by JP Morgan

    12 August 2009

    Nine Hong Kong real estate developers had their share-price targets raised at JPMorgan Chase & Co. on 'abundant' liquidity and low interest rates that will prompt an increase in housing prices.

  • Stockland battered by writedowns

    12 August 2009

    Stockland, Australia’s biggest housing developer, reported a full-year loss because of writedowns related to a slump in the value of property assets.

  • HK has poor green record

    12 August 2009

    Hong Kong is lagging the world in enforcing green building codes as arguments continue over whether developers should get incentives to adopt sustainable building practices, or do so out of social and corporate responsibility.

  • Premier Inn to set up 80 hotels in India

    12 August 2009

    United Kingdom's hotel chain Premier Inn is planning to open about 80 hotels in the country in the next 10 years.

  • Westfield raises $1.4bn from Asia

    11 August 2009

    Westfield Group, the world’s biggest shopping mall owner, received commitments of more than $1.4bn for a $1.25bn loan after courting investors in Asia, three people familiar with the situation said.

  • Mainland China surge continues

    11 August 2009

    The Chinese property market continued to heat up last month, with home prices and sales accelerating from the pace recorded in the first half.

  • Chinas property surge fuels bubble fears

    10 August 2009

    China’s property sales surged 60% by value in the first seven months, stoking concern that record lending will fuel asset bubbles in the world’s fastest-growing major economy.

  • New Zealands house prices up for third month

    10 August 2009

    New Zealand house prices rose for the third month in July, signaling the property market is recovering and may help the economy emerge from a recession.

  • Shimao to another invest HK$9bn in Xiamen

    10 August 2009

    Shimao Property Holdings plans to invest an additional eight billion yuan (HK$9.08 billion) to develop a large property complex in Xiamen, betting the closer economic ties across the Taiwan Strait will fuel housing demand.

  • Peninsula targets Mumbai with placement cash

    10 August 2009

    Real estate company Peninsula Land is planning to raise a qualified institutional placement of Rs 500 crore for acquiring land in Mumbai.

  • Former chairman of AIM-listed property company suspected of £430m fraud

    7 August 2009

    A trial started in Guangzhou last week that will decide the fate of $70m of foreign shareholdings in Canton Property Investments, a company that was formerly listed on London’s AIM.

  • Australian office vacancy rates soar 40%

    7 August 2009

    Demand for office space has fallen to its lowest level since the early 1990s recession, pushing the amount of empty offices around the country up by 40% in the six months to July as the global financial crisis reverberates through Australian cities.

  • Swire cuts divi after profit dive

    7 August 2009

    Swire Pacific yesterday cut its interim dividend by a third as profits from Cathay Pacific Airways failed to offset a sharp fall in property earnings, sending net earnings for the company plunging 73.82%.

  • GPT Group to pull out of international markets

    6 August 2009

    Australian based GPT Group is to sell off all its international assets to concentrate only on Australia, it announced today.

  • China Investment Corporation invests in Goodman

    6 August 2009

    China Investment Corporation (CIC) is to become a major investor in Goodman, the Australian listed property trust.

  • China fund pumps capital into Goodman

    6 August 2009

    China's sovereign wealth fund, China Investment Corporation (CIC), will take up a A$500m preference share placement as Greg Goodman moves to rebuild his industrial property trust, Goodman Group with a A$1.8bn capital raising.

  • HK agency jumps on earnings boost

    6 August 2009

    Commercial property agency Midland IC&I's shares soared as much as 21 per cent yesterday after the company said it expected to return to profit in the first half.

  • GPT sells overseas assets

    6 August 2009

    GPT Group, the worst-performing Australian property trust this year, is ditching the overseas investments that contributed to about $3.46bn in writedowns announced this year.

  • Property chief accused in China bank fraud

    6 August 2009

    China’s largest suspected bank fraud is being revealed after the former chairman of an AIM-listed company appeared in a Chinese court last week.

  • China investors rethink over transparency

    5 August 2009

    An overdue reality check about easy gains to be made on property investments on the mainland is under way by international fund managers, according to industry participants.

  • Shanghai Mayor looks to control prices

    5 August 2009

    Shanghai will work to control the real-estate market as housing prices in China’s financial capital are 'too high,' Mayor Han Zheng said.

  • Macquarie CountryWide slides 9%

    5 August 2009

    The first phase of a US portfolio sale by Macquarie CountryWide Trust has netted $US778.5 million ($921.6m) in gross value.

  • India Chamber urges greater property transparency

    5 August 2009

    To bring transparency in the property sector, Associated Chambers of Commerce and Industry of India has suggested that it be made mandatory for real estate developers to open escrow accounts.

  • HK home sales up rebound lifts spirits

    5 August 2009

    Home sales in both the secondary and primary markets continued to grow last week as the strong run in the stock markets strengthened buying confidence and quickened home purchases.

  • S&P raises Chinese developers' outlook

    4 August 2009

    Chinese developers short-term outlook was raised to neutral from negative by Standard & Poor’s on a recovery in the nation’s real estate market.

  • Developers get set for HK listing spree

    4 August 2009

    As many as a dozen mainland property developers, emboldened by a recovery in the nation's property markets, are eager to raise billions of dollars by going public in Hong Kong, even as Beijing warns of a possible bubble in the housing market.

  • Swire Pacific set to boost earnings 22.3%

    4 August 2009

    Swire Pacific is expected to report an increase in interim underlying profit thanks to its aviation business returning to the black and rental income from a retail property project in Beijing.

  • Indian property stocks surge

    4 August 2009

    Real estate stocks jumped and were one of the major factors behind propelling the benchmark Sensex to to its 52-week high level.

  • Puravankara buys 62 acre Bangalore site for 'nominal' sum

    3 August 2009

    Provident Housing, a fully-owned subsidiary of the Bangalore-based Puravankara Group, has bought a 62-acre land parcel in the outskirts of Bangalore. The deal is believed to have been struck for a value of Rs 150 crore.

  • GPT sells tourism assets at 40% discount

    3 August 2009

    GPT Group has sold a number of hotel and tourism assets and its 80% interest in the Hamburg Trust business.

  • Hang Lung may buy more land in China

    3 August 2009

    Hang Lung Properties, Hong Kong’s fifth-biggest developer by market value, may buy more land in China after spending most of its HK$40bn ($5.16bn) target as land costs fall, Chairman Ronnie Chan said.

  • High end leads Australian house price recovery

    3 August 2009

    Recovery in Australian house prices is being led by the upper end of the market, the Australian Financial Review said.

  • China housing 'not in a bubble'

    3 August 2009

    China’s real estate market recovery will be driven by domestic demand and isn’t in a 'bubble,' according to CapitaLand a Singapore developer whose China operations were its only profitable unit last quarter.

  • GPT slashes Babcock & Brown European exposure

    31 July 2009

    GPT Group is exiting the European part of its joint venture with Babcock & Brown by paying a distribution in the form a security.

  • India offers interest subsidy for mid-segment housing

    31 July 2009

    Finance minister Pranab Mukherjee said that the interest rate subsidy for mid-segment housing would be routed to customers through commercial banks and housing companies registered with the National Housing Bank.

  • HDIL hints at Indian property recovery

    30 July 2009

    The first quarter results of real estate major Housing Development and Infrastructure Ltd indicate a recovery in the domestic realty sector. Not only volumes, but also prices are now rising.

  • $3bn property trust rout expected

    30 July 2009

    Up to $10bn has been wiped from the value of unlisted wholesale property trust assets in the year to June.

  • Shui On Land buys out Shanghai partners

    30 July 2009

    Shui On Land said yesterday it had agreed to acquire the remaining 30% in a company that holds the luxury residential development in Shanghai's upmarket Xintiandi area for HK$113.63m.

  • Centro assets value slashed

    29 July 2009

    Some of the managed funds in the Centro Properties Group are in danger of breaching their banking covenants after the shopping centre owner yesterday slashed the value of its Australian and US property portfolio by $2.62bn.

  • India inflation alert over rising deficit

    29 July 2009

    India’s central bank warned yesterday that inflation would rise to 5% by March and told the newly elected government it must rein in public spending in the years ahead.

  • HK price surge triggers bubble alert

    29 July 2009

    A 20% rebound in average property prices in Hong Kong since the beginning of the year has triggered concerns a price bubble may be forming, and similar alarm bells have begun ringing on the mainland, where regulators have started expressing concerns that prices are rising too fast.

  • Indian property sales seen slumping in June quarter

    28 July 2009

    Mid-cap real estate developers are expected to show a slump in sales by half to as much as 90% in the June quarter, as home buyers stay clear of purchases, according to a poll of brokerages by Reuters.

  • Oz Bank warns of housing market bubble risk

    28 July 2009

    Researve Bank governor Glenn Stevens has warned Australia is at risk of a property market bubble, with prices inflated by the low cost of finance and a reduced supply of new housing.

  • Hon Kwok Land expects sales to hit 1b yuan

    28 July 2009

    Hon Kwok Land Investment expects its property contract sales to reach an 11-year high of more than one billion yuan (HK$1.13bn) this year despite credit controls on second-home purchases.

  • AXA REIM agrees Chinese joint venture

    27 July 2009

    Europe’s AXA Real Estate Investment Managers (AXA REIM) has signed an memorandum of understanding with China’s Ping An Trust to co-invest in developing residential projects in China.

  • HK new flats supply lowest in five years

    27 July 2009

    Hong Kong may be in recession, but the limited supply of new flats - now at a five-year low - has helped push up residential property prices in the past few months, and they could go higher if the economy improves, experts say.

  • Six Indian property firms plan $2.5bn raisings

    27 July 2009

    At least six real estate firms plan to mop up more than $2.5bn from the capital markets by December, 18 months after poor response forced Emaar MGF to scrap its Rs 6,500-crore maiden share issue a day after it opened in February last year.

  • Itochu to acquire REIT Nippon Residential

    27 July 2009

    Itochu Corp is seeking to acquire a real estate investment trust under the wing of failed real estate fund operator Pacific Holdings Inc.

  • Macquarie breaks ties with property unit

    24 July 2009

    Macquarie Group, Australia’s biggest investment bank, agreed to sever ties with an affiliate that owns airports from Sydney to Brussels as it unwinds a business model that helped drive 16 years of rising profits.

  • South Korea may act to cool property

    24 July 2009

    South Korea may do more within 'two to three weeks' to cool property-market speculation after gains in house prices, government minister Chung Jong Hwan said.

  • E-House, Sina Rise on property info plan

    24 July 2009

    E-House China Holdings rose the most in a month after the Shanghai-based provider of real estate services and Sina Corp. agreed to combine their real estate information businesses and seek a US listing for the company.

  • Local develop bags Shanghai site for record price

    24 July 2009

    A Shanghai land plot has set a year-to-date high for the property market, as increasingly buoyant prices in the mainland's richest city spur developers to replenish land banks.

  • China watchdog backs home-loan curbs amid bubble fears

    24 July 2009

    The mainland's banking watchdog has reinforced credit control policies on second-home purchases in the latest sign Beijing is worried about the formation of a property market bubble.

  • Aussie listed trusts braced for bloodbath

    24 July 2009

    Als but three large listed property trusts will report heavy losses, totalling about $7.3bn, in the reporting season which will kick off with Australand's result on Monday.

  • India facing shortage of 24.71m homes

    24 July 2009

    There is a shortage of around 24.71 million houses in the country, Government has said. "The total Housing shortage in the country is 24.71 million," Housing and Urban Poverty Alleviation Minister Kumari Selja said here while replying to a query in Lok Sabha.

  • Speymill Macau board ousted

    21 July 2009

    Speymill Macau’s board of directors have been ousted at an extraordinary general meeting today.

  • Realty revival lifts home retail

    21 July 2009

    Better times are gradually returning to the country’s home retail segment, among the categories worst affected by the slowdown.

  • State Construction Seeks Up to $7.3 Billion in IPO

    21 July 2009

    China State Construction Engineering Corp. plans to raise as much as 50.2 billion yuan ($7.3 billion) in the world’s biggest initial public offering since March 2008.

  • Oz REITs write down assets worth $500m

    21 July 2009

    Two listed property trusts yesterday set the scene for the coming reporting season by announcing asset value writedowns totalling almost $500m for the six months to 30 June.

  • Indian foreign investment lock-in rule to change

    20 July 2009

    Hectic lobbying is under way to bring about a small change in the way one interprets a rule on foreign investment in property — a change that could hurt overseas investors but rescue several Indian realtors.

  • Macquarie CountryWide sells US stake for $1.3bn

    20 July 2009

    Macquarie CountryWide Trust has agreed to sell its 75% stake in a US portfolio of 86 properties for $US1.3bn ($1.6bn) to cut debt.

  • China Vanke buys Foshan site for HK$2.44bn

    20 July 2009

    China Vanke, the largest developer on the mainland, has acquired a commercial-residential site in Foshan, Guangdong province, for 2.15 billion yuan (HK$2.44bn) in the most expensive sale in the city in 20 months.

  • China's house prices rises as lending triples

    20 July 2009

    New home prices in 36 medium- and large-sized Chinese cities rose 6.3% in June from a year earlier as bank lending tripled in the first half.

  • CBRE and JLL bank on US

    17 July 2009

    Bank of America is understood to have appointed CB Richard Ellis and Jones Lang LaSalle to advise on its global property portfolio

  • Goodman Euro head is off to Oz

    17 July 2009

    Michael O’Sullivan, CEO of Goodman’s European operation, will return to Australia at the end of the year

  • Redevco retail looks east

    17 July 2009

    Dutch company Redevco has signed a ‘strategic partnership’ with Chinese developer Shui On Land to jointly develop a 100,000 sq m shopping centre in Wuhan City, China

  • Trikona Trinity non-exec trio exit

    17 July 2009

    Three directors of AIM-listed Indian property fund Trikona Trinity Capital resigned this week in light of a new investment policy

  • Port Douglas investors rush to offload units

    16 July 2009

    Up to a third of the 3000 holiday apartments in Port Douglas are for sale, with one unit recently fetching about $177,000 after selling for $366,000 six years ago, according to local agents.

  • Failed New City REIT rejects Lone Star plan

    16 July 2009

    Creditors of New City Residence Investment Corp, Japan’s first failed real estate investment trust, rejected Lone Star Funds’ receivership plan, opening the way for a rival proposal from Daiwa House Industry Co.

  • Prologis lets 645,000 sq ft in Japan

    16 July 2009

    ProLogis has let more than 645,000 sq ft of distribution space currently under construction in Japan.

  • Tough China credit controls trigger market fears

    15 July 2009

    The resumption of credit controls on home loans by Hangzhou banks has sent shockwaves through the mainland property market, igniting fears of a clampdown on the current recovery by the central government.

  • India's DLF to sell more to raise funds

    15 July 2009

    Debt-ridden realty player DLF said today it will sell more land and wind power business this fiscal to raise Rs 1,900 crore and lowered the sales figure for flats.

  • Millions cut from trust property values

    14 July 2009

    Two Commonwealth Bank-managed property trusts have shaved more than $500m off the value of their real estate assets and are bracing for further price declines.

  • Hong Kong mortgage rates 'close to bottom'

    14 July 2009

    Hong Kong’s mortgage rates, at the lowest in at least 19 years, are getting close to the bottom and can rise 'quickly,' said Peter Wong, head of the local unit of HSBC Holdings Plc, the city’s biggest bank by deposits.

  • Japan mortgage-backed securities defaults at all time high

    14 July 2009

    Default rates on loans underlying Japanese commercial mortgage-backed securities rose to an “unprecedented high” of 53 percent in the first half, Fitch Ratings said.

  • Omaxe firms to build Allahabad township

    13 July 2009

    Construction firm Omaxe on Monday said its subsidiary has entered into an agreement with Allahabad Development Authority for the development of a township in Allahabad.

  • Auctions hint at Oz recovery

    13 July 2009

    The property market continued to show signs of recovery at the weekend, with comparatively healthy auction clearance rates and turnover.

  • China home prices on the up as investment increases

    13 July 2009

    The mainland property market showed a faster pace of recovery last month with average annual prices in major cities rising for the first time in seven months, while investment in real estate expanded 9.9% in the first half.

  • Real estate giant IREO to invest $500m in India

    10 July 2009

    Real estate giant IREO will pump in $500m in various infrastructure projects in India over a period of seven years, the company said Thursday.

  • CIC eyes Goodman

    10 July 2009

    Speculation intensified yesterday that sovereign wealth fund China Investment Corporation would take a stake in property group Goodman Group before the end of the month.

  • Shui On Land and Redevco in Wuhan venture

    10 July 2009

    Shui On Land has formed a strategic partnership with a Dutch property giant by selling a 50% stake in a proposed shopping centre in Wuhan for 750 million yuan (HK$850.8m) in an effort to speed up the project's development.

  • Chinese property prices, investment perk up

    10 July 2009

    Mainland China property prices rose from year-earlier levels in June for the first time in seven months, providing further evidence of a sustained improvement in the real estate sector.

  • Tasco sells property

    9 July 2009

    Trans-Asia Shipping Corp Bhd (Tasco), a total logistics solutions provider, will dispose of a property worth RM17.3m to partly finance its acquisition of new office and warehouses.

  • Ho Hup withdraws one of two land disposal proposals

    9 July 2009

    Ho Hup Construction Co Bhd yesterday withdrew one of two land disposal proposals tabled for approval at the company EGM, worried that the involvement of an interested party in that exercise could raise shareholders’ objection.

  • Centre to bring in law to regulate real estate in Delhi

    9 July 2009

    The Central Government on Thursday said that it is considering a model legislation on regulating real estate in Delhi.

  • Real estate giant IREO to invest $500m in India

    9 July 2009

    Global real estate giant IREO will pump in $500m in various infrastructure projects in India over a period of seven years, the company said Thursday.

  • DLF sells land, lines up more deals

    9 July 2009

    DLF has raised around Rs 1,000 crore through sale of land parcels across four cities in the past 4-5 weeks and is on course to close more such deals worth another Rs 500 crore in the coming weeks, two company executives said.

  • Buyers eye Martin Place office tower

    9 July 2009

    Macquarie Group is a step closer to selling a half share in Sydney's No 1 Martin Place office tower with investment giants LaSalle Investment Management and Singapore's sovereign wealth fund, the Government Investment Corporation, running a ruler over the building, industry sources say.

  • Taiwan prices to drop further

    9 July 2009

    Taiwan property prices will continue to fall until the first quarter of next year, a government survey shows.

  • Chinese buyers hunt for bargains overseas

    9 July 2009

    Chinese companies listed overseas are shopping for commercial property in the United States, Britain and Australia, where prices have fallen as much as 50 per cent from peak levels in 2007, according to property consultancy Savills.

  • Beijing offers cash to foreign investors

    9 July 2009

    The race between Beijing and Shanghai to attract international firms to open offices in their central business districts is hotting up and set to intensify with the capital city's offer of cash subsidies to firms investing there.

  • Sensex languishes below 14,000; realty, banks down

    8 July 2009

    Equities continued to remain in deep red owing to sustained selling pressure across the board. European markets had too moved back in the negative terrain.

  • aN.Z. House Prices Rise Amid Call for Cheaper Loans

    6 July 2009

    New Zealand house prices rose for the first time in six quarters, a sign the economy may be starting to recover from the worst recession in more than three decades.

  • Surge in sales

    6 July 2009

    China Vanke Co Ltd, the country's largest property developer by market value, said its property sales climbed 27.5% from a year ago to 30.76bn yuan ($4.50 billion) in the first half year.

  • Leighton in $289m IT project in India

    6 July 2009

    Leighton has teamed with India's Tata Realty and Infrastructure to build the Ramanujan IT Park in Chennai.

  • DLF sells land to raise Rs 1,000 crore, lines up more deals

    6 July 2009

    DLF has raised around Rs 1,000 crore through sale of land parcels across four cities in the past 4-5 weeks and is on course to close more such deals worth another Rs 500 crore in the coming weeks, two company executives said.

  • Henderson's Think Asia Report

    03 July 2009

    The dislocation in global capital markets is now entrenched and widely evident. Hopes that Asia would not be deeply affected by the crisis have faded as the inter dependency between regional economies became clear.

  • Forum Partners hires Citi property shares team

    2 July 2009

    Forum Partners, the indirect real estate investment manager, has hired a team from Citi Alternative Investments to launch a global real estate securities business.

  • Standard Chartered Moves 400 Hong Kong Staff to IFC2

    2 July 2009

    Standard Chartered Plc will move more than 400 employees at its global markets team in Hong Kong to Two International Finance Centre, the city’s second-tallest building, where rents have dropped 17% since September.

  • Property agencies' incomes double

    1 July 2009

    Some of the biggest Hong Kong property brokerages said first-half income more than doubled from the second half last year, thanks to the low interest rate and improved sales.

  • 4b yuan for Beijing site as developers bulk up

    1 July 2009

    A residential site in Beijing's urban area attracted bids from 11 key developers yesterday and was sold for 4.06 billion yuan (HK$4.61 billion), as strong home sales over the past few months had encouraged developers to replenish their land banks.

  • DLF’s plan to buy DE Shaw’s stake in DAL hits roadblock

    1 July 2009

    Plans by the promoters of top real estate company DLF to buy out hedge fund DE Shaw’s investment in family-owned DLF Assets (DAL) could hit a roadblock because of a little known rule in the country’s foreign exchange laws, people familiar with the matter said.

  • Sensex down 130 points

    1 July 2009

    After rising by almost 155 points in early trade, the Bombay Stock Exchange Benchmark Sensex fell to trade over 130 points down at 11.30 hours as investors indulged in liquidating their positions at improved levels.

  • SBI offers two new home loan schemes

    1 July 2009

    SBI has launched two new home loan schemes, SBI Easy Home Loan and SBI Advantage Home Loan, with processing fee for both waived till September 30.

  • PVP Ventures encashes one more realty asset

    30 June 2009

    PVP Ventures, a company founded by serial entrepreneur Prasad V Potluri and listed on the national bourses, has sold its 90- ground prime property at Vadapalani in Chennai to education group, SRM for Rs 140 crore, sources close to the development said.

  • Store Rents Fall in World’s Most-Expensive Shopping Streets

    30 June 2009

    Store rents tumbled in the world’s most expensive locations in the first quarter and will continue to decline through the middle of 2010 as the global recession curbs spending, according to CB Richard Ellis Group Inc.

  • Treibreu buys €64m German portfolio from Creed

    30 June 2009

    Private international property group Treibreu Group has bought a €64m portfolio of properties from collapsed Japanese company Creed Corporation.

  • Sobha private equity talks

    26 June 2009

    Real estate major Sobha Developers is in talks with private equity players such as JP Morgan, Actis and IL&FS for selling stakes in some of its projects to raise much-needed fund for the development.

  • HK Home loan approvals up for sixth month

    26 June 2009

    New home loan approvals in Hong Kong rose 28.4% in May, the sixth consecutive month of growth, as developers stepped up apartment sales and lenders lowered mortgage rates.

  • Chinese Estates to scrap share sale?

    26 June 2009

    Chinese Estates Holdings the Hong Kong developer controlled by billionaire Joseph Lau, canceled a share sale to raise as much as HK$1.7bn, according to three people familiar with the matter.

  • Oz REITS try to offload Japan assets

    25 June 2009

    Up to A$1.5bn worth of Japanese property owned by trusts listed in Australia is for sale.

  • FKP and Goodman seek cash for debt

    25 June 2009

    FKP Property Group yesterday became the latest listed real estate company to tap investors for cash, moving to raise about A$300m -- almost half the money needed to repay the debts it has due in the next two months.

  • Affordable housing a misnomer says financier

    24 June 2009

    Deepak Parekh, chairman of HDFC, the company credited with setting up the housing finance market in India from the scratch, feels that in its present form, affordable housing is a `misnomer'.

  • Mainland China luxury home prices surge

    24 June 2009

    Luxury residential properties across major mainland cities have been widely sought after by both investors and wealthy end-users in the past two months, say property agents.

  • Beijing aims for stable long term growth

    24 June 2009

    The central government has changed tack on measures to stimulate the property market and is now targeting sustainable and stable longer-term growth rather than a short-term boost to demand.

  • China property stocks set to soar say Henderson

    24 June 2009

    China property stocks may extend gains as home prices in the world’s third-largest economy outstrip analyst estimates amid demand for better housing, Henderson Global Investors’ Andrew Mattock said.

  • CBRE Global InSight five

    23 June 2009

    The Commercial Real Estate Market Down-Under (Pacific Region)

  • Realtors raise prices cautiously

    23 June 2009

    Some developers have started pushing apartment prices up after an anxious few months in which they jumped to affordable homes in a bit to shore up demand.

  • Indiabulls to commit over $500m

    23 June 2009

    India's third-largest listed developer, Indiabulls Real Estate, plans to use more than $500m raised from a recent share sale to launch projects at a time when its peers are struggling to raise funds and repay debt.

  • Goodman Group interest fees to jump on rating cut

    23 June 2009

    Goodman Group has had its credit rating cut by one notch, due to high gearing and a weak outlook for its business.

  • Singapore developer holds back on China

    23 June 2009

    CapitaLand Retail said China land remains too expensive for it to make acquisitions and the unit of Southeast Asia’s biggest developer will instead focus on completing its shopping mall projects in the country.

  • DHFL venture capital to raise project funds

    22 June 2009

    DHFL Venture Capital, promoted by the leading private sector housing finance company, today said that it would raise Rs 250 crore in the current fiscal domestically to fund real estate projects in Tier-II and Tier-III cities.

  • Macquarie sells Shanghai tower below cost

    22 June 2009

    A property unit of Australia's biggest bank Macquarie Group has sold a luxury residential project in Shanghai at below cost.

  • Swire Pacific Place office rents by a fifth

    22 June 2009

    Swire Properties recently reduced office rents at Pacific Place 20% from last year's peak when leases came up for renewal, but the company believes Hong Kong's office market has bottomed out, chief executive Martin Cubbon said.

  • DLF to keep core assets as credit improves

    19 June 2009

    India’s largest real estate company DLF has decided against selling core assets — residential, industrial and commercial plots — which it had put on the block.

  • Damac quits Malaysia land deal

    19 June 2009

    Dubai-based developer Damac Properties on Thursday confirmed it would not complete a Malaysia land deal with UEM Land Bhd due to the financial crisis, and would focus on projects already under construction.

  • Philippine developers my be uprated on REIT move

    19 June 2009

    Ayala Land and other Philippine property companies may be upgraded by analysts once the nation’s Congress enacts a law giving tax breaks for real estate investment trusts, the country’s biggest bank by assets said.

  • Japan to set up J-REIT aid fund

    19 June 2009

    Japan will set up a fund worth 'hundreds of billions of yen' within the next few months to aid real estate investment trusts hurt by the global credit crisis, a ruling party lawmaker said yesterday.

  • Perth offices set to plummet as min projects stall

    19 June 2009

    Office prices and rental rates in Perth’s business district will fall as much as 50% by 2013 from last year’s highs as mining projects stall and new blocks are completed, real-estate forecasters and agents said.

  • Deka spends €150m down under

    18 June 2009

    Deka Immobilien has bought two properties in Australia for €150m.

  • KPMG raises $200m from Lehman Chinese assets sale

    18 June 2009

    Over $200m has been raised for creditors of collapsed investment bank Lehman Brothers’ from the sale of some of its Chinese assets, its liquidator KPMG said today.

  • IOF taps market for A$415m

    18 June 2009

    The largest of the ING-managed trusts, ING Office Trust , yesterday joined the capital raising stampede, seeking $415 million to replenish its balance sheet and to give it relief from debt repayment until 2012.

  • Prime Central HK office rents could dip 13% more

    18 June 2009

    Grade A office rents in Central could decline a further 13% in the second half of the year on top of a 27% fall in the first half, taking them back to mid-2006 levels, according to CB Richard Ellis.

  • HK home market defies downturn

    18 June 2009

    Hong Kong home prices have brushed aside the fallout from the global financial crisis and risen about 15% so far this year. Is this the start of another bull run for bricks and mortar? Opinions differ widely.

  • Swire says HK has bottomed out as Time Warner renews

    18 June 2009

    Swire Pacific renewed Time Warner’s lease for space in one of its buildings in Hong Kong at a higher rent than previously, and the city’s office market has bottomed out, a company executive said.

  • Singapore firm seeks S$525m for China spree

    18 June 2009

    Yanlord Land Group, a property developer, is seeking to raise S$525m by selling shares and convertible bonds to fund investments in China.

  • Tokyo property 'set for rebound'

    18 June 2009

    Tokyo’s property market is poised to rebound as easier credit and low prices entice overseas investors back to the Japanese capital, said Kazuo Tanabe, president of Chuo Mitsui Trust Holdings.

  • Mumbai airport puts 200 acres on market

    17 June 2009

    Mumbai International Airport, a joint venture between Hyderabad-based GVK group-led consortium and Airports Authority of India, has decided to sell around 200 acres in the western suburbs of the city.

  • India's resale home market fails to attract buyers

    17 June 2009

    The increase in the demand for housing in the past one month appears to be restricted to new projects. According to industry trackers, resale properties do not have too many takers, at least not in the large cities. In the case of new projects, developers have been offering attractive discounts, while prices in the resale segment have remained high.

  • Goodman refinancing shocks investors

    17 June 2009

    Greg Goodman's job became a lot shakier yesterday -- and a potential $1bn-plus rights issue a lot harder -- after his troubled listed property trust outlined an emergency refinancing package that has left investors outraged and looking for blood.

  • China property 'unlikely to fall further'

    17 June 2009

    China’s property prices are unlikely to fall further as increased money supply and credit expansion inflate asset prices, BNP Paribas said, citing China Real Estate Chamber of Commerce President Nie Meisheng.

  • Biggest Hong Kong REIT raise payout

    17 June 2009

    Link Real Estate Investment Trust, Hong Kong’s biggest property trust, proposed a 13% increase in payout after full-year income surged as it brought shopping-mall rents up to market levels.

  • Hong Kong down but could recover

    17 June 2009

    Hong Kong city-center office prices, down by almost half since Lehman Brothers Holdings Inc.’s collapse, may rise 34% this year, as speculators bet on local economic recovery, CB Richard Ellis said.

  • Unlisted Indian property firms join QIP bandwagon

    15 June 2009

    As listed real estate firms brace to raise about $2bn (Rs 9,600 crore) through qualified institutional placement routes, their unlisted counterparts are not far behind.

  • Tatas to develop 1,000 acres of surplus land

    15 June 2009

    The Tata group is working on a plan to unlock value from unused land belonging to various group companies by developing them through its two realty subsidiaries, Tata Housing and Tata Realty.

  • Primrose Hill, HK, flats being offered at steep discount

    15 June 2009

    Kerry Properties is offering 24 units of Primrose Hill, its residential project in Tsuen Wan, at a discount of more than 15% to its asking price in order to attract buyers.

  • Japanese property firms upgraded

    15 June 2009

    Japan’s real estate industry was raised to 'neutral' from 'underweight' by an analyst at Daiwa Securities Inc., who said the market is expected to bottom out by next March with improvement in credit.

  • Goodman shares jump China investment report

    15 June 2009

    Goodman Group, Australia’s biggest industrial REIT, rose in Sydney trading on reports it is set to announce a 'cornerstone' investor that will help it retire debt.

  • Tokyo office vacancies rise

    12 June 2009

    Tokyo's office vacancy rate rose to a four-year high in May as companies in the capital slashed spending and jobs.

  • Buying frenzy drives Chinese residential sites higher

    12 June 2009

    The recent aggressive land acquisition binge by cash-rich developers has lifted prices for residential sites on the mainland for a fourth straight month, reflecting growing optimism about the housing market.

  • Opportunities on offer in Paris, Madrid, Sydney and London...

    12 June 2009

    However, DTZ ‘Money into Property’ report warns there is ‘no near-term end to market’s misery’

  • Speymill Macau shareholder wants to oust board

    11 June 2009

    Speymill Macau is under attack from a little-known Czech-based activist investor that has begun investing in AIM-listed overseas property funds.

  • Despite shares issues, Indian property still needs sales

    11 June 2009

    India's real estate firms are seeking share sales to settle debt and meet working capital needs as valuations improve, but the funds won't be enough to salvage them if sales don't pick up, say industry watchers.

  • Westfield offers to foot WTC retail bill

    11 June 2009

    Shopping centre giant Westfield Group is offering to foot the $US1.3bn (A$1.6bn) bill to build a retail complex at the World Trade Centre site in a bid to break an impasse and seize a bigger role in the site's redevelopment.

  • Guangzhou snaps up last resi site in centre

    11 June 2009

    Guangzhou Investment, the property arm of the city government, yesterday acquired the last residential site in the core business district for 15,324 yuan (HK$17,382) per square metre, 358% higher than the previous site in the area sold for in 2005.

  • Recovery hopes as China property prices falls slow

    11 June 2009

    The mainland property market has shown more signs of recovery, as the decline in average prices in major cities narrowed further last month, while investment in real estate rose 6.8% in the first five months from a year earlier.

  • Japan's recession 'easing'

    10 June 2009

    Japan's deepest postwar recession is easing, the government's broadest measure of economic health indicated Tuesday.

  • US Fed subpoenas Lend Lease on overbilling

    10 June 2009

    Bovis Lend Lease yesterday confirmed it had received subpoenas from the US Federal Attorney and New York District Attorney regarding allegations of overbilling on the $US700m (A$882m) September 11 Memorial and Museum and other large New York projects.

  • Australand in A$300m housing jv

    10 June 2009

    Australand has entered a joint venture with privately owned St Hilliers to build $300m worth of public housing in Victoria.

  • Investor interest drives HK up

    10 June 2009

    Investor interest in Hong Kong properties has surged in recent weeks, driving prices sharply higher in all sectors despite lingering uncertainty about the pace of economic recovery.

  • Starwood targets HK and China

    10 June 2009

    Starwood Capital Group, headed by hotel king Barry Sternlicht, founder of the Starwood Hotels empire and the W Hotels, plans to expand its reach to the mainland and Hong Kong after raising a war chest of US$2bn.

  • Australia's home loan approvals rise

    10 June 2009

    Australian home-loan approvals rose in April for a seventh month as the lowest borrowing costs in half a century and government cash handouts bolstered demand among first-time buyers.

  • China property sales and investment surge

    10 June 2009

    China’s property sales surged and investment accelerated, adding to signs that growth in the world’s third-largest economy is recovering.

  • India's Orbit Corporation to raise capital

    9 June 2009

    Real estate firm Orbit Corporation said it will Rs 500 crore through a private placement of shares to qualified institutions investors.

  • Shimao snaps up Xiamen site for 3.02bn yaun

    9 June 2009

    Shimao Property Holdings paid 3.02 billion yuan (HK$3.41bn) for a residential site in Xiamen, the highest plot price among the eight pieces of land sold at a government auction yesterday.

  • Poly Real Estate May sales hit 4.2bn Yuan

    9 June 2009

    Poly Real Estate Group Co said its property sales in May rose to 4.2bn yuan from 1.9bn yuan a year earlier, according to a filing today to Shanghai’s stock exchange. Sales for the first five months of this year rose 158% to 14.7bn yuan, it said.

  • Australia’s Adina Apartment Hotels to enter UK market

    8 June 2009

    Australian hotel developer Adina Apartment Hotels is firming up plans to enter the UK market and further expand in Germany.

  • Indian realty firms plan to raise funds via share sales

    8 June 2009

    Eight real estate firms including Unitech, Parsvnath and Sobha Developers are looking to raise more than Rs 25,000 crore together through sales of shares, mostly to foreign investors.

  • PwC wants out as Centro places the blame

    8 June 2009

    PricewaterhouseCoopers has asked ASIC for permission to resign as Centro's auditor after the shopping centre owner launched a legal action against it, claiming it was partly to blame for failure to disclose information to investors.

  • China's SPG Land branches out

    8 June 2009

    Small Chinese developer SPG Land (Holdings) has diversified from being a purely residential developer into a builder of projects that include hotels, shopping centres and office blocks in a bid to survive in a highly competitive market.

  • Henderson could raise loan to HK$8bn

    8 June 2009

    Henderson Land Development is likely to boost the size of a syndicated loan it plans to take out by 60% to HK$8bn in the face of strong demand from lenders, two banking sources said.

  • Mumbai sixth most expensive office market

    5 June 2009

    With decline in rentals, Mumbai has become lesser expensive for office space, but remains at the sixth position among the world's costliest office markets, a report has said.

  • China housing recovery 'picking up speed'

    5 June 2009

    E-House (China) Holdings, a Shanghai-based provider of real estate services, is recording 'very strong' property sales after volume doubled in the first quarter, Chief Financial Officer Li-Lan Cheng said.

  • Australian building up on fresh demand

    5 June 2009

    An index measuring Australian building activity rose in May to the highest in a year, adding to signs that interest rates at a half-century low and government grants are spurring demand for new homes.

  • Banks beef up teams to fortify property plans

    05 June 2009

    Bank of America, Barclays, HSBC and RBS reshuffle teams and portfolios

  • JP Morgan’s Zehner to expand Area

    05 June 2009

    Africa chief to join Bill Benjamin at global property fund manager

  • Knight Frank's Australian Cities Offices Reports

    05 June 2009

    A selection of reports covering the impact of the global recession on Sydney, Brisbane Melbourne and Adelaide between March and May this year.

  • Knight Frank's Bangkok office market report: Q1 2009

    05 June 2009

    Quarter 1 2009 has seen the market has shift back in favour of the tenant for the first time since 2002.

  • Brisbane tower is shelved

    4 June 2009

    The Leighton Holdings-backed Devine Property Group has shelved plans to build a A$300m Brisbane office development, triggering a A$7m earnings guidance downgrade to the Queensland-based developer.

  • Mirvac to raise up to $1.1bn

    4 June 2009

    Mirvac Group plans to raise up to $1.1bn through a share sale to cut debt, and write-down asset values by $582m.

  • Nanhui set for boost from Pudong link

    4 June 2009

    Treasure hunting has begun in Shanghai's Nanhui district, south of Pudong, as investors lay bets that last month's announcement of the integration of the two districts will spark new property developments.

  • Tokyo offices now more expensive than London

    3 June 2009

    Tokyo has now surpassed London as the world’s most expensive office market, research from CB Richard Ellis has said.

  • Indian developers told to repay loans before new projects

    3 June 2009

    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.

  • HK buyers target London homes

    3 June 2009

    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.

  • Kowloon station site to bolster district's hub ambitions

    3 June 2009

    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.

  • China developers upbeat for second half

    3 June 2009

    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.

  • Shimao sales break 10bn yuan

    3 June 2009

    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.

  • J-REITs to buy fewer Japan properties this year

    3 June 2009

    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.

  • Rating agency starts grading Indian valuers

    2 June 2009

    Credit rating agency CRISIL has started grading real estate valuers with the very first grading announced for a Mumbai based valuer.

  • HK buyers snap up Shanghai luxury flats

    2 June 2009

    Shui On Land's recent sale of luxury flats in Shanghai's upmarket Xintiandi district has proved popular with Hong Kong buyers, indicating restored property investor confidence in the city earmarked to become the nation's international financial hub.

  • Indiabulls cut to 'hold' by Deutsche

    2 June 2009

    Indiabulls Real Estate, India’s third-biggest developer, was downgraded at Deutsche Bank AG, which cited the gains in the shares, a possible sale of warrants and 'weak demand' for its Mumbai office projects.

  • Westfield to cut London service charges

    2 June 2009

    Westfield will today attempt to end its long-running dispute with retailers over service charges at its new London shopping centre with news that it will cut fees by 7%.

  • Indiabulls writes off retail investment

    1 June 2009

    Indiabulls Real Estate has written off the entire investment in its retail arm, which it took over from the Piramals during the retail boom in December 2007.

  • Sales spark hopes for Aussie housing rebound

    1 June 2009

    Clearance rates in the national property market are back to the boom time of 2007, despite the lack of interest from investors.

  • Sino Land hikes prices as sales boom

    1 June 2009

    Sino Land, the Hong Kong builder controlled by the family of billionaire Ng Teng Fong, will raise prices at its Lake Silver development by as much as 5% tomorrow after selling more than 1,600 apartments since 27 May.

  • Bernerd launches Hong Kong brand with Grosvenor

    1 June 2009

    Tara Bernerd has teamed up with the Grosvenor Estate to design a £15m penthouse in Hong Kong’s Approach Bay.

  • Investors warm to Indian property

    29 May 2009

    After a near 16-month hiatus, strategic investors are once again warming up to the real estate sector. A few foreign funds and local asset management companies have hit the road for raising money to be invested in real estate companies. Interestingly, even high net worth investors are flocking to these funds, say industry watchers.

  • Queensland collapse pulls down construction sector

    29 May 2009

    Queensland's residential building sector has been brought to its knees by rocketing government charges, the credit crisis and a slump in demand from mining towns and holiday hot spots.

  • Philippine rate cut could boost property stocks

    29 May 2009

    Philippine banks and property developers may extend their gains after the central bank cut its interest rate for a fifth time and said it has more room to lower borrowing costs, CLSA Ltd said.

  • CB Richard Ellis Global Market View: Office Occupancy Costs May 2009

    29 May 2009

    The foundation of the global economy has been tested to a degree not seen since the Great Depression. What began as a US housing crisis quickly became a worldwide financial crisis.

  • India's NBCC to sell flats at 30-50% below market

    28 May 2009

    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 offered by commercial developers.

  • Centro accuses PwC

    28 May 2009

    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.

  • Sydney tower rents slip

    28 May 2009

    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.

  • Westfield raises A$891m in bond issue

    28 May 2009

    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.

  • Beijing relaxes terms for developers

    28 May 2009

    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.

  • Speculators drive up HK property shares

    28 May 2009

    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.

  • Japanese REITS market down 65% on year

    27 May 2009

    Investment in securitised products based on property deals plunged 65.4% in fiscal 2008 as the real estate market got crunched by the global financial crisis, the government said Tuesday.

  • Unitech sells hotels to cut debt

    27 May 2009

    Unitech has sold a hotel in Gurgaon for Rs 200 crore and is close to selling another hospitality project by June-end for a similar amount, as part of its exercise to raise funds for reducing debt.

  • Unitech admits affordable housing error

    27 May 2009

    Undeterred by the body blow it received due to the slowdown, Unitech on Friday announced plans to construct 20,000 affordable houses at a cost of Rs 1,700 crore to become India's top realty company within a year.

  • Foreign cash boost HK property and shares

    27 May 2009

    A wave of money flooding into Hong Kong from mainland China and the rest of the world has propelled property and stock prices even as the economy falters.

  • GPT offloads Perth shopping centre

    27 May 2009

    Property investor GPT Group has sold the Floreat Forum shopping centre in Perth's western suburbs to Australasian Property Investments for $100m.

  • China industrial sites eyed for domestic distribution nodes

    27 May 2009

    Demand for industrial property on the mainland is now being driven by foreign investors aiming to serve the domestic market rather than export markets, according to analysts.

  • Shanghai's office markets sees locals to the fore

    27 May 2009

    Shanghai's languishing office leasing market is looking to local companies for a boost as foreign financial institutions remain on the sidelines waiting for clear signs that the global economic downturn is coming to an end.

  • Soho China to issues HK$2.8bn bonds

    27 May 2009

    Soho China the biggest real estate developer in Beijing’s central business district, plans to raise HK$2.8bn ($360m) from a sale of five-year convertible bonds to at least six investors.

  • Mark Baillie steps down from Macquarie

    26 May 2009

    Mark Baillie, chairman of real estate in the northern hemisphere at Macquarie Capital Funds, is to retire from the firm after 14 years.

  • Indian funding confidence shows signs of returning

    26 May 2009

    Things have started to look up real estate developers who for the last few months were reeling under the double whammy of poor buyer demand and low availability of funds.

  • Indian property companies eye QIP route

    26 May 2009

    A clutch of real estate companies are eyeing the qualified institutional placement route to raise funds to finish languishing projects or meet their mounting debt obligations.

  • GPT chief apologises to shareholders

    26 May 2009

    Departing GPT chairman Peter Joseph apologised to shareholders for the property trust's poor performance after being grilled for more than three hours at the company's annual general meeting in Sydney yesterday.

  • NZ property developer expects first half loss

    26 May 2009

    New Zealand property developer CDL Investments' managing director BK Chiu says the company expects to make a loss for the first half of this year.

  • HK secondary market surpasses first quarter

    26 May 2009

    Home sales in Hong Kong's secondary market last month and this month are expected to total at least 18,000 units, a survey says.

  • Hong Kong developers rise on Citigroup note

    26 May 2009

    Hong Kong’s developers rose, led by Sino Land Co. after Citigroup lifted its share-price forecast for the stock.

  • India's largest property firms restructures

    22 May 2009

    DLF, India’s largest realty company, has consolidated all its real estate verticals under two divisions as part of a restructuring exercise aimed at leveraging synergies and imparting greater customer focus.

  • Shanghai units offered to HK buyers at cut price

    22 May 2009

    Shui On Land will release a luxury residential tower in Shanghai's upmarket Xintiandi district at about 8.5% lower than its launch a year ago, to attract Hong Kong buyers.

  • Knight Frank's Global Real Estate Markets Update: 2009

    22 May 2009

    As the global economic slowdown gathered momentum throughout 2008 and into 2009, its negative impact on commercial property markets across the world has gained force.

  • REMAX forays into India

    21 May 2009

    US-based realty brokerage firm REMAX has forayed into India aiming to tap potential offered by middle-class families, with its business in America hit by the ongoing slump in the property market.

  • SA buyers eye Aussie REITS

    21 May 2009

    South African property groups are poised to pour more money into Australia's crippled listed real estate sector.

  • HK secondary transactions up 10.6%

    21 May 2009

    Transactions in the secondary property market continued to climb last week for the second consecutive week as the launch of new mortgages attracted homebuyers.

  • Shimao to spend HK$2.04bn on Shandong project

    21 May 2009

    Shanghai Shimao Commercial Group plans to spend 1.8 billion yuan (HK$2.04bn) co-developing a retail-office-hotel project on its newly acquired site in Qingdao, Shandong.

  • Japanese economy shrinks at record rate

    20 May 2009

    Japan's gross domestic product plunged at a record annual pace of 15.2% in the three months to March as exports collapsed and businesses cut production, the government said Wednesday.

  • Commercial Group Properties plans ‘China Gateway’ conference centre in Kent

    20 May 2009

    Commercial Group Properties has signed a memorandum of understanding with the United Nations Industrial Development Organization (UNIDO) to set up a joint venture to construct, fund and let an exhibition and conference centre at Manston Business Park in Manston, Kent.

  • Spurt in Indian REITs may point to revival

    20 May 2009

    The marked improvement in the performance, in recent months, of REITs, including those set up by Indian developers, is being seen as a pointer to an imminent revival in the property market.

  • Punj Lloyd to exit property

    20 May 2009

    Engineering and construction company Punj Lloyd is exiting real estate business by ending its two-year-old joint venture with NCR-based realty firm Ramprastha group. Ramprastha group will buy Punj Lloyd’s 50% stake in the joint venture company that was supposed to develop 29-acre residential project in Ghaziabad.

  • Beijing landlords offering incentives

    20 May 2009

    Top-end luxury brand retailers have shown caution in expanding on the mainland since the outbreak of the global financial crisis, prompting landlords to offer unprecedented subsidies to retain tenants.

  • Shenzhen site auction to test market

    20 May 2009

    In a major test of developers' confidence in the Shenzhen property market, the municipal government will offer for public sale next month three adjacent lots with a combined value estimated at between 1.8 billion yuan (HK$2.04bn) and 2 billion yuan.

  • Dubai real estate firm to open in New Delhi

    20 May 2009

    Sherwoods Independent Property Consultants is to open an office in New Delhi this summer as investor appetite grows amid a shortfall of four million residential units in the Indian capital.

  • Lend Lease projects selected for Clinton Climate Initiative program

    19 May 2009

    Two projects by Lend Lease have been selected as part of the 16 founding schemes that will form part of the Clinton Climate Initiative program.

  • Plunging Indian prices push up rents

    19 May 2009

    The economic slowdown has hit home sales and sent prices plummeting. The flip side: home rents have shot up.

  • Aussie REITS to raise A$380m

    19 May 2009

    Three listed property trusts yesterday announced plans to tap financial markets for a minimum of A$380m.

  • Indian stocks surge on election result

    19 May 2009

    Indian stocks surged by more than 17% yesterday, forcing the market to close after the country's ruling coalition, led by the Congress Party, won a decisive electoral mandate.

  • Beijing stimulus hits buffers in regions

    19 May 2009

    China’s much vaunted Rmb4,000bn economic stimulus package is being delayed by local governments unable to raise their share of financing, according to a report from the state auditor.

  • JLH sees long-term future in love hotels

    18 May 2009

    A British company aims to raise up to £50m to fund an unprecedented buying spree of Japan's 'love hotels' - exotic hostelries that have, for decades, offered convenience and fantasy to couples at a competitive hourly rate.

  • Oz REITS raised $3.7bn with more needed

    18 May 2009

    Australia's heavily indebted listed property trusts, which raised almost $3.7bn in the past two weeks, are expected to need more capital.

  • CFS launches A$100m bond

    18 May 2009

    CFS Retail Property Trust has launched a minimum $100m increase to its existing 2012 bond, the first wholesale bond offering in the Australian market since 2007.

  • Rents for prestige Aussie property plunge

    18 May 2009

    The number of properties being put up for rent in the nation's wealthiest suburbs has soared, as unemployment fears intensify and struggling mansion owners try to avoid selling during the recession.

  • Oz first-time buyers 'most vulnerable'

    18 May 2009

    People entering the housing market through the first-home buyers grant boost will be most most vulnerable to any falls in home prices over the next 12 months, the Housing Industry of Australia said today.

  • Sino-Ocean hits 60% of annual target

    18 May 2009

    Sino-Ocean Land Holdings, the largest developer in Beijing, has set a record by achieving more than 60 per cent of its sales target of 8 billion yuan (HK$9.08bn) this year.

  • Hang Lung buy signals optimism

    18 May 2009

    Hang Lung Properties paid 415 million yuan (HK$471mn) for a site in Wuxi, its second acquisition in a week, signalling growing developer optimism in the market.

  • Valad plunge as founder quits

    18 May 2009

    Valad Property Group, an Australian real-estate investment trust that carried out more than $2bn of acquisitions in 2007, fell to the lowest in almost two weeks in Sydney trading after its co-founder resigned.

  • Aussie home grants 'risk more defaults'

    15 May 2009

    The extension of time for the enhanced first home grants puts more borrowers at risk of default, as the spectre of double-digit unemployment looms, an academic says.

  • Knight Frank Hong Kong Prime Office monthly report: April

    15 May 2009

    Over the past month, Hong Kong’s office sales market regained some momentum after a downturn that has lasted a year. End-users and long-term investors entered the market again, eyeing good value in prices that have fallen almost 50% from peak levels in 2008. About 120 office sales transactions were registered in March, representing a rise of over 80% from the previous month and the highest level in six months.

  • Knight Frank Indian Office Market Review: Q1 2009

    15 May 2009

    Current financial crisis in the real estate sector has resulted in a number of major players having to stall or offload stakes in ongoing projects. Approximately 183m sq ft of office space, including SEZs, to be developed in the 7 major cities of the country over 2009-11, which is expected to far exceed the incremental demand for office space of about 122m sq ft.

  • Indian exchange buys Mumbai office

    14 May 2009

    In one of the biggest real estate deals since an economic downturn hit the nation, the National Stock Exchange, with its affiliates, is acquiring 56,000 square feet of office space at the 36-acre Kohinoor City project not far from NSE’s headquarters in the Bandra Kurla Complex at Mumbai’s Kurla area, for about Rs 80 crore.

  • Oz REITs in selling spree

    14 May 2009

    GPT Group and Goodman Group have sold European properties worth a collective A$332m as they both move to drive down debt and focus on their core Australian businesses.

  • HK serviced rooms rent falls 28%

    14 May 2009

    Rents of mid-priced serviced apartments of one or two rooms in core business areas have dropped by 28% from the middle of last year to March because of the effects of the global financial crisis.

  • UAE firms eye Pakistan housing schemes

    14 May 2009

    UAE property developers are considering investing in the construction of 6 million low-cost homes in Pakistan as part of a government-backed plan to ease the housing shortage in the country.

  • Indian property shares soar on DLF announcement

    13 May 2009

    Shares of real estate firms on Wednesday surged as much as 5% on the Bombay Stock Exchange, led by heavyweight DLF, on fresh buying across the counter despite the benchmark Sensex slipping into the red.

  • Libeskind wins massive Seoul project

    13 May 2009

    American architect Daniel Libeskind, the master planner for the World Trade Center site, has won a design competition to turn the centre of the South Korean capital into an international business district.

  • Stockland to raise $2bn for balance sheet

    13 May 2009

    Stockland Group today said it planned to raise up to $1.98 billion in share sales to strengthen its balance sheet and fund growth.

  • HK home sales rise 49% as despite swine flu

    13 May 2009

    Buyers shrugged off concerns over the outbreak of the swine flu and turned out in force to drive deal-making in the secondary market up by about 50 per cent last week.

  • China developers in land-buying moves

    13 May 2009

    Developers are back in the market to rebuild mainland land banks run down during a two-year freeze imposed on new investments in response to government austerity measures and declining sentiment.

  • AIG nets $1.2bn for Tokyo building

    12 May 2009

    The transaction, which would be among the biggest divestitures AIG. has made to reimburse the federal government for its huge infusion of aid, is expected to close in the second quarter.

  • Oz first-home buyers rush for loans

    12 May 2009

    Home loans increased more than expected in March, as Australians took advantage of grants and lower interest rates to enter the housing market for the first time.

  • Lend Lease slashes forecast

    12 May 2009

    Lend Lease, Australia’s largest property developer has cut its profit forecast as the global real estate slump has forced it to delay asset sales. The company now expects net operating profit of A$300m (£150m) for the fiscal year ending on June 30, down 25% from a previous forecast of up to A$400m.

  • Mystery of 800 missing DLF staff

    11 May 2009

    DLF, India's largest real estate developer, had headcount down by over 800 during 2008-09 from the year-ago period, but the company did not clarify if these employees were sacked.

  • Indian property sector struggles as funds steer clear

    11 May 2009

    India's troubled property developers are seeing early signs of a rebound, but high debt costs and a lack of private equity funding suggest a sustained recovery is unlikely for some time.

  • Stockland accepts GPT rights offer

    11 May 2009

    GPT stakeholder Stockland has taken up GPT's one-for-one rights offer.

  • Lend Lease cuts profit outlook

    11 May 2009

    Lend Lease cut its full-year net operating profit forecast today by as much as 25 per cent because it would defer asset sales.

  • Hang Lung plans huge retail complex for Dalian

    11 May 2009

    Hang Lung Properties said it would invest 4.5 billion yuan (HK$5.11bn) to develop a 'world-class' shopping centre on a newly acquired commercial site in Dalian, its first land acquisition since February 2007.

  • HK developers see home market bottoming out

    11 May 2009

    Two developers have injected a note of optimism into the city's residential market, saying that it has reached a bottom and is set to turn around.

  • AIG close $1bn Tokyo tower sale

    11 May 2009

    American International Group Inc is close to selling its Tokyo headquarters building to Nippon Life Insurance Co., Japan’s largest life insurer, for about $1bn, a person familiar with the situation said.

  • Australia may be storing up it own sub-prime crisis

    11 May 2009

    Australian Prime Minister Kevin Rudd’s bid to ensure his housing market avoids the global property slump may push a generation of buyers into a debt crisis.

  • DLF could face additional tax liability

    8 May 2009

    India's largest property firm, DLF, said it might have to pay additional tax of up to Rs 400 crore following a special audit of its income for the fiscal 2005-06, by the income-tax authorities.

  • Aussie mortgage holders warned off fixed rate loans

    8 May 2009

    ANZ Banking chief executive Mike Smith has warned mortgage holders not to fix their home loan rates yet, saying interest rates may continue to fall.

  • Knight Frank Greater China Quarterly Report: Q1 2009

    08 May 2009

    In the first quarter of 2009, Mainland China’s residential property sector staged a recovery, with transactions in some cities rebounding to levels not seen in years. However, the recovery did not spill over to the commercial sector, with office markets in major cities remaining sluggish amid fewer transactions and declining rents and prices.

  • Laxey fails to oust Hirco board

    08 May 2009

    Activist investor Laxey Partners has lost its bid to oust members of the board of AIM-listed Indian property company Hirco

  • Tatas moots Mumbai low-cost housing

    7 May 2009

    Tata Group announced a housing project which offers a flat for less than Rs 4 lakh at Boisar, around 100 km from the financial capital of the country.

  • Lend Lease eyes A$60m golf course

    7 May 2009

    At least $160m worth of property is close to changing hands, with Lend Lease believed to be about to snap up a major development site on the Sunshine Coast.

  • Westfield chief calls bottom of market

    7 May 2009

    The world's biggest shopping centre owner yesterday flagged the end of the slump facing the value of its property empire as domestic retail sales surged on the back of the federal government's stimulus package.

  • GPT seeks A$1.7bn in offering

    7 May 2009

    GPT Group, the Australian REIT, is seeking as much as A$1.7bn ($1.28bn) through a capital raising as it tries to speed up its exit from a joint venture with the collapsed Babcock & Brown.

  • Hirco shareholders reject Laxey board shake-up

    6 May 2009

    Activist investor, Laxey Partners has lost its bid to oust members of the board of AIM-listed Hirco.

  • Property exposure dents Westpac

    6 May 2009

    While Westpac missed the initial bad debt shocks from the credit crunch, the lending giant's exposure to commercial property is now starting to hurt its bottom line.

  • HK home sales slow as prices increases and flu hits

    6 May 2009

    Home sales slowed last week as the market paused to digest recent increases in demand and the first case of H1N1 swine flu was confirmed in Hong Kong on Friday.

  • China Vanke test water with sales

    6 May 2009

    China Vanke, the biggest listed developer on the mainland, is testing the market for interest in its two projects in Shenzhen, according to sources.

  • Mainlanders back to bargain hunt in Hong Kong

    6 May 2009

    The decline in luxury home prices in Hong Kong and volatile stock markets in the Greater China region are luring a group of cash-rich mainlanders back to the city to snap up high-end residential properties in recent months, according to property consultants.

  • Indian property giant to review partnership with asset arm

    5 May 2009

    In the wake of the global slowdown Indian real estate giant DLF is reviewing its strategic relationship with group firm DLF Assets Limited. DLF’s Board of Directors have set a committee of independent directors who have further appointed a set of advisors and a recommendation is expected by quarter ended 30 June.

  • Oz house prices fall fastest for 25 years

    5 May 2009

    House prices are falling at their fastest pace in at least a quarter of a century and there are just half the number of job advertisements as a year ago. But a Reserve Bank board meeting in Sydney today is expected to conclude that another interest rate cut is not needed.

  • Chinese developers launch holiday sales blitz

    5 May 2009

    Banking on improved property sales, mainland developers rushed to sell their projects during the May Day holiday week.

  • Hong Kong to hold first land auction for a year

    5 May 2009

    Hong Kong’s government will auction a residential building site for the first time in almost a year today, in a test of developers’ expectations in Asia’s second- most expensive luxury housing market.

  • Taiwan and Chinese developers set for Taipei scheme

    5 May 2009

    Farglory Land Development, Taiwan’s largest developer, is in talks with China’s Country Garden Holdings to jointly develop land in Taipei as the island may be set to allow mainland investment in real estate.

  • BOJ cuts GDP forecast

    1 May 2009

    The Bank of Japan on Thursday lowered its economic growth forecast for the current and 2010 fiscal years and revised its inflation outlook downward amid the global recession.

  • Signs of revival in Indian house market

    1 May 2009

    Early signs of deal-making in apartments during the first quarter of 2009 show a possible revival of demand in the real estate sector, say some analysts.

  • Victoria wants end of stamp duty

    1 May 2009

    The states would scrap all stamp duties in exchange for a $20bn a year share of income tax revenue under a radical revamp of fiscal relations put to the Rudd Government's tax review.

  • Japanese bank calls in Galileo loan

    1 May 2009

    The Japanese lender to Australia's pioneer Japanese property trust yesterday pulled back Y800 million ($11.1m) in cash.

  • Australian bubble 'set to burst'

    1 May 2009

    First home buyers are leaping aboard a sinking ship, with house prices set to fall about 20% in the next two years, an Australian National University economist says.

  • Brisbane house prices continue fall

    1 May 2009

    House prices in Brisbane have dropped half a per cent in the March quarter, the fourth consecutive fall in value, steeper than the national average.

  • Australian bank Macquarie reactivates search for City of London HQ

    1 May 2009

    Macquarie Bank has reactivated its search for a City of London HQ this week after putting its office search on hold in August 2007.

  • Man in the news: Jeff Pulsford

    Global May 2009

    When Lehman collapsed last September, Jeff Pulsford was at home, watching the chaos unfold on TV.

  • My Big Move

    Global May 2009

    Peter Wilding left Australia to travel around Asia, before settling in Abu Dhabi as deputy CEO of Capitala. He tells Sean McAllister about the emirate’s property opportunities, surfing, and handing out prizes to Andy Murray

  • People Moves

    Global May 2009

    Global movers this month

  • Tulip to build housing project in Gurgaon

    30 April 2009

    Real estate firm Tulip Infratech will invest Rs 100 crore over the next three years to develop 400 apartments in Gurgaon.

  • Sydney office rents tipped to slide

    30 April 2009

    Sydney's central business district rents will plunge by 7.5% this year and will not recover for at least two years, according to new client research from Jones Lang LaSalle.

  • Westfield reconfirms profit guidance

    30 April 2009

    Shopping centre owner and operator Westfield Group has reconfirmed its earnings and distribution guidance for the full year, saying its Australian business had helped to offset challenging conditions in the UK, US and New Zealand.

  • Oz house price rise bucks trend

    30 April 2009

    The value of Australian homes increased in the first quarter, bucking a global trend downwards, according to a report issued today.

  • HK non-core area rents 'stabiilising'

    30 April 2009

    Grade A office rents in Central remain under pressure as key tenants - mainly from the financial sector - continue to scale down operations.

  • Merrill Lynch to sell three properties for HK$1.6b

    30 April 2009

    Merrill Lynch is planning to quit its investment in three Hong Kong properties.

  • China grade A offices set for massive vacancy

    30 April 2009

    An exodus of tenants from offices in Shanghai and Beijing, combined with supply in the pipeline, could drive vacancy rates as high as 40% in some locations and drag rents down as much as 50 per cent from their peak levels by 2011, analysts are warning.

  • Indian developer to turn luxury scheme into township

    29 April 2009

    Under weakening property market conditions, realty major Unitech has been forced to develop its Rs 15,000 crore worth high-end luxury housing project in Noida as an integrated township, aiming to boost sales.

  • Australian home sales hit 13-month high

    29 April 2009

    New home sales rose to their highest level in 13 months in March, as the first-home buyers grant buoyed demand.

  • Japanese economy to shrink by post-war worst

    28 April 2009

    The government on Monday cut its economic forecast for fiscal 2009 to a post-war-worst contraction of 3.3% from the earlier predicted zero growth as the deepening global slump continues to undermine the economy, and Finance Minister Kaoru Yosano warned that a further downgrade is possible.

  • City Pacific writes off $339m

    28 April 2009

    Embattled financier City Pacific has written off more than a third of the value of its struggling $940 million mortgage fund as it emerges from a two-month trading suspension.

  • Oz private sector 'key to housing delivery'

    28 April 2009

    Private sector involvement is critical to quickly delivering new housing and commercial developments in New South Wales, planning minister Kristina Keneally has said.

  • Strong sales lift Chinese developers

    28 April 2009

    Mainland property developers Shimao Property Holdings and Greentown China Holdings said strong sales had boosted cash flow this year after reporting a sharp fall in profits last year.

  • Singapore developers hammered by falling prces

    27 April 2009

    As property prices in Singapore continue to tumble, one of the country's biggest developers posted disappointing earnings while another said it will raise capital to protect itself against the downturn.

  • Aussie lenders face penalties for bad loans

    27 April 2009

    Mortgage brokers and lenders will face fines or even jail terms if they fail to properly assess if a product is suitable for customers and whether a borrower can repay a loan under tough laws unveiled today.

  • First fall in mainland China land prices for eight years

    27 April 2009

    Land prices on the mainland fell for the first time in eight years in the first quarter, as developers were slow in replenishing land amid the uncertain outlook for the property sector.

  • Hong Kong developers reap HK$5bn

    27 April 2009

    Hong Kong's two largest developers pulled in more than HK$5 billion from property sales last weekend, a move analysts believe will help them build up their war chests in preparation for a land acquisition spree.

  • China market tipped to recover in second half

    24 April 2009

    The mainland property market may recover in the second half of the year as the economy could pick up soon following Beijing's massive stimulus package, a think-tank said yesterday.

  • Knight Frank Greater China Quarterly Report: Q1 2009

    24 April 2009

    In the first quarter of 2009, Mainland China’s residential property sector staged a recovery, with transactions in some cities rebounding to levels not seen in years. However, the recovery did not spill over to the commercial sector, with office markets in major cities remaining sluggish amid fewer transactions and declining rents and prices.

  • ¥725bn trade deficit Japan's first for 28 years

    23 April 2009

    Japan's trade balance plunged into a deficit of ¥725.32bn in the year through March, the first red ink for a fiscal year in 28 years, hurt by earlier rises in commodity prices and slower exports to the United States and other economies, the Finance Ministry has said.

  • Deserted islands hit GPT Group

    23 April 2009

    GPT Group's $200m islands and lodges portfolio is likely to fetch only half its earlier book value, with one outback lodge in Queensland labelled 'unsalable' by analysts.

  • Stockland slashes profit forecast by 69%

    23 April 2009

    Stockland Group cut its earnings guidance for this fiscal year by 69% on write downs to its inventories and UK business.

  • Melbourne office vacancy set to rise

    23 April 2009

    Office vacancy rates in Melbourne could reach double figures in six months, according to a market report.

  • Chinese agents backtracking on job cuts

    22 April 2009

    Mainland property agencies are reversing the sharp cuts they made to outlets and staff numbers last year and have begun expanding their presence to tap into the recent rebound in the property market.

  • HK agents set for windfall

    22 April 2009

    An estimated HK$5bn in revenue generated by the sale of 1,500 new flats in less than 72 hours has thrown a multimillion-dollar commission lifeline to thousands of property agents.

  • Dexus seeks second capital raising

    22 April 2009

    Dexus Property Group, one of Australia's largest office trusts, will seek to raise up to A$750m in a rights issue - its second raising since December.

  • GPT Trust names CEO

    22 April 2009

    GPT Group has named former banker Michael Cameron as its new CEO, effective 1 May.

  • Indian office rentals drop up to 37%

    22 April 2009

    Office rentals declined up to 37% in India during the first three months of the year due to sluggish demand, as business houses held back expansion plans to tide over the economic slowdown.

  • Japan white paper calls for infrastructure investment

    22 April 2009

    A transportation white paper has called for upgrading infrastructure to revitalise regional economies and secure livelihoods as the recession deepens.

  • Japan GDP outlook revised to 3% contraction

    22 April 2009

    In a rare move, Japan plans to slash its initial projection for real gross domestic product to around minus 3 percent for fiscal 2009 in light of the global economic slump, government sources have said.

  • Colonial cuts asset values

    21 April 2009

    Two of Colonial First State's property managers have revalued a raft of commercial property assets due to softer investment yields, lower rental growth and constrained credit markets.

  • Valad sees no reason for share spike

    21 April 2009

    Beleagured real estate group, Valad Property, has told the Stock Exchange it has no idea of the reasons behind the sudden spike in its securities price.

  • India's Unitech to sell to cut debt

    20 April 2009

    Unitech is looking to sell more stock and assets such as hotels and offices to cut its high debt.

  • Moody's downgrades GPT

    20 April 2009

    Moody's Investors Service has downgraded GPT Group, adding $20 million to the debt-laden group's annual interest payments.

  • Administrators blocking Allco rescue claims businessman

    20 April 2009

    Controversial businessman Jim Byrnes claims the administrators behind Allco are thwarting his attempts to gain control of the failed leasing and property empire.

  • Oz home ownership dream 'out of reach'

    20 April 2009

    Half of Victorians and Tasmanians believe the great Australian dream of owning a home is out of reach , a survey has found.

  • Guangdong developers earnings set to drop

    20 April 2009

    Country Garden Holdings is expected to report a decline in net profit for 2008 - a year plagued by falling property sales on the mainland - but analysts have a brighter outlook for this year.

  • DLF seeks exit from special zones

    17 April 2009

    Reeling under a double whammy of slowing industrial expansion and a slowdown in the housing sector, realty major DLF has written to the commerce ministry seeking to surrender five of the nine SEZs allotted to it across the country.

  • India's Unitech soars on placement

    17 April 2009

    Realty firm Unitech on Friday surged as much as 13% on the bourses, amid the company raising $325m (about Rs 1,567.75 crore) on institutional placement basis.

  • Bovis Lend Lease wins A$675m schools jobs

    17 April 2009

    Lend Lease Corporation Ltd's subsidiary Bovis Lend Lease has won two New South Wales education-infrastructure projects worth A$675 million.

  • Cheung Kong fire-sale draws strong response

    17 April 2009

    The steep discounts being offered by Cheung Kong (Holdings) for its residential project in Tin Shui Wai have generated a strong response as the company gambles the tactic will allow it to launch another upcoming project at higher prices.

  • Australand downgrades outlook

    16 April 2009

    Commercial and residential property developer Australand Property Group has downgraded its profit outlook amid a deteriorating property market and rising financing costs.

  • Concern as top HK developers step up pre-sales

    16 April 2009

    Hong Kong's two biggest developers have accelerated pre-sales of at least 2,227 new flats under construction - some at steep price discounts - raising concerns that they expect market conditions to get worse as the projects near completion next year.

  • Raffles Hotel put on market

    16 April 2009

    A byword for colonial grandeur, and a favourite watering hole of such literary luminaries as Somerset Maugham, Joseph Conrad and Rudyard Kipling, Raffles Hotel, home to the Singapore Sling cocktail, has been put up for sale for up to $450m (£300m). Apparently, the hotel's owner, Prince Alwaleed of Saudi Arabia, is feeling the pinch.

  • Laxey steps up battle with Hirco board

    16 April 2009

    Laxey Partners has rebutted criticisms from Hirco, the Indian property investment vehicle, over attempts to vote Hirco’s chairman and other key directors off Laxey’s board.

  • HKR targets 1b yuan from Shanghai scheme

    15 April 2009

    Riding on improved market sentiment, Hong Kong-listed developer HKR International plans to sell its first Shanghai project and reap sales revenue of more than 1 billion yuan (HK$1.13 billion).

  • Grade A office prices in HK Admiralty jump

    15 April 2009

    The average prices of grade A office deals done in Admiralty ended the quarter up 20% from their lows in January, said Desmond Poon Chi-ming, an associate director of Chartersince Realty (International).

  • Huge Perth scheme gets nod

    14 April 2009

    Work can start on the A$2bn redevelopment of a large derelict tract of Perth after the state Government yesterday signed off on the final planning approval for the Northbridge Link project, giving the green light for private-sector investment.

  • Banks 'gambling' on first homes

    14 April 2009

    The rush of first-home buyers is emerging as a bad-debt time bomb for banks, as government cash incentives for new home owners drives about a quarter of all new mortgage applications for banks.

  • Property funds postpone capital plans

    14 April 2009

    Property funds are putting off fresh capital raisings in response to the uncertain outlook for investments in the sector and a decline in distressed assets coming to the market because of easier credit for developers.

  • Hong Kong market gets Easter boost

    14 April 2009

    More than 50 new flats were sold during the Easter holiday, showing the Hong Kong property market is recovering from the global financial crisis, agents said.

  • Chinese property prices forecast to halve

    14 April 2009

    Property prices in China are likely to halve over the next two years, a top government researcher has forecast, in a strong sign that the country’s economic downturn faces further challenges in spite of recent positive data.

  • India property set for further falls

    9 April 2009

    Real estate prices are set to fall the same way they went up over the past few years.

  • GE call for tighter ABIP rules

    9 April 2009

    One of Australia's largest property owners and financiers, General Electric, has called on the Rudd Government to fix a loophole in the proposed Australian Business Investment Partnership -- the so-called Rudd Bank -- legislation that would see the $30 billion taxpayer-funded scheme used for purposes other than commercial property finance.

  • Aussie CBD towers in fire sale across the nation

    9 April 2009

    Two big-ticket office towers have sold, or are in the final stage of negotiations, amid the sea of properties for sale across the nation's CBDs.

  • Top Citic Pacific executives quit

    9 April 2009

    Larry Yung, one of Hong Kong’s most prominent businessmen, resigned as chairman of Citic Pacific on Wednesday, five days after police raided the company’s headquarters as part of an investigation into alleged false statements and fraud at the state-owned conglomerate.

  • Oz home loans worse than expected

    8 April 2009

    Home loans grew less than expected in February, as the grim economic outlook deterred more people from entering the housing market.

  • Secondary market sales rebound

    8 April 2009

    Secondary market sales have rebounded significantly over the last few weeks amid signs that long-term investors are back in the hunt for property assets.

  • Consultants ride China growth

    8 April 2009

    The pace of urbanisation on the mainland and buyer demand for properties built to internationally accepted codes is driving huge demand from developers for the services offered by professional property managers and consultants.

  • Australian cuts rates at lowest in 50 years

    8 April 2009

    Australia’s central bank has cut interest rates to their lowest level in almost half a century as the country’s officials step up their efforts to prevent a deep recession in the commodity-dependent economy.

  • $1bn infrastructure fund for India

    7 April 2009

    In an attempt to boost India's infrastructure, the State Bank of India and Australian financial powerhouse Macquarie Group have floated a $1 billion venture fund dedicated to this sector. The SBI-Macquarie combine has also roped in International Finance Corporation, a World Bank arm, into the fund as one of the investors.

  • Aussie bank passes on less than half of rate cut

    7 April 2009

    The country's largest mortgage lender, the Commonwealth Bank, has ignored pressure to cut its home loan rates by the same as today's Reserve Bank cash rate reduction of 0.25% by dropping its standard variable product by just 0.1%.

  • Macquarie HQ is Oz rescue's first customer

    6 April 2009

    The Rudd Government's plan to rescue the commercial property market could have one of Australia's most prestigious properties as its first customer.

  • Luxury resort investigated over rent and fees

    6 April 2009

    The cash-poor Cypress Lakes Resort in NSW's Hunter Valley has been investigated by the state's Department of Fair Trading over claims the complex withheld rent and charged excessive body corporate fees.

  • Crown in new Vegas move

    6 April 2009

    James Packer's Crown has emerged as a potential white knight for the most expensive, privately funded construction project in US history, a $US8.6bn ($A13.4bn) Las Vegas hotel and casino development known as CityCentre.

  • HK faces 'grave' test

    6 April 2009

    Hong Kong is facing its gravest economic test since the second world war and is prepared to adopt an aggressive mid-year stimulus 'if necessary', according to the territory’s chief executive.

  • Invista moves on Babcock fund

    6 April 2009

    Invista Real Estate Investment Management, the London-listed property fund with £6.3bn of managed assets, sealed a deal over the weekend to expand into Asia.

  • China housing market shows improvement

    3 April 2009

    There are tentative signs of improvement in a key sector of China's economy, as lower prices start to lure buyers back into the battered housing market.

  • HK property deals soar 60% to 8-month peak

    3 April 2009

    Property purchases in Hong Kong last month surged nearly 60% to the highest in eight months, as previously nervous buyers bet the market might be near its trough after a double-digit percentage fall in prices.

  • Macau housing market posts surprise rebound

    3 April 2009

    A surprise rebound in Macau's housing market has kindled hopes for recovery - despite clouds of uncertainty still hanging over the battered property sector.

  • Asian leader CapitaLand ponders taking Australand private

    2 April 2009

    Asian property group CapitaLand is believed to be investigating privatising Australian-listed property group Australand ahead of a debt repayment due in June, sources in Singapore say.

  • Failure to spark A$1.8bn firesale

    2 April 2009

    Record Realty Trust has become the latest Allco Finance-related business to collapse after its secured foreign lender called in a $186m loan, triggering a potential firesale of properties worth up to $1.8bn.

  • Hong Kong offices in doldrums

    2 April 2009

    Hong Kong's grade A office market remained in the doldrums in the first quarter as tenants continued to move to cheaper locations, or scale down space requirements.

  • Kabul sees property prices rise up to 75% in a year

    2 April 2009

    The global financial crisis has created an unlikely property boom in Kabul, where four-bedroom houses now cost up to £250,000. As prices across the world collapse, parts of the Afghan capital have seen values rise by 75% in the past year, according to estate agents there.

  • Swap deal raises Raptis revival hope

    1 April 2009

    The likelihood of the Gold Coast-based Raptis Group rising from the ashes of more than $1bn worth of property losses has been boosted by the approval of a deed of company arrangement.

  • Oz retail landlords learn from British 'lobotomy'

    1 April 2009

    After earning a rapacious reputation during Australia's long boom, retail landlords are slowly coming to their senses, learning from the disaster of the British retail collapse and doing quiet deals with troubled tenants.

  • 'Mark-to-market' rule blamed for profit swings

    1 April 2009

    Wild swings in earnings reported by developers recently have been exaggerated by accounting standards that require firms to mark investment properties to their market value every six months and book changes in the profit and loss accounts rather than on balance sheets.

  • Shanghai ponders raising plot ratio

    1 April 2009

    The Shanghai city government is considering increasing plot ratios for selected urban redevelopment projects to encourage private sector participation to speed up the upgrading of rundown areas.

  • Dubai retailer to expand in India

    31 March 2009

    Dubai-based Landmark Group, which has been in India for about 10 years now, is planning to expand its operations in the country.

  • Aussie stimulus 'boosts housing market'

    31 March 2009

    The Australian government's stimulus package and a reduction in interest rates has given the housing market a modest boost, a new report shows.

  • Oz house market 'to hold up'

    31 March 2009

    Australia's house prices will hold up better than those overseas, despite the slumping economy, the Reserve Bank said, largely because of the quality of the loans underpinning the market.

  • Developer penalised for slow work

    31 March 2009

    The company in charge of redeveloping the former marine police headquarters in Tsim Sha Tsui has been fined for working too slowly, according to the Lands Department. But the department has refused to disclose how much the company had to pay.

  • Carlyle launches new Asia fund

    31 March 2009

    Carlyle Group, the private equity firm, is raising its second Asia real estate fund with a target of $1bn (£700m). More than half of the capital for the fund, which will be called Carlyle Asia Real Estate Partners II, has been committed by its global institutional investors.

  • Indian retail venture starts renegotiating shop rents

    30 March 2009

    In the backdrop of price correction in the real estate market across the country, Nahar Group's retail venture Cotton County Retail is asking mall developers to reduce rentals.

  • ASIC probes Centro investors

    30 March 2009

    A group of Chinese investors claiming a stake of 18% in the troubled Centro group is being investigated by the Australian Securities & Investments Commission.

  • Oz new home sales rise again

    30 March 2009

    Australian new-home sales rose for a second consecutive month in February.

  • Sino-Ocean posts sixfold sales hike

    30 March 2009

    Sino-Ocean Land Holdings, the largest property developer in Beijing, said property sales had increased sixfold year on year to a record 2.3 billion yuan (HK$2.61bn) so far this year.

  • CR Land to acquire 2.8m sq m Shenzhen scheme

    30 March 2009

    China Resources Land, the property arm of a mainland conglomerate, plans to acquire a large residential-commercial redevelopment project in Shenzhen from its parent as early as 2011.

  • Most of Japan's tallest condo sold

    26 March 2009

    Nearly all 465 units in Japan's tallest condominium building, which was just finished Tuesday, have been sold despite the economic downturn, according to the building's developers.

  • Strong growth in Indian small homes

    26 March 2009

    Real estate may be a slump and banks may be licking their past wounds, but the shift to affordable housing – a win-win combination for cash-strapped realtors and first-home seekers, is bearing fruit.

  • Foreign lenders 'scaling back' from Oz commercial property

    26 March 2009

    Up to 22 foreign banks have flagged their intention to either withdraw from or reduce their exposure to commercial property lending in Australia, according to the peak lobbying body for the property industry.

  • Rubicon Europe Trust declares insolvency

    26 March 2009

    The Rubicon Europe Trust has declared insolvency after unveiling a loss of almost A$1bn, bringing a spectacular end to the latest listed trust in the failed Rubicon property behemoth.

  • China boosted as home sales surge

    26 March 2009

    A countrywide surge in sales since the beginning of the year has injected a sense of optimism that the worst is over for the mainland property market and a sustainable rebound is under way.

  • Developers disappointed at Chinese site release

    25 March 2009

    Developers say government sites available for sale on this year's land application list are unlikely to attract enthusiastic bidding and many may not attract interest at all.

  • DLF to open four new malls before Diwali 2009

    25 March 2009

    The country's largest realty firm, DLF, on Tuesday said that it would open four new shopping malls in the Delhi-NCR region before Diwali (mid-October) this year and is expecting a lower rent in its new malls than existing levels.

  • Macquarie sells supermarkets to cut debt

    25 March 2009

    The heavily indebted Macquarie CountryWide Trust yesterday sold five more assets for A$92.6m -- bringing the total asset sale since 2006 to A$1.1bn.

  • GIC buys ProLogis Asian properties

    25 March 2009

    The property division of the Singapore Government said that it had bought the ProLogis warehouse operations in China and Japan for about $1.3bn (£880m). It is also about to complete the $140m purchase of ProLogis Park Misato near Tokyo.

  • China pension fund backs property stocks

    24 March 2009

    The national pension fund has bought heavily into mainland-listed developers in an attempt to boost confidence in the real estate sector as Beijing strives to buoy the economy.

  • China Overseas Land revives $800m mainland real estate fund

    24 March 2009

    China Overseas Land & Investment has revived a plan to launch a real estate fund management unit to raise as much as $800m for investment in the mainland property market.

  • Mitsubishi to cut 2,000 jobs and shut 50 branches

    24 March 2009

    Mitsubishi UFJ Financial Group, Japan’s biggest bank, is cutting 2,000 jobs at its head office and closing 50 branches amid a deepening economic crisis in its home market.

  • Mumbai resi prices fall by up to 40%

    23 March 2009

    Premium residential property prices built by major developers in Mumbai, till now relatively shielded from the recession, have fallen by 25-40%.

  • Indian government okays foreign investment in property firm

    23 March 2009

    The government on Wednesday allowed over Rs 2,000 crore foreign investment in Orange Realty, which will consequently become a foreign-owned Indian company.

  • Shimao raises property sales target 13%

    23 March 2009

    Mainland developer Shimao Property Holdings expects to record sales of 17 billion yuan (HK$19.3bn) this year, up 13% from its previous target, saying it believes the domestic real estate market has bottomed out and buyers are returning to the market for discounted prices.

  • High-rise plunge hits Oz housing starts

    20 March 2009

    Housing starts suffered their biggest fall for nine years in the December quarter, dragged down by a savage 54% fall in the number of high-rise apartments under construction in Queensland.

  • Mirvac slashes dividend by up to 40%

    20 March 2009

    Mirvac said today it will cut its full-year distribution by up to 40% less than a month after reaffirming its guidance.

  • Beijing North chairman expects price bottom in 2010

    20 March 2009

    Beijing North Star chairman He Jiangchun expects the mainland property market to remain depressed until the second half of 2010 as the global financial crisis has yet to bottom out.

  • Henderson core profit dives 63%

    20 March 2009

    Henderson Land Development yesterday reported a 63% plunge in underlying interim profit to HK$1.41bn and unveiled plans to sell or pre-sell as much as 5.2 million square feet of gross floor area in mainland cities this year.

  • Aussie pension funds brace for property losses

    19 March 2009

    Australian pension funds face A$4-5 bn ($2.6-3.3 bn) in losses on unlisted property this year, research firm Chant West said, hurting an industry already reeling from tumbling share prices and lost confidence.

  • Share surge hints at Goodman privatisation

    19 March 2009

    THE unit price of the Goodman Group has leapt by more than 240% in the past week, raising the question of a possible privatisation for Australia's largest industrial property owner.

  • Aussie retailers seek rent cuts

    19 March 2009

    Australian retailers, following the lead of their hard-hit US and British counterparts, are demanding Australia's biggest shopping centre landlords give rent holidays and reduce fees under the threat of closing their stores.

  • Thousands of Oz building jobs at risk

    19 March 2009

    The Master Builders Association says the construction sector is living on borrowed time because bleak economic conditions are slicing order books and many projects are being placed on hold.

  • Kerry targets HK for rise in property sales to HK$5b

    19 March 2009

    Kerry Properties is aiming for a 31.6% increase in property sales to HK$5bn this year from HK$3.8bn last year by selling more projects in Hong Kong and on the mainland.

  • Sino Land earnings drop 57%

    19 March 2009

    Sino Land yesterday expressed confidence that the current gloom in the property market was manageable, as it posted a 12% rise in underlying profit for the six months to December even as net profit dropped.

  • Indian Builders target affordable homes

    18 March 2009

    Indian real-estate companies, which a year ago were peddling luxury to the nation's growing middle class, are now trying to drive sales by pitching 'affordable' housing.

  • HK government tenants slam rent rise

    18 March 2009

    Angry tenants have accused the department responsible for managing government properties of setting above-market rental rates on a building in Pok Fu Lam by raising rents about 50%.

  • Indian office rents likely to fall

    17 March 2009

    India is facing a situation of major real estate oversupply and is likely to witness 'significant falls' in rentals this year, a report has said.

  • Aussie REITs roar back

    17 March 2009

    The beleaguered Australian REIT sector staged a share market recovery today, rising 5%, as investors shrugged off recent bad news and a spate of capital raisings.

  • China firms and IOC to build water-sports centre

    17 March 2009

    China Sports Industry Group, Beijing Vantone Real Estate and the International Olympic Committee will invest in a 5.2 billion yuan (HK$5.9 billion) water-sports development in Hainan province. China Sports will own 46% of the project, while Vantone will take 44%, the companies say.

  • Chinese Estates posts HK$1.49bn loss

    17 March 2009

    Chinese Estates Holdings yesterday reported a net loss of HK$1.49bn for last year, its first deficit since 2002, because of a slump in the unrealised value of its investment properties and a drop in home sales.

  • India headed toward deflation says Goldman Sachs

    16 March 2009

    The Indian economy is headed towards deflation, which could raise unemployment, even as its central bank, the Reserve Bank of India, was expected to cut the cash reserve ratio by some 150 basis points, says Goldman Sachs.

  • Oz house sales crash

    16 March 2009

    House sales have plummeted nationally as middle and high-end owners avoid listing their properties as the financial turmoil continues.

  • China insurers allowed to invest in property

    16 March 2009

    The decision by the National People's Congress Standing Committee to allow mainland insurers to invest in the real estate market will provide fresh funding for cash-strapped developers, experts say.

  • Soho China set to wake from 'winter sleep'

    16 March 2009

    Soho China, a Beijing-based commercial property developer, is ready to pursue acquisitions after a year of inactivity.

  • ECC Group sets up $250m arm to invest in Vietnam and Thailand

    13 March 2009

    Dutch property company ECC Group is setting up a new £250m investment division to expand further into South East Asia through developing two shopping malls in Vietnam and Thailand.

  • Tokyo office vacancies reach 5.6%

    13 March 2009

    Office vacancies in Tokyo's five key wards rose 0.67 point to 5.6% in February, topping the boom-or-bust line of 5% for the first time since July 2005, office broker Miki Shoji Co. said Thursday.

  • Indian developer eases terms to boost mall demand

    13 March 2009

    Luxury realtors in a fix over demand shortage from home buyers and retailers hit by the economic slowdown are tinkering with terms to make their business work.

  • Mumbai 'loses sheen' on high land prices

    13 March 2009

    The vicious circle of supply shortages and high land prices are taking the sheen out of Mumbai as the metropolis, which houses 12m people in slums and degraded apartments, has become the world's most densely populated city, the World Bank said on Thursday.

  • Troubled GPT threatened by $600m option

    13 March 2009

    Troubled listed property trust GPT may have to pay Melbourne's retailing dynasty, the Besen family, up to $600m.

  • ANZ jobs on the move to India

    13 March 2009

    ANZ Bank will dump 500 back-office staff in Australia and shift the jobs to India by the end of the year.

  • Shopping centre helps Champion REIT double income

    13 March 2009

    Champion Real Estate Investment Trust said its distributable income more than doubled last year, as the company benefited from the acquisition of Langham Place.

  • Swire expanding property exposure after profit plunge

    13 March 2009

    Swire Pacific will spend HK$13bn in the next five years to expand its investment property portfolio by 50% after reporting a 77.5% drop in net profit last year.

  • Developers stampede to offload properties

    12 March 2009

    Developers are rushing to offload some of their 16,623 abandoned or deferred apartment and townhouse projects in Brisbane, Melbourne and Sydney to state housing departments as part of the federal Government's $6bn move to fund the purchase of up to 20,000 new dwellings throughout Australia.

  • Aussie government launches $4bn move to protect commercial property

    12 March 2009

    The Australian Government has introduced draft laws in Parliament to set up a $4bn contingency fund with the four major banks to refinance commercial properties if money from foreign lenders dries up.

  • Largest HK developer plunges 94.9%

    12 March 2009

    Sun Hung Kai Properties, Hong Kong's largest developer, reported the worst interim results in 20 years as a severe property downturn sent net profit plunging 94.92%.

  • NZ house sales surge

    11 March 2009

    The New Zealand housing market mounted a strong rebound in February after a bleak January, with sharply lower interest rates helping lift sales from a 16-year low, a report showed.

  • Oz housing shows signs of recovery

    11 March 2009

    Higher levels of lending for housing in December and January show the housing market may be starting on the road to recovery.

  • Smaller developers eyes sales market opportunity

    11 March 2009

    Big players in the Hong Kong office market are electing to lease rather than sell their grade A office space in East Kowloon, and the strategy may present an opportunity for smaller developers looking to sell their office projects.

  • East Kowloon faces office glut

    11 March 2009

    A surge in releases of all grades of new office space in East Kowloon has forced landlords to adopt new strategies to find tenants for the millions of square feet of commercial space coming on stream in the district.

  • India home finance upbeat amid slowdown

    10 March 2009

    Amid a general slowdown in construction and real estate industry and poor credit offtake, the housing finance industry remains bullish about growth hoping to disburse over 10 per cent more loans in 2008-09 as compared with the previous year.

  • Oz REITS hit to new lows

    10 March 2009

    Around $3.5bn evaporated from the listed property trust sector yesterday.

  • Australian home loan levels jump

    10 March 2009

    Australian Finance Group today said the number of loans arranged by the firm rose by 36.8% in February to 7673 loans, valued at $2.67bn.

  • UK hedge fund eyes China real estate

    10 March 2009

    As Hong Kong property prices retreat to reflect falling demand from top-paid earners, a new breed of value investors are being lured to town.

  • China's largest local developer in efficiency drive

    10 March 2009

    China Vanke, the country's largest locally listed property developer, aims to achieve higher unit sales and revenue this year by improving the competitiveness of its products and cutting administrative expenses and operating costs by 20%.

  • Magnate calls bottom of Indian market

    9 March 2009

    Real estate magnate Niranajan Hiranandani does not expect property prices, which have corrected by about 25% over the past year, to decline any further.

  • Troubled Centro reorganises at the top

    9 March 2009

    Centro Properties Group has reshuffled its senior executive team in Australia to lead the company after it successfully renegotiated debt arrangements with its lenders earlier in the year.

  • Rating agency puts GPT on watch list

    9 March 2009

    Moody's Investors Service yesterday placed GPT Group on review for a possible ratings downgrade.

  • Rate cuts boost Oz first-time buyers

    9 March 2009

    Three-quarters of first-home buyers are planning to buy a house as lower interest rates and cheaper dwellings make their dream more affordable, a survey says.

  • Hongkong Land posts first loss since 2003

    9 March 2009

    Hongkong Land Holdings, the biggest landlord in Central, yesterday reported its first annual net loss since 2003 in the wake of slumping property markets in Hong Kong and Singapore.

  • $50,000bn asset fall fear

    9 March 2009

    Falls in the value of financial assets worldwide could have reached more than $50,000bn (£35,000bn), equivalent to a year’s global economic output, the Asian Development Bank will warn today.

  • Indian realtors seek cashflow as debt dries up

    6 March 2009

    After being allowed by the Reserve Bank of India to restructure their loans, slowdown-hit real estate companies are getting their act together to generate revenue that would take care of interest payment on high-cost loans.

  • Emami Realty halts projects to seek funds

    6 March 2009

    Emami Realty has put on hold all projects and would look for financing primarily from banks and private equities once the market situation improves, a company official said.

  • Resort Corp collapses under Aus$300m debt

    6 March 2009

    Another big Queensland property group has collapsed, taking with it Aus$1bn worth of planned residential and tourism development in the state's north.

  • HK home prices and rents show sharpest drop for 10 years

    6 March 2009

    Residential prices and rents, hit by the global financial crisis, recorded their biggest quarter-on-quarter drop in a decade during the last four months of last year, according to the Rating and Valuation Department.

  • Shanghai Forte moves to cut debt and boost capital

    6 March 2009

    Chinese property developer Shanghai Forte Land plans to sell homes worth 5.5bn yuan (HK$6.24 billion) this year and raise 1.9bn yuan from a proposed bond sale to cut debt and bolster its capital base.

  • HSBC to offer mortgages to foreigners in Japan

    5 March 2009

    London-based HSBC Group said Wednesday it will tie up with two Japanese real estate companies to extend mortgage loans to foreign residents so they can buy property in Japan more easily.

  • Indian real estate shares boosted by rate cut

    5 March 2009

    Property stocks on Thursday welcomed the rate cuts by the Reserve Bank and surged by over two per cent on the Bombay Stock Exchange in early morning trade as the move is likely to ease credit flow for developers.

  • Uluru landowners and GPT close in on Ayers Rock deal

    5 March 2009

    A deal between the Uluru's indigenous landowners and GPT Group over the sale of the iconic Ayers Rock Resort is expected to be reached this month.

  • Oz property sector in share price freefall

    5 March 2009

    The listed property sector was hit by a fresh wave of selling yesterday, pushing the unit prices of key stocks Stockland, Goodman Group and GPT to all-time lows and wiping about $2.6billion from the sector.

  • Guangdong stimulus plan lifts property stocks

    5 March 2009

    Guangdong province is instituting a 15-point stimulus package to help its ailing property sector, a move that sharply lifted stocks in the industry yesterday.

  • Japan Post to explain privatisation property sales

    4 March 2009

    Internal Affairs and Communications Minister Kunio Hatoyama said Tuesday he will order Japan Post Holdings Co. to report on all property sales it conducted before privatisation began in October 2007.

  • Indian government focuses on housing as growth booster

    4 March 2009

    The government is looking at various ways to boost demand in the housing sector, especially in the wake of GDP growth rate dropping to 5.3% for the third quarter of the current fiscal, with a serious look at boosting affordable homes that can generate demand.

  • Relocation and expansion to bolster China industrial sector

    4 March 2009

    The industrial property market on the mainland is likely to be supported in the year ahead by relocations aimed at cutting operating costs, and commitments from foreign manufacturers to expand before the current global economic downturn got under way, according to analysts.

  • More pain for HK luxury rents

    4 March 2009

    The fall in rents for luxury residential properties in Hong Kong shows no signs of abating as a sharp decline in leasing demand and abundant supply keep up the pressure on landlords to offer discounts and preferential terms to lure tenants, say property consultants.

  • Buyers threaten to quit Chennai project

    3 March 2009

    A significant section of buyers of an up-market residential project near Chennai being promoted by DLF have locked horns with the builder, saying cut prices or face exit notices.

  • Aussie listed trusts in covenant breach danger

    3 March 2009

    There is growing uncertainty over the future of some listed property trusts this week, with a number due to report now being suspended from official quotation on the Australian Securities Exchange.

  • Default risk climbs for Chinese developers

    3 March 2009

    A number of leading mainland developers may be at risk of defaulting on their debt this year because of liquidity problems amid the deteriorating economy and property market, according to Standard & Poor's.

  • Japanese property trusts face crisis

    3 March 2009

    Pacific Holdings, which manages real estate investment trusts is racing to negotiate a Y46bn ($470m) investment from more than 10 Chinese funds, originally scheduled for last November but yet to be delivered. The company admitted in a press release last month that the injection 'is critical to the continuation of our business'.

  • Indian shoe chain secures rent cuts

    2 March 2009

    Footwear major Bata India has re-negotiated rentals with owners of around 40 stores and achieved up to 30% rent reduction on properties.

  • Australian new homes sales jump

    2 March 2009

    New homes sales in Australia rose 8.3% in January, the latest survey by the Housing Industry Association shows.

  • Oz interest rates set for all-time low

    2 March 2009

    The Reserve Bank of Australia is tipped to cut interest rates to a record-low level in March, as the effects of the global downturn threaten to really hit the domestic economy.

  • India real estate prices fall by up to 40%

    27 February 2009

    Real-estate prices across the country have fallen by 10-40%. And while prices vary depending on location, size, quality, amenities and time of possession, there are clear indications that the earlier price surge created by speculation and high growth has petered down.

  • Lend Lease cuts 2000 jobs

    27 February 2009

    Lend Lease will cut 2000 jobs and sideline about $2bn worth of projects globally to survive the worsening economic conditions after booking an interim after-tax loss of $596.4m.

  • GPT Group posts Aus$3.25bn loss

    27 February 2009

    Property trust GPT Group has posted a full-year net loss of Aus$3.25bn, compared with a profit of Aus$1.18bn a year earlier.

  • Centro reappoints chief

    27 February 2009

    Troubles shopping centres owner and manager Centro Properties Group has extended the tenure of its chief executive by at least another year.

  • Chinese Estates to report first loss for six years

    27 February 2009

    Chinese Estates Holdings expects to report a loss for last year, its first red ink since 2002 amid the downturn in the mainland and Hong Kong property markets.

  • China land auction sales slump over 50%

    27 February 2009

    The amount of land sold at government auctions in 60 major mainland cities plunged 53% last month from a year ago as cash-hungry developers became more cautious and put the brakes on acquisitions.

  • India's boom towns face hard times

    27 February 2009

    Enterprises across India have been battling pressures brought on by cancelled orders and a steep drop in monthly billings. The story is being played out across India.

  • Shopping malls trigger Westfield Aus$2.2bn loss

    27 February 2009

    Westfield, the world’s largest listed shopping centre operator, reported full-year net losses of A$2.2bn (£1bn) yesterday because of the slumping value of its malls.

  • Westfield puts new developments on ice

    26 February 2009

    Westfield, the world's biggest shopping centre owner, is putting on hold all new developments this year in the wake of a A$2.2bn (£1bn) annual loss.

  • Oz property developers post AUS$5.25b losses

    26 February 2009

    Australian property developers Westfield Group, Centro Properties Group and Lend Lease Corp. reported $5.25bn in losses today as the global recession wiped billions off the value of assets and retail sales plunged.

  • Hong Kong most expensive office centre - for now

    26 February 2009

    Hong Kong overtook London as the most expensive place to rent offices last year, but the No 1 position may be fleeting as local landlords brace for a big decline in the market this year.

  • Japan hit export slump for 50 years

    26 February 2009

    Japan's exports fell by nearly half last month, with shipments of cars plummeting by over two thirds, plunging the world's second largest economy ever deeper into recession.

  • Indian property sees mixed effect if duty cuts

    25 February 2009

    The real estate industry is not enthused at the cut in duty on bulk cement from 10% to 8%. However, the cut in service tax rate from 12% to 10% will benefit those who have taken large commercial properties on rent.

  • Australian REITs 'in ruins'

    25 February 2009

    The probability of ruin is absolute - any self-respecting risk theorist will tell you that. Ruin is certain. It's just a matter of time.

  • CountryWide to sell assets after AUS$714m loss

    25 February 2009

    Macquarie CountryWide Trust has booked a $714m half-year net loss and yesterday announced $548m of property sales to try to get out of debt.

  • Goodman makes half-year loss of A$465.9m

    25 February 2009

    Goodman Group swung to a net loss in the first half after more than A$1bn of asset writedowns.

  • Foreign investors target retail

    25 February 2009

    Foreign investment interest in the mainland property market is on the rise, but investors have shifted their focus from development sites to retail property because of the uncertain market outlook, analysts said.

  • HK and Singapore bear brunt of woes

    25 February 2009

    The worsening global financial crisis has hit the Asian property market across the board over the past six months with cities such as Hong Kong and Singapore suffering the sharpest falls in prices.

  • KPMG prepares to sell Lehman’s Asia property assets

    24 February 2009

    KPMG is preparing to sell a $1.26bn (£875m) portfolio of collapsed investment bank Lehman Brothers’ Asian property assets.

  • No relief for rentals as Perth crashes

    24 February 2009

    Perth house prices are in freefall after a fourth consecutive quarterly fall in the median price - something not seen in 25 years - but renters are yet to see any benefit.

  • Oz home building stalled

    24 February 2009

    Lack of finance and weak demand are behind the delays for approved residential construction projects proceeding to commencement, a survey says.

  • Hong Kong IFC owner opposes tower plans

    24 February 2009

    The consortium that owns the International Finance Centre complex in Central Hong Kong has demanded the government abandon plans for two commercial medium-rise developments in front of its property and instead turn the sites into open space.

  • Australian property returns lowest in 15 years

    23 February 2009

    A collapse in capital growth has seen returns in the Australian commercial property sector dive to their lowest level in 15 years.

  • Goodman Group warns on profit and values

    23 February 2009

    Goodman Group has warned the market to expect a drop in operating profit and almost $1.1bn worth of asset write-downs in its interim profit report next week.

  • First-time buyers lead Melbourne auction

    23 February 2009

    First time buyers were the stars of Melbourne's first big auction weekend for 2009, lured by falling interest rates and increased grants.

  • China property in line for stimulus effort

    23 February 2009

    Beijing will issue its tenth industry-specific stimulus plan for the property sector instead of the energy sector, a former vice-chairman of the Standing Committee of the National People's Congress said.

  • HK sellers dig in on stimulus hopes

    23 February 2009

    Sharp differences are emerging between buyers and sellers over the outlook for property in Hong Kong and the mainland, and the resulting big gap between their price expectations has applied the brakes to deals, say analysts.

  • Laxey pushes Hirco for management revamp

    23 February 2009

    Laxey Partners, Colin Kingsnorth's activist investor, has called an emergency meeting of the AIM-listed Indian property developer for a vote on overhauling the board.

  • CBRE Global InSight episode two

    18 February 2009

    "The Impact of the Global Financial Tsunami on Leading Asian Office Occupier Markets"

  • Unitech founders pledge 49.48% of equity

    17 February 2009

    Real estate developer Unitech said on Monday its founders had pledged shares equivalent to 49.48% of the company's equity.

  • India property sector gets no relief from interim budget

    17 February 2009

    India's real estate firms got no relief from the interim budget announced on Monday, as the finance minister referred to previous measures for the sector.

  • GPT in AUS$1.4bn write-down

    17 February 2009

    GPT Group has written down the book value of its assets by $1.4bn, including $700m on its Babcock & Brown joint venture in Europe.

  • Mirvac posts AUS$645.7m loss

    17 February 2009

    Mirvac posted a first-half net loss of more than half a billion dollars due to property revaluations and write-downs on investments.

  • HK surveyors seek ideas on privatising open space

    17 February 2009

    A surveyors group wants the government to draft a set of proposals and put them to owners on how public open space at developments should be privatised.

  • India set to relax foreign direct investment rules

    17 February 2009

    The Indian government could be poised to open the door to foreign direct investment in the country, in a move that could have huge ramifications for the ambitions of companies, including Tesco and Wal-Mart, in the burgeoning Indian economy.

  • Stimulus pressure as Japan hit by worst fall for 35 years

    17 February 2009

    Japan’s government faced pressure for another stimulus package yesterday after plunging exports pushed the country, the world’s second largest economy, into its worst slump in 35 years.

  • Indian property stocks surge on budget emphasis

    16 February 2009

    Shares of realty firms shot up significantly following major emphasis of the interim budget on real estate and hospitality sectors.

  • Investment properties 'to trigger recovery'

    16 February 2009

    A rise in the number of investment properties whose rental returns exceed the cost of the mortgage will trigger a recovery in the housing market.

  • Oz homes most affordable for five years

    16 February 2009

    The Australian dream of owning a home is more affordable now than it has been for five years following lower interest rates and greater government subsidies, a report says.

  • BIG plans for 10bn sq ft Azerbaijan scheme

    13 February 2009

    Danish architects Bjarke Ingals Group (BIG) have revealed plans for a more than 10bn sq ft residential development in Azerbaijan.

  • Unitech reschedules 75% of debt payments

    13 February 2009

    Realty major Unitech on Tuesday said it has rescheduled more than three-fourths of its total debt amounting to Rs 8,000 crore to tackle the slump in the real estate sector and hoped that the company would soon have sufficient liquidity to look at other opportunities.

  • India house prices plunge 30% in 4 months

    13 February 2009

    Prices of houses have come down by up to 30 per cent over the last four months but weak consumer sentiments continue to prevail resulting in subdued demand, says realty consultant Jones Lang LaSalle Meghraj (JLLM).

  • AIG puts Japan base on market

    13 February 2009

    American International Group Inc. has a hidden jewel that it is about to put on the market: its Japanese headquarters overlooking the Imperial Palace here, which sits on some of the most expensive real estate in the world.

  • Challenger Diversified reports AUS$58.6m loss

    13 February 2009

    Challenger Diversified Property Group has booked a net loss of $58.6m for the December half year.

  • Centro slashes asset values

    13 February 2009

    Troubled shopping mall owners Centro Properties and Centro Retail have revised down the value of their portfolios.

  • Home prices slide further in 70 key Chinese cities

    13 February 2009

    Home prices continued to decline across 70 mainland cities last month, but there are signs a series of government stimulus measures may be stabilising the troubled market.

  • Morgan Stanley fires China real estate chief

    13 February 2009

    Morgan Stanley has sacked the China head of its property investment arm for suspected violations of the United States' Foreign Corrupt Practices Act, sources said.

  • Cheap house prices lure Chinese to the US

    13 February 2009

    A growing number of mainlanders are heading to the United States looking not for designer clothes or jewellery, but for a US$1m home in New York City or Los Angeles.

  • Cbus lands 'new standards' Sydney development

    12 February 2009

    Cbus Property has landed one of Australia's biggest developments -- the $700m+ 1 Bligh Street project in the CBD.

  • Shanghai falls set to drag down Hang Lung income

    12 February 2009

    Shanghai's depressed office leasing market may drag down Hang Lung Properties rental income - its major earnings driver for this year and next - given an abundance of new supply and a deteriorating economic outlook, analysts said.

  • Australia senate blocks economy package

    12 February 2009

    The Australian Senate today rejected the government’s proposed $42bn (US$28bn) stimulus package designed to boost the economy in the face of the global financial crisis.

  • Stockland dives on writedowns and earning woes

    11 February 2009

    Stockland posted a first-half net loss of $726.9m after write-downs on property asset values and said it was unlikely to meet its full-year earnings per share forecast.

  • Oz home loan approvals boosted by rate cuts

    11 February 2009

    Home-loan approvals gained in December as consumers warmed to lower interest rates and Government packages aimed at helping people buy houses.

  • Shenzhen hints at property rebound

    11 February 2009

    Shenzhen may become the first mainland city to recover from the nationwide downturn in property prices, with sales volume now into its third consecutive month of a modest rebound.

  • India real estate set for further woes

    10 February 2009

    Falling prices and interest rates are unlikely to woo once-thirsty home buyers now spooked by slim pay hikes and job cuts, and may push cash-strapped realty firms to drop prices further in order to stave off losses.

  • Beijing blaze caused by unlicensed fireworks

    10 February 2009

    A fire that swept through part of Central China Television's hypermodern complex in Beijing was caused by powerful but unapproved fireworks, state media said.

  • HK jumps two places on 'most expensive' table

    10 February 2009

    Hong Kong has overtaken New York and Paris to become the fourth most-expensive city for buying a 120 square metre (1,291 square foot) apartment in the city centre, according to the latest global research.

  • Japan faces 'unimaginable' contraction

    10 February 2009

    Japan’s economy faces an 'unimaginable' contraction, the central bank’s chief economist warned yesterday.

  • M&S owns up to China errors

    10 February 2009

    The chairman of Marks and Spencer admitted yesterday that the group had made several 'basic shopkeeping' mistakes when it launched its troubled first store in China.

  • Japan General files for bankruptcy protection

    9 February 2009

    Condominium developer Japan General Estate Co. has effectively folded with liabilities of about ¥197.55 billion brought on by the global financial turmoil and the deepening slump in the real estate industry.

  • Indian property sector 'under pressure'

    9 February 2009

    The Indian real estate sector is likely to remain under pressure for the next few months due to small capital flow into this segment as lending to developers has not improved considerably among other factors, a report says.

  • Three REITs see AUS$1.7bn slashed from portfolios

    9 February 2009

    The dishevelled listed property trust sector took another hit as three big trusts, Dexus, Macquarie Office Trust and Mirvac, slashed a combined $1.7bn from the value of their property portfolios.

  • Rate cut pushes Sydney property into overdrive

    9 February 2009

    Sydney's property clearance rate soared to a two-year high at the weekend, while savage weather and the bushfire crisis took a heavy toll on the Melbourne market, where sales crashed to record lows.

  • Hang Lung set for 70% dip as sales decline

    9 February 2009

    Hang Lung Properties is expected by analysts to report tomorrow a 70% dive in half-year underlying profit because of tumbling sales.

  • Sovereign wealth fund makes Asian debut

    6 February 2009

    St Martins, the property company of Kuwait’s sovereign wealth fund, has bought a 27-storey residential tower in Tokyo for JPY 13bn (£105m) in its Asian debut.

  • Lend Lease plunges 16% on hedge mistake

    6 February 2009

    Lend Lease shares crashed more than 16% after hedge funds took a wrong bet on a successful $302.5m capital raising.

  • Mirvac shares up on debt deal

    6 February 2009

    Mirvac Group said today it agreed terms for a new unsecured debt facility of $805m, replacing an existing $1.1bn syndicated facility that had been due to expire in June.

  • Call for Beijing to bail out property

    6 February 2009

    Struggling mainland property developers should be allowed to go, hard hat in hand, to Beijing for bailout funds, economists have said.

  • HK negative equity rises

    6 February 2009

    The ability of Hong Kong homeowners to pay their mortgages remains intact despite the slower economy and a big jump in negative equity, bankers say.

  • Zara plans stores in India

    6 February 2009

    Inditex, owner of the Zara fashion chain, yesterday announced plans to break into the Indian market through a joint venture with Tata Group, the country’s largest business conglomerate.

  • At least 50 Aussie office schemes stalled

    5 February 2009

    At least 50 major office projects are believed to have been either indefinitely suspended or cancelled.

  • Australand sets scene for bleak year

    5 February 2009

    Australand, one of Australia's largest diversified property companies, yesterday reported an 83% drop in its full-year net profit and warned of a 25-30% fall in 2009 operating profit.

  • Oz housing stimulus 'is working'

    5 February 2009

    The proportion of mortgages taken out by first time home buyers have doubled in Victoria since the expansion of the first time home owners grant in October, according to a report.

  • Lend Lease shares plunge

    5 February 2009

    Lend Lease Corp shares have lost almost one-fifth of their value after the property giant raised $302.5 million in new capital through an institutional share placement.

  • Real estate drags down Indian shares

    4 February 2009

    Led by DLF, real estate stocks cracked once again on Tuesday and pulled down the BSE sensex from its intra-day high. Although the sensex closed 83 points higher at 9,149, BSE's Realty Index ended 7.6% off with DLF losing a further 13% to close at its all-time low of Rs 133.

  • Lend Lease share issue to raise $302.5m

    4 February 2009

    Lend Lease has said it planned to raise $302.5 million in an institutional placement.

  • Westfield in new profit warning

    4 February 2009

    Westfield Group, the world's biggest shopping centre landlord, has torn up the profit downgrade it made only eight days ago to warn of deteriorating conditions across its retail properties, while also tapping the market for $2.9bn in fresh capital.

  • Eased restrictions 'won't halt market decline' in Beijing

    4 February 2009

    Analysts expect property prices in Beijing to continue falling despite another round of measures by the local government to stimulate demand for housing in the capital city.

  • Citic invests in Shanghai, Dalian

    4 February 2009

    Citic Capital Holdings has identified three investment targets on the mainland for its newly launched US$400m real estate fund.

  • Urbanisation provides green opportunity for China

    4 February 2009

    A wave of urbanisation in China is driving investments in building new urban centres to cater for the migration of rural workers to the country's key cities.

  • DLF aims to raise cash through asset sales

    3 February 2009

    Realty player DLF has said it is lmuing raising over Rs 4,000 crore through sale of 'non strategic' assets -- that could include surplus land and its wind power venture -- and debt, the borrowing of which would be completed by March this year.

  • India loan rates set to fall

    3 February 2009

    If fresh home loan borrowers had reason to celebrate on Saturday when State Bank of India cut its rate to 8%, existing borrowers too can look forward to paying lower EMI very soon.

  • Raptis's empire collapses

    3 February 2009

    The property empire of Gold Coast tycoon Jim Raptis has collapsed for the second time in less than two decades, owing creditors as much as $1bn.

  • Westfield seeks AUS$2.9bn to cut debt

    3 February 2009

    Westfield Group said today it planned to sell $2.9bn in new securities to institutional investors to repay debt.

  • Decision expected on fate of Babcock & Brown

    3 February 2009

    Babcock & Brown is expected to know its fate as early as tomorrow.

  • China property shares slide

    3 February 2009

    Property stocks fell across the board yesterday amid profit taking and concern the depressed economy could cut developers' earnings.

  • Hirco merger scrapped

    3 February 2009

    The AIM-listed Indian property developer scrapped a controversial merger plan and signalled its willingness to pay a dividend, a victory for rebel shareholders. Activist investors still want more detail on the status of preference shares that have an annual payout of 12%.

  • Indian real estate firms 'lack transparency'

    2 February 2009

    With Satyam scam making investors more concerned about corporate governance issues, a global investment banking major has said that the country's top real estate firms, including DLF and Unitech, are found lacking in terms of transparency and key disclosures in their businesses.

  • Indiabulls Real Estate profits plunge more than 96%

    2 February 2009

    ndiabulls Real Estate has reported a 96.25% fall in consolidated net profit at Rs11.32 crore for the quarter ended December 31, 2008.

  • Aussie house prices continue to fall

    2 February 2009

    House prices fell less than expected last quarter, suggesting government efforts to prop up the industry in the face of the global recession are gaining traction.

  • Property scheme victims slam banks

    2 February 2009

    Invstors who lost millions of dollars when a property investment scheme collapsed have lashed out at the big banks for collaborating with the architect of the scheme.

  • Babcock & Brown to wind down as banks seek £1.5bn

    2 February 2009

    Babcock & Brown is expected to become the latest big- name victim of the credit crunch with the start of a two-year winding down process this week.

  • Risk of deflation low says Japan bank chief

    30 January 2009

    Bank of Japan Deputy Gov. Kiyohiko Nishimura indicated Thursday he is not concerned that the recession will trigger a return of sustained price declines.

  • India moves to cancel land deals

    30 January 2009

    The revenue department is considering cancelling all land transactions done by Rajaiah in Ranga Reddy and Nalgonda districts. It may invoke the Ceiling Act to cancel the transactions.

  • Westfield write-down push property to 1986 levels

    30 January 2009

    Westfield's $3bn write-down sent the benchmark property index down to a level last reached in 1986.

  • Victoria house prices drop 10%

    30 January 2009

    House prices in Victoria have fallen almost 10% in a year and the number of sales plunged about 25%, new figures show.

  • Rubicon expects AUS$700m Europe loss

    30 January 2009

    Rubicon Europe Trust Group says its real estate portfolio has lost 13.7% in value and expects to make a net loss of $700m in fiscal year 2008.

  • HK home loan approvals rise

    30 January 2009

    Mortgage approvals in Hong Kong rebounded 22.8% last month, helped by the launch of new projects and an easing of requirements for home loan applicants.

  • Lend Lease warns of further write-downs

    29 January 2009

    Property giant Lend Lease Corporation has warned further write-downs of about $290m after tax are likely on the value of its assets.

  • Westfield slides on further write-down fears

    29 January 2009

    Shares in shopping centre leviathan Westfield Group have slid further amid growing fears its shock downgrade Tuesday was only the start of write-downs in 2009 in the property trust sector.

  • Hong Kong home sales fall sharply in festive period

    29 January 2009

    Home sales during the Lunar New Year holiday nearly came to a standstill even though developers offered 'festival sweeteners' such as lai see packets to lure buyers.

  • Pakistan growth defies downturn

    29 January 2009

    Pakistan’s economy will grow by 3.5 -4% in the year ending June 2009 despite the global downturn, one of the country’s senior financial officials said.

  • Satyam chief traded in land meant for poor

    28 January 2009

    Assigned land in Andhra Pradesh is defined as land given to the landless poor by the government as part of its land reforms exercise. But Satyam Computers’ former chairman Ramalinga Raju - in a patently illegal action - bought more than hundred acres of assigned land in Bahadurpally village in Greater Hyderabad, close to where the company’s global headquarters is located.

  • Commercial property bailout aimed at protecting housing market

    28 January 2009

    The Government's bailout of the commercial property sector is intended to forestall a rout in property values that could spill into the private housing market.

  • Macquarie property holdings under scrutiny

    28 January 2009

    This week's $646 million sale of Macquarie Countrywide's holding in a portfolio of US shopping centres could be a sign of things to come as Macquarie Group - the investment bank parent of the under pressure property fund - braces for at least 18 months of economic pain.

  • Henderson aims for HK$18bn from residential sales

    28 January 2009

    Henderson Land Development aims to raise HK$18 billion from the sale of 1,500 flats this year as it shrugs off gloomy predictions for the property market.

  • Victoria agents slammed for 'hyping up' rental crisis

    27 January 2009

    Property watchers have attacked the real estate industry for 'hyping up' a rental crisis to lure people into buying at the top of the market.

  • Westfield slashes dividend forecast

    27 January 2009

    Westfield, the world's largest shopping centre manager, has been forced to cut its dividend forecast for the 2009 year.

  • Mainland China property sales dip in December

    27 January 2009

    The mainland property market fell more steeply last month, despite recent measures to stimulate demand, a government website said yesterday, citing official figures.

  • India growth set for six-year low

    27 January 2009

    India’s central bank warned yesterday that the country’s economy would grow this fiscal year at its slowest rate since 2003.

  • Beachfront site falls $5.5m in six months

    26 January 2009

    In a sobering sign of the times, a beachfront property on the Gold Coast sold yesterday for $5.5 million less that what was offered for it six months ago.

  • Aussie housing is least affordable

    26 January 2009

    Australia is home to three of the most 'severely unaffordable housing markets' studied by an international group that predicts the housing bubble here is yet to burst.

  • Oz banks back $4bn developers' fund

    26 January 2009

    The main Australian banksr were preparing each to tip $500m of wholesale funds into the new Federal Government-backed vehicle aimed at keeping credit flowing in the commercial property sector as some struggling offshore lenders become reluctant to refinance loans.

  • Shanghai prepares REIT launch to jump-start market

    26 January 2009

    Shanghai, the mainland's financial hub, was set to launch a real estate investment trust this year to boost the slumbering property market, a senior city official said.

  • HK home building lowest since 1997

    26 January 2009

    Construction and completion of private residential units in Hong Kong last year slumped to the lowest since records began in 1997, underscoring the severe impact the global economic decline is having on the property market.

  • Oz property trusts set for tsunami of woes

    23 January 2009

    The next tsunami of bad news to hit the Australian property sector will be property trust collapses and the sacking of more than 65,000 people across the country, more dividend cuts and asset deflation as the knock-on effects of the global financial crisis feed into mining and commercial and residential property.

  • Babcock & Brown shareholders 'to be wiped out'

    23 January 2009

    Babcock & Brown says there would be nothing left for shareholders after its lenders take their cut under a plan the debt-laden investment company is discussing with its bankers.

  • House builder exits Queensland

    23 January 2009

    Melbourne-based residential builder Simonds Homes has announced the immediate closure of its Queensland operation, blaming the worsening economy and a slump in demand.

  • New World eyes US, European property

    23 January 2009

    New World Strategic Investment, the investment arm controlled by the family of Cheng Yu-tung, plans to invest in the property markets of the United States, Europe and Japan with local investment partners.

  • Shun Tak soars on Mandarin Oriental sale

    23 January 2009

    Shares in Stanley Ho Hung-sun's Shun Tak Holdings soared 24.19% yesterday after the company said it would net almost HK$700m by cashing out of the Mandarin Oriental Macau and spend HK$580m on a share buy-back.

  • Hirco sales up

    23 January 2009

    Hirco, the India-focused property group, listed on AIM in London, said that sales and average unit price at two of its township projects continued to rise in the first quarter, despite wider adverse market conditions.

  • CPA raises AUS$200m at 80c a share

    22 January 2009

    Commonwealth Property Office Fund will raise $200m in an equity raising at 80c a share.

  • China growth plunges to a 7-year low

    22 January 2009

    China's economy slowed dramatically at the end of 2008 as the full force of the global crisis hit home, dragging growth to a seven-year low, official data showed on today.

  • Liquidity dries up as foreigners exit Japan

    22 January 2009

    Just two years since real estate prices reversed a 15-year slide, Japan’s property market is again in the throes of a disruptive downturn.

  • Lower debt to protect Asian markets

    22 January 2009

    The Chinese office market, for instance, has all but dried up, having set a new benchmark in May, when Asia Pacific Land completed the largest transaction to date on the mainland by acquiring a Shanghai building from Hong Kong-based Hutchison for Rmb4.4bn.

  • Singapore fears up to 5% contraction

    22 January 2009

    Singapore yesterday warned that its economy was likely to contract by up to 5% this year, marking down its forecast of only three weeks ago.

  • Crunch wipes AUS$7m off mansion's price

    21 January 2009

    A waterfront mansion in Australia's most expensive suburb, Point Piper, has been sold at a $7m discount -- further evidence that the financial crisis is hurting the prestige property market.

  • Abacus Property aims for AUS$211m capital raising

    21 January 2009

    Abacus Property Group has embarked on a $211.4m capital raising and flagged an $83m hit to its interim earnings next month due to property value write-downs and hedging adjustments.

  • China's top-tier cities seen first to recover

    21 January 2009

    Mainland properties that have suffered the sharpest price falls will be the first to rebound once the market begins to recover, according to property analysts.

  • Year of the Ox could see bears

    21 January 2009

    The Year of the Ox, which begins in five days, looks more likely to bring out a bear than a bull for the Hong Kong property market - at least for the first nine months of the year, analysts say.

  • Taipei restriction easing may not lift market

    21 January 2009

    Property analysts believe the impact of the Taiwan government's plans to further relax restrictions on mainlanders buying residential properties in the capital city of Taipei will be limited.

  • Japan cabinet sees only 0.1% growth in 2009

    20 January 2009

    The government adopted an estimate Monday that the economy will record almost zero growth in the fiscal year beginning in April.

  • Aussie builders brace job cuts

    20 January 2009

    Builders are expecting a sharp fall in activity in 2009 with more than 80% forecasting job cuts, Master Builders Australia says.

  • IndiaREIT seeks £103m

    20 January 2009

    The fund manager is trying to raise a further $150 million (£103 million) of private equity for a fund focused on Indian property. The company has hired Savills to raise the money. The fund, called IndiaREIT Offshore Fund II, already raised $150 million in September 2008.

  • Satyam land to be handed to Indian Navy

    19 January 2009

    A 50-acre land, 'allotted' to Satyam Computers for setting up an IT Park at Kapuluppada village near Visakhapatnam, is now being handed over to the Indian Navy.

  • Centro completes debt restructuring

    19 January 2009

    Centro Properties Group, Australia's second-largest shopping mall owner, said Friday that it reached a final agreement with lenders on debt refinancing, which it provisionally announced in December.

  • Freeze on Aussie mortgage funds 'to last year'

    19 January 2009

    THE 250,000 investors with more than $25bn tied up in the frozen mortgage funds sector are unlikely to see their cash until at least next year, with not one fund being unfrozen since the sector was ravaged in October.

  • West Oz Property market in freefall

    19 January 2009

    The West Australian property market is being decimated following the evaporation of the resources boom, with values of $1m+ properties plummeting 20% and the equivalent of more than two years' supply of homes flooding real estate agencies.

  • CFS Property to sell shopping centre

    19 January 2009

    CFS Retail Property Trust will sell the Golden Grove Village Shopping Centre in South Australia for $100m.

  • Aussie exchange seeks on Westfield clarification

    16 January 2009

    Westfield Group was issued with a 'please explain' by the Australian Securities Exchange yesterday after its share price fell to a one-year low.

  • Centro secures reorganised debt

    16 January 2009

    Debt-laden Centro Properties Group has completed a long-term refinancing agreement with its lenders.

  • Year-on-year capital return on Japanese real estate now negative, says IPD

    15 January 2009

    IPD has released its results for Japanese real estate to the end of the third quarter of 2008, which are showing negative year-on-year capital returns for the first time.

  • Goodman picks up Argent's freight baton

    15 January 2009

    Australian group plans to develop Heathrow rail freight site

  • Pressure to extend grant that stemmed Oz housing slide

    15 January 2009

    The Rudd Government is under pressure to extend the temporary boost to its first-home owner's grant as a flood of applications has stemmed the fall in the housing market.

  • Perth rental home vacancy falls

    15 January 2009

    Perth rents might be going up, but homes in the city are getting harder to find, new research shows.

  • DTZ says China home values to recover in 2011

    15 January 2009

    Home prices on the mainland will not recover until 2011 after they have fallen to a reasonable level, according to property consultant DTZ.

  • Macau set for record flat completions amid falling prices

    15 January 2009

    Macau's property bubble is expected to deflate further this year as a record number of flats are completed amid falling prices, weakening sentiment, tightening bank credit and an exodus of expatriates from the city.

  • Colonial refinances $125m debt

    14 January 2009

    Shopping centre owner Colonial First State Retail has refinanced $125m of debt with a local bank for another two years.

  • Aussie Exchange investigates trading in Becton

    14 January 2009

    Increased trading in Melbourne-based Becton Property Group has prompted an Australian Securities Exchange query, the second in six weeks.

  • Oz home loans rise as first-time buyers come back

    14 January 2009

    Home-loan approvals rose more than expected in November as first-home buyers got back into the market, offering a glimmer of hope for a sector whose growth has been stalled by the economic slowdown.

  • Chinese government buying of unsold flats

    14 January 2009

    Provincial governments on the mainland are becoming bulk buyers of private-sector residential units in a bid to support the market by converting unsold stock into public housing units.

  • Financial woes stall China projects

    14 January 2009

    Work on two big mainland property projects ground to a halt before the Lunar New Year break amid market talk of missed payments as developers battled to secure continuing funding to finish the building work.

  • Hirco delays EGM on takeover plan

    13 January 2009

    Hirco, an Aim-listed Indian property company, has delayed an EGM to vote on plans for a reverse takeover following shareholder opposition.

  • Satyam scandal: facilities under threat

    12 January 2009

    Even as the new Satyam board is set to meet for the first time on Monday, eyebrows are being raised in the real estate circles on whether the company would continue to operate so many facilities across Chennai and Hyderabad.

  • Babcock & Brown's to suspend shares

    12 January 2009

    Babcock & Brown Limited is expected to suspend its shares from trading this morning, after bankers continued to mull over a last-ditch proposal to save the stricken investment manager.

  • BOJ launches ¥1.2 trillion emergency bank loans

    9 January 2009

    The Bank of Japan on Thursday launched a ¥1.22 trillion emergency loan program to help financial institutions provide corporate financing amid the global credit crunch.

  • Housing slump fuels Oz interest cut speculation

    9 January 2009

    A sharp fall in the number of homes approved for construction in November has increased the odds for another rate cut next month.

  • Aussies look to property in 2009

    9 January 2009

    Australians are more confident investing in property than in shares during 2009, a survey says.

  • HK homebuyers steer clear of mainland China

    9 January 2009

    Home buying on the mainland by Hong Kong residents dropped significantly last year because of the deteriorating market and the global financial crisis, property agents said.

  • Business park partners raise £350m for fund

    09 January 2009

    L&G and Goodman sell assets into Arlington Business Park Partnership

  • Babcock warns of insolvency

    8 January 2009

    Struggling infrastructure house Babcock & Brown has warned it will become technically insolvent as it prepares to make a series of huge asset write-downs as part of efforts to push through the sale of its aircraft leasing and property businesses to pay down debt.

  • Shock slump in Oz building approvals

    8 January 2009

    New home building approvals dived the most in six years in November as buyers remained on the sidelines in spite of the Government's stimulus package and hefty interest rate cuts. New South Wales bucked the trend.

  • Recession pushes out luxury HK outlets

    8 January 2009

    The recession is changing the tenant mix of Hong Kong's prime street-front office and retail space as restaurants and vendors of luxury goods quit their leases because of falling sales.

  • India rocked by outsourcing group scandal

    8 January 2009

    The head of one of India’s biggest outsourcing groups has confessed to fixing the company’s books in a $1bn (£662m) fraud.

  • Hong Kong property market to slide by 20%

    7 January 2009

    Hong Kong property prices could fall by a fifth in the first half of 2009, warns Credit Suisse.

  • Aussie new home sales slide

    7 January 2009

    New home sales slumped in November, suggesting deep interest rate cuts and a government stimulus may take time to lure buyers back into the market. Queensland reported the biggest dive.

  • China banks delay on new lending rules

    7 January 2009

    Mainland banks have been slow to implement new home lending guidelines issued by the State Council, leaving homebuyers confused about the relief measures that were to have been introduced on 1 January.

  • Serviced apartment rents set to fall further

    7 January 2009

    Rents of serviced apartments are expected to drop further this year due to falling demand as a result of declining global economic growth.

  • HSBC sucked into Hirco row

    7 January 2009

    HSBC has been drawn into a deepening row at Hirco Developments after the bank was accused of taking an excessive fee for advising the AIM-listed property investment vehicle on its controversial restructuring plan. Laxey Partners, the activist investor that is leading a shareholder revolt at Hirco, has made an official complaint to the AIM regulation team at the London Stock Exchange.

  • Watpac rolls over $216m of debt

    6 January 2009

    Property group Watpac has rolled over $216m of debt with its financiers, including the ANZ Bank.

  • Leighton shares sink on asset write down

    6 January 2009

    Shares in Australia's biggest construction company Leighton Holdings Ltd plunged almost 10% after it cut its profit forecast amid asset write downs of $200m.

  • Babcock & Brown submits debt proposal

    6 January 2009

    Babcock and Brown has submitted a proposal to its lenders on repaying a short-term debt facility, the asset manager said today, adding it expected a response next week, slightly later than flagged.

  • Oz conveyancers set for further layoffs

    5 January 2009

    The bottom has fallen out of the previously lucrative conveyancing industry, with a prediction of more retrenchments nationwide this year.

  • No Aussie interest rate meeting expected for January

    5 January 2009

    Borrowers will have to wait until February for more mortgage relief with the central bank unlikely to interrupt their summer break and cut the cash rate on Tuesday, economists say.

  • Shanghai M&S store struggles

    5 January 2009

    Marks & Spencer has admitted sales at its flagship Chinese store have slumped since its grand opening in three months ago.

  • Oz fund manager sells four US assets

    2 January 2009

    Rubicon America Trust said today that it has agreed to sell four US properties to Kaufman & Jacobs for $US175 million to pay debt.

  • Aussie market to for buyers, claims broker

    2 January 2009

    Australians could find 2009 an opportune time to buy property, but they should not expect a swift recovery in housing prices.

  • HK deals to tumble on weak economy

    2 January 2009

    Property sales could tumble in Hong Kong this year as rising unemployment, higher mortgage rates and a bearish stock market sideline buyers.

  • Asset sales offer trust invest hope

    31 December 2008

    Investors in an unlisted property fund might avoid losing their entire investment after the sale of two shopping centres is finalised in coming weeks.

  • Bangalore tops IT space league

    31 December 2008

    The annual year-end report by global real estate consultants Cushman & Wakefield shows that Bangalore witnessed the highest commercial space absorption in the country of 10.4 million sq ft - the highest in the country for the fifth consecutive year. Of that, IT and ITeS companies absorbed 88%, followed by automotive, telecommunications and other sectors.

  • Laxey opposes India fund plan

    31 December 2008

    The second biggest shareholder in Hirco, the Indian property fund, is urging a vote against plans for a reverse takeover announced a week before Christmas.

  • Housing 'can raise India GDP by 1.5%'

    30 December 2008

    While admitting that any attempt to fix a definition for affordable housing for a country as large and diverse as India, using the concept of one-size-fits-all, would be counter-productive, the panel headed by HDFC chairman Deepak Parekh has sought to redefine housing parameters.

  • Macquarie debt woes shake confidence

    30 December 2008

    Debt-stricken Macquarie Office Trust sent shivers down the spines of investors in the listed property trust sector yesterday when it put out an operational update stating that it could only manage to get its banks to extend a $US74.5m ($108m) loan due in two days until March.

  • Subprime lenders to be hit by arrears

    30 December 2008

    Rate cuts may have come too late for home borrowers already behind in repayments, with the rate of arrears across the nation's housing market tipped to rise further as the economy cools.

  • New Territories home sales hit 11-year high

    30 December 2008

    Cheaper flats in the New Territories are defying the slowing housing market, with transaction values surging to an 11-year high.

  • China local governments get more say in real estate

    30 December 2008

    In a move to stabilise falling home prices nationwide, Beijing will give local governments more flexibility and power to support their property markets.

  • HK mortgage approvals slump 37.9%

    30 December 2008

    Approvals for housing loans in Hong Kong fell to a 33-month low last month because of a slump in demand and tighter lending from banks amid the global economic crisis.

  • Coastal towns 2009's Oz property hotspots

    29 December 2008

    Coastal towns from Tully in Queensland to Upper Burnie in Tasmania are tipped to be among next year's property hotspots, as house prices in capital cities experience modest falls and upmarket property languishes under the strain of the financial crisis.

  • Queensland developer in crisis long before disclosure

    29 December 2008

    The Queensland developer FKP Property Group was having serious financial difficulties well before it disclosed them to the sharemarket, a Federal Court has found.

  • Shanghai relaxes terms for second housing loans

    29 December 2008

    Shanghai has issued new measures to make it easier for people to buy their second homes in a bid to help its ailing property market.

  • Chinese government land sales lowest since 2005

    29 December 2008

    The government has recorded the worst land sales performance since 2005 as a result of Hong Kong's faltering economy and weak demand for housing, market watchers said.

  • China house builder's US$6b IPO stalled

    29 December 2008

    The securities regulator will not allow China State Construction Engineering Corp, the country's biggest home builder, to proceed with plans for a large initial public offering in the near future given the weak market conditions, the Shanghai Securities News reported.

  • City boost as HSBC stays put

    29 December 2008

    HSBC, EUROPE’S largest bank by market value, has decided against relocating its headquarters following a review lasting several months, in a rare boost for the battle-weary City of London.

  • ProLogis to sell mainland China operations

    24 December 2008

    ProLogis, one of the world’s largest warehouse owners and developers, will sell its operations in the mainland and its interest in its Japanese property funds for US$1.3bn to raise cash to pay down debt, the company said on Tuesday.

  • JR Tokai plans Nagoya skyscraper

    24 December 2008

    NAGOYA (Kyodo) Central Japan Railway Co. (JR Tokai) is planning to build the tallest skyscraper in the Nagoya area and the third tallest in Japan.

  • GE sells Wizard to Aussie Home Loans

    24 December 2008

    GE Money Australia and New Zealand will sell its Wizard Home Loans brand and franchise network in Australia to Aussie Home Loans for an undisclosed amount.

  • ProLogis to sell China business to reduce debt

    23 December 2008

    US shed giant ProLogis has agreed to sell its China business and its 20% stake in its Japanese funds, to GIC Real Estate, the property investment arm of the Government of Singapore Investment Corporation for $1.3bn (£880m).

  • Hiroshima contractor may have to liquidate

    23 December 2008

    Contractor Urban Corp. has given up efforts at court-mandated rehabilitation and is now looking at liquidation, sources said.

  • Western Australia 'House prices will drop 10%'

    23 December 2008

    WA homeowners should brace for a house price fall of up to 10% as the state bears the brunt of an economic slowdown, one of the country's leading economists has warned.

  • DFS Kowloon outlet to add more shops

    23 December 2008

    Global luxury retailer DFS Hong Kong, which operates duty-free shops, plans to expand its outlet in Tsim Sha Tsui by 40% to cater for strong demand from mainland tourists.

  • Japanese export suffer record fall

    23 December 2008

    Japan has suffered its sharpest fall in exports on record as even previously robust markets hunker down against the shockwaves of the global financial crisis.

  • Commonwealth Property cuts book value by AU$190.7m

    22 December 2008

    Commonwealth Property Office Fund has cut the book value of 15 office properties by $190.7m.

  • Aussie retail and finance hit by job cuts

    22 December 2008

    Two of Australia's main employment sectors — finance and retail — are showing heavy falls in the number of jobs in the three months to the end of November.

  • Cheung Kong set to top HK sales rankings

    22 December 2008

    Cheung Kong (Holdings) is believed to be Hong Kong's top developer in terms of sales this year with about HK$24 billion in revenue, 84% higher than forecasts for Sun Hung Kai Properties, according to analysts and property agents.

  • Goodman fund in £300m asset injection

    19 December 2008

    Investors in £1.5bn business parks fund carry out ‘recapitalisation’

  • Tokyo condo supply set to rise next year

    19 December 2008

    The condominium supply in Tokyo and surrounding areas may rise for the first time in five years in 2009 after dropping to a 16-year low in 2008, the Real Estate Economic Research Institute has said.

  • Japan cuts rates to 0.1%

    19 December 2008

    The Bank of Japan has slashed its benchmark interest rate to just 0.1%, joining a wave of global cuts as it warned of a sharp deterioration in the world's second largest economy.

  • Aussie household wealth crashes

    19 December 2008

    Australian households have lost a quarter of their wealth since the global financial crisis began late last year, with the latest official count putting the carnage at a total $700bn.

  • Rising mortgage rates to hamper HK upgrading

    19 December 2008

    About 450,000 homeowners who are enjoying low-interest mortgage loans may defer plans to move to bigger flats now that it appears Hong Kong's eight-year 'negative mortgage rate' regime will end next year, said Midland Realty Holdings.

  • Beijing policy moves boosts mainland property shares

    19 December 2008

    Hong Kong-listed mainland property shares rallied yesterday, a day after Beijing unveiled new measures to support the ailing market.

  • Daiwa House sells at loss to cut glut

    18 December 2008

    Daiwa House Industry Co., Japan's biggest home builder, said it may sell some houses and apartments at a loss to lure buyers as the recession threatens to prolong the country's longest housing slump.

  • Indian realtors seek more aid

    18 December 2008

    Real estate players, under the aegis of National Real Estate Development Council, apprised Planning Commission deputy chairman Montek Singh Ahluwalia and other officials of depleting demand and liquidity crunch. They sought credit and increased overseas borrowings but the government made it clear that it would not tinker with the monetary policy again and again to restore real estate boom.

  • Queensland shoppers threaten boycott over parking fees

    18 December 2008

    Thousands of angry shoppers have threatened to boycott Westfield Chermside if the retail giant proceeds with a controversial plan to introduce paid parking next year.

  • Beijing steps up property sector boost measures

    18 December 2008

    The country's ailing property market was given a fresh boost yesterday with the announcement of tax relief for home buyers and measures to loosen liquidity constraints for developers.

  • HK banks refuse to pass on rate cuts

    18 December 2008

    Hong Kong lenders yesterday left their prime lending rates unchanged, ignoring another steep cut in rates for the US dollar, to which the local currency is pegged.

  • India house market aid could harm banks

    17 December 2008

    Will the government-backed housing loan package push PSU banks towards an uncharted territory? Some quick back-of-the-envelope calculations bring out the unprofitable and the dark side of Monday's government-backed home loan package.

  • New Lend Lease chief promises prudence

    17 December 2008

    Aa he prepares to take over the reins of Lend Lease, one of Australia's largest property companies, Steve McCann says he expects more bad news before seeing a recovery in the difficult and turbulent property market.

  • Centro stocks wobble on deal doubts

    17 December 2008

    Securities in debt-laden Centro Properties Group pulled back from early highs amid confusion over a debt extension agreement that will leave the shopping centre owner hanging by a thread until mid January.

  • HK price and rent falls to go on to next year

    17 December 2008

    Property prices and rentals in Hong Kong are plunging across the board as the year draws to a close - and the retreat is expected to continue in the new year, experts say.

  • HK, Korean owners slash China asking prices

    17 December 2008

    A growing number of offshore owners of mainland flats are cutting their asking prices to attract buyers back to a market that has become cautious as a result of the global financial crisis.

  • Beijing ponders REIT launch

    17 December 2008

    The launch of real estate investment trusts in mainland China is back on the policy agenda in a 30-point programme of measures planned by the State Council to revitalise the country's finance sector.

  • HK cuts base rate by 100 bps

    17 December 2008

    The Hong Kong Monetary Authority cut its base rate to a record low on Wednesday, exerting more pressure on HSBC and other banks to cut their lending rates in the territory.

  • Oz couple loses home via Facebook

    17 December 2008

    An attorney in Australia has used the popular networking website Facebook to notify a couple they lost their home after defaulting on a loan.

  • Centro’s rescue bid

    16 December 2008

    Centro Properties, the Australian property company, has agreed a massive debt for equity swap with its lenders after it failed to refinance A$5.05bn (£2.2bn) of debt.

  • Industrialists fight Mumbai Stamp Duty ruling

    16 December 2008

    Industrialist Nusli Wadia and four companies, including Sahara Investment and Go Investment, have been asked to shell out Rs124.81 crore as stamp duty and penalty for a land agreement entered into in 2001 for large tracts of land in north Mumbai. But the industrialist has moved the Bombay high court and challenged the June 2008 notice issued to him by the state's stamp authorities.

  • Fears of debt keep auction rate down

    16 December 2008

    Interest rate cuts and the increase to the first-home buyers grant appear to have failed to restore confidence to the property market with auction clearance rates dropping sharply over the month.

  • Lend Lease appoints new CEO

    16 December 2008

    After a nine-month worldwide search Lend Lease has appointed a chief executive from its own back yard.

  • Centro close to rescue

    16 December 2008

    Centro appears to have dodged its latest and most dangerous bullet, with its banks agreeing in principle overnight to a major extension of the group's $5.9 billion debt load.

  • NZ prices slide as credit crunch keeps buyers away

    16 December 2008

    New Zealand house prices fell 6.8% last month from November last year as an economic recession and a deepening global financial crisis deterred buyers.

  • Japan housing agency seeks new model

    15 December 2008

    The Japan Housing Finance Agency, with $429bn in assets, said it needs a new business model after copying the failed practices of Fannie Mae and Freddie Mac.

  • Japanese business confidence 'plunges'

    15 December 2008

    Business confidence among big Japanese manufacturers plunged at the fastest pace in more than three decades as the economic crisis deepened, a central bank survey showed.

  • Banks set to back Centro

    15 December 2008

    Bankers to the financially stricken Centro Properties are expected to sign a deal today that will throw the giant retail landlord a financial lifeline.

  • Projects near railways seen as best Hong Kong bet

    15 December 2008

    Luxury and mass residential properties located near new railway projects will enjoy a higher upside potential than other properties once the market recovers, property analysts project.

  • Henderson to test HK market with discounts

    15 December 2008

    Hong Kong's third-biggest property developer, Henderson Land Development, is poised to test the market with a limited release of discounted units in 10 residential projects it built on the mainland over the past three years.

  • Property sales plummet in Australia

    12 December 2008

    Commercial property sales in Australia have plummeted by 65% on 2007, hitting the lowest level for 14 years.

  • ING Asia fund of funds eyes $250m equity

    12 December 2008

    Fund manager says ‘track record’ prompted investors to pledge cash

  • Zero growth for Japan in 09 expected

    11 December 2008

    The government is compiling its economic forecast for fiscal 2009 with zero growth in terms of real gross domestic product, sources have said.

  • Housing aid for Indian urban poor set for approval

    11 December 2008

    In a move which also seems to be aimed at giving a boost to the economy facing recession, the Union cabinet on Thursday is likely to approve a scheme to extend interest subsidy of 5% a year on the market rate of interest on housing loan for a period of five years to economically weaker sections and low income groups of society.

  • Troubled Oz Trust seeks new chief

    11 December 2008

    Property trust GPT Group has appointed executive search firm Heidrick and Struggles to find a replacement for CEO Nic Lyons.

  • Valad seeks buyback backer

    11 December 2008

    Valad Property Group's management is believed to be seeking an equity backer to launch a company buyback worth as much as $330m.

  • ING Property sells five NZ assets

    11 December 2008

    ING Property Trust is raising $NZ49.4 million ($A40.81 million) to pay down debt by selling five properties.

  • Australia building approvals lowest since 2001

    11 December 2008

    Australian home-building approvals dropped in October to the lowest level since 2001, adding to signs a contraction in the property market has worsened.

  • Private equity funds seek to bail out

    11 December 2008

    Real estate private equity funds that made aggressive investments in the mainland market at high prices prevailing in 2006 and last year are now being forced to offload the under-performing assets.

  • China Overseas Land sales up 37%

    11 December 2008

    China Overseas Land property sales in November rose 37.4% from a year earlier to HK$2.26bn (US$290m), boosted by strong growth in sales in central and western China.

  • Real estate fund mops up $895m

    10 December 2008

    The venture capital arm of IL&FS has announced that in its second real estate fund it has mobilised $895m (nearly Rs 4,500 crore).

  • Queensland property industry expects 'job carnage'

    10 December 2008

    Queensland's peak property body has predicted that up to 3500 people could lose their jobs as a result of a revenue measure introduced by the Bligh Government in yesterday's budget review.

  • Consumer confidence up as house loan approvals rise

    10 December 2008

    Consumer confidence improved this month while housing-finance approvals rose for the first time since January.

  • East Asian growth to fall 2%

    10 December 2008

    East Asian economies are far better prepared to tackle the latest financial turmoil than they were during their own crisis a decade earlier, but they nonetheless face growing dangers as the global slump deepens, revealed the World Bank.

  • Shopping centre owner's debt burden eased

    9 December 2008

    Shopping centre owner Macquarie Countrywide Trust has pushed out the maturity date on its $250min debt by 12 months to February 2012.

  • R&D hub draws Japanese to Singapore

    9 December 2008

    Singapore's latest push to become an Asian centre for research and development by pumping millions of dollars into state-of-the-art infrastructure and opening its doors to foreign talent is already attracting Japanese firms.

  • Mainland property recovery could be short-lived

    9 December 2008

    Home purchases in some major mainland cities rebounded last month, but property consultants are unimpressed.

  • Government mulls help for India tourism sector

    9 December 2008

    After the stimulus package for India Inc, government is mulling a package including luxury tax cut for the tourism and hospitality sector.

  • REITs booted from share indices

    8 December 2008

    The turmoil of the past year has taken the final toll on several once-mighty real estate investment trusts, which have lost close to 90% of their market value and are no longer eligible to hold a position in any key sharemarket index.

  • Thaksin's daughter buys HK$45m house

    8 December 2008

    The youngest daughter of former Thai prime minister Thaksin Shinawatra bought a luxury home in Ho Man Tin for HK$45 million last month, according to transaction information at the Land Registry.

  • SHKP sales better than expected

    8 December 2008

    Strong demand at two residential projects launched by Sun Hung Kai Properties at the weekend could encourage rival developers to bring postponed launches forward, analysts said.

  • Melbourne set for collapse

    8 December 2008

    Melburnians can expect to see fewer cranes in the sky next year as commercial projects are shelved and builders struggle to maintain their usual volume of work.

  • Indian economy to grow at 6.8% for 08-09

    5 December 2008

    With the companies across sectors showing signs of weaknesses, global financial major Citi on Thursday said India's economic growth rate would slow to 6.8% in the current fiscal even if the RBI cuts rates.

  • Banks set to control Babcock

    5 December 2008

    Banks are likely to emerge with a significant slice of Babcock & Brown as part of an emergency $150m funding package aimed at heading off the collapse of the struggling infrastructure group.

  • Japanese firms' profits plummet 22%

    5 December 2008

    Companies' pretax profits fell 22.4% in the July-September quarter from a year earlier, posting the biggest drop in about seven years as the corporate sector was hit hard by the global economic slowdown, the Finance Ministry said Thursday.

  • DLF scales back Gurgaon mall as retail’s Indian summer begins to cool down

    Global December 2008

    Country’s biggest developer to cut back on plans for Mall of India, as retail demand plummets

  • Mumbai in mourning

    Global December 2008

    Market reflects on immediate and long-term impact of terror attacks

  • Sayonara, good times - as Japan slips into recession J-REITs hit buffers

    Global December 2008

    As Japan slips into recession, the spectre of the ‘lost decade’ of the 1990s returns to haunt the property market. Doug Morrison reports from Tokyo

  • Zell buys equity in China’s Shanghai Yupei

    Global December 2008

    Sam Zell’s Equity International has bought a $46m (£30m) stake in Chinese industrial property company, Shanghai Yupei.

  • HK sales hit 17-year low

    4 December 2008

    Home sales in Hong Kong dropped last month to the lowest level in 17 years as the worsening global financial crisis scared away buyers.

  • Oz building approvals slump

    4 December 2008

    New home building approvals tumbled in October to their lowest level since March 2001 as the Government's stimulus package and rate cuts failed to ease fears about the future of the economy.

  • Property trusts seek capital

    4 December 2008

    The Dexus Property and ING Office funds have taken advantage of the fall in interest rates by tapping the market for up to $800m in capital raisings to retire debt from their balance sheets.

  • Shun Tak and Jumeirah team up in Macau

    4 December 2008

    Shun Tak Holdings plans to develop a resort complex on Macau's Cotai Strip and has contracted Dubai's state-backed Jumeirah Hotels & Resorts to manage the hotel property, managing director Pansy Ho Chiu-king announced yesterday.

  • Babcock & Brown shares soar on rescue

    4 December 2008

    Babcock & Brown's emergency funding lifeline has breathed life into the struggling investment bank's shares, as the market digests the new loan.

  • Indian property 'will not be heavily impacted by attacks'

    3 December 2008

    The Indian property market will not be heavily impacted by the Mumbai terror attacks last week according to two AIM-listed Indian property companies.

  • Oz economy hits the skids

    3 December 2008

    Australia's economy slowed sharply in the September quarter, validating the Reserve Bank's decision to wind back three years of interest rate rises in a little over three months.

  • HK looks to mainland to fill surplus space

    3 December 2008

    Hong Kong office landlords are increasingly looking to mainland firms and especially big financial institutions to take up space being vacated by existing tenants.

  • Mortgage securities set for overhaul

    3 December 2008

    Financial institutions are set to overhaul standards for mortgage securities to give investors, servicers and rating agencies greater certainty over credit quality and how home loans can be changed when borrowers fall behind on payments.

  • Oz cuts rates by 100 basis points - banks pass it on

    2 December 2008

    The Reserve Bank cut rates by a full percentage point today, extending the biggest round of reductions since the early 1990s.

  • Economy to grow at 7.5% say India PM

    2 December 2008

    PM Manmohan Singh on Monday said despite economic recession and the difficult situation in western countries, India's growth rate would be maintained at around 7.5% in 2008-09.

  • B&B buys time to thrash out support

    2 December 2008

    Babcock & Brown will extend its share suspension until at least tomorrow as it attempts to thrash out final support for a fresh funding agreement with its bankers.

  • Property sales jump in Beijing, Shanghai

    2 December 2008

    Property sales in Beijing and Shanghai rose in November after being stagnant in the previous few months. Apartment sales climbed 52.4% in Beijing from October, while Shanghai grew 41.98%, official figures of the two cities showed.

  • Builder's IPO put on hold

    1 December 2008

    The securities regulator will not allow China State Construction Engineering Corp, the country's biggest home builder, to proceed with plans for a large initial public offering in the near future given the weak market conditions, the Shanghai Securities News reported.

  • Lower-priced flats attract interest

    1 December 2008

    Sun Hung Kai Properties' two residential projects released for sale yesterday registered divergent responses, with the mass-market properties in Yuen Long generating a higher level of interest than the luxury units in Sha Tin.

  • Babcock thrown a lifeline

    1 December 2008

    Babcock & Brown is expected to extend its share suspension this morning as it hammers out final details of fresh funding agreement with its banks, in a deal that will throw the beleaguered infrastructure funds group a lifeline.

  • Terror attack to hit prices

    1 December 2008

    The terrorist attacks on Mumbai are likely to further pull down the sagging property prices in the city, especially in South Mumbai. South Mumbai, the most expensive property market is expected to face a dip in value across all segments, including rentals, in the next six months, feel industry experts.

  • Beijing ready for further rate cuts

    28 November 2008

    Mainland officials say they may cut interest rates further and ease the tax burden on low-income earners as the country's deepening economic slowdown threatens social stability.

  • Rate cut to stabilise China market

    28 November 2008

    The central bank's rare big interest rate cut will help stabilize the property market but will not ease property developers' tightened cash flow, experts said.

  • Trilogy eyes mortgage fund

    28 November 2008

    Brisbane-based funds manager Trilogy Capital Group has launched a takeover offer for the management rights to the $970 million City Pacific First Mortgage Fund.

  • B&B fights to resolve crisis

    28 November 2008

    Last ditch talks were under way last night between Babcock & Brown and its banking syndicate to try to resolve the financial crisis that could plunge the beleaguered asset management group into administration.

  • Shaky investors further rattled by Mumbai attacks

    28 November 2008

    The attacks that left dozens dead in India's financial capital have dealt a fresh blow to the country as an investment destination, but India's size and growth will retain their allure over the long term.

  • London’s West End is most expensive office location in the world

    28 November 2008

    London’s West End and Moscow remain the world’s two most expensive office markets, respectively, while Hong Kong’s CBD, Tokyo’s Inner Central District and Mumbai’s Nariman Point make the top five, according to CB Richard Ellis’s latest office rent research.

  • Office space floods market

    27 November 2008

    Enough office space to house about 5000 employees has come up for sub-lease, as debt-stricken financial firms try to figure out ways to pay landlords for some of Sydney's most prestigious office towers.

  • Shocked industry demands tougher terror laws

    27 November 2008

    Expressing shock over the terrorist attack in Mumbai claiming about 100 lives, Indian industry today demanded tougher laws along with "stronger and firmer" leadership to tackle terrorism.

  • Construction 'surprisingly strong'

    26 November 2008

    Activity in Australia's construction sector was surprisingly strong in the third quarter, lifting expectations that domestic economic growth avoided contraction even as the world's banking sector went into deep convulsions.

  • Luxury house price falls set to continue

    26 November 2008

    Demand for luxury residential units in Hong Kong remains depressed as a result of continued poor market sentiment and uncertainty over the local and global economic outlook, say property watchers.

  • Secondary transactions dip as buyers wait

    26 November 2008

    Property sales at major housing estates lost momentum last week as potential buyers stayed on the sidelines in anticipation of Sun Hung Kai Properties adopting a low-price strategy at the upcoming sale of two new projects.

  • CBRE at centre of inquiry call

    26 November 2008

    Hong Kong surveyors have urged their institute to examine the circumstances surrounding an unprecedented attack on the professionalism of a valuer.

  • Paul says India will suffer

    25 November 2008

    His faith in India remains unshaken but steel magnate Swraj Paul has little doubt that it will suffer badly in the current global economic meltdown, a view contrary to that of many economists who feel that the country's strong domestic economy will help it deal with the crisis.

  • Investors target 2009 for China

    25 November 2008

    Property investors are pencilling "Second half, 2009" in their diaries as the likely time to start pouring money into the mainland again as they search for bargains in its ailing real estate market.

  • China growth to hit 19-year low

    25 November 2008

    The World Bank said on Tuesday that mainland economy will grow by just 7.5 per cent next year, the lowest level in 19 years, due partly to the global economic slowdown.

  • Cushman and Wakefield's economic pulse: Asia

    24 November 2008

    The rate of decline of the global economy has surprised everyone, and now the strength of response from some governments has been equally surprising.

  • Perth price fall worst in 25 years

    24 November 2008

    The once booming Perth property market has recorded its third consecutive quarterly fall in the median house price - a phenomenon not seen in 25 years - as talk of a recession eats into consumer confidence.

  • Lend Lease slashes offer retirement home stake

    24 November 2008

    Lend Lease lowered its offer today to Babcock & Brown for its 12.5% stake in retirement village operator Babcock & Brown Communities after due diligence and talks with lenders.

  • Tax cut to attract more Beijing buyers

    24 November 2008

    Homebuyers in Beijing will have their contract tax halved if the price is below a certain level from today.

  • HK central office rents 'could drop 60%'

    24 November 2008

    Souring business sentiment and expectations of further lay-offs as Hong Kong's financial sector continues to reel from the impact of the global credit crisis could see office rents in Central decline by up to 60% over the next two years, analysts warn.

  • Mega Tower looses 38 floors

    24 November 2008

    The Mega Tower - Hopewell Holdings proposed 93-storey hotel skyscraper in Wan Chai - is no more. The developer yesterday announced a revised plan, cutting its height by 38 floors.

  • Emaar sees prices fall

    24 November 2008

    Residential prices for Emaar Properties’s signature Downtown Burj Dubai development have fallen by at least 22%, with reductions of up to 50% within the Burj Dubai tower itself, according to property brokers.

  • Mapic: Top retail locations globally still attract rising rents

    18 November 2008

    The downturn has polarised the rents achieved in primary and secondary locations across the globe according to CB Richard Ellis’ latest Global Retail Rents Survey.

  • Second Australian giant seeks rescue capital raising

    14 November 2008

    Mirvac has become the second Australian property giant in a fortnight to undertake a large capital raising to shore up its balance sheet.

  • Australian Prestige Residential market report: November 2008

    7 November 2008

    All sectors of the Australian residential market have slowed over the last year, though the upper end of the prestige residential sector has weathered the downturn better than the mainstream market.

  • Asia Pacific capital values to fall by 20% in 2009

    7 November 2008

    Capital values across Asia Pacific will fall by as much as 20% in 2009 as the international financial meltdown continues to spread, according to ING Real Estate’s global research head.

  • Plaza buys out Indian joint venture partner

    3 November 2008

    Plaza Centers, the emerging markets developer, has bought out the 50% interest of Indian joint venture partner, Avinash Bhosale Group at its mixed-use Koregaon Park scheme in Pune, for $20m (£12m).

  • Goodman’s A$1.5bn recovery position

    31 October 2008

    Troubled Oz group pins hopes on disposals, rights issues and Asian focus

  • Goldman Sachs to lay off 3,300 staff worldwide

    23 October 2008

    Goldman Sachs is to lay off around 3,300 staff worldwide and around 600 in London

  • GPT MD, Nic Lyons steps down

    23 October 2008

    Nic Lyons, the managing director and CEO of Australian listed property trust GPT, will leave the company immediately.

  • ProLogis secures £449m China credit line

    22 October 2008

    ProLogis has secured a RMB5bn (£449m) senior credit facility for its Chinese development programme.

  • Grosvenor launches $600m China retail fund

    22 October 2008

    Grosvenor is to expand its presence in China with the launch of a $600m (£365m) opportunity fund.

  • ProLogis expands in Korea

    22 October 2008

    Global shed giant ProLogis has increased its exposure to the Korean logistics market with the purchase of a $44.2m (£27.2m) distribution centre in Icheon City, South Korea.

  • DTZ opens Seoul office

    16 October 2008

    DTZ has partnered with Seoul-based Prime Asset Advisors Company (PAC) to open a new office in Seoul, South Korea.

  • Lend Lease chief resigns from board

    9 October 2008

    Lend Lease chief operating officer, Ross Taylor has resigned from the board as executive director, and will leave the group later this year.

  • Mitsubishi bank buys stake in Aberdeen

    2 October 2008

    Japanese bank Mitsubishi UFG has bought a 10% stake in Aberdeen Asset Management.

  • It’s a small world

    04 March 2005

    The challenge of globalisation for Europe’s cities will be the focus at next week’s Global Cities conference in the south of France.

  • Capital intensive

    International Supplement 1 October 2004

    In the rush to build before the government’s Olympic deadline, huge schemes are going up all over Beijing. But many doubt their viability.

  • Double Take

    International Supplement 1 October 2004

    The already well-established property markets of Hungary and the Czech Republic are now gearing up for the expected influx of western investors.

  • Forever Chingland

    International Supplement 1 October 2004

    The rural, English-themed Thames Town in the Shanghai suburbs is a world away from its crammed, bustling downtown.

  • Life in the fast lane

    International Supplement 1 October 2004

    The Slovakian economy and property industry are speeding ahead since joining the EU, thanks largely to motor manufacturers and a flat-rate tax system.

  • New arrivals

    International Supplement 1 October 2004

    The 10 new European Union member states have brought with them myriad economic, political and historical interests.

  • Power of the people

    International Supplement 1 October 2004

    Suzhou, with its seven million inhabitants and 100 sq mile industrial park, is one of hundreds of secondary cities powering the Chinese economy.

  • Property needs to be sophisticated worldwide

    International Supplement 1 October 2004

    Only 10 years ago it would have been a brave investor who poured money into immature property markets, perhaps those just beginning to emerge from the command economies of former communist regimes.

  • Red alert

    International Supplement 1 October 2004

    The Chinese government is taking action to stop the Chinese economy from overheating. Helen Thomas reports from Beijing

  • Warsaw returns

    International Supplement 1 October 2004

    EU accession has brought Warsaw its first chance to catch up with the west. But will planning struggles and environmental protests hold back the city? Natalie Stevenson reports from Poland

  • Advance Australia fair

    14 November 2003

    There was a time when Brits were paid to emigrate to Australia, but now companies from Down Under are coming into their own in the UK market.

  • Australia's John Ritblat

    14 November 2003

    Over the past 30 years Greg Paramor has become Australia's foremost property figure. Tristan McConnell met Australia's deal machine in Sydney and reviews life Down Under.

  • Golden Era

    14 November 2003

    As the rugby world cup reaches its climax we embark on a 12-page tour of Australia and find a property market that could be a vision for the UK

  • Office walkabout

    14 November 2003

    Tristan McConnell takes a guided tour with FPDSavills around the major office markets on Australia’s mainland

  • Redesigning an icon

    14 November 2003

    The original architect of Sydney Opera House is masterminding a refurbishment programme on its 30th birthday.

  • The Future

    14 November 2003

    It all seems familiar at first glance. The governing party is the best of a mediocre lot; the streets are full of shoppers and there's a coffee bar on every corner; the financial news debates fat-cat salaries and corporate governance;commercial property investment is booming; it's spring, it's cold and it's raining. Australia seems to hold few surprises other than its similarity to the UK. But thanks to the 'mums and dads' its commercial property market is one of the world's most ...

  • The great leap forward

    5 September 2003

    The 2003 Expo Real conference in Munich is broadening its horizons away from Germany with a day devoted to property investment in China

  • Don't mention the war

    International supplement 8 November 2002

    Western companies are feeling the backlash as Saudi Arabia braces itself for a US attack on Iraq. But money could pour into the UK as a result.

  • Property fantasia

    International supplement 8 November 2002

    Imagine a place where you can build your own land, where entire shopping malls sell nothing but jewellery. Dubai is the land of developers' dreams. Or is it? We leapt into a speedboat to find out

  • States of diversity

    International supplement 8 November 2002

    Ian Gladwin of Cushman & Wakefield Healey & Baker in Kuwait rounds up sector activity across the smaller Gulf states, particularly Kuwait's efforts to diversify from its reliance on oil

  • King Kong

    31 May 2002

    Li Ka-shing Cheung Kong is part of the fabric of Hong Kong. We discover why the developer is reaching ever higher

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