All Property Week articles in 03 April 2009 – Page 10
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RICS set to raise global valuation standards
The RICS plans to launch a global consultation to develop an enhanced regulatory framework for valuation that it said will raise professional standards, improve confidence for clients and help secure the accurate valuations that underpin most economic activity.
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South African Property Opportunities' board members resign
Three board members of AIM-listed South African Property Opportunities (SAPO) have resigned.
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New England's tallest tower sold at knock-down price
Boston's John Hancock Tower, New England's tallest building, was sold Tuesday in a foreclosure auction held by an investor group for $660.6m, half the price paid by real-estate private-equity firm Broadway Partners three years ago.
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Swap deal raises Raptis revival hope
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.
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Oz retail landlords learn from British 'lobotomy'
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.
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'Mark-to-market' rule blamed for profit swings
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.
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Shanghai ponders raising plot ratio
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.
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Limitless lays off staff
Dubai property developer Limitless has made 38 staff redundant and is reviewing the pace of its developments as a result of the global economic downturn.
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Abu Dhabi towers to go on sale
Tamouh Investments, an Abu Dhabi-based property company, is planning to launch sales for five towers on Reem Island at Cityscape Abu Dhabi this month, a senior executive says.
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US cities see no bottom to house prices
House prices in the US’s 20 largest cities dropped 2.8% in January in another sign that the bottom of the housing market may still be some way off, according to the Case-Shiller index.
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OnlineKallakis has previous conviction
Achilleas Kallakis who is under investigation by the Serious Fraud Office (SFO) over an alleged £56m property fraud has a previous conviction for selling fake British titles to wealthy Americans.
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OnlineRetail yields drop to 5.9% at Allsop auction
Retail yields dropped by 40 basis points at Allsop's commercial auction yesterday.
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Darling yields on business rates rise
Alistair Darling bowed to pressure from business yesterday and announced plans to stagger this year’s increase in business rates – much of which will now fall after the general election.
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Ronson urges return to 'good old fashioned' values
Gerald Ronson has called for a return to 'good, old-fashioned property investment values' after buyers became obsessed with double-digit returns during the boom.
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Japan premier highlights G20 tension
Japan’s prime minister has dismissed Germany’s warnings about the dangers of excessive public spending in the downturn, saying Berlin had failed to understand why strong fiscal action was vital for recovery.
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Campaign over empty rates launched
As much as 15m sq ft of property has been demolished to avoid paying empty property rates since the tax was introduced a year ago.
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Quintain ponders capital move
The property group confirmed it was considering a possible capital-raising to bolster its balance sheet, after its share price fell by 35% in early trading.
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Commercial property expected to fall
The Colliers CRE/EG Capital survey reported that commercial property investors expect all-property capital values to fall by 15% this year and by 4% in 2010.
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Bellway upbeat despite dividend cut
Bellway slashed its dividend by more than 80% as falling house prices and volumes hit revenues and forced it to write down the value of its land bank.
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Major shake-up in English councils
Today sees the biggest shake-up in a single day in English local authority arrangements since the 1970s with the abolition of 44 councils that serve 3.2m people. The councils, from north Northumberland to the tip of Cornwall, will be replaced by nine unitary councils, stripping out a layer of local ...
