All Property Week articles in 03 April 2009 – Page 3
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Smee to consolidate his fit-out companies
Roger Smee is to combine his four office fit-out companies in a potential £48.9m deal.
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Warner sells St Johns Wood
Warner Estate Holdings has sold its St Johns Wood High Street estate for £39m.
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Abbey buys its Regent's Place offices from British Land
British Land has completed the sale of a £115m office scheme at Regent's Place to its tenant Abbey.
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China housing market shows improvement
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.
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US office vacancy hits 15.2%
Companies, struggling to cut costs, dumped a near-record 25 million square feet of office space in the first quarter, driving vacancy up and rents down, according to data to be released today by Reis Inc.
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US homeowner-aid plan threatened by second loan dispute
The Obama administration's $75bn effort to help troubled homeowners avoid foreclosure has hit a stumbling block: a fight over how to aid borrowers who have more than one home loan.
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HK property deals soar 60% to 8-month peak
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.
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Macau housing market posts surprise rebound
A surprise rebound in Macau's housing market has kindled hopes for recovery - despite clouds of uncertainty still hanging over the battered property sector.
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Malaysian developer looks to Gulf cash
Abu Dhabi-based Aldar Properties and Mubadala Development, together with Kuwait Finance House and Millennium Development International, of Lebanon, have invested Dh800 million (US$217.8 million) in Medini, a Dh73.4bn urban development in Malaysia.
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Cash boost for smaller Dubai developers
The Dubai Government is planning to make part of its multibillion-dollar programme to revitalise the property sector available to small and medium-sized developers, according to industry sources.
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House prices up for first time in 17 months
Hopes that the worst of the recession might be over were bolstered yesterday as house prices rose for the first time in 17 months and banks indicated that the credit crunch may be easing.
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Canary Wharf in bond buy-back move
Canary Wharf Group has offered to buy back £185m of its securitised debt from bond holders at discounts of up to 85 per cent of face value to take advantage of the prices being offered on illiquid corporate debt.
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Swiss Re cuts 1,200 positions
Swiss Re said yesterday it would cut 10% of its workforce, or almost 1,200 jobs, in an attempt to cut costs and tackle tougher markets.
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Construction sector decline slows
Britain’s construction industry shrank more slowly than expected last month, in the latest sign that the pace of decline in the UK economy is decelerating.
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B&B struggles to clear loan book
Bradford & Bingley, the nationalised lender, conceded yesterday that it would take some years to run down its £42.2bn loan book and said it would consider disposing of assets to achieve that end.
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Treveria loses £260m
The London-listed property investment group, which used to be managed by Dawnay, Day Treveria, reported a full-year pretax loss of €283.6m (£260m), compared with a profit of €33.6m last time, and said that it would not pay a final dividend.
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Taylor Wimpey soars 18% on bank debt deal
Shares in Taylor Wimpey surged 18% after the group edged closer to a deal with creditors to help restructure its £1.55bn debt pile.
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Deloitte’s Robin Priest to leave
Deloitte’s head of real estate corporate finance advisory, Robin Priest, is to leave the accounting giant.
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MarketsRevision time
Plans to transform Portsmouth’s retail fortunes have been hit by recession. The council must now decide to start all over again or go with a revised scheme
