All Property Week articles in 05 December 2008 – Page 2
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Property values could fall a further 25% says RICS
Commercial property capital values could fall by a further 25% over the next two years taking the total decline to at least 50% ‘thanks to by a sharp drop in rents’, said the RICS.
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Retail development pipeline sees record decline says CBRE
CB Richard Ellis said the total amount of shopping centre floor space under construction in Britain is 7.9m sq ft, 40% down on the 13 m sq ft peak recorded in March 2007.
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Artisan’s Liverpool subsidiary goes into administration
Directors of ACG North, a division of Artisan Construction Group, have placed the company into voluntary liquidation.
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OnlineMartin Bruce named property entrepreneur of the year
Martin Bruce of Scotia Homes has been named Property Entrepreneur of the Year at the National Final of the Bank of Scotland Corporate £30 Million Search for Property Entrepreneurs.
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Gazeley delays at Magna Park
Gazeley has delayed plans for its 4m sq ft Magna Park distribution scheme near Cambridge after a housebuilder halted the development of a local bypass.
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ING withdraws City office from the market
ING Real Estate has withdrawn its 88 Wood Street office block in the City from the market after failing to secure a buyer.
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Catella’s UK split gives birth to new firm
Catella’s UK investment arm has separated from the Swedish property group.
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OnlineHSBC confirms Canary Wharf tower takeover
HSBC has confirmed it will take control of its tower in Canary Wharf from troubled Spanish property giant Metrovacesa.
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NewsIndian economy to grow at 6.8% for 08-09
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.
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NewsWashington targets home owners at last
After pouring vast amounts of money into financial institutions of almost every type, and having little to show for it, the Bush administration and the Federal Reserve are suddenly taking a new look at ordinary homeowners.
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Banks set to control Babcock
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.
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Mubadala buys into US property firm
Mubadala Development Company, the Government-controlled fund, has acquired 24.9% of the US property company John Buck, officials said on Thursday. The amount paid was “below US$50 million” (Dh183.7m) according to a source close to the company.
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Al Barakah seeks breather to repay investors
The chief executive of a property development firm suspected of cheque fraud has written an e-mail distributed to investors asking for time to repay them after failing to deliver on promised 50 per cent returns on deals for buying apartments.
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Japanese firms' profits plummet 22%
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.
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Halifax sees gloomy future for prices
Average house prices fell by 2.6% in November from the previous month, wiping out the gains on home equity earned since July 2005, according to the Halifax house price index published yesterday.
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OnlineBritish Land in Meadowhall sale move
British Land has reignited talks to sell a large stake in its flagship £1.4bn Meadowhall shopping centre in Sheffield, with a London-listed property fund backed by sovereign wealth from Abu Dhabi seen as a frontrunner to secure the deal.
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News
Big banks not passing on rate cuts
Britains's biggest banks defied Gordon Brown last night by failing to pass on the lowest interest rates for more than 50 years.
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Rates lowest since 1951
Interest rates were slashed by another percentage point yesterday, bringing the official cost of borrowing down to 2%, equal to the lowest rate since the Bank of England was founded in 1694.
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NewsBanks take over Metrovacesa
Spain’s Sanahuja family ceded control of Metrovacesa to creditors, less than two years after completing a leveraged buy-out of one of Spain’s biggest property companies.
