All Property Week articles in 06 March 2009 – Page 14
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Japan Post to explain privatisation property sales
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.
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Indian government focuses on housing as growth booster
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.
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US REIT dividend cuts approach
As real-estate investment trusts try to hoard cash, shareholders are poised to lose out on some $4.76bn of dividend payments over the next year.
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Commercial renters start credit-checking landlords
Prospective tenants are asking for financial statements from landlords, hoping to avoid companies that might default on their mortgages and leave tenants at risk of losing the space. Tenants are also more wary of subleasing space, and are tending to flock to buildings with stable owners.
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Ex-Countrywide bosses profit from loan distress
A dozen former top Countrywide executives now stand to make millions from the home mortgage mess.
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Relocation and expansion to bolster China industrial sector
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.
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More pain for HK luxury rents
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.
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Qatar's Barwa profits fall more than 40%
Qatar’s Barwa Real Estate Company reported a 41.5% drop in 2008 net profit to 310 million riyals (US$85.14m) as it lost money on the value of properties, sending its shares down more than 6%.
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Dubai World Trade Centre delayed
Construction work on the first phase of the Dubai World Trade Centre District project has been slowed as the developer focuses on expanding exhibition space at the Dubai International Convention and Exhibition Centre.
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US housing plan to be revealed
The US Treasury will today unveil details of President Barack Obama’s $275bn (€219bn, £196bn) plan to help financially stretched homeowners avoid foreclosure, seen as an essential piece of the administration’s economic recovery efforts.
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Morgan seeks to stage Redrow coup
Steve Morgan, Redrow founder, has asked for a seat on the board of the house builder after announcing that he was in a position to take a 30% stake in the company.
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Business attacks costs in London
A survey of business leaders’ attitudes to London has found that more than half said poor quality of life, cost of living and inferior transport in the capital meant they would look at other emerging cities in which to invest, work and live.
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Brown wins Obama's backing for global regulation shake-up
Gordon Brown emerged from the Oval Office yesterday clutching the prized endorsement of Barack Obama for Britain’s 'special relationship' with the US and support for his plan for a global regulatory shake-up and crackdown on offshore banking centres.
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Taxpayer set to fully fund PFI schemes
The Treasury is prepared to lend all the debt required to PFI projects to ensure that billions of pounds worth of education, waste and transport schemes go ahead, Yvette Cooper, chief secretary to the Treasury, said yesterday.
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AIG still faces billions in credit losses
AIG, the insurer controlled by the US government, still faces billions of dollars in potential losses on credit guarantees it provided for complex sub-prime mortgage securities, in spite of its $62bn fourth-quarter loss and regulatory efforts to unwind its holdings, company filings show.
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Persimmon loses £780m
Persimmon wrote off a fifth of its assets last year and announced a pre-tax loss of £780m, but said that its refinancing earlier this week would enable it to benefit from a turn in the market.
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Rights issue to fore as Brixton axes chief Wheeler
Brixton has parted with its chief executive of 24 years in a move seen as paving the way for a rights issue later this month.
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Best Buy delays UK debut
Best Buy, the US electricals group, has pushed back its assault on the UK as it grapples with troubles in its own backyard.
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Rock directors paid nearly £1m as negative equity climbs
Northern Rock said yesterday that Ann Godbehere, its recently departed finance director, received £173,000 on top of her annual £786,000 salary to fly to and from her home in Switzerland. This made her the highest paid director at Northern Rock with remuneration of £959,000.
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Lewis eyes Bulgarian again
Joe Lewis, the billionaire, is making another attempt to take over the property company in which he has a 35% stake. The board urged shareholders not to accept the 16p-a-share offer made through Windsorville, Lewis’s investment vehicle.
