All Property Week articles in 19 December 2008 – Page 10
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Sharjah middle income project seen as way forward
Hydra Properties has launched a middle-income, low-rise community development for Sharjah following its debut community project in Abu Dhabi.
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Oz couple loses home via Facebook
An attorney in Australia has used the popular networking website Facebook to notify a couple they lost their home after defaulting on a loan.
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TDIC looks re-tenders projects
Abu Dhabi’s Tourism Development and Investment Company has re-invited contractors to bid for the construction of Saadiyat Beach Residences and is reviewing tenders on other projects in reaction to the economic slowdown.
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Savills warns profits will be 'significantly below’ forecasts
Savills warned today its profits for this year would be ‘significantly below’ analysts’ forecasts.
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Commercial property debt crisis looms
The value of commercial property loans in breach of their agreed terms more than trebled in six months as rapidly falling real estate prices hit a heavily leveraged sector struggling under almost £208bn of debt.
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US Fed slashes rates to historic low
The US Federal Reserve moved deeper into uncharted waters yesterday, heralding further dramatic and unconventional measures to support the economy as it slashed interest rates from 1% to virtually zero.
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Nationwide revives 95% mortgage - at a price
Nationwide, Britain's biggest building society, has become the first lender to re-introduce mortgages worth up to 95% of a property's value.
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OnlineGatwick, Stansted and Edinburgh Airports to be sold
The Competition Commission confirmed today it will require airport operator BAA to sell Gatwick, Stansted and Edinburgh airports to three different operators to improve competition and levels of service.
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Regulator monitors six housing associations
Six housing associations are on a regulator’s watch list over concerns about their financial health.
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Unite in £171m sale
The UK’s largest provider of student housing said that it has completed a sale of assets to the Unite UK Student Accommodation Fund for £171.3m and plans to use the proceeds to strengthen its balance sheet and reinvest in development activities.
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US housing starts fall steepest for 25 years
Figures showed that US housing starts fell to an annual rate of 625,000 in November, from 771,000 in October, the biggest fall in nearly 25 years. An annual rate of 740,000 had been forecast for November.
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Mayor to cut London costs by £1bn
Boris Johnson plans to make almost £1bn of cost savings across the Greater London Authority, Metropolitan police and Transport for London during the next three years to free up cash to help the capital through the recession.
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Qatari Diar comes to Shard aid
Qatari property developers have secured fresh funding for one of London’s highestprofile tower projects – the Shard of Glass at London Bridge – with the loan of an undisclosed sum from Qatari Diar, the state-owned real estate company.
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IVG sells Cornhill property
IVG, Germany’s largest commercial property company, has sold the former London headquarters of Lloyds TSB, at 14 Cornhill, to an unidentified sovereign wealth fund for about £125m. IVG bought the property for £21m in 2002.
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CML welcomes fees move
The trade association has welcomed the Treasury’s announcement that it will lower the fees for the credit guarantee scheme that was set up by the Treasury in October. Fees will be cut by about 25 per cent and the scheme has been extended from three to five years.
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JLL predicts further storm before the calm
The amount of money spent on European commercial property this year is expected to be down by 55% on last year’s total, according to Jones Lang LaSalle.
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OnlineChange at top of GVA Grimley
GVA Grimley chief executive Bob Barnett is to step down to focus on corporate recovery and insolvency work as part of a new structure at the firm.
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Multi’s UK arm makes redundancies
Belfast based Multi Development, the UK arm of Dutch property company Multi Corporation, has made a number of redundancies across all areas of its nationwide activity.
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Goodman expands in France
Goodman is to increase its exposure to France’s main logistics route with the opening of an office in Lyon and the development of two schemes in the area.
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Planning consent for British Land’s 60-acre Meadowhall site
British Land was yesterday granted outline planning consent to develop 63 acres next to its Meadowhall shopping centre in Sheffield.
