All Property Week articles in 19 December 2008 – Page 12
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Industrialists fight Mumbai Stamp Duty ruling
Industrialist Nusli Wadia and four companies, including Sahara Investment and Go Investment, have been asked to shell out Rs124.81 crore as stamp duty and penalty for a land agreement entered into in 2001 for large tracts of land in north Mumbai. But the industrialist has moved the Bombay high court ...
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US home builder sentiment stuck at record low
US home builder sentiment held steady in December but remained at a record low as deepening economic turmoil, a deteriorating job market, and a flow of foreclosed homes on to the market continued to hurt sales conditions, an industry group said on Monday.
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Fears of debt keep auction rate down
Interest rate cuts and the increase to the first-home buyers grant appear to have failed to restore confidence to the property market with auction clearance rates dropping sharply over the month.
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Lend Lease appoints new CEO
After a nine-month worldwide search Lend Lease has appointed a chief executive from its own back yard.
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Centro close to rescue
Centro appears to have dodged its latest and most dangerous bullet, with its banks agreeing in principle overnight to a major extension of the group's $5.9 billion debt load.
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NZ prices slide as credit crunch keeps buyers away
New Zealand house prices fell 6.8% last month from November last year as an economic recession and a deepening global financial crisis deterred buyers.
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Oman scheme bonds downgraded
Blue City, the largest property development in Oman, has had its bond credit rating downgraded to junk status, in a sign that the government’s efforts to diversify the economy is under strain because of the global financial crisis.
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Rotana plans 'robust' Gulf expansion
Rotana, the region’s largest hotel management company, plans to counter declining demand from the West with robust expansion in the GCC and emerging markets, the company’s vice president said today.
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Saudi mega-scheme city faces delay
The developer of the King Abdullah Economic City, Saudi Arabia’s flagship mega-project, is being forced to reconsider its plans and may delay some work as the global financial crisis stymies attempts to attract foreign investment and dries up financing.
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House building starts lowest since 1924
The construction of about 135,000 private houses were started this year, down from 203,500 last year, figures from the Construction Products Association and Ernst & Young showed. It is the lowest number of housing starts during peace time since 1924, when housebuilders started work on 87,000 properties.
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Abbey tightens rules on lending
Abbey, one of the UK’s largest lenders, has introduced stricter criteria to calculate how much new customers can borrow.
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Borrowing costs to fall as Government cuts charges
Businesses and homeowners should see borrowing costs fall and availability of loans improve after Alistair Darling yesterday cut the fees the government charges to guarantee bank borrowing.
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Wichford warns on future
The property investment company registered in the Isle of Man reported a wider full-year pre-tax loss as the economic downturn hurt the value of its property portfolio, and warned of more turbulence ahead.
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High street suffers as shoppers hit internet
Bargain hunters helped drive online retail sales last month but a drop in footfall on the high street at the weekend suggests the soaring trade on the internet is hitting stores that do not have an online presence.
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Fed set to push rates down to 0.5%
The US central bank looks poised to cut interest rates even closer to zero today as it steps up efforts to prevent the ailing US economy getting worse.
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Online
Texstyle World, Fads and Leveys go into administration
Strategic Retail, owner of homewares and DIY chains Fads, Leveys and Texstyle World has appointed administrators.
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OnlineTottenham Hotspur reveal new stadium designs
Tottenham Hotspur today revealed the proposed design for the club’s planned 60,000 seat stadium, part of the Northumberland development project.
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Online
Bluewater footfall up 6.2%
Bluewater shopping centre in Greenhithe, Kent reported a strong November, with footfall up by 6.2% compared to the same month last year.
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Online
King Sturge’s Spanish arm to file for administration
King Sturge España, the Spanish subsidiary of King Sturge, is to file for administration this week as a result of financial difficulties and the faltering Spanish property market.
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OnlineBrighton & Hove Albion Football Club signs £60m stadium contract
Developer The Community Stadium has signed a £60m-plus construction contract with Buckingham Group Construction for the development of a new stadium for Brighton & Hove Albion Football Club.
