All Property Week articles in 19 December 2008 – Page 8
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Indian realtors seek more aid
Real estate players, under the aegis of National Real Estate Development Council, apprised Planning Commission deputy chairman Montek Singh Ahluwalia and other officials of depleting demand and liquidity crunch. They sought credit and increased overseas borrowings but the government made it clear that it would not tinker with the monetary ...
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Borrowers rushing to refinance loans as rates drop
Homeowners around the country are scrambling to refinance their mortgages at the lowest rates since the early 1960s as the economy staggers through what's likely to be the worst recession in decades.
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Queensland shoppers threaten boycott over parking fees
Thousands of angry shoppers have threatened to boycott Westfield Chermside if the retail giant proceeds with a controversial plan to introduce paid parking next year.
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Beijing steps up property sector boost measures
The country's ailing property market was given a fresh boost yesterday with the announcement of tax relief for home buyers and measures to loosen liquidity constraints for developers.
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HK banks refuse to pass on rate cuts
Hong Kong lenders yesterday left their prime lending rates unchanged, ignoring another steep cut in rates for the US dollar, to which the local currency is pegged.
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Oman and Kuwait cuts rates, UAE holds out
Kuwait and Oman lowered their key interest rates yesterday following a historic rate cut from the US Federal Reserve on Tuesday.
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Burj Dubai topped out (maybe)
The Burj Dubai, the tallest building in the world, appears to be nearing completion as workers add an antenna with a blinking light. Samsung Engineering and Consturction confirmed its workers had started adding the antenna to the structure.
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Savills shares dip on warning
Savills, the property consultancy, warned that profits for the current year would be 'significantly' below expectations and said it was considering its dividend policy in the light of the downturn in commercial and residential property.
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Bank boss warns on new bailout
The government is likely to be forced to pump billions more pounds into UK banks, the Bank of England indicated yesterday.
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OnlineAfter 99 years, shutters to come down on Woolies
The shutters will come down on all Woolworths’ 807 stores by January 5 after Deloitte, administrator to the collapsed variety retailer, failed to find a buyer.
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BAA vows to fight airport sales
BAA yesterday vowed to fight the UK competition watchdog over its plan to make the embattled owner of Heathrow sell Gatwick, Stansted and Edinburgh airports to break its dominance of the industry in Britain.
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Galliford Try wins Stratford job
The London-listed construction group has been named the preferred bidder for a £25m contract to provide 178 mixed-tenure apartments for One Housing Group in Stratford, East London.
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German police search Hypo Real Esate offices
German prosecutors said that they had searched the offices of Hypo Real Estate Holding, the troubled lender, and the homes of former managers in an investigation of suspected market manipulation and other offences.
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Barratt agrees land sale
The house builder has agreed a £46m deal to sell industrial land and buildings under its continuing sale of Wilson Bowden assets, taking the total net sales proceeds so far to £155m, which will be used to reduce group debt.
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US home loan activity gets rates boost
There was renewed action in the US mortgage market last week, figures showed. However, mortgage experts said that it would take far more than Tuesday’s savage interest rate cut by the Federal Reserve to revive the stagnant housing sector.
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MPC considered even bigger rate cut
Bank of England rate setters considered an even more substantial cut in the key rate than the 1.0 percentage point agreed earlier this month.
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Barratt sells £46m of sheds
Barratt has agreed to sell £46m of industrial assets from its Wilson Bowden Developments subsidiary to Clowes Developments.
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Wolverhampton’s Summer Row centre on hold as partner pulls out
Multi Development UK has put the £300m Summer Row development in Wolverhampton on hold after its development and funding partner, a consortium of Northern Irish investors, pulled out of the scheme.
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Eurex reveals February launch date for first property derivatives exchange
The international derivatives exchange Eurex revealed today a launch date of 9 February for Europe’s first property futures.
