All Property Week articles in 19 June 2009 – Page 3
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US mortgage refinancing prospects bleak
The Mortgage Bankers Association cut its forecast of home-mortgage lending this year by 27% amid deflating hopes for a boom in refinancing.
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Goodman Group interest fees to jump on rating cut
Goodman Group has had its credit rating cut by one notch, due to high gearing and a weak outlook for its business.
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Tenants threaten Nakheel with legal action
Tenants and homeowners in Dubai’s Discovery Gardens have threatened legal action against Nakheel unless “exorbitant” service charge fees are further reduced.
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Dubai real estate among 'riskiest markets of post-War era'
Dubai is one of the 'riskiest' property markets of the post war era, a senior analyst has claimed.
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Al Barakah urges investors to drop claims
Executives at Al Barakah, the property development company whose chief executive is sought by Dubai Police over allegedly bounced cheques worth more than Dh40 million (US$10.8m), have invited investors to drop all claims against the firm in return for shares in a new holding company.
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Agents and brokers lose out in Gulf slump
Layoffs and consolidations in the property sector have not been limited to developers and contractors. Property agents and brokers have had an equally torrid time, leading to reduced sales, widespread sackings and mergers.
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Singapore developer holds back on China
CapitaLand Retail said China land remains too expensive for it to make acquisitions and the unit of Southeast Asia’s biggest developer will instead focus on completing its shopping mall projects in the country.
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Segro makes discounted offer for Brixton
Segro has agreed an all-share takeover for Brixton that values its industrial property rival at almost 40% below its market price on Friday.
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City would be damaged by European rules
The City of London has warned that new European regulations could ride roughshod over the interests of the UK, where the financial services sector employs more than 1m people and generates billions of pounds in income.
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Repossession rate falling says CML
Fewer homeowners are expected to face repossession this year than had been feared because there is less pressure on people struggling with mortgage repayments, according to a forecast from the Council of Mortgage Lenders.
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Mortgage arrears ease
Cuts in interest rates and pressure on lenders to be lenient on people struggling with mortgages appear to have borne fruit, according to data published yesterday.
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One in ten borrowers in negatibe equity
One in 10 borrowers with an excellent credit record are trapped in negative equity, owing more on their mortgage than the value of their homes, says a report that forecasts a peak-to-trough fall in house prices of up to 35%.
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Triathlon Homes to buy 1,379 Olympic Village affordable homes
Triathlon Homes, a joint venture between First Base and housing associations Southern Housing Group and East Thames Group, will buy 1,379 affordable homes in the Olympic Village for £268.7m.
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Clyde Gateway buys in Farme Cross
Clyde Gateway Urban Regeneration Company has bought 44,000 sq ft of office space in Farme Cross, South Lanarkshire for around £3m. The space will be used to accommodate firms forced to move due to the 2014 Commonwealth Games.
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Ediston and IVG complete Broadway.
Ediston Properties and IVG Development (UK) have completed their £45m office development in Glasgow, Broadway One.
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New development director at Asda
Steve Masters has been appointed as property development director at Asda.
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River Island to press ahead with big shed
River Island has confirmed that it will press ahead with the development of a new national distribution hub at Magna Park in Milton Keynes.
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Former Countryside director sets up new firm
Former regional land director at Countryside Properties Mark Thompson has set up a north-west based property consultancy company Blue Sphere.
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Time running out to vote in Property Week's accreditation poll
What do you think of the new RICS valuer accreditation scheme?
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Hollister signs in Liverpool
Hollister, Abercrombie and Fitch’s sister brand, has signed up in Liverpool.