All Property Week articles in 20 February 2009 – Page 4
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Francis Salway confirmed to speak at event crucial to the survival of the retail property sector
Property Week will host its fourth annual Retail Summit on 22 May 2009 at Le Méridien Piccadilly in central London.
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Waitrose expands HQ in Bracknell
Waitrose has taken 30,000 sq ft of office space in Bracknell to support its headquarters operation in the town.
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Cushman sets up distressed situations joint venture
Cushman & Wakefield has formed a joint venture with Investment Capital, a distressed situations consultancy headed by Jon Digby-Rogers.
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Laxey calls for new directors and chairman at Hirco
Activist investor, Laxey Partners has called for an extraordinary general meeting to remove three directors and appoint an independent chairman at Aim-listed Hirco.
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Allies & Morrison win at Foreign and Commonwealth Office building
Allies and Morrison has won a limited competition, run by Mace Group, to remodel the old Home Office courtyard of the Foreign and Commonwealth office main building in Whitehall, London.
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Consultation to begin on London’s Bishopsgate Goods Yard
Hackney and Tower Hamlets councils have begun a six-week consultation on proposed plans for the Bishopsgate Goods Yard site in East London.
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Creditor banks take control of Metrovacesa
Six Spanish banks have taken control of troubled real estate company Metrovacesa SA, swapping debt for company shares held by its indebted top holder, the company said Friday.
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US housing starts lowest for 50 years
Housing starts plunged to new lows in January as a large number of vacant homes, tight mortgage financing and a deepening recession created the worst housing market in a half-century.
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Australian property returns lowest in 15 years
A collapse in capital growth has seen returns in the Australian commercial property sector dive to their lowest level in 15 years.
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Goodman Group warns on profit and values
Goodman Group has warned the market to expect a drop in operating profit and almost $1.1bn worth of asset write-downs in its interim profit report next week.
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First-time buyers lead Melbourne auction
First time buyers were the stars of Melbourne's first big auction weekend for 2009, lured by falling interest rates and increased grants.
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China property in line for stimulus effort
Beijing will issue its tenth industry-specific stimulus plan for the property sector instead of the energy sector, a former vice-chairman of the Standing Committee of the National People's Congress said.
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HK sellers dig in on stimulus hopes
Sharp differences are emerging between buyers and sellers over the outlook for property in Hong Kong and the mainland, and the resulting big gap between their price expectations has applied the brakes to deals, say analysts.
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Dubai regulator teams up with investors
The Real Estate Regulatory Authority and a group of private property investors will combine to create an investor’s advisory panel that will provide feedback to the Government as it tries to resolve disputes.
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Dubai property recovery in 2011, says JLL
The Dubai property market is expected to show signs of recovery in 2011 after a period of stability, according to a research note from Jones Lang LaSalle, the global real estate services firm.
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Emaar shares slump 10% on US woes
Emaar, the Gulf’s largest listed property developer, lost almost 10% of its market value as investors reacted to the news that its US unit, John Laing Homes, is seeking Chapter 11 bankruptcy protection.
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Bail out call as East Europe loans hit by currency fall
The steep fall in the value of eastern European currencies could create problems for local banks, especially those with high levels of foreign currency exposure, warned a Polish banker.
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UAE aid for Dubai
The United Arab Emirates central bank has subscribed to half of a $20bn bond launched by struggling emirate Dubai to help ease its debt repayment schedule.
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Rock to launch mortgage sales drive
Northern Rock is to embark on a £14bn mortgage sales drive to resuscitate Britain’s sluggish housing market, fuelled by a hefty injection of fresh government funding for the state-owned lender to be announced today.
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RBS to hive off 'bad bank' and cut up to 20,000 jobs
The Royal Bank of Scotland is to unveil a restructuring in which 20,000 jobs could be lost and assets worth several hundred billion pounds – about a fifth of the business – put up for sale.