All Property Week articles in 20 March 2009 – Page 3
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Nakheel investors demand action
More than 350 investors in Nakheel’s Palm Jebel Ali have signed a petition urging the developer to reschedule their payment plans because their villas will be ready four years late.
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Dubai World takes MGM to court over Vegas scheme
Infinity World, a subsidiary of Dubai World, says it has taken legal action against MGM Mirage after the company allegedly committed a 'breach' of its joint venture agreement to build a major project on the Las Vegas strip.
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Mitsubishi to cut 2,000 jobs and shut 50 branches
Mitsubishi UFJ Financial Group, Japan’s biggest bank, is cutting 2,000 jobs at its head office and closing 50 branches amid a deepening economic crisis in its home market.
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First-time buyers boost US house sales
The sales of existing US homes rebounded from a 12-year low in February as distressed sales brought first-time buyers into the market in search of bargains.
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Deflation back in UK after 50 years
Deflation officially returned to Britain today after an absence of nearly 50 years, when government data is expected to show that the retail prices index – the country's broadest measure of inflation – has turned negative.
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US plan fuels huge rally
Stocks soared yesterday after Treasury Secretary Tim Geithner detailed his proposals for public-private partnerships to deal with toxic assets in the financial system and prominent investors vowed to take part in the programme.
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Hammerson rights issue backed
Hammerson said that it had enjoyed overwhelming support for its recent £584m rights issue. The company, whose property assets include Birmingham’s Bullring shopping centre, said that investors owning 98.6% of its existing shares had agreed to take up their rights.
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Edinburgh developer in administration
Mountgrange Capital, the property company planning Caltongate, a controversial £300m development beside Waverley station in the heart of Edinburgh’s old town, has gone into administration.
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MPs seek help for struggling Northern airports
A delegation of northern MPs will lobby the government today to support regional airports amid fears that losing links to London could damage their recession-hit economies further.
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Whelan claims JJB deal is imminent
Dave Whelan is hoping to announce today that he is the owner once more of a slice of the JJB empire, having spent yesterday hammering out a deal to buy the retailer’s health clubs ahead of a midnight deadline.
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Government set to save Scots building society
Pressure is growing on the Government to rescue Dunfermline Building Society before mounting fears about the ailing mutual’s financial health lead to a run on the society by its 250,000 depositors.
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Offshore fund rescues Allied Carpets
Allied Carpets, the UK's second-largest flooring retailer, has been acquired by an offshore investment fund, for an undisclosed sum, in a deal that saves thousands of British jobs.
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RICS freezes staff salaries and begins redundancy consultation
The RICS has frozen salaries for all staff at every level in the organisation for the next financial year as well as proposing 18 roles be made redundant.
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OnlineLend Lease moves closer to Elephant & Castle development agreement
Lend Lease and Southwark Council are getting closer to confirming a development agreement for a major scheme in Elephant & Castle after reaching agreement with Transport for London over funding of key infrastructure.
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OnlineKnight Frank and Citi Private Bank's Wealth Report 2009
The 2009 edition of The Wealth Report, the third such collaboration between Knight Frank and Citi Private Bank, indicates that luxury house prices have fallen around the world, but super-rich appetite for property remains undimmed.
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Private family buys Birmingham shopping centre
A private investment family has bought the Sheldon Shopping Centre in Birmingham for £8.25m.
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Stanhope wins the battle for Middlesex Hospital site
Stanhope has been chosen as the development partner for Kaupthing Singer Friedlander’s former Middlesex hospital site in London’s West End.
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Mountgrange Scotland dilemma
Entrepreneurs Martin Myers and Manish Chande are considering their options after Bank of Scotland withdrew its support for two major development projects in Scotland.
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OnlineListen to the new podcast for FREE
This month BBC Dragon Theo Paphitis and BGC's David Buik join James Max in the Property Week Podcast studio and we catch up with London Mayor Boris Johnson at MIPIM.
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OnlinePublic sector blasted for 'wasting' taxpayers' money at MIPIM
Local authorities who rented yachts, erected marquees and took exhibition space on the French Riviera in a bid to promote their wares to property investors have received a 'resounding thumbs down' from Property Week readers.
