All Property Week articles in 20 March 2009 – Page 4
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Mumbai resi prices fall by up to 40%
Premium residential property prices built by major developers in Mumbai, till now relatively shielded from the recession, have fallen by 25-40%.
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Indian government okays foreign investment in property firm
The government on Wednesday allowed over Rs 2,000 crore foreign investment in Orange Realty, which will consequently become a foreign-owned Indian company.
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Mall owner pleads with bondholders
General Growth Properties Inc., struggling to avoid a bankruptcy filing, remained locked in talks Sunday with bondholders it was trying to persuade to accept reduced terms.
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Mortgage executive set for Federal Housing Administration top spot
The Obama administration is expected to appoint David Stevens, a veteran mortgage executive, as head of the Federal Housing Administration at a time when that agency is taking a critical role in the ailing U.S. home mortgage market, according to people familiar with the plan.
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California shows signs of life
California's mortgage crisis hit Mountain House, a master-planned community particularly hard last year, and eventually 90% of mortgage holders here owed more than their homes were worth.
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Shimao raises property sales target 13%
Mainland developer Shimao Property Holdings expects to record sales of 17 billion yuan (HK$19.3bn) this year, up 13% from its previous target, saying it believes the domestic real estate market has bottomed out and buyers are returning to the market for discounted prices.
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Kuwaiti firm explores subsidiary merger as slowdown bites
Al Mazaya Holding, a Kuwait-based property company, said today it had started exploring the possibility of merging a subsidiary back into the main company as the regional property market is slowed by the global financial crisis.
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City take-up hits 20 year low
Take-up of new offices in the City of London has fallen to its lowest level for more than 20 years as the slowdown in the economy has reined in financial services businesses from expanding and moving to new buildings.
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Rent day piles pressure on retailers
Struggling retailers face a multimillion-pound rental payment on Wednesday that could lead to a fresh wave of administrations in the sector unless they are able to secure last-minute rescue deals.
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Candys caught in a £6.5m sting
Nick and Christian Candy were the victims of a property swindle by a gang now aged between 62 and 71.
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VAT on empty homes urged
VAT should be slashed on long-term empty homes to bring hundreds of thousands of vacant properties back into use, the Local Government Association will say today.
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London homes no longer most expensive
London has been pushed off its top spot by Monaco as the most expensive place to buy residential property, with the capital and the home counties suffering some of the biggest price falls in the world.
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Ashley moves to block JJB sale
Mike Ashley, owner of retailer Sports Direct, is trying to scupper the sale of rival JJB’s gym-chain division – a move that could tip ailing JJB into administration in days, threatening 11,800 jobs.
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Morgan regains control of Redrow
Steve Morgan, the founder of Redrow has regained power at the company through an audacious boardroom coup.
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'Scots Northern Rock' to be bailed out
An urgent rescue of Scotland’s largest and oldest building society appears imminent after Westminster and Holyrood ministers vowed to save yet another failing financial institution.
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OnlineVincent Tchenguiz to buy major City of London office building
Vincent Tchenguiz is under offer to buy the Standard Chartered building on Basinghall Avenue in the City of London for £200m in his first UK commercial property deal since the middle of last year.
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Joe Lewis bid deemed 'acceptable' by Bulgarian Property Developments
Entrepreneur Joe Lewis is likely to success in his bid to take over Bulgarian Property Developments after the board recommended shareholders accept the offer.
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Oxford GB secures consent for Leeds hotel
Developer Oxford GB has secured planning permission to develop a 244-bed hotel development in Leeds city centre.
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Howard Holdings' Weymouth scheme abandoned
Weymouth’s plans for a wide ranging regeneration of its 2012 Olympic site have been dealt a blow after a vehicle set up to deliver a £135m pavilion and ferry project was wound down yesterday.
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Terrace Hill secures planning consent for Durham and Cornwall schemes
Terrace Hill has secured planning permission for two major retail and leisure schemes in Durham and Cornwall.
