All Property Week articles in 22 May 2009 – Page 3
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Unitech sells hotels to cut debt
Unitech has sold a hotel in Gurgaon for Rs 200 crore and is close to selling another hospitality project by June-end for a similar amount, as part of its exercise to raise funds for reducing debt.
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Unitech admits affordable housing error
Undeterred by the body blow it received due to the slowdown, Unitech on Friday announced plans to construct 20,000 affordable houses at a cost of Rs 1,700 crore to become India's top realty company within a year.
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German retailer hurts Whitehall
The possible insolvency of German department-store operator Arcandor AG could have an impact on a property-investment consortium led by the Whitehall Funds, which owns a 51% stake in a portfolio that includes 85 of the retailer's Karstadt stores as well as other properties.
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Foreign cash boost HK property and shares
A wave of money flooding into Hong Kong from mainland China and the rest of the world has propelled property and stock prices even as the economy falters.
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GPT offloads Perth shopping centre
Property investor GPT Group has sold the Floreat Forum shopping centre in Perth's western suburbs to Australasian Property Investments for $100m.
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China industrial sites eyed for domestic distribution nodes
Demand for industrial property on the mainland is now being driven by foreign investors aiming to serve the domestic market rather than export markets, according to analysts.
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Shanghai's office markets sees locals to the fore
Shanghai's languishing office leasing market is looking to local companies for a boost as foreign financial institutions remain on the sidelines waiting for clear signs that the global economic downturn is coming to an end.
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Developer offers to meet Tameer investors
Investors in Tameer Towers have been reassured the project is moving forward after developer Tameer Holding appointed new contractors for its flagship development in Abu Dhabi.
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UAE property auction flops
None of the four lots in the UAE's first public property auction made their reserve price.
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Aldar puts waterfront scheme under review
Al Seef, a waterfront community planned at Al Raha Beach in Abu Dhabi, is under review as the developer, Aldar Properties, adapts the project to new market conditions.
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Existing US Homes sales up in April
Home resales in the US probably rose in April as foreclosure auctions and improved affordability spurred bargain hunters, economists said before a report today.
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Soho China to issues HK$2.8bn bonds
Soho China the biggest real estate developer in Beijing’s central business district, plans to raise HK$2.8bn ($360m) from a sale of five-year convertible bonds to at least six investors.
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Argentina uses social security fund to boost mortgage market
Argentine President Cristina Fernandez de Kirchner’s move to ease access to mortgages and combat the possibility of recession for the first time since 2002, increases the country’s dependence on nationalized pension funds to drive economic growth.
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Banks 'exploit' mortgage holders
Banks have been accused of exploiting mortgage customers after their profit margins increased to the highest level since the beginning of the credit crisis.
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Prince to win over Chelsea
The Prince of Wales is close to victory in the battle over a £1bn flats development in a historic part of London but there are warnings that his intervention could threaten 5,000 jobs.
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Services sector outlook hints at recession easing
Hopes that the UK may be past the very worst of the recession have been supported by news that activity in the services sector, which dominates Britain’s economy, is starting to stabilise.
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Cap & Reg to raise £50m X Leisure
Capital & Regional, the coinvesting property asset manager, is to raise £50m for a fund that owns indoor snow slopes and leisure parks through an open offer to unit holders.
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McDonald's to expand European coffee shop chain
McDonald’s is aiming to overtake Starbucks as Europe’s biggest coffee chain, with plans to open several hundred McCafé stores selling pastries and cappuccinos this year.
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Infrastructure upgrades at 11 year low
Maintenance and upgrade work on infrastructure has fallen to its lowest level in more than a decade, confounding hopes that public spending could help the construction sector ride out the recession.
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Finance professionals heading offshore
City finance professionals are so worried about the future that nearly 30% are planning to leave London, according to a survey by eFinancialCareers, a jobs website.
