All Property Week articles in 26 December 2008 – Page 6
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Chinese government land sales lowest since 2005
The government has recorded the worst land sales performance since 2005 as a result of Hong Kong's faltering economy and weak demand for housing, market watchers said.
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China house builder's US$6b IPO stalled
The securities regulator will not allow China State Construction Engineering Corp, the country's biggest home builder, to proceed with plans for a large initial public offering in the near future given the weak market conditions, the Shanghai Securities News reported.
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UK banks face £70bn property black hole
Britain's banks face up to £70bn of losses on commercial property loans, enough to force some of them into a further round of taxpayer bail-outs.
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House prices 'to fall another 12%'
House prices will fall by a further 12% next year, according to Britain's longest-established property website, adding to the gloom for the nation's struggling homeowners.
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Analysts say 10% of shops could close
One in 10 high street shops will be empty by the end of next month as the retail collapse gathers pace, experts said yesterday.
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Phones billionaire eyes property opportunities
Billionaire John Caudwell, who founded the Phones4u retail chain, is piling into Britain’s beleaguered commercial property market in a sign that some investors believe that prices may be bottoming out.
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City boost as HSBC stays put
HSBC, EUROPE’S largest bank by market value, has decided against relocating its headquarters following a review lasting several months, in a rare boost for the battle-weary City of London.
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Adams applies for administration
Adams, the children’s wear chain, plans to appoint PwC as administrator as soon as today after it became the latest retailer to fall victim to the consumer downturn.
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CBRE locates Santa's optimum HQ...in Delhi
According to the EMEA Research and Consulting team at CB Richard Ellis, the best spot for Santa’s global headquarters is Delhi in India.
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Pirelli and Intesa sell facilities management business
Italian property company Pirelli Real Estate and bank Intesa Sanpaolo have sold their 50:50 facility management joint venture, Pirelli RE Integrated Facility Management.
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White Estates leads €86.5m Amsterdam buy
A consortium led by White Estate Investments has bought an office leased to the Dutch tax authorities in Amsterdam for €86.5m (£82.2m) from Eurocommercial Properties.
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HSBC moves Irish HQ to Grand Canal Square
HSBC Ireland has moved its Irish corporate headquarters to the LOM designed 1 Grand Canal Square in Dublin’s Docklands.
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Bluewater has busiest day for five years
Bluewater, the Kent shopping centre, saw record footfall levels for its final weekend of the pre-Christmas trading period.
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ProLogis European Properties ‘disappointed’ with Moody’s downgrade
Gordon Keiser, chief executive of Prologis European Properties (PEPR), has responded with ‘disappointment’ after Moody’s downgraded its corporate credit rating.
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ProLogis to sell mainland China operations
ProLogis, one of the world’s largest warehouse owners and developers, will sell its operations in the mainland and its interest in its Japanese property funds for US$1.3bn to raise cash to pay down debt, the company said on Tuesday.
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JR Tokai plans Nagoya skyscraper
NAGOYA (Kyodo) Central Japan Railway Co. (JR Tokai) is planning to build the tallest skyscraper in the Nagoya area and the third tallest in Japan.
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US distressed loans seen as opportunity for some
When the New York developer Harry B. Macklowe acquired the Drake Hotel almost three years ago and began buying up surrounding properties, market specialists expected him to include the site in a mammoth luxury office development.
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GE sells Wizard to Aussie Home Loans
GE Money Australia and New Zealand will sell its Wizard Home Loans brand and franchise network in Australia to Aussie Home Loans for an undisclosed amount.
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Aldar committed to key project
With access to a Dh30bn ($8.1bn) war chest, Abu Dhabi’s Aldar Properties said it is committed to delivering key projects over the next few years, even as it reviews future developments with an eye toward market conditions.
