Dubai's Emaar signs $500mn Turkey real estate loan
2012-12-19 12:27:01 GMT : (Business & Finance/Real Estate)
DUBAI: Emaar Properties, Dubai's largest listed developer, has signed a $500 million loan to help finance a real estate project in Turkey, a statement from the company said on Wednesday.
The facility, which runs for seven years, was provided by a consortium of banks including Emirates NBD, HSBC and Standard Chartered.
The Turkish development, called Emaar Square, will host resid...
China property market revives despite controls
2012-12-19 04:22:17 GMT : (Business & Finance/Real Estate)
SHANGHAI: After waiting for a year, accountant Qi Youdi bought a new home in the eastern Chinese city of Hangzhou, among the millions of buyers bringing life back to the country's moribund property market.
For the past two years, China has sought to control residential property prices with measures including restrictions on second and third home purchases, higher minimum down payments, a...
China says more cities record home price rises
2012-12-18 05:28:50 GMT : (Business & Finance/Real Estate)
SHANGHAI: The cost of new homes increased in more Chinese cities in November than in the previous month, official figures showed Tuesday, despite efforts from the government to keep the market in check.
Prices in 53 out of 70 cities tracked by the government rose month-on-month, the National Bureau of Statistics said in a statement, up from 35 cities in October and 31 cities in September...
China says home prices rose in October
2012-11-18 05:42:06 GMT : (Business & Finance/Real Estate)
BEIJING: More Chinese cities reported rises in home prices in October than in September, data showed Sunday, the first gain in three months as the government works to keep the property market in check.
Prices in 35 out of 70 cities tracked by the government rose month-on-month, the National Bureau of Statistics said in a statement, up from 31 cities in September, and the first increase s...
US existing-home sales slip in September
2012-10-19 14:58:29 GMT : (Business & Finance/Real Estate)
WASHINGTON: Sales of existing homes in the United States slipped in September after hitting their fastest pace in more than two years in August, an industry group said Friday.
Existing-home sales fell 1.7 percent last month from August to an annual rate of 4.75 million, the National Association of Realtors (NAR) said.
But the September number was still 11.0 percent higher than t...
China says housing market slowed in September
2012-10-18 05:17:15 GMT : (Business & Finance/Real Estate)
SHANGHAI: Fewer Chinese cities reported rises in home prices in September than the previous month, official data showed Thursday, as the government stood by its stance of controlling property speculation.
Prices in 31 out of 70 cities tracked by the government rose month-on-month, the National Bureau of Statistics said in a statement, down from 36 cities in August.
Prices of new...
Li Ka-shing-backed firm to launch Singapore's first yuan IPO
2012-10-10 11:49:04 GMT : (Business & Finance/Real Estate)
SINGAPORE: A real estate investment trust backed by Hong Kong tycoon Li Ka-shing announced on Wednesday it hopes to raise around $800 million in a yuan-denominated initial public offering in Singapore.
The offer by Dynasty REIT will be the first yuan-denominated flotation in the affluent city-state and the second outside mainland China.
Dynasty REIT, which is sponsored by real e...
China home prices rise for 4th month in September: survey
2012-10-09 05:02:08 GMT : (Business & Finance/Real Estate)
BEIJING: Average home prices in China's 100 big cities edged up for a fourth straight month in September, a private survey showed, reinforcing signs of a mild recovery as the government seeks to boost growth while avoiding a real estate bubble.
Average home prices rose 0.17 percent to 8,753 yuan ($1,400)per square metre in September, moderating from August's month-on-month increase of 0....
UK house prices fall unexpectedly in Sept
2012-10-04 07:59:13 GMT : (Business & Finance/Real Estate)
LONDON: British house prices fell unexpectedly in September, figures from mortgage lender Halifax showed on Thursday, as the weak economy weighed on demand.
British house prices dropped 0.4 percent in September after a bigger than initially estimated 0.5 percent fall in August, leaving prices in the third quarter of 2012 1.2 percent lower than a year earlier.
Economists had expected house p...
Australia new homes sales hit 15-year low
2012-10-03 04:36:30 GMT : (Business & Finance/Real Estate)
SYDNEY: Sales of new homes in Australia fell to a 15-year low in August, an industry survey showed on Wednesday, in a sign more cuts in interest rates might be needed to revive the long-suffering housing sector.
The Housing Industry Association (HIA) said its survey of large builders showed sales of new homes dropped 5.3 percent in August, compared to July. Sales of detached homes fell 5...
Qatari property firm Barwa eyeing London
2012-10-02 11:49:55 GMT : (Business & Finance/Real Estate)
DUBAI: Qatar's Barwa Real Estate is looking to invest in the London property market before the end of the year, the company's deputy group chief executive said on Tuesday.
"We're looking for a few investments in Europe, mainly London. We're interested in hotels, business towers and hope to finalise an investment before year end," Ahmad Abdulla al- Abdulla told Reuters on the sidelines of...
South Korea housing prices fall in Sept, third month running
2012-10-02 04:53:10 GMT : (Business & Finance/Real Estate)
SEOUL: Housing prices across South Korea fell 0.2 percent in September from August, private-sector data showed on Tuesday, marking their third consecutive monthly decline and underscoring a stubbornly weak consumer sentiment.
Housing prices fell by 0.1 percent each in August and July on a month-on-month basis and it was the longest losing streak seen since early 2009, the data from Kookm...
China will not ease grip on property market
2012-09-23 06:37:22 GMT : (Business & Finance/Real Estate)
BEIJING: China plans to stick to its tight property sector policies and a nationwide rebound in home prices remains unlikely, a senior official at the housing ministry said in remarks published by state media on Sunday.
The comments underscore Beijing's determination to keep a lid on rising home prices, a source of social discontent, especially in the run-up to a once-a-decade leadership...
China August home prices rise on month, fall on year
2012-09-18 04:01:31 GMT : (Business & Finance/Real Estate)
BEIJING: China's home prices rose 0.1 percent in August from July, to show a modest increase for a second consecutive month and signal a gentle recovery in the property market as the government seeks to spur economic growth.
Real estate, which directly impacts around 40 other business sectors in China, is a key driver in the world's second largest economy, which is currently going throug...
Emaar to build five-star Dubai hotel in first post-crisis venture
2012-09-16 09:02:37 GMT : (Business & Finance/Real Estate)
DUBAI: Emaar Properties, developer of the world's tallest tower in Dubai, plans to build a new hotel in the city's high-end Downtown area, its first major hotel project since the emirate's property crisis erupted in 2009.
Emaar, which had skirted clear of its home market in the aftermath of the debt crisis, said the construction of the five-star hotel will be financed mainly through pre-sales ...
Hong Kong apartment fetches record $61mn
2012-08-24 07:31:00 GMT : (Business & Finance/Real Estate)
HONG KONG: A luxury apartment in Hong Kong has sold for a record HK$470 million ($61 million), making it the priciest condominium in the Chinese city and possibly in Asia, reports said Friday.
An unidentified buyer paid the HK$75,806 ($9,773) per-square-foot price for the 6,200-square-feet (576-square-metre) unit at Opus Hong Kong in the upmarket Peak residential area, Hong Kong Economic Journ...
China ponders property controls: Xinhua
2012-08-24 05:55:50 GMT : (Business & Finance/Real Estate)
BEIJING: China is studying new measures to beef up controls on the property sector, state media said, amid signs of rebounding housing prices.
The housing ministry is "closely monitoring" changes in the property market and "is studying with relevant departments further policies to strengthen market control", Xinhua news agency said late Thursday, citing an unnamed official.
New home prices ...
More Chinese cities record new home price increases
2012-08-18 06:51:09 GMT : (Business & Finance/Real Estate)
BEIJING: New home prices in more Chinese cities rose in July than in the previous month, the government said Saturday, amid cautious optimism the country's property market may be bottoming out.
Prices in 50 out of the 70 Chinese cities tracked by the government increased in July from June, the National Bureau of Statistics said in a statement. That represented a doubling from 25 in June.
India's Lodha to buy DLF's Mumbai plot for $488mn
2012-08-13 12:07:49 GMT : (Business & Finance/Real Estate)
MUMBAI: India's Lodha Developers said it has agreed to buy DLF's 17-acre plot of land in Mumbai for 27 billion rupees ($488 million).
The Mumbai-based developer is planning to build about 5 million square feet of homes and offices on the site in central Mumbai for which it has secured planning approval, it said on Monday.
DLF, India's biggest property developer, bought the plot for about 7 ...
Qatar's Barwa Real Estate H1 profit slumps 21.1pc
2012-08-05 09:57:18 GMT : (Business & Finance/Real Estate)
DUBAI: Qatar's Barwa Real Estate, the Gulf Arab state's largest listed property developer, posted a 21.1 percent drop in its net profit for the first half of 2012.
Barwa made a net profit of 593.6 million riyals ($163 million) for the opening six months of this year, versus 752.5 million riyals in the same period of 2011, it said in a bourse filing on Sunday. It did not provide other figures.