02072016Sun
Last update: Sun, 07 Feb 2016 03am

Real Estate

Business & Finance - Real Estate

China's Kaisa to unveil offshore debt restructuring plan HONG KONG: China property developer Kaisa Group Ltd will hold a conference call for its offshore bondholders next week to discuss a proposed restructuring plan, a notice on the company's website said.The call, to be held on Monday morning at 1000 local time(0200 GMT), will provide an overview of the struggling homebuilder's current situation, the proposed acquisition of the company by Sunac China, and its restructuring plan.Kaisa has been mired in crisis since late last year after the local government in its home base of Shenzhen blocked sales at some of its projects in the city and the subsequent departure of a string of senior executives.Its restructuring is being closely watched by offshore investors in Chinese corporate debt as it will be the first property developer to go through the process, providing a guide as to how foreign creditors might be treated in similar future situations.Analysts said they expect the ...

Business & Finance - Real Estate

China grants 20 more Internet brokerage licences SHANGHAI: China has granted online brokerage licences to 20 firms in a fresh round of approvals, showing the growing interest in the sector as Internet finance takes off in the country and greater retail interest boosts brokers' earnings.Among the brokerages that received the new licences were Soochow Securities Co Ltd, Shanxi Securities Co Ltd and China International Capital Corp, according to a list published on the Securities Association of China's website.The government made its first ...

Business & Finance - Real Estate

Dubai's Damac Properties proposes 10pc bonus share issue DUBAI: Dubai's Damac Properties has proposed a 10 percent bonus share issue equivalent to 500 million dirhams ($136.1 million), the developer said in a bourse statement on Monday.Earlier this month, Damac reported a fourth-quarter net profit of $249.8 million, up 11 percent from the year-ago period.DAMAC's 2014 full-year profit was $937 million, up from $641.5 million in 2013, the company said in a filing to London's bourse.Copyright Reuters, 2015 ...

Business & Finance - Real Estate

Shares in Realia surge after FCC cancels sale plans MADRID: Shares in property firm Realia surged as much as 19 percent on Friday after core shareholder, Spanish builder FCC, said late on Thursday it would not sell its 37 percent stake in the firm.Realia is majority owned by FCC and bailed-out lender Bankia. It has been on the market for a year and is one of the few Spanish property groups to have survived the country's 2008 real estate crash.Copyright Reuters, 2015 ...

Business & Finance - Real Estate

China aims for target of six million public homes in 2014 BEIJING: China aims to start building at least 6 million units of public housing next year, state media said on Saturday, reinforcing a government effort to supply more low-cost homes to counter record property prices.But next year's target is lower than the 2013 objective, even though China built more public homes this year than it had planned, Xinhua said, citing the Ministry of Housing and Urban-Rural Development.The country began building 6.7 million units of public ...