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India 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 billion rupees in 2005 from state-run National Textile Corporation. It plans to use part of the sale proceeds to pare its debt of about 227 billion rupees. Shares in DLF, valued by the market at about $6.5 billion, ended up 3.5 percent at 217.70 rupees in a stable Mumbai market ahead of the news. ($1 = 55.3250 Indian rupees) Copyright Reuters, 2012 ...

Qatar 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. In May the company's chief executive ...
South Korea central bank injects $119mn into housing corp SEOUL: South Korea's central bank said on Tuesday it injected 135.0 billion won ($119 million) into Korea Housing Finance Corp (KFHC) to strengthen the government-run company's capital base. The move is part of local policymkers' plans to boost KFHC's ability to support banks' sale and securitisation of their loan assets, which will in turn encourage lenders to make long-term, fixed-rate loans. The central bank's decision had been planned long in advance as part of a government scheme ...
Simon Property second-quarter earnings rise  NEW YORK: Simon Property Group Inc , the largest US owner of malls and outlet centers, said Tuesday that second-quarter funds from operations (FFO) rose more than 18 percent, as occupancy, sales and rent at its properties increased. The world's largest real estate company's second-quarter FFO rose to $688.8 million, or $1.89 per share, from $583.0 million, or $1.65 per share, a year earlier. FFO is a real estate investment trust performance measure that usually excludes gains ...
China says home prices increase in more cities BEIJING: Home costs in more Chinese cities rose in June than in the previous month as recent interest rate cuts encouraged buying and stoked expectations of a rebound in prices, the government said Wednesday. New home prices in 25 out of the 70 Chinese cities tracked by the government increased in June from the previous month, the National Bureau of Statistics said in a statement, up from just six in May. The spread of price rises to ...

 



 
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Annual2012/13
Foreign Debt $60.9bn
Per Cap Income $1,368
GDP Growth 3.6%
Average CPI 7.5%
MonthlyFebruary
Trade Balance $-1.433 bln
Exports $2.167 bln
Imports $3.600 bln
WeeklyApril 14, 2014
Reserves $9.713 bln