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Hong Kong apartment fetches record $61mn 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 Journal and Sing Tao Daily said. The whopping price for the unit, which takes up the entire eighth floor of the 12-storey building, is believed to be Asia's most expensive apartment and the world's second most costly after London's One Hyde Park, Sing Dao Daily said. The building was designed by the Pritzker Prize-winning architect Frank Gehry. Developer Swire Properties declined to confirm the deal. "We have no information to share at this point," spokeswoman May Lam-Kobayashi told AFP. She added however that tenant recently leased another unit at the property for HK$850,000 a month. Local media ...

China ponders property controls: Xinhua 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 in 50 out of the 70 Chinese cities tracked by the government increased in July from June, latest ...
More Chinese cities record new home price increases  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. China has been taking steps to tighten its housing market for ...
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 ...
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 ...


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ICT 2014

Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
Trade Balance $-1.703 bln
Exports $2.156 bln
Imports $3.859 bln
WeeklyFebruary 26, 2015
Reserves $15.944 bln