02122016Fri
Last update: Fri, 12 Feb 2016 12am

Real Estate

Business & Finance - Real Estate

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 last year to achieve a healthier debt structure in South Korea by helping lenders restructure household borrowings. The central bank now has a 36.7 percent stake in the public company, up from 28.8 percent. Copyright Reuters, 2012 ...

Business & Finance - Real Estate

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 ...

Business & Finance - Real Estate

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 ...

Business & Finance - Real Estate

Philippine firm in $1.07bn JV with Okada MANILA: Philippine property firm Empire East on Tuesday confirmed it would invest more than $1 billion in a joint venture with Japanese gambling tycoon Kazuo Okada. Empire East said in a disclosure to the stock exchange that it would develop "at least 25 upscale residential towers" in Entertainment City, a gambling and resort complex on Manila Bay. The firm, owned by Filipino real estate tycoon Andrew Tan, would invest 45 billion pesos ($1.07 billion) and have a ...

Business & Finance - Real Estate

China to invest $5bn to renovate rural houses: Xinhua SHANGHAI: China will provide 31.87 billion yuan ($5 billion) in subsidies for the renovation of rural households this year, the state-run Xinhua News Agency said on Saturday. The pilot scheme will cover 4 million poor rural homes, the agency cited a joint statement by the Ministry of Housing and Urban-Rural Development, the Ministry of Finance and the National Development & Reform Commission. Each dilapidated house will be given 7,500 yuan on average, while 130,000 poverty-stricken rural households ...