Global Real Estate News
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Keep abreast of the latest global real estate news across 7 continents that impacts on your business.
China: China Vanke to postpone trading resumption until restructuring plan approved
"China Vanke, the mainland’s largest home builder, said it would announce a restructuring plan in mid June and its shares would resume trading in Shenzhen by the end of the month, as it continues to battle a hostile takeover. In an investor meeting held Friday, Vanke senior vice president Tan Huajie said he expected the company would announce a restructuring “pre-scheme” by mid month and would then have to wait 10 working days for a reply from the Shenzhen Stock Exchange." ...
Read more.UAE: Dubai Properties sells first phase of Business Bay development in one day
"Dubai Properties has sold all units launched for sale in its Business Bay development Bellevue Towers on the first day. Dubai-based real estate master developer and manager launched sales on the two-tower development, located close to the waterfront in Business Bay, on Saturday." Read more on: www.arab...
Read more.China: PBOC deploys new system to assess macro-prudential risks in Shanghai’s property market
The People’s Bank of China is deploying a new system to assess macro-prudential risks in Shanghai’s property market, aiming to introduce the system nationwide after it is proven in Shanghai, according to a statement released by the central bank’s Shanghai headquarters on Friday afternoon. Read more on: www.scmp.c...
Read more.Lebanon: When will the crisis end in Lebanon?
Lebanon is in a state of economic paralysis. Crippled by political stalemate (the country has been without a president for two years), an inundation of refugees combined with a region-wide economic slowdown and a subsequent drop in remittances from its sizeable diaspora has hit a nation powerless to implement the reforms needed to change course. Read more on: ...
Read more.USA: UAE developer, architect ink deal for $200m US development
"A UAE-based developer and a Dubai architect firm have joined forces on a major riverfront development in Rochester, Minnesota, USA which could top $200m. Bloom International Realty has teamed up with AE7 Architecture to design and build a mix of residential, hospitality and commercial premises." Read more on: www.arabi...
Read more.UAE: Stability returns to Dubai property sales
Stability is showing up on the two counts that matter most in Dubai’s real estate — on property values and in the number of monthly transactions taking place of ready properties. And even more important, this is not limited to a handful of price-sensitive residential clusters. Read more on: gulfnews.com ...
Read more.South Africa: Century City Sellers Sitting in the Pound Seats
When it comes to city property, Century City in Cape Town is just about "as hot as it gets". This is according to Helga Clemo, Seeff’s licensee for the area, who says high demand and depleting stock levels has seen prices of residential property in the suburb spike by some 50%-plus in under three years. Read more on: ...
Read more.Azerbaijan: A project that awaits a Trump lift-off
"In the centre of Baku’s downtown, an unfinished five-star hotel sits locked and empty, a ghostly shell completely dark at night except for the glowing white letters at its elegant, sail-shaped peak: Trump Tower. Construction on the Trump International Hotel & Tower here in Azerbaijan’s capital stopped last year when the country’s oil-driven economy crashed amid plummeting oil prices. The local owner and developer, facing potentially huge losses, is scrambling to...
Read more.UK: Rents across Britain are rising three times faster than in London
"Room rents are rising fastest outside the capital, reveals a new report by flat and house sharing site Spareroom.co.uk. While London rents are now showing reduced growth of just under two per cent, averaging £747 a month, rentals across the rest of the UK are rising more than three times as fast, and even more in certain cities." Read more on: ...
Read more.Saudi Arabia: Saudi Real Estate, Starwood sign deal to build Riyadh hotels
"Saudi Real Estate Co has agreed with US firm Starwood Hotels and Resorts to build two hotels next to a district of Riyadh which the government plans to develop into an international business zone. Starwood will manage a five-star hotel under its Westin brand and a four-star hotel under its Element brand, Saudi Real Estate, which owns the land, said on Sunday without giving details of construction plans." Read more on: ...
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