Hines, one of the world’s largest real-estate groups in terms of assets, is preparing to spend $1.6 billion on buildings in the U.K., doubling its assets in the country in an effort to diversify away from riskier acquisitions.
London looks likely to experience a drought of new housing over the next few years, as construction of homes amid fears of renewed recession and a dearth of mortgage finance, a report from property consultant suggests.
A fight is brewing between two of China’s biggest property developers as they wrestle for control of a commercial real-estate site in the heart of Shanghai.
Pundits once mocked Shanghai’s Pudong district, a purpose-built version of Manhattan, as overdesigned and underoccupied. Today, as worries of a Chinese property crash are back in force, Pudong is an unlikely bright spot.
Link REIT, the largest Hong Kong-listed property trust by market cap, said distributable income for its fiscal first half increased 21% year-to-year earlier because of rising rental income.
China’s government must resolutely carry out its property-tightening measures with the aim of returning prices to “reasonable levels,” Premier Wen Jiabao said.
E-House (China) Holdings has offered to acquire China Real Estate Information Corp. in a cash-and-stock deal that values China Real Estate at $897.3 million.
New World Development proposes to raise as much as US$1.59 billion from a rights issue in Hong Kong, in a move aimed at strengthening its capital base.
The Beijing branches of China Construction Bank Corp., the country’s largest mortgage lender by assets, have raised the mortgage rates for first-time home buyers, the state-run Xinhua news agency reported Sunday.
Foshan in Guangdong province became China’s first city to say it’s relaxing its curbs on the property market amid mounting concerns that the real-estate sector is in trouble.
Sweden’s property market is in robust health. At the country’s biggest-ever property auction, which got under way in Stockholm this week, 25 properties were sold for a total of $137 million.
The Hong Kong government sold a residential site in the New Territories to blue-chip developer Sun Hung Kai Properties for $400 million in a land auction Tuesday.
Private-equity giant Lone Star Funds and banks Wells Fargo and J.P. Morgan Chase are the winning bidders for Anglo Irish Bank Corp.’s $9.5 billion portfolio of U.S. commercial real-estate loans.
Europe’s commercial-property market, which for the past two years has been slowly recovering from the depths of the financial crisis, is starting to weaken again due to fears of a global recession.