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APRIL
14, 15 & 16 ,2007
NATIONAL NEWS
PLACE: NEW DELHI
UAE firms eye Indian real estate pie
With its booming economy, the Indian market is surely attracting
a lot of attention, especially from the United Arab Emirates
(UAE). At a major realty fair in the capital, eight UAE-based
property developers showcased their properties and also checked
investment options. Organized by Dubai-based Al Fajer Information
and Services, the Asian Real Estate Show (ARES 2007) was held
in India for the first time and witnessed a big participation,
especially from the UAE.
http://www.andhracafe.com/index.php?m=show&id=21777
PLACE: NEW DELHI
India will need funding in the infrastructure arena An asset
bubble, overheating, corrections and a lot more is being talked
about the real estate segment. Ajoy Veer Kapoor, managing
director, Saffron Asset Advisors, a real estate investment
fund management company with more than $250 million in funds,
responded to queries posed by Akash Joshi of The Financial
Express on the impact of current developments on real estate
fund.
http://www.financialexpress.com/fe_full_story.php?content_id=161217
PLACE: MUMBAI
Investment cycle looks sustainable As interest rates head
north and the stock market yo-yoes with uncertainty, doubts
are being raised about the sustainability of India’s
8-9% GDP growth. Is the investment cycle that sustains this
growth binge itself sustainable? The macro statistics show
that the share of investments in gross domestic product (GDP)
has grown from 23.8% at the start of this decade to over 32.1%
in 2005-06. Alongside, recent capital expenditure (capex)
data reveal that most new investment projects are in cement,
power, steel, oil and real estate.
http://www.dnaindia.com/report.asp?NewsID=1091056
PLACE: NEW DELHI
After the correction, there are segments where value can be
found We are bullish on real estate because we see certainty
in numbers in the sector for the next couple of years. Plus,
return on capital employed of realty players is quite high.
I would state here that the growth in listed realty stocks
should be higher than any other sector in the next couple
of years. Moreover, the FDI inflows that we are expecting
in FY08 would mostly be targeted at the real estate sector.
http://www.dnaindia.com/report.asp?NewsID=1091011
PLACE: NEW DELHI
Hindujas plan to invest in UAE realty
NRI businessmen promoted Hinduja Group on Monday announced
plans to invest over Rs 5,500 crore in health care in India
and property development business in UAE, where it is also
exploring setting up an automobile unit. On plans to invest
Rs 1,200 crore in real estate business in UAE, he said: "The
Company has already bought land in the Waterfront Project
of Al Nakheel" - a member of Dubai World (an investment
and holding company of government of Dubai ).The agreement
with Dubai World on real estate was inked by Gulf Oil Chairman
Sanjay G Hinduja.
http://www.hindustantimes.com/StoryPage/StoryPage.aspx?id=44615bff-4972-4487-bd94-
5afb813e62fb&ParentID=c71cc410-4113-4d79-b8a0-541a0beed604&
PLACE: NEW DELHI
Tackling asset bubble: What is the right option?
The height of ability, it is said, consists in knowing the
price of things. Consider for instance asset prices, the value
of stocks, bonds, currencies, commodities, real estate et
al. Of late, policymakers have been confronted by rather unusual
developments in asset prices, of hardening commodity prices,
exceptional strength in property prices, strong rally at the
bourses and long-term interest rates far below the trend rate.
http://economictimes.indiatimes.com/articleshow/1913488.cms
PLACE: NEW DELHI
Small is beautiful, but is it economical?
The SEZ experience in India so far has been riddled with controversy
of one kind after another. The earliest critics bemoaned that
Indian SEZs, with their size much smaller than those in China
, would never attain the economy of scale and hence, were
doomed. Detractors then focused their attention on issues
like tax breaks and diversion of investment to avail them.
Then came concerns about real estate scam-stemming from the
real or imagined poor business ethic of real estate players
in the country.
http://www.financialexpress.com/fe_full_story.php?content_id=161243
PLACE: NEW DELHI
Palmisano to log in by early May
India and other emerging economies are increasingly becoming
an important part of IBM’s global success,” Mr
Palmisano had said while addressing IBM employees and investment
analysts at the company’s Bangalore facility last year.
Mr Palmisano’s visit comes at a time when IBM has been
clinching some key wins in the domestic market. Recently,
IBM bagged a $29-million, 10-year contract from DLF to transform
and manage the real estate giant’s IT infrastructure.
http://economictimes.indiatimes.com/News/News_By_Industry/Infotech/Hardware
/Second_Coming_Palmisano_to_log_in_by_early_
May/articleshow/1913130.cms
PLACE: NEW DELHI
Mumbai as a domestic financial centre
A number of real estate and entertainment companies have already
accessed it. This is a potential threat to the investment
banking services and stock exchanges in Mumbai. The non-deliverable
forward USD:INR market in Singapore and Hong Kong is of course
well known and flourishing—given the size of deals that
are reportedly put through, one feels that, measured by the
impact cost, it is perhaps more liquid than the domestic forward
market .
http://www.businessstandard.com/common/storypage.php?leftnm=lmnu5&subLeft=&autono=281280&tab=r
PLACE: MUMBAI
Starwood to hold aloft a two-way plan
In a market place where every inch of space is a luxury, especially
in the key Indian metros and mini-metros, hotel companies
are putting in place processes and systems to ensure that
space is utilized to its optimum capacity. One such company
that recently unveiled its plans in this direction is the
Canadian hospitality major Starwood Hotels & Resorts Worldwide
Inc. Starwood’s W Hotels design team has not only localised
the aloft brand but also come out with options to counter
the real estate problem in the Indian market.
http://www.dnaindia.com/report.asp?NewsID=1091005
INTERNATIONAL NEWS
PLACE: RIYADH
Saudi Arab to hold Real Estate Forum
Prince Sultan, deputy premier and minister of Defense and
Aviation, will inaugurate the two-day Saudi International
Real Estate Conference in Riyadh on May 12. Abdulaziz Ibn
Mohamed Al-Ajlan, chairman of the National Real Estate Committee
of the Saudi Council of Chambers of Commerce and Industry
(SCCI), said at a press conference yesterday that it will
be a landmark event in the annals of the Kingdom since it
would guide the destiny of the country's real estate business.
http://www.menafn.com/qn_news_story_s.asp?StoryId=1093149951
PLACE: ISRAEL
Elran Real Estate to invest $20m in ThailandElran Real Estate
is expected to invest $20 in real estate projects in Thailand
. The company, owned by Gadi and Dori Dankner, is expanding
its activity to Southeast Asia for the first time. Company
officials announced Sunday that they were in advanced negotiations
to invest in two Thai companies which own two plots of land
on an area of 9 dunam in the resort town of Pattaya .
http://www.ynetnews.com/articles/0,7340,L-3388384,00.html
PLACE: UAE
Dubai-based real estate firm ventures into Mumbai’s
booming realty market
Sternon Group, Dubai-based real estate developers, builders
and promoters, has ventured into the booming property market
of Mumbai, India with Rs 1,200 Crore master development near
the proposed New Mumbai International Airport in Panvel on
the Mumbai-Pune Express Highway.
http://www.gowealthy.com/realestate/news/2221/detail.asp
PLACE: CANADA
Residents offer city advice on real estate
A city hall committee room turned into a real estate bazaar
after property owners said they could offer a better deal
on a site for a 40-bed homeless shelter and referral centre
in the Entertainment District."In real estate terms,
based on my experience, this is an unthinkably high price,"
Michael Emory, president of Allied Properties REIT, told the
committee examining a staff proposal to pay $4.6 million for
the former Fez Batik nightclub at 129 Peter St .
http://www.thestar.com/News/article/203432
PLACE: NEW JERSEY
Falling March Housing Starts is a major concern – real
estate far weaker than many can even imagine The real estate
market is in a thirty-year bear market. The signs are clear
after a fantastic blow off in the real estate bubble. Falling
March Housing Starts is a major concern. The real estate far
weaker than many can even imagine. The same investors whose
negative equities exceeded millions after banks foreclosed
their properties one after the other are again in the market
making new deals.
http://www.indiadaily.com/editorial/16470.asp
PLACE: STANFORD
Cards' 2nd Varsity 8+ Crew Defeats Stanford at Windermere
Real Estate Rowing Classic The University of Louisville rowing
team closed the 2007 Windermere Real Estate Rowing Classic
with a win over the host Stanford Cardinal in the 2nd Varsity
8+ race on Sunday morning at the Redwood Shores Lagoon. In
their first race of the day, the Cards' 2nd Varsity 8+ crew
covered the 2,000-meter course in a time of 7 minutes, 0.24
seconds to finish more than four seconds clear of Stanford
at 7:04.30.
http://www.cstv.com/sports/c-crew/stories/041507abj.html
PLACE: Mayville
Howard Hanna Real Estate sales exceed $5.5 billion
Defying national media reports of a disastrous real estate
market, Howard Hanna Real Estate Services recorded more than
$5.5 billion in residential real estate sales last year. “Naysayers
talked about and convinced the world of a real estate ‘bubble’
that was going to burst,” stated company chairman and
CEO Howard W. “Hoddy” Hanna III. “Contrary
to that dismal prediction, our real estate communities showed
growth, resilience and a strong demand for home ownership.”
http://www.observertoday.com/articles.asp?articleID=11520
PLACE: FLORIDA
Real estate slowdown is coming home across are Green, 39,
is a real estate appraiser. He used to live in Seminole Heights
in Tampa. He and his wife, Leah, have a 2-year-old son. Lester,
54, owns what could be the last dairy farm in Pasco County.
He's got 500 cows, a posse
of Labradors and a big, rambling house just off U.S. 41 in
northern Land O’Lake.
http://www.sptimes.com/2007/04/16/Hernando/Real_estate_slowdown_.shtml
PLACE: CHINA
Overseas capital contributes little to real estate in Beijing
Overseas funds contributed 5.6 percent to the total capital
inflow in the 344 overseas-funded real estate companies in
Beijing in 2006, according to a report from the Beijing Bureau
of Statistics. These firms, 204
of which were registered in Hong Kong, Macao and Taiwan, saw
an overall influx of 68.75 billion yuan (8.8 billion U.S.
dollars) last year, including overseas capital of 3.13 billion
yuan.
http://www.chinadaily.com.cn/bizchina/2007-04/16/content_851201.htm
PLACE : HUNGARY
Investment market most active at the moment
The commercial real estate market is generally broken down
into the subcategories office, investment, logistics and retail.
Residential real estate is, for several reasons, treated as
a separate market, and accounts for little of the business
of the companies listed above. The investment market is the
most dynamic in Budapest at the moment,” said Chatfield.
In recent years, investors could be heard complaining at international
real estate conventions that there is a lack of decent buildings
to buy in Hungary .
http://www.budapesttimes.hu/?do=heading&id=18&issue=136
PLACE: UAE
ETA Star launches mixed-use real estate development at Business
Bay, Dubai
ETA Star Property Developers LLC, the real estate development
arm of the ETA-Ascon Group, has unveiled Dh1.5 billion Starhill
Towers & Gallery located at Business Bay, Dubai comprising
state-of-the-art freehold offices, a 5-star hotel and a luxury
shopping mall. The famed Starhill Gallery, owned by the multi-billion
dollar conglomerate YTL Corporation Malaysia and a world-class
shopping destination that has redefined the experience of
luxury shopping, is also the part of the realty project.
http://www.gowealthy.com/realestate/news/2222/detail.asp
PLACE: USA
Real Estate Mogul Jemal to Be Sentenced Today
Today, the unorthodox real estate mogul will find out whether
the verdict was truly worth celebrating.U.S. District Judge
Ricardo M. Urbina is set to sentence the 64-year-old Jemal
on a wire fraud charge, the one count he was convicted of.
The charge carries up to 20 years in prison, but the suggested
federal sentencing guidelines are much lower.
http://www.washingtonpost.com/wpdyn/content/article/2007/04/15/AR2007041500695.html?hpid=sec-business
PLACE: FLORENCE
Mike Tyson's home
Kris LaCroix, a real estate agent with the Equitable Real
Estate Co., said a pigeon coop was removed before she listed
the house.
''It's very well-built and sits on a gorgeous lot,'' LaCroix
said, adding that it was ''a pleasure'' working with Tyson.She
said the home was initially listed at $2.45 million. It was
on the market for more than three months, according to the
Arizona Regional Multiple Listing Service.Tyson is facing
an August trial in Maricopa County on felony drug possession
charges and two misdemeanor counts of driving under the influence
of drugs. He was arrested Dec. 29 in Scottsdale.
http://www.miamiherald.com/358/story/75258.html
PLACE: FLORIDA
Realtor says Save Our Homes cap chokes life out of Florida
real estate
Steven L. DuToit, head of Team DuToit at Keller-Williams Sarasota's
Main Street office, has a radical idea for a Realtor.He wants
to junk a holy cow of Florida real estate finance: the 3 percent
annual cap on homestead property tax increases.
http://www.heraldtribune.com/apps/pbcs.dll/article?AID=/20070416/BUSINESS/704160526
PLACE: BALTIMORE
Md. Real Estate Is Going Up On The Auction Block
With the housing market constantly changing, there's another
option for home buyers and sellers. It's called a residential
auction.The residential real estate market has slowed its
pace throughout the country. As Jessica Kartalija reports,
in the Baltimore metropolitan area houses are spending more
time on the market than last year--anywhere from 41 percent
to 104 percent longer.
http://wjz.com/local/local_story_105131659.html
PLACE: HACKENSACK, NEW JERSEY
Choosing a real estate agent
When Mark and JoAnn Ciano sold their Hasbrouck Heights , N.J.,
ranch, they listed it with Ivana Crecco — a real estate
agent they chose largely by instinct.” She always made
us feel like she was there to help us,” Mark Ciano said.
“From day one, we felt we could trust Ivana.”Crecco,
of Camelot Realty in Hackensack , suggested a realistic asking
price and seemed to care about the couple, not just her commission;
Ciano said.
http://www.kansascity.com/125/story/70363.html
PLACE: UAE
Will supply and demand burst the Dubai real estate bubble?
The arrival of a Korean developer and the promotion of rotating
towers are surely separate symptoms of a bubble in Dubai real
estate. Foreign firms are usually the last to arrive, and
outlandish proposals are only taken seriously during the most
bullish of times. But supply and demand is the issue of greater
concern.
http://www.ameinfo.com/116727.html
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