18th
April, 2007
NATIONAL NEWS
PLACE: MUMBAI
RBI may clamp down on ECBs for real estate
The Reserve Bank of India (RBI) is seriously considering the
option of clamping down on overseas financing for real estate
in a bid to contain inflation. The clampdown will be part
of a package from the central bank to make end-use norms for
external commercial borrowing (ECB) funds more stringent for
various sectors.
http://inhome.rediff.com/money/2007/apr/18ecb.htm
PLACE: MUMBAI
Real Estate prices may see corrections
The credit rating agency ICRA believes that the real estate
prices might see correction in some pockets. These pockets
are cities which do not enough economic activity to support
the price boom there. Vikas Agarwal, general manager, head-real
estate & construction, ICRA Ltd, said, “There might
be some dipping in the real estate prices in some pockets
with low economic activity, low income level needed to support
the price.”
http://www.financialexpress.com/fe_full_story.php?content_id=161482
PLACE: NEW DELHI
Real estate sector 'booming' but 'unorganized'
The international realty fair held here for the first time
prompted a Dubai-based organizer to say that while the sector
was 'booming' in India, it was also 'highly unorganized'.
After a successful stint at the Asian Real Estate Show (ARES
2007), which had participants from 15 countries and concluded
in the capital April 15, Iqbal Siddiqui of Al Fajer Information
and Services said that while he was happy with the response,
he wished the sector was more organised.
http://www.andhracafe.com/index.php?m=show&id=21823
PLACE: NEW DELHI
Indian realty stocks top Asia Pacific list: IMF
The real estate boom experienced by India in last couple of
years is the highest in the Asia Pacific region when it comes
to the growth seen by the stocks of this sector. As far as
house prices are concerned, India stood only second to New
Zealand in the region, the International Monetary Fund said
in its recently released Regional Economic Outlook for the
Asia Pacific region. According to the IMF, the real estate
stock prices in India increased 14 per cent during 1999-2006,
while Indonesia saw the second highest growth (10 per cent)
during the same period.
http://www.businessstandard.com/common/storypage.php?autono=281573&leftnm=3&subLeft=0&chkFlg=
PLACE: MUMBAI
Time Warner, Megabox plan multiplex chains in India
Foreign entertainment giants like Time Warner and Australia
’s Hoyts are in talks with real estate developers such
as the DLF group, the Raheja Group and Sobha Developers to
set up chains of multiplexes across the country. South Korean
multiplex operator Megabox is also believed to be looking
at the Indian market.
http://economictimes.indiatimes.com/News/News_By_Industry/Media__EntertainmentArt/Time_
Warner_Megabox_plan_multiplex_chains_in_India/articleshow/1919801.cms
PLACE: NEW DELHI
DE Shaw, Och Ziff of US plan NBFC foray here
US-based global hedge funds DE Shaw and Och Ziff are learnt
to be considering setting up non-banking finance companies
(NBFC) in India , after the final guidelines for setting up
NBFCs by foreign companies are announced. Hedge funds have
been investing in India either through P-Notes, private equity
or through the pre-IPO placement route in companies. Sources
say that hedge funds are evaluating deals across sectors,
including
real estate, manufacturing, infrastructure and IT. Some experts
suggest, as many as 50 hedge funds have exposure in the real
estate sector.
http://economictimes.indiatimes.com/News/News_By_Industry/Finance__Insurance/Finance/DE_Shaw_
Och_Ziff_of_US_plan_NBFC_foray_here/articleshow/1919991.cms
PLACE: NEW DELHI
AIG Asset wants to make a splash here
The recently-launched AIG Asset Management, the Indian mutual
fund arm of AIG Global Investment Group, wants to create a
niche for itself in alternative assets like private equity,
real estate funds and hedge funds. The AMC is the first international
fund house to enter India directly without a joint venture
with an Indian entity. It also plans to bring a novel strategy
to India where the fund house itself invests money in the
mutual fund, alongside several retail and institutional investors.
http://news.moneycontrol.com/india/news/mfnews/aigassetmanagementaigglobalinvestmentgroup/aigassetwantsto
/market/stocks/article/276496
PLACE: NEW DELHI
Staying Afloat
The impact of this is clearly visible in the increased EMIs
that you pay now on your previous loans, and the extended
tenure for which you will be required to pay on a floating
rate loan. This is fallout of the Reserve Bank of India’s
response to the rise in inflation and risk in lending to the
real estate, car loan and personal loan sectors. The RBI as
a policy measure has increased the Repo rate, CRR (cash reserve
ratio) and provisioning against real
estate lending. This has left banks with little option but
to increase their interest rates.
http://www.expressestates.in/full_story.php?content_id=85005
PLACE: NEW DELHI
Adi Godrej will soon have a new listed company from his portfolio
We plan to bring private equity into two of our IT projects
and then we plan to list the company next year," said
Adi Godrej, Chairman, and Godrej Industries.” Its a
private company and the promoters, Godrej Industries have
a controlling stake of over 80 per cent, and we wont be diluting
this much, instead we will be raising the share capital,"
he added. More and more companies are realizing that real
estate is a crucial tool to add to the bottom line while Godrej
thinks real estate is a good business to be in. on their own.
Golden Tobacco Company (GTC) is now selling part of its 200
crore land pool in Hyderabad and developing the rest.
http://www.ndtvprofit.com/homepage/storybusinessnew.asp?id=37644&template=&cache=4/18/2007%2012:46:22%20AM
PLACE: BANGALORE
Armani spots a suitor in DLF Group
After snapping JV talks with Reliance Retail, global designer
brand Giorgio Armani is seen in talks with real estate major
DLF Group amongst others as it seeks a partner to tap the
Indian market. Sources said Armani’s business development
team has had talks with DLF as it is looking at setting up
high visibility stores in Mumbai and Delhi initially. However,
the nature of Armani’s talks with DLF is not known even
though the designer brand has explored the possibility of
a licensing deal in the past.
http://economictimes.indiatimes.com/Armani_spots_a_suitor_in_DLF_Group/articleshow/1919743.cms
PLACE: NEW DELHI
Has the eGoM resolved all pending SEZ issues?
As per the eGoM decision, an SEZ would now contain 50 per
cent of processing unit or industrial usage. I think we should
not call the entire projects real estate. Banks should offer
lower interest rates for infrastructure projects like roads,
power, bridges, schools and hospitals and only the residential
complexes should come under the real estate sector. Thus,
75 per cent of the projects would be saved from higher interest
rates.
http://www.businessstandard.com/economy/storypage.php?leftnm=lmnu2&subLeft=3&autono=281514&tab=r
INTERNATIONAL
NEWS
PLACE: REUTERS
Corrected-Corrected-Inland American Real Estate buys Six
Pines portfolio
Inland Real Estate Acquisitions Inc. said it acquired for
Inland American Real Estate Trust Inc. retail and industrial
portfolios, including Six Pines featuring 21 grocery-anchored
properties of 1.47 million square feet of prime retail space,
for about $256.6 million. Inland also bought 20 industrial
properties of 2.3 million square feet from ProLogis in Tennessee
, the company said in a statement without giving the dollar
amount for this deal.
http://www.reuters.com/article/mergersNews/idUSWNAS639320070417
PLACE: NEW YORK
Affordable Residential to sell real estate unit
Affordable Residential Communities Inc. said on Tuesday
it would leave the real estate business and sell its manufactured
home community arm, which represents the bulk of its assets,
to hedge fund Farallon Capital Management LLC for about
$1.8 billion in cash and assumed debt. The agreement sent
Affordable shares down more than 6 percent, as dedicated
real estate investors were forced to sell their stock, BMO
Capital Markets Analyst Paul Adornato said.
http://today.reuters.com/news/articleinvesting.aspx?type=etfNews&storyID=2007-04-17T173939Z_01_N17224890_RTRIDST_0_AFFORDABLERESIDENTIAL-UPDATE-2.XML
PLACE: BAHAMAS
New Real Estate Division for Royal Bank of Canada
The group is actually led by Wayne Kendall, a Canadian national,
who has more than 30 years of commercial and residential
real estate financing experience. Mr. Kendall, who is director
of Real Estate Markets, Caribbean division, said RBC is
training Bahamians extensively to provide the advice and
counsel needed to develop better cliental relationships.
http://www.jonesbahamas.com/?c=45&a=12334
PLACE: PALMER
Real estate agent hired
Carlson GMAC Real Estate recently announced that Regina
Ryan has joined the firm's Palmer office as a sales agent.
Ryan was a longtime resident of Springfield and has lived
in Brimfield for the past 10 years. She formerly worked
at Coldwell Banker Residential Brokerage in Wilbraham. She
is a graduate of Springfield Technical Community College
and attended Western New England College 's business program.
Ryan holds professional memberships in the Greater Springfield,
state and national associations of Realtors.
http://www.masslive.com/metroeastplus/republican/index.ssf?/base/news-2/1176749723168120.xml&coll=1
PLACE: NEW JERSEY
New, Leading Nordic Commercial Real Estate Advisor Formed:
Glitnir Property Group and Leimdörfer Create Leading
Nordic Real Estate Adviser
The leading Nordic commercial real estate adviser, Glitnir
Property Holding, is created through the combination of
the Norwegian Glitnir Property Group (the parent company
of Glitnir Naeringsmegling AS, Glitnir Real Estate AS and
UNION Eiendomskapital AS, former UNION GRUPPEN) based in
Oslo and the Swedish real estate adviser Leimdörfer
with offices in Stockholm and Helsinki, Finland. This is
one important step in the strategy to become the leading
commercial real estate advisor in the Nordic market.
http://www.sys-con.com/read/362956.htm
PLACE: LONDON (REUTERS)
Real Estate Opportunities looks beyond Ireland
Irish-owned Real Estate Opportunities, which last year bought
London's Battersea Power Station, told Reuters on Tuesday
it would like to make more investments outside of Ireland.
In November the 755 million-pound investment trust which
is majority-owned by private Irish firm Treasury Holdings
Group, bought the derelict site from Hong Kong-based developer
Parkview International for 400 million pounds.
http://investing.reuters.co.uk/news/articleinvesting.aspx?type=fundsNews&storyID=200-04-18T073242Z_01
_NOA827073_RTRUKOC_0_REO-OUTLOOK.xml
PLACE: OKLAHOMA
Attorneys for an Enid real estate appraiser plan to appeal
ruling to revoke their client’s license
Attorneys for an Enid real estate appraiser say they will
appeal a recent Oklahoma Real Estate Appraiser Board decision
to revoke his license.
“We are in the process of filing an appeal,”
said Enid attorney Michael Roberts. His client, Dan Montague,
has been an appraiser for more than 20 years and recently
was elected vice president of Enid Metropolitan Board of
Realtors.
http://www.enidnews.com/localnews/local_story_108005942.html
PLACE: QATAR
Real estate investments beckon NRIs
The hike in interest rates by the Reserve Bank of India,
the ongoing regulatory reforms by the government and enhanced
liquidity place non-resident Indians in a very good position
to park their excess funds in property back home. These
factors, coupled with the phenomenal growth pattern currently
being experienced by the real estate market in India, have
not gone unnoticed on the real estate companies which have
high expectations of overseas Indians.
http://www.thepeninsulaqatar.com/Display_news.aspsection=World_News&subsection=India&month=April2007&file=World_
News2007041823643.xml
PLACE: TURKEY
Real estate investors move into media ownership
Subscribers, shareholders and advertisers may be leaving
newspapers in droves but real estate moguls are sinking
part of their fortunes into the business. For better or
worse, that gives outside magnates a growing role in newspapers
at a time of dramatic change for an industry long dominated
by traditional media ownership.
http://www.todayszaman.com/tzweb/detaylar.do?load=detay&link=108687&bolum=107
PLACE: SANDEIGO
Real Estate Agents Sell Homes Quicker With New Z57 Listing
Exposure Tool
Real estate Internet marketing company, announced today
a pioneering product to help REALTORS(R) gain more exposure
for their home listings. This new product goes a step further
than most listings submittal programs. It is specifically
designed to get the agent's listings found and sold quicker,
not just submitted to search engine websites.Z57's Featured
Listings Program gives real estate agents' listings priority
placement on popular real estate search websites, like Oodle
and LiveDeal, as well as includes submission to four other
websites - Trulia, Propsmart, Edgeio and Vast. This level
of exposure helps ensure that the agent's listings are found
by prospects.
http://www.sys-con.com/read/362521.htm
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