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26th
& 27th April, 2007
NATIONAL NEWS
PLACE: NEW DELHI
Realty firms put off AIM listings
Investors had soaked up real-estate stocks last year,”
said Ibukun Adebayo, manager, business development, India
and international, London Stoc.“This year, there is
a slowdown in the domestic real-estate market and this mood
is reflected at the AIM market as well.”Among the companies
that have decided to defer the AIM listing is Mumbai-based
real-estate developer Lok Housing and Constructions Ltd, which
had planned to raise $200 million (Rs820 crore).
http://www.livemint.com/2007/04/26003405/Realty-firms-put-off-AIM-listi.html
PLACE: NEW DELHI
Airports seek funds in land, retail and hotels
Typically, non-aeronautical revenue accounts for about 40%
of the total revenue of an airport located in any of the four
metros of Delhi, Mumbai, Chennai and Kolkata. With real-estate
prices touching new highs in these cities, growing nearly
30% in a year, airports offer a viable option for real-estate
and retail players. “Duty free is the biggest potential
revenue generator for retailers and airport operators,”
said Meghna Goenka, general manager, retail services, at property
consultants Trammell Crow Meghraj Pvt. Ltd.
http://www.livemint.com/2007/04/27003226/Airports-seek-funds-in-land-r.html
PLACE:NEW DELHI
These are the sins of a typical bull run
Nothing seems to be going right for the country’s real
estate developers: Consumers have started shying away from
the market with the rising interest rates on home loans and
developers are unable to tap funds. Though developers are
still putting up a brave front, they know the ground under
their feet is shaky. Gaurav Dalmia, the chairman of Landmark
Land Holdings Pvt Ltd, which has invested in more than eighteen
projects in the past five years, tells Bhupesh Bhandari what
went wrong.
http://www.businessstandard.com/common/storypage.php?autono=282560&leftnm=5&subLeft=0&chkFlg=
PLACE: NEW DELHI
Ansal’s Rs22,500 cr township to occupy 5,000 acres in
LucknowAnsal Properties & Infrastructure Ltd, India’s
third-largest listed developer, said it has received preliminary
government approval to more than double the size of its planned
golfing and hi-tech city in Lucknow to 5,000 acres, making
it one of the country’s largest township projects. But
Rishi Sahai, board director for IndusView Advisors Pvt. Ltd,
a Delhi-based real-estate investment bank, said the timing
for such a large project is bad. The Reserve Bank of India
has made it tougher for real-estate companies to borrow money
for projects and a recent slump in real-estate shares makes
it more difficult for companies to raise money through the
stock market, he added.
http://www.livemint.com/2007/04/27002407/Ansals-Rs22500-cr-township-t.html
PLACE: NEW DELHI
Tighter money supply: Anxiety on eve of Annual Monetary Policy
release
Corporate India worries as RBI gets ready to announce its
Annual Policy. India’s CEOs and CMDs, especially those
representing
real estate, automobiles, housing finance, banking and financial
services are a worried lot on the eve of the Annual Monetary
Policy to be announced by the Reserve Bank of India.
http://www.livemint.com/2007/04/23111849/Tighter-money-supply-Anxiety.html
PLACE: DUBAI
Gulf firm's $200 mn India equity fund a success
The Indian Private Equity Fund was structured to allow KFI's
investors' entrance in the Indian private equity market. The
fund is
allocated to two main portfolios, 50 per cent real estate
and development and 50 per cent private equity. "The
Sharia-compliant 200 million dollar fund offers investors
in the GCC a unique opportunity to benefit from the dynamism
of the Indian economy and the high growth levels it is maintaining,"
KFI Wealth Management Director Talal Kaiksow said in a statement.
http://www.hindu.com/thehindu/holnus/006200704260342.htm
PLACE: MUMBAI
Death knell for India property boom?
'The grave dancer', US tycoon Samuel Zell, was in a mood to
spoil a two-year-long party when he told a gathering of Indian
property executives this week they were 'on the brink of excess'
and their boom would end in tears .The demographic fundamentals
for India's real estate boom touted by analysts appear compelling
for many investors.
http://www.financialexpress.com/latest_full_story.php?content_id=162220
PLACE: MUMBAI
PEs bring in more funds than public issues
Funds raised through the private equity route outpaced those
raised through public issues during January-March 2007. Fewer
issues getting the go-ahead from market regulator Sebi and
volatility on the bourses are said to be the main reasons
for the trend.
According to analysts, though there has been an unrestrained
funding to IT and banking firms, allocation to companies in
sectors like
consumer products, textiles and real estate have increased
over the past one year.
http://economictimes.indiatimes.com/PEs_bring_in_more_funds_than_public_issues/articleshow/1955172.cms
PLACE: MUMBAI
Preserving our heritage
The heritage structures of Mumbai are some of the most precious.
But the biggest issue with such monuments today is their maintenance
.We discovered the Indus Valley Civilisation, its artefacts,
belongings and architecture — which brought an astonishing
revelation of structural designing that dates back to 3,000
B.C.This enabled their continued preservation while the cost
of real estate prices were rocketing up and were threatening
to endanger many historic sites.
http://www.cybernoon.com/DisplayArticle.aspsection=xtras&subsection=bombayfirst&xfile=April2007_
extraspecial_standard800&child=extraspecial
PLACE: MUMBAI
Mumbai most risk-averse city: HSBC survey
Mumbai, the financial capital of India, has emerged as the
most risk-averse among the top cities in Asia and Australia,
according to a survey, conducted by HSBC India.More than 73
per cent Mumbaiites, Hong Kong (73 per cent) and Sydney (84
per cent) consider cash and liquid assets as top symbols of
wealth. Real estate is the next most prevalent expression
of wealth in these markets.
http://inhome.rediff.com/money/2007/apr/26mum.htm
INTERNATIONAL NEWS
PLACE: THAILAND
Hilton to Sell Morgan Stanley Real Estate 10 Hotels in Continental
Europe Hilton Hotels has signed an agreement to sell up
to 10 hotels (approx. 3,330 rooms) to a fund managed by
Morgan Stanley Real Estate for approximately €566 million
(or approximately US$770 million).Hilton and Morgan Stanley
Real Estate have agreed to long-term management contracts
on five of the 10 hotels, including the Hiltons in Düsseldorf,
Dresden, Paris Charles de Gaulle, Strasbourg and Zurich.
Morgan Stanley Real Estate has agreed to make an extensive
and immediate investment of approximately €18 million
in these five hotels.
http://www.asiatraveltips.com/news07/274-HiltonHotels.shtml
PLACE: TURKEY
Turkey has better assets to offer than Spain in
real estate market
"Turkey has a better chance in real estate compared
to Spain. We must utilize this opportunity wisely,"
said Erdogan Bayraktar, Acting Chairman of the Housing Development
Administration of Turkey (TOKI), on Thursday. Attending
the Real Estate Summit organized by the Association of Real
Estate Investment Companies (GYODER) and supported by the
European Public Real Estate Association (EPRA), National
Association of Real Estate Investment Trusts (NAREIT), Urban
Land Institute (ULI), Capital Markets Board of Turkey and
Housing Development Administration of Turkey in Istanbul,
Bayraktar noted that "TOKI favors an increase in real
estate sales to foreigners, with certain limitations, contrary
to certain circles who oppose to this practice."
http://www.thenewanatolian.com/tna-25893.html
PLACE: PHILADELPHIA
REAL ESTATE NEWS
Ironwood Communications Inc. /DirecTV has leased an office
and warehouse facility at 6951 Allentown Blvd. in Lower
Paxton
Twp. to serve the Harrisburg , Lebanon and York markets.
Daniel J. Alderman of NAI/CIR represented Ironwood in lease
negotiations.
Jason Grace of Landmark Commercial Realty represented the
landlord, First Industrial Realty Trust. Powers & Associates
LLC,
a real estate development company, has moved to offices
at 3209 N. Front St. in Harrisburg . Sovereign Benefits
Consulting has leased
7,661 square feet of office space at 1215 Manor Drive in
Lower Allen Twp.
http://www.pennlive.com/business/patriotnews/index.ssf?/base/business/1177637133185510.xml&coll=1
PLACE: UNITED KINGDOM
Fast Search & Transfer wins deal with real estate website
Move Fast Search & Transfer ASA said it was won a deal
with real estate website,
Move, for the deployment of its Fast Enterprise Search Platform.While
no financial details were released; Fast said the agreement
is based on software license, maintenance fees, and other
professional services.
http://www.abcmoney.co.uk/news/27200763030.htm
PLACE: TEXAS
Market Conditions
In Austin , Texas , local experts are reporting that demand
is up 10 percent based on units sold. Supply is down. This
could spell good
news for sellers. One local experts notes, "The Austin
real estate market with the recent acceleration in employment
and economic activity,
we should continue to see the real estate market outpace
the rest of the country during 2007."
http://realtytimes.com/rtcpages/20070427_mrktconditions.htm
PLACE: BOSTON
Redfin Launches Real Estate E-Commerce Service for the Boston
Area Online real estate broker Redfin Corporation today
launched its
real estate e-commerce service in Boston . Separately, Redfin
also today launched a new version of its website with a
new color scheme
and logo, better performance and simpler navigation.
http://www.sys-con.com/read/367223.htm
PLACE: AUSTRIA
Real Estate Agents Online Success
Today there are over 300 million users online surfing the
internet to do research before they buy. The internet has
become the first
place most of the potential homebuyers in their search for
a home. Internet shortens the search for potential homebuyers.
Today, online
marketing has become the key for numerous businesses. Real
Estate is one of them. It saves a lot of time and energy
and often more cost
effective than the traditional ways of marketing. The internet
is becoming a vehicle for agents to gain more exposure for
less the cost.
http://www.pr-inside.com/real-estate-agents-online-success-r105323.htm
PLACE: MAYVILLE
Howard Hanna Holt Real Estate returns to Home Show
Agents representing Howard Hanna Holt Real Estate will be
on hand for the second straight year at the Home and Garden
Show organized by the Dunkirk and Fredonia Rotary clubs.
The annual event is being held this weekend at the Clarion
Hotel and Conference Center , Lake Shore Drive East , Dunkirk
. Show hours are 4 to 9 p.m. on Friday, 10 a.m. to 7 p.m.
on Saturday and 10 a.m. to 4 p.m. on Sunday. Howard Hanna
Holt Real Estate will be at exhibition booth 19.
http://www.observertoday.com/articles.asp?articleID=11851
PLACE: CALIFORNIA
Knowing How To Select A Real Estate Agent
There are many reasons why you should carefully select the
real estate agent you plan to work with when thinking about
purchasing a property. Many have been taken into purchasing
properties that turned out to be holes or worst, scammed
out of all their money. Thus, the selection of your real
estate agent is probably the first step of a property’s
purchase and often the most important one.
http://www.americanchronicle.com/articles/viewArticle.asp?articleID=25341
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