MAY 17, 2007

NATIONAL NEWS

PLACE: MUMBAI

Israeli cos bet big on Indian realty market

It’s a trend that has gone largely unnoticed. Several Israeli companies have been putting money in India ’s property
market since mid 2005 when the sector was opened for foreign direct investment. FDI in the domestic real estate sector
has jumped 400% in the last two years.

http://economictimes.indiatimes.com/Markets/Real_Estate/Commercial/Israeli_cos_bet_big_on_Indian_realty_market
/articleshow/2055737.cms

PLACE: NEW DELHI

Global funds to invest $14 bn via Indian funds

Foreign real estate funds have found a new way to play the Indian real estate game. Up to USD 14 billion has been raised globally
for the Indian property market over the past two years, of which, only 20-25% has actually been invested, reports CNBC-TV18.

http://www.moneycontrol.com/india/news/economy/global-funds-to-invest-3614-bn-via-local-fundsindia/281589

PLACE: NEW DELHI

India Inc struck deals worth $43bn between Jan-Mar

There's no stopping the deal action. The total value of deals India Inc notched up between January to April was USD 43 billion,
said M&A advisory firm Grant Thornton. As against USD 440 million in January and February, real estate investments in the post
budget months of March and April slowed down to USD 240 million. Similarly media and entertainment investments have come down
from USD 484 million to USD 156 million.

http://www.moneycontrol.com/india/news/business/india-inc-struck-deals-worth-3643bn-between-jan-mar/281620

PLACE: MUMBAI

JP Morgan builds stronger equity team in Mumbai

Leading financial services company JP Morgan has increased its India equities team by appointing six more people in Mumbai.
JPMorgan is also keen on the Indian real estate sector. JP Morgan Property Fund, which had mobilized over $300 million for the
Indian real estate, is planning to build a residential project in Chennai for Rs 400 crore.

http://economictimes.indiatimes.com/JP_Morgan_builds_stronger_equity_team_in_Mumbai/articleshow/2055793.cms

PLACE: NEW DELHI

India's m-cap inches close to $1 trillion

The market capitalization of India is inching towards $1 trillion after the total value of all listed stocks touched an all-time high of Rs
39,78,172 crore or about $970.28 billion (at Rs 41 a dollar) on Wednesday. Also the Delhi-based Unitech has become the country's
first real estate company to cross the $10 billion mark in market capitalization. Its market capitalization increased by Rs 3,981.68
crore (Rs 39.81 billion) on Wednesday to close at Rs 43,446.24 crore ($ 10.64 billion).

http://inhome.rediff.com/money/2007/may/17mcap.htm

PLACE: NEW DELHI

Brokers Outlook: Market to continue its recovery phase

Real estate and banking sector outperformed the market, State Bank of India traded well. Market is in good phase and
he expects market to soon cross its highest level. Market will remain positive; it would be up 100 points to 150 points.
Real estate and banking will continue to perform. Metal sector also looks good. In large cap, Reliance Infrastructure and Mahindra
Gesco are recommended for trading while in mid-caps Monet Ispat is likely to perform.

http://www.myiris.com/newsCentre/newsPopup.php?fileR=20070516184921140&dir=2007/05/16&secID=livenews

PLACE: MUMBAI

Sankalpan group to form JV with UK co

Corporate design consultancy provider Sankalpan Group is likely to form a joint venture company with a UK-based joinery
manufacturer. The JV would be complimentary to the company's other projects. "We will provide furniture to all our other
projects of real estate," Randive said.

http://economictimes.indiatimes.com/News/News_By_Industry/Cons_Products/Durables/Sankalpan_group
_to_form_JV_with_UK_co/articleshow/2052359.cms

PLACE: BANGLORE

Ripley’s, Louis Tussauds Wax`Museum and Guinness to feature in Bangalore’s Innovative Film City

Bangalore ’s Innovative Film City (BIFC) is one up on Hyderabad ’s film city. BIFC has invested in the real estate and
buildings which will be constructed to REI’s exact standards and designs. REI’s investments will be by way of providing for
displays, the value of which sometimes cannot be estimated.

http://www.indiantelevision.com/headlines/y2k7/may/may235.php

PLACE: NEW DELHI

Real estate sector 'booming' but 'unorganised'

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 organized.

http://www.andhracafe.com/index.php?m=show&id=21823

PLACE: NEW DELHI

Online ads: Big gains for small cos

Starting your own venture has never been easy, especially if you are into a business that is limited by geography.
Clients won't exactly flock at your door on the first day, if you are starting off with, say, a beauty parlour or a real estate service.

http://timesofindia.indiatimes.com/Business/India_Business/Online_ads_Big_gains_for_small_cos/articleshow/2055888.cms

INTERNATIONAL NEWS

PLACE: NEW JERSEY

Investors Real Estate Trust Announces Increase in Regular Quarterly Common Share Distribution, and Declares Series A Preferred Share Distribution Investors Real Estate Trust (NASDAQ: IRETS) announced today that its Board of Trustees has declared a regular quarterly distribution of 16.65 cents per share/unit payable on July 2, 2007, to common shareholders and unitholders of record at the close of business on June 15, 2007.

http://www.sys-con.com/read/377055.htm

PLACE: TEXAS

Research, Relationships, Returns: The Three "R's" of Commercial Real Estate Investing Success With much of the nation's focus on the residential real estate market, and rightfully so since more Americans have wealth tied into the homes they live in, now, more than ever, a basic understanding of what drives commercial real estate investing success is paramount.

http://realtytimes.com/rtapages/20070517_threers.htm

PLACE: SINGAPORE

Istithmar in talks to buy $250m Asia real estate

Dubai investment firm Istithmar is in talks to buy at least $250 million worth of real estate assets in Asia, the head of its property arm said yesterday.

http://www.gulf-daily-news.com/Story.asp?Article=182446&Sn=BUSI&IssueID=30058

PLACE: ARGON

Realize Big Returns with Real Estate

It's a buyer's market, which is great news for real estate investors. There are profits to be made just about everywhere you
turn these days.

http://www.thesuntimes.com/articles/2007/05/16/ara/real_estate/649.txt

PLACE: MINNESOTA

Professor Roberts elected to top real estate lawyer’s organization

William Mitchell College of Law Professor Eileen Roberts has been elected to membership in the American College of Real Estate Lawyers (ACREL), the premier organization of U.S. real estate lawyers. Admission is by invitation only after a rigorous screening process.

http://www.wmitchell.edu/news/articles/default.asp?articleId=11189

PLACE: THAILAND

Talk by Tom Travers, Managing Partner of Indigo Real Estate Ltd, during an International Business Association of Phuket meeting
This is part of a talk given by Tom Travers, Managing Partner of Indigo Real Estate Ltd, during an International Business Association of Phuket or I BAP meeting at Phuja Nirvana, Central Festival, last Friday evening, reviewing the newest luxury villas & hotels in Phuket & Phang Nga areas, with many opportunities for business & employment, as he estimated over a billion US Dollars or about 40 billion baht of investment capital is coming in next 3 years.

http://www.thaisnews.com/news_detail.php?newsid=213817

PLACE: PENNSYLVANIA

Budget would increase real estate levy by 6.8%

The Elizabethtown property tax rate would total about 15.35 mills if the 2007-08 budget is approved in June. That means a homeowner with property assessed at the district's average of $126,400 would pay about $1,940 in real estate taxes next year.

http://www.pennlive.com/news/patriotnews/index.ssf?/base/news/117936240838570.xml&coll=1

PLACE: TEXAS

Tough times predicted for real estate

Rising interest rates might be signaling tougher times ahead for the real estate industry, an Ashburton banker says. For financial institutions that sanction high level borrowings, in the 90 per cent plus range, rising interest rates will inevitably mean borrowing criteria will tighten, Loan and Building manager John Moore said.

http://www.ashburtonguardian.co.nz/index.asp?articleid=9502

PLACE: NEW YORK

Petrodollars Flow into U.S. Real Estate

If it has seemed that Middle Eastern petrodollars have been flowing as freely into the U.S. property market as Middle Eastern oil has into American gas tanks, well, that's because they have. America was the favorite target for Gulf real estate funds in 2006, although it was certainly not alone.

http://www.forbes.com/finance/2007/05/16/petrodollars-mideast-reits-pf-ii-in_ps_0516soapbox_inl.html

PLACE: CANADA

Real estate prices continue to sizzle

The average price of a resale home in Canada's major markets hit another record high in April, industry figures show. New monthly price records were set in at least 12 markets across the country, according to MLS data from the Canadian Real Estate Association (CREA).

http://www.cbc.ca/money/story/2007/05/16/realestate.html