MAY
19, 2007
NATIONAL NEWS
PLACE: NEW DELHI
Finmin drafts tougher foreign-loan norms
India banned real-estate companies and others from raising
funds overseas in its latest measure to curb capital inflows
to fight inflation and halt the appreciation of the rupee,
which is at a nine-year high.
http://www.livemint.com/2007/05/18230150/Finmin-drafts-tougher-foreign.html
PLACE: MUMBAI
Kumar Mangalam vows to provide world class retail
The real estate is turning out to be the biggest problem
for the retail companies while rolling out their stores.
How are you tackling this issue? Will you develop the now
closed Century Mills (owned by Kumar’s grandfather
B K Birla) in Mumbai as a retail venture?
I am not commenting on the Century Mills plans. As far as
real estate is concerned, we know it is tough. But we have
to go out and procure real estate for our stores. We do
not have any plans now to set up a real estate fund.
http://www.businessstandard.com/common/storypage.php?autono=284933&leftnm=1&subLeft=0&chkFlg=
PLACE: NEW DELHI
Buy Bhagyanagar India; target of Rs 65: Karvy
Bhagyanagar India showed excellent Q4 FY 07 results due
to extensive real estate and infrastructure sales. The topline
showed a YoY growth of66.7% and a QoQ growth of 90.02%.
The operating margins got a boost from the increasing share
of the realty business into the company's earnings.
http://www.moneycontrol.com/india/news/recommendations/buy-bhagyanagar-india-targetrs-65-karvy/281996
PLACE: NEW DELHI
‘Kochi, Nagpur among top tier-III IT, ITeS destinations’
Kochi , Chandigarh and Nagpur have emerged as the top three
IT/ITES commercial real estate destinations among Tier III
cities in India , says a recently released report by property
consultants Jones Lang LaSalle.
http://www.financialexpress.com/fe_full_story.php?content_id=164576
PLACE: NEW DELHI
Hinduja Group & Dubai World Enter into a JV
Hinduja Group India Limited and Limitless LLC (the global
integrated real estate development arm of Dubai World, a
business organisation owned by the Dubai Government) have
entered into a joint venture for providing medicare services,
medicare infrastructure and other medicare-based real estate
business in India and elsewhere.
http://www.expresshealthcaremgmt.com/200705/market07.shtml
PLACE: HYDERABAD
Corporates tap Vaastu for wealth
Move over consultants, researchers and brand builders. Corporate
India is increasingly banking on Vaastu Shastra and Feng
Shui principles to perk up its balance sheet. To rectify
Vaastu flaws in existing constructions, they are even willing
to go for remedial measures like placing pyramids, figurines
of Laughing Buddha or changing the direction of coffers”,
said Amit Bagaria, chairman, Asipac group, Real estate and
infrastructure consulting firm.
http://economictimes.indiatimes.com/articleshow/2060878.cms
PLACE: NEW DELHI
Bata head knows where the shoe pinches devises fortune change
Bata India Ltd, one of India’s oldest shoe brands,
has had a rough ride. Battling rising wages and militant
unions, it has made several attempts to restructure its
India operations over the past few years. He also plans
to use Bata’s surplus land in Kolkata for real estate
developments. He suspended more than 200 employees when
they refused to comply with the management’s decision
to make staff work in shifts in an effort to keep the stores
open for extended hours.
http://www.livemint.com/2007/05/18233600/Bata-head-knows-where-the-shoe.html
PLACE: DULER
Describing Dayanand Narvekar's pet project of IT Park as
a huge land scam, speakers under the banner of Jagrut Goem,
on Friday, exhorted the people from Aldona to dump Narvekar
at the forthcoming assembly elections and save Goa from
destruction. At the IT Habitat, in Dona Paula large tracts
of land were sold to real estate developers, Kelekar disclosed,
and observed how Narvekar was bluffing Goans about call
centers being set up in Goa.
http://oheraldo.in/node/24830
PLACE: NEW DELHI
Choice Hotels teams up with Royal Indian Raj
Choice Hotels has signed up with Royal Indian Raj International
Corporation (RIRIC) to build at least 12,000 budget-style
hotel rooms under different brands namely the Comfort Inn,
Quality, Sleep Inn and Clarion Brands. The deal increases
RIRIC's current proposed FDI in the real estate sector under
the Integrated Township programme and in the hospitality
and resort sector to over US$ 6 billion, including its Royal
Garden Villas & Resorts projects in Bangalore and Hyderabad.
http://www.expresstravelworld.com/200705/market29.shtml
INTERNATIONAL
NEWS
PLACE: CANADA
Insider Real Estate Secrets Revealed!
(Educational Course for Home Buyers and Sellers) Lesson
# 10
Welcome to this week's edition of Insider Real Estate Secrets
Revealed! (Educational Course for Home Buyers and Sellers).
In this edition of Insider Real Estate Secrets Revealed,
we will learn the 10 critical mistakes many people make
when buying a home...and how you can avoid them! We're also
discussing the 3 negotiating secrets all top Home Sellers
know. So, sit back, relax, and enjoy this edition.
http://www.americanchronicle.com/articles/viewArticle.asp?articleID=27528
PLACE: NEW YORK
State Attorney General Investigating Manhattan Real Estate
Practices
New York State is investigating Manhattan real estate practices,
seeking information about whether brokers pressured appraisers
to inflate property values as prices doubled in the last
five years.
http://www.nytimes.com/2007/05/19/business/19real.html?ref=nyregion
PLACE: WASHINGTON
The Restraints on Robust Real Estate Competition
Many obstacles remain to achieving more "robust competition"
in the real estate market, the Federal Trade Commission
and the Justice Department has concluded.
http://www.washingtonpost.com/wpdyn/content/article/2007/05/18/AR2007051800745.html
PLACE: NORTH CAROLINA
Court shuts down real estate operation
A judge has shut down an Austin real estate operation that
left many Hispanic home buyer facing foreclosure. A permanent
injunction issued by the 126th Judicial Court prohibits
Roberto Flores and his Galindo Trust from selling homes
to consumers without disclosing that the property is encumbered
by pre-existing liens, according to Texas Attorney General
Greg Abbott.
http://charlotte.bizjournals.com/austin/stories/2007/05/14/daily39.html
PLACE: NEW YORK
Denver real estate scion takes of Kentwood
Bill Moore, former owner and president of Moore and Company
Realtors has acquired The Kentwood Company residential real
estate firm in a private transaction effective today.
http://www.rockymountainnews.com/drmn/business/article/0,1299,DRMN_4_5544355,00.html
PLACE: QATAR
Sabban Property Investments to release Provencal at the
Qatar Real Estate Exhibition 2007
Sabban Property Investments (SPI) has announced that Provencal,
the second tower of its luxury residential development -
the Sabban Towers - will be released for sale at the second
Qatar Real Estate Exhibition 2007.
http://www.albawaba.com/en/countries/Qatar/213054
PLACE: FLORIDA
Residential real estate practitioners look for opportunity
in down market
The latest existing home sale figures from the Florida Association
of Realtors may look like the beginning of the end for Tampa
Bay's housing market, but for real estate practitioners,
it's more like the beginning of something good.
http://tampabay.bizjournals.com/tampabay/stories/2007/05/21/story7.html
PLACE: PAKISTAN
'Black Saturday’ riots haunt real estate business
in Karachi
The booming business of real estate in the metropolis suffered
a set-back due to the May 12 carnage following rumors of
ethnic riots as sharp decline in value of real estate in
the city has registered in aftermath of the Saturday’s
bloodbath.
http://www.onlinenews.com.pk/details.php?id=112370
PLACE: LOS ANGELS
Tenants protest eviction at landlord's real estate class
A university real estate instructor got a lecture from his
Echo Park tenants who are facing eviction because the landlord
wants to opt out of a federal subsidy program and raise
rents. Some three dozen Morton Avenue tenants boarded a
bus and rode to UCLA, where business school instructor Eric
Sussman was teaching a class.
http://www.whittierdailynews.com/news/ci_5930246
PLACE: NEW YORK
Boetzelen Real Estate plans IPO on Frankfurt exchange by
end-June
Boetzelen Real Estate AG plans an initial public offering
before the end of the first half of this year to raise funds
to buy properties.The real estate firm plans to list its
shares on the Prime Standard segment of the Frankfurt stock
exchange, according to a company statement.
http://www.forbes.com/markets/feeds/afx/2007/05/18/afx3736005.html
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