3rd
May, 2007
NATIONAL NEWS
PLACE: NEW DELHI
Real Estate: Al Fajer plans India entry with $1 bn joint
venture
Dubai-based Al Fajer Properties said it is in talks with
two unidentified Indian developers to form a joint venture
for an investment of up to $1 billion (Rs4,100 crore) in
Indian real estate. Al Fajer is one of a growing number
of Dubai companies showing interest in Indian real estate.
It is moving into India despite signs that the real-estate
market is softening.
http://www.livemint.com/2007/05/03003943/Real-Estate-Al-Fajer-plans-In.html
PLACE: KOLKATTA
AIG plans to set up ARC in India
American Investment Group (AIG) is planning to set up an
asset reconstruction company (ARC) in India . It also plans
to venture into mortgage guarantee business as part of its
expansion plans in the country. Mehta said the group would
also increase its exposure in the real estate sector. AIG
has invested in a joint venture with RMZ Corp of Bangalore
to develop a 20-acre plot at Rajarhat into a commercial
property that will have 2.6 million sqft of space. In Chennai,
the JV is developing another property.
http://www.financialexpress.com/fe_full_story.php?content_id=163006
PLACE: NEW DELHI
Philips India forays into water purifier business
Philips Electronics India Ltd on Wednesday marked its foray
into the Rs 450-crore domestic water purifier appliances
market,
with the launch of its `Intelligent Water Purifier'. While
Philips plans to sell its water purifying systems through
various retail
outlets, it is also in discussions with real-estate developers
to install the product in various apartments. The product
will be
made available across 90 cities in the country by the end
of September.
http://www.moneycontrol.com/india/news/business/philipselectronicsindiawaterpurifier/philipsindiafor/market/stocks/article/279221
PLACE: NEW DELHI
India likely to take a breather
Emerging market equities look good to continue outperforming
the rest of the world on a “trading places”
theme —
trading places with US equities to be more specific. And
more specifically, Asia excluding Japan is looking amongst
the
best placed within the emerging market universe to weather
a weaker US economy. Meanwhile, the Asian financial crisis
sent emerging market currencies through the proverbial floor,
dramatically raising domestic interest rates, savaging domestic
demand and pushing down asset prices — from real estate
to stocks. What is happening now appears to be a reversal
of that.
http://economictimes.indiatimes.com/Opinion/Editorial/India_likely_to_take_a_breather/articleshow/1994290.cms
PLACE: NEW DELHI
Investment caps under review
The government is likely to treat foreign direct investment
(FDI) and foreign institutional investors (FIIs) at par
in non-sensitive
sectors. Sensitive sectors like real estate and telecom
will have a composite foreign investment cap, including
both FDI and FII.
http://www.financialexpress.com/fe_full_story.php?content_id=162994
PLACE: NEW DELHI
Indian bank steps into service economy
Most people applaud those who put their money where their
mouth is. But that is not always true of investors, as K.V.
Kamath,
head of India's largest private lender, ICICI Bank, found
out yesterday. Kamath's bank is known in India as a first-mover
- it saw the
country's consumer boom coming before many of its peers
and was one of the first institutions to develop channels
to tap into the
savings of the country's wealthy diaspora.The last twist
in the takeover of Countrywide, the perplexingly popular
UK real estate agency,
makes you wonder whether there is any longer such a thing
as a "normal" bid.
http://www.gulfnews.com/business/Comment_and_Analysis/10122446.html
PLACE: NEW DELHI
BRIEFCASE: Childhood Storeys
“We’re trying to improve the real estate value
of the apartment”, my mother informed me. I wondered
if, like before, it would attract
young couples with children in tow. One of the many films
that have made Mani Ratnam the ‘guru’ of Indian
cinema is Anjali.
When i saw the film as a tween, i remember liking the movie
not only for its poignant portrayal of a spastic child’s
family, but also for its depiction of middle-class childhood
in urban India .
http://timesofindia.indiatimes.com/Opinion/Editorial/BRIEFCASE_Childhood_Storeys/articleshow/1994115.cms
PLACE: NEW DELHI
Indiabulls arm, Zoom among 14 in fray for NTC mill recast
National Textile Corporation (NTC) has received expressions
of interest (EoI) from 14 companies, including Indiabulls
Real Estate
and Zoom Developers, to modernise 18 of its mills. The modernisation
of these mills would be carried out through the joint venture
route where NTC would have a 51% stake while the balance
would be held by the private company.
http://economictimes.indiatimes.com/News/News_By_Industry/Cons_Products/Garments__Textiles/Indiabulls_arm_
Zoom_among_14_in_fray_for_NTC_mill_recast/articleshow/1994388.cms
PLACE: NEW DELH
IRealtors still grounded in tradition
India’s organised retail industry may be worth Rs
50,000 crore and coasting along at an annual clip of 30%
with a mixture of
home-grown and foreign brands, but tradition still rules
sentiments. A swathe of retailers and realtors are pinning
faith on vaastu
pyramids to get rid of doshas (negative energies) from projects
and enhance footfalls in stores across malls and high streets.“The
real
estate business, until recently, was under pressure due
to sagging demand. So the builders were on the lookout for
some ways in which
they could outsell each other. Today, the builders are resorting
to pyramid vaastu correction so that the prospective buyer
gets positive
vibes that can result in closing the deal,” says Kirti
Betai, president, Modern Vaastu Science, Environmental Energy
Science Research
Organisation.
http://economictimes.indiatimes.com/VAASTU_HELPS/articleshow/1994538.cms
PLACE: NEW DELHI
Bharat Hotels to set up its first oveseas unit in DubaiBharat
Hotels, which owns ‘The Grand´ group of hotels,
on 2 May announced its
joint venture with UAE-based real estate developer Nakheel
to build its first international hotel in Dubai at an investment
of Rs 475 crore.
http://www.livemint.com/2007/05/02184837/Bharat-Hotels-to-set-up-its-fi.html
INTERNATIONAL
NEWS
PLACE: JANESVILLE
Couple, Real Estate Agent Find Dead Body While Touring Home
A couple who'd been checking out a house for sale in Janesville
, Wisconsin got quite a shock. They found the 55-year-old
homeowner dead in her bed.Their real estate agent was standing
in the dining room while Justin and Colleen McKeen walked
through the home Monday night. She knew something was wrong
shen she heard Mrs. McKeen scream.
http://www.wltx.com/news/story.aspx?storyid=49242
PLACE: NEW ZEALAND
Consumer laws for to all – even real estate agents
Consumer laws apply to all – even real estate agents
Consumer Affairs Minister Judith Tizard is stunned that
Harcourts are honouring one
of their real estate agents who deliberately misled consumers
and breached consumer laws. "Harcourts must be seriously
out of touch if they choose to honour a person who has deliberately
broken our consumer laws and their own industry's code of
ethics."
http://www.scoop.co.nz/stories/PA0705/S00079.htm
PLACE: NORTH CAROLINA
2007 Million $ Deals, Featuring Who's Who in Commercial
Real Estate
Thank you for coming to the Courier's website. We are introducing
a new publication, Million $ Deals featuring Who's Who in
Commercial
Real Estate. Million Dollar Deals is a compilation of the
Business Courier's Deals of the Week from the past year.
We will also include a
guide to the region's Commercial Real Estate professionals
and organizations. As a professional involved in this industry,
we want to give
you an opportunity to get in on this publication. This form
will provide us with critical information to ensure that
your and/or your firm are
included in the Who's Who portion of this edition. Don't
miss this opportunity to help our audience as they navigate
the Commercial Real Estate
industry.
http://www.bizjournals.com/cincinnati/nomination/901
PLACE: ABU DHABHI
Manazel eyes MENA real estate market with $11 billion projects
Abu Dhabi-based Manazel Real Estate yesterday hinted at
its plans to develop $11 billion projects in the next five
years in Saudi Arabia ,
Qatar , Kuwait , Tunisia , Jordan , Egypt and Morocco .
"Just one year after we started, our investment in
the UAE has increased to more
than $2.5 billion," said Mohammed Al Qubaisi, chairman
of Manazel Real Estate, at a Press conference.
http://www.khaleejtimes.com/DisplayArticleNew.asp?xfile=data/business/2007/May/business_May98.xml§ion=business
PLACE: WEST INDIES
Schwab starts real estate fund
Charles Schwab & Co. Inc. will start a real estate securities
fund through its asset management unit, Charles Schwab Investment
Management. The global real estate fund, managed by Jeffrey
Mortimer, Dionisio Meneses and David Siopack, will mainly
invest in domestic and international commercial real estate
investment trusts. The fund will use research from Global
Real Analytics, which Schwab bought in January. It will
not invest directly in property.
http://milwaukee.bizjournals.com/eastbay/stories/2007/04/30/daily21.html
PLACE: DUBAI
Sharjah Islamic Bank sets up real estate unit to tap ongoing
boom
Sharjah Islamic Bank (SIB) has set up ASAS Real Estate Co,
a statement from the company said.Through the unit, "the
bank seeks to combine physical profit and rendering community
services, thus epitomising the Islamic economic concept
of dealing in assets in the course of wealth investment
to add real value to society," the statement said.
http://www.gulfnews.com/business/Banking_and_Finance/10122427.html
PLACE: AUSTRALIA
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.
Paula and Bill Schmidt of Georgia didn't set out to make
money investing in real estate, but when their nonprofit
ministry fell on hard times,
you could say divine intervention took over. It just so
happens that around the time money was getting tight, Paula
saw a television program
featuring a man named Carleton Sheets that changed everything.
http://www.helena-arkansas.com/articles/2007/05/02/ara/real_estate/649.txt
PLACE: WEST INDIES
Real Estate Channel launched
MultiChannel Ventures Chairman Michael Gerrity says the
company went live Tuesday with the Real Estate Channel (www.realestatechannel.com).
The site delivers real estate sales videos and traditional
television programming on its Web site. The Web site will
feature paid programming video content from any residential
community, home builder, broker, resort hotel, condo tower,
time-share resort or commercial property. The paid programming
revenues are driven by a pay-per-click ad model.
http://milwaukee.bizjournals.com/orlando/stories/2007/04/30/daily25.html
PLACE: THAILAND
Investors target Singapore real estate boom
Real estate markets have their ups and downs, and while
a number of the mature markets in Europe and the US are
seeing stagnant growth,
Singapore continues in leaps and bounds. According to a
recent report in the Asia Wall Street Journal, private residential
property values in
Singapore rose 4.8% in Q1 2007 on the previous quarter,
and gained 10% overall in 2006. Specific market segments
such as the mid market are reportedly seeing higher growth
in values.
http://www.property-report.com/aprarchives.php?id=493&date=020507
PLACE: AZERBAIJAN
Real Estate Registry service's District Land Office being
restructured
Azerbaijan's Real Estate Registry Service's Baku District
Land Office is being restructured aiming at increasing volume
of work.Gulhuseyn
Kazimov told APA-Economics that structure-improvement measures
will influence operative settlement of the appeals, insure
transparency in registration process, improvement of the
level of services to the citizens, and insure their comfortableness.
http://www.today.az/news/business/40371.html
PLACE: DOHA
Real estate registration dept revenues up
The real estate registration department at the Ministry
of Justice is one of the major beneficiaries of the construction
boom the country is witnessing. The department earned a
record revenue of QR80.63m from real estate registrations
in a year from March 31, 2006 until April 1 this year.
http://www.thepeninsulaqatar.com/Display_news.aspsection=Local_News&subsection=Qatar+News&month=
May2007&file=Local_News2007050321752.xml
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