Hines, one of the world’s largest real-estate groups in terms of assets, is preparing to spend $1.6 billion on buildings in the U.K., doubling its assets in the country in an effort to diversify away from riskier acquisitions.
London looks likely to experience a drought of new housing over the next few years, as construction of homes amid fears of renewed recession and a dearth of mortgage finance, a report from property consultant suggests.
A fight is brewing between two of China’s biggest property developers as they wrestle for control of a commercial real-estate site in the heart of Shanghai.
Pundits once mocked Shanghai’s Pudong district, a purpose-built version of Manhattan, as overdesigned and underoccupied. Today, as worries of a Chinese property crash are back in force, Pudong is an unlikely bright spot.
Link REIT, the largest Hong Kong-listed property trust by market cap, said distributable income for its fiscal first half increased 21% year-to-year earlier because of rising rental income.
China’s property prices are dropping at a faster rate, suggesting Beijing has tamed housing costs but also raising concerns about China’s role as a global engine of growth.
E-House (China) Holdings has offered to acquire China Real Estate Information Corp. in a cash-and-stock deal that values China Real Estate at $897.3 million.
New World Development proposes to raise as much as US$1.59 billion from a rights issue in Hong Kong, in a move aimed at strengthening its capital base.
The Beijing branches of China Construction Bank Corp., the country’s largest mortgage lender by assets, have raised the mortgage rates for first-time home buyers, the state-run Xinhua news agency reported Sunday.
North American property buyers returned to the London real-estate market with gusto in the first half of 2011, but market watchers warn that interest may not be enough to stop values from falling in some areas.
Sweden’s property market is in robust health. At the country’s biggest-ever property auction, which got under way in Stockholm this week, 25 properties were sold for a total of $137 million.
The Hong Kong government sold a residential site in the New Territories to blue-chip developer Sun Hung Kai Properties for $400 million in a land auction Tuesday.
Private-equity giant Lone Star Funds and banks Wells Fargo and J.P. Morgan Chase are the winning bidders for Anglo Irish Bank Corp.’s $9.5 billion portfolio of U.S. commercial real-estate loans.