Real Estate

Tahya Masr housing project underway for 60K slum residents

Bloomberg Tahya Masr (Long Live Egypt) Fund, initiated by President Abdel Fattah al-Sisi, is set to deliver the first and second phases of a social housing project tailored for slum residents in April. The Tahya Masr social housing project is to include 15,000 housing units to place 60,000 slum residents, said Manal Shaheen, the fund’s General Director of Development Projects. ...

Read More »

Shenzhen’s banks asked to tighten household mortgage loan standards

Bloomberg A research unit of China’s central bank branch in Shenzhen asked commercial banks in the city to strengthen risk-control practices on household mortgage loans as property prices have soared. Mortgage leverage in Shenzhen has been far higher than in other first-tier cities since 2015, and has accumulated risks, according to the statement from the Financial Society of Shenzhen Special ...

Read More »

Chinese buy one-third of Vancouver homes: Toronto also records purchases

Bloomberg Buyers from China comprised about one-third of purchases of Vancouver’s hot housing market in 2015, according to “back of the envelope calculations” by National Bank of Canada. Chinese investors spent about C$12.7 billion ($9.6 billion) on real estate in the western Canadian city in 2015, or 33 percent of its C$38.5 billion in total sales, according to a note ...

Read More »

Bigger is better for Singapore REITs facing consolidation

Bloomberg Singapore’s real estate investment trust market is set to consolidate as smaller vehicles merge to cope with rising regulatory costs, according to Cambridge Industrial Trust. “The wave of consolidation for Singapore REITs is about to begin,” Philip Levinson, chief executive officer at Singapore-listed Cambridge Industrial, said. The trust has a market capitalization of S$730.5 million ($536 million) and focuses ...

Read More »

China’s urbanities more optimistic despite slow growth

Bloomberg Strength in real estate and labor markets helped consumers in China’s biggest cities shrug off last year’s slowdown, according to a new survey based on 12,000 interviews. RFi Group’s Urban Financial Sentiment Index rose to 101 in the second half of 2015, up from 92.5 in the first half. Readings over 100 show consumers say they’re optimistic about their ...

Read More »

Canadian govt wades into foreign homebuyer debate with funding

Bloomberg Canada will allocate C$500,000 ($383,000) to the country’s data collection agency to develop ways to determine foreign ownership levels in the country’s hot housing markets. “Currently it is not possible to fully understand the role of foreign homebuyers in Canada’s housing market since a comprehensive and reliable data set on the number of homes sold to foreign homebuyers does ...

Read More »

Realtors to mull $427mn London Waterloo site sale

Bloomberg Property investors London & Regional Group Holdings Ltd. and Chelsfield Partners LLP are considering selling one of the most valuable development sites in the U.K. capital, with an asking price of about 300 million pounds ($427 million), according to three people familiar with the matter. Various options are being considered for the Elizabeth House plot in the Waterloo district, ...

Read More »

Macy’s Inc appoints real estate expert to board

NEW YORK / Reuters Macy’s Inc appointed William Lenehan, an expert in real estate investments, to its board amid investor pressure to monetize its real estate assets. Shareholder Starboard Value LP has been pressuring Macy’s since July to spin off its real estate assets, which the hedge fund estimates are valued at about $21 billion. The assets include Macy’s landmark ...

Read More »

As London landlords wilt, South Africa’s REITs defy slowdown

Bloomberg South Africa is struggling to stave off recession after commodity prices fell, demand from China weakened and the worst drought in more than a century. Investors are still making more profit from that country’s property companies than from landlords in central London. Growthpoint Properties Ltd., South Africa’s largest real estate investment trust, and Resilient REIT Ltd. have gained more ...

Read More »

Egypt’s Heliopolis to build 500 villas in New Heliopolis city in 2016

Cairo / EMIRATES BUSINESS Egypt’s state-run Heliopolis Company for Housing and Development (HELI) aims to start developing the fourth neighborhood in New Heliopolis at the end of 2016 with investments, its Chairman and Managing Director Hani Al Dib said on Monday. New Heliopolis fourth neighborhood includes building 500 villas of various spaces with investments worth one billion Egyptian pounds (US$112.6 ...

Read More »
Send this to a friend