Real Estate

London property market shines as sales climb

Bloomberg Prime London property has had a tough year, but there are signs that the slump is easing. The capital’s three most expensive boroughs—the City of Westminster, Camden, and Kensington and Chelsea—each saw sales jump by more than 20 percent in the third quarter from the same period in 2016, according to a report from LSL Acadata. The year-earlier period ...

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Singapore’s home sales gain with annual tally

Bloomberg Singapore’s home sales rose in November, extending gains for a year that is already the best since 2013, as developers marketed more projects. Developers sold 785 units in November, up from a revised 760 in October, according to Urban Redevelopment Authority data. Singapore’s property market is turning around, with home prices climbing again after a record run of declines ...

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Saudi real estate firm unveils AED800 million Dubai project

DUBAI / Reuters Major Saudi Arabian real estate developer Dar Al Arkan plans a project in Dubai and is considering whether to invest in Morocco and Europe as it begins to expand internationally, its chairman Yousef al-Shelash told Reuters on Tuesday. “We have a good opportunity now to grow outside Saudi because we have the cash, we have the capability,” ...

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DLD holds real estate roadshow in Baku

Dubai / Emirates Business Dubai Land Department (DLD) has arrived in Baku as part of its real estate roadshow, which was organised by the Real Estate Investment Management and Promotion Center, the department’s investment arm. The capital of the Republic of Azerbaijan in the latest stop of the international roadshow, which aims to encourage real estate investment in Dubai across ...

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Chinese billionaire plans IPO of $12bn property arm

Bloomberg Chinese billionaire He Xiangjian, who founded the world’s largest appliance maker Midea Group Co., is planning an initial public offering of his real estate business, according to people with knowledge of the matter. Guangdong Midea Property Co. has been speaking with investment banks about a potential Hong Kong share sale that could take place in 2018, the people said. ...

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Dubai among ‘Top 30’ cities for commercial realty rankings

Dubai / Emirates Business Dubai breaks into the Top 30 Global Cities ranking for the first time, according to JLL’s annual Global Cities Ranking, ‘Global300’ survey focused on evaluating 300 cities that are centered around commercial real estate activity. Ranking 27th place out of the 300 cities surveyed, Dubai moved up ranking in each successive year from 36th place in ...

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DLD concludes Moscow real estate roadshow

DUBAI / WAM The Dubai Land Department (DLD) has successfully concluded its real estate roadshow and workshops in Moscow, Russia. The Real Estate Investment Management and Promotion Centre, the investment arm of DLD, oversaw the event with a delegation that was led by Majida Ali Rashid, Assistant Director General and Head of the centre. Majida Rashid said, “Dubai real estate ...

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London homes less affordable than ever at 14.5 times earnings

Bloomberg London homes are less affordable than ever before, despite slowing price growth and government attempts to cut the cost of housing for first-time buyers. It now costs the average Londoner 14.5 times their annual salary to purchase a home, the highest level on record, according to a report by researcher Hometrack. Cambridge, Oxford and the English seaside town of ...

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Hong Kong housing market shows no signs of cooling

Bloomberg Hong Kong’s red-hot housing market shows no signs of cooling anytime soon. Prices in the city have climbed 11 percent this year, defying skeptics waiting for the bubble to burst and government attempts to rein in the world’s most expensive housing market through a raft of taxes and mortgage curbs. If anything, the frenzy has intensified in recent months ...

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DREI launches second edition of ‘Gulf real estate awards’

Dubai / Emirates Business The Dubai Real Estate Institute (DREI), the educational arm of Dubai Land Department (DLD), and Awards International, have announced the launch of the second edition of the Gulf Real Estate Awards, which targets all companies operating in the real estate sector in the GCC. The awards programme follows the directives of His Highness Sheikh Mohammed bin ...

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