Real Estate

Bloomberg Vancouver, one of the hottest housing markets in North America, is getting a little tougher for wealthy Chinese buyers. British Columbia Finance Minister Carole James announced measures targeting foreign buyers and speculators in the first budget since her government was elected on a pledge to make housing more affordable for residents of Canada’s Pacific Coast province. Starting from February ...

Bloomberg A spate of enbloc sales, coupled with a rebound in the property market at the start of the year, may indicate that Singapore developers will be more cautious in adding to landbanks and about their pricing strategies, analysts say. Collective apartment sales in the first two months of 2018 totaled over $2.4 billion, almost twice the S$1.66 billion seen ...

Dubai / Emirates Business Azizi Developments, one of the leading private developers in the UAE, has announced that the Azizi Plaza Serviced Apartments will be delivered ahead of schedule in Q2 2018. Launched in October 2016, the AED 430mn Azizi Plaza will offer a total of 434 fully serviced and furnished apartments comprised of 286 studios, with 46 one-bedroom units ...

DUBAI / WAM Dubai’s Damac Properties reported a total revenue of AED7.5 billion, a 4 percent increase over last year and net profit of AED2.8 billion, according to the company’s financial results for year ended 2017. Damac also announced that it has delivered 20,236 units as of December 31, 2017, marking a milestone for the company and the industry as ...

Dubai / WAM Emaar Properties recorded a net operating profit of AED 5.704 billion during full-year (January to December) 2017, a growth of 16 percent over the FY 2016 net operating profit of AED 4.917 billion. Total revenue for FY 2017 increased by 21 percent to AED18.812 billion, over FY 2016 revenue of AED 15.540 billion. In 2017, Emaar successfully ...

DUBAI / Emirates Business Emaar Development PJSC, the UAE build-to-sell property development business majority-owned by Emaar Properties PJSC recorded a growth in net profit during full-year (January to December) 2017 by 30 percent to AED2.74 billion ($747 million), compared to the net profit of AED2.11 billion ($575 million) in year 2016. Total revenue for FY 2017 was AED 8.86 billion ...

Bloomberg Singapore housing prices may rise as much as 10 percent this year, following a pickup in home sales, the chief executive officer of Southeast Asia’s biggest developer said. “Transaction volume has gone up and usually that’s a precursor to some price increase,” Lim Ming Yan, the president and CEO of CapitaLand Ltd., said in an interview in Singapore. “A ...

Bloomberg Chinese developers are driving convertible bond sales in Hong Kong as analysts warn of a stock price correction. Seven Chinese companies have sold HK$41.8 billion ($5.3 billion) of the hybrid securities this year, surpassing previous full-year totals, according to data compiled by Bloomberg. Led by China Evergrande Group’s record sale this week, five developers have priced convertibles, which typically ...

Dubai / Emirates Business Dubai Land Department (DLD) announced a new cooperation and strategic partnership agreement with Medallion Associates LTD. The agreement was signed by His Excellency Sultan Butti bin Mejren, Director General of DLD, and Masood Al Awar, Chairman and CEO of Medallion Associates LTD, in the presence of senior officials from the two companies and a number of ...

DUBAI / Emirates Business Off-plan real estate transactions in Dubai increased 60% in 2017, compared to 2016, according to the latest Observer: Dubai Q4 2017 report from leading international property company Chestertons MENA. The figures follow a steep increase in the volume and value of off-plan transactions in the second half of the year, with Dubailand, Business Bay and Al ...