Real Estate

Brookfield keeps mum over IPO

Brookfield keeps mum over IPOBrookfield Multiplex Ltd. has made no statement regarding its IPO till now. On one hand, it has not accepted it, on the other it has not denied speculations that the company is trying to list its office properties.

As per the rumors going on in the market, the firm is looking forward to raise $4 billion by listing its assets during the current year.

Home Mortgage Approvals Climb to Two-Year High in December

Uk-Mortgage-ApprovalsAs has been confirmed by official reports and figures, the number of approvals awarded for residential property mortgages during December of 2009 managed to double as compared to the previous year, and raced ahead to hit the highest recorded figure of approvals in over 2 years.

U.S. Home Sales Witnesses a Record Drop as Tax Credit's Boost Wanes

New-Home-SalesSales of previously owned U. S. homes reported a record breaking drop last month as the boost from a popular tax credit waned, reducing more than expected after lawmakers gave buyers additional time to use a tax credit.

"Today's numbers clearly indicate that the rebound in housing demand observed so far has been largely supported by government programs and therefore that the recovery is far from becoming self-sustaining", said Anna Piretti, an economist at BNP Paribas in New York.

Godrej Properties plans to launch IPO at Rs 490 per share

godrej-propertiesGodrej Properties, promoted by Godrej Industries Ltd and Godrej & Boyce Manufacturing Company Ltd, has fixed the issue price for its initial public offering (IPO) at Rs. 490 per share in order to raise Rs. 460 crore.

DE Shaw sells 36% stake in DLF Asset

DE Shaw sells 36% stake in DLF AssetDE Shaw, a hedge fund based in New York, has announced to sell its 36 per cent stake in DLF Asset (DAL) to K P Singh and his family, the promoters of realty firm DLF. The transaction worth $500 million left DE Shaw with only a four per cent stake which is also likely to be sold off after its listing in Singapore.

RBI to Study Impact of Dubai Crisis

Dubai World WorriesThe Reserve Bank of India has started the process to study the impact of Dubai World crisis on Indian economy, asking lenders to give details of their exposure to Dubai World.

Speaking to reports in Hyderabad, RBI Governor Duvvuri Subbarao, added, "I have requested our officers to study this. If necessary, we will certainly communicate in the public what the implications might be."

Smart City Kochi facess Financial Road-block

Smart City Kochi facess Financial Road-blockSmart City Dubai, a subsidiary of TECOM Investments, is mulling to construct a $316m IT super city in India following a local government official suggested the project had hit financial problems.

Mahindra Lifespace plans to construct residential community

Mahindra Group promoted Mahindra Lifespace Developers has formed a JV (Joint Venture) with Arch Capital in order to build residential community at its SEZ- Mahindra World City near Chennai.

The residential community project named ‘Aqualily’ will cover 55-acre of land and will possess 760 units, of which 610 will be apartments and the rest twin homes and villas.

Auckland house prices shoot up 6%

Real-EstateRising conditions of the economic market and shortage in houses, pushed average sale prices in Auckland to a 22-month high in October as reported by real estate agency Barfoot & Thompson.

Average sale prices rose in every passing month and stood at $544,745 in October.

Omaxe arm inks pact with Lucknow Development Authority

Omaxe, the property and construction company has informed that its subsidiary has signed an agreement with the Lucknow Development Authority to develop a township in Lucknow.

The company stated in a communiqué that Garv Buildtech Private Ltd, a subsidiary of the company, has entered into a memorandum of understanding to develop township in Lucknow.

The proposed township, which is executed in phases over a period of five to seven years, is expected to yield estimated revenue of over Rs 2800 crore.