News Archive: 2009

18, 2009 December:

France finally gets 5 star

A cliched recipe for success is to aim for the stars. France's luxury hotels say they need to reach for just one more - the world's largest tourism destination has introduced a five-star category to its hotel ranking system and the country's gilded establishments are flocking to apply, believing the upgrade will reel in higher rollers...

14, 2009 December:

What's next for UK commercial?

Cautious real estate investors should resist the temptation to join a stampede for UK commercial property in 2010 as the market treads a precarious path between a new boom or a second bust...

11, 2009 December:

Dubai: Sinking fund

2009 has undoubtedly been an annus horribilis for Dubai - not only has the once glittering empire been hit hard by the global credit crisis and the billions of dollars of debt, now comes news that one of its most iconic developments could be sinking into the sea...

Dubai merger called off

The merger between Dubai Holding, one of the emirates' biggest holding companies and Emaar Properties, developer of the world's tallest skyscraper, has been called off...

10, 2009 December:

Gatwick expansion plans still on

A second runway could still be built at Gatwick after an all-party committee of MPs said the plans should be resurrected instead of expanding Stansted...

09, 2009 December:

King saves his pennies

King Sturge's partners gave up half of their remuneration last year so that the money could be retained for use as working capital - the foregoing of nearly £10m in the year to 30 April 2009 came after a similar amount was retained in the previous year, equivalent to 30% of that year's remuneration for partners...

08, 2009 December:

Japan developer looks abroad

The number of new properties set to be built in Japan next year could drop to a 48 year low as economists warn of a double dip recession- not only is the economy likely to be sluggish but fewer young couples are buying houses, according to Takeo Higuchi, chief executive of Daiwa House Industry, Japan's largest house builder...

UK commercial looking strong

Strong demand and supply shortages has reversed eight months' of yield compression for prime UK commercial property assets as bank also reduce their exposure to commercial real estate debt, new reports show...

04, 2009 December:

Commercial defaults double

The amount of commercial property loans in the UK which are in default doubled in the first half of 2009, according to the latest De Montfort bank lending survey...

Fund to buy Dubai distressed properties

An Irish property firm has launched a fifteen million dollar fund to take advantage of the downturn in the Dubai real estate market and buy back properties from investors...