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GPR 250 Europe Index closes 4.4pct lower in November

Posted on 02 December 2011 by Laxman  |  Email |Print

The European listed property sector - as represented by the GPR 250 Europe Index - finished October 4.4% lower in November, eating into the 6.2% return booked the previous month.
Apart from Belgium (0.6%), the individual country market performances were all in negative territory. Spain and Italy were the worst performers………………………………………..Full Article: Source

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Empire State Building’s controlling owner Malkin may go public as a REIT

Posted on 30 November 2011 by Laxman  |  Email |Print

The company that controls the Empire State Building, the landmark 102-story skyscraper in midtown Manhattan, may file to become a publicly traded real estate investment trust in about three months.
Malkin Holdings LLC, supervisor of the company the holds the title to the tower, has “embarked on a course of action” that could result in it becoming part of a new REIT (BBREIT), Empire State Building Associates LLC said in a regulatory filing today. Documents may be filed with the Securities and Exchange Commission in about three months, according to the filing……………………………………….Full Article: Source

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Malaysia’s Pavilion Reit prices $228 mln IPO

Posted on 24 November 2011 by Laxman  |  Email |Print

Malaysia’s Pavilion Real Estate Investment Trust is set to raise M$710 million ($228 million) from its initial public offering after fixing the price at the top of the range at M$0.90 per unit for institutional investors, according to sources.
The retail tranche, which accounts for 4.4% of the deal, was priced at M$0.88 per unit………………………………………..Full Article: Source

India: No relief in sight for realty companies

Posted on 17 October 2011 by Laxman  |  Email |Print

The plight of realty firms is going from bad to worse with each passing quarter. That’s reflected by the BSE Realty index, which has plunged 53% in the past one year, more than the Sensex, which fell around 17%.
About a dozen rate hikes by the Reserve Bank of India (RBI) since March 2010 has hit the realty firms more than any other industry. Costly retail loans have resulted in a slowdown in sales of residential property……………………………………….Full Article: Source

Economy threatens listed real estate in Europe

Posted on 14 October 2011 by Laxman  |  Email |Print

Growth is slow in the listed real estate market in Europe, according to Stephane Larsen, portfolio manager with Presima. He spoke with REIT.com at the European Public Real Estate Association’s annual conference in London in early September and said the general economic environment is the biggest threat to European investors.
However, he added that Presima won’t avoid any particular markets because they are negative on that market. Instead, he said it will be reflected in the pricing………………………………………Full Article: Source

Investors check out of real-estate stocks

Posted on 05 October 2011 by Laxman  |  Email |Print

For much of the past two years, real-estate stocks outperformed the broader stock market. But that trend ended during the fall as investors grew increasingly fretful that a weak global economy would sap demand for commercial space.
The Dow Jones All Equity REIT Index, which tracks the stock of 130 companies, posted a negative 15% total return during the third quarter, an about-face from the second quarter when the REIT index registered a 2.9% gain……………………………………….Full Article: Source

European listed property returns -8.2pct in September: GPR

Posted on 04 October 2011 by Laxman  |  Email |Print

European listed real estate, as represented in the GPR 250 Europe index, remained in negative territory (-8.2%) in September, following a 8.7% loss in August.
The individual country indices performances were as follows: Turkey 8.9%; Israel 3.7% (= Gazit Globe); Switzerland 1.9%; Poland -2.6% (= GTC); Germany -2.8%; Belgium-4.2%;………………………………………Full Article: Source

Real estate equity-raising falls by 4pct as investors target Asia – DTZ

Posted on 29 September 2011 by Laxman  |  Email |Print

A report published this week suggests funds are now deploying capital already raised amid a global slowdown in equity-raising.
Capital available to invest in real estate in 2012 has fallen 4% from the end of last year to $316bn (€323bn), according to DTZ’s latest ‘Great Wall of Money’ report……………………………………….Full Article: Source

Hong Kong real estate sales rebound

Posted on 14 September 2011 by Laxman  |  Email |Print

Local property transactions regained momentum over the weekend amid anticipation of developers putting more new flats on the market.
70 out of 170 mainland real estate companies listed on Hong Kong’s stock market have been proved to be making profit while the rest are struggling with limited capital. Many middle and small sized companies, especially those which didn’t get the chance to build government subsidized housing, are now facing huge challenges in maintaining profit margins. Manager Ding Lei says his company, Zhangjiang Real Estate, is one of them……………………………………….Full Article: Source

The time for German listed property has come

Posted on 12 September 2011 by Laxman  |  Email |Print

Can German investors stop worrying and learn to love listed property?
European Public Real Estate Association (EPRA) chief executive Philip Charls believes German listed property’s time has come. At the organisation’s conference this month, he claimed Germany could be at the forefront of European listed real estate, doubling its market cap over the next five years……………………………………….Full Article: Source

Listed real estate yields will fall, but overall outlook improve, says Urdang

Posted on 08 September 2011 by Laxman  |  Email |Print

Leverage will continue to fall in the global real estate securities market, bringing down yields but lifting the sector’s overall outlook, particularly in Asia and selected European markets like Germany, according to Urdang.
Alan Supple, portfolio manager at BNY Mellon Asset Management’s global real estate investment specialist, said: “Markets generally have entered a lower return, less leveraged environment.”………………………………………Full Article: Source

European property stock values reflect Eurozone break-up fears

Posted on 02 September 2011 by Laxman  |  Email |Print

Listed real estate companies located in peripheral Eurozone countries, or with sizeable exposure to those markets, are being punished by investors, new research presented at the European Public Real Estate Association’s (EPRA) annual conference on Thursday shows. The stock values of these companies reflect fears the currency bloc may disintegrate, the research reveals.

The average discount to NAV for companies located in the PIGS (Portugal, Italy, Greece and Spain) was 48% and for those with a sizeable exposure to these markets 22%……………………………………….Full Article: Source

EPRA: German listed real estate has greatest expansion potential in Europe

Posted on 02 September 2011 by Laxman  |  Email |Print

Strong emerging trends in Germany’s property investment market means the country could contribute the greatest share of a potential doubling in the market capitalization of the European listed real estate sector over the next five years, said Philip Charls, Chief Executive of the European Public Real Estate Association (EPRA), at the industry body’s annual conference on Thursday (September 1, 2011).
Philip Charls EPRA CEO said: “Germany’s listed real estate sector has huge potential for growth as investors increasingly come to realize the attractiveness of the listed model……………………………………….Full Article: Source

US real estate to outshine ‘risky’ stockmarket

Posted on 15 August 2011 by Laxman  |  Email |Print

US commercial real estate will perform better than the country’s volatile sharemarket during the current economic downturn because investors value its intrinsic quality, according to a new CB Richard Ellis report. The study analysed the effect on commercial real estate of the US economic slowdown, the S&P downgrade of the US credit rating and turmoil in the global financial markets.

”While we anticipate continued stockmarket volatility, commercial real estate will not fare as poorly because it remains a preferred asset class, within a well diversified multi-asset institutional portfolio,” said Asieh Mansour, CBRE’s head of Americas Research……………………………………….Full Article: Source

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Real-estate website Zillow surges in IPO

Posted on 21 July 2011 by Laxman  |  Email |Print

Shares of Zillow, a real-estate website that aspires to become the Amazon.com of home shopping, more than doubled in value in their first day of trading on Wednesday.
Zillow shares were trading for $43.40 on the Nasdaq stock exchange at 1600 GMT, a leap of 117 percent from their opening price of $20……………………………………….Full Article: Source

Zillow prices IPO above range

Posted on 20 July 2011 by Laxman  |  Email |Print

Real estate and housing data company Zillow Inc priced its initial public offering of 3.5 million shares at $20 apiece, raising 18 percent more than expected through the offering.
It would have raised about $59.5 million in proceeds from the IPO, when calculated at its previously announced price range of $16-$18 a share……………………………………….Full Article: Source

Zillow real estate value website sets IPO price

Posted on 07 July 2011 by Laxman  |  Email |Print

Startup Zillow that provides online information about real estate has set the price for its initial public offering of stock at $12 to $14 per share.
Zillow planned to sell 3.462 million shares of common stock, which would raise from $41.5 million to $48.5 million depending on share price, the firm said in a filing Wednesday with the US Securities and Exchange Commission……………………………………….Full Article: Source

India realty IPO pipeline blocked; await correction boost

Posted on 30 June 2011 by Laxman  |  Email |Print

Rising mortgage rates and a widely anticipated price correction has seen demand curl up in India’s once hot property market, burning realty stocks and blocking a $4 billion pipeline of initial public offerings.
About a dozen realty firms have been seeking to raise funds through IPOs to repay debt and finance land purchases……………………………………….Full Article: Source

Germany’s Prime Office lowers sights on IPO

Posted on 29 June 2011 by Laxman  |  Email |Print

German property firm Prime Office has put a stock market flotation back on the agenda with an issue price well below initial plans.
The company, which put its initial public offering (IPO) on hold last week due to volatile market conditions, set the issue price at 6.20 euros on Tuesday, compared with a previous range of 7.00 euros to 9.50 euros……………………………………….Full Article: Source

Real estate’s in the tank? Not in the land of IPOs

Posted on 23 June 2011 by Laxman  |  Email |Print

It’s been what my grandmother would call “a month of Sundays” (i.e., a long, long time) since we’ve heard of a local housing market that wasn’t in the doldrums. In fact, much of the country is now officially in the double-doldrums, according to the most recent S&P Case-Shiller National Home Price Index, which revealed that in the first quarter, national home prices hit a new recession low.
Yes, even lower than they were at their previous 2009 trough. This spring, even real estate markets that had been relatively recession-proof at the beginning of the bust, like those in Minneapolis and Seattle, took dives late in the game, causing the New York Times to doomsay “another season of pain.”………………………………………Full Article: Source

Asia’s property IPO market may slow: HSBC

Posted on 23 June 2011 by Laxman  |  Email |Print

Asia’s property IPO market may slow down for the rest of the year as governments move in to cool property prices and equity markets turn sluggish, a senior executive at HSBC said.
“I don’t expect a lot of straight equity to be raised by developers for the remainder of this year if valuations stay where they are,” Jason Kern, managing director and head of real estate and lodging advisory for Asia-Pacific at HSBC, told the Reuters Real Estate and Infrastructure Summit in Singapore……………………………………….Full Article: Source

Untapped potential in German listed real estate

Posted on 21 June 2011 by Laxman  |  Email |Print

Philip Charls, CEO of the European Public Real Estate Association (EPRA), spoke with REIT.com during REITWeek 2011: NAREIT’s Investor Forum about the publicly listed European commercial real estate market.
The last time Charls spoke with REIT.com, the market was in the midst of recovering from the global economic recession. That has changed, as many regions are now focused on growth, he said……………………………………….Full Article: Source

GPR European index returns 3.4pct in May

Posted on 02 June 2011 by Laxman  |  Email |Print

European listed real estate, as represented in the GPR 250 Europe Index, finished 3.4% higher in May. This follows on from a performance of 3.6% in April.
The best performing country indices were Switzerland 7.5%; Norway (Norwegian Property) 6.9%; the UK 4.8%; France 4.6% and Finland 3.4%……………………………………….Full Article: Source

Optimism builds in Egyptian property sector

Posted on 31 May 2011 by Laxman  |  Email |Print

Shares in Egyptian property companies may have been down but they are not out. The sector has borne the brunt of a string of corruption probes, placing many property companies under fire in the aftermath of the revolution that ousted Hosni Mubarak, the president. At the heart of legal wrangles are conflicting laws governing the sale of state land.
But a series of positive catalysts have prompted investors to return to the market and prop up share prices in what have been seen as underperforming stocks for much of this year……………………………………….Full Article: Source

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Euro listed property could double in size over next five years

Posted on 27 May 2011 by Laxman  |  Email |Print

The European listed real estate sector which is only a small fraction of the investable market has the potential to double in size over the next five years This as banks look to offload distressed property assets held on their books and private investors turn to attractive REIT structures to realize the value of their investments, the Head of Research at the European Public Real Estate Association (EPRA) told a seminar at the Realty 2011 trade fair yesterday (May 25, 2011).
Fraser Hughes, Head of Research at EPRA said: “A number of opportunities are converging that have the potential to double the current €300 billion market capitalization of the European listed real estate sector over the next five years under a best-case scenario.”………………………………………Full Article: Source

Hong Kong purchases could boost real estate sector confidence

Posted on 27 May 2011 by Laxman  |  Email |Print

Hong Kong’s entrepreneurial giants Li Ka-Shing of Cheung Kong Holdings and Henderson Land’s Lee Shau-kee have been purchasing shares in their own firms, despite government efforts to cool down the rocketing market.
“The one thing I want to point out to investors is that whenever these two titans buy at the same time, it is almost like a solar eclipse. It only happens once in a blue moon,” Robert Halili, managing director of Asia Insider told CNBC……………………………………….Full Article: Source

Prime Office plans to list as G-REIT

Posted on 24 May 2011 by Laxman  |  Email |Print

Germany’s Prime Office said on Monday that it is planning to launch an Initial Public Offering (IPO) on the Frankfurt and Munich stock exchanges this summer beforing converting to a tax-transparent real estate investment trust (REIT).
Prime Office will thereby become the fourth German-REIT(G-REIT) after Alstria Office, Fair Value and Hamborner……………………………………….Full Article: Source

Malaysian property firm eyes $1.7 bln IPO

Posted on 11 May 2011 by Laxman  |  Email |Print

A Malaysian property developer plans to list the Pavilion Kuala Lumpur development whose assets are worth up to 5 billion ringgit ($1.7 billion), in what could be the country’s largest IPO of a real estate investment trust, the Business Times newspaper reported on Wednesday.
The report quoted unnamed sources as saying that Desmond Lim Siew Choon, who controls property developer Malton Bhd , could list Pavilion as early as end-2011. CIMB Investment Bank , Credit Suisse and Maybank Investment are handling the deal, it said……………………………………….Full Article: Source

Carrefour defers Property IPO, French chief leaves

Posted on 06 May 2011 by Laxman  |  Email |Print

Europe’s largest retailer, Carrefour, said on Thursday it had asked its board to defer the planned listing of a 25 percent stake in real estate unit Carrrefour Property.

The group said it would stick to its plans to spin off 100 percent of Spanish discount unit Dia, however……………………………………….Full Article: Source

European property stocks return 3.6pct in April

Posted on 03 May 2011 by Laxman  |  Email |Print

European listed real estate, as represented in the GPR 250 Europe Index, ended April 2.6% higher, with the strong performance being driven by UK stocks. On a country by country basis, the UK topped the ranking with an increase of 5.9% in April, while Norway came second returning 5.5% in the same period.
Switzerland, Italy and Turkey rose 5%, 4.2% and 4% respectively last month, while France, the Netherlands, Sweden, Austria, Germany and Belgium all remained in positive territory returning between 2.7% (France) and 1% (Belgium) in the past month……………………………………….Full Article: Source

India: Concerns among PE firms over enforcing realty share pledges

Posted on 02 May 2011 by Laxman  |  Email |Print

The pledging of shares is a mechanism through which an investor or a lender can ensure a company or a borrower delivers a promised return or repays a loan within the stipulated period. When the company defaults on the pledge, the shares are sold.
PE funds that focus on real estate have got such pledged shares from their portfolio companies……………………………………….Full Article: Source

India: Realty stocks will rebound in two years: Macquarie

Posted on 28 April 2011 by Laxman  |  Email |Print

India’s real estate stocks have attractive valuations after plunging 83% from their peak and are likely to rebound within two years, according to Macquarie Group.
India’s real estate industry is grappling with rising borrowing costs, shrinking access to credit and a decline in demand as record prices make homes unaffordable. The Bombay Stock Exchange’s 14-stock Realty Index has dropped from its peak in January 2008, while the benchmark Sensitive Index surged to a record last November………………………………………Full Article: Source

Favorable economic and business environment for global listed real estate companies in 2011

Posted on 20 April 2011 by Laxman  |  Email |Print

Ernst Jan de LeeuwThe global economic and business environment is likely to be favourable to global real estate companies for the remainder of 2011, LaSalle Investment Management (Securities) said in its recently-released Quarterly Review and Outlook.
Ernst Jan de Leeuw, Head of European Securities, LaSalle Investment Management, said, “The resilience of the world’s economy is an important factor in the strength of investment markets in most parts of the world today……………………………………….Full Article: Source

Property futures exchange coming to CBOE

Posted on 20 April 2011 by Laxman  |  Email |Print

The Chicago Board Options Exchange is going to offer a property-linked futures exchange, using Radar Logic real estate indexes, the two firms announced Tuesday. Daily house prices across the top 25 metropolitan statistical areas are already available on the Radar Logic Residential Property Index.
CBOE will now list tradable residential property futures and options contracts based on those RPX values……………………………………….Full Article: Source

Russian property developer Etalon raises $575 mln in public offering

Posted on 18 April 2011 by Laxman  |  Email |Print

Etalon Group Ltd., a developer that builds high-rise apartment blocks in Moscow and St. Petersburg, raised $575 million in an initial public offering and will use most of the proceeds to buy land.

Etalon sold 82.1 million global depository receipts for $7 each in the London share sale, the St. Petersburg-based company said in a statement today. That was at the bottom of the $7 to $9 range used to canvass investor interest in the stock. Etalon is expected to list on the London exchange on April 20………………………………………Full Article: Source

New York real estate icon may go public

Posted on 14 April 2011 by Laxman  |  Email |Print

Stock market investors in the US may soon be able to buy a stake in the Empire State Building, as its owners consider making the iconic skyscraper the centrepiece of a real estate investment trust, it has been reported.
The 80-year-old, 1,454ft-tall Art Deco building is the jewel in the property portfolio of New York magnate Peter Malkin and his son Anthony, whose other assets include buildings near Grand Central railway station and in New York’s upscale Westchester county……………………………………….Full Article: Source

Hui Xian REIT seeks $1.7 bln in IPO

Posted on 11 April 2011 by Laxman  |  Email |Print

Hui Xian Real Estate Investment Trust, the Beijing-focused real-estate investment trust controlled by Hong Kong tycoon Li Ka-Shing, plans to raise up to 11.2 billion yuan ($1.7 billion) from its Hong Kong listing, in what is set to be the first yuan-denominated initial public offering outside mainland China.
The listing plan of Hui Xian REIT, part of Mr. Li’s flagship Cheung Kong Holdings Ltd., comes less than a month after the Hong Kong tycoon raised US$5.4 billion from a Singapore listing of Hutchison Port Holdings Trust, which owns deep-water ports in Hong Kong and China……………………………………….Full Article: Source

Real estate IPOs may be limited by REIT acquisitions, AvalonBay CEO says

Posted on 08 April 2011 by Laxman  |  Email |Print

Initial share sales by property owners may be limited this year as publicly traded real estate investment trusts acquire companies that planned to list stock, said Bryce Blair, head of AvalonBay Communities Inc. (AVB)

“We’ll see far fewer IPOs than people think,” Blair, chairman and chief executive officer of Arlington, Virginia- based AvalonBay, said today at a conference in Manhattan. “It’s going to be more private selling to existing public, than private to public.”……………………………………..Full Article: Source

U.S. property M&A to be active, IPOs not so much

Posted on 07 April 2011 by Laxman  |  Email |Print

Jackson HsiehU.S. real estate merger and acquisition activity has rebounded strongly this year and is likely to keep percolating, investment bankers at the Reuters Global Mergers and Acquisition Summit said on Wednesday.

But megadeals or large initial public offerings of private companies such as Hilton Hotels or apartment owner Archstone are not likely to appear this year, they said……………………………………..Full Article: Source

Europe: Property stocks may gain from ECB rate rise

Posted on 06 April 2011 by Laxman  |  Email |Print

With the European Central Bank likely to raise short-term interest rates this week for the first time in three years, the era of cheap money on the Continent appears to be coming to a close. But for property owners, there could be a positive short-term impact. At times of rising inflation, investors looking for a safe haven tend to turn to tangible assets such as real estate.

“As we move from a world of falling inflation to one in which rising inflation is something investors should worry about, I see real estate playing a protective role,” said John Lutzius, head of the European office of boutique research firm Greenstreet Advisors in London……………………………………..Full Article: Source

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Russia’s Etalon targets up to $650 mln from IPO

Posted on 05 April 2011 by Laxman  |  Email |Print

Russian real estate developer Etalon Group aims to raise up to $650 million from its London IPO, more than previously stated and valuing the company at as much as $2.51 billion.

Etalon, which builds residential property in Moscow and St Petersburg, said in a statement on Monday a sale of new shares would raise $500 million, while existing shareholders would sell stock to raise another $150 million……………………………………..Full Article: Source

India: Real estate: More pain to come

Posted on 25 March 2011 by Laxman  |  Email |Print

This week has been a good one for investors in real estate shares, who had seen their investments lose 30%-55% in value over the past six months in the wake of a number of corruption allegations involving the sector.
While most real estate stocks are now cheaply priced, there are still risks facing the sector and investors should not expect more gains in the near term at least, say analysts……………………………………….Full Article: Source

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Real-estate investor Apollo Residential plans $300 mln IPO

Posted on 22 March 2011 by Laxman  |  Email |Print

Apollo Residential Mortgage Inc. planned to sell up to an estimated $300 million of common stock in an initial public offering.
According to its filing with the Securities and Exchange Commission Monday, Apollo is a newly formed real-estate finance company meant to focus primarily on mortgage-backed securities, residential mortgage loans and other residential mortgage assets in the U.S. It is planning to become a real-estate investment trust……………………………………….Full Article: Source

German property group GSW plans IPO in Q2

Posted on 22 March 2011 by Laxman  |  Email |Print

German property group GSW said it planned to float shares on the stock exchange in the second quarter, taking a second stab at a public listing. GSW said late on Monday it plans to use proceeds from the issue, in which it aims to list shares both in Frankfurt and Berlin, to finance purchases of apartments in Berlin as well as to pay off taxes.
The announcement comes only hours after the owners of Hapag-Lloyd postponed a decision on floating the container shipping group, citing an uncertain market environment after a Japanese nuclear crisis added to existing concerns about unrest in the Middle East, roiling stock markets……………………………………….Full Article: Source

Mexican stock market gets its first real estate trust

Posted on 18 March 2011 by Laxman  |  Email |Print

The first real estate investment trust to be listed on Mexico’s stock exchange launched Thursday with an initial public offering that raised 3.62 billion pesos ($300 million).
The trust, Fibra Uno, said in a press release that it sold 185.4 million certificates at 19.50 pesos ($1.61) each. The certificates will trade like shares on the exchange……………………………………….Full Article: Source

More REITs to make debut on Singapore Exchange

Posted on 17 January 2011 by Laxman  |  Email |Print

From Todayonline.com: At least seven real estate investment trusts (REITs) that could raise around $4 billion are expected to make their debut on the Singapore Exchange this year.
Analysts expect further upside for REITs and said more of them will likely ride the momentum and issues as big as last year’s two mega-IPOs could be in the pipeline……………………………………….Full Article: Source

American Assets’ $500 mln offering launches this year’s REIT IPO market

Posted on 13 January 2011 by Laxman  |  Email |Print

From Dow Jones: The IPO market for real estate investment trusts this year is being kicked off this year by a $500 million offering from San Diego-based commercial landlord American Assets Trust Inc. (AAT).
The deal, slated to begin trading Thursday, is a good start for the REIT initial public offering market as investors clamor around the deal. Though American Assets carries a relatively modest dividend of 4.2%, analysts say it is grabbing attention because the stock is being marketed at an attractive price relative to the underlying properties, which are 95% leased and based in affluent areas of California and Hawaii……………………………………….Full Article: Source

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European listed real estate returns 17pct in 2010: GPR

Posted on 04 January 2011 by Laxman  |  Email |Print

From Propertyeu.info: European listed real estate, as represented in the GPR 250 Europe Index, finished December 8.4% higher, resulting in a 17% return for 2010.
The results of the individual country indices, with the full-year result in brackets, was as follows:………………………………………Full Article: Source

India: Battered realty stocks may get respite

Posted on 03 January 2011 by Laxman  |  Email |Print

From Indiatimes.com: The fortunes of the real estate stocks moved in tandem with the broader markets during the pre-recessionary highs as well as the lows of the recession. However, now, when the Indian economy shows strong signs of recovery and the broader markets reflect this confidence, realty stocks seem to have been left out of the rally.
In 2008, the BSE Realty index rose to its peak level of 13,647 on January 14. It sunk to its 2009 low of 1,304 on March 9 and has since only slightly risen to 2,856 as on December 31, 2010……………………………………….Full Article: Source

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China urbanization to drive demand, Zoomlion says ahead of IPO

Posted on 13 December 2010 by Laxman  |  Email |Print

From Bloomberg: Changsha Zoomlion Heavy Industry Science & Technology Development Co., which is seeking to raise as much as $2.1 billion in a Hong Kong stock sale, said urbanization in China will continue to drive demand for construction equipment.
Spending on railways, power plants and highway construction will keep growing in the next five years, with China’s accelerating economy boosting the growth prospects for the company, Senior President Zhang Jianguo said today from London via video conference……………………………………….Full Article: Source

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