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Indian property IPOs may stall after probe, top arranger says

Posted on 10 December 2010 by Laxman  |  Email |Print

From Bloomberg: India’s busiest quarter for real estate share sales in three years may falter after a corruption probe into loans to developers triggered a slide in stocks, the nation’s top arranger for initial offerings said.

“In the short-term, the real estate industry will face some headwinds,” said V. Jayasankar, head of equity capital markets at Kotak Mahindra Capital Co. in Mumbai. “When the sentiment improves and volatility subsides, the market will favor companies with strong corporate governance practices.”……………………………………….Full Article: Source

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Property derivatives struggle to grow up

Posted on 29 November 2010 by Laxman  |  Email |Print

From Efinancialnews.com: It is not easy selling property derivatives to institutions nowadays. Not only do the memories of cataclysmic falls in real estate after 2007 remain fresh in many investors’ minds – and indeed still hang around the neck of numerous banks in the US, UK, Spain and Ireland – but for those who take their lessons from Warren Buffett, derivatives will always be weapons of mass destruction.
Property derivatives suffer from another problem. They have yet to even grow out of their infancy. The instrument has just celebrated its fifth birthday and, despite receiving much fanfare, it remains a niche field…………………………………….Full Article: Source

Turkey: Real estate market is driven by IPOs

Posted on 25 November 2010 by Laxman  |  Email |Print

From Balkans.com: Turkey’s Capital Markets Board said in a recent report that initial public offerings (IPOs) are funding the country’s fast-growing real estate sector, reports Hurriyet Daily News.
According to the report, the IPOs of five real estate investment trusts in Turkey were worth TL 609.2m this year……………………………………….Full Article: Source

IPOs driving Turkey’s real estate market

Posted on 23 November 2010 by Laxman  |  Email |Print

From Hurriyetdailynews.com: Decisions by the Capital Markets Board at the beginning of the year have boosted initial public offerings from Turkish property developers as the total market value of real estate companies at the Istanbul Stock Exchange has doubled so far in 2010. The large IPOs are funding the country’s fast-growing real estate sector.
The initial public offerings by five Turkish real estate investment trusts generated more than 609.2 million Turkish Liras in 2010, according to a recent report by the Capital Markets Board, or SPK……………………………………….Full Article: Source

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Singapore: Islam-compliant REIT targets $541 mln IPO

Posted on 10 November 2010 by Laxman  |  Email |Print

From WSJ: Sabana Shari’ah Compliant Industrial Real Estate Investment Trust, or Sabana REIT, filed a prospectus with Singapore’s central bank for an initial public offering intended to raise as much as 696.1 million Singapore dollars (about $541 million), in what could be the island nation’s first Shariah-complaint listing as it seeks to grab a larger share of the Islamic finance market.
If the offering succeeds, Sabana would also be the largest listed Shariah-compliant REIT by total assets globally. Its assets are estimated at S$850 million……………………………………….Full Article: Source

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European property stocks return 3.6pct in October: GPR

Posted on 02 November 2010 by Laxman  |  Email |Print

From Propertyeu.info: European listed property stocks, as represented by the GPR 250 Europe Index, returned 3.6% in October compared to 6.7% in September. Sweden -2.1% and Spain -6.3% (= Inmobiliaria Colonial) were the only two countries with negative returns.

The best performances of the individual European country indices were as follows: Israel 11.0% (= Gazit Globe); Italy 6.0% (= Beni Stabili); Belgium 6.0%; Norway 5.9% (= Norwegian Property); the UK 5.6%; and Turkey 5.5% (= Is REIT)…………………………………….Full Article: Source

Why Chinese property is still hotter than stocks

Posted on 02 November 2010 by Laxman  |  Email |Print

From Cnbc.com: Beijing’s latest move on Sunday to charge higher mortgage rates for first time home buyers may not be enough to curb the country’s huge appetite for real estate investments, an analyst told CNBC on Monday.
“Even with the increase in mortgage (rates), those rising costs are not even keeping pace with the rise in inflation in China, which means the real interest rate that households are looking at — the ultimate real cost of capital — is actually coming down,” said Michael Kurtz, head of regional strategy at Macquarie Securities……………………………………Full Article: Source

European property stocks return 6.7pct in September: GPR

Posted on 11 October 2010 by Laxman  |  Email |Print

From Propertyeu.info: European real estate stocks as represented in the GPR 250 Europe Index registered a strong return of 6.7% in September. The strongest returns on a country index basis were in the Nordics: Sweden (19.4%); Finland (17.7%) and Norway (Norwegian Property) (10.7%).

Returns of about 7% to just under 10% were achieved by the large Western markets: France (9.9%); the Netherlands (9.5%); Italy (Beni Stabili) (9.3%); Germany (8.9%) and Austria (7.1%). Turkey, represented in the GPR indices by IS REIT, returned 8.8%…………………………………….Full Article: Source

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India: Realty firms test IPO waters again

Posted on 05 October 2010 by Laxman  |  Email |Print

From Indiainfoline.com: Take Delhi-based realty Emmar MGF Land Ltd. The company, a joint venture between Emaar Properties PJSC of Dubai and India’s MGF Development Ltd, had initially planned a massive Rs. 7,000 crore IPO 2008, but pulled out.
Oberoi, Emmar MGF pare IPO size for smooth sail BY Lalatendu Mishra Mumbai Real estate companies could finally be ready to take the plunge……………………………………….Full Article: Source

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China property stocks rated ‘cautious’ at Nomura

Posted on 04 October 2010 by Laxman  |  Email |Print

From Bloomberg: China’s property stocks were rated “cautious” in new coverage at Nomura Holdings Inc., which said there’s an increased risk of the government issuing new tightening measures.
The introduction of property tax in the “overheated” cities of Beijing, Shanghai, Shenzhen and Hangzhou as well as the “full” enforcement of the land appreciation tax will likely be among policies used to curb speculation, Alvin Wong and Sunny Tam wrote in a report today……………………………………….Full Article: Source

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India: High property prices, mortgage rates turn away buyers

Posted on 24 September 2010 by Laxman  |  Email |Print

From Indiatimes.com: High prices and rising mortgage rates are hurting demand in India’s once-booming housing market, jeopardising a pipeline of about $6 bn in initial public offerings (IPOs) from Indian property companies.
The real estate firms are seeking funds to finance land acquisitions and lock in runaway land prices but their IPOs are faced with the prospect of poor investor response……………………………………….Full Article: Source

US: Why household wealth is expected to ebb

Posted on 17 September 2010 by Laxman  |  Email |Print

From WSJ: For U.S. households, the economic recovery has been a frustrating case of two steps forward, one step back. Friday, the Federal Reserve, in its latest “flow-of-funds” report, is likely to say that household net worth fell during the second quarter, breaking a string of four prior gains.
The stock market’s weakness between April and June is expected to be a reason for the slump. The S&P 500-stock index fell nearly 13% in the second quarter after rallying 44% in the prior four quarters…………………………………….Full Article: Source

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UK: House price downturn? It’s all the same to Rightmove

Posted on 16 September 2010 by Laxman  |  Email |Print

From Citywire.co.uk: As recently as June, the talk was of Rightmove’s impending decline. Google had just dipped one of its giant toes into the UK property search market, sending a wall of water over the established portals.
Even Rightmove’s managing director, Ed Williams, was shedding stock as fast as he could, reportedly selling £8 million of shares (almost half his holding). ‘A time to short Rightmove?’ pondered more than one analyst. Rightmove’s share price was 664p……………………………………….Full Article: Source

Fund managers remain cautious on property equities funds

Posted on 10 September 2010 by Laxman  |  Email |Print

From Propertyfundsworld.com: Given the property markets’ dependence on the scale and sustainability of the economic recovery, fund managers remain cautious about the outlook for property equities funds, says Standard & Poor’s Fund Services in its latest review of the sector.
“The first six months of 2010 have proven sluggish in terms of fund performance, but property markets themselves saw some recovery at the start of the year,” says Susan Sworn, lead analyst at S&P Fund Services. “However, this has been very uneven, regionally speaking.”………………………………………Full Article: Source

European real estate firms more reactive than strategic in capital budget decisions

Posted on 07 September 2010 by Laxman  |  Email |Print

From Europe-re.com: Many European listed property companies appear to be more reactive than strategic in their major capital budget decisions when acquiring investment properties and undertaking development projects and aren’t making full use of the sophisticated analytical tools available to them, the preliminary findings of the European Public Real Estate Association’s (EPRA) first Capital Structure Survey indicate.
Colin Lizieri, Grosvenor Professor of Real Estate Finance at the UK’s Cambridge University and lead author of the survey said: “We certainly formed the impression of an industry reacting to market conditions, rather than using strategic planning, and one that is not making the best use of the analytical tools available to help it with crucial capital allocation decisions……………………………………….Full Article: Source

European listed property returns 0.4pct in August: GPR

Posted on 06 September 2010 by Laxman  |  Email |Print

From Propertyeu.info: European listed real estate shares, as represented by the GPR 250 Europe Index, delivered a modest return of 0.4% in August. On a country-by-country basis, Greece, represented in the index by Babis Vovos, was the strongest performer (14.3%).
Switzerland was in second place on 6%……………………………………….Full Article: Source

European listed real estate sector to expand via acquisitions and IPOs

Posted on 06 September 2010 by Laxman  |  Email |Print

From Propertyfundsworld.com: The European real estate equities sector is well positioned for a strong expansion over the next few years via acquisitions and initial public offerings.
The resilience of the listed Reit model, in terms of access to capital, has proved to be more robust than non-listed property funds in the credit crisis, brokers Kempen concluded in a research paper presented to journalists at the European Public Real Estate Association’s annual conference………………………………………..Full Article: Source

European listed firms ‘reactive’ in capital budget decisions

Posted on 03 September 2010 by Laxman  |  Email |Print

From Propertyeu.info: Many European real estate listed property companies appear to be more reactive than strategic in their major capital budget decisions when acquiring investment properties and undertaking development projects, the annual conference of the European Public Real Estate Association (EPRA) has heard.
These companies are not making full use of the sophisticated analytical tools available to them, said Colin Lizieri, author of the survey and Grosvenor professor of real estate finance at Cambridge University in the UK……………………………………….Full Article: Source

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European property stocks may gain 20pct, JPMorgan says

Posted on 03 September 2010 by Laxman  |  Email |Print

From Bloomberg: European real commercial estate shares may rise as much as 20 percent over the next year as investors buy stocks currently trading more than 25 percent below the value of company assets, JPMorgan Chase & Co. said.
Land Securities Group Plc, Capital & Counties Properties Plc and Alstria Office REIT-AG, JPMorgan’s top picks, may gain as much as 30 percent over the period, London-based analysts including Harm Meijer said in their annual property handbook published today……………………………………….Full Article: Source

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Germany will become major source of property IPOs: Epra

Posted on 03 September 2010 by Laxman  |  Email |Print

From Propertyeu.info: Germany is likely to be a ‘future major source’ of real estate IPOs, the European Public Real Estate Association’s annual conference in Amsterdam heard on Thursday.
Dick Boer, director of property research at Dutch merchant bank Kempen, said that the European listed sector is well positioned for strong expansion in the next few years via acquisitions and IPOs……………………………………….Full Article: Source

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Europe: Widening real estate’s capital-raising base

Posted on 01 September 2010 by Laxman  |  Email |Print

From Propertyeu.info: One very important lesson to emerge from the recent financial crises has been the need to reduce the over-reliance of the European property sector on bank lending as a primary mechanism for capital-raising.
This situation has created significant problems for the banking sector in a number of European countries. In Ireland, for example, it has led to the full nationalisation of one bank and the creation of a special-purpose agency to deal with problems of distressed real estate assets, Éamonn D’Arcy writes in the September edition of Property EU Magazine……………………………………….Full Article: Source

Global property securities are set to outperform as austerity kicks in

Posted on 27 August 2010 by Laxman  |  Email |Print

From Investmentweek.co.uk: Global property securities have performed well in 2010. The UBS Global Property Investors Index rose by 11.2% in sterling terms, compared to 0.5% of the MSCI World Index.
Global listed property outperformed as investors remained positive about the long-term prospects of the asset class, which should benefit from economic recovery, low interest rates and urbanisation trends in emerging markets……………………………………….Full Article: Source

India: Investors prefer realty market over MFs for quick buck

Posted on 23 August 2010 by Laxman  |  Email |Print

From Indiatimes.com: Over the last four years, more and more of the HNIs have been drawn to properties. They don’t get into cash deals, broker-dealings and paper work — the messy side of real estate transactions. Instead, they ask real estate fund managers to grow their money.
Their message to fund managers is simple: “first, don’t buy listed stocks, go for unlisted builders; second, pick those property firms with projects in Mumbai and Delhi, the hottest markets.” Around 15 local real estate funds are today managing Rs 10,000-12,000 crore. That’s as big as the portfolio management business of stock brokers…………………………………….Full Article: Source

Hong Kong property shares slump

Posted on 17 August 2010 by Laxman  |  Email |Print

From WSJ: Shares in Hong Kong’s property companies slumped Monday following the government’s latest moves Friday to rein in the surging real-estate market.
Separately, the Hong Kong government said Monday it will put two sites up for sale in an auction on Sept. 29, potentially adding more supply to the market……………………………………….Full Article: Source

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India: Should real estate stocks still be shunned?

Posted on 16 August 2010 by Laxman  |  Email |Print

From Thehindubusinessline.com: Avidly chased in 2007 and unceremoniously dumped in 2009 — this best describes the market’s relationship with real estate stocks. From massive IPO subscriptions and lofty double-digit valuations afforded to companies in this space in 2006-07, the real estate sector has now been exiled from institutional portfolios, with many fund managers guardedly declaring they do not hold any real estate stocks.

A 6 per cent decline in sales and 40 per cent decline in net profits for about 30 mid and large-cap real estate companies in 2009-10 may only seem to reinforce the market’s apathy to the sector…………………………………….Full Article: Source

European listed sector books 7.8pct return in July: GPR

Posted on 04 August 2010 by Laxman  |  Email |Print

From Propertyeu.info: European listed real estate won ground in July and booked value growth of 7.8% in the GPR 250 Europe Index.
Returns for the individual European country indices was as follows: Greece (= Babis Vovos) 51.9%; Austria 14.1%; Finland 13.4%; Norway 10.2% (= Norwegian Property); France 9.4%; Netherlands 8.2%; Germany 8.2%; Sweden 7.8%; and Poland 7.1% (= GTC)……………………………………….Full Article: Source

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India: Realty sector on shaky ground

Posted on 03 August 2010 by Laxman  |  Email |Print

From Business-standard.com: Upcoming festivals could boost volumes, but higher prices, interest rates are stumbling blocks. The June quarter results of listed realty players have been a mixed bag.
While it reflects a gradual pick-up in demand in select regions, led by an improving economy and increased hiring and salary revisions – especially in the IT/ITeS sector – key markets like Mumbai have seen demand contract due to a jump in property prices……………………………………….Full Article: Source

Waiting for Beijing to turn real estate around

Posted on 19 July 2010 by Laxman  |  Email |Print

From WSJ: Now that China’s property market finally appears to be cooling, is it time to buy property stocks? The question may seem surprising. A 0.1% on-month fall in Chinese property prices, across 70 major cities, is likely just the beginning of a significant drop to come.
But the logic to a buy call on property company shares goes like this: The share prices have taken a hammering in recent months, to the point where the potential bad news for the sector is factored in……………………………………….Full Article: Source

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India: Reality check on realty stocks: time to buy?

Posted on 15 July 2010 by Laxman  |  Email |Print

From Indiatimes.com: The unabated flow of funds from foreign institutional investors has driven Indian stock markets to 52-week highs. The rally has been led by realty stocks with the BSE Realty Index outperforming all other sectoral indices.
However, there are concerns whether the rally will continue as the Reserve Bank of India is widely expected to raise its key interest rates to contain inflation in its policy review later this month. This may be negative for rate sensitive sectors……………………………………….Full Article: Source

Realtors sense stability in market, revisit IPO plans

Posted on 15 July 2010 by Laxman  |  Email |Print

From Indiatimes.com: With the equity market holding up, some of the real estate companies are revisiting their share-offering plans, even at a price lower than what they had initially hoped for.
Many of these companies already have Sebi’s approval to launch their initial public offerings (IPOs), but deferred their plans in the face of unfavourable market conditions……………………………………….Full Article: Source

India: Will upcoming real estate IPOs succeed?

Posted on 15 July 2010 by Laxman  |  Email |Print

From Indiatimes.com: “Although media reports, vis-à-vis real estate IPOs have not been positive, yet, offerings have been subscribed and new ones are in the pipeline,” says realtor Bharat Malik.
The Indian investment market will not blindly put money in real estate IPOs anymore and this is because there are issues that go beyond market sentiment, says Pankaj Kapoor, CEO of real estate research and analysis firm, Liases Foras……………………………………….Full Article: Source

Some REITs flee IPO altar

Posted on 14 July 2010 by Laxman  |  Email |Print

From WSJ: When Weyerhaeuser Co. first disclosed it would become a real-estate investment trust last year, it looked like the forest-products provider would have lots of company.
Lured by strong gains in REIT stocks last year—the Dow Jones Equity All REIT index rose 31%, compared with a 24% rise in the S&P 500-stock index—a number of companies assembled plans to become a REIT……………………………………….Full Article: Source

Egypt’s Amer Group IPO possible this year: adviser

Posted on 25 June 2010 by Laxman  |  Email |Print

From Reuters: Egyptian real estate firm Amer Group may do an initial public offering (IPO) this year, an executive at its adviser said, which would make it only the country’s second since the global financial crisis struck.
“We are advising them on a potential IPO for the end of this year. Before end of year, hopefully,” said Khaled Gamal, an EFG-Hermes investment banking executive, on Thursday, adding the firm had yet to decide on the size of any offering……………………………………….Full Article: Source

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India: Investors give realty story the big miss

Posted on 23 June 2010 by Laxman  |  Email |Print

From Dnaindia.com: Despite realtors’ claims of a revival in the industry and prices in Mumbai, Delhi and Bangalore rocketing to near 2007 highs, investors in real estate stocks don’t seem to be convinced.
The BSE realty index has fallen 17.95% since January 1, 2010 to 3163.55. The market benchmark, the Sensex has gained 1.63% in the period……………………………………….Full Article: Source

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US: More commercial property IPOs on the way

Posted on 21 June 2010 by Laxman  |  Email |Print

From Reuters: U.S. commercial property companies are likely to try to go public in greater numbers in coming months as they look to refinance billions of dollars of mortgage debt left over from the boom years of 2005-2007.
About $1.24 trillion of U.S. commercial real estate loans — $1.02 trillion held by banks and $221.5 billion bundled into bonds known as commercial mortgage-backed securities — will need to be refinanced over the next four years, according to Deutsche Bank……………………………………….Full Article: Source

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Capital markets remain hostile to property investors

Posted on 17 June 2010 by Laxman  |  Email |Print

From Reuters: Deal-hungry property investors will need to forage hard in all four quadrants of the capital market if they are to survive an extended mortgage famine that may permanently alter the way many buyers structure deals.
At the Reuters Real Estate and Infrastructure Summit this week, senior real estate executives said capital markets will remain hostile environments for the foreseeable future, forcing borrowers to do more business with debt funds and equity partners, and rally reluctant banks into club loans…………………………………………..Full Article: Source

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Russia: More real estate IPOs seen next year

Posted on 17 June 2010 by Laxman  |  Email |Print

From Themoscowtimes.com: More Russian developers may make initial public offerings in 2011 as the macroeconomic situation recovers and demand in certain sectors grows, real estate market players said.
“Barring further economic bad news, I am confident that next year at some point there will be a window for a return of IPOs in the Russian real estate sector,” said Saydam Salaheddin, managing director of real estate investment banking at Credit Suisse…………………………………………..Full Article: Source

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Qatar Diar prepares $3.5bln bond for property market

Posted on 17 June 2010 by Laxman  |  Email |Print

From Ameinfo.com: Qatari Diar is preparing a $3.5bn bond as part of efforts to lead a restructuring of the country’s real estate market. The issue will have five and 10-year maturities, the source said.
Diar holds a 45% stake in Barwa Real Estate, the sixth-largest developer in the Gulf region by market value, which is taking over rival Alaqaria in a government-ordered deal. Barwa also plans to sell assets through 2010 and 2011 to meet its obligations…………………………………………..Full Article: Source

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Embassy said to plan $500 mln real estate IPO

Posted on 15 June 2010 by Laxman  |  Email |Print

From Bloomberg: Embassy Group, an Indian property developer, plans to raise about $500 million in an initial public offering, said two people with knowledge of the matter.
Embassy, based in Bangalore, may seek approval from the capital-markets regulator within two weeks to sell the shares, the people said, declining to be identified before an official announcement. The company picked Citigroup Inc., Nomura Holdings Inc. and UBS AG to manage the IPO, they said…………………………………………..Full Article: Source

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India: Real estate sector valuations still high

Posted on 10 June 2010 by Laxman  |  Email |Print

From Livemint.com: Market regulator Securities and Exchange Board of India’s new ruling requiring listed companies to have a free-float of 25% could hit realty stocks.
Several big companies such as DLF Ltd and Puravankara Projects and Constructions Ltd have a public shareholding of less than 25%………………………………………..Full Article: Source

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China Real Estate Opps moves listing from London to Singapore

Posted on 08 June 2010 by Laxman  |  Email |Print

From Propertyeu.info: China Real Estate Opportunities (CREO) announced on Monday that its shareholders have backed moving the company’s listing from the Alternative Investment Market (AIM) in London to Singapore.
CREO’s listing on AIM will now be cancelled and shareholders will receive five units in Treasury China Trust (TCT) for each CREO share held…………………………………………Full Article: Source

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European listed real estate suffers further declines in May: GPR

Posted on 04 June 2010 by Laxman  |  Email |Print

From Propertyeu.info: Listed European real estate returned - 6% in May, following a - 2.3%return for the month before, according to GPR 250 Europe index. Switzerland (1.4%) and Sweden (0.3%) were the only European country components in the indices with a positive result.
All the other countries ended May in negative territory. The worst performers were Greece (Babis Vovos) (-21.7%); Norway (Norwegian Property) (-18.7%) and Austria (-16.7%)………………………………………..Full Article: Source

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Mexico to launch real estate securities, Tellez says

Posted on 03 June 2010 by Laxman  |  Email |Print

From Bloomberg: Mexican real estate-linked securities known as Fibras will begin trading soon and represent “an enormous opportunity,” said Luis Tellez, chief executive officer of Bolsa Mexicana de Valores SAB, Mexico’s stock exchange operator.
The funds will be ready after Mexico’s Finance Ministry publishes adjustments to the rules governing the securities in the coming days, Tellez said today during a conference for real estate companies in Mexico City………………………………………..Full Article: Source

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India: Realtors delay IPOs due to glum market

Posted on 02 June 2010 by Laxman  |  Email |Print

From Intoday.in: A lacklustre stock market that is not going anywhere coupled with lack of investor interest in realty stocks is forcing cashstrapped real estate companies to put their initial public offering (IPO) plans on the backburner and look elsewhere for funds.
More than half a dozen companies, including Emaar MGF, BPTP, Ambience group, Lodha Developers and Sahara group, which were expected to launch their IPOs are delaying their launches or revisiting their money raising targets……………………………………..Full Article: Source

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Malaysia’s Sunway Reit starts IPO marketing

Posted on 02 June 2010 by Laxman  |  Email |Print

From Financeasia.com: Sunway Real Estate Investment Trust, a Malaysian owner and operator of shopping malls and other commercial real estate, has started pre-marketing for an initial public offering that seeks to raise about $500 million. If successful, it will be the largest Reit in Malaysia in terms of asset value and the largest IPO in Malaysia this year.
While stockmarkets around the world remain volatile and quick to react to every bit of bad news, sources say this is not a bad time to launch a Reit, given the defensive qualities of the sector, including steady dividends and the fact that they are only allowed to own finished income-yielding properties……………………………………..Full Article: Source

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Mexico real estate developer tries new IPO plan

Posted on 28 May 2010 by Laxman  |  Email |Print

From Reuters: Mexican real estate developer Tres Marias aims to go public by June 8 under a new financing scheme that allows smaller companies to tap capital markets, the company said on Thursday.
The third initial public offering since mid-2008 in Mexico, the deal will be the country’s first under a plan that lists companies shares over a period of time instead of all at once……………………………………….Full Article: Source

India: Realty IPOs face fresh market heat

Posted on 27 May 2010 by Laxman  |  Email |Print

From Business-standard.com: Firms such as Oberoi, Neptune, Sahara have reduced their fund-raising ambitions. The deterioration in the market mood has directly impacted fund-raising plans of real estate developers, many of whom have either delayed their initial public offers (IPOs) or have decided to go slow.
While Lodha Developers and Emaar MGF have pressed the pause button on their IPOs, firms such as Oberoi, Neptune and Sahara have reduced their fund raising ambitions, investment bankers and developers said……………………………………….Full Article: Source

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Global real estate markets; Recovery after the storm

Posted on 20 May 2010 by Laxman  |  Email |Print

From Cityscapeintelligence.com: DTZ’s flagship Money into Property report predicts that the worst of the property slump is over and forecaststhat global invested stock will grow by 5 per cent in 2010. European invested stock is expected to rise by 4 per cent this year as capital values continue their recovery. This more positive outlook contrasts with a second consecutive year of decline in invested stock in Europe, by 8 per cent in 2009, and a first decline for Continental Europe.

DTZ forecasts that China will become the second largest real estate market globally by the end of 2011 – ranking only behind the US and overtaking Japan and the UK. The UK and France are the only European countries that are expected to feature in the top 5 global ranking by invested stock in 2011…………………………………….Full Article: Source

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Malaysia’s Sunway REIT IPO to raise about $460 mln

Posted on 11 May 2010 by Laxman  |  Email |Print

From Reuters: The planned listing of Malaysian property developer Sunway City Bhd’s real estate investment trust (REIT) will raise about 1.5 billion ringgit ($459 million), more than was expected in the beginning of this year, sources with direct knowledge of the deal told Reuters on Monday.
The REIT, with a fund size of 2.78 billion units, is set to become Malaysia’s largest when it is listed in the third or fourth quarter of this year……………………………………Full Article: Source

China: Property stocks ‘may fall’

Posted on 10 May 2010 by Laxman  |  Email |Print

From Chinadaily.com.cn: Chinese property stocks may face further decline amid short-lived rallies despite the current low valuations created by tough government policies, analysts said.
The real estate sector, the worst performer in the A-share market, showed signs of a potential rebound last week after declining nearly 30 percent since April……………………………………….Full Article: Source

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