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US builders increase spending on homes, cut commercial real estate and gov’t projects

Posted on 02 October 2012 by Laxman  |  Email |Print

U.S. builders spent more to construct homes in August, further evidence of a housing rebound. Still, the increase couldn’t offset cuts in public projects and commercial real estate. Overall construction spending dipped 0.7 percent in August from July, the Commerce Department reported Monday. It was the second straight monthly decline.
The decline lowered construction spending to a seasonally adjusted annual rate of $834.4 billion. That’s nearly 12 percent above a 12-year low hit in February 2011 and roughly half of what’s considered healthy………………………………………..Full Article: Source

Malta: Property market is stagnant

Posted on 02 October 2012 by Laxman  |  Email |Print

The property market and the construction industry are sectors that, like other business activities, employ and engage hundreds of workers both directly and indirectly. To the untrained eye these sectors are the exclusive domain of property speculators who up until the last general elections have been hiking prices artificially and beyond their real value unashamedly.
But in reality these sectors are of great interest to the general economy and provide the bread and butter of thousands of self-employed entrepreneurs such as plumbers, carpenters, ironmongers, tile layers, electricians, furniture manufacturers and many others………………………………………..Full Article: Source

Saudi Arabia needs SR1.3trln to build 2.4mln new houses until 2020

Posted on 02 October 2012 by Laxman  |  Email |Print

Saudi Arabia needs SR1.3 trillion investment to construct 2.4 million housing units between 2011-2020, the National Commercial Bank said Sunday in its “Saudi Housing Review” for the month of September 2012.
It indicates the magnitude of expenditures required by both government and private entities in order to close the supply and demand gap. The growing demand in the housing market will create many opportunities for both commercial banks and real estate developers to take on more active roles………………………………………..Full Article: Source

Beijing’s home trading volume to Q3 passed the volume of last year

Posted on 28 September 2012 by Laxman  |  Email |Print

According to Beijing Urban Construction Commission, up to September 25th, 75775 suits of commercial homes have been sold, which has surpassed the whole trading volume of 72007 suits last year.
“Purchasing quota” has been deemed as the most strict home policy of the government. The property market in 2011 was hurt hard by the quota. Local media reported that 72007 suits of homes was only 10,000 suits more than the lowest sales in the year 2008, and less than half of the sales in the year 2009………………………………………..Full Article: Source

Spain’s boom-era building gear sold as developers cut off

Posted on 27 September 2012 by Laxman  |  Email |Print

Angel Fernandez used to travel to the Netherlands to buy equipment for Spanish homebuilders when they were powering Europe’s third-biggest construction market. Now he watches as buyers come to take diggers, excavators and trucks to countries where they won’t just gather dust.
Standing in a sunburned field in Ocana, a 90-minute drive south of Madrid, 41-year-old Fernandez looks on as never-used construction equipment is sold at discounts of as much as 20 percent through Ritchie Bros. Auctioneers Inc………………………………………..Full Article: Source

Europe’s tallest residential tower in London gets planning go ahead

Posted on 18 September 2012 by Laxman  |  Email |Print

Europe’s tallest residential tower is set to be built in Vauxhall central London with a decision that is regarded as demonstrating the government’s new hands off approach to planning and housing delivery.
Ministers have confirmed that they will not seek to call in the planning application for Green Property’s £500 million One Nine Elms scheme in Vauxhall which includes a 200 meter tower………………………………………..Full Article: Source

Homebuilding probably climbed with sales: U.S. economy preview

Posted on 17 September 2012 by Laxman  |  Email |Print

Mark VitnerNew home construction and sales of previously owned houses probably climbed in August, a sign residential real estate is one of the economy’s few bright spots, economists said before reports this week.
Housing starts increased to a 765,000 annual rate, the fastest in almost four years, from a 746,000 pace in July, according to the median forecast in a Bloomberg survey. Existing-home purchases advanced to a three-month high, while manufacturing contracted in two regions in September, other reports may show………………………………………..Full Article: Source

Taiwan: New construction boom defies gloom

Posted on 17 September 2012 by Laxman  |  Email |Print

Taiwan’s new construction volume for the coming month hit an eight-year high, as developers and construction firms stay upbeat about the housing market, unfazed by credit tightening among state-run lenders and sluggish existing home sales last month, a real-estate survey showed.
Developers and construction firms aim to launch NT$290 billion (US$9.84 billion) of new homes and presale projects nationwide for the Sept. 28 season — starting this week and ending next month — up 55.5 percent from the same period last year, after housing prices emerged unscathed from a spate of tightening measures, the Chinese-language Housing Monthly said………………………………………..Full Article: Source

Portuguese construction sector in crisis

Posted on 30 August 2012 by Laxman  |  Email |Print

Since the beginning of the year, 868 companies disappeared and the construction sector is currently losing 90 jobs per hour. Unemployment in construction hit a new record high in 2012.
The Portuguese Federation of Construction Industry and Public Works, FEPICOP, says in a statement that, since the beginning of the year until the end of July, 868 construction companies closed. 60% more than in the same period of last year………………………………………..Full Article: Source

US home construction dips, but signs point up

Posted on 17 August 2012 by Laxman  |  Email |Print

Joel Naroff U.S. builders broke ground on slightly fewer homes in July than June. But in a hopeful sign for future construction, applications for building permits rose to their highest level since August 2008.
The Commerce Department said Thursday that single-family homes and apartments started in July dipped 1.1 percent to a seasonally adjusted annual rate of 746,000. That’s down from June’s rate of 754,000, the fastest since October 2008………………………………………..Full Article: Source

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Building permits in U.S. increase to four-year high: Economy

Posted on 17 August 2012 by Laxman  |  Email |Print

American builders took out more residential construction permits in July than at any time in the past four years, a sign the market will continue to improve.
Applications, a proxy for future work, rose to an 812,000 annual rate, exceeding the highest estimate of economists surveyed by Bloomberg and the most since August 2008, Commerce Department figures showed today in Washington. Housing starts fell 1.1 percent to a 746,000 rate from June’s 754,000, which was the strongest pace in more than three years………………………………………..Full Article: Source

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Property market thriving along Bangkok’s new purple line

Posted on 17 August 2012 by Laxman  |  Email |Print

The purple line mass transit route currently under construction is attracting an increased level of development, despite being laid out in an area affected by the floods in 2011, shows a survey by CBRE Thailand, an international property consultancy company.
The construction of the mass transit network is becoming one of the key factors that determine where people buy or invest in property………………………………………..Full Article: Source

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Yamuna Expressway to stoke real estate boom

Posted on 13 August 2012 by Laxman  |  Email |Print

The Yamuna Expressway, which was finally thrown open to public recently may turn out to be a magnet for real estate growth in the region. The signal-free 165km expressway will reduce the distance between Agra and Delhi to around 211km, reducing the travel time between the Capital and the tourist hot spot to 150 minutes, and a mere 90 minutes from Greater Noida.
The expressway, in fact, has brought cheer to the area’s developers with the property prices in its neighbourhood touching a mark of Rs 30,000 per square yard………………………………………..Full Article: Source

Singapore to build at least 20,000 new public housing units in 2013 - Minister

Posted on 07 August 2012 by Laxman  |  Email |Print

The Singapore government plans to build at least 20,000 new public-housing apartments in 2013 as part of plans to stabilize the city-state’s heated property market, a government minister said Monday.
“Our move to ramp up supply to stabilize the housing market…is making steady progress,” Minister for National Development Khaw Boon Wan wrote on his official weblog in comments about Singapore’s public-housing market. ……………………………………….Full Article: Source

Investment opportunity in the real estate market focused on the construction industry

Posted on 31 July 2012 by Laxman  |  Email |Print

Freddie Mac’s July 2012 U.S. economic and housing market outlook provides some interesting insights on the real estate market and, more specifically, the construction industry. In July, the agency increased its second-quarter outlook on housing starts, housing sales, and housing price appreciation. Based on the report, housing starts show the greatest potential for improvement in the next 12 months.
Housing starts are expected to reach an annual rate of 730,000 units for the second quarter. Home sales for single-family units are estimated to reach an annual rate of 4.94 million………………………………………..Full Article: Source

Global construction industry needs full recovery in China

Posted on 25 July 2012 by Laxman  |  Email |Print

While growth in China is slowing, the real estate market continues to show signs of a recovery. As almost one-third of the economy in China is related to the construction sector, both residential and commercial, this will be bullish as much of the global construction industry depends on a strong China now.
Growth for China in the second quarter of 2012 was just reported at 7.6%, the lowest in three years. Previously, growth in the People’s Republic had registered at an annual rate of 10%. It is not mere coincidence that the real estate market in China has been in a slump along with the falling growth rate for the country………………………………………..Full Article: Source

China developers still lean toward skyscrapers

Posted on 24 July 2012 by Laxman  |  Email |Print

Major real estate developers have apparently accepted the stubborn determination of government policy makers by finally turning their attention toward commercial properties — in a big way.
In the city of Chengdu, for example, developers have proposed or have started building 30 skyscrapers for an all-new financial center. Each building would be at least 60 stories high………………………………………..Full Article: Source

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Home starts in U.S. rise to highest level since 2008

Posted on 19 July 2012 by Laxman  |  Email |Print

Stephen StanleyNew U.S. home construction rose in June to the highest level in almost four years, indicating the residential real estate market is strengthening even as other parts of the economy cool.
Housing starts rose 6.9 percent to a 760,000 annual pace after a revised 711,000 rate in May that was faster than initially estimated, the Commerce Department reported today in Washington. The median forecast of 79 economists surveyed by Bloomberg News called for a 745,000 rate………………………………………..Full Article: Source

US home construction makes slow, steady comeback

Posted on 19 July 2012 by Laxman  |  Email |Print

Builders are putting up more houses than they have in nearly four years, a long-awaited recovery that could help energize the U.S. economy.
From areas like Phoenix that are finally arising from the housing bust to Chicago and Minneapolis, where strong economies have lifted demand, the outlook for home building looks healthier than at any time since sales and prices collapsed in 2007………………………………………..Full Article: Source

Cyprus construction sector decline continues

Posted on 09 July 2012 by Laxman  |  Email |Print

Latest figures from the Cyprus Statistical Service paint a very bleak picture of the construction sector which continues to decline as the Island’s financial and banking crisis deepens.
The number of building permits issued in April 2012 stood at 500 compared with the 560 issued in April last year; a decrease of 10.7%, according to the latest figures released by the Cyprus Statistical Service………………………………………..Full Article: Source

NZ: Rental ‘crisis’ sweeping the country - real estate expert

Posted on 06 July 2012 by Laxman  |  Email |Print

Landlords could start hiking prices for rental properties after a few years treading cautiously through the recession, according to the head of a real estate company.
Dwindling construction, subdued property developer investment and the cost of consents have helped fuel a rental property shortage throughout the country………………………………………..Full Article: Source

Saudi- Construction boom fails to contain exorbitant hikes in house rents

Posted on 05 July 2012 by Laxman  |  Email |Print

Housing rent is soaring in Jeddah and Makkah despite a big boom in the construction industry. It is estimated more than 60,000 units have been added to the residential sector over the last two years in the two cities.
However, this has failed to rein in skyrocketing rent rates, according to Al-Eqtisadiah business daily………………………………………..Full Article: Source

US construction spending rose 0.9 pct in May, boosted by housing and commercial projects

Posted on 03 July 2012 by Laxman  |  Email |Print

A surge in homebuilding pushed U.S. construction spending up by the largest amount in five months, the latest indication that the housing sector is slowly recovering.
Construction spending rose 0.9 percent in May from April, the Commerce Department reported Monday. It was the second straight monthly increase and the biggest percentage gain since December………………………………………..Full Article: Source

Homebuilders vulnerable in current market

Posted on 22 June 2012 by Laxman  |  Email |Print

On Tuesday we learned that single-family housing starts rose 3.2% to a 516,000 annual rate. This release is further evidence that the market for new homes is experiencing a slow recovery, but at half the pace of a healthy housing market.
The Federal Reserve’s statement following Wednesday’s FOMC meeting continued to describe the housing sector as “depressed,” but as has been its habit, the central bank did not offer targeted help for the housing and mortgage markets………………………………………..Full Article: Source

Savills: Rise in construction volume in Swedish logistics market

Posted on 22 June 2012 by Laxman  |  Email |Print

According to research by international real estate advisor Savills approximately 400,000 m² of new logistics space will be delivered in Sweden by the end of 2012, up from 350,000 m² in 2011.
The firm expects this growing trend to continue with a number of larger projects (over 100,000 m²) scheduled for completion in 2013 and more smaller-scale projects likely to be announced during the second half of 2012………………………………………..Full Article: Source

Global mall development at ‘all-time high’ - CBRE

Posted on 21 June 2012 by Laxman  |  Email |Print

Neville MossGlobal shopping centre development continues apace with growing middle class populations and retailer expansion leading to unprecedented levels of construction and new openings, largely in emerging markets, according to property advisor CBRE.
CBRE measured the level of shopping centre development in 180 of the world’s major cities to identify the most active markets, both in terms of 2011 completions and space currently under construction………………………………………..Full Article: Source

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Argentina construction, real estate markets in the tank

Posted on 20 June 2012 by Laxman  |  Email |Print

There’s trouble in River City these days - River City being Argentina. President Cristina Kirchner is cracking down on real estate buyers and sellers and construction industry players who are closing deals with U.S. dollars. They are withdrawing the dollars from their bank savings accounts. That’s the problem.
Kirchner wants the deals to close with Argentine pesos. She says she needs the dollars to pay off various countries’ international debts. About 4.50 pesos equals $1 U.S. currently. In the country’s black markets, hustlers are asking about 6 pesos for a U.S. dollar………………………………………..Full Article: Source

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Home-builder confidence hits five-year high

Posted on 19 June 2012 by Laxman  |  Email |Print

Barry RutenbergU.S. home builders’ sentiment increased in June to the highest level in more than five years, the latest in a series of encouraging signs for the housing market. The National Association of Home Builders said Monday its housing market index was 29 this month, up a point from a month earlier and the highest level since May 2007. May’s reading was revised downward by a point to 28.
The uptick “is reflective of the continued, gradual improvement we are seeing in many individual housing markets as more buyers decide to take advantage of today’s low prices and interest rates,” said Barry Rutenberg, the trade group’s chairman and a home builder from Gainesville, Fla………………………………………..Full Article: Source

UK construction sector activity ’slowed in May’

Posted on 07 June 2012 by Laxman  |  Email |Print

Growth in the UK construction sector slowed to a three-month low in May, according to a closely-watched survey. The Markit/CIPS purchasing managers’ index (PMI) for construction fell to 54.4 last month, from 55.8 in April.
However, the reading indicates that the sector is still growing, as a figure above 50 implies expansion. Office for National Statistics figures found a fall in construction output in the first quarter of 2012 contributed to the economy contracting………………………………………..Full Article: Source

Tallest buildings in the world

Posted on 23 May 2012 by Laxman  |  Email |Print

The 107-storey-tall Princess Tower in Dubai has been recognised by Guinness World Records as the world’s tallest residential building. Measuring 414 metres from base to tip, the tower comprises six basement floors, a ground floor and 100 above-ground residential levels. The tower occupies an area of 37,410 square feet and houses 763 luxury apartments.
Sunlight is reflected from Norman Foster’s ‘Gherkin’ as it stands among other buildings in the City of London, seen from the viewing platform of the Monument, in the City of London………………………………………..Full Article: Source

Scotiabank’s landmark Toronto tower sells for record $1.27-bln

Posted on 23 May 2012 by Laxman  |  Email |Print

Bank of Nova Scotia’s landmark red tower in downtown Toronto has been sold for $1.27-billion, the highest price yet paid for a Canadian office building.
After several months on the market and rumours of international interest, Toronto’s Dundee Real Estate Investment Trust partnered with Calgary’s H&R Real Estate Investment Trust to buy the 68-storey tower. The building will be two-thirds owned by Dundee, with H&R holding the remaining interest………………………………………..Full Article: Source

Tokyo unveils world’s 2nd-tallest building dubbed Skytree

Posted on 23 May 2012 by Laxman  |  Email |Print

Tokyo’s Skytree, a 634-meter-high tower that is the second-tallest building in the world behind Burj Khalifa (828 meters) in Dubai, was opened to the public Monday. Skytree is also the world`s highest steel tower and 90 percent higher than Tokyo Tower (332.6 meters) and 2.3 times taller than the Korea Life Insurance 63 Building (274 meters) in Korea.
On a clear day, Skytree can be seen from Fukushima Plant 1, which is some 200 kilometers away………………………………………..Full Article: Source

European construction output slump continues

Posted on 22 May 2012 by Laxman  |  Email |Print

Falling construction output in Europe continued in March, according to the latest data from Eurostat, which showed a 3.8% year-on-year decrease in the Eurozone and a 3.9% drop in the EU27.
The figures make March the third consecutive month in which Europe’s construction output has fallen, following year-on-year declines in January and February………………………………………..Full Article: Source

Tokyo opens world’s tallest tower to about 200,000 people

Posted on 22 May 2012 by Laxman  |  Email |Print

The Tokyo Skytree, twice as tall as the Eiffel Tower, and its surrounding retail and office complex opens today to an estimated 200,000 visitors.
Developer Tobu Railway Co., which expects the project to draw 32 million visitors in its first year, will hold an opening ceremony at 9:15 a.m. local time to be attended by Yoshizumi Nezu, president of the railway and retail group, and Noboru Yamazaki, mayor of Tokyo’s Sumida City ward………………………………………..Full Article: Source

Housing market posts best stretch of growth in nearly four years

Posted on 17 May 2012 by Laxman  |  Email |Print

U.S. builders started construction of new homes in April at a slightly faster pace, extending their best stretch of business in almost four years, according to data released on Wednesday.
Housing starts rose 2.6% to an annual rate of 717,000 last month, compared to March’s sharply revised figure of 699,000, the Commerce Department said Wednesday.. Housing starts in March were originally reported at 654,000………………………………………..Full Article: Source

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Homebuilder confidence in U.S. climbs to five-year high

Posted on 16 May 2012 by Laxman  |  Email |Print

Confidence among U.S. homebuilders jumped more than forecast in May, reaching a five-year high that signals an improving outlook for construction. The National Association of Home Builders/Wells Fargo index of builder confidence rose to 29, the highest since May 2007, a report from the Washington-based group showed.
The gauge exceeded the highest projection in a Bloomberg News survey in which the median estimate was 26. Readings below 50 mean more respondents said conditions were poor………………………………………..Full Article: Source

Brazil builders plunge as PDG profit tumble deepens slump

Posted on 16 May 2012 by Laxman  |  Email |Print

MRV Engenharia & Participacoes and PDG Realty SA Empreendimentos & Participacoes led a plunge among Brazilian real-estate companies after reporting first-quarter profit that fell more than forecast.
MRV lost 15 percent to 9.43 reais at the close in Sao Paulo, the biggest decline on the BM&FBovespa Real Estate Index, which retreated 4 percent. PDG, the country’s largest homebuilder by sales, fell 9.8 percent to 3.67 reais, making it the worst performer this year on the benchmark Bovespa index………………………………………..Full Article: Source

Steps unclear in builders’ race to top

Posted on 15 May 2012 by Laxman  |  Email |Print

Record-keepers for skyscrapers are struggling to keep up as builders around the world create ever taller towers, stretching everything from the limits of architecture itself to the definition of a spire.
A nonprofit group in Chicago is recognized by much of the industry as the arbiter of which buildings are the highest, and its categories have proliferated: building with highest occupied floor, for example, or height from lowest entrance to architectural tip, or height from lowest entrance to the top, whether that be an architectural element or a movable antenna………………………………………..Full Article: Source

UK construction maintains recovery

Posted on 03 May 2012 by Laxman  |  Email |Print

Markit/Cips PMI survey reports strong new orders and rise in employment, with sector boosted by commercial building. UK construction maintained its 16-month recovery last month, according to financial data provider Markit, despite official data showing that the sector experienced steep falls in output at the start of the year.
The Markit/Cips purchasing managers index (PMI) reported strong new orders and a rise in employment during April as growth fell back only marginally to 55.8 in April from 56.7 in the previous month………………………………………..Full Article: Source

Colliers: 300,000 m² of commercial space under active construction in Romania

Posted on 27 April 2012 by Laxman  |  Email |Print

The retail market in Romania remains active in terms of constructions, both in Bucharest and in the countryside, according to a recent study published by Colliers International.
Although in the first quarter, only 5,000 m² of retail space were delivered to the market, by Nepi and Carrefour in Brasov, there is an additional area of 300,000 m² under active construction. Out of this, another 170,000 m² are announced to be delivered in 2012, most of it in the countryside………………………………………..Full Article: Source

Update on the Chinese residential real estate market

Posted on 19 April 2012 by Laxman  |  Email |Print

China’s residential construction market is about to undergo a significant reduction in activity, and will thus consume a lot less of these materials, leading to price and volume plunges around the world.
This thesis was initially predicated on the fact that real estate prices in China were already falling, and thus it is expected that activity would soon follow, as is our experience from past real estate booms around the world, with the U.S. being a prime example………………………………………..Full Article: Source

US homebuilders request most permits in 31/2 years

Posted on 18 April 2012 by Laxman  |  Email |Print

U.S. builders requested the most permits in March for single-family homes and apartments in 31/2 years, suggesting that many expect the housing market to improve over the next year.
The Commerce Department said Tuesday that permits, a gauge of future construction, rose 4.5 percent to a seasonally adjusted annual rate of 747,000 in March. That’s the highest level since September 2008. The rise in permits helped offset a slower month of construction………………………………………..Full Article: Source

World’s tallest tower in Jeddah to be ready in 63 months

Posted on 17 April 2012 by Laxman  |  Email |Print

Jeddah’s Kingdom Tower, set to become the world’s tallest building, will be completed in 63 months, according to Kingdom Holding Company ( KHC ) Chairman Prince Alwaleed bin Talal.
His remarks came as the Jeddah Economic Company (JEC) yesterday announced a capital increase from SR7.3 billion to SR8.8 billion for the mega project that includes the 1,000m high Kingdom Tower………………………………………..Full Article: Source

U.S. construction spending falls 1.1pct in February

Posted on 03 April 2012 by Laxman  |  Email |Print

U.S. builders trimmed activity for a second straight month in February, pushing construction spending down by the largest amount in seven months. There was widespread weakness with spending on home building, office construction and government projects all dropping.
The Commerce Department reported Monday that construction spending fell 1.1 per cent in February after a drop of 0.8 per cent in January which was revised down from an initial estimate of a decline of 0.1 per cent………………………………………..Full Article: Source

U.S. housing construction at 3-year high

Posted on 21 March 2012 by Laxman  |  Email |Print

Permits for U.S. homebuilding neared a three-year high in February, even as groundbreaking activity slipped, suggesting a nascent recovery in the housing market was still on track.
New building permits surged 5.1 per cent to a seasonally adjusted annual rate of 717,000 units last month, the Commerce Department said on Tuesday. It was the highest rate since October 2008 and far exceeded economists’ expectations for an advance to a 690,000-unit pace from January’s 682,000-unit rate………………………………………..Full Article: Source

Cities with the most new construction

Posted on 21 March 2012 by Laxman  |  Email |Print

Thanks to the housing bubble, Phoenix garnered a reputation for dusty abandoned homes and half-built tracts of retail sprawl. Arizona’s biggest city suffered a 55% drop in home prices since the 2006 peak and it consistently ranks among the country’s 20 worst cities in terms of foreclosures.
Yet a recent rebound in home sales — and more modestly in home prices — has spurred talk of a recovery there………………………………………..Full Article: Source

Canadian home construction seen slowing

Posted on 14 March 2012 by Laxman  |  Email |Print

New home construction in Canada is expected to slow mildly over the next two years, the Conference Board of Canada said on Tuesday, in another sign of a cooling housing market.
The independent research organization’s latest report forecast housing starts will be 190,000 units in both 2012 and 2013. There were 194,000 starts last year, according to Canadian Real Estate Association (CREA) data………………………………………..Full Article: Source

Build quality seen as looming threat to Dubai property market

Posted on 08 March 2012 by Laxman  |  Email |Print

Dubai’s property market faces a global perception problem that could severely hamper investment over the long-term if issues related to build quality are not addressed, according to James Garbutt, joint managing partner of real estate consultancy Realpoint.
Garbutt, whose company monitors and inspects construction projects for Dubai’s Real Estate Regulatory Agency (RERA), said poor quality is a growing problem that poses a greater threat to the market than oversupply or lack of regulatory standards………………………………………..Full Article: Source

Malaysia builders trailing most since 2007 lure CLSA on $16 bln plan

Posted on 08 March 2012 by Laxman  |  Email |Print

Malaysian construction stocks are trailing regional peers by the most since 2007, a buy signal to CLSA Ltd. and Manulife Asset Management as the government’s $16 billion building plan sends profit estimates to a record.
While the Bursa Malaysia Construction Index (KLCON) climbed 6.7 percent this year through February, the gauge lagged behind the Bloomberg Asia Pacific Engineering & Construction Index by 12 percentage points, the most for any two-month period since October 2007………………………………………..Full Article: Source

Private sector to construct housing units in Iraq

Posted on 24 February 2012 by Laxman  |  Email |Print

Iranian private sector is to construct housing units in Iraq, announced minister of roads and urban development. Speaking in a meeting held with Iraqi housing minister, Ali Nikzad pointed out that Iran’s Housing Foundation is ready to establish construction materials factory in Iraq, Mehr News Agency said.
Since Iran seeks a secure and stable Iraq, the two countries can make vast cooperation in road and urban construction sector, he pointed out………………………………………..Full Article: Source

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