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Iraq seeks UAE developers to meet housing demand

Posted on 03 October 2012 by Laxman  |  Email |Print

The Iraqi government is in close talks with UAE developers, including Emaar Properties, to develop properties that will help the war-torn country meet its housing demand, officials said.
According to the Iraqi Ministry of Construction and Housing (MoCH), the country’s federal budget is estimated to reach $120 billion (Dh440.76 billion) in 2013, increasing to $200 billion by 2015, highlighting a concerted effort to improve infrastructure and open up investment opportunities………………………………………..Full Article: Source

H.K. apartment sales set for best month in 6 years

Posted on 03 October 2012 by Laxman  |  Email |Print

Hong Kong developers, seeking funds to tap an expanding government land supply, are this month preparing to sell the most homes in six years as expectations for prolonged low-interest rates fuel demand.
Real estate companies led by New World Development Co., this year’s best performer in Hong Kong’s benchmark property gauge, may sell more than 3,300 units from eight new projects in October, according to Buggle Lau, chief analyst at Midland Holdings Ltd., the city’s biggest publicly traded realtor. That would be the highest monthly figure since August 2006, Lau said………………………………………..Full Article: Source

UK developers benefit from depressed land values

Posted on 28 September 2012 by Laxman  |  Email |Print

House prices are falling, mortgage lending is stagnant and the economy is in recession for the second time in three years - yet housebuilders are reporting record increases in profits and their share prices are up 50 per cent in the year to date.
Crest Nicholson, which suffered badly during the global financial crisis, is poised to relist on the stock market; while Redrow, another of the worst hit, could be taken private by its founder Steve Morgan………………………………………..Full Article: Source

Singapore: Industrial property prices expected to rise in Q3

Posted on 28 September 2012 by Laxman  |  Email |Print

The Urban Redevelopment Authority’s (URA) Price Index for industrial properties is expected to register an increase of about nine per cent in the third quarter. This is according to analysts ahead of flash estimates to be released by the URA on Monday.
While price increases are set to moderate, there are concerns that the uptrend in industrial property prices may spur policy changes to cool the market………………………………………..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

Prime developments in Abu Dhabi sustain rates

Posted on 24 September 2012 by Laxman  |  Email |Print

Prime developments in Abu Dhabi sustained rates while old properties witnessed rise in vacancy levels in the third quarter, according to property management company Asteco.
Tenants living in Abu Dhabi have been taking advantage of select new prime developments offering high quality finishes and amenities at competitive rates after 7,400 apartments and 1,675 villas were added to the UAE capital’s property market since the start of 2012………………………………………..Full Article: Source

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U.S. housing market improvements keep trickling in

Posted on 21 September 2012 by Laxman  |  Email |Print

Housing market developments (starts and sales of existing homes) in August stand out amid a recent string of bearish economic reports. Builders broke ground for construction of new single-family homes at a brisk pace (+5.5%) in August.
From a low of 478,000 starts in April of 2009, total housing starts have moved up 57%. Still, this is a long way from the historical high of 2.27 million units in January 2006………………………………………..Full Article: Source

Foreign realty developers target China

Posted on 21 September 2012 by Laxman  |  Email |Print

A growing number of overseas real estate projects are trying to attract Chinese investors, as global economic woes soften their own domestic real estate markets. A record 147 overseas projects from more than 30 countries and regions are attending the 2012 Beijing International Property Autumn Expo, according to statistics from the expo’s sponsor.
“China’s housing market has great appeal to foreign projects, and we have had to extend the exhibition hall for foreign projects since we have so many of them,” said Wei Kefei, director of the expo’s international department………………………………………..Full Article: Source

Chinese developers start tapping equity markets

Posted on 20 September 2012 by Laxman  |  Email |Print

The fundraising window for Chinese developers is opening even more. After a series of high-yield bond issuances by developers last week which were well-received by investors, a Hong Kong-listed real estate firm Wednesday moved to tap the stockmarkets for funds.
Chinese property firms have been struggling with slowing sales and tight credit in the past year, but Wednesday Longfor Properties Co. Ltd raised HK$3.09 billion ($399 million) from placing shares at a 7.9% discount to their close Tuesday………………………………………..Full Article: Source

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Should Dubai developers ‘return to basics’?

Posted on 18 September 2012 by Laxman  |  Email |Print

The real estate market in Dubai has certainly had its share of booms and slumps and has been one of the most popular topics of discussion and investigation. It still stands as an icon of the city’s most vital sectors to salvation and analysts say that for the economy to continue booming, the real estate market must once again serve as a prominent pillar.
Now, as faith begins to seep back into the hearts of potential investors and hope rises with announcements of new projects what should property developers do differently this time around? Emaar has recently announced their first post-crisis luxury hotel, a seemingly positive indication of a stronger revenue stream and confident strategy moving ahead but will it be enough………………………………………….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

China: Property developers boost land purchases

Posted on 12 September 2012 by Laxman  |  Email |Print

China’s major property developers are accelerating purchases of land parcels due to the recovery in the real estate market, at a time when local governments are eager to boost revenues.
Seven major real estate developers bought land parcels worth 8.87 billion yuan ($1.34 billion) in first- and second-tier cities from Sept 5 to 7, industry data showed………………………………………..Full Article: Source

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India: Real estate firms revisit plans for smaller cities

Posted on 10 September 2012 by Laxman  |  Email |Print

Realty firms are revisiting and tweaking strategies for development in India’s smaller cities in a re-run of what was seen during the 2008-09 economic slowdown.
While some large developers are sticking to bigger cities and discontinuing project plans in smaller towns, some are switching from premium to affordable homes to push sales and mixing retail and hotels with pure residential projects to boost demand and spread the risk………………………………………..Full Article: Source

Hundreds of Dubai landlords, tenants duped by real estate firms

Posted on 07 September 2012 by Laxman  |  Email |Print

At least two dodgy companies in Dubai have duped hundreds of landlords of their rental income as the post-dated cheques issued by them have bounced. Property owners alleged the cheques issued by the two companies, had bounced. Some of the owners said they were in the process of filing police complaints, while some reported the matter to the Real Estate Regulatory Agency (Rera).
Owners also claim that these companies did not have property management licence as the companies have to furnish a guarantee of Dh5 million to run property management business………………………………………..Full Article: Source

London luxury home market risks price crash

Posted on 04 September 2012 by Laxman  |  Email |Print

Mark FarmerDevelopers rushing to build top-quality London homes to cash in on strong overseas demand are in danger of being stung by a price crash as they flood the market, property consultancy EC Harris said.
Over 15,000 homes in developments worth more than 38 billion pounds are due for completion in London’s most expensive neighbourhoods in the next ten years, a 70 percent jump on last year, an EC Harris report said on Monday……………………………………….Full Article: Source

End of “obscene” profits for Hong Kong property firms

Posted on 03 September 2012 by Laxman  |  Email |Print

Hong Kong’s home builders are bidding cautiously on land to develop, wary of shrinking profit margins as the city’s new leader pushes for more affordable housing in the world’s most expensive residential real estate market.
Property developer Cheung Kong Holdings, founded by Asia’s richest man, Li Ka-shing, bought only one new plot in the city in the first half of this year, an unusually quiet span for Asia’s No. 2 developer by market value………………………………………..Full Article: Source

Chile property development tops $11 bln in 2012

Posted on 28 August 2012 by Laxman  |  Email |Print

Driven by Chile’s strong economic growth and continuing reconstruction efforts after the 2010 earthquake, the Chilean real estate sector remains very strong.
According to a report by the newspaper Estrategia, there are currently over $11 billion of real estate projects under development in Chile, the majority of which are in the Santiago Metropolitan Region. Approximately 72% of these projects are currently under construction………………………………………..Full Article: Source

Home builders ride high in housing recovery

Posted on 24 August 2012 by Laxman  |  Email |Print

It takes a while to break free from knee-jerk opinions that may no longer reflect reality, especially when you’re bombarded by messaging that reinforces outdated perceptions. Look at the real estate market and home builder stocks with all of the tales of woe and ruin in the aftermath of the financial crisis and crash and burn of the mortgage market.
Since hitting the skids in 2007-2008, the U.S. residential real estate market has done what it has usually done after big booms that have gone bust–it corrects imbalances and gears up for the next boom………………………………………..Full Article: Source

High-yield window open for Chinese developers?

Posted on 24 August 2012 by Laxman  |  Email |Print

Chinese developers started looking to bond markets for funds again around March this year. Agile Property Holdings Ltd. sold a $700 million five-year bond priced at 9.875% that month, with the bond nine times oversubscribed.
KWG Property Holding also sold $400 million worth of five-year bonds priced at 13.5%, but issuance has taken a breather since………………………………………..Full Article: Source

Chinese developers wary at land sales

Posted on 15 August 2012 by Laxman  |  Email |Print

China’s property market has begun to show signs of a modest rebound, but property developers’ skittishness at land auctions shows lingering strains from Beijing’s campaign to bring down property prices.
A number of cities, including Shenyang, Dalian, Zhuhai and Tianjin, have seen disappointing land auctions, with many real-estate developers reluctant to add to their land holdings. That is bad news for local governments, which depend on land sales for a large slice of their revenue………………………………………..Full Article: Source

Poland to see record office delivery in 2013: DTZ

Posted on 13 August 2012 by Laxman  |  Email |Print

Real estate developers aim to deliver 340,000 to 350,000 m2 of new office space in Poland next year - the highest annual figure in the market since 2000, DTZ has said.
Over 92,700 m2 of office space was delivered in Warsaw during the first half of 2012 a further 130,000-140,000 sq m is scheduled for completion by the end of the year. DTZ’s Property Times Poland estimates the 2012 total will come to between 220,000 and 230,000 m2………………………………………..Full Article: Source

China: Developers eye tourism real estate projects

Posted on 09 August 2012 by Laxman  |  Email |Print

About one-third of China’s top 100 real estate developers have stepped into the tourism real estate sector, amid the government’s stringent curbs on property investment and funding difficulties for small developers.
The first quarter of the year saw about 70 projects with investments above 100 million yuan in tourism real estate projects, with a total investment of 260 billion yuan ($40.83 billion). And the investments are expected to surpass 1 trillion yuan this year, according to 5u588.com, a domestic tourism website………………………………………..Full Article: Source

China developer sees more weakness

Posted on 09 August 2012 by Laxman  |  Email |Print

China Vanke Co., China’s largest property developer by sales, said a decline in new housing construction may continue in the second half of the year as a dip in sales and weaker access to credit curb appetite for expansion.
Investors are closely watching China’s property market for signs of improvement as authorities seek to reverse a slowdown in the broader economy. Investment in property development accounts for more than 10% of GDP and has an impact on other sectors as well………………………………………..Full Article: Source

Dubai land transactions total $17.1bln in H1

Posted on 07 August 2012 by Laxman  |  Email |Print

Land transactions in Dubai reached AED63bn in the first half of 2012, a 21 percent increase on the same period last year, a senior official said on Monday.
Sultan Butti bin Mejrin, director general of the Dubai Land Department, said the emirate witnessed a total of 18,953 transactions to the end of June at an average of 133 per day. The transactions include sales, mortgages, ijarah, mortgage portfolios, deferred sales and other transactions………………………………………..Full Article: Source

China’s largest developer Vanke H1 profit up 25.1 pct

Posted on 07 August 2012 by Laxman  |  Email |Print

China Vanke Co Ltd, the largest mainland China property developer by sales, on Monday reported a 25.1 percent rise in net profit for the first half of the year, slightly stronger than expected.
The net profit for the first half totalled 3.73 billion yuan ($585 million). Revenue for the first six months grew much faster than anticipated, up 53.7 percent to 30.72 billion yuan, but margins fell. Developers have been cutting prices in China to win business in a market downturn………………………………………..Full Article: Source

China developers’ finances have improved: Moody’s

Posted on 01 August 2012 by Laxman  |  Email |Print

China’s property developers have seen their finances improve due to better housing sales in recent months, but the gains have been uneven and the negative outlook for the sector remains unchanged, said a senior executive at credit-ratings firm Moody’s Investors Service.
Beijing has been more supportive of first-time home buyers since early this year amid efforts to push prices lower and curb speculation while supporting genuine housing demand. Some property developers, especially larger ones that focus on housing projects with smaller apartment units catering to first-time buyers, have seen sales rise and have resumed purchasing land after waiting on the sidelines since late last year………………………………………..Full Article: Source

Chinese market sees boom in second-tier cities

Posted on 30 July 2012 by Laxman  |  Email |Print

The Chinese property market, which has been ‘booming’ for the past decade, remains unaffected by the economic crises in the European Union and the US as the development spreads rapidly to its second-tier cities.
“The rapid growth can be observed most clearly in the past two years where the market is truly starting to pick up in these cities,” said Hong Kong Neptune Group sales manager, Ricky Zhang when interviewed before his talk on the Chinese property market here………………………………………..Full Article: Source

More rainy days for Chinese developers despite stimulus

Posted on 27 July 2012 by Laxman  |  Email |Print

China’s property market has shown signs of warming up on expectations that Beijing will loosen monetary policies further, but a recent measure suggests the central government doesn’t want its generous stimulus to flow into the coffers of property developers.
Beijing will send inspection teams to 16 key provinces and cities by the end of this month to ensure real estate tightening policies are strictly enforced by local governments, according to a statement from the State Council………………………………………..Full Article: Source

China: Control of housing market will continue

Posted on 25 July 2012 by Laxman  |  Email |Print

Real estate developers are showing enthusiasm for the increase in housing prices they saw in June and July, while keeping an eye on the government’s response.
The improvement in the Chinese real estate market proves that disposable capital is again flowing into the housing market amid the slumping economy, making the economic situation even worse………………………………………..Full Article: Source

China developers rise on Nanjing housing policy: Shanghai mover

Posted on 25 July 2012 by Laxman  |  Email |Print

China’s property stocks rose, with the gauge tracking developers on the Shanghai Composite Index advancing for the first time in five days, after a report that said the city of Nanjing offered incentives for some homebuyers.
The property measure increased 1.1 percent at the local close, the biggest gain among five industry groups on the benchmark index. China Vanke Co., the biggest listed developer on mainland exchanges, climbed 1.3 percent to 9.33 yuan in Shenzhen, the biggest gain in more than a week. Poly Real Estate Group Co., the second largest, added 2.1 percent to 11.44 yuan………………………………………..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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China property rally begins to wobble

Posted on 23 July 2012 by Laxman  |  Email |Print

This year’s rally in stocks and bonds of mainland Chinese real estate developers looks set to peter out, analysts say, as valuations have become less attractive and hopes have dwindled for any roll back of steps taken to dampen home prices.
The tide appeared to start turning during the past week, though China’s property sector remains among the best performers across Asia this year, easily outpacing benchmarks………………………………………..Full Article: Source

US housing market back on track?

Posted on 20 July 2012 by Laxman  |  Email |Print

The pace of homebuilding activity is on the mend in another sign of healing in the US housing market. Builder “starts” on new homes reached an annualized rate of 760,000 in June, the Commerce Department reported Wednesday. That’s the highest level on that indicator since October 2008, when the nation’s economy was being gripped by a severe financial crisis.
The gains in homebuilding don’t mean the housing market has put all of its troubles behind it. Sales of so-called distressed properties remain high, and more than 1 in 5 mortgage borrowers owe more than their home is worth………………………………………..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

European developers avoid “unlucky” homes to tap Far East demand

Posted on 19 July 2012 by Laxman  |  Email |Print

This September, work starts on a development of 22 homes around a Chinese-style courtyard, pavilion and pond. Enclosed by high white walls, it will have Chinese symbols adorning an entrance gate topped with a roof reminiscent of a Far Eastern temple.
It is being built not in China but Fuenlabrada, an industrial suburb 17 miles south of Madrid, the capital of debt-ravaged Spain where thousands of construction projects have stopped in their tracks………………………………………..Full Article: Source

India: CREDAI seeks reform in real estate sector

Posted on 19 July 2012 by Laxman  |  Email |Print

CREDAI, the apex body for real estate developers, called for comprehensive reforms in areas related to land administration, banking and taxation to boost the sector and help end the shortage of 26 million of houses in the country.
After its governing council meet, the Confederation of Real Estate Developers Association (CREDAI) unveiled 10-point agenda to revive the realty sector, which is facing demand slowdown due to high interest rates on home loans………………………………………..Full Article: Source

India: Realty prices may go up, warn builders

Posted on 18 July 2012 by Laxman  |  Email |Print

The Punjab and Haryana high court order has given sleepless nights to private developers in Gurgaon. They have indicated that the realty prices could go up if they were forced to source water from other towns such as Noida, as it will send costs soaring.
The developers also blamed the Haryana government for its failure to provide adequate canal water despite collecting thousands of crores of rupees in the form of external development charges (EDC) and infrastructure development charges (IDC) from them………………………………………..Full Article: Source

Beijing real estate market warming up

Posted on 18 July 2012 by Laxman  |  Email |Print

Real estate developers’ appetite for land bids seems to have recovered, as home sales grew in the Chinese capital more than one year after unprecedented tightening policies were introduced to control the property market, market analysts said.
Two land bids hit high points on Tuesday. In the southern suburb of Daxing, a 53,870-square-meter plot was auctioned for 2.2 billion yuan (about 346 million U.S. dollars), according to the Beijing Land Reserve Center, a government body in charge of public land management………………………………………..Full Article: Source

Singapore: Property developers clear some 2pct of previously launched units

Posted on 18 July 2012 by Laxman  |  Email |Print

With fewer new launches during the June school holidays, property developers turned their focus to clearing off unsold units from earlier launches.
7,234 new private homes remained unsold last month, down by some two percent from May. Market watchers say these units, which were launched at prices before the recent rise in property prices, seem more like a steal compared to the newer launches………………………………………..Full Article: Source

How housebuilders are bucking the housing market downturn

Posted on 12 July 2012 by Laxman  |  Email |Print

Britain’s housebuilders are growing sales and profits, despite a housing market that is stuck in the doldrums. Just how are they doing it? After rivals Taylor Wimpey, Galliford Try and Bovis updated the market in recent days, Barratt Developments on Wednesday told the same story.
The sector is growing – its sales, selling prices and profit margins - despite a stagnant UK housing market………………………………………..Full Article: Source

Developers eyeing luxury London homes are ‘late to the party’

Posted on 12 July 2012 by Laxman  |  Email |Print

Developers of offices and shops in search of bigger profits in London’s red-hot luxury housing market may have missed the boat, after a huge surge in values since 2009 showed signs of easing, property experts said.
British Land, whose portfolio comprises mainly offices and shops, is reportedly in talks to buy a 200,000 square foot block in London’s Mayfair district that has permission to be developed into luxury homes and offices, for more than 150 million pounds ($232 million)………………………………………..Full Article: Source

India: Home buyers more keen on resale market; project delays trigger boom

Posted on 10 July 2012 by Laxman  |  Email |Print

Home sales in new projects across the country may have dipped in the last few quarters, but this hasn’t affected the resale market where business is actually booming.
Even banks and housing finance companies are seeing a shift as homebuyers are not willing to take a chance with delayed projects. Nearly 70% of those taking loans are investing in ready or nearly-ready homes, which is in sharp contrast to last year’s when 70% customers took loans to buy new homes and only 30% entered the resale market, says Destimoney, a company which provides home loans……………………………………….Full Article: Source

China indomitable developers – passing the debt parcel

Posted on 06 July 2012 by Laxman  |  Email |Print

China’s property developers have shown themselves to be the great survivors of China’s economy. After two years of having sales squeezed from one end and their supply of credit squeezed from the other, the industry has so far managed to hold out against steep price cuts and significant consolidation.
In large part that’s because developers have been able to tap non-traditional sources of finance – albeit at a much higher cost – even when Beijing thought it had turned off the tap………………………………………..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

Why India’s leading real estate firm DLF is returning to its roots

Posted on 05 July 2012 by Laxman  |  Email |Print

India’s biggest property developer DLF, burdened by debt and sluggish demand, is reining in its once-aggressive pan-India plans to focus on the familiar territory of its home market in northern India.
DLF, founded in 1946—a year before India’s independence—as Delhi Land and Finance, will concentrate on building high-margin luxury homes in north India while new projects in other parts of the country take a back seat………………………………………..Full Article: Source

Chinese developers face pinch

Posted on 05 July 2012 by Laxman  |  Email |Print

Standard & Poor’s Ratings Services says China’s more than 80,000 developers could face a battle for survival as a wave of short-term property loans fall due this year.
The risk is that these businesses could become so desperate they will either default, leaving behind half-finished projects at a time economic growth already is slowing, or start offering steep discounts, triggering a price war………………………………………..Full Article: Source

China’s land market defrosts

Posted on 04 July 2012 by Laxman  |  Email |Print

China’s land market is showing signs of activity as developers regain an appetite for buying after months on the sidelines.
Over the past two months, as sales in the property market have climbed and inventories dropped, better-financed developers have been replenishing their land banks, though the pace is far below average historical levels………………………………………..Full Article: Source

India: Real estate companies dole out liberal dividends to promoters

Posted on 03 July 2012 by Laxman  |  Email |Print

The current crisis in the real estate market has not prevented listed companies in the sector from doling out handsome dividends for the fiscal year 2012 and helping their promoters make a killing even as companies struggled to pare debt.
According to an ET analysis, 26 listed companies- most having a 50% or more promoter holding-recommended an aggregate dividend of Rs 722 crore during the year. And the country’s biggest real estate firm, DLF, which has a total debt of Rs 22,725 crore, made for half the payout at Rs 339.7 crore. ……………………………………….Full Article: Source

China property developers said looking overseas as rich clients buy abroad

Posted on 28 June 2012 by Laxman  |  Email |Print

Chinese real estate developers have begun investing in projects outside of the country in order to meet growing demand for overseas property among rich customers, Hong Kong’s South China Morning Post reported.
Buyers are looking overseas because of restrictions on real investments in the mainland, or because of a wish to emigrate or own a vacation home, the newspaper said………………………………………..Full Article: Source

Indonesia property market in its prime: Developer

Posted on 27 June 2012 by Laxman  |  Email |Print

Indonesian property stocks have fallen 18 percent this year from their peaks, but one of the country’s biggest property developers, Lippo Karawaci says the real estate sector is in its prime.
The CEO of the company’s shopping malls division, Michael Riady, told CNBC’s “Cash Flow” on Tuesday that “If you look everywhere there are shopping malls, condos, hotels, all sub sectors are performing really well right now. I think the Indonesian real estate sector today is at a prime time.”……………………………………….Full Article: Source

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