Chinese conglomerate Citic swaps residential properties for China Overseas’ shares and commercial projects
Citic, China’s largest state-backed conglomerate, will sell nearly all of its residential property projects worth around 31 billion yuan (HK$37.02 billion) to China Overseas Land & Investment in exchange for a 10 per cent stake in the property giant and 6.15 billion yuan of the latter’s commercial properties.Citic expects to book a gain of HK$9 billion to HK$11 billion from the disposal, on which an agreement was signed on Sunday.
Dubai residential property market shows signs of recovery – report
Residential real estate prices in Dubai may have started bottoming out in certain areas, a new report has found.The monthly ValuStrat price index for Dubai’s residential market found that – on average – there were minute indications of an early recovery in some areas in February.Compared to a 100 point base in January 2014, the February 2016 index registered 98 points, with no significant change in values when compared to the previous five months.
Budget announcements set to boost India’s residential property market
India’s residential real estate market is set to see a boost with moves that will increase the supply of properties for sale and demand.Experts point out that change announced in the 2016/2017 Union Budget will see a reduction for first time buyers of INR 50,000 on interest repayment for loans up to INR 35 lakh where the cost of a house is INR 50 lakh and this will boost the demand for housing at the lower end of the market
Residential property prices fall by 13 pc in 2 years: Economic Survey
THE CITY Beautiful has witnessed a fall of 13 per cent in prices of residential properties between the first quarter of 2013 and the first quarter of 2015.As per the latest annual Economic Survey, out of 26 cities, 20 witnessed an increase in prices while six saw a decline with the maximum fall witnessed in Chandigarh, followed by Delhi with a fall of 6 per cent in the same period.Panchkula and Mohali have been clubbed with Chandigarh.
Ross Avenue seeing new investment in retail, residential property
Amid the hustle and bustle along Ross Avenue, dirt is turning and neighbors are watching as businesses, retail spaces, and more housing options continue popping up along the busy street.Back Home BBQ is one of the new businesses in the center of the development. The restaurant opened four months ago.