Real Estate

Cushman & Wakefield Leases Space in One World Trade Center

Cushman & Wakefield Leases Space in One World Trade Center

Cushman & Wakefield, a Manhattan based real estate firm, is leasing a space on the 45th floor of New York City’s One World Trade Center.

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China sets up new bureau to enhance real estate tax system

China sets up new bureau to enhance real estate tax system

In a bid to augment its land management regulations, China recently set up a Bureau of Real Estate Registration that will roll out a national system of real estate registration.

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Sovereign Wealth Fund to Invest $10 million in NMRC

Sovereign Wealth Fund to Invest $10 million in NMRC

Sovereign Wealth Fund will invest $10 million in the Nigerian Mortgage Refinancing Company (NMRC) to improve its market position. As per Mr. Uche Orji, Chief Executive of Nigeria Sovereign Investment Authority, the current investment in NMRC has been planned as a core equity investor by SWF.

The Nigerian government provided additional funding of $550 million to SWF two weeks back. The current portfolio of Sovereign Wealth Fund is worth $1.55 billion.

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South Africa Real Estate Gains 6.8% in 2013

South Africa Real Estate Gains 6.8% in 2013

House prices across South Africa registered average gain of 6.8% as per data released by FNB House Price Index on Tuesday. However, the rise was lower compared to year 2012 when the real estate prices firmed up by 7.1 percent. However, the real estate price rise compared to basis of inflation is much lower.

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US Pending Home Sales Increase Slightly in November

US Pending Home Sales Increase Slightly in November

On Monday, National Association of Realtors (NAR) said that contracts to buy earlier owned U.S. homes rose slightly in November. This put an end to five consecutive months of drop. NAR also said that pending home sales index went up by 0.2% to 101.7% in November.

The figure released in November was much less than the 1.5% average estimates of forecasters. NAR improved sharply downward the October figures to a fall of 1.2%. The figure is twice more than the previous estimation.

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Simon Property Group splits in Two No North Hampshire Malls affected

Simon Property Group splits in Two No North Hampshire Malls affected

Simon Property Group, the company which owns most of the key malls in New Hampshire is splitting in two, untying smaller properties from larger ones to take advantage of growth in smaller strip malls, but no properties in the area are affected.

On Friday it announced that it will create a new company, called SpinCo. This group owns the Pheasant Lane Mall, Merrimack Premium Outlets, The Mall at Rockingham Park and the Mall of New Hampshire.

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Bailiffs Seized MMD‘s Property for Rental Arrears

Bailiffs Seized MMD‘s Property for Rental Arrears

Bailiffs apprehended property of Kwacha from Movement for Multiparty Democracy (MMD) secretariat in order to recover an amount of K461 million. The amount had accumulated from the rental amount over due's to be paid to National Pension Scheme Authority (NAPSA).

The MMD has its secretariat office at top floor of NAPSA building in Lusaka. The MMD was provided a legal notice to clear rental dues that were not paid. The Bailiff Officer Mr. Masautso Banda ordered to get hold of all office furniture and computers from the MMD secretariat office.

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Dubai property market on recovery path

Jones Lang Lasalle recently released its report highlighting current trends in the property market of emirates. Property prices in many areas have shown quick recovery especially in the luxury villas category.
Prices for luxury villas in projects as Palm Jumeirah and Arabian Ranches reported an increase of 3 percent during the second quarter.

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Couples Sharing Rooms with Others to Save Money

Couples Sharing Rooms with Others to Save Money

According to flat sharing website easyroommate. co. uk, it was revealed that one in nine people are expecting the rents to decrease so that they can divide the rents with their partner. It would be difficult to stay with partners because couples will not be able to afford the increased rent, if they want to live alone.

It unveiled that couples can save more than £3,100 in a year if they are opting to share with others as well. However, the property prices will be doubled as many couples will choose to save the money and share their rooms with others.

Trouble in the Housing Industry

Trouble in the Housing Industry

There is a state of crisis experienced in the Housing industry. There are as many as 1.5 million homes that were built so poorly that they are in dire need of rebuilding or repair that would cost the industry billions, according to the Human Settlements Minister, Tokyo Sexwale.

He further added that, “I am the Minister of Human Settlements, not the Minister of Rectification”. He said this amidst the debates that have surrounded the department when they have a total budget of R22.5 Billion, which is 38% more than that of last year.

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