International News

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UK's Vistry to repurchase shares valued at USD 171 million

Author : PNT Bureau

British homebuilder Vistry announced a GBP 130 million (USD 171 million) share buyback last week, following a 7% increase in half-year earnings driven by strong demand for affordable homes. The Bank of England's August rate cut, its first in over four years, could offer relief to builders and homebuyers, with the new Labour government's planning reforms improving sector sentiment. Vistry, which earns a significant portion of its revenue from partnerships with local authorities and government bodies, has now returned GBP 285 million of its GBP 1 billion capital return target to shareholders over three years. Its adjusted pre-tax profit for the six months to 30 June rose to GBP 186.2 million from GBP 174 million....

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New home prices in China are growing slowly despite the government policies

Author : PNT Bureau

China Index Academy revealed that new home prices in the country are growing at a slow pace. The data noted that new home prices across 100 cities dropped from 0.13% in July to 0.11% in August. In 2021, the Chinese government enforced strict regulations to reduce debt levels among developers that caused a liquidity crisis. This has also led to many developers defaulting and halting construction activities. The property researcher said that the market will see some improvement with further implementation and effectiveness of supportive policies....

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Singapore lowers Loan-to-value limit to stabilize public housing resale market

Author : PNT Bureau

Singapore has lowered the loan-to-value (LTV) limit for public housing loans from 80% to 75%, aiming to cool the overheated resale market. Resale home prices have risen over 4% this year due to high demand and limited supply. To offset the impact on first-time buyers, the government increased the maximum housing grant from SGD 80,000 to SGD 120,000. Over 80% of Singaporeans live in public housing, so affordability is a key concern. The measures seek to balance housing affordability and demand management in the resale market, where the median 3-bedroom flat price is around SGD 500,000 in the central area....

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Adani Group establishes division to develop Nairobi Airport

Author : PNT Bureau

Adani Enterprises has established a wholly-owned subsidiary in Kenya, Airports Infrastructure PLC (AIP), as part of its bid to acquire Jomo Kenyatta International Airport in Nairobi. Owned by Abu Dhabi-based Global Airports Operator LLC, AIP will handle all aspects of airport management. Although the exact investment amount is undisclosed, sources suggest it could reach up to USD 810 million if due diligence is successful. This would mark the Adani Group's first international airport venture. The company plans to invest USD 100 billion over the next decade, with USD 21 billion for airports, and aims to surpass INR 1 trillion in EBITDA this financial year....

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Aldar Properties unveils an exclusive villa community on Yas Island

Author : PNT Bureau

Aldar Properties has unveiled Yas Riva, an exclusive villa community on Yas Island, offering canal-front and canal-accessible homes. The development blends sleek, modern architecture with serene waterfront living. Canal-front villas feature private docks, while inland homes offer contemporary design and access to landscaped parks and gardens. Yas Riva provides an array of amenities, including a health-and-wellness centre, outdoor recreation areas, and customisable outdoor pods. Located near Yas Island's premier attractions, the community underscores its commitment to sustainability. It aims for prestigious Estidama and Fitwel ratings through eco-friendly construction practices, epitomising both luxury and responsible living....

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China to reduce mortgage rates in two phases to protect banks

Author : PNT Bureau

China is planning a phased reduction of interest rates on USD 5.3 trillion worth of mortgages to ease financial pressure on households and bolster the economy. Regulators propose cutting mortgage rates by around 80 basis points in two stages, starting soon and continuing into next year. The move aims to stabilise the housing market while protecting banks, which are already facing profit margin declines. Analysts predict the cuts could boost consumer spending, with households potentially saving up to 300 billion yuan annually. However, banks, especially state-run lenders, may experience further margin contraction due to the rate reductions....

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Federal Reserve forecasts decline in housing inflation, signalling economic relief

Author : PNT Bureau

A recent Federal Reserve paper suggests a likely decrease in housing inflation over the next year, a development seen as beneficial for the US economy. Published on September 3 by the Federal Reserve Bank of San Francisco, the research highlights factors such as increased housing supply and potential monetary policy adjustments that could ease inflationary pressures. The anticipated decline in housing costs may boost consumer spending and economic growth, while offering the Fed greater flexibility in monetary policy. Stakeholders in the property and finance sectors will need to adapt their strategies to align with these evolving economic conditions....

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Blackstone acquires 80% share in european logistics fund

Author : PNT Bureau

Blackstone has agreed to purchase an 80% stake in a €1,1 billion (£950 million) European warehouse portfolio from Burstone, a Johannesburg-listed company formerly known as Investec's property fund. The portfolio includes properties in Germany, France, and the Netherlands. Burstone will receive €250 million in cash from the sale, which will fund its business expansion, and retain a 20% stake while its European team continues managing the portfolio. This acquisition aligns with Blackstone's strategy of investing in the warehouse sector, highlighted by its recent recapitalisation of Mile way, a last-mile logistics firm. The warehouse sector continues to thrive amid the e-commerce boom....

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UNDP and WASP collaborate to built 3D-printed homes in Colombia using local waste materials

Author : PNT Bureau

The UNDP is advancing sustainable housing in Colombia using WASP's Crane WASP, a large-format 3D printer that constructs buildings from natural materials like local dirt and agricultural waste. This versatile, mobile printer is ideal for challenging terrains and addressing housing shortages in rural areas such as forests, deserts, and mountains. With 3.7 million Colombian households facing a housing deficit, this technology offers a sustainable solution by eliminating the need for concrete and reducing energy consumption. The collaboration showcases innovative approaches to global challenges, potentially serving as a model for sustainable development in other regions....

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UK housing market gains momentum amid property shortage and push for faster home-building

Author : PNT Bureau

The UK housing market shows signs of new momentum, with a recent Lloyds Bank survey reporting a surge in construction sector confidence. The Royal Institution of Chartered Surveyors noted that expected sales over the next three months are the strongest since January 2020. Despite this, a shortage of available properties is likely to keep house prices supported in the medium term. The new government has pledged to accelerate home-building, announcing the creation of an expert group to fast-track housing projects stalled by planning and regulatory hurdles, aiming to address the housing supply crisis....