Vietnam’s property developers struggle amidst debt woes and real estate sector struggles
Author : PNT Bureau
Vietnam’s listed property developers, grappling with mounting debts, face challenges as profits decline and cash reserves hit a five-year low. Moody’s co-owned rating agency reported a deterioration in debt ratios and a credit crunch in the real estate sector. No Va Land, amid missed payments, is discussing debt restructuring. Despite some improvement due to increased bank credit, the Asian Development Bank (ADB) warns of potential spillover into the banking sector. The agency anticipates subdued sales in H1 2024 due to a low property supply and slow recovery in homebuyers’ sentiment but expects a gradual recovery in developers’ performance from H2 2024....
Shimao’s struggle highlights challenges in China’s real estate market
Author : PNT Bureau
The struggling Chinese real estate sector, marked by defaults and economic challenges, faces another setback as Shimao Group’s auction of valuable land plots in Shenzhen fails for the second time due to lack of bidders. The assets, part of Shimao’s attempt to raise funds after defaulting on $11.8 billion in offshore debt, highlight the ongoing challenges in the Chinese property market. Despite government measures to support the real estate sector, including relaxing home purchase restrictions and lowering borrowing costs, the industry continues to grapple with a bleak economic outlook and declining sales, as evidenced by recent data....
Nikki Beach Residences: A Seaside Haven of Luxury and Leisure in Ras Al Khaimah
Author : PNT Bureau
Nikki Beach Residences, a new development by Aldar Properties on Al Marjan Island in Ras Al Khaimah, promises a unique beach living experience. The community, strategically located between Rixos Bab Al Bahr and Doubletree by Hilton, offers one- to five-bedroom serviced apartments with expansive balconies and smart living features. Residents will enjoy exclusive services, amenities, and access to Little Nikki Kids Club. The development aims for LEED Silver certification and adheres to Fitwel standards. Al Marjan Island, a prominent leisure destination, provides a serene escape with ocean views, running and cycling routes, and proximity to key attractions and natural landscape....
Spanish Banking Conundrum: Mortgage support and economic performance
Author : PNT Bureau
Bank of Spain Governor Pablo Hernandez de Cos has stated that there is no need for banks to extend mortgage relief measures for vulnerable households in the country. He noted that there has been limited uptake by citizens, with only 42,000 requests submitted in the first seven months of 2023, despite the government granting mortgage relief support to over a million households in November 2022. The Spanish government had announced plans to raise the annual income threshold for mortgage relief support to 38,000 euros. The governor mentioned that the economy has been performing reasonably well, and there is no immediate need for modifications....
U.S. single-family homebuilding sees marginal rise despite builder confidence dip
Author : PNT Bureau
In October, there was a slight increase in U.S. single-family homebuilding, despite a decline in homebuilder confidence to an 11-month low in November. The Commerce Department's report revealed a surge in permits for future single-family homebuilding to the highest level in nearly 1 1/2 years. This suggests a supportive environment for new construction amid a severe shortage of available houses. The third-quarter uptick in residential investment, following a nine-quarter decline, indicates a positive trend. Economists anticipate potential declines in building activity during the winter due to rising loan rates for builders, but there's optimism for increased demand if mortgage rates decrease in the latter half of the following year....
Seoul's Office Space Boom: 98% occupancy reflects cultural shifts in post-pandemic work
Author : PNT Bureau
The increased occupancy of top-tier offices in Seoul, with over 98% currently filled, signals a return to the office for white-collar workers post-pandemic. This surge in demand has led to a 15% rise in rental prices over the past year. The trend is attributed to cultural factors, with Koreans more willing to return to the office when asked. The shift is notable, considering that in the summer of 2021, a survey indicated that 91.5% of major firms implemented a work-from-home policy. Now, less than 60% allow remote work, and the scarcity of office space is expected to persist until ongoing construction projects are completed, potentially easing by 2025. South Korea's economic growth and consistent investments contribute to sustained demand for office space. This contrasts with the Western scenario, where office spaces are being reduced, and property prices are declining....
Angelina Jolie and Brad Pitt's former New Orleans Mansion up for auction
Author : PNT Bureau
A historic New Orleans mansion, once owned by Angelina Jolie and Brad Pitt, is set for auction with a starting bid of $1 million, managed by Interluxe Auctions. The 7,703-square-foot property, built in the 1830s, boasts private balconies and a storied past, including ownership by Microsoft co-founder Paul Allen. The interiors showcase modern design elements, with seven bedrooms, five bathrooms, and a two-story guest house. Amenities feature a home gym, elevator, workshop, and a gated driveway, complemented by a private courtyard with a pool and fountain. The property, initially listed at $5.35 million, underwent price reductions before reaching its current....
Australia implements innovative tech for enhanced road safety measures
Author : PNT Bureau
Denmark's iPAVE technology, mounted on trucks, is revolutionizing road assessment in South Australia. Using lasers and cameras, iPAVE swiftly gathers data on road texture, condition, and bearing capacity at highway speeds, covering 400 state-maintained roads without traffic control. This innovation aids in prioritizing road repairs and upgrades, offering insights into surface and structural conditions. The Minister for Regional Roads plans to leverage iPAVE data for a comprehensive regional road audit. With 2,500 km already surveyed, the project aims to complete 18,000 km by April, showcasing a promising leap in road infrastructure management....
25.4% YoY decline in land sale revenues is emptying the pockets of local governments of China
Author : PNT Bureau
October marked a 25.4% YoY contraction in China's government land sales revenue, alarms caution among property developers amid financial constraints. From January to October, a substantial 20.5% YoY revenue drop unfolded, reflecting a ten-month financial downturn with broader economic implications. The diminishing revenue from land sales poses a risk to local governments, entwined with debt and project hurdles. Beijing responds proactively, instructing state-owned banks to extend local government debt maturity, showcasing strategic financial adaptation to address economic concerns amid the evolving challenges....
Indian investors beat Russia and UK to take the lion's share of real estate investments in Dubai
Author : PNT Bureau
In the third quarter of 2023, Indian investors surpassed the British to become the top real estate investors in Dubai, according to Betterhomes Real Estate. The surge in Indian investments is attributed to factors such as the Golden Visa program and increased interest in diversifying investment portfolios. Russia, a consistent top player, dropped out of the top three rankings due to economic turmoil. Dubai's real estate sector recorded 28,249 deals in Q3, a 23% YoY increase. Indian investors' interest has impacted luxury real estate prices, which surged 50% over the year. This shift underscores the evolving landscape of Dubai's real estate market....
This disclaimer ("Disclaimer") is applicable to the entire Site. Upon entering the Site it is recommended that you immediately read the Terms and Conditions and Privacy Policy listed therein. Your continued usage of this Site will indicate your unconditional acceptance of the said Terms and Conditions and Privacy Policy. You hereby agree that Prop News Time reserves the right to modify at any time, the Terms and Conditions and Privacy Policy governing this Site without prior notification. Your usage of the Site implies that you will be bound by any such modification. You agree and acknowledge that it is your responsibility to periodically visit the Site and stay updated with the Terms and Conditions and Privacy Policy of the Website.
The information contained in this Site has been provided by Prop News Time for information purposes only. This information does not constitute legal, professional or commercial advice. Communication, content and material within the Site may include photographs and conceptual representations of projects under development. All computer-generated images shown on the Site are only indicative of actual designs and are sourced from third party sites.
The information on this Site may contain certain technical inaccuracies and typographical errors. Any errors or omissions brought to the attention of Prop News Time will be corrected as soon as possible. The content of this Site is being constantly modified to meet the terms, stipulations and recommendations of the Real Estate Regulation Act, 2016 (“RERA”) and rules made thereunder and may vary from the content available as of date. All content may be updated from time to time and may at times be out of date. Prop News Time accepts no responsibility for keeping the information on this website up to date or any liability whatsoever for any failure to do so.
While every care has been taken to ensure that the content is useful, reliable and accurate, all content and information on the Site is provided on an "as is" and "as available" basis. Prop News Time does not accept any responsibility or liability with regard to the content, accuracy, legality and reliability of the information provided herein, or, for any loss or damage caused arising directly or indirectly in connection with reliance on the use of such information. No information given under this Site creates a warranty or expands the scope of any warranty that cannot be disclaimed under applicable law.
This Site provides links to other websites owned by third parties. Any reference or mention of third-party websites, projects or services is for purely informational purposes only. This information does not constitute either an endorsement or a recommendation. Prop News Time accepts no responsibility for the content, reliability and information provided on these third-party websites. Prop News Time will not be held liable for any personal information or data collected by these third parties or for any virus or destructive properties that may be present on these third-party sites.
Your use of the Site is solely at your own risk. You agree and acknowledge that you are solely responsible for any action you take based upon this content and that Prop News Time is not liable for the same. All details in the form of news stories, photos and videos provided on this Site are updated on the basis of information available from the respective developers/owners/promoters. All such information will not be construed as an advertisement. This Site is for guidance only. Your use of this Site – including any suggestions set out in the Site and or any use of the resources available on this Site, do not create any professional–client relationship between you and Prop News Time. Prop News Time cannot accept you as a client until certain formalities and requirements are met.
Cookie Disclaimer
We use cookies to give you the best possible service while using our website, please accept it and continue browsing if you're happy with this. For more information see our Privacy Policy
