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Real Estate Management & Development

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  • TORONTO, Oct 13- While Toronto's housing boom. Canada's biggest city has more than 100,000 units under construction as developers and investors seek to cash in on condo prices that are up 25.7 percent in the city over the past five years. Glass panels have been falling off newly built Toronto condos, including the luxury Shangri-La and Trump towers and a dozen or...

  • HONG KONG, Oct 13- China's Agile Property Holdings Ltd is in talks with banks to extend a remaining bridge loan, the company said on an analyst briefing call on Monday. Shares in the Hong Kong- listed property developer slumped by more than a fifth as trading in the stock resumed following news last week that it withdrew a rights issue and that its chairman Chen Zhuo...

  • SHANGHAI, Oct 8- China's main share index hit a 20- month high in intraday trade on Wednesday, underpinned by strength in property developers after the central bank rolled out policies to boost the struggling sector. Before the week-long break, the People's Bank of China cut mortgage rates and downpayment levels for some home buyers for the first time since the...

  • US agency issues permit for Canada-NYC power line Tuesday, 7 Oct 2014 | 3:01 AM ET

    ALBANY, N.Y.— The U.S. Department of Energy has issued a Presidential Permit for a 330- mile electric transmission line to carry lower-cost Canadian hydroelectric power to New York City. The project is aimed at saving about 2 percent to 3 percent on energy bills in New York City. The line will run under the length of Lake Champlain, through parts of the Hudson, Harlem...

  • Brookfield wins auction for bankrupt Revel Casino Wednesday, 1 Oct 2014 | 7:09 AM ET

    Oct 1- Brookfield Asset Management has won the auction for Atlantic City's bankrupt Revel Casino Hotel, said a source familiar with the situation. The company bid $110 million for the casino complex, topping a $90- million bid by Florida real estate developer Glenn Straub, who did not submit a superior bid by 5.00 a.m. ET, the source said.

  • Sept 30- An affiliate of Brookfield Asset Management has topped Florida real estate developer Glenn Straub's $90 million bid for the bankrupt Revel Casino Hotel in Atlantic City, the Wall Street Journal reported, citing sources.

  • Brookfield bids for Atlantic City's Revel Casino - WSJ Tuesday, 30 Sep 2014 | 1:24 PM ET

    Sept 30- An affiliate of Brookfield Asset Management has topped Florida real estate developer Glenn Straub's $90 million bid for the bankrupt Revel Casino Hotel in Atlantic City, the Wall Street Journal reported, citing sources.

  • *Tokyo government downgrades casino project. TOKYO, Sept 29- Plans to open Japan's first casino in Tokyo before the 2020 Olympics are becoming increasingly unlikely, with developers facing skyrocketing building costs and a city government that no longer considers casino development an economic priority.

  • SYDNEY, Sept 25- Adani Mining on Thursday took a step closer to the development of a A $2.2 billion coal mining project in Australia after the federal government approved construction of a rail haulage line.

  • HONG KONG, Sept 18- China shares held onto slim gains on Thursday, as a jump in banking stocks outweighed falling property developers hurt by weak housing data. Gemdale Corp shed 2.9 percent, while Poly Real Estate Group lost 0.9 percent.

  • China shares end higher; machinery, property firms gain Wednesday, 17 Sep 2014 | 3:06 AM ET

    HONG KONG, Sept 17- China shares ended higher on Wednesday, reversing earlier losses, supported by machinery firms and property developers that were buoyed by Premier Li Keqiang's plans on urbanization.

  • China shares close higher for 5th day, property shines Thursday, 4 Sep 2014 | 3:09 AM ET

    HONG KONG, Sept 4- China shares rose for a fifth straight day on Thursday, boosted by strength in real estate developers after Reuters reported Beijing is relaxing financing rules for listed property firms.

  • WILLISTON, Aug 18- A subsidiary of real estate developer The Prime Group Inc said on Monday it plans to build a $150 million convention center in Williston, North Dakota, aiming to supply a world-class meeting space for the fast-growing oil boom community.

  • *Greentown China plunges on profit warning. HONG KONG, Aug 5- Hong Kong and China shares slipped on Tuesday after a survey showed growth In China's services sector fell to a record low, with property developers the main underperformers.

  • CALGARY, Alberta, Aug 4- Canexus Corp, the developer of Canada's first dedicated oil train terminal, has embraced the crude-by-rail boom with little success so far. The company's Bruderheim terminal, 55 kilometers northeast of Edmonton, Alberta, is one of seven unit train terminals operating or under construction in Western Canada.

  • HONG KONG/ SHANGHAI, Aug 4- China shares regained momentum on Monday on positive market comments from the country's top securities regulator, while gains in Hong Kong were restrained by weak property developers.

  • *COGO H1 net profit down 31 pct, cuts FY sales target 22 pct. HONG KONG, July 31- A number of small developers- the kind that by sheer weight of numbers dominate China's vast property sector- are set to report big drops in earnings or even losses as the industry grapples with tight credit, sluggish sales and excess supply.

  • China's property minnows take big hit as downturn bites Wednesday, 30 Jul 2014 | 5:00 PM ET

    HONG KONG, July 31- A number of small developers- the kind that by sheer weight of numbers dominate China's vast property sector- are set to report big drops in earnings or even losses as the industry grapples with tight credit, sluggish sales and excess supply.

  • Hong Kong shares rise for 7th day, property leads Wednesday, 30 Jul 2014 | 4:09 AM ET

    HONG KONG, July 30- Hong Kong's benchmark index climbed to fresh 3-1/ 2- year highs on Wednesday, with major property developers leading the rise as investors bet on a solid performance for first-half earnings. Hong Kong's property sub-index climbed to a 14- month high with Cheung Kong Holdings and Sun Hung Kai Properties leading the rise.

  • HONG KONG, July 29- Hong Kong's benchmark index ended at its highest in more than 3-1/ 2 years on Tuesday, as gains accelerated in the afternoon with property developers strong ahead of interim earnings. The Hang Seng Index closed up 0.9 percent at 24,640.53 points, its highest since November 2010.