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Real Estate Development

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  • CAIRO, Oct 20- SODIC, one of Egypt's largest listed real estate developers, plans to invest 2.4 billion Egyptian pounds in 2015 and is hunting for new projects as the sector recovers from three years of turmoil, its managing director said. Egypt's once-booming construction sector was hit hard by the 2011 revolt that ended Hosni Mubarak's 30- year rule but ushered...

  • Thailand plans one of world's tallest skyscrapers Wednesday, 15 Oct 2014 | 2:57 AM ET

    And it's coming to Bangkok. According to the Council on Tall Buildings and Urban Habitat, which maintains a database of the tallest skyscrapers, the Bangkok " Super Tower" will be the world's ninth tallest if it is built on schedule. The developer intends the tower as the center of a new business, shopping and residential district in Bangkok costing 100 billion baht.

  • Former NC mayor sentenced for taking bribes Tuesday, 14 Oct 2014 | 4:02 AM ET

    CHARLOTTE, N.C.— The former mayor of North Carolina's largest city on Tuesday was sentenced to almost four years in prison for taking bribes from undercover federal agents he thought were developers seeking to fast-track projects. Patrick Cannon had resigned in the midst of the case that stunned Charlotte residents who had once elected him as their youngest...

  • 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...

  • 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.

  • Home builders to woo entry-level buyers: Pro Wednesday, 24 Sep 2014 | 5:15 PM ET
    Workers apply stucco at a housing development under construction in Jupiter, Fla.

    As home builders try to gain more business, more will be going after the entry-level buyer, real estate expert Bradley Hunter told CNBC Wednesday.

  • 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.

  • Chinese building US housing     Wednesday, 3 Sep 2014 | 1:52 PM ET

    Chinese company Landsea is putting $1 billion into the site of 200 condos in New Jersey. CNBC's Diana Olick has the details.

  • More NJ casinos? You betcha! Tuesday, 19 Aug 2014 | 8:30 AM ET
    The Trump Plaza ,which is scheduled to close, is viewed in Atlantic City on July 30, 2014 in Atlantic City, New Jersey.

    With four casinos shutting down in Atlantic City by October, New Jersey is suddenly awash in plans for, well, more casinos. The NYT reports.

  • 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.

  • DoubleLine's Gundlach: Short homebuilder ETFs now Friday, 8 Aug 2014 | 5:47 PM ET
    DoubleLine Capital CEO Jeffrey Gundlach speaks at the Bloomberg Markets 50 Summit in New York.

    Home ownership rates in will likely fall to levels last seen in the 1980s as millennials wait longer to form households, DoubleLine's Gundlach said.

  • *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.