News Archive: commercial property

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10, 2010 February:

Singapore's first casino opens

This weekend could see the opening of Singapore's very first casino - something which is expected to turn the country into a mecca for Asia's rich and famous...

UK high streets decline

High streets decline further as shop vacancies hit one in five across Kent, Midlands and North East...

Why the tallest tower closed...

It must have been a terrifying moment for visitors to the world's tallest tower, which only opened last month...

Diamonds aren't forever?

Ritz-Carlton will close its five-diamond property in Las Vegas this May, after the hotel struggled with a slide in demand and revenue...

09, 2010 February:

World's tallest tower closes to tourists

The world's tallest skyscraper has unexpectedly closed to the public a month after its lavish opening, disappointing tourists headed for the observation deck and casting doubt over plans to welcome its first permanent occupants in the coming weeks...

London's office market: double digit growth?

The central London office market could see record double digit rental growth in 2010 as it benefits from a return of expansion-led occupier growth following an upswing in global trade and financial markets, according to analysts...

World's most expensive hotels

Hotels in Moscow have been revealed as the world's most expensive for a fifth consecutive year...

05, 2010 February:

QE2 won't sail to SA's World Cup

Dubai's cash-strapped owner of the QE2 says it will not sail the famed British ocean liner to South Africa to serve as a floating hotel during the World Cup this summer...

04, 2010 February:

New lease of life for Edinburgh landmark

One of the most iconic landmark in the Scottish city of Edinburgh is to get a new look and be brought back into use for the first time since 1968 following the local council's agreement to turn it into an Arts Hotel...

03, 2010 February:

Mandela refuge to become hotel

Vacant land around the ANC refuge where Nelson Mandela spent the last days of freedom before his arrest and subsequent 27 years in prison is to be used to build a boutique hotel to complement a historical museum currently open there...

01, 2010 February:

Japan construction at lowest level

New property construction in Japan fell to the lowest level in 2009 since the nation celebrated its postwar recovery by hosting the Olympics in 1964, as builders were hit by dwindling household incomes and sustained deflation...

29, 2010 January:

Tower to change face of Auckland

Part of an Auckland CBD block could be redeveloped in plans for a $200 million office tower...

28, 2010 January:

The eco side of commercial

A major report on the environmental performance of the commercial real estate sector is published today by three large European institutional investors - APG, PGGM, and the Universities Superannuation Scheme, together with some of the major real estate industry bodies...

Seeing double: Gold Coast airport

The tourism industry is banking on a $100 million doubling of the size of the Gold Coast Airport terminal to deliver a much-needed boost...

27, 2010 January:

Oldest opera house reopens

The oldest working opera house in Europe, the San Carlo Theatre in Naples, is to reopen on Wednesday following a two-year restoration project involving three hundred workers and an expenditure of £58 million...

26, 2010 January:

MoD gets green light to move

Expert consultants from WYG have given the go ahead for the Ministry of Defence (MoD) to occupy its new Joint Headquarters building on Northwood Headquarters site in Middlesex...

What does 2010 hold for US commercial?

US commercial real estate investors may have to wait until next year to see their returns start to grow as they are likely remain to remain in negative territory in 2010, according to analysts...

22, 2010 January:

Best UK hotels

You might expect our capital city and main tourist hub to boast some of the country's finest hotels, particularly with the Olympic Games just two years away...

London office space declines

The amount of London office space available to tenants has declined for the first time in two years as the London economy leads the country out of recession according to the RICS...

20, 2010 January:

London ‘top commercial destination'

London is the top global destination for commercial real estate investment, beating Washington D.C. and New York, according to a new survey...

14, 2010 January:

Unit owners join forces over rent

Overseas investors owed rental income on rooms in Wellington's $100 million Holiday Inn are joining forces with a New Zealand group to try to get their money back...

Entering the Ark

GE has signed up to occupy 100,000 sq ft of its own building, the Ark in London's Hammersmith, after the "white elephant" which has stood empty for much of its history failed to attract other tenants...

13, 2010 January:

The great Kiwi giveaway

If New Zealand springs to mind as a place in which you could envisage building a whole new life, why not check out one Kiwi businessman's very generous offer - it really could net you a new beginning. (And it won't break the bank either)...

11, 2010 January:

Comeback for Czech commercial

The decline in the Czech commercial property market eased towards the end of 2009 and turnover in the last three months of the year was the highest for almost a year...

Calling commercial landlords

Security and maintenance specialist, SitexOrbis, is advising commercial property landlords to review their vacant property portfolios, as the market shows signs of recovery...

08, 2010 January:

Office rents to surge in London

Office rents in London are expected to surge in 2010, boosted by rising confidence among financial tenants and tight supply, according to a new report...

Spain buys London's Strand Hotel

Spanish bank buys half-built Strand hotel in London...

06, 2010 January:

Singapore's first casino opens

Singapore's Resorts World Sentosa said Tuesday it will open phase one of the city-state's first casino complex on January 20, beginning operations at four luxury hotels...

04, 2010 January:

World's first superscraper

Flying in the face of the credit crunch, the world's tallest building opens today in Dubai, heralding a new dawn of the superscraper - but the final height of the Burj Dubai remained a closely guarded secret right up until its unveiling...

Thai developer ‘expanding aggressively'

A leading Thai developer is to expand aggressively in 2010 and looking to invest in China, Indonesia and the Maldives...

18, 2009 December:

France finally gets 5 star

A cliched recipe for success is to aim for the stars. France's luxury hotels say they need to reach for just one more - the world's largest tourism destination has introduced a five-star category to its hotel ranking system and the country's gilded establishments are flocking to apply, believing the upgrade will reel in higher rollers...

14, 2009 December:

What's next for UK commercial?

Cautious real estate investors should resist the temptation to join a stampede for UK commercial property in 2010 as the market treads a precarious path between a new boom or a second bust...

11, 2009 December:

Dubai: Sinking fund

2009 has undoubtedly been an annus horribilis for Dubai - not only has the once glittering empire been hit hard by the global credit crisis and the billions of dollars of debt, now comes news that one of its most iconic developments could be sinking into the sea...

Dubai merger called off

The merger between Dubai Holding, one of the emirates' biggest holding companies and Emaar Properties, developer of the world's tallest skyscraper, has been called off...

10, 2009 December:

Gatwick expansion plans still on

A second runway could still be built at Gatwick after an all-party committee of MPs said the plans should be resurrected instead of expanding Stansted...

09, 2009 December:

King saves his pennies

King Sturge's partners gave up half of their remuneration last year so that the money could be retained for use as working capital - the foregoing of nearly £10m in the year to 30 April 2009 came after a similar amount was retained in the previous year, equivalent to 30% of that year's remuneration for partners...

08, 2009 December:

Japan developer looks abroad

The number of new properties set to be built in Japan next year could drop to a 48 year low as economists warn of a double dip recession- not only is the economy likely to be sluggish but fewer young couples are buying houses, according to Takeo Higuchi, chief executive of Daiwa House Industry, Japan's largest house builder...

UK commercial looking strong

Strong demand and supply shortages has reversed eight months' of yield compression for prime UK commercial property assets as bank also reduce their exposure to commercial real estate debt, new reports show...

04, 2009 December:

Fund to buy Dubai distressed properties

An Irish property firm has launched a fifteen million dollar fund to take advantage of the downturn in the Dubai real estate market and buy back properties from investors...

Commercial defaults double

The amount of commercial property loans in the UK which are in default doubled in the first half of 2009, according to the latest De Montfort bank lending survey...

03, 2009 December:

Emaar will complete Egypt homes

Dubai property development firm Emaar Properties has announced that it remains completely committed to completing all its proposed Egypt property projects, despite reports to contrary- a recent report in an Egyptian newspaper claimed that the Dubai real estate developer was going to put to Egyptian housing projects on hold, in light of the recent financial debacle that has surfaced in Dubai...

02, 2009 December:

Tesco loses Liverpool appeal

Tesco has lost an appeal to build a supermarket in Liverpool which was in competition with a 45-acre St Modwen and Liverpool City Council scheme...

01, 2009 December:

US hit by Dubai debt crisis

The fragile US commerical property market could suffer badly as a result of the debt problems in Dubai, it is claimed - ‘With a global economy we are all attached at the hip financially in some way, shape or form...'

Retail kickstart called for

The British Council of Shopping Centres is calling on the Government to make a firm commitment to measures that kick-start the retail property development pipeline in its pre-Budget Report next week...

UK hotel ‘overcharging?'

Budget hotel operator Premier Inn has hit back at claims that its hotel offers are misleading after a rival told customers that they may have been overcharged for their rooms - rival hotel firm Travelodge has said that Premier Inn, who launched a high profile Christmas campaign with Lenny Henry to advertise up to 1 million rooms for the low price of £29-per-night, were misleading customers who visited its website as it did not include the offer in its Quick Book booking engine...

27, 2009 November:

Builders warn on public spending

Europe's leading construction companies have warned that rising government debt and the need to cut capital spending will lead to significantly lower levels of state-funded contracts - the continent's 100 largest building companies by revenue have issued a stark assessment of the industry's prospects, with many predicting a halving of government investment, according to a report published today by Deloitte...

26, 2009 November:

UAE developer hits South Africa

Abu Dhabi property developer, Royal Group, owned by royal Sheikh Tahnoon bin Zayed al-Nahyan, plans to build thousands of affordable residential properties in South Africa, the country's ambassador to the UAE has announced...

New York land-grab approved

A New York court has ruled that it is lawful for the state to seize private land for use by private developers wishing to build property in New York, among a range of other facilities, if it is considered to be in the "public good", reports the Wall Street Journal...

24, 2009 November:

World's ugliest buildings

Poor old Federation Square in Melbourne has made it onto VirtualTourist's annual list of the ‘World's Top 10 Ugly Buildings,' alongside New Zealand's Parliament building ‘The Beehive' and Center Georges Pompidou in Paris...