Commercial and residential property news
New York, NY – March 5, 2008 – For the seventh year in a row, CB Richard Ellis has been named the leading global brand in commercial real estate, according to a survey of real estate professionals from around the world. CB Richard Ellis has been named the top brand every year since the survey’s inception in 2002.
Read moreSt Hilliers Funds Management Limited has confirmed the successful winding-up of the St Hilliers Enhanced Property Fund No.1 (the Fund), the first in its series of closed-end unlisted property funds.
Read moreDevine Limited advises that two senior managers of its Construction Division, Devine Constructions, had their employment with the company terminated on Friday 29th February 2008. This action resulted from clear evidence of breaches of the company’s policies in relation to “Ethical Code of Conduct” and “Conflicts of Interest” and evidence that both have undertaken fraudulent activities in respect of the Devine Group.
Read moreNEW IDENTITY UNDERLINES POSITION AS ONE OF AUSTRALASIA’S LEADING DIVERSIFIED PROPERTY ORGANISATIONS
Read moreThe Reserve Bank of Australia (RBA) has announced today that the Official Cash Rate will increase 25 basis points. The
Read moreThe Australian Government today formally established a significantly expanded National Rental Affordability Scheme.
Read more"Another severe blow was dealt to home buyers in the December quarter 2007, with interest rate rises biting hard and home loan affordability deteriorating across Australia, except in Western Australia," says Noel Dyett, President of the Real Estate Institute of Australia, in Canberra.
I refer to the ASX’s letter dated 26th February 2008. A.B.C. Learning Centres Limited (“Company”) sets out below its responses to the specific queries raised in your letter.
Read moreLend Lease delivers strong half year profit result amid tough market conditions
* Statutory Profit After Tax up 49% to A$259.6m
* EPS on Operating Profit up 60% to 65.5 cents
* Net Operating Profit After Tax up 61% to A$262.8m Interim dividend up 23% to 43 cents a share
Half Year Results – “Disciplined strategy leads to improving opportunities”
ING Office Fund (IOF or the Fund), today announced an operating profit of $140.4 million for the six months ended 31 December 2007.
Read moreThe Westfield Group (ASX:WDC) today announced its full year results, reporting operational segment earnings for the year ended 31 December 2007 of $1.79 billion, up 11.6% over the prior year. This represents 96.12 cents per security, an increase of 6.0% on a constant currency basis.
Read more* Solid performance from diverse operations across 13 countries
* Proven funds platform, raising A$1.2 billion of equity and debt in 2H08
* AUM of A$20.5 billion, diversified by sector, geography and business line
* Continued focus on integration and consolidation of Australasian, European and UK platforms
Macquarie CountryWide Trust (ASX: MCW) today announced a 2.5 per cent increase in distributable earnings to A$97.7 million for the six months to 31 December 2007, representing 7.35 cents per unit. Earnings before losses on asset sales were 7.76 cents per unit. The Trust distributed 7.80 cents per unit to investors on 22 February 2008.
Read morePelorus Property Group (ASX Code: PPI), which has initiated a bid to take over management of one of Centro’s unlisted property syndicates, Centro MCS16, has today released its half year results.
Read moreAspen Announces Strong Half Year Result
Aspen Group (ASX: APZ) is pleased to report a strong performance for the half year to 31 December 2007, with the Group’s underlying net profit after tax up 63% at $19.0 million. Contributions across all business divisions have combined to produce this result, leaving the Group well placed to record a strong full year performance.
Read moreGalileo Japan Funds Management Limited (‘GJFML’), the responsible entity for the Galileo Japan Trust (the Trust) is pleased to provide details of the Trust’s interim result for the period ended 31 December 2007.
Read moreDB RREEF Trust (ASX: DRT) today announced it had acquired Deutsche Bank’s 50% interest in its management company, DB RREEF Funds Management Ltd, and rebranded to DEXUS Property Group.
Read moreCentro Properties Group (Centro) announced today that its financiers both in Australia and the US have further extended finance arrangements as follows:
Read moreCopyright of home designs will come under scrutiny this year in the courts, after Australia’s eleventh biggest home builder, Porter Davis, launched another round of legal action against the third biggest, Metricon.
Read moreFINANCIAL HIGHLIGHTS
* Half year net profit after tax of $388.4 million, an increase of 86.4 per cent
* Half year operating profit after tax of $215.0 million, an increase of 41.2 per cent
* Half year distribution of 16.45 cents per stapled security, an increase of 3.1 per cent
* 5.8 per cent rise in NTA per stapled security to $4.02 from $3.80 as at 31 December 20061
* Activities under control increased from $26.3 billion at 30 June 2007 to $27.8 billion
* Gearing reduced to 29.8 per cent2
Leading Australian property finance and investment group, Ashe Morgan Winthrop, has announced the appointment of two new senior executives directly supporting the managing director, Michael Rothner.
Read more�� Confirms FY08 guidance of 5% EPS growth
Stockland delivered a strong performance for the half year ended 31 December 2007
(1H08), recording a net profit attributable to security holders of $672.5 million, including
property revaluations and other non-operating items.
HEADLINE RESULTS
�� Operating profit* increased by 10.7% to $324.6 million.
�� Earnings per security* increased by 4.2% to 22.4 cents
�� Dividend/distribution per security increased by 5.1% to 22.6 cents#
* (before certain significant items)
Macquarie Group Limited (Macquarie, ASX:MQG) Managing Director and Chief Executive Officer Allan Moss said today that subject to market conditions, Macquarie’s profit for the year to 31 March, 2008 is expected to be at least $A1.8 billion, which would be 23% up on the prior year.
Read moreThe roaring pace with which the commercial property markets developed momentum in the final months of 2007, has come to a grinding halt, as the full effects of interest rate rises, share market volatility and a dip in business and consumer sentiment takes its toll on a stunned market.
Read moreSpeaking to a full house at a Urban Development Institute of Australia function at Crown Casino last Friday, St George Bank Head of Economic Research Steven Milch said he expects the Reserve Bank of Australia to lift official interest rates when it meets this week, despite the US Federal Reserve continuing to cut rates in the United States.
Read moreAllco Principals Investments Pty Ltd (API), a wholly owned subsidiary of the Allco Principals Trust (APT) holds 45,802,729 shares in Allco Finance Group (AFG) as previously advised in the substantial shareholder notice dated 5 April 2007. These shares are secured in favour of four margin lenders.
Read moreAt its meeting yesterday, the Board decided to leave the cash rate unchanged at 6.75 per cent. As part of wider changes to communication practices which the Board has adopted (see separate announcement on communication), it was further decided that a statement explaining the decision would be released.
Read moreThe Commonwealth Bank today announced that as a result of increased wholesale funding costs in financial markets it is lifting interest rates on its variable home loan by 0.10 per cent per annum to 8.67 per cent per annum (8.79 per cent per annum Comparison Rate*).
Read moreThe Real Estate Institute of Australia (REIA) has released its annual summary of the residential and commercial real estate market today, providing a unique insight into what the market has done over the 2006-07 financial year.
Read moreThe median price for a house in Melbourne surged 25 per cent in 2007, to $463,488, making it the fastest growing of all Australian capital cities, according to new research by Australian Property Monitors.
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