The debt-ridden Chinese real estate group Evergrande suspended its operations on the Hong Kong Stock Exchange again this Monday without giving an explanation. Chinese media echoed a document from the local government of Danzhou, on the southern island of Hainan, which ordered Evergrande to demolish 39 buildings within ten days because the...
A study indicates that more than half (60%) of construction and public works companies recorded a stabilization of their activity during the third quarter of this year, despite a shortage of skilled labor and rising raw material prices. "Assessments of firms' overall activity compared to the previous quarter held steady in the third quarter relative to the three...
The building will be 678.9 meters high and have 118 floors, and is scheduled for completion in the 2nd half of 2022. It is a project that will include residential properties, commercial spaces, and a hotel. To be erected in downtown Kuala Lumpur, Malaysia, the building has a triangular glass façade...
The Bank of Mozambique on Thursday inaugurated its branch in the city of Nampula. Inaugurated by the President of the Republic, Filipe Nyusi, the facility was built from scratch and occupies an area of 7,500 square meters, work on which began in 2012. According to the governor of the Bank of Mozambique, Rogério Zandamela, the new branch of the...
It is already the third time that the scenario is repeated and the Chinese construction giant Evergrande, which is going through a serious liquidity crisis, gets away with it again and manages to pay, at the last minute, interest on debt securities, thus avoiding default. Sources who closely follow the situation of the Real Estate Company, refer that the...
The US Federal Reserve's (Fed) latest biannual Financial Instability Report, published earlier this week, warns of possible implications of China's real estate problems for the US financial system. Tensions in China's real estate sector could put pressure on China's financial system, with possible consequences for the United States,"...
The International Monetary Fund (IMF) recently released its Global Housing Price Index. The results showed that housing prices rose by 75% among the countries analyzed. Luxembourg tops the list of 60 countries analyzed by the IMF, where prices to own a home are sky-high and rising constantly. Over there,...
Real estate development giant Evergrande has in the last 24 hours transferred $83.5 million to a trust account at Citibank and escaped bankruptcy, writes state media. The funding line in question has a grace period of 30 days so Evergrande was able to gather enough liquidity to meet the payment...
The market holds a value almost 4 times the world's GDP and that its growth was driven by the residential segment, accounting for 79% of the total value, reveals the latest report from consulting firm Savills. The consultancy says that this growth in the value of the property market has been driven by the residential segment, which has performed as...
Olshan's Luxury Market Report reveals that New York's residential real estate market is poised to hit a 2021 record high. The numbers of signed contracts for properties valued at over $4 million is doubling year over year. That's a good way to go for the numbers....