News

Esprit Holdings Ltd., the biggest Hong Kong-listed clothier, said full-year profit dropped 11 percent as consumer spending in Europe, where it made more than four-fifths of sales, weakened and the euro declined / Source: Bloomberg
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A sharp pickup in real state prices in China is a key risk to the nation’s economic growth and is leading to a classic bubble situation, according to Standard & Poor’s / Source: Property Wire
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MGPA, the private equity real estate investment advisory company, announced on Wednesday that it has exchanged contracts to acquire a portfolio of 140 properties in a sale-and leaseback transaction from German retail discounter Aldi / Source: PropertyEU
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U.S. commercial real estate yields are near the highest level relative to Treasury bonds on record, a signal to some investors it’s time to buy property / Source: Bloomberg
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Carrefour SA, the world’s second- largest retailer, posted first-half profit that trailed analysts’ estimates, hurt by weaker superstore sales in Europe and Brazil, and costs for closing outlets in Belgium / Source: Bloomberg
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Hermes International SCA, the French maker of luxury handbags and silk scarves, said first-half profit increased 55 percent, beating analysts’ estimates, on demand for leather goods in Asia / Source: Bloomberg
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Union Properties PJSC agreed to sell the Ritz-Carlton hotel development in Dubai for less than the asking price of 1.5 billion dirhams ($410 million), Chairman Khalid bin Kalban said / Source: Bloomberg
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Retailer to expand out of town during 2011. Debenhams is preparing to expand its out-of-town presence in larger 60,000 sq ft stores and has rehired former acquisitions manager Robert Hadfield to spearhead the push / Source: Bloomberg
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Evans Randall has acquired the newly completed Drapers Gardens development in the City of London for £242.5 mln (EUR 296 mln). The vendor is a joint venture including Canary Wharf Group and a subsidiary of the Morgan Stanley Real Estate Funds / Source: PropertyEU
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Accor SA rose the most in 3 1/2 months in Paris trading as Europe’s largest hotelier forecast 65 percent growth in full-year operating profit, helped by sales gains at its higher-priced lodgings / Source: Bloomberg
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A New York City Council committee approved Vornado Realty Trust’s plans for a 1,200-foot (366- meter) Manhattan skyscraper that’s opposed by the owners of the nearby Empire State Building / Source: Bloomberg
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Carrefour SA, the world’s second- largest retailer, opened two pilot Planet Carrefour superstores in France today as it aims to revive the format and spur sales in western Europe / Source: Bloomberg
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Dubai World, the state-owned holding company seeking to alter the terms on $14.4 billion of bank debt, may raise as much as $19.4 billion in eight years by selling assets, a person with knowledge of the matter said / Source: Bloomberg
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McDonald’s Corp.’s yuan bond sale, the first by a foreign company in Hong Kong, may pave the way for a new global debt market as China seeks to capitalize on its status as the engine of the world’s economic recovery / Source: Bloomberg
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U.S. commercial real estate prices fell the most in almost a year in June as the economic recovery showed signs of faltering, Moody’s Investors Service said / Source: Bloomberg
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A joint venture of Crédit Agricole Assurances' Predica unit and Foncière des Murs (FdM) has signed an agreement with French hotel operator Accor group to acquire a portfolio of 48 hotels spread across France, Belgium and Germany / Source: PropertyEU
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Jones Lang LaSalle said on Friday that it has appointed Evgeny Nadorshin to the position of associate director and head of research in its Moscow office / Source: PropertyEU
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UK pub operator Mitchells & Butlers announced plans on Friday to sell a portfolio consisting of 333 non-strategic pubs for a cash consideration of £373 mln (EUR 456 mln) to Stonegate Pub Company / Source: PropertyEU
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Tower 42, the tallest completed building in London’s main financial district, was taken off the market by its owners, who cited rising rents in the area / Source: Bloomberg
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German real estate lender Eurohypo saw its pre-tax loss narrow to EUR 215 mln in the first half of 2010, largely reflecting revenue growth and reduced costs. The figure compares to a pre-tax loss of EUR 515 mln for the same period in 2009 / Source: PropertyEU
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