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News

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17 Nov 2009
The Board of Directors of the Biennale di Venezia appointed Kazuyo Sejima as Director

The Board of Directors of the Biennale di Venezia, chaired by Paolo Baratta, met today and appointed Kazuyo Sejima as Director of the Architecture Sector, with specific responsibility for curating the 12th International Architecture Exhibition to be held in Venice in the Giardini and Arsenale between 29th August and 21st November 2010. Kazuyo Sejima is the first woman to direct the Architecture Sector of the Biennale / Source: ?????????.??
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16 Nov 2009
HSBC confirms £772m sale of Canary tower to Korean fund

HSBC Bank has confirmed today it has agreed the sale of its tower at 8 Canada Square to the National Pension Service of Korea (NPS) for £772.5m / Source: Property Week
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16 Nov 2009
Sale of Halabi London offices planned

The £1bn ($1.7bn) portfolio of central London offices owned by the family trusts of tycoon Simon Halabi is being lined up for sale by the servicer and administrator of the securitised debt behind the properties / Source: Financial Times
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13 Nov 2009
Cushman back to black

Cushman & Wakefield returned to profit in the third quarter of 2009 / Source: Property Week
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13 Nov 2009
London rents set to jump 10-15% next year

A lack of new development in London will lead to a jump in prime rents next year according to the latest London Crane Survey from Drivers Jonas / Source: Property Week
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12 Nov 2009
CBRE completes $300m equity raising

CB Richard Ellis has raised $300m from the completion of a sale of shares announced on November, 3 / Source: Property Week
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12 Nov 2009
Hilton to Expand in Saudi Arabia’s Mecca as Pilgrims Increase

Hilton Worldwide, acquired by Blackstone Group LP in 2007, plans to open more than one hotel in Mecca, the birthplace of Islam, as more religious pilgrimages spur demand for accommodation in Saudi Arabia / Source: Bloomberg
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11 Nov 2009
InterContinental Net Drops on Business-Travel Slump

InterContinental Hotels Group Plc, the U.K.-based owner of the Holiday Inn brand, said third- quarter profit dropped 25 percent as higher-profit business travel slowed in the recession / Source: Bloomberg
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11 Nov 2009
Bahrain office rents drop 20% in 2009

Office rents in Bahrain have declined by around 20 percent this year, CB Richard Ellis (CBRE) said on Monday / Source: Arabian Business
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10 Nov 2009
$175M Fetches Kimco Full Ownership in 21 Shopping Centers

Shopping center REIT, Kimco Realty Corporation (NYSE:KIM), has acquired an 85% interest in the 21 retail properties held under PL Retail Portfolio, its joint venture fund with DRA Advisors. The $175 million acquisition brings Kimco's ownership in the portfolio to 100% / Source: Costar
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10 Nov 2009
Borders Closing 200 Waldenbooks Stores in January

The country's second-largest brick and mortar book retailer, Borders Group, is closing 200 of its mall-based Waldenbooks stores in January. As a result, approximately 1,500 positions--the majority of which are part-time jobs--will be eliminated / Source: Costar
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09 Nov 2009
Blackstone Reports $275 Million Profit

Blackstone Group LP, the world’s largest private-equity company, reported a third-quarter profit of $275.3 million, helped by fees from selling assets and finding acquisition targets / Source: Bloomberg
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09 Nov 2009
Walmart Plans to Open 40 More Indian Wholesale Stores

Wal-Mart Stores Inc., the world’s largest retailer that has a wholesaling venture with India’s Bharti Group, plans to open 40 more “cash & carry” stores in the South Asian country. / Source: Bloomberg
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06 Nov 2009
German government gives extra ?3bn to Hypo Real Estate

Deutsche Pfandbriefbank, formerly Hypo Real Estate Bank, was today granted a further ?3bn from the German government / Source: Property Week
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06 Nov 2009
U.S. Shops and Apartments Head for Record Vacancies

Stores, apartment buildings and warehouses in the U.S. will set new vacancy records before a recovery takes hold in the job and commercial property markets, according to a forecast by CB Richard Ellis Group Inc / Source: Bloomberg
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05 Nov 2009
Woolworth Building Stake May Be Purchased By Italian Investor

The Woolworth Building, the neo- Gothic Manhattan skyscraper that was once the world’s tallest building and a symbol of American capitalism, may soon gain Italian owners / Source: Bloomberg
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05 Nov 2009
Metro Profit Falls 61% as Joblessness Erodes Spending

Metro AG, Germany’s largest retailer, said third-quarter profit declined 61 percent as rising joblessness eroded consumer spending across Europe, and forecast no improvement for the rest of the year / Source: Bloomberg
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03 Nov 2009
Emaar Falls to Month-Low on Dubai Properties Arrest

Emaar Properties PJSC tumbled the most since mid-August as the chairman of Dubai Properties, a company the United Arab Emirates’ biggest real-estate developer plans to merge with, was arrested / Source: Bloomberg
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03 Nov 2009
M&S gets green light for second largest store in UK

Marks & Spencer has got the go-ahead for a £60m store in the north-west, its largest investment outside London in the past decade  / Source: Property Week
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02 Nov 2009
Soros Says ‘Bloodletting’ Yet to Come for LBOs

Billionaire investor George Soros said a “bloodletting” may be coming for leveraged buyouts and commercial real estate amid the worst slowdown in 70 years / Source: Bloomberg
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