‘HBF’s Services Offer Numerous Benefits to Property Investors, Portfolio Builders and BusinessesBIRKENHEAD, England - - Complete ‘Armchair Investment’ Package Offered Property investors, portfolio builders and businesses looking for access to repossessed stock, tenanted properties and Sale and Rent Back purchases would be wise to turn to HBF Investments. Fannie Mae Reports Second-Quarter 2009 ResultsWASHINGTON - Fannie Mae (NYSE: FNM) today reported its second-quarter 2009 results and filed its quarterly report on Form 10-Q with the Securities and Exchange Commission. The filing provides consolidated financial statements for the second quarter of 2009. The following documents are now available on Fannie Mae’s Web site: ‘Golf on Your Doorstep’ST PETER PORT, Guernsey - - Fractional Home Owning Initiative Launched The dream of hundreds of golfers who yearn for a property on one of the Costa del Sol’s fabulous courses is about to be delivered. Orrick Signs Lease for New London OfficeLONDON - International law firm Orrick, Herrington & Sutcliffe LLP has signed a lease to move its London headquarters to the new Menolly development at 107 Cheapside. The lease is for 44,500 sq ft of space at the new 185,000 sq ft development. Orrick has also taken an option over a further 20,000 sq ft and plans to occupy the new office by the end of 2009. Shikun & Binui to Distribute NIS 100 Million Dividend; Convening General Meeting to Approve DistributionRAMAT GAN, Israel - Shikun & Binui Ltd. (TASE: SKBN.TA) (”Shikun & Binui” or the “Company”), a member of the Arison Group and Israel’s leading infrastructure and real estate company, has announced that on July 27, 2009 the Company’s Board of Directors resolved to recommend the distribution of a cash dividend to the amount of NIS 100 million (”Dividend”). This represents NIS 0.249 dividend per share of NIS 1 par value, based on the Company’s outstanding share capital on the date of the Board of Directors’ decision. Berlin Capital Investments, the International Branch of Zabel Immobilien KG, Have Been Awarded Two of the Most Important Awards of the Real Estate BusinessBERLIN - - “European Property Award” for Best Real Estate Office and Best Real Estate Agent Website Goes to Berlin Capital Investments; DLF Announces Q1 FY10 ResultsNEW DELHI, India - - Revenue at Rs 1,746 cr, Net Profit at Rs 396 cr Editors Synopsis: Financial Highlights - Q1 FY10 (all comparisons with Q4 FY09) - Consolidated Revenue at Rs 1,746 crore, up by 29% from Rs 1,351 crore - EBIDTA at Rs 840 crore, up by 119% from Rs 384 crore - Consolidated PAT at Rs 396 crore, up by 149% from Rs 159 crore - EPS for the quarter at Rs 2.33 - Dividend of Rs 2 per share announced for FY09 Q1 FY10 (all comparisons with Q1 FY09) - Consolidated Revenue at Rs 1,746 crore, down by 55% from Rs 3,846 crore - EBIDTA at Rs 840 crore, down by 65% from Rs 2,380 crore - Consolidated PAT at Rs 396 crore, down by 79% from Rs 1,864 crore Balance Sheet - Focus on de-leveraging: Net Debt down by over Rs 2,000 crore - Received Rs 500 crore through sale of non-core assets; expect another Rs 5,000 crore during the current fiscal - Gearing at around 0.5, down from 0.6 as on March 31, 2009; target to reduce gearing to 0.3 by March 2010 Highlights - Q1 FY10 Industry - Real estate segment witnessing renewed activity - Aggressive reduction in prices has led to increased affordability - Most of the affordable housing projects garnered good response from customers - returning stability of housing market in India - As the economy improves, the pace of growth is expected to gather momentum - In the commercial segment, the level of enquiries has shown significant improvement, and as the economy improves, these are bound to convert into actual pre-leases Business - Total developable area at 423 msf, down from 425 msf mainly due to sale of projects and land - 42 msf of projects area under construction at the end of the quarter - Commenced construction on approx. 8 msf comprising homes (New Gurgaon) and commercial complexes (Okhla, New Delhi and Kolkata) during the quarter - Launched DLF Capital Greens, New Delhi - Part of the medium term strategy to launch city centric projects which have better margins than suburban premium homes - Excellent response to DLF Capital Greens - sold approx. 2msf in Phase I of the project in one day - Booked 0.50 msf of homes in Bangalore during the quarter - Handed over approx 1 msf of office (Gurgaon) and commercial complexes space (Delhi) - De-notification received from BoA for five SEZs - SIEL (Delhi), Bhubaneshwar, Sonepat, Gandhinagar and Kolkata - Sale of non-core assets and de-leveraging plan progressing as planned - All repayment commitments made in time DLF Assets Limited - Received Rs 2,500 crore in the quarter, exceeding the target of Rs 2,000 crore - Expect another Rs 500 crore during the fiscal - Receivables from DAL now stand at Rs 2,600 crore as compared to Rs 4,906 crore as on Mar 31, 2009 Outlook - Company getting reorganized with clear focus across two business segments - development (sales and commercial complexes) and annuity (offices and retail malls) - Portfolio adjustment towards liquidity preservation and de-leveraging - Continue to look at unlocking value from non-strategic assets as well as long gestation / marginal projects - Continue to test the market for mid-income housing across newer locations - Plans to launch strategic “city centric” housing projects and also progress with luxury segment - Selective launch of new commercial complexes by testing new markets - To commence construction at SBM, New Delhi in the next quarter - Further recovery action and due diligence for sale of non-core assets in progress Fannie Mae Releases June 2009 Monthly SummaryWASHINGTON - Fannie Mae’s (NYSE: FNM) June 2009 Monthly Summary is now available at www.fanniemae.com/ir/monthly. The monthly summary report contains information about Fannie Mae’s monthly and year-to-date activities for our gross mortgage portfolio, mortgage-backed securities and other guarantees, interest rate risk measures, and serious delinquency rates. TimberWest Announces Intention to Sell Approximately 46,500 Acres of Select Timberland Assets on Vancouver IslandVANCOUVER, Canada - TimberWest Forest Corp. (”TimberWest”) announced today that it intends to divest up to four discrete timberland properties located on Vancouver Island in the Province of British Columbia, Canada. These timberland assets include the Beauforts, China Creek, Parksville and Trent properties, which comprise a total area of approximately 46,487 acres (or 18,813 hectares) and have a combined timber inventory of over 4.0 million cubic meters. These four properties represent small, isolated parcels of timberlands, most of which are not contiguous with TimberWest’s core timberland operations in either the north or the south of Vancouver Island. Rental Report Shows Scottish Rents Sliding - But it’s not all Bad NewsEDINBURGH - According to the latest rental report from Scotland’s leading online letting portal Citylets, people renting property are benefitting most from the beleaguered housing market, with a wide choice of properties available and rents continuing to fall across the country. Rafael Nadal Buys a Home in Playa Nueva RomanaMAJORCA, Spain - Rafael Nadal, recently ranked as the world’s number one in men’s tennis, has purchased a home in the residential complex of Playa Nueva Romana, in the Dominican Republic, promoted by Bahia Principe. Martin & Co Weymouth House Canadian Olympic Sailing TeamBOURNEMOUTH, England - - First Foreign Olympic Monies Into UK The Weymouth office of the UK’s largest dedicated letting agency, Martin & Co is among the first businesses to directly benefit from foreign revenues as a direct result of the Olympics - some three years before the event itself! Emerging Real Estate Offers Thalassa Beach: A Fully Recognised Luxury Development in Northern CyprusMANCHESTER, England - UK home buyers and investors looking for an affordable property with strong long term potential need look no further than the Thalassa Beach Resort on the Karpas Peninsula in North Cyprus. With its undisputed and internationally recognised land title, this development is a fantastic opportunity to buy in one of the Mediterranean’s most stunning beachfront locations. Prices start from just GBP59,950. Noront Resources Announces Windfall Lake Acquisition Option AgreementTORONTO - Symbol: NOT:TSX-V Shares Outstanding: 154,578,457 Fully Diluted: 164,098,457 New Name and New Services for SitexOrbis at CIH 2009, HarrogateLONDON - It is a new name and new services for leading empty property management provider SitexOrbis this year on stand C166 at the Chartered Institute of Housing Annual Exhibition at Harrogate. As the market leader in void property security and empty property services, SitexOrbis is committed to delivering innovative new services. Innovation and market leading customer satisfaction assures our position as the number one empty property management service. Acqua Building Gives Room for a Safe InvestmentPUNTA DEL ESTE, Uruguay - Punta del Este is the beating heart of Uruguay, renowned for being the most exclusive beach-resort in Latin America and a meeting place for international jetsetters. Punta also holds the distinction of being the country’s most attractive place for real estate investment. With an unprecedented residential offering that exceeds the highest living standards, the recently completed 34-unit Acqua Building has strengthened this rising market and taken it to a higher level. Leading Developer Selects Energy-Efficient Otis Products for Projects Across ChinaFARMINGTON, Connecticut - Otis Elevator Company’s joint venture Xizi Otis has secured a new contract from Longfor Properties, a leading real estate developer in China. Xizi Otis will deliver and install 442 elevators and 10 escalators for residential and commercial projects in four cities. The order, which includes energy-saving Gen2(R) elevators with ReGen(TM) drives, is the second awarded by Longfor Properties to Xizi Otis, the largest of Otis’ 10 joint ventures in China. Otis is a unit of United Technologies Corporation (NYSE: UTX). ECE Braves the Crisis: Financing for 300-Million-Euro Project in Dortmund is SealedDORTMUND and HAMBURG, Germany - Picture is available via EPA (European Pressphoto Agency) and can be downloaded free of charge at: www.presseportal.de/pm/64793/?live Beeyoot.Com Connects Property Sellers and Buyers DirectlyDUBAI, UAE - Unlike its predecessors Beeyoot.com (www.beeyoot.com/index.jsp) allows property owners to sell directly to buyers. Facilitating a Global Land Use Information Exchange: Jeremy Newsum is New Chairman of the Urban Land InstituteWASHINGTON - Jeremy Newsum, Executive Trustee of the Grosvenor Estate, is the new Chairman of the Urban Land Institute (ULI), a global non-profit research and education institute dedicated to responsible land use. As ULI Chairman, Newsum will serve on a voluntary basis for a two-year term that ends on June 30, 2011. Liverpool Tops League Table for Most Profitable Area (Outside London) to let a Parking SpaceLONDON - Property owners in Liverpool could rent out their driveway, garage or allocated parking bay for as much as GBP1,476 per year (or GBP123 a month) according to a new 2009 league table of parking space rental. The statistics produced by Park Let, the UK’s largest parking space letting agent, show that Nottingham and Manchester are also particularly profitable areas with parking spaces earning GBP115 and GBP109 per month respectively. Colliers Arranges Central & Eastern Europe’s Largest Real Estate Transaction of 2009WARSAW, Poland - - Sells Office Building in Warsaw, Poland for euro 117 Million Colliers International has arranged Central & Eastern Europe’s largest commercial real estate transaction to-date in 2009 — the sale of the Deloitte House for euro 117 million. The newly constructed, 21,000-square-meter, Class A office building — located in the central business district of Warsaw, Poland — is also the city’s first certified green building. The property officially opened this month. Fannie Mae Releases May 2009 Monthly SummaryWASHINGTON - Fannie Mae’s (NYSE: FNM) May 2009 Monthly Summary is now available at www.fanniemae.com/ir/monthly. The monthly summary report contains information about Fannie Mae’s monthly and year-to-date activities for our gross mortgage portfolio, mortgage-backed securities and other guarantees, interest rate risk measures, and serious delinquency rates. Barden Gale Joins J.E. Robert Companies as Chief Executive OfficerMCLEAN, Virginia - - J.E. Robert Companies Appoints First New CEO In 28 Years J.E. Robert Companies (JER), a global commercial real estate investment management company, announced today that Barden Gale joined the firm as Chief Executive Officer. Mr. Gale joins JER from Starwood Capital Group (Starwood), where he served as Vice Chairman of Real Estate. Capgemini Signs Turn-Key Datacentre(SM) Lease Agreement With Digital Realty TrustDUBLIN and PARIS - Digital Realty Trust, Inc. (NYSE: DLR), the world’s largest wholesale datacentre provider, has completed a Turn-Key Datacentre(SM) lease agreement with Capgemini (www.capgemini.com), one of the world’s foremost providers of consulting, technology and outsourcing services. Under this agreement, Capgemini will establish a new datacentre in a Digital Realty Trust property in France during the summer to support the growth of its datacentre infrastructure. HBFinvestors.com High-Yielding Discount Properties Attract Savvy InvestorsBIRKENHEAD, England - Forget doom and gloom - savvy property investors are making the most of the current economic situation and investing in discounted bricks and mortar. Fannie Mae Forgoes Announcement of Benchmark Notes(R) Issuance on June 25, 2009WASHINGTON - Fannie Mae (NYSE: FNM) today reported that it will not announce issuance of Benchmark Notes on June 25, 2009, the second of two scheduled announcement dates in June. As noted in our 2009 Benchmark Securities Issuance Calendar, the company may forego any scheduled Benchmark Notes issuance. Garbe Group and CB Equity Partners Announce Creation of a New Real Estate Investment FundLONDON - Garbe Group, an international real estate company with head offices in Hamburg, and CB Equity Partners, a corporate finance firm with offices in London, Hamburg and Munich, announce today the creation of a new real estate investment fund. More Britons Looking for Property AbroadLONDON - Searches for international property on Primelocation.com show that the British are still interested in buying abroad despite the economic slowdown. Lack of Supply Causes London Property Prices to StabiliseLONDON - Asking prices in London registered a modest increase of 0.27% in May, according to Primelocation.coms monthly house price index. Aareal Award of Excellence 2010 has CommencedWIESBADEN, Germany - EBS Real Estate Management Institute and Aareal Bank Again Offer the Research Prize for Scholarly Work in Real Estate Economics Great Design Projects Have Real Economic ValuePOOLE, England - The historic English seaside town of Weymouth has been scuppered by SWRDA, (Design Week 24) Weymouth has been lead up the garden path. Encouraged to apply for government funding to regenerate its seafront and then to be refused at the eleventh hour. The opportunity to create a magnificent urban regeneration spectacular to be ready when the world spotlight shines on Weymouth at the Sailing Olympics has been thrown away. Zeta is a digital agency that started out in Weymouth. Tracking Success - The Co-operative Bank 3 Year Tracker Leads to 75% Uplift in Mortgage SalesMANCHESTER - Following the recent launch of a new market leading 3 year tracker mortgage, (2.39%* 27.05.09)The Co-operative Bank is reminding customers looking to make the most of low interest rates, to act now if they want to take advantage of some of the lowest rates available. Eurocastle 2009 AGM ResultsST PETER PORT, Guernsey - Eurocastle Investment Limited (Frankfurt Stock Exchange: EUI1 and Euronext Amsterdam: ECT) announces the results of its 2009 Annual General Meeting held yesterday, 15 June 2009. All resolutions tabled before the meeting in accordance with the Notice of Annual General Meeting circulated to shareholders on 13 May 2009 were carried. A copy of this Notice is available on Eurocastle’s website at www.eurocastleinv.com. Report Reveals 81% Non-Compliance With Energy Regulations in UK Commercial Property MarketMILTON KEYNES, England - Even the greenest of businesses are unlikely to be able to make informed choices about the energy efficiency of the premises they buy or rent right now, according to new research published today by National Energy Services (NES). |
