Poly Real Estate Group’s FY 2009 NI rose by 57.19% YoY to CNY3.519 bn ($515 mn) on turnover of CNY22.99 bn, up 48.11% YoY. FY 2009 EPS rose by 51.4% YoY to CNY1.06 from CNY0.7 for FY 2008. The company said that its nationwide market share increased to 1.3%, a 0.3 percentage point increase over [...]
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[UPP UH] Union Properties :: willing to sell Ritz Carlton hotel for ~$408 mn
Union Properties, the highly leveraged Dubai real estate developer, said it may sell its luxury Ritz Carlton hotel at the Dubai International Financial Centre if offered around AED1.5 bn ($408 mn). At least three investors are reportedly interested in the property. The company, which is so indebted as to have eroded its equity cushion, also [...]
[EMAAR AB] Emaar Economic City :: to get $1.3 bn gov’t loan
Emaar Economic City, a Saudi developer affiliated with Dubai’s Emaar Properties [EMAAR UH] expects to receive a long-term loan from the Ministry of Finance of some SAR5 bn ($1.33 bn).
Emaar Economic City, established in 2006 in Saudi Arabia, is a consortium of global real estate major Emaar PJSC and a number of high profile Saudi [...]
[AKCL IN] Ackruti City :: Fiscal 3Q 2009 NI up 241.79% QoQ, 1,147% YoY
Ackruti City’s fiscal 3Q 2009 consolidated NI jumped 241.79% QoQ to INR734.5 mn from INR214.9 mn and up 1,147% YoY from INR58.9 mn. Consolidated net sales rose by 177% QoQ to INR2,193.7 mn from INR792 mn and by 352% YoY to INR485.9 mn.
EBIDTA increased by 103% QoQ to INR1,269.1 mn from INR624 mn and by [...]
[3333 HK] Evergrande :: issues $750 mn 13% high-yield notes
Evergrande Real Estate $750 mn 13% high-yield Reg-S 5-year note issue was priced at par on Friday morning, to yield 13%, a spread of 1,065.8 bps over Treasuries.
[600048] China Poly Real Estate :: Expects FY 2009 NI +50% YoY
China Poly Real Estate Group said its preliminary FY 2009 earnings estimate pointed to +50% YoY growth from FY 2008 NI of CNY2.2 bn ($322 mn), which implies FY 2009 NI of at least CNY3 bn.
[ERES QD] Ezdan Real Estate :: $687.2 mn project in Doha
Ezdan Real Estate, Qatar’s biggest developer by market value, revealed on Monday a deal to develop Doha’s $687.2 million Asia Towers project in association with Qatar General Insurance and Reinsurance Company and Al Sari Trading Company. The partnership agreement is expected to be signed on Wednesday. The 55-floor Asia Towers project is one of the [...]
[AFIL IT] Africa-Israel Investments :: following debt restructuring, to resume work on Russian projects
The AFI Development unit of Africa-Israel intends to resume work on Russian projects as economic gains momentum. Russian holdings are estimated to represent about half of Africa-Israel’s assets. A key project affected is the Mall of Russia in Moscow. Today AFI Development confirmed Russian media reports that it has reached a preliminary agreement with Moscow [...]