Residents claim collapsed condo workers abandoned, developers deny
The Protect Taman Desa Coalition claimed that migrant workers have been abandoned without care at the site of a condominium project which partially collapsed last week.However, the project's developer has denied this.The media coordinator for the coalition, M Gunasekar, claimed that the workers at The Address were not receiving food, medical care or their wages."A big number of foreign workers were seen inside the site, without proper food and medical attention."The foreign maid of a nearby condo resident, who is in contact with the workers, said there are a number of workers stuck inside the ...
Dubai developer losses is telling on stocks
Dubai: With some of Dubai’s leading listed developers taking losses in 2019, concerns are cropping up over how this decade will shape up for them. And this has analysts wondering what all of this could mean for the stocks.With the majority of real estate firms having already reported, Damac and Union Properties slipped into losses, while Deyaar reported Dh1.5 billion in accumulated losses. Developers are now having to make do with fewer-than-usual projects amid a protracted downturn in an oversupplied space.Heavyweight Emaar Properties too felt the investor heat after recording flat year-on-ye...
How developers can put money in health facilities
Commercial real estate developments in the city are facing an interesting time. No doubt as one of the painful monthly expenditures, rental fees are amongst the closely evaluated costs for individuals, families and businesses. The state of the economy is currently deemed tough by many, judging by various economic confidence surveys, performance of business and cash flows particularly for startups.The trickle-down effect is that consumers are spending less and demanding discounts in their purchases. For most business owners, retaining clients and cutting down operational costs is vital to stay ...
Comelec eyes mobile app for voting
The Commission on Elections (Comelec) is studying the possibility of developing a mobile application that will allow people to cast their votes online.Comelec Commissioner Rowena Guanzon said on Twitter that four developers have offered to test their apps for use in the Philippines but that would require a new law.She also urged the public to send in their comments on the proposal to e-mail address: [email protected]
Philippines Daily Inquirer
Who is to blame for collapsing buildings?
As the city population continues to swell, the need for additional housing space becomes more pertinent. In the expansive city suburbs, developers are competing to erect high-rise buildings to respond to the housing deficit.In pursuit of provision of better housing and working spaces, developers are flouting critical construction procedures and hastily erecting buildings, several of which have collapsed before completion, leaving many people dead and others injured.At least three high-rise buildings have collapsed in the city since October last year. They include those in Bakuli, Kansanga and ...
Google launches Developer Space in Lagos
Google will launch a ‘Developer Space’ in Lagos that will allow developers, entrepreneurs and community groups to train, network, and grow their expertise.Google CEO, Sundar Pichai had in July, 2017 made a commitment to African entrepreneurs to start the Launchpad Accelerator Africa program, which committed $3 million in equity-free funding to take up to 60 African start-ups through the Accelerator in three years.In line with this commitment, Google is launching the Developer Space in Lagos tomorrow where entrepreneurs, developers, VCs and investors can connect and collaborate with each other.
New transit lines ready for condo hype
Locations near three new mass transit lines — Orange, Pink and Yellow — are the top five hotspots for new condo supply being launched in 2020, with large developers dominating the market.Phattarachai Taweewong, associate director of property consultant Colliers International Thailand’s research department, said these locations have attracted condo developers because land prices are lower than those in inner-city areas.“Amid unfavourable sentiment and a lot of unsold condo units available in the market, developers want to seek locations in the outer city to offer more affordable condos,” he sai...
The Bangkok Post
In Dubai, developers turn mortgage providers
Dubai: Banks in the UAE are just not offering enough mortgages to support home ownership - and even when they do the monthly payment requirements can prove quite a burden. The only option is for developers to directly offer home financing, according to Pantheon Developers.“Banks clearly do not want to disperse 70 per cent of the property’s value, and that’s causing a big tug of war between them and property buyers on the ratio of equity,” said Kalpesh Kinariwala, Chairman. “There are so many hurdles to clear before the funds are released - and it starts at the property valuation itself. Buyers...
Celebrating Asia’s best developers
Celebrating Asia’s best developersTHE PEPPER MILL –Pepper Teehankee(The Philippine Star) – January 17, 2020 – 12:00amAsia’s best real estate developers and professionals gathered for one night in Bangkok, Thailand for the prestigious Dot Property Southeast Asia Awards.Now on its fourth year, the awards, a part of the Dot Property Award Series, recognize the most outstanding industry professionals from the Philippines, Vietnam, Thailand, Malaysia, Indonesia and Singapore.Grand Land president Ryan Go and Dot Property commercial director James Claassen.Top officials from the region’s biggest real...
Spooked by property tax increases, Chicago developers look to other cities
After years of luring corporate headquarters downtown, altering the city’s skyline and transforming once-fringe neighborhoods, some of Chicago’s best-known developers are taking a new approach for 2020 and beyond.They’re lining up real estate investments in other cities.A decade into a Chicago construction boom, some major players known for focusing heavily on their hometown are shopping for land to develop in places including Denver, Los Angeles, Miami, Nashville, Austin, Atlanta and Dallas.Chicago-based firms, including Vista Tower’s Magellan Development Group and Lincoln Yards’ Sterling Bay...