Real estate giant IREO to invest $500 mn in India

October 9th, 2009 Investors Real Estate Trust stock sale nets $62.6MMINOT, N.D. — Investors Real Estate Trust said it expects $62.6 million in net proceeds from a follow-on offering that closed Friday.

September 16th, 2009 Fed tightens review of commercial real-estate riskWASHINGTON — The Federal Reserve is stepping up its scrutiny of commercial real-estate lending at smaller banks, according to a Fed official. Instead of reviewing only individual banks, Fed examiners also are comparing results across the industry to better assess broader risks, the official says.

September 15th, 2009 IRS issues rules to ease mortgage refinancingWASHINGTON — The IRS issued new rules Tuesday designed to make it easier to refinance some commercial real estate loans in an effort to curb the number of defaults. The rules would allow commercial loans that are part of investment pools known as Real Estate Mortgage Investment Conduits, or REMICs, to be refinanced without triggering tax penalties for investors.

September 9th, 2009 MUMBAI - Realty firm Entertainment World Developers will invest Rs.2,000 crore for setting up 20 malls across India under its rent-free revenue sharing concept for emerging brands. "We will invest Rs.2,000 crore for setting up 20 malls spread across one million square feet in 11 states and 20 cities by 2011," said company chairman and managing director Manish Kalani.

August 24th, 2009 Indo-ASIAN NEWS SERVICE CHENNAI - Life Insurance Corp of India (LIC) and its associates will hold a majority stake in the real estate venture capital fund to be floated by LIC Housing Finance Ltd, says a top company official. "The majority stake will be with the LIC group.

August 12th, 2009 Starwood Property Trust shares dip in debut tradeNEW YORK — Shares of hotel magnate Barry Sternlicht's Starwood Property Trust Inc. initially declined on their first day of trading Wednesday before closing unchanged, even as the broader markets edged up after the Federal Reserve left a key interest rate at a record low.

August 4th, 2009 NEW DELHI - To bring transparency in the realty sector, Associated Chambers of Commerce and Industry of India (Assocham) has suggested that it be made mandatory for real estate developers to open escrow accounts. Escrow accounts offer a safe avenue to buyers of property since payments for purchase of an apartment or similar real estate are deposited in them and paid to the developer only after the project is complete and the possession handed over.

July 9th, 2009 Fed focused on commercial loansWASHINGTON — A Federal Reserve official says the central bank is paying extra attention to banks' books as losses from sour commercial real estate loans keep mounting. Jon D. Greenlee, associate director of the Fed's division of banking supervision, says in remarks prepared for a Congressional hearing Thursday that the central bank has stepped up training of its bank examiners so they are ready to deal with rising losses from the commercial real estate industry.

June 22nd, 2009 Hypo Real Estate warns of hefty 2Q burdensBERLIN — Hypo Real Estate Holding AG, the troubled lender in which the German government has taken a majority stake, said Monday that risk provisions will again lead to a "significant" burden on earnings in the second quarter. Munich-based Hypo Real Estate said in a statement that it "anticipates significant burdens on income for the second quarter ...

June 16th, 2009 Commercial real-estate loans draw no interestWASHINGTON — Investors showed no appetite for a government plan intended to boost the availability of commercial real-estate loans. The Federal Reserve Bank of New York says it received no investor requests for loans by Tuesday's deadline.

June 10th, 2009 NEW YORK - Sulabh International, an Indian organisation popular for introducing low-cost toilet technology, has been selected for this year's prestigious Renewable Energy award. The Intergovernmental Renewable Energy Organisation (IREO) will present the award to Sulabh founder, Dr.Bindeshwar Pathak, at the United Nations headquarters here Thursday.

January 22nd, 2009 NEW DELHI - The government will soon come up with a model regulatory act for the real estate sector, Minister of State for Poverty Alleviation and Affordable Housing Kumari Selja said here Friday. 'We will soon come up with a model regulatory act for states to follow.

January 18th, 2009 NEW DELHI - British telecom giant Vodafone Monday said it will continue to invest heavily in India. 'We see an addition of eight to nine million mobile subscribers here.

January 14th, 2009 AHMEDABAD - Global software giant Microsoft will invest in training teachers in Gujarat and enhance the use of IT in the education sector. Microsoft India Pvt Ltd signed a memorandum of understanding (MoU) with the Gujarat government at the Vibrant Gujarat Global Investors' Summit this week.

January 11th, 2009 NEW DELHI - Singapore-based Universal Success Enterprises Ltd (USEL) Monday said it has signed three agreements with the Gujarat government and will invest about Rs.87,000 crore (Rs.870 billion) in various infrastructure projects. USEL, a diversified group in the field of infrastructure development, real estate, energy trading, hospitality and manufacturing, has identified thermal power generation, seaports, and mixed-use industrial and urban development as focus areas in West Bengal, Gujarat and Maharashtra.