Realcomm Announces Inaugural Conference in UK for Real Estate Technology

Realcomm Conference Group, LLC, a global leader in providing education, information and networking opportunities to the Commercial Real Estate industry, launches its inaugural conference, Realcomm Europe 2008 on 18-19 February, 2008 at the Renaissance Chancery Court London. This two-day event will bring together the real estate technology industry and the European business community to discuss global best practices and the use of technology in the industry.

UK property sector consolidation expected

A banker with knowledge of the real estate industry said that, having fallen hard, many UK property companies now looked good value and were attracting a great deal of interest. “There are people running serious numbers on serious players,” he said, predicting strategic deals motivated by the correction in underlying physical real estate values. A second banker agreed that suitors were likely actively considering property deals because of the seemingly cheap stock.

London the world's most expensive city for prime real estate

London's most expensive new-built home was sold for 50 million pounds last month to Hourieh Peramaa, a 75-year-old real estate entrepreneur from Kazakhstan, the Sunday Times reported on Jan. 27.

The house on Bishops Avenue in Hampstead, northwest London, has nine main bedrooms, 16 bathrooms and five reception rooms and was acquired from Turkish businessman Halis Toprak. Peramaa plans to spend another 30 million pounds extending and redecorating the property, the newspaper said.

Qatari Diar buys key London site

A consortium led by state-owned Qatari Diar Real Estate Investment has purchased the Chelsea Barracks in London for $1.91 billion, the consortium announced n Thursday. Britain's Defense Ministry closed the sale of Chelsea Barracks, former home of the Public Duties and State Ceremonial personnel and a prime development property in Westminster.

Qatari Diar holds a majority in the consortium with its partner Christian Candy. Qatari Diar is owned by the Qatar Investment Authority.