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...Its lawsuit claims £3.5mn in damages and interest from the FTSE 250 developer, which is in the middle of a multibillion-pound merger with larger rival Barratt that would cement the combined group’s position...
...Big developers such as Taylor Wimpey and Persimmon have said they do not expect their output to begin to recover before 2025....
...The petition, issued by China Construction Bank in Hong Kong’s High Court on Friday, is related to an “approximately HK$1,579.5 million [$201.7mn]” financial obligation, Shimao Group said....
...So far, Beijing has emphasised the need to complete construction projects but stopped short of unveiling any official measures to help developers in difficulty....
...Developer Nu-Scale cancelled what would have been the first SMR in the US last year after not enough buyers signed up for its power. Construction costs had risen sharply the previous year....
...Apple said it had clear guidelines to help developers understand its rules, which are applied equally....
...With construction in effect mothballed as developers run out of cash, many buyers, who paid for their new flats in advance, are still waiting to move into their homes....
...Matthew Pointon, senior property economist at the research company Capital Economics, said commercial construction had “been contracting since September last year as developers wait for the outlook to stabilise...
...That can no longer be taken for granted with state-owned China Construction Bank (CCB) taking rare legal action against the troubled mainland developer Shimao Group....
...It now has 7.6GW of offshore wind under construction, its highest ever. Overall, Ørsted reported quarterly revenues of DKr19.2bn and a pre-tax profit of DKr4.4bn....
...The improvement has come despite setbacks for developers in the planning system....
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...It is far from the only property developer betting on this sector....
...China’s property sector, which typically accounts for more than a quarter of economic activity, has struggled for more than two years with construction delays and developer funding woes after a government...
...At the 41-storey Cheung Kong Centre II, under construction a block away, agents say occupancy rates were stuck at about 10 per cent in March as negotiations with potential tenants dragged on....
...It could also be you in Manor Lords, a medieval simulation and strategy game from Polish developer Slavic Magic....
...But this model has been shaken by construction delays at failed groups such as Evergrande, leading homebuyers to question whether they will ever receive their properties and discouraging new land purchases...
...The trend was confirmed by new purchasing managers’ index data yesterday showing construction sector optimism at a two-year high....
...The struggles of both companies, once seen as among the most trusted real estate developers in China, highlights the impact of a two-and-a-half-year cash crunch that has weighed on construction and the wider...
...The London-focused FTSE 100 developer said sales of new homes were roughly a third lower than last year over the six months to the end of October....
...A version of this article was first published by Nikkei Asia on May 1. ©2024 Nikkei Inc. All rights reserved....
...Today, our tech expert explains why app developers think the EU’s first ever fine of Apple won’t be nearly enough....
...Teesworks Ltd, which is 90 per cent owned by local developers and 10 per cent by the STDC, said it welcomed the judgment....
...Bishop said Apple was already enforcing the filing requirement for Chinese developer accounts, and was required to do so for international services....
...Earlier this year, Khan came under fire after the US developer behind a Las Vegas-style Sphere in London’s former Olympic Park withdrew its plans following the mayor’s decision to block the music venue....
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