Saudi real estate shares tumble on decision to tax undeveloped land
The cabinet decision aims to push more land out into the market, where it can be developed, in order to address Saudi Arabia's shortage of affordable housing. In the long run this could spur the construction and real estate industries, as well as the overall economy. In the short term, however, some investors worry it may hurt listed companies with large land banks. Shares in major real estate ...
Tue, 24 Mar 2015 01:26:15 -0700
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Israel real estate investor Gazit-Globe posts Q4 loss
Gazit-Globe, Israel's largest real estate investment company, swung to a loss in the fourth quarter of 2014 due to losses from currency hedging transactions, it said on Tuesday. Gazit-Globe said it lost 217 million shekels ($55 million) in the last three months of last year, compared with net income of 224 million in the period a year earlier. During the October-December period, the shekel ...
Tue, 24 Mar 2015 02:54:22 -0700
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