News

New Development Projects Drive Lend Lease Profits Up 39 percent

Lend Lease, the largest property building firm in Australia has recorded a high profit of 39 percent at the end of December 2012. The notable profit seems to source from two prominent development projects that the company has taken on - The Barangaroo South Development Project in Sydney and a redevelopment project in London.

Lebanon Island on Dubai’s ‘The World’ Sold for $9.5 Million

Lebanon Island – a part of the man-made archipelago – The World, Dubai has sold for a good $9.5 million to a consortium of investors. It was purchased in 2008 for around $16.3 million by Wakeel Admed Azmi, an Indian entrepreneur. However, he sold it at a loss of $6.8 million.

Philadelphia Homeowners See Tax Hikes After City's Reassessment

More than half a million properties in Philadelphia faced a new real estate assessment on Friday, reported The Philadelphia Inquirer. As a result, many property owners are facing higher tax rates.