Property group Stockland's first-half net profit has fallen by 28 per cent due to tough economic conditions, but the company expects a better performance in the remainder of the financial year.
Property developer Australand believes it can improve earnings despite suffering a 15 per cent drop in annual profit.
Australand said its net profit dropped to $140.6 million for the year to December 31, 2011 amid weaker property markets in Queensland and Western Australia.
The owner of Perth’s Novotel Langley is looking to cash in on increasing demand for hotels in Western Australia, putting the 253-room hotel to market.
Jones Lang LaSalle Hotels will exclusively market the property on behalf of its owner, Tourism Asset Holdings Ltd.
AUSTRALASIAN Property Investments and Automotive Holdings Group say they have created a new class of investment property with the establishment of a $66 million property syndicate involving five car dealerships in Perth and Sydney.
Service and logistics companies looking to muscle in on Western Australia’s multi-billion dollar oil and gas sector are driving strong demand for industrial space in Perth.
Perth company NLV Group, best known for its National Lifestyle Villages, has added a fourth division to its business with the acquisition of Velocity Villages.
The Real Estate Institute of Western Australia has appointed Neville Pozzi as incoming chief executive.
Mr Pozzi, who has been with the institute for thirty four years, will replace outgoing chief executive, Anne Arnold, when she steps down from the role in July after eight years.
Automotive Holdings Group has announced a partnership with Australasian Property Investments to launch a $66 million unlisted property trust.
The trust involves five car dealer sites located in Perth and Sydney, AHG managing director Bronte Howson said.
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