Sammakorn Nakornln project offers moderncontemporary experience

The project, designed in moderncontemporary style, has seven housing models. It is on offer for prices between Bt4.5 million a unit for a utilisation space of 157 square metres and Bt7.2 million for a utilisation space of 215 square metres. - The Nation

new deal

Shimao, InterContinental form business alliance

Shimao Property Holdings, a Chinese developer controlled by billionaire Xu Rongmao, signed management contracts with InterContinental Hotels Group for six hotels in four Chinese cities by 2013.

InterContinental will manage the Shimaobuilt hotels in Beijing, Shanghai, Fuzhou and Shaoxing with a total of 2,100 guest rooms, Shanghaibased Shimao said. The company has 16 hotels with 7,765 rooms under construction or planned, the statement said. - Bloomberg

housing crisis

Spain faces recession after construction boom

The average price of new and used houses and apartments, including gov¬ernmentadministered housing, declined 1.3 per cent from the previous quarter, the Housing Ministry said. The decline dwarfed the 0.1percent drop in the sec¬ond quarter. Prices rose 0.7 per cent from a year earlier.

The collapse of the housing boom, made worse as the global credit crisis increased borrowing costs, will leave about 930,000 new homes unsold on the market by the end of this year, valuation company Tasaciones Inmobiliarias said.