AMP Capital

AMP shares have hit a new all-time low after the beleaguered wealth manager flagged it would not pay a first-half dividend in anticipation that the $3.3 billion sale of its wealth protection business has failed.

Subdued retail conditions in WA have resulted in more than $2.5 billion of shopping centre expansions to be deferred or have no timetable for development.

Global fashion retailer H&M is opening its second north-of-the-river store, taking a key tenancy at the revamped Karrinyup Shopping Centre, which is undergoing an $800 million refurbishment.

Facilitating the biggest construction project outside of WA’s resources sector has been a complex undertaking for Rowe Group subsidiary Proven Project Management.

Australian bond yields suffered their biggest one day fall in more than three years, hitting fresh all-time lows as investors flocked to them on US President Donald Trump's threat to impose higher tariffs on China.

The median price of a house in Perth decreased by 0.5 per cent for August, recording the largest fall of all state capitals, according to the latest CoreLogic data.

ASX-listed investment fund Centuria will acquire Warrington Capital Partners’ William Square office building in Northbridge for $189.5 million, in the highest value commercial property transaction in Perth since December last year.

AMP Capital has secured tenants for four whole floors of 140 St Georges Terrace, which has pushed the vacancy rate at the office tower to below 1 per cent.

Garden City Booragoon will soon be rebranded as Westfield Booragoon, after Scentre Group acquired a half stake in the shopping mall from AMP Capital for $570 million.

A series of large-scale residential and commercial projects are expected to get under way in Perth this year with a development pipeline nearing $2 billion in value.

Japanese fashion retailer Uniqlo will open its third Western Australian store in July as part of the redeveloped Karrinyup Shopping Centre.

The Reserve Bank of Australia has chosen to keep interest rates unchanged today at 0.25 per cent, despite news of over 1 million job losses nationwide and a 48.5 per cent drop in car sales.

Property market analyst CoreLogic has reported that Perth’s housing values dropped again in July, with both CoreLogic and AMP Capital expecting prices to continue falling amid COVID uncertainty.

A corporate governance expert says boards across Australia need change following high-profile departures at AMP over a sexual harassment complaint.

Demand for new houses remained strong in August, particularly in Western Australia, following the relaxation of COVID-19 restrictions in most jurisdictions.

Reserve Bank officials have left the cash rate unchanged at a record low 0.25 per cent, allowing Treasurer Josh Frydenberg's federal budget to have the economic limelight.

The recent buoyancy of consumer confidence has yet to be reflected in retail spending, which is down 1.5 per cent in September.

Industry forecasts expect Perth’s housing market to continue to perform in 2021, anticipating price gains of close to 10 per cent.

Multinational retailer Zara and cosmetics chain Sephora are among the latest tenants announced as part of the $800 million Karrinyup Shopping Centre redevelopment.

Perth’s housing values increased in January, cementing the city's position as one of the country’s fastest growing property markets.

Primewest has announced it has formed a joint venture with a fund advised by BlackRock Real Assets to purchase 140 St Georges Terrace.

Blackburne Property group has appointed BGC to build its $75 million East Village project, located adjacent to the $800 million redevelopment of Karrinyup Shopping centre.

The first stage of the $800 million Karrinyup Shopping Centre redevelopment has reached completion, with the remaining upgrade works on track to finish this year.

An opening date has been set for the final stage of the $800 million Karrinyup Shopping Centre redevelopment, which will include a new dining and entertainment precinct.

Financial services giant AMP has posted a 28 per cent drop in first-half net profit after weaker performances at its main wealth management and AMP Capital businesses.

Retail property players are trying to keep pace with the structural shift in shopping habits accelerated by the pandemic.

The City of Stirling has pushed for AMP Capital’s $150 million Karrinyup apartment proposal to be refused, arguing the three towers constituted an overdevelopment of the site.

AMP Capital’s $150 million high-rise apartment complex has been given development approval.

The long-awaited redevelopment of Westfield Booragoon appears to be back on the agenda, after an application for a $500 million expansion of the centre was made public this afternoon.

Scentre Group has offered a first look at its $500 million expansion plan for Westfield Booragoon, with retail tenancies, outdoor dining and an entertainment precinct.

Dexus is set to acquire close to $31 billion of assets under management from AMP Capital, including all of its domestic real estate.

The developer is set to build a scaled back version of AMP-managed Karrinyup West apartments.

AMP Capital has signalled a further expansion of the $800 million Karrinyup Shopping Centre development by adding more luxury retailers, with groups including Louis Vuitton expressing interest.

Investors have voted for Mirvac to manage AMP Capital’s $7.7 billion office fund, increasing the property giant’s third-party funds under management by 76 per cent to $18.1 billion.

A redesign of the Karrinyup West apartments did little to sway Stirling councillors who stood firm in their opposition to the $390 million development.

Apartment developers are facing increasing costs amid tightening margins and constrained supply.

The $390 million Karrinyup West development has been given the green light by a state government's assessment panel after a five-hour meeting today.

Sydney-based GPT Group is set to manage AMP’s Karrinyup Shopping Centre, as the management of the group's retail assets changes hands.

Estimated costs for Scentre Group’s updated proposal to build the state’s largest shopping centre in Booragoon have escalated by nearly $300 million.

IP Generation has acquired AMP Capital’s half stake in a Rockingham shopping centre for $180 million, with Vicinity Centres retaining the other 50 per cent as co-owner.