Shopping Mall Owner Warns of Delayed Property Revival ; Retail

Birmingham Post › August 07, 2008

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Summary

Shopping mall owner Liberty International yesterday posted a 7.4 per cent fall in its portfolio value - and warned a UK property market revival could not begin before the banking sector recovered.

Shares in Britain's third-largest real estate investment trust were trading down 5.2 per cent at 920 pence after it said the value of its assets fell to pounds 7.99 billion in the first half of 2008.

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Extract

Shopping Mall Owner Warns of Delayed Property Revival ; Retail

"The property cycle has to run its course with excesses of the boom years to be purged from the system," said Liberty chairman Patrick B...

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