LONDON-Lobbyists for the property industry believe REIT legislation is on course for introduction in mid-2006, but warn that government plans to impose 22% tax could kill off foreign investment in them.

LONDON-British Land is acquiring rival Pillar Property for euro 1.2 billion ($1.5 billion) in an agreed takeover. The deal is the first major buy under the reign of recently tapped chief executive Stephen Hester.

LONDON-British Land is acquiring rival Pillar Property for euro 1.2 billion ($1.5 billion) in an agreed takeover. The deal is the first major buy under the reign of recently tapped chief executive Stephen Hester.

LONDON-Westfield has doubled its stake in the White City shopping center scheme in west London after buying out the shares of Multiplex and the Reuben Brothers. But the news was not well received originally by Multiplex shareholders, and the firm finds itself fighting "rumours" of a financial squeeze.

LONDON-Westfield has doubled its stake in the White City shopping center scheme in west London after buying out the shares of Multiplex and the Reuben Brothers. But the news was not well received originally by Multiplex shareholders, and the firm finds itself fighting "rumours" of a financial squeeze.

LONDON-DekaBank, Germany's second largest fund manager, saw further investor outflows from its open-ended property fund, according to newly released industry data. So far this year, Deka has seen euro 841 million ($1.01 billion) withdrawn by investors. If there's any good news, the withdrawals have slowed since March.

LONDON-DekaBank, Germany's second largest fund manager, saw further investor outflows from its open-ended property fund, according to newly released industry data. So far this year, Deka has seen euro 841 million ($1.01 billion) withdrawn by investors. If there's any good news, the withdrawals have slowed since March.

LONDON-William Hill became Britain's biggest bookmaker on Monday after snapping up 624 betting shops from Stanley Leisure for euro 737 million ($928 million). But the group is also planning to sell up to 50 of the newly acquired outlets to ensure it does not run afoul of competition law.