News Articles for AMP Capital

The Reserve Bank of Australia has kept the official cash rate at a record low of 1.5 per cent as widely expected, but most economists believe a rate cut is around the corner.

AMP Capital has acquired a 50 per cent ownership stake in the private company that developed Optus Stadium, adding to several other infrastructure assets it has purchased in Western Australia including Kalgoorlie prison and Port Hedland airport.

The long-anticipated expansion of Galleria Shopping Centre in Morley has been deferred, just days after receiving final planning approval, though its co-owner has committed to a $63 million expansion of Ellenbrook Central.

Serviced offices and co-working spaces are becoming an increasingly important part of commercial landlords' property portfolios.

Singapore's GIC Real Estate has made its second major Perth commercial property purchase, acquiring A-grade office building Exchange Tower from joint owners Primewest and AMP Capital for $326 million.

Wages growth in Western Australia is lagging the country, with ABS data showing the state's wages increased just 1.6 per cent year on year, compared with a national increase of 2.3 per cent.

AMP Capital will begin a long-awaited $800 million development at Karrinyup Shopping Centre next week, increasing the size of the centre from about 60,000sqm to almost 110,000sqm.

The Perth office market offers good value to buyers looking to hold for the longer term, according to research from CBRE.

The downward trend in Perth's housing market has continued in September, with the latest CoreLogic data showing a 0.6 per cent decline in house prices for the month.

Perth house prices have fallen for a fourth straight month, after registering a 0.6 per cent decline in August, according to the latest data from CoreLogic.

Questions over the stability of Perth's office market have dogged the sector of late, but signs of an uptick in sentiment are emerging.

Perth inflation has hit its highest level since 2015, with prices rising 1.1 per cent in the year to June, while national data has again come in below expectations, signalling a likely continuation of loose monetary policy.

Listed investor Growthpoint Properties Australia has struck a deal to buy a Wellington Street office building, the latest deal off the back of a healthy sales pipeline for Perth's commercial office market.

Perth's dwelling prices suffered another drop in the month to June down 0.5 per cent, with units continuing to suffer larger falls compared to houses.

SPECIAL REPORT: High-density residential developments are emerging alongside some of the state's shopping centres, as owners seek to reposition their assets to offer more than just retail.

AMP has been hit with a fourth shareholder class action over the scandals revealed at the Financial Services Royal Commission and the resulting damage to the embattled financial giant's market value.

Will financial services companies wish they had taken a different path all those decades ago, when superannuation nest eggs looked so attractive?

AMP chair Catherine Brenner has quit with immediate effect as the fallout widens from the fees-for-no-service scandal at the Financial Services Royal Commission.

AMP chief executive Craig Meller has quit the wealth management giant, becoming the first major casualty of the Financial Services Royal Commission.

The private owner of Port Hedland International Airport has outlined plans for a $40 million redevelopment of the facility over the next five years.

The $216 million sale of Westralia Square and the purchase of the Quadrant building for $175 million have been the largest-value office transactions of 2017 thus far.

AMP Capital has secured 17 commercial tenancies in the past 12 months as work continues on the revamp of its 30-storey building on 140 St Georges Terrace.

SPECIAL REPORT: Developers remain bullish on plans to evolve shopping centres into community, lifestyle and entertainment hubs.

Analysis of spaces available for lease across the portfolios of Perth's 10 biggest office landlords shows stock market-listed groups are having the most trouble locking down tenants.

Scentre Group is gearing up to unveil its next-generation dining and entertainment precinct at Westfield Whitford City, one of several planned upgrades to its shopping centres across Perth.

Corporate Australia wants Canberra to deliver wider tax cuts for business and boost "good" spending in the federal budget next week, even as it urges the politicians to agree on a quicker path to a budget surplus.

Building upgrades in the Perth CBD are bringing the city's workplaces in line with the best offices available worldwide.

SPECIAL REPORT: Local developer and syndicator Primewest joined the list of Western Australia's top three office landlords following its $113 million purchase of a 50 per cent stake in Exchange Tower.

SPECIAL REPORT: New office development is grinding to a halt, but landlords are nonetheless aggressive in attempts to attract tenants to the city.

Hoyts Group has announced plans to open a new cinema complex in Karrinyup and redevelop its Garden City complex, as part of shopping centre redevelopments in those areas.

AMP Capital has bought the newly built Eastern Goldfields regional prison, joining the likes of Catholic Super, Australian Super and Aberdeen Asset Management as private owners of public infrastructure assets in Western Australia. Click through to see the BNiQ listing of public assets in private hands.

CBD landlords are continuing to invest in their assets to ensure they remain relevant in an increasingly competitive office market.

SPECIAL REPORT: Slower growth in discretionary spending is a challenge for some local fashion hopefuls, but export markets and tech-style accelerator programs are presenting opportunities.

Perth's big retail centres are evolving to become much more than just a collection of shops.

A new dining and entertainment precinct will open late next year in the northern suburbs, featuring up to 10 new restaurants and an eight-screen cinema complex.

National builders John Holland and Probuild are embracing new strategies to enhance their standing in the WA construction market.

Building will start next year on a $600 million redevelopment of Karrinyup Shopping Centre, with construction giant Brookfield Multiplex adding the big ticket job to its portfolio of works.

Landowners are capitalising on developer interest in the City of Melville, with neighbours joining forces to amalgamate lots and create medium-density residential opportunities close to Garden City Booragoon.

Shopping centre owners will need to fill 1,784 new shops by 2020, if an estimated $4.5 billion wave of mall development in Perth comes to fruition.

Unemployment in Western Australia increased slightly last month, with the jobless rate ticking up by 0.1 percentage point while the national rate remained unchanged.