Dubai conglomerate Al Habtoor Group plans to acquire commercial property in Europe this year as part of its expansion plans and expects 15 per cent to 20 per cent revenue growth across its businesses in 2023.

The family owned business, with interests in the property, hospitality, automotive, insurance, education and publishing sectors, is looking at countries near Hungary, including Slovakia, the Czech Republic and Romania to buy property, its vice chairman and chief executive Mohammed Al Habtoor told The National in an interview.

The company currently owns an office complex and two hotels in the Hungarian capital, Budapest. It also has hotels in Austria, the UK, Lebanon and the US.

Mr Al Habtoor did not disclose how much the company plans to spend in buying property but he said they were “looking for the right thing which has a good yield”.

The company aims to fund the new deals through its own resources and has no plans to borrow from banks or raise cash through bonds or sukuk.

The prices are “good now … there is an opportunity”, he said.

Europe faces economic headwinds with higher inflation and a tightening of monetary policy by the European Central Bank.

The euro area, which includes 20 EU countries that use the euro as their primary currency, is forecast to grow by 0.8 per cent in 2023, following a 3.5 per cent expansion in 2022, according to the International Monetary Fund.

The company aims to double or triple its portfolio in the next five years.

“With our investment in Europe, here or in the region, we have the appetite and capability to expand more.

“All the sectors, even in the schools, we are looking to expand in different areas, to go to different countries,” Mr Al Habtoor said.

The company intends to expand in the UAE and plans to unveil a new real estate project in Dubai by the end of the year following the launch of a Dh3.7 billion residential tower in Al Habtoor City, on Sheikh Zayed Road, earlier this year.

It has been “very busy” on the sales side at the new property, which it says is one of the largest residential towers in the world with more than 1,700 units.

“The general demand in Dubai for real estate is huge. There is still an appetite but [it] depends on the location, as well as the amenities you provide and the surroundings,” Mr Al Habtoor said.

Dubai’s property sector performance reached a total transaction value of Dh157 billion in the first quarter of 2023, an 80 per cent annual increase, the Dubai Media Office said in April.

The number of real estate transactions during the period grew 49 per cent to 38,715.

High-net-worth individuals (HNWIs) from around the world plan to spend $2.5 billion on Dubai property this year, according to global property consultancy Knight Frank.

Government initiatives such as residency permits for retirees and remote workers, and the expansion of the 10-year golden visa programme, as well as the economic boost from Expo 2020 Dubai and higher oil prices, have buttressed the UAE’s property sector over the past two years.

Dubai will continue to attract new buyers because property is less costly to buy in the emirate, compared with big cities such as New York or London, and offers a good lifestyle for families and individuals to live, he said.

“The property sector is undervalued,” Mr Al Habtoor said.

It is also one of the safest places in the world, with an attractive business environment and policies for businesses to thrive and expand their operations, he said.

“[Doing] business is easy and the government rules are very clear. There are no surprises and hidden things that you get surprised in the future. That’s why people have trust.”

Most banks and financial institutions have set up offices in the emirate to cover the Mena region, as well as the Indian subcontinent, Mr Al Habtoor said.

Dubai was the world’s top destination for greenfield foreign direct investment projects in 2022 for a second consecutive year, cementing its position as a worldwide FDI centre despite global economic headwinds, a report found.

The emirate, the tourism and commercial centre of the Middle East, achieved 89.5 per cent annual growth in FDI projects announced last year, the Dubai Media Office said in May, citing data from the 2022 Financial Times fDi Markets report on Sunday.

The company expects revenue growth of 15 per cent to 20 per cent revenue across its businesses in 2023, compared with last year. This does not include sales from Al Habtoor Tower.

The hospitality and motoring divisions contribute the lion’s share of revenue, at 65 per cent, followed by real estate, education and insurance.

The company, founded in 1970, owns seven hotels in Dubai and is the distributor of global vehicle brands such as Mitsubishi, Chery and JAC Motors. It also has two schools in Dubai.

On the initial public offering plans of the company, Mr Al Habtoor said they might have something to announce by the summer of next year.

“By one year from now, maybe next summer, we might have something ready to be announced, but the chairman will take a final decision.”

Source : TheNationalNews

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The Ministry of Digital Governance has been forced into a new delay for the implementation of the digital property file, with which notaries could complete property transfers in a short period of time by obtaining the required supporting documents through interoperability.

Although it was supposed to be fully operational on November 1, this date has been pushed to January 1, 2024. Of course, the market considers the schedule set by the relevant ministry to be unattainable, as there are insurmountable problems, which for now at least cannot be resolved.

At the same time, the notary will not be able to draw from the digital property file all the required supporting documents (they amount to approximately 17 in each case), but only six to eight supporting documents, while the system will work exclusively for properties that are registered.

Persistent red tape

Essentially, the bureaucracy remains and there will be few, it seems, real estate transfers that can be served by the digital real estate file. And this is because, as the notaries report, approximately 85% of the properties that have acquired a KAEK (land register number) present errors. Obvious mistakes (in name, etc.) will be addressed, they note, however differences in area cannot be addressed.

Although the government claims that they will be able to unlock KAEK and proceed with corrections, in practice this is impossible. And this as in the case, for example, that a plot of land has been declared to cover 160 square meters and from the registration and the engineer’s topography it stems it is 160.8 sq.m., then no correction can be made. Such a change is likely to create a problem for the neighboring plot, reducing its declared square meters.

All these have not been foreseen by the new system. In this context, a meeting of notaries with the staff of the Ministry of Digital Governance was planned last week for an exchange of views and the presentation of the new system.

It is noted that before the notary can start the transfer procedures, the pre-procedure by the engineer must be finished, which also requires in many cases months to complete the collection of the documents from the town planning and cadastral offices. In fact, as the notaries claim, today there are approximately 30,000 pending property transfers, as it is impossible to collect the data.

Interoperability

However, the Ministry of Digital Governance claims that with the digital property transfer file notaries will be able to obtain the necessary supporting documents and complete the relevant contracts in a short period of time, without having to wait for the municipalities, the tax office or other state bodies to issue them. All documents will now be pulled through interoperability. With the planned changes, the transfer of property can, they claim, be completed in a few days, while the legality check will also be completed in one day.

According to the competent ministry, from January 2024 the digital property transfer file will operate, in which the notary will enter a digital application and send an invitation via gov.gr to the buyer and seller. Within this common digital environment, tax information, insurance information and some other supporting documents will be collected.

Upon completion of the process, the digital contract will be created. This means that the title deed will be a digital document whose content will not need to be repeated in various documents as is done today.

Source : Ekathimerini

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The largest proportion of global wealth is held in the residential property market, and it’s been outperforming almost every other asset class.

Any budding investor weighing up their options may consider putting their money into bonds, funds, stocks, gold or even cryptocurrency, among other things, but it is the real estate market that not only has the highest level of investment globally, but has soared in value in the past three years.

The latest research published by Savills shows that the world’s property market was worth a huge £379.7trn as of the end of 2022, with more than three quarters of this to be found in residential property specifically. The sector alone was worth £287.6trn globally by the end of last year.

Further to this, the residential property sector saw a huge 21.1% leap in its value in the three-year period between 2019 and 2022, faring well through various factors that created market turbulence elsewhere, such as the Covid pandemic.

The only asset class to perform more strongly during the three-year time period was gold, which saw its value grow by 26.9%. However, as Savills points out: “The total value of gold is still dwarfed by the value of the real estate markets worldwide.”

Outperforming bonds and equities

Residential property across the globe “significantly” outperformed both bonds and equities over the last three years. Over the past year, the global value of equities has fallen by 20.3%, followed by agricultural land by 11.4% and debt securities by 3.2%.

Across the whole of the real estate sector – including both commercial and residential property – there has been an 18.7% hike in value over the past three years. Commercial real estate was slower to climb, though, with a 14.4% rise in value.

The most valuable real estate market, says Savills, remains China, as it makes up more than a quarter (26%) of the world’s total real estate value. Of course, it is also one of the most highly populated countries in the world, with 1.4 billion people and a vast amount of land space.

The US was the country with the second highest value real estate market, accounting for 19% of the total; but again, it is a large and highly populated country. After this, Japan came in third position, followed by Germany and then the UK.

Savills explains the balance: “Significant real estate wealth is concentrated in Europe and North America. The value of property in these two regions accounts for almost half (47%) of the total value worldwide, despite them being home to just 17% of the global population.

“Asia-Pacific (excluding China), by contrast, has 37% of the world’s population but accounts for only 17% of global real estate value.”

UK residential property hit £8.68trn in 2022

As of the end of 2022, Savills estimates that the total value of UK residential property was a record-high £8.68trn, having grown by 5.1% since the previous year. This comes off the back of accelerated house price growth over the past three years.

Lucian Cook, head of research at Savills, said: “The total value of all housing has risen by almost a quarter (+23%) since 2019, while outstanding mortgage debt went up by a lower +11%. So, while outstanding borrowing increased by £168bn, the growth in the total equity pot was well over nine times that figure at £1.46trn.”

The residential property market in the UK remains an extremely popular asset class among investors. It has continued to perform strongly throughout the past few years, in spite of some major shifts within the economy, and appetite remains strong despite rising mortgage rates.

Estate agency Hamptons recently released a forecast indicating that the market will return to growth from 2025, in what it deems to be the start of a new “property market cycle”, so the total value of UK residential property looks set to continue to climb.

Source : BuyAssociation

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Real estate buffs will say that a good property is like a priceless work of art, but this newly sold Italian villa, where the legendary artist Michelangelo grew up, takes it to a new level.

Located in the village of Settignano, northeast of Florence, the home— now known as Villa Michelangelo—was built between the 14th and 15th centuries.

Not only did it serve as the childhood home of the Renaissance artist, but also as a studio for the budding sculptor and painter, according to a November announcement of the sale from Building Heritage/Forbes Global Properties, which represented both parties in the transaction.

Building Heritage/Forbes Global Properties

The 9,700-square-foot-home was on the market for €8 million (US$8.6 million), though the final sale price was not disclosed.

Spread over four levels, the building has covered terraces and a square internal tower, once used as a guardhouse. It’s surrounded by an orchard and some 200 olive trees, covering an area of almost 2.5 acres.

Mansion Global couldn’t identify either party involved in the transaction.

Building Heritage/Forbes Global Properties

Michelangelo, born as Michelangelo di Lodovico Buonarroti Simoni, was born in Caprese in 1475 and died in Rome in 1564 at the age of 88.

His most famous works include the sculptures Pietà and David—which were created before the artist turned 30—as well as two of the most influential frescoes in the history of Western art: the scenes from Genesis on the ceiling of the Sistine Chapel in Rome and The Last Judgment on its altar wall.

Source : MansionGlobal

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But what do you need to think about before you embark on your property search?

The Connexion spoke to property experts to find out what potential movers should consider when looking to buy property in France.

Do your homework

Make sure you research France and its varied regions before you start house hunting, or better yet, take a trip to research possible locations.

“France is a huge country with massively varied countryside, architecture and climate. A holiday spent touring the part that you are drawn to is good research,” says Julie Savill, from estate agency Beaux Villages, which has local property experts across France.

“Take a map and start marking areas, towns or villages that you like. Narrow down your search area before you even start thinking about viewings!” she says.

How remote do you want to be?

Many people dream of moving to rural France and escaping the hustle and bustle of the city, but it is worth thinking carefully about just how rural you want to be and what the ramifications of a rural life could be.

“There are plenty of properties where you can be very rural, with no neighbours and a short or long drive to the nearest village. For some, this seems idyllic, however, you need to consider whether the novelty of seeing very few people and always having to drive to get your bread and provisions will wear off over a period of time,” says Natasha Alexander of Suzanne in France, a British-owned estate agency based in Normandy.

“We recommend you do some research into the nearest village and large town and decide how close you would like to be,” she says.

Create a wishlist

Writing down what you definitely want in your new house can be useful when it comes to starting your property search.

“How many bedrooms/bathrooms? Will you do renovation work or just decorating? Do you want the luxury (and the cost) of a pool? Would you be happiest in a village or do you want to be completely alone in the countryside?” says Ms Savill.

Also consider what kind of house you would ideally want to buy.

“Do you dream of a renovated farmhouse, a maison de maître, a pavilion style house – how do you wish to live? Is it preferable to live on one floor or do you require something that is a new-build where the energy efficiency is the best it can be,” says Ms Alexander.

And it is just as important to think about your red lines.

“Are neighbours an absolute no? What about modern properties?” says Ms Savill.

Research the French housing market

Get acquainted with France’s housing market, which could be very different from that in your home country.

“Researching the housing market is essential. Prices vary significantly depending on the region and may not be as cheap or expensive as expected, says Patrick Joseph from My French House, a UK-based company that helps house hunters find properties in France.

“Some buyers still harbour the dream of finding a chateau to renovate or a farm in Provence for the price of a terraced house in the UK, but this is usually unrealistic. The good news is that asking prices for resale properties have been reducing over the past few months as the national market cools,” he says.

Check transport links back to your home country

Those who plan to buy a second home or stay in their home country for part of the year should look into transport links.

“Have you looked at the various routes available and the costs involved in travelling back to your home country. Are there good links back? How long will it take?” says Ms Alexander.

“This may not be of great importance if you do not plan to do this regularly but if you are commuting between the two countries this may be a deciding factor as to where your house will be.”

Be realistic about your budget

It can be easy to ignore your budget when picturing yourself in that beautiful chateau, but it pays to be realistic.

“Consider currency exchange rates so you know just how much you have to work with,” says Ms Savill. “Estate agency fees are generally included in advertised prices and you will need to pay in the region of 8% notaire fees on top. This includes the equivalent of stamp duty/land registry in the UK.”

“Setting your budget is a fundamental step,” agrees Mr Joseph. “If you need financing, apply for a decision in principle from a French bank or broker as early as possible; the criteria for mortgages are very strict. If you need to sell a property elsewhere, try to coordinate the timing of listing your home with your visits to France,” he says.

Mr Joseph also recommends researching currency transfers and the buying process in France, for example, how exactly to make an offer and when to pay your deposit. “These will differ from your home country,” he says.

Beware of the land trap

It is not only your budget about which you should be realistic – while many people dream of buying a property with land – consider how much you will be able to look after.

“A lot of properties come with a lot of land. If this is to be a holiday home, think carefully about the work and cost of maintaining a big garden or even a field and woodland if you are only there occasionally,” says Ms Savill.

Natasha Alexander says Normandy, and its excellent value for money, is attractive to people who want to buy land, for example to run a business or have a smallholding.

“Consider how much land is too much. Don’t forget acres and acres need to be maintained and looked after. Do you want this burden, in particular, if you want a lock-and-leave holiday home?” she says.

Be prepared to change your mind

There is nothing wrong with changing your mind about what you want, says Julie Savill.

“Be prepared to change your mind once you start viewing. That cute old stone property might just feel very dark once you get inside and a complete lack of neighbours could turn out to leave you more isolated than you anticipated,” she says.

And be willing to see a few wild cards.

“Sometimes really good properties don’t come over so well in photographs. Be prepared to go and see a couple of places that challenge your wishlist,” Ms Savill says.

Check out the local schools

If you are moving with young children, make sure to research the local schools before deciding on a house.

“Do you have easy access to the local primary school? While it may seem very quaint and again idyllic to live in the countryside when the children are very young. Have you considered when they become older and wish to play with friends after school?” says Ms Alexander.

“A little planning ahead could mean that you are not spending a lot of time taxiing your children to and from various sports clubs and the school itself.”

Consider healthcare options

It is important to think about healthcare options, whether you are planning to stay in France into old age or perhaps have a current healthcare condition that will need regular attention once you move.

“None of us like to think of getting older or sick, but consider your local clinic for services and the closest hospital. How long will the journey be if you need regular treatment?” says Ms Alexander.

Check the Internet connection

Something that could easily slip your mind is checking the local internet speed of the house you are looking at.

“While many areas have fibre now you will need to check the speed of the internet connection, in particular, if you use the internet for your work,” says Ms Alexander.

Find an agent

A good agent can help you navigate the process of buying in France.

“Buying privately is absolutely possible if you feel informed and confident enough to deal with a negotiation and contracts, which will all be in French,” says Ms Savill.

“An agent will have excellent local knowledge and a great awareness of the correct pricing for your local area. Speak to a few people and find someone you connect with,” she says.

Source: The Connexion

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Average house prices in the UK will fall by 1% next year as competition increases among sellers, Britain’s biggest property website has forecast.

Sellers were likely to have to price more competitively to secure a buyer in 2024, while mortgage rates would settle down though “remain elevated”, said Rightmove.

A year ago, Rightmove predicted that average asking prices would fall by 2% in 2023. On Monday, the company said the average was 1.3% lower than in 2022 as the property market continued to contend with significantly higher mortgage costs and a cost of living crisis that refused to go away.

The website records asking prices rather than the actual one properties are sold for. It said it was predicting that these would typically be 1% lower nationally by the end of 2024. The market was continuing its transition to “more normal levels” of activity after the busy post-pandemic period, it added.

Rightmove said the number of sellers who had had to cut their asking price during 2023 had risen to 39%, compared with 29% last year and 34% in 2019.

Tim Bannister, a property expert at Righmove, said: “An average drop of 1% in prices reflects our prediction that it’s likely to be another muted, and in parts challenging, year for some buyers and sellers in 2024.” But he added: “The better-than-anticipated activity this year has shown that many buyers are still getting on with satisfying their housing needs, and there is considerable opportunity for sellers and their agents to attract these buyers with the right pricing.”

On Friday, Nationwide building society surprised some observers when it announced that prices were up 0.2% month on month in November, after a 0.9% increase in October and a 0.1% rise in September. However, it said that on a year-on-year basis, prices were down 2% in November.

Last week, the property website Zoopla said market conditions were the best for buyers since 2018, when Brexit uncertainty hung over the market.

There was better news for people having to remortgage next year. The mortgage broker John Charcol predicted on Friday that the rates on some new fixed-mortgage deals could dip below 4% by mid-2024.

Rightmove said average mortgage rates had now fallen steadily since July, “providing movers with much more stability and certainty over the type and cost of mortgage offer they are likely to receive”.

But while the outlook for mortgage rates had improved, with many commentators believing interest rates may have peaked, the property website said: “Affordability remains stretched for many buyers.”

As the Bank of England signals that any cuts to its base rate are not imminent and that borrowing costs are likely to remain elevated during 2024, “some buyers’ spending power will remain limited”. said Rightmove.

Source : TheGuardian

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A key player in the housing market has said it expects asking prices to track around 1% lower nationally by the end of next year, as the market continues to normalise after post-Covid freneticism.

Sellers will likely have to price more competitively to secure a buyer next year and agents will have to work harder especially when it comes to first-time buyers as affordability remains stretched, according to Rightmove (RMV.L).

“The housing market is made up of thousands of local markets, each with their own unique dynamic of supply and demand,” said Rightmove’s property expert Tim Bannister. “In areas with more discretionary sellers and fewer homes for sale, we may see new seller asking prices remain flat, or even very slightly increase compared to this year.”

The platform thinks mortgage rates will become more predictable — but remain high, meaning middle-market and lower end buyers will struggle. The average two-year fixed rate is now 5.52% and average five-year rate is 5.11%.

The real estate platform used a predictive model to forecast, based on millions of supply and demand pricing data, as well as a panel of experts.

A year ago, it predicted average new seller asking prices would drop by 2% in 2023, and they are currently 1.3% lower year-on-year.

Looking back at this year, the average time for a seller to find a buyer has jumped from 45 days to 66 days. Meanwhile, some monthly price falls have been greater than the usual seasonal trends this year.

The level of price reductions has increased during 2023, with 39% of properties now seeing a price reduction during marketing compared to 29% last year, and 34% in 2019. New sellers will need to compete with their cut-price neighbours, and work with their agent to start their marketing with a competitive price, rather than starting too high and needing to reduce later.

Research shows that pricing right at the outset maximises the initial impact among local buyers and gives new sellers a much greater likelihood of a successful sale.

Buyers are much more likely to see a choice of homes for sale in their area that suits their needs compared to the stock-starved pandemic years, Rightmove said. Buyers coming to market in 2024 are in a strong position to negotiate on price and take more time to choose the home that’s right for them.

However, the number of available homes for sale has only just increased to pre-pandemic levels and there are no signs of a wave of new listings which would create a glut of homes for sale. With more choice and fewer buyers on the ground, it will be those sellers who are willing and able to price temptingly who will attract buyer’s attention.

Meanwhile, UK house prices rose in November in the third consecutive monthly increase as the market now expects interest rates to start coming down. The average cost of a home rose 0.2% in November from the month earlier to £258,557, Nationwide Building Society said on Friday. From a year ago, prices fell 2%, which was the strongest reading in nine months.

Earlier last week Zoopla published its house price index for November showing houses were being sold at steep discount. In London properties are selling for £25,000 less than the asking prices, while in the rest of the country sellers were lowering prices by £18,000.

Source : YahooFinance

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VIENNA, Nov 21 (Reuters) – Raiffeisen Bank International (RBI) (RBIV.VI) has realized additional forward-looking risk provisions of around 150 million euros ($163 million) for the real estate sector, the Austrian bank’s risk chief, Hannes Moesenbacher, said on Tuesday.

Chief Executive Johann Strobl added that these provisions are “on top” and therefore go beyond what can be modelled.

Moesenbacher declined to answer shareholders’ questions at an extraordinary general meeting on Tuesday about the bank’s exposure to the troubled Signa Group of Austrian real estate investor Rene Benko, instead referring to banking secrecy.

“In total, our top five commitments in the real estate sector amount to 2.2 billion euros,” said Moesenbacher, who added that number one position amounted to 755 million euros.

Shareholders had convened the meeting, among other reasons, to resolve the distribution of a 2022 dividend of 80 cents per share. At its general meeting in March, RBI had decided not to distribute a dividend for the time being due to uncertainties.

Strobl also told shareholders that RBI was working on variations on how to get capital out of Russia but said a significant discount to the nominal value would be assumed.

Source : Reuters

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In recent years, property prices have largely followed a consistent upward trajectory; however the last 12 months have been anything but smooth sailing for the housing market. A combination of factors from rising interest rates, falling property prices, and shaky public confidence have been a perfect storm for the property market that looks to have no sign of ending just yet.

A perfect storm for the housing market

Buoyed by the prospect of falling prices, many wannabe homeowners hoped the predictions of a property crash would finally allow those priced out of the market to get a foot on the property ladder; however, as yet, this hasn’t materialised.

This is because the value of any falls in purchase price have been tempered by the increased cost of borrowing; average falls in sold property prices in 2023 are reported to be around 4%, but with the soaring cost of borrowing, the reality is that buying a property with a mortgage has actually become a more expensive prospect for many. If interest rates are to remain at their current levels, the only way affordability can be improved is if earnings rise or property prices take a meaningful fall.

The problem of uncertainty

An uncertain marketplace creates an environment of low consumer confidence. A property purchase is likely to be among the most significant buying decisions an individual will ever make, therefore, before taking this step, they understandably want to be as sure as possible that they are making a sound investment with their hard-earned money. First time buyers, particularly those with low deposits, are at particular risk of falling into negative equity should they purchase at the start of a sustained period of declining prices. This is making potential buyers much more cautious and therefore much more keen on securing a discount on the listed price.

Goodbye 2023, hello 2024

As we approach the end of 2023, it appears that buyers and sellers have reached an impasse. While buyers are wanting a discount on their purchase to cushion the squeeze on affordability and mitigate the risk of negative equity, sellers are so far reluctant to take a hit on the price they want to achieve.

So what does this mean as we look into 2024? Well, should this stalemate continue, this has the potential to create a property supply shortage as wannabe sellers hold firm. While some property sales are a necessity, such as in the event of death, divorce, or redundancy; many property transactions are optional, fuelled by a want – rather than a need – to trade up or down.

So while those that need to sell may be required to adjust their expectations as a consequence of weakening buyer power, those who do not have to move may well make the decision to stay put and ride out any impending storm.

Adjusting to a changing marketplace

While a stagnant property market is a possibility in 2024, the alternative is that buyers and sellers alike may find they adjust to the ‘new normal’ over the course of the year; for purchasers the new normal means higher interest rates, whereas for sellers the new normal is a reduction in the price that they can command for their property. With revised expectations on both sides, this may be enough to kickstart the housing market once more.

A cooling market or a crash?

It is important to make the distinction between a cooling in property prices and a wholesale property crash. Many experts are predicting house prices will experience a drop in 2024, however, estimates for the scale of this drop are relatively conservative. It is perfectly possible for house prices to fall without the property market suffering a catastrophic crash in the process; for many, this appears to be the most likely scenario as we look forward into 2024.

The housing market does not exist in a vacuum; property prices rising or falling is often something which happens in tandem with something else, be that changes to interest rates, unemployment levels, availability, and population levels. With demand for property ever-changing, and the short-term economic outlook so uncertain, forecasting the future of the property market – something which until recently was easy to predict – is now becoming an increasingly impossible task.

Source : Today’sConveyancer

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