Real-estate consultancy Soufun forecasts a growth rate of 6%-7% in new property under construction in 2012, a sharp slowdown from 20.5% in the first 11 months of 2011.

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There is enough residential property currently under construction to meet about five years of demand, without new projects being started, up from 2.9 years in 2009.

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According to the property listing, the home is still under construction and is being sold as is.

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The Founder property was not rented in 2007 because it remained under construction through the end of that year.

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This year, he sold his largest house, which is under construction on the waterfront, and signed on to develop a property for a major Hollywood executive.

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"Decisions made under our sole control, particularly in relations to our exposure to the property and construction sectors, negatively impacted our business, " it added.

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