11 Aug 2025

It emerged that Country Garden, the Chinese property developer, managed to secure a deferral from the Hong Kong High Court, postponing its liquidation hearing until early next year. The hearing had been scheduled for this month but has now been pushed to early 2026, giving the firm a valuable window to pursue creditor backing for a sweeping offshore debt restructuring. The proposal aims to cut around USD 14.1 billion of liabilities by roughly 78 per cent, and winning sufficient support remains crucial to persuading the court to dismiss the petition.Read more

11 Aug 2025

Chennai-based DRA Group has entered into a strategic joint venture with the Philippines-based Balajadia Family Office to develop a large-scale commercial and retail project in India. The collaboration, sealed during the Philippines-India Business Forum in Bengaluru, will see the development of one million square feet of Grade-A space in the first phase. The project is being launched with an estimated investment of USD 100 million and will be carried out through a specially created SPV platform.Read more

08 Aug 2025

Emaar Properties, one of Dubai's most prominent real estate developers, recorded a notable increase in net profit during the first half of the year, supported by a sharp surge in property sales and a significantly expanded project backlog. The firm continues to benefit from the strength of Dubai's residential market, which remains resilient due to consistent demand from both international investors and regional end-users. Emaar's diverse operations across hospitality, retail, and overseas markets further contribute to its sustained performance.Read more

08 Aug 2025

The Durst Organization has secured a major commercial mortgage-backed securities loan to support its One Five One office tower in Times Square. The financing, jointly led by Wells Fargo, JPMorgan, and Bank of America, will fund tenant upgrades and capital improvements. Legal counsel described the deal as a turning point for New York's office market, reflecting a growing appetite for premium, well-amenitised properties in the post-pandemic era. New tenants such as TikTok and Nasdaq mark a strong repositioning of the asset.Read more

07 Aug 2025

CapitaLand Integrated Commercial Trust (CICT) will acquire full ownership of the office and retail portions of CapitaSpring in Singapore's Raffles Place, buying out CapitaLand Development's 45% and Mitsubishi Estate's 10% stakes. Valued at SGD 482.3 million, the deal totals around SGD 1.05 billion and will be funded through a SGD 500 million private placement. With this move, CICT's Singapore exposure rises to 95%, and distribution per unit is expected to increase by 1.1% (pro forma). CapitaSpring-a 51-storey tower with premium offices and retail-boasts high occupancy, particularly from banking, legal, and tech tenants. The acquisition supports CICT's strategy to grow via high-quality, local assets.Read more

07 Aug 2025

HNI Corporation has announced plans to acquire office furniture firm Steelcase in a cash-and-stock transaction valued at approximately USD 2.2 billion. The deal, unveiled earlier this week, will result in the formation of a combined entity expected to generate annual revenue of around USD 5.8 billion. Steelcase shareholders will receive USD 7.20 per share in cash and 0.2192 shares of HNI common stock for each Steelcase share. The transaction reflects a premium of nearly 80 per cent over Steelcase's prior closing price.Read more

05 Aug 2025

Australia's residential property market continued its upward trajectory, recording new national price peaks despite a visible deceleration in growth. Limited housing supply and steady auction activity have sustained the upward pressure on prices. Major cities including Darwin, Perth and Sydney witnessed notable gains, although the pace was more tempered compared to earlier trends. Analysts suggested that improved consumer sentiment, coupled with expectations of interest rate cuts, may help maintain modest price increases in the months ahead.Read more

04 Aug 2025

GHV Infra Projects has secured an engineering, procurement, and construction contract from Rana Exim FZ-LLC in the United Arab Emirates for the development of a smart manufacturing hub. Valued at approximately INR 2,645 crore, the project is located in Ras Al Khaimah Economic Zone and will comprise industrial and commercial infrastructure. The estimated completion timeline is 24 months, excluding an initial 90-day setup period. With this addition, the company's total order book now exceeds INR 7,000 crore.Read more

04 Aug 2025

CoStar Group has filed a lawsuit against Zillow, accusing the real estate platform of unauthorized use of nearly 47,000 copyrighted property images to bolster its rental listings business. These images, many of which carried watermarks, were reportedly published on Zillow's platform and syndicated to sites like Realtor.com and Redfin. CoStar is seeking over USD 1 billion in compensatory and punitive damages, alleging the infringement was both extensive and intentional. The company also warned it may take similar legal action against Zillow's syndication partners unless the disputed content is promptly removed.Read more

02 Aug 2025

McDonald's has put eight high-street retail properties in Hong Kong up for sale for about HKD 1.2 billion (USD 153 million), while continuing to operate from these locations under long-term lease agreements. The sale, managed by JLL, includes sites in key shopping districts like Causeway Bay, Tsim Sha Tsui, and Mong Kok. The company plans to sell a total of 23 properties in phases. Investor interest has already been high. The move aligns with McDonald's broader portfolio strategy and comes amid a retail slowdown in the city.Read more