17 May 2024

Palette Resorts, a subsidiary of OYO, reveals a luxury residential cum retail tower in Abu Dhabi, adding 100 meticulously designed one-bedroom units in Al Zahiyah. Positioned at a prime location, the tower offers captivating city views and ample parking space, setting it apart. Surrounded by landmarks, shopping centres, and educational institutions, it promises convenience. The apartments boast modern amenities and essential electronic appliances for residents' comfort. OYO's global presence and diverse properties reflect its commitment to hospitality. With Abu Dhabi's robust economy and dynamic real estate landscape, the tower caters to the evolving needs of the expatriate community, showcasing OYO's dedication to unparalleled hospitality experiences.Read more

16 May 2024

Manhattan's apartment rents hit record levels. Median rent for new leases rose to USD 4,250, up USD 9 from last year. Landlords capitalise on low vacancy rates, leaving renters with few options. Uncertainty looms if rents will surpass last year's peak of USD 4,400. Despite challenges, rent increases are moderating, with a 0.2% rise in April. Leasing activity increased by 42%, partly due to tenants seeking alternatives. Meanwhile, neighbouring boroughs show mixed trends, with Brooklyn hitting a high and northwest Queens seeing a notable drop.Read more

15 May 2024

Dusit International joins forces with Pearl Atoll Pvt Ltd to manage their inaugural Maldivian resort, dusitD2 Feydhoo Maldives. Positioned near Male International Airport, the resort promises convenient access for guests seeking an unforgettable Thai-inspired hospitality experience. Fan Jianglin, Managing Director of Pearl Atoll, highlights Dusit's renowned warmth and attentiveness as key factors in the partnership. With Dusit's guidance, the resort aims for resounding success. This venture adds to Dusit's impressive portfolio of approximately 300 properties spanning hotels, resorts, and luxury villas across 18 countries, showcasing their commitment to global hospitality excellence.Read more

14 May 2024

Simon Property Group revised its annual funds from operations (FFO) forecast upwards due to robust leasing demand. Demand for rental spaces in commercial real estate investment trusts (REITs) remained strong, supported by a diverse tenant portfolio. Peers at Federal Realty Trust, Regency Centers, and Kimco reported steady traffic at their shopping centers. Simon Property expects FFO per share between USD 12.75 and USD 12.90. Visits to U.S. indoor malls fell by 5% in March, while open-air shopping centers saw a 1.6% increase. First-quarter FFO was USD 3.56 per share, surpassing estimates. The company's base rent per square foot rose to USD 57.53. Total revenue for the quarter was USD 1.44 billion.Read more

13 May 2024

Amidst a dynamic global market landscape, American investors are increasingly drawn to London's commercial real estate, propelling investment to its swiftest pace in eight years. Despite challenges facing the global commercial property market, London's resilience shines through, outpacing recovery trends observed in the United States. Fuelled by favourable leasing conditions and a robust dollar-to-pound exchange rate, this surge in interest underscores London's enduring appeal. High-profile transactions, like the conversion of the BT Tower into a luxury hotel, exemplify the growing prominence of American investors in the city's real estate scene.Read more

10 May 2024

Aston Martin has revealed Aston Martin Residences, a 66-story skyscraper in Downtown Miami, standing at 818 feet tall. With 99% of its 391 residences sold, the building offers bespoke design features inspired by Aston Martin cars, including carbon fibre fixtures. Amenities include an art gallery, private theatres, and conference rooms. The highlight is the Unique Triplex Penthouse, spanning 27,191 square feet and featuring its private helipad. This innovative project merges luxury automobiles with high-end real estate, redefining luxury living in Miami.Read more

09 May 2024

hBits, a company spearheading fractional real estate investments in high-yielding Indian assets, plans to expand its operations to the UAE. Residents of the UAE, both citizens and expats, will soon have the opportunity to participate directly in the booming real estate markets of the UAE and India while investing very small amounts. The company will allow retail investors in the UAE to obtain partial ownership of multi-million dollar residential and commercial properties in Dubai for as little as USD 30,000 through an alternative investment fund (AIF) being set up. For investments in Grade A office buildings in India, UAE investors would invest through an AIF that hBits plans to launch in GIFT City, India's international financial center.Read more

08 May 2024

Aldar Properties introduces Athlon, a pioneering 'active living' concept in Dubai, with world-class amenities and a dynamic program of activities curated by wellness experts. Developed with Dubai Holding, Athlon integrates principles of active living, aiming for long-term well-being. Athlon, located adjacent to Global Village, offers lush green spaces and interactive amenities, including a central park and themed areas. With over 10 kilometres of tracks and trails, the community offers ample opportunities for physical activity. Sustainability takes precedence, as demonstrated by its LEED Platinum certification and 2-Star Fitwel rating. Phase one sales start on May 7th.Read more

07 May 2024

Signa, led by Rene Benko, faces insolvency amid Europe's real estate crisis. Its subsidiary, Signa Prime, owns prized assets like Vienna's Park Hyatt Hotel and Golden Quarter. It has now sold Venice's Hotel Bauer to Schoeller Group. The deal is subject to bank and antitrust approval, and the deal is expected to close in months. Schoeller Group, a German family business, spans packaging and property sectors. The Bauer, owned by Signa since 2020, is undergoing renovation and will reopen under Rosewood Hotel Group's management next year.Read more

06 May 2024

Overseas buyers are increasingly investing in Spanish real estate, with notary data showing a 6.1% annual increase in average prices to EUR 2,715 per square metre. However, transaction volumes have declined since the first half of 2021. Specific regions like Asturias and Cantabria saw year-on-year increases in foreign property purchases. The Valencian Community leads in total transaction volume, driven by factors like stable demand, affordability, transportation links, and Mediterranean lifestyle. Andalusia and Catalonia also attract significant foreign investment. Asturias, particularly popular among international clients seeking rural locations, saw a record number of sales. British buyers led in total transactions, followed by Moroccans and Germans, with growing interest from affluent individuals in Colombia's luxury housing market. French buyers surpassed Germans and Brits among non-resident foreigners, while Moroccan and Romanian nationals were prominent among resident foreign buyers.Read more