Simon Property Group recorded USD 1.44 billion in revenue in Q1 2024
Author : PNT Bureau
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....
London's resilient Commercial Real Estate market attracts record U.S. investment
Author : PNT Bureau
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....
Car manufacturer Aston Martin introduces its first-ever residential project of 66-story in Miami
Author : PNT Bureau
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....
hBits plans expansion to UAE to facilitate fractional real estate investments in India and Dubai
Author : PNT Bureau
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....
Aldar launches Athlon, a pioneering 'active living' concept in Dubai
Author : PNT Bureau
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....
Signa Prime Selection sells Hotel Bauer amid Europe's real estate crisis
Author : PNT Bureau
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....
Foreign investors drive Spanish real estate market to record highs, despite decline in transactions
Author : PNT Bureau
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-...
Investing in Dubai Real Estate: Navigating FEMA regulations for Indian investors
Author : PNT Bureau
In 2023, Indians emerged as prominent property buyers in Dubai, surpassing British investors in at least two quarters and investing around USD 2 billion in the UAE property market between 2020 and 2023. With attractive investment propositions, particularly in newly developed areas, UAE developers have targeted affluent and upper middle-class Indian investors with installment plans. However, many buyers are unaware of the Foreign Exchange Management Act (FEMA) implications. According to FEMA, residents can only remit up to USD 250,000 annually for property purchase abroad, and borrowing for such transactions is prohibited. Despite relaxed Golden Visa rules, RBI restrictions require careful consideration of installment schemes to avoid legal complications. Clarity from Indian authorities and due diligence are crucial for safe international investments....
Matt Damon acquires luxurious USD 8.6 million condo in West Hollywood's Towering 8899 Beverly
Author : PNT Bureau
Actor Matt Damon expands his real estate holdings with an USD 8.6 million condominium purchase at the prestigious 8899 Beverly building in West Hollywood. This 2,850-square-foot unit boasts two bedrooms, two and a half bathrooms, and panoramic views of the Hollywood Hills. Developed by Olson Kundig, 8899 Beverly offers luxurious amenities, including a 24-hour concierge, fitness center, and resort-style pool. Notably, the building promotes social equity by allocating its first floor to 15 affordable housing units. Damon's investment highlights the appeal of ultra-luxury high-rises in Los Angeles, positioning 8899 Beverly as a coveted address blending luxury, inclusivity, and convenience for high-profile residents....
Dubai announces the construction of the world's largest airport terminal
Author : PNT Bureau
Dubai announced the commencement of construction for a new terminal at Al Maktoum International Airport, slated to become the world's largest aviation hub. The ruler of Dubai emphasised its global preeminence, surpassing its counterparts with a capacity five times greater than Dubai International Airport. Sheikh Ahmed bin Saeed Al Maktoum outlined the phased trajectory of the project, aiming to accommodate 150 million passengers annually within a decade. Despite spatial constraints hindering expansion, authorities are resolute in their ambition to supplant the existing airport and establish a modern, thriving transportation hub at the heart of the city....
This disclaimer ("Disclaimer") is applicable to the entire Site. Upon entering the Site it is recommended that you immediately read the Terms and Conditions and Privacy Policy listed therein. Your continued usage of this Site will indicate your unconditional acceptance of the said Terms and Conditions and Privacy Policy. You hereby agree that Prop News Time reserves the right to modify at any time, the Terms and Conditions and Privacy Policy governing this Site without prior notification. Your usage of the Site implies that you will be bound by any such modification. You agree and acknowledge that it is your responsibility to periodically visit the Site and stay updated with the Terms and Conditions and Privacy Policy of the Website.
The information contained in this Site has been provided by Prop News Time for information purposes only. This information does not constitute legal, professional or commercial advice. Communication, content and material within the Site may include photographs and conceptual representations of projects under development. All computer-generated images shown on the Site are only indicative of actual designs and are sourced from third party sites.
The information on this Site may contain certain technical inaccuracies and typographical errors. Any errors or omissions brought to the attention of Prop News Time will be corrected as soon as possible. The content of this Site is being constantly modified to meet the terms, stipulations and recommendations of the Real Estate Regulation Act, 2016 (“RERA”) and rules made thereunder and may vary from the content available as of date. All content may be updated from time to time and may at times be out of date. Prop News Time accepts no responsibility for keeping the information on this website up to date or any liability whatsoever for any failure to do so.
While every care has been taken to ensure that the content is useful, reliable and accurate, all content and information on the Site is provided on an "as is" and "as available" basis. Prop News Time does not accept any responsibility or liability with regard to the content, accuracy, legality and reliability of the information provided herein, or, for any loss or damage caused arising directly or indirectly in connection with reliance on the use of such information. No information given under this Site creates a warranty or expands the scope of any warranty that cannot be disclaimed under applicable law.
This Site provides links to other websites owned by third parties. Any reference or mention of third-party websites, projects or services is for purely informational purposes only. This information does not constitute either an endorsement or a recommendation. Prop News Time accepts no responsibility for the content, reliability and information provided on these third-party websites. Prop News Time will not be held liable for any personal information or data collected by these third parties or for any virus or destructive properties that may be present on these third-party sites.
Your use of the Site is solely at your own risk. You agree and acknowledge that you are solely responsible for any action you take based upon this content and that Prop News Time is not liable for the same. All details in the form of news stories, photos and videos provided on this Site are updated on the basis of information available from the respective developers/owners/promoters. All such information will not be construed as an advertisement. This Site is for guidance only. Your use of this Site – including any suggestions set out in the Site and or any use of the resources available on this Site, do not create any professional–client relationship between you and Prop News Time. Prop News Time cannot accept you as a client until certain formalities and requirements are met.
Cookie Disclaimer
We use cookies to give you the best possible service while using our website, please accept it and continue browsing if you're happy with this. For more information see our Privacy Policy
