Zara founder's asset value soars to $20 billion with strategic real estate investments
Author : PNT Bureau
Amancio Ortega's investment arm, Pontegadea, reported a 2.8 billion euro increase in real estate asset value, hitting 18.1 billion euros ($20.08 billion). The portfolio, which encompasses logistics centres and luxury buildings across the U.S., contributed to a net profit of 2 billion euros last year. Pontegadea, historically focused on real estate, is said to also be acquiring stakes in energy companies, demonstrating diversified investment strategies....
Toronto's luxury housing market experiences a decline in sales, with properties valued over $4 million witnessing a 34 percent drop year-over-year, as reported by Sotheby's International Realty Canada. The city's status as a financial hub provides some resilience, but buyers and sellers seek increased confidentiality through targeted marketing strategies. While interest rate hikes affect affordability and discourage conventional market adjustments, buyers may take advantage of the market in the fall. The trend is not exclusive to Toronto, as other major Canadian cities like Vancouver, Montreal, and Calgary also report varying degrees of sales decreases for high-end properties....
In response to growing concerns over foreign ownership of developments, the Singapore government has implemented a significant increase in residential property tax for foreigners, raising it to 60 percent. Under the new regulations, if a development is primarily owned by a foreigner (around 80 percent ownership), they gain control over the property, including the possibility of an en-bloc sale. The change has raised uncertainties in investment sales, collective sales, and shophouse markets, prompting market players to seek clarity on the rules. However, residential projects on land zoned purely for residential use remain unaffected by the tax hike....
Forecasting a Slower Pace: Multi-family housing starts on the decline in US
Author : PNT Bureau
Economists predict a slowdown in multi-family housing starts in the US as several factors come into play. With an increasing volume of multi-family units in the pipeline, weakening rental demand, and tighter lending standards, the outlook for the construction of multi-family properties appears less promising. As the market adjusts to changing dynamics, stakeholders and investors closely watch to see how these factors will impact the growth of multi-family housing construction in the coming months....
China's property sector faces uncertainty as policymakers weigh easing measures
Author : PNT Bureau
China's property market experienced turbulence as policymakers consider easing restrictive measures. Following a broad rally driven by top leaders' commitment to boost the economy and domestic demand post-COVID, investors eagerly anticipate support measures for the embattled sector. Amid mounting concerns over debt crises among state-backed developers like Sino-Ocean Group and Greenland Holdings, as well as property giants Country Garden and Dalian Wanda Group, uncertainty looms over the market's future....
Sweden’s SBB Residential Property to issue preference shares to Morgan Stanley Real Estate Investing
Author : PNT Bureau
Swedish property group SBB aims to improve its division's liquidity and financial standing by issuing preference shares to Morgan Stanley Real Estate Investing. The investment fund will become a minority shareholder in SBB Residential Property after the 2.36 billion Swedish crown share transaction. Facing financial difficulties after a credit rating downgrade to junk status, SBB is taking measures to strengthen its position. The preference shares have no specific maturity date and their return depends on the unit's sale or SBB's redemption. The recent fundraising news was well-received by investors, leading to positive changes in certain SBB bonds....
Dubai ranks first in global luxury real estate market
Author : PNT Bureau
Dubai has achieved a ground breaking feat in 2023, dominating the luxury real estate market worldwide. The city's total sales in high-end residential units, priced above $10 million each, soared to an impressive $850 million (Dhs3.1 billion) during the first half of the year, outshining prominent cities like London, New York, and Paris. According to Allsopp & Allsopp's latest market report, there were 176 high-value real estate deals between January and June 2023. Notably, a penthouse apartment in the Bulgari Lighthouse complex on Jumeirah Island was sold for a staggering $111.6 million (Dhs410 million)....
Brexit causes decline in English owners of European second homes
Author : PNT Bureau
New data from the English Housing Survey reveals a significant drop in the proportion of English citizens owning second homes in Europe since Brexit. Currently, 60% of holiday homes are located within the UK, a stark contrast to a decade ago when the split was even. The stringent 90-day visa restriction for non-visa holders in EU countries has led to a decrease, with only 60,000 people in England owning second homes in France compared to 89,000 in 2008. Overall, less than 30% of second homes in England are in Europe, down from 40% in 2012....
Abu Dhabi's property FDI surges 363% in 1st half of 2023
Author : PNT Bureau
Abu Dhabi's property sector experienced a remarkable 363% increase in foreign direct investment (FDI) during the first half of 2023, totalling Dh834.6 million. The Department of Municipalities and Transport revealed that Saadiyat Island secured the highest FDI share at 34%, closely followed by Yas Island (28%), Al Jurf (12%), Al Reem Island (11%), and Al Shamkha (8%). Dr. Adeeb Al Afifi, Executive Director of the Real Estate Sector, attributed the surge to Abu Dhabi's appeal to foreign investors due to its strategic location, excellent infrastructure, and supportive economic and legislative environment....
OYO expands premium accommodations for expats in Abu Dhabi
Author : PNT Bureau
In a strategic move aimed at bolstering its foothold in the competitive real estate market, OYO, the leading global hospitality chain, has announced plans to expand its portfolio of expat housing in Abu Dhabi. This latest initiative, reported on November 15, 2020, by RP Realty Plus, signifies the company's commitment to catering to the growing demand for high-quality accommodation among the expatriate community in the capital city of the United Arab Emirates....
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
.png)
.png)
.png)
