14 May 2026

• ASOS will sell its Lichfield fulfilment centre to Marks & Spencer for GBP 66 million, or nearly USD 90 million.
• The deal is expected to generate a one-time pre-tax profit of around GBP 85 million for ASOS.
• ASOS said the transaction will also help reduce annual cash operating costs by nearly GBP 6 million.
• The company is restructuring operations to cut excess capacity and simplify its business amid weak consumer spending and inflationary pressure.
• ASOS expects the transaction to be completed in the second half of fiscal year 2026, while its Atlanta facility will remain its only non-core asset.Read more

14 May 2026

Dubai Holding has become the largest shareholder in Emaar Properties after acquiring a 22.27 per cent stake from Dubai’s sovereign wealth fund in an off-market transaction valued at around USD 6.5 billion based on prevailing market prices. Following the transaction, Dubai Holding’s shareholding in Emaar has increased to 29.73 per cent. The deal reshuffles ownership within Dubai’s state-linked investment network while keeping overall government-backed ownership unchanged. Emaar, one of the Middle East’s largest listed developers, has a diversified portfolio spanning residential, commercial, retail and hospitality assets across multiple international markets. The transaction comes amid weakness in Dubai equity markets, with Emaar shares declining around 15 per cent since the beginning of the year.Read more

14 May 2026

Equinix plans to invest more than USD 190 million to develop a new data centre in Kuala Lumpur, marking its fourth facility in Malaysia. The project will be located close to the company’s existing data centre campus in the Malaysian capital and will accommodate more than 2,200 cabinets. A significant portion of the facility’s capacity will support liquid cooling systems designed for artificial intelligence and high-performance computing workloads. The expansion forms part of Equinix’s long-term growth strategy in Malaysia, where the company has secured adjacent land parcels for future development. The announcement comes as Malaysia’s data centre sector faces increasing scrutiny over electricity and water consumption, alongside geopolitical concerns linked to the use of Southeast Asian markets for access to restricted AI semiconductor technology.Read more

14 May 2026

• Workspace rejected Saba Capital’s proposal to wind down the business over 12 months, stating that the plan was not achievable and would not maximise shareholder value.
• Saba Capital, which holds around 18.21% stake in the company, has also proposed removing five non-executive directors and appointing four new directors ahead of the July 23 AGM.
• The office-space provider continues to face pressure from hybrid working trends, lower rental growth and rising costs, with the company earlier warning of a sharp decline in fiscal 2027 profit.Read more

14 May 2026

Australia is expected to announce one of its most significant housing and property tax reform packages in decades as part of the federal budget scheduled for release later on Tuesday. The centre-left Labor government is reportedly considering changes to capital gains tax concessions and negative gearing rules amid growing concerns around housing affordability and intergenerational inequality. Treasury projections indicate the budget deficit will narrow more than previously forecast due to stronger commodity-linked revenues, with the fiscal position improving by AUD 44.9 billion compared to earlier estimates. The budget is also expected to include additional defence spending, fuel reserve investments and savings measures linked to welfare reform. The proposals come as Australia faces elevated inflation, rising interest rates and growing pressure on household affordability.Read more

13 May 2026

• New York City’s Rent Guidelines Board has kept open the possibility of a rent freeze for nearly one million rent-stabilized apartments after approving a preliminary rent increase range of 0% to 2% for one-year leases and 0% to 4% for two-year leases.
• The proposal is being viewed as an early test of Mayor Zohran Mamdani’s campaign promise to freeze rents amid rising housing costs and affordability concerns across the city.
• Tenant groups demanded a complete rent freeze or rollback, while landlord bodies including the Real Estate Board of New York argued that rising operating and maintenance costs are putting financial pressure on property owners.Read more

13 May 2026

• Australia’s Labor government is expected to introduce a one-year transition period for proposed changes to capital gains tax discounts and negative gearing rules in the upcoming federal budget.
• The government plans to remove the 50% capital gains tax discount on assets held for over a year from July next year, while allowing temporary relief for investments made after the budget announcement until mid-2027.
• Negative gearing benefits are likely to remain for existing investors under grandfathering provisions, while only newly built homes may qualify for the tax benefit in the future to support housing supply and affordability.Read more

13 May 2026

• Amazon Web Services received approval to move ahead with its Santiago data center project after residents lost an environmental challenge.
• Local residents had opposed the project over concerns related to a possible high-voltage power line and environmental impact.
• AWS said the facility is being designed to minimise energy and water consumption while meeting Chile’s environmental requirements.
• The project is part of AWS’ planned USD 4 billion investment in Chile over the next 15 years.
• Experts said Chile’s growing appeal for data center investments must be balanced with environmental and community concerns.Read more

13 May 2026

• Emaar Development reported sustained demand across its residential developments during the first quarter.
• The company recorded property sales worth AED 20.1 billion in Q1.
• Dubai’s residential market continued to see strong activity from both local and international buyers.
• Demand remained healthy across premium, off-plan and integrated residential communities.
• Market momentum has been supported by investor confidence, population growth and long-term residency initiatives in the UAE.Read more

13 May 2026

• Industrial Logistics Properties Trust said its Mountain JV entered into a USD 1.62 billion mortgage loan agreement secured by 90 industrial and logistics properties, according to an SEC filing.
• The financing transaction is expected to support the joint venture’s capital management and liquidity plans amid continued activity in the industrial real estate sector.
• Demand for logistics and warehousing assets has remained steady globally, driven by e-commerce growth, supply chain expansion and long-term distribution requirements.Read more