13 Mar 2026

Citigroup and Standard Chartered have begun evacuating staff from their Dubai offices and shifting operations to remote work following escalating geopolitical tensions in the Middle East. Citigroup instructed employees to vacate its offices in the Dubai International Financial Centre (DIFC) and Oud Metha and work from home until further notice, according to an internal memo. HSBC has also closed all its branches in Qatar to safeguard staff and customers. The precautionary measures follow threats by Iranian military authorities to target economic and banking interests linked to the United States and Israel in the Gulf region after an attack on an Iranian bank in Tehran. The developments have heightened concerns about regional security and raised questions over Dubai's positioning as a stable financial hub for international banks and global financial institutions.Read more

13 Mar 2026

A family trust established for Austrian property developer Rene Benko has filed for insolvency after being ordered to pay about USD 1 billion to companies linked to Abu Dhabi sovereign wealth fund Mubadala. The insolvency filing by the Laura Private Foundation follows arbitration rulings issued earlier this year by the International Court of Arbitration in Switzerland, which directed the trust to settle claims worth about EUR 900 million. The development comes amid the broader collapse of Benko's Signa property group, once one of Europe's largest real estate conglomerates with holdings including luxury hotels in Venice and Vienna and stakes in retail chains such as Selfridges and Globus. Benko, who was arrested about a year ago, has been convicted in separate insolvency-related fraud cases and is currently appealing the rulings.Read more

13 Mar 2026

A unit of TALAAT MOUSTAFA GROUP HOLDING has joined efforts to establish a real estate investment fund valued at EGP 8 billion. The fund's ownership is split, with CI Capital holding approximately 51% and the Arab Company for Projects and Urban Development owning around 49%. This move marks a strategic step for TMG's unit to expand its presence in the real estate investment sector. The initiative aims to pool resources for development projects and create structured investment opportunities in Egypt's growing property market.Read more

12 Mar 2026

Utopia Real Estate Investment and Tourism has declared a full-year dividend of EGP 2 per share, reflecting its steady financial performance over the past year. The announcement underscores the company's commitment to rewarding its shareholders and maintaining a consistent return on investment. Utopia Real Estate has been actively involved in real estate development and tourism projects, and this dividend follows a period of strategic growth and portfolio management. The payout strengthens investor confidence and highlights the firm's focus on sustainable financial practices.Read more

12 Mar 2026

Swedish Logistic Property AB has announced plans to build a 23,300 sqm extension at its Ronnedal 1 property in Ulricehamn. The company has also secured a lease extension for the entire property by 10 years, effective from August 1, 2027. Upon completion of the expansion, an additional purchase price of SEK 117 million will be payable. This move strengthens the company's logistics footprint in the region and reflects its commitment to long-term operations and strategic asset development, aligning with past growth initiatives in Sweden.Read more

12 Mar 2026

View United Real Estate Development reported a net profit of 21.6 million Riyals for the full year, alongside total sales of 95.3 million Riyals. The company maintained steady performance despite a challenging market environment. Analysts note that the results reflect disciplined cost management and a focus on sustainable growth. This financial outcome aligns with the company's ongoing strategy to strengthen its real estate portfolio while optimizing revenue streams. The figures indicate resilience in operations and a stable outlook for future periods.Read more

12 Mar 2026

Swedish construction firm Skanska has secured a USD 102 million contract from the Port of Los Angeles to build the Avalon Pedestrian Bridge and Promenade Gateway, a project that will convert 12 acres of former industrial land into public spaces. The scope includes a cable stayed pedestrian bridge over active rail lines, landscaped plazas, terraces and pathways that will link with the recently finished Wilmington Waterfront Promenade. Work on the site began this March and is scheduled to run through mid 2028, extending public access and supporting waterfront redevelopment. The contract is part of Skanska's first quarter U.S. order bookings.Read more

12 Mar 2026

China is planning to expand and strengthen highway infrastructure in border regions close to India under its upcoming 15th Five-Year Plan. The draft proposal includes construction of a 394 km highway in the Xinjiang Uygur Autonomous Region to improve connectivity between the northern and southern sides of the Tianshan Mountains. The planned route will run parallel to a strategic road passing through the disputed Aksai Chin region. The broader plan also includes upgrading three existing highways connected to Tibet and continuing work on the Dushanzi Kuqa highway project, which is expected to be completed in 2032.Read more

11 Mar 2026

A federal jury in Manhattan has convicted brothers Oren Alexander, Tal Alexander and Alon Alexander in a high-profile sex trafficking case involving allegations that women were lured to exclusive parties and sexually abused. Prosecutors argued that the brothers used a pattern of manipulation to isolate and assault victims, while the defense maintained the encounters were consensual. The case followed a months-long trial during which 11 women testified about abuse. Oren and Tal Alexander, known figures in New York's luxury real estate brokerage industry and co-founders of Official, now face sentencing while their legal teams consider an appeal.Read more

11 Mar 2026

Existing home sales in the United States rose unexpectedly in February as declining mortgage rates and slower house-price growth encouraged buyers to return to the market. According to the National Association of Realtors, sales increased 1.7% month-on-month to a seasonally adjusted annual rate of 4.09 million units, surpassing economists' expectations of a decline. However, the market continues to face supply constraints, with inventory remaining below pre-pandemic levels despite a modest rise. The median existing home price increased 0.3% year-on-year to USD 398,000, while housing supply rose to 1.29 million units. Analysts suggest that although improving affordability and easing borrowing costs have supported demand, limited housing inventory could restrict sales momentum during the spring home-buying season.Read more