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Government Infrastructure Projects Driving Development in Arab GCC Countries

Posted by Alma Kadragic 03/11/10 11:39 AM

(ABU DHABI, UAE) -- Governments across the Gulf Cooperation Council (GCC) countries are keeping construction alive say the organizers of CityBuild, a new trade show for the region's building and construction industry. It takes place from April 18-21 at the Abu Dhabi National Exhibition Centre ... Read More
Mourjan Marinas IGY Signs Deals in Bahrain and Dubai

Posted by Alma Kadragic 03/11/10 10:47 AM

(DUBAI, UAE) -- Taking its success in Dubai and elsewhere to Bahrain, Mourjan Marinas IGY signed a Memorandum of Understanding with Global Real Estate Development Co. (GREDCO) to develop two marinas in the Kingdom of Bahrain. Read More
Emaar Industries and Investments Opens State of the Art Manufacturing Plant

Posted by Alma Kadragic 03/11/10 10:03 AM

(DUBAI, UAE) -- Emaar Industries & Investments (EII) has opened a state-of-the-art manufacturing plant for low voltage and medium voltage switchboards for its subsidiary Dynergy Technologies in TechnoPark, Dubai. Read More
Polish Commercial Real Estate Market on Brink of Recovery in 2010

Posted by Michael Gerrity 03/10/10 2:35 PM

(WARSAW, POLAND) -- The value of transactions closed in the Polish commercial real estate market this year may exceed 2 billion euros, according to new estimates by Cushman & Wakefield, Read More
Earthquake Engineers Headed to Chile to Analyze Construction Methods

Posted by Alex Finkelstein 03/09/10 8:00 AM

(OAKLAND, CA) -- Eager to study how improved construction methods in Chile could help the U.S. manage a major earthquake, Earthquake Engineering Research Institute of Oakland, CA is preparing shortly to leave for South America. Read More
Meyer Bergman Pays $196 Million for 50% Stake in London Mall

Posted by Alex Finkelstein 03/08/10 9:00 AM

(LONDON, ENGLAND) -- Believing the commercial real estate market in London is turning positive again, Meyer Bergman Group has bought a 50 percent stake in a London mall for 130 million pounds ($196 million USD) from Aviva (AV.L), Read More
World's Largest Developers, Investors Target Sochi's 2014 Winter Olympics $12.58 Billion Construction Bonanza

Posted by Michael Gerrity 03/03/10 2:03 PM

(MOSCOW, RUSSIA) -- The Russian oil-rich government is actively seeking investors for the construction of numerous real estate properties in Sochi - the capital of a future Winter Olympic Games 2014. Read More
Distressed Properties Rising Across the Globe as Buyer Interest Soars

Posted by Alex Finkelstein 03/02/10 4:26 PM

Denys Kwan, Hong Kong Realtor Residential, Retail and Office Properties at Top of ListChina Sees Rise for the First TimeUS and Japan Forecast to Have Biggest Increase in First Quarter 2010Next Heaviest Load Will Be Seen in China, Germany and... Read More
Cushman & Wakefield and DTZ Differ on World's Most Expensive Office Market

Posted by Alex Finkelstein 03/01/10 8:00 AM

(NEW YORK, NY) -- In a see-saw contest that changes every six months, depending on who is doing the surveying, Tokyo and London's West End once again are rivals for the questionable distinction of being the world's most expensive Class A office market. Read More
New Saudi Stock Exchange to be Sustainable Building

Posted by Alma Kadragic 02/26/10 10:25 AM

Dr. Fahd Al-Mubarak with Mitsuo Nakamura (DUBAI, UAE) -- A Japanese design and engineering company with an office in Dubai is building the new headquarters of the Saudi Stock Exchange, Tadawul in Arabic. At a cost of $27 million, Tadawul... Read More
Olympics Ski Resort in Middle of $1.4 Billion Foreclosure Fight

Posted by Alex Finkelstein 02/17/10 3:52 PM

(VANCOUVER, BC) -- The ill-fated Winter Olympics, already experiencing the death of an athlete and the embarrassing sloppy surface of its ice rink, now faces possible closure of its highly-touted ski resort at Whistler, BC, just outside of the Olympics main site at Vancouver. Read More
Emaar Announces 2009 Net Profits of $633 Million

Posted by Alma Kadragic 02/16/10 2:47 PM

Burj Khalifa by Emaar Properties (DUBAI, UAE) -- Despite the financial crisis that has hit Dubai hard, Emaar Properties, the emirate's largest developer, announced a net operating profit of $633 million for 2009 after revenues of $2.29 billion. The news... Read More
Cityscape Abu Dhabi to Feature Sustainable Real Estate Model as Dubai Goes Global

Posted by Alma Kadragic 02/16/10 2:39 PM

Chris Speller and Rohan Marwaha (ABU DHABI, UAE) -- Things are looking up for real estate in Abu Dhabi which is currently driving the industry in the UAE after a very bad year for everyone in 2009. But this time... Read More
Online Searches for UK Office and Investment Properties Rise but Retail Interest Sags

Posted by Alex Finkelstein 02/15/10 10:54 AM

Andrew Barber (LONDON, ENGLAND) -- Global investors interested in United Kingdom commercial properties have resumed their online searches to a level it was before Christmas 2009. Office and investment properties lead the search list. Searches for retail assets are down. In its... Read More
Montreal Office and Industrial Markets Down but Starting to Stabilize, Report States

Posted by Alex Finkelstein 02/15/10 10:00 AM

Montreal, Canada (MONTREAL, QUEBEC) -- Montreal central business district and suburban office and industrial markets had a mediocre 2009 but are expected to show improvement in 2010, according to a new report by Newmark Knight Frank Devencore. Canada's largest corporate... Read More
Survey Shows Latin America Tops Global Investment Hot Spots

Posted by Alex Finkelstein 02/12/10 1:50 PM

(LONDON, ENGLAND) -- The hottest turf in the world today for commercial real estate investment is in Latin America. The coolest sites are in the U.S., Mexico and Canada. That's the fourth quarter 2009 assessment from the Royal Institution of Chartered Surveyors in London. Read More
McDonald's Closing 430 Restaurants in Japan Even as Global Sales Rise

Posted by Alex Finkelstein 02/11/10 9:00 AM

Jim Skinner, McDonald's CEO (OAK BROOK, IL) -- McDonald's Japan, a 50-percent-owned affiliate of McDonald's Corp. (NYSE: MCD), will be closing about 430 restaurants over the next 12 to 18 months while the Oak Brook, IL-based fast-food company reviews its... Read More
Abu Dhabi Lands First IKEA Store, Opening Spring 2011

Posted by Michael Gerrity 02/08/10 2:15 PM

(YAS ISLAND, ABU DHABI) -- IKEA UAE, part of Al-Futtaim group announced it expects to serve nearly 1.3 million visitors in the first year of operations when the world's best known furniture and furnishing company opens for business on Yas Island, ... Read More
Record $234 Billion in China Land Sales Keep Real Estate Bubble from Bursting

Posted by Alex Finkelstein 02/05/10 2:27 PM

(BEIJING, CHINA) -- Is China's runaway real estate engine overheating and in danger of shutting down? International watchers monitoring the country's economy think so, citing surging home prices that have prompted the government to crack down on speculation and tighten lending, reports Bloomberg. Read More
GLOBAL RETAIL REAL ESTATE ROUNDUP

Posted by Alex Finkelstein 02/05/10 8:00 AM

(SHANGHAI, CHINA) -- Four prominent Chinese investor groups with strong real estate portfolios are in a bidding war to buy two supermarkets from debt-heavy Australia-owned Global Mart Ltd. for about $73 million (500 million Yuan. One Yuan equates to about 14 ½ cents U.S.). Leading the bidding pack is Fosun Group, ... Read More
GLOBAL REAL ESTATE MARKET ROUNDUP

Posted by Alex Finkelstein 01/29/10 8:00 AM

(LONDON, ENGLAND) -- London has beaten Washington, DC by a wide margin as the world's best real estate investment market today, according to a fourth-quarter 2009 survey by the Association of Foreign Investors in Real Estate. New York City was the No. 3 choice. Read More
Bubble Bursts for India's Once-Booming Real Estate Market

Posted by Alex Finkelstein 01/26/10 8:05 AM

(MUMBAI, INDIA) -- After nearly four years of aggressive growth, India's once-booming real estate market is in a freefall. In an eye-opening analysis, Business Monitor International of Blackfriars, London, and Fast Market Research of Williamstown, MA are reporting ... Read More
Two Realty Firms Expected to Raise Total $362M in New IPOs This Week

Posted by Alex Finkelstein 01/25/10 9:00 AM

(GREENWICH, CT) -- Renaissance Capital, headquartered in Greenwich, CT, expects the following initial public offerings to price during the week of Jan. 25.(IFM) Century 21 China of Beijing, which provides real estate services and franchises the Century 21 brand in... Read More
GLOBAL REALTY CAPITAL MARKET ROUNDUP

Posted by Alex Finkelstein 01/22/10 8:00 AM

(TORONTO, CANADA) -- Avison Young's National Forecast on the international realty capital markets doesn't paint a rosy picture for 2010. The report shows Canadian real estate market fundamentals, "though shaken, remain relatively intact, while U.S. markets continue to ... Read More
GLOBAL REAL ESTATE ROUNDUP

Posted by Alex Finkelstein 01/20/10 8:00 AM

(BEIJING, CHINA) -- China government's drive to build more roads, bridges and related infrastructure in numerous growing metropolitan areas is paying off for China Infrastructure Construction Corp. (OTC BULLETIN BOARD -- CHNC). Read More
Russian Real Estate Investment Activity May Rebound 60% in 2010

Posted by Michael Gerrity 01/18/10 2:21 PM

(MOSCOW, RUSSIA) -- The amount of investments in the European real estate market this year may significantly increase after a record drop registered last year, suggests a new research carried out by analysts of Jones Lang LaSalle Company (JLL), a... Read More
Ibn Battuta Gateway Mixed Use Complex Adds Office Space Near Dubai

Posted by Alma Kadragic 01/18/10 9:00 AM

(DUBAI, U.A.E.) -- Nothing is small in Dubai, and while the new Ibn Battuta Gateway development owned by Seven Tides might not look that big, its entrance is an archway larger than the Arc the Triomphe in Paris. The... Read More
Rents Stable or Slightly Down during Q4 in Abu Dhabi and Dubai

Posted by Alma Kadragic 01/14/10 2:04 PM

Elaine Jones (ABU DHABI, UAE) -- These days the news is better for renters than for landlords of residential and commercial properties in Abu Dhabi and Dubai. According to reports issued this week by Asteco, the largest property services company... Read More
New Records Set at Dubai's Burj Khalifa Tower

Posted by Alma Kadragic 01/06/10 12:49 PM

Highest base jump from Burj Khalifa (DUBAI, UAE) -- Not only is it the world's tallest building at 828 meters (2720 ft), but the Burj Khalifa can't help setting more records two days after it was officially opened on January... Read More
Burj Dubai Renamed Burj Khalifa at Gala Opening

Posted by Alma Kadragic 01/04/10 1:34 PM

(DUBAI, U.A.E.) -- The Burj Dubai was renamed Burj Khalifa tonight at the gala ceremony marking the official opening of the world's tallest building. Sheikh Mohammed Bin Rashid Al Maktoum, Ruler of Dubai and Vice President and Prime Minister of the UAE, Read More
First Armani Hotel Opens March 18 in Burj Dubai

Posted by Alma Kadragic 01/04/10 10:19 AM

Burj Dubai by Emaar Properties (DUBAI, U.A.E.) -- On the opening day of the Burj Dubai, a spokesman announced that the Armani Hotel Dubai, the first hotel created by the collaboration between Giorgio Armani and Emaar Properties, will be launched... Read More
Burj Dubai, World's Tallest Building Opens Today

Posted by Alma Kadragic 01/04/10 10:00 AM

(DUBAI, U.A.E.) -- Six years ago, in January 2004, Dubai told the world that it would build the world's tallest building and announced what it called "History Rising." Today the Burj Dubai stands complete, 160 floors, and more than 800 meters high. Read More
GLOBAL REAL ESTATE ROUNDUP

Posted by Alex Finkelstein 12/30/09 8:00 AM

(STOCKHOLM, SWEDEN) -- Repeat customers are proving to be valuable assets in a lukewarm construction industry these days, as Skanska USA Building has found out. Read More
Burj Dubai Ready to Set Records

Posted by Alma Kadragic 12/24/09 9:33 AM

Burj Dubai by numbers (DUBAI, U.A.E.) -- No one knows how long the records will last, but with ten days left to the opening of the world's tallest building, the publicity machine is grinding out the numbers that define Burj... Read More
Leading Dubai Developer Calls 2009 a 'Horrible Year' and Looks ahead to 2010

Posted by Alma Kadragic 12/24/09 9:25 AM

Mohammed Nimer (DUBAI, U.A.E.) -- Now that 2009 is close to becoming history, leading business people are looking back at what happened. That's what Mohammed Nimer, CEO of MAG Group Property Development in Dubai, has been doing using the Latin... Read More
DEAL OF THE WEEK

Posted by Alex Finkelstein 12/24/09 8:45 AM

Juan Dolio Beach, Dominican Republic Billion-Dollar Costa Bianca Resort in Dominican Republic Gets $20M Construction Loan.45 of the 52 multi-million-dollar Villas already sold at pre-construction prices.Golf and Beach Community spans 580 acres along Juan Dolio Beach coastline.Group Metro, the developer,... Read More
Meeting of Dubai World with Bankers May Lead to Moratorium Proposal in Early January

Posted by Alma Kadragic 12/22/09 10:35 AM

(DUBAI, U.A.E.) -- None of the more than 200 bankers who attended the meeting of Dubai World with its 90 creditor banks yesterday at the Dubai World Trade Center would speak on the record, but one report cited three bankers... Read More
Green Landscaping Ready for Burj Dubai Launch

Posted by Alma Kadragic 12/21/09 1:09 PM

(DUBAI, U.A.E.) -- Landscaping around the Burj Dubai, the world's tallest building, is ready with the building due to open on January 4, 2010. The 800-meter Burj is surrounded by 11 hectares called The Park that includes fountains, ... Read More
DUBAI UPDATE: Abu Dhabi Throws Dubai $10B Lifeline

Posted by Alex Finkelstein 12/14/09 1:25 PM

(ABU DHABI, U.A.E.) -- True to its word, Abu Dhabi has proven itself to be a good neighbor of Dubai, handing the emirate a $10 billion loan to help fend off creditors seeking repayment on a total $56 billion of unpayable debt. Read More
London Replaces Tokyo as World's Most Expensive Office Market

Posted by Alex Finkelstein 12/04/09 1:41 PM

(LOS ANGELES, CA) -- If you are only looking for a 10 x 10 cubicle-size office in London's trendy West End district, it's going to cost you rent of $18,485 per year. That's $184.85 per square foot. Read More
DUBAI: From Boom to Bust in 4 Years

Posted by Alex Finkelstein 12/02/09 9:00 AM

(DUBAI, U.A.E.) -- Silent for almost a week, the controversial Dubai World organization announced Tuesday (Dec. 1) it will seek new financing for $26 billion of its total $59 billion debt load. But the Dubai emirate itself will not guarantee the new funding. Read More
Party Over For Now in Dubai, Global Analysts Agree

Posted by Alex Finkelstein 11/27/09 1:30 PM

(DUBAI, UAE) -- Dubai World's $80 billion in debt announced Wednesday has gotten the attention of world financial markets but hasn't shaken the global real estate world. A clearer picture of the United Arab Emirates company is expected to surface next week ... Read More
DEAL OF THE WEEK

Posted by Alex Finkelstein 11/27/09 9:00 AM

Macao Casino Entrepreneur Adelson Raises $2.4B in Hong Kong IPOSheldon Adelson (COTAI STRIP, MACAO, CHINA) -- Casino-hotel entrepreneur Sheldon Adelson has raised $2.4 billion in a Hong Kong initial public offering. Adelson's Sands China Ltd. operation filed the information with... Read More
Surveyors Find Global Commercial Real Estate Investors' Fears Easing but Not Gone

Posted by Alex Finkelstein 11/09/09 2:18 PM

(NEW YORK, NY) -- The third-quarter survey released today by New York-based Royal Institution of Chartered Surveyors finds investors' fears on global commercial real estate markets are easing but not gone all together. Read More
DEAL OF THE WEEK

Posted by Alex Finkelstein 11/02/09 8:30 AM

Toronto high-Tech data center sold for $553.84 per square footAllied Properties REIT pays $180 million for eight-story propertySeller Northam Realty Advisors doubles its original purchase Deal is second-largest in Canada this yearConstruction cost of new data centers pegged at $1,300... Read More
Debt-Loaded Dubai Banking on Rising Oil Prices to Re-Fuel Real Estate Blitz

Posted by Alex Finkelstein 10/27/09 2:45 PM

(DUBAI, U.A.E.) -- Like a Las Vegas gambler who seldom admits failure, Dubai government officials are trekking to London and Frankfurt in the next several weeks to raise the second $10 billion in a $20 billion bond program launched in February of this year. Read More
REALTY CAPITAL ROUNDUP

Posted by Alex Finkelstein 10/26/09 8:00 AM

(SYDNEY, AUSTRALIA) -- CNL Financial Group, a 36-year-old, privately-held Orlando, FL real estate and development company, is joint-venturing with Sydney, Australia-based Macquarie Group to form CNL Macquarie Global Growth Trust which has launched a $1.5 billion intial public offering. Read More
Evergrande Group Catches Eye of China's Billionaire Investors

Posted by Alex Finkelstein 10/23/09 9:30 AM

(BEIJING, CHINA) -- It's not unlike the Monopoly party game - only the stakes are larger, much larger.Li Ka Shing Li Ka Shing, Zheng Yutong, Luan Xiong and Xu Jiayn, names that are largely unknown to the U.S. real estate... Read More
European Investors Group Predicts Global Property Markets Won't Heal for Another 5 Years

Posted by Alex Finkelstein 10/19/09 11:10 AM

(AMSTERDAM, THE NETHERLANDS) -- A 320-member association of European corporate investors and fund managers believes the global property market has another five years to go before it returns to a normal level.The association is called INREV. It is little known... Read More
GLOBAL REALTY CAPITAL ROUNDUP

Posted by Alex Finkelstein 10/16/09 9:00 AM

(NEW YORK CITY, NY) -- Manhattan entrepreneur Barry Sternlicht tells Reuters he is considering purchasing the troubled assets of an undisclosed major Midwest bank with national branches. Read More
GLOBAL REALTY CAPITAL ROUNDUP

Posted by Alex Finkelstein 10/12/09 2:07 PM

(ISTANBUL, TURKEY) -- Federal Deposit Insurance Corp. chairwoman Sheila Blair wants to end the government's practice of bailing out financial institutions that are too big to fail. Read More
Abu Dhabi's TDIC Reports on Thirteen Key UAE Projects at Dubai Cityscape Event

Posted by Michael Gerrity 10/09/09 9:47 AM

(News Source: TDIC)Saadiyat Island, Abu Dhabi, UAE (ABU DHABI, U.A.E.) -- Tourism Development & Investment Company (TDIC), a master developer of cultural, residential, and tourism destinations in Abu Dhabi, has published a comprehensive Progress Delivery Report providing an overview of... Read More
Major Israeli Developer Partners With New York's Joe Cayre to Buy Trophy Broadway Tower

Posted by Alex Finkelstein 10/08/09 9:30 AM

452 Fifth Avenue Tower (NEW YORK, NY) -- Big deals are starting to sprout in the nation's commercial real estate markets with cash as king.Israel-based IDB Group, the largest holding company in Israel, and its New York-based Partner Joseph J.... Read More
Pru Expands International Reach in the U.K. and Japan

Posted by Alex Finkelstein 09/23/09 8:00 AM

(LONDON, UK) -- Newark, NJ-based Prudential Real Estate Investors and Prudential Mortgage Capital are preparing for new business opportunities in the United Kingdom and Japan.PREI has hired a team of professionals to expand its commercial real estate platform in the... Read More
2 British Private Equity Firms Launch $261M Property Acquisition Fund

Posted by Alex Finkelstein 09/07/09 4:50 PM

(LONDON, UK) -- United Kingdom entrepreneurs Alex Price and Rob Bould are so sure of a near-future turnaround in the British commercial real estate markets they and their associates are putting their own money into a newly launched $261 million... Read More
Dubai Holding Merges Property Firms in Run up to Merger with Emaar

Posted by Alma Kadragic 08/24/09 9:15 AM

(DUBAI, U.A.E.) -- During the recent fat years before the worldwide economic slump, Dubai Holding created two property companies, Dubai Properties and Sama Dubai, as well as real estate units in Tatweer, a diversified company that is also part of... Read More
Bahrain Bank Joint Ventures With UK Investor in $322M Student Housing Project in London

Posted by Alex Finkelstein 08/17/09 9:15 AM

(MANAMA, BAHRAIN) -- Major property deals and joint ventures are breaking out global-wide this quarter.Bahrain-based Oasis Capital Bank (B.S.C. (c). (OCB) has formed a five-year joint venture with UK-based Unite Group Plc to develop three student housing properties in London... Read More
Canadian Pension Adviser Joint Ventures With Brazilian Investor and Singapore government on Potential $250M Property Acquisition Pool

Posted by Alex Finkelstein 08/17/09 8:45 AM

(TORONTO, CANADA) -- Canadians see gold in Brazil.The CPP Investment Board (CPPIB), Canada's leading pension adviser, says it will invest up to $250 million in a joint venture with a Brazilian company to develop, acquire and management institutional-quality commercial properties... Read More
Investors Returning to British Commercial Real Estate Markets

Posted by Alex Finkelstein 08/04/09 1:00 PM

(LONDON, UK) -- After sitting on the sidelines for two years, investors are stepping back into Britain's battered commercial real estate markets, according to various industry sources. Read More
Saudi Arabia's Construction Market Building from Strength Says New Report

Posted by Alma Kadragic 08/03/09 10:32 AM

(DUBAI, UAE) -- Saudi Arabia's construction market is handling the economic downturn better than its neighbours in the Middle East, according to a report issued Sunday by Proleads Global, a research company. Insights Saudi Arabia: An Investigation into the Current... Read More
U.S. Developer Breaks Ground on Biggest Cold-Storage Warehouse in China

Posted by Alex Finkelstein 07/31/09 12:00 PM

(SHANGHAI, CHINA) -- In the first U.S.-China cold storage development of its kind, New Jersey-based Preferred Freezer Services broke ground today on a multi-million-dollar, 280,000-square facility at Lingang Logistics Park in Shanghai.After construction, the refrigerated warehouse will be the largest... Read More
Moody's and S&P's Downgrading of Emaar's Credit Not Expected to Stop $52.8 Billion Dubai Mega-Merger

Posted by Alex Finkelstein 07/30/09 11:40 AM

(DUBAI, U.A.E.) -- Emaar Properties in Dubai, like AIG International in New York, is just too big to fail, according to global analysts familiar with ... Read More
Dubai Needs to Get Back to Basics Says Veteran Developer

Posted by Alma Kadragic 07/30/09 10:34 AM

(DUBAI, U.A.E.) -- In tough times, some people advise dramatic remedies. Others retreat and wait. One of Dubai's leading developers has another solution. "Dubai must return to the basics which first put it on the map," says Mohammed Nimer, CEO... Read More
Study Shows UAE Construction Stays Active Despite Global Slowdown

Posted by Alma Kadragic 07/29/09 1:30 PM

(DUBAI, U.A.E.) -- Construction in Dubai is continuing despite the global slowdown with more than 750 active projects and 450 that were recently completed, according to a new report released by Proleads Global, a research company based in Dubai. ... Read More
Downtown Jebel Ali Development Looking Good as Banks Sign On

Posted by Alma Kadragic 07/29/09 1:00 PM

(DUBAI, U.A.E.) -- As Dubai expands to the south and Abu Dhabi to the north, one of the places in between is Jebel Ali, site of a huge free trade zone and the future largest airport in the world. Read More
Toronto Realtors Report Strong June Sales

Posted by Alex Finkelstein 07/27/09 8:00 AM

(TORONTO, CANADA) -- Good news from across the northern border in the past week - but plenty of cautionary flags remain. The good news: The Toronto Real Estate Board reported a strong June, with 10,955 in sales, leading many Canadians to believe the economy is taking a turn for the better. Read More
Saudi Arabia Real Estate Capital Markets Consider Creating Fannie Mae Model

Posted by Alex Finkelstein 07/14/09 4:05 PM

(RIYADH, SAUDI ARABIA) -- A new dawn may be breaking over Saudi Arabia's long-established real estate financial markets. Leaders in the country's capital markets are considering creating a model after Fannie Mae to help the housing industry.For starters, Saudi Arabia's... Read More
CBRE Releases Global Retail Report, New York City Still Most Expensive Market

Posted by Michael Gerrity 06/30/09 2:39 PM

(LOS ANGELES, CA) -- Despite prime retail rents that have fallen in almost every region worldwide as the global recession impacts consumer sentiment and retail sales, New York City remains the world's most expensive retail destination, ... Read More
Blackstone Eyes Fresh European Commercial Real Estate Acquisitions with $4.3B War Chest

Posted by Alex Finkelstein 06/30/09 12:01 PM

(LONDON, UK) -- Cash is king and no one knows it better than international real estate giant Blackstone Group.The New York City-based conglomerate says it has raised 3.1 billion euros ($4.3 billion U.S.) for a fund to invest in property... Read More
Tim Hortons Repeats as Top Canadian Restaurant Chain, Ahead of McDonald's and Subway

Posted by Alex Finkelstein 06/26/09 2:02 PM

(CHICAGO, IL) -- Tim Hortons (NYSE and TSX (THI), founded by the late National Hockey League star defenceman Tim Horton in 1964, once again is ranked as the top fast-food restaurant chain, ahead of U.S.-based McDonald's and Subway.Tim Hortons posted... Read More
L.A. Firm Wins Design Contract for $2B Underground High-Speed Rail Terminus in Hong Kong

Posted by Alex Finkelstein 06/18/09 8:00 AM

(LOS ANGELES, CA) -- Hong Kong development leaders are marking 2015 on their Grand Openings calendar.That's the date the world's largest underground, high-speed rail terminus is scheduled to be completed and connect Hong Kong to the high-speed rail network in... Read More
France-based Accor Grows Ibis Hotel Brand in China

Posted by Alex Finkelstein 06/16/09 4:40 PM

(EVRY, France) -- Recession or not, China is getting more hotels.Accor, a 42-year-old lodging corporation based in Evry, France, has signed 10 new Ibis hotels in China, growing the Ibis network to 26 hotels and 5,348 rooms. Nineteen more Ibis... Read More
KFC Plans to Open 300 Outlets in China in 2009; McDonald's About 150

Posted by Alex Finkelstein 06/16/09 4:29 PM

(DUBLIN, IRELAND) -- Is there a Recession in China's American-style, fast-food industry? You can't prove it by the expansion plans of KFC and McDonald's.The Kentucky Colonel and the Golden Arches, long-established icons in China's growing fast-food industry, plan to grow... Read More
StratREAL Advises on Commercial Property Purchase in London's West End

Posted by Michael Gerrity 06/08/09 12:40 PM

(LONDON, UK) -- Strategic Real Estate Advisors (StratREAL) has acted as real estate investment advisor and asset manager on behalf of a private client in the acquisition of a fully leased commercial property ... Read More
Why London Property Is Now a Good Bet for UHNW Investors

Posted by Michael Gerrity 06/04/09 12:20 PM

(LONDON, UK) -- Strategic Real Estate Advisors Limited (StratREAL), which provides real estate investment advisory and asset management services to both institutional and rich private investors, Read More
Tokyo Overtakes London's West End as Most Expensive Office Market in the World

Posted by Alex Finkelstein 06/03/09 11:22 AM

(TOKYO, JAPAN) -- It's official: Tokyo is the most expensive office market in the world. The Japanese city's Inner Central District replaced London's West End at the top of the tony list. Moscow is the third most expense followed by ... Read More
Ruby Tuesday Grows Casual-Dining Niche in Middle East

Posted by Alex Finkelstein 06/03/09 10:30 AM

(MARYVILLE, TN) -- Casual diners in the United Arab Emirates are in love with Ruby Tuesday. The 37-year-old Tennessee-based chain of 900 restaurants worldwide is continuing its aggressive growth in the Middle East by awarding six new franchise development rights... Read More
Is Hong Kong Real Estate Investment Activity Hot or Cold?

Posted by Alex Finkelstein 05/27/09 2:07 PM

(HONG KONG) -- How active is Hong Kong's commercial real estate investment market? The answer depends on who you are reading at the moment. For example, The Wall Street Journal reports Hong Kong is being flooded with money ... Read More
Arab-Owned Nakheel Gets $544M Bailout as Developer and Affiliates Face $19B Debt Due in 2010

Posted by Alex Finkelstein 05/11/09 5:15 PM

(DUBAI, U.A.E.) -- Even the rich need a handout - preferably filled with green - now and then. Read More
AIG Sells Prime Downtown Tokyo Site for $1.2B as It Winds Down Real Estate Portfolio

Posted by Alex Finkelstein 05/11/09 4:35 PM

(TOKYO, JAPAN) -- In the biggest commercial real estate deal of its kind this year, American International Group (AIG) today contracted with Nippon Life Insurance Co. to sell its 35-year-old, 15-story, 404,294-square-foot AIG Otemachi Office Building located on the most... Read More
NCR Acquisition Makes it North America's Largest DVD Kiosk Operator

Posted by Alex Finkelstein 04/22/09 12:29 PM

(DAYTON, OH) -- NCR Corp., a global technology provider in the retail, financial, travel, healthcare, hospitality, entertainment, gaming and public sectors, has purchased Read More
Abu Dhabi Projects Win Cityscape Awards for Real Estate in the Middle East

Posted by Alma Kadragic 04/20/09 3:50 PM

(ABU DHABI, U.A.E.) -- Architectural excellence and energy efficiency were rewarded last night as the Abu Dhabi Capital City District and Masdar City won Cityscape Awards for Real Estate in the Middle East.Winners of Cityscape Awards for Real Estate in... Read More
UAE Prime Minister Sheikh Mohammed bin Rashid Al Maktoum Briefed on Top Projects at Cityscape

Posted by Alma Kadragic 04/20/09 3:40 PM

(ABU DHABI, U.A.E.) -- The UAE's Prime Minister, Sheikh Mohammed bin Rashid Al Maktoum, got an advance look at major projects from companies exhibiting at Cityscape Abu Dhabi today. The biggest number of exhibitors are from Abu Dhabi emirate, but... Read More
12 Banks Loan Kimco $220M; Lenders One Extends Contract With Fannie Mae

Posted by Alex Finkelstein 04/20/09 11:44 AM

(NEW HYDE PARK, NY) -- A consortium of 12 banks, each providing between $5 million to $40 million, has provided a new $220 million, two-year unsecured term loan to Kimco Realty Corp.The loan, which bears interest at an annual rate... Read More
Abu Dhabi Unveils Plan for Capital District at Cityscape

Posted by Alma Kadragic 04/20/09 8:00 AM

(ABU DHABI, U.A.E.) -- Cityscape Abu Dhabi opened this morning with a visit by Sheikh Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces. He was briefed on the massive... Read More
Cityscape Abu Dhabi Opens Tomorrow

Posted by Alma Kadragic 04/18/09 10:51 PM

(ABU DHABI. U.A.E.) -- Despite the global economic problems, Cityscape Abu Dhabi opens Sunday bigger than a year ago and better according to the organizers. Exhibition space at the Abu Dhabi National Exhibition Center has increased by more than 30... Read More
Starbucks Opens First Store in Poland in Push to Reach Growing Central and Eastern European Markets

Posted by Alex Finkelstein 04/08/09 2:24 PM

(WARSAW, POLAND) -- Ignoring its fallen stock price, earnings dip and its own recent layoffs in the U.S., South Seattle, WA-based Starbucks Coffee Co. today opened its first store in Poland.The store's developers are Starbucks Coffee International, Inc., a wholly-owned... Read More
Zell Sells Off Small Stake in Brazil's Largest Shopping Mall Company

Posted by Alex Finkelstein 04/03/09 1:02 PM

(RIO DE JANEIRO, Brazil) -- Chicago real estate and media entrepreneur Sam Zell announced today his Equity International firm has sold less than 10 percent of its stake in Rio de Janeiro-based BR Malls, the largest shopping mall company in... Read More
Etihad Airlines Wins Best Business Class Award

Posted by Alma Kadragic 04/02/09 4:22 PM

(ABU DHABI, U.A.E.) -- Etihad Airways jumped four places to win the 2009 award for the best business class in the world. Last year the airline placed fifth. The award was the result of votes cast by 16 million air... Read More
Pennsylvania Contractor Wins $54M Federal Design-Build Job for American Institute in Taiwan

Posted by Alex Finkelstein 04/01/09 4:09 PM

(WEST CHESTER, PA) -- Weston Solutions, Inc., a 50-year-old global contractor with 1,800 employees in 60 worldwide offices, has won a $54.4 million design-build contract with the U.S. Department of State, Overseas Building Operations, for the first phase of a... Read More
China's economy holding up well despite major hit from global financial crisis, says World Bank

Posted by Michael Gerrity 03/18/09 10:13 PM

(BEIJING, CHINA) -- While China's real economy has been hit hard by the global crisis, it is still holding up, according to the World Bank's latest China Quarterly Update released yesterday. Read More
KidZania Readies for Opening at Dubai Mall; Offering Role-play Edu-tainment for Children

Posted by Michael Gerrity 03/18/09 2:06 PM

(DUBAI, U.A.E.) -- Children can soon experience their ambition to become anything from pilots to fashion models to doctors or bankers, Read More
Five Abu Dhabi Developers Join for $10 Billion Project in Jordan

Posted by Alma Kadragic 02/27/09 1:53 PM

(ABU DHABI, U.A.E.) -- Five Abu Dhabi developers have teamed up to invest $10 billion in a waterfront project in Aqaba, Jordan. It will be the largest tourism and real estate project in the history of the country.Named Marsa Zayed... Read More
Abu Dhabi to Show Off Culture and Sustainability at Cityscape, April 19-22

Posted by Alma Kadragic 02/27/09 12:53 PM

(ABU DHABI, U.A.E.) -- While many of the world's real estate projects are frozen as the credit crisis unfolds, there are places where development continues. Abu Dhabi, the capital of the United Arab Emirates, has bet at least some of... Read More
Hard-Hit Sovereign Wealth Funds Avoid Further Bank Bailouts but Expect to Re-Enter Market by Year End

Posted by Alex Finkelstein 02/16/09 2:45 PM

(LONDON, UK) -- There is good news, bad news and just fair news today on when the U.S. economy might begin to turn around - and it isn't coming from 1600 Pennsylvania Avenue. Read More
Kuwait and Singapore Sovereign Wealth Funds Take a Hit

Posted by Alex Finkelstein 02/11/09 2:18 PM

(KUWAIT CITY, KUWAIT)--The Voice of America today is reporting two of the world's largest sovereign wealth funds have lost an estimated total $116 billion in value. The funds' chiefs, however, dismiss the losses and call the value drop small. Singapore... Read More
Monorail Opens Route from First to Last Stations on Dubai's Palm Jumeirah

Posted by Alma Kadragic 01/27/09 10:21 AM

(DUBAI, UAE) -- It won't open officially until April this year but last week VIPs from Nakheel and Dubai's Road Transport Authority (RTA) took the first ride on the long awaited monorail that will serve people living or vacationing on... Read More
IATA reiterates its environmental commitment even in times of crisis

Posted by Michael Gerrity 01/16/09 11:50 AM

(ROME, Italy) -- The International Air Transport Association (IATA) highlighted aviation's commitment to its environmental responsibility at the inauguration of its aviation and environment display at Rome's Fiumicino Airport. Read More
IATA Welcomes U.K. Government Decision on Third Runway

Posted by Michael Gerrity 01/16/09 11:44 AM

(Geneva, UK) -- Following the announcement of the U.K. Government decision to add a third runway at London Heathrow, International Air Transport Association Director General and CEO Giovanni Bisignani issued a statement. Read More
First Corporate Jet Airport in Middle East Opens

Posted by Alma Kadragic 11/29/08 2:57 PM

(ABU DHABI, UAE) - The new City Airport, Abu Dhabi is the first private jet airport in the Middle East and North Africa. Situated at the former Al Bateen Airbase, City Airport is five kilometers from the central business district... Read More
Abu Dhabi Airport Increases Passengers by 33%

Posted by Alma Kadragic 11/25/08 6:25 PM

(ABU DHABI, UAE) - While air travel has slowed down in much of the world, passenger numbers at Abu Dhabi International Airport are up 32.8 percent in 2008. At this rate, more than nine million people will have traveled to,... Read More
QE2's Last Voyage to New Life as a Hotel

Posted by Alma Kadragic 11/25/08 6:03 PM

(DUBAI, UAE) - Perhaps the most famous ocean liner in the world is on her way to a permanent home at Palm Jumeirah, one of Dubai's famous artificial islands, to begin a new life as an ultra luxury hotel. When... Read More
Emaar Chairman Stays Bullish on Dubai Property

Posted by Alma Kadragic 11/11/08 9:24 PM

(DUBAI, UAE) - Mohamed Alabbar, CEO of Emaar Properties, used his platform as co-chairman of a prestigious summit of global financial leaders over the weekend to express confidence in the economic soundness of Dubai and real estate in Dubai. Mohamed... Read More
Emaar Gives Mortgage Payers More Time

Posted by Alma Kadragic 11/07/08 10:07 AM

(DUBAI, UAE) - Even in the UAE where the world crisis in liquidity has been answered by sizable injections of money into the banking systems, some are feeling a pinch in available credit that they haven't experienced during the past... Read More
Economic Slowdown May Affect Dubai Mall

Posted by Alma Kadragic 11/07/08 9:37 AM

(DUBAI, UAE) - Today is the beginning of weekend sales at Dubai Mall, so crowds are expected to fill the stores and food outlets ready to serve customers. In the UAE, the weekend is Friday and Saturday with Friday roughly... Read More
Emaar Announces Slowdown in Saudi Arabian Flagship Project due to Tight Credit

Posted by Alma Kadragic 11/01/08 5:45 PM

(SAUDI ARABIA) - In a report published by London-based MEED (Middle East Economic Digest) magazine late yesterday, an Emaar official said that because of a shortage of credit in Saudi Arabia, work on King Abdullah Economic City is being delayed.... Read More
Eco Towers Project Launch: First Platinum Rated Building in Middle East

Posted by Alma Kadragic 10/29/08 4:22 PM

(ABU DHABI, UAE) - Today's launch of the dual Eco Towers demonstrates a new level of concern about the environment in the Middle East and continuing faith in the economy of Abu Dhabi at a time when real estate investment... Read More
Dubai Mall Opening Postponed Again: New Date is November 4

Posted by Alma Kadragic 10/29/08 2:59 PM

(DUBAI, UAE) - The opening of Dubai Mall, the largest shopping center in the Middle East, has been postponed again because traffic systems, telephones, and some stores are not ready. The original opening date of August 28 was pushed back... Read More
World's Largest Mall Opens in Dubai Thursday

Posted by Alma Kadragic 10/24/08 1:38 PM

(DUBAI, UAE) - Dubai Mall's12 million sq ft of shopping includes more than 1200 stores and 120 food and beverage outlets, an Olympic size ice rink, the Aquarium and Discovery Center, the world's largest indoor gold market or souk, 22 cinemas, a SEGA Republic videogame center, and KidZania, a children's edu-tainment facility. Read More
Support for Foreign Investment in Our Real Estate Market

Posted by Robert Knakal 09/08/08 10:11 PM

(NEW YORK, NY) - A low US dollar does indeed have some benefits to our real estate market. Read More