A massive fire in the Saganoseki district of Oita city in southern Japan destroyed more than 170 buildings and continued burning through the night. Over 175 residents moved to an emergency shelter after the fire began in the early evening earlier this week. One person remains missing, and officials have started an investigation into the cause. Aerial images showed homes reduced to debris, smoke across the hillside, and flames spreading toward nearby forested areas. Local authorities requested support, leading to the deployment of a military firefighting helicopter.Read more

Arada, the UAE-based real estate developer backed by Gulf royals, has decided to acquire an 80% stake in the Thameside West mixed-use project in east London. The deal follows the launch of the company's UK operations a few months ago and marks a major expansion of its international portfolio. The development, valued at 2.5 billion pounds (about USD 3.29 billion), is planned to deliver at least 5,000 homes, with the first phase targeting around 1,000 units and construction planned for 2027. This acquisition also lifts Arada's London housing pipeline to 15,000 homes.Read more

Rightmove is facing a potential legal claim worth about GBP 1 billion (USD 1.34 billion) from estate agents who argue that the portal has been charging excessive and unfair listing fees. The action is being led by Jeremy Newman, a former member of the UK antitrust watchdog, and aims to represent thousands of agents unless they opt out. The development follows a recent drop in Rightmove's share price after it signalled slower profit growth next year due to increased investments, including those in artificial intelligence. Market uncertainty, inflation pressures, and an upcoming tax-focused government budget continue to weigh on the UK property sector.Read more

New Zealand's housing market recorded a slight rise in home prices during October, indicating that conditions have begun to stabilise after an uneven past year. Fresh data from the Real Estate Institute of New Zealand (REINZ) showed a small month-on-month increase in the seasonally adjusted median price, even though values were still lower compared with the same period last year. National sales activity picked up as well, supported by stronger buyer sentiment and the usual lift seen during the spring period. REINZ noted that most regions reflected an improvement in activity and overall confidence.Read more

Hong Kong-based developer New World Development has announced plans to reduce about USD 1.3 billion of its debt following an early settlement deadline in its bond exchange offer. The company is swapping a portion of its perpetual bonds and senior notes targeting USD 1.02 billion of perpetuals and USD 29.9 million of senior notes to improve liquidity and avert defaults amid a tough property market. Earlier this year it deferred coupon payments and secured refinancing of over USD 12 billion to shore up its finances. The exchange offer closes on December 2.Read more

Praxis Home Retail recorded a net profit of INR 81 crore in the September quarter, showing a clear improvement after reporting losses in the same period last year and in the previous quarter. The company attributed this recovery to restructuring measures and higher operational efficiency. Praxis also became fully debt-free after receiving a complete waiver of all outstanding dues at the start of FY 2025-26, marking a major step in stabilising its financial position. The firm has also undergone a governance reset, now operating under new management and new shareholders committed to improved oversight.Read more

A renewed debate in the United States examined whether a 50-year mortgage could ease homeownership pressures or create new financial risks. The idea re-emerged as households faced inflation, rising costs and delayed life decisions, with 71% of aspiring buyers postponing major plans, according to Coldwell Banker's 2025 American Dream Report. A 50-year loan on USD 400,000 would lower monthly payments by about USD 270 compared with a 30-year mortgage, but total interest would nearly double. Experts warned that borrowers would build equity far more slowly and could remain financially exposed during life changes. With first-time buyers now around age 40, analysts said the extended term raised concerns about long-term security and ageing borrowers.Read more

Seritage Growth Properties reported a quarterly net loss, indicating that the company continued to face challenges linked to its ongoing asset-sale programme earlier this week. The REIT recorded a loss of USD13.6 million for the period, though it noted an improvement in liquidity, with cash reserves rising to USD65 million. Management stated that discussions over asset sales were continuing, with anticipated gross proceeds of about USD240.8 million from transactions currently under negotiation. The company also projected between USD220 million and USD310 million in potential proceeds for assets not yet under contract, while cautioning that market conditions could still influence outcomes.Read more

China National Petroleum Corporation (CNPC) has set up a dedicated power arm in Beijing China Petroleum Electric Energy Co Ltd to steer its growing new-energy business. Wholly owned by CNPC's Daqing Oilfield subsidiary and backed with 5 billion yuan (about USD 703 million) of capital, the unit will act as a market-oriented platform to manage power production, supply, and sales. CNPC's leadership said this move reflects its strategy to adapt to rapid renewable grid integration, deeper power market reform, and surging demand for green electricity.Read more

Bridgemarq Real Estate Services reported earlier this week that its quarterly loss had reduced even as revenue softened compared with the same period last year. The firm recorded lower quarterly revenue but saw a notable improvement in its net loss position, supported partly by an unchanged valuation of its Exchangeable Units. Adjusted net earnings declined, while operating cash flow remained positive. Growth in franchise fees and the continued expansion of its agent network, driven by enhanced tools and technologies, contributed to its performance. The company did not issue guidance for the coming quarters.Read more