Two Phoenix Suns minority owners, Scott Seldin and Andy Kohlberg, have refiled a lawsuit against majority owner Mat Ishbia, accusing him of using the franchise as his 'personal piggy bank' and acting in the interests of his mortgage company, United Wholesale Mortgage. The renewed suit follows an earlier case withdrawn after Ishbia countersued. The owners allege breaches of contract, lack of access to records and a disputed capital call in which Ishbia allegedly missed his own funding deadline. Ishbia has denied the claims, calling the suit a coercive tactic and stating that all investors were free to either contribute alongside him or exit. The dispute highlights growing tensions over governance and transparency within the Suns' ownership structure.Read more

New Zealand's housing market has shifted from being a dependable wealth-building avenue to a source of caution for investors and homeowners. Prices, which surged 40% during the pandemic, have since fallen by nearly 20%, leaving them around 15% below the 2021 peak. Oversupply from a post-pandemic building boom, slow population growth, and rising unemployment have changed market dynamics. First-home buyers are benefiting, but investor activity has slowed. The Reserve Bank's rate cuts and relaxed lending rules aim to stimulate demand, yet economists foresee only modest price gains and a potentially long-term adjustment in housing as a core economic driver.Read more

Tanzania is preparing to restart construction of the long-delayed Bagamoyo Port in December after more than a decade of postponements. Officials confirmed that equipment has begun moving to the project site, where work will start with 14 berths before expanding to 28. The port will be dredged to about 20 metres and will handle ships carrying up to 25,000 containers. The project will anchor a 9,800-hectare special economic zone linked by rail and road networks. Earlier agreements had stalled, but renewed government negotiations since 2021 have moved the plan forward.Read more

ITC Properties Group said earlier this week that it will issue 100.8 million subscription shares at a price of HKD 0.7 per share. The update was released through a regulatory filing, indicating the company's move to strengthen its financial position. ITC Properties has used similar share placements in the past to support operations and manage liquidity during changing market conditions. This new issuance follows the same approach and is aimed at providing additional capital for ongoing requirements while maintaining financial stability.Read more

City Developments Limited (CDL) has agreed to divest the Bespoke Hotel Osaka Shinsaibashi to a Blackstone-managed real estate fund for JPY 14 billion, as part of its capital recycling and portfolio optimisation strategy. The freehold, 256-room hotel-located in Osaka's busy Shinsaibashi district near major retail hubs and metro stations-was acquired by CDL in August 2023 for JPY 8.5 billion. Strong demand in Japan's hospitality sector supported the timing of the sale, which is expected to conclude in December. This marks CDL's fourth major divestment in 2025, contributing to more than SGD 1.8 billion in contracted sales. Blackstone said the acquisition aligns with its hospitality-focused investment strategy in Japan.Read more

Spain's CNMV has authorized a voluntary takeover bid for Aedas Homes shares by Neinor DMP Bidco, enabling the acquisition process to move forward. The approval reflects ongoing consolidation trends in Spain's real estate sector, with larger developers seeking to expand their portfolios. Aedas Homes' extensive residential project pipeline makes it a valuable target, while Neinor's history of strategic acquisitions positions it for growth. Shareholders will now consider the offer, which could enhance Neinor's market presence and bring operational and project development synergies.Read more

Amazon confirmed earlier this week that it would invest about USD 15 billion in Northern Indiana to develop large-scale data centre campuses, aiming to enhance its cloud computing capacity amid accelerating demand for artificial intelligence infrastructure. The initiative, which follows an earlier USD 11 billion commitment in the past year, is expected to add 2.4 gigawatts of capacity and generate around 1,100 jobs. Amazon has already invested more than USD 31.3 billion in Indiana since 2010. The company also revealed separate plans to spend up to USD 50 billion to expand AI and supercomputing capabilities for U.S. government clients.Read more

Joy City Property Ltd confirmed that its proposed share buy-back scheme has been sanctioned by the court without any modifications. The stock exchange has approved the withdrawal of its listing, effective from 27 November. The approval reflects compliance with all regulatory and legal requirements, allowing the company to proceed with the share repurchase. This move is consistent with a broader trend among companies returning value to shareholders and managing equity efficiently. The court's sanction and listing withdrawal are key steps in executing the buy-back plan.Read more

Tamdeen Real Estate has signed an agreement to sell vacant land owned by its hotel subsidiary, Tamdeen World Hotels, for 14.2 million KWD. The sale is part of the company's broader strategy to monetize non-core and unused assets while focusing on operational areas. Historically, Tamdeen Real Estate has undertaken similar asset rationalization efforts to enhance liquidity and strengthen its portfolio. Experts note that such measures help the company fund development projects and manage financial stability, underlining a structured approach to asset management in the hospitality sector.Read more

New Ismailia for Urban Development recorded a net profit after tax of EGP 377,082 and revenue of EGP 612,133 in the third quarter. The results reflect steady operational performance and controlled expenses across the company's urban development projects. While the profit margin is modest, the figures indicate disciplined financial management and consistent revenue streams. Compared with prior quarters, the Q3 results continue the company's pattern of cautious growth. Analysts view the performance as a stable foundation, demonstrating the company's ability to maintain operations and manage costs effectively in a competitive real estate market.Read more