TotalEnergies has informed the Mozambican government that costs for its liquefied natural gas (LNG) project have increased by around USD 4.5 billion during the four-year suspension period caused by militant unrest. The French energy company, along with its partners, recently decided to lift the force majeure imposed in 2021 and requested the government to extend its production agreement by ten years. Before construction resumes, Mozambique's council of ministers must approve the revised budget and timeline, reflecting the additional costs resulting from the extended disruption.Read more

NVR's third-quarter profit declined as shrinking margins and higher costs affected earnings, with net income falling 20% to USD 342.7 million and earnings per share dropping to USD 112.33, slightly above analysts' expectations. The gross profit margin decreased to 21.0% due to higher lot costs, pricing pressures, and contract land deposit impairments. New home orders fell 16%, while cancellations increased to 19%. Homebuilding revenues fell 4.4% to USD 2.56 billion. Rising interest rates and tariffs on construction materials continue to challenge the US homebuilding sector.Read more

Regency Centers has increased its full-year forecast for funds from operations (FFO) following steady leasing demand for its grocery-anchored shopping centers. The real estate investment trust (REIT) expects its 2025 NAREIT FFO to range between USD 4.62 and USD 4.64 per share, slightly higher than its earlier projection of USD 4.59 to USD 4.63. The company also raised its annual core operating earnings guidance to USD 4.39-4.41 per share. For the third quarter ended September 30, Regency posted an FFO of USD 1.15 per share, matching market estimates.Read more

Equity Residential, a Chicago-based real estate investment trust, reported higher third-quarter funds from operations (FFO) of USD 1.05 per share, up from USD 0.99 a year earlier, driven by strong rental demand and limited housing supply in key U.S. markets. Quarterly revenue reached USD 782.4 million, slightly above analyst estimates. CEO Mark Parrell highlighted that low new housing supply, stable employment, and rising incomes are supporting long-term rental market strength, particularly in coastal regions. The company's results reflect steady growth and operational resilience in the multifamily sector, with Equity Residential well positioned to benefit from ongoing urban rentership and demographic trends.Read more

Real estate investment trust BXP, formerly known as Boston Properties, outperformed Wall Street forecasts for its third-quarter revenue, supported by robust leasing momentum as more companies expanded their physical office space. The REIT, which operates across six major U.S. markets including New York and San Francisco, recorded revenue of USD 871.5 million, surpassing analysts' estimates of USD 855.3 million. Following the results, its shares rose 3% in after-hours trading. The stronger demand for office space reflects the gradual shift away from work-from-home policies introduced during the pandemic.Read more

The Government of Gangnan District in Guigang City, Guangxi, has signed a cooperation agreement with Shandong Jinyuan Wood Industry Co., Ltd. at the 22nd China-ASEAN Expo. The project involves setting up a production line and supporting facilities for 40 million impregnated papers and 12 million decorative panels annually, alongside advanced production and testing systems. Once operational, the facility is expected to generate about CNY 680 million in annual revenue. The initiative strengthens Gangnan's efforts to modernize its wood industry cluster and expand its footprint in the ASEAN market.Read more

U.S. existing home sales reached a seven-month high in September, driven primarily by higher-priced properties. Mortgage rates fell to one-year lows, but demand for new purchase loans remains modest, with many homeowners refinancing instead. Inventory increased by 14%, offering buyers more choice, though levels are still below pre-pandemic norms. First-time buyers accounted for 30% of sales. Economic uncertainty, a cautious labor market, and government shutdown-related delays continue to limit broad-based growth. Affordability challenges persist, particularly for lower and middle-income households, shaping the housing market.Read more

GPT Group is set to acquire a 50% stake in Sydney's Grosvenor Place office tower for AUD 860 million (USD 558.83 million) in partnership with the Commonwealth Superannuation Corporation. The iconic 44-storey building, valued at around AUD 1.72 billion (USD 1.12 billion), is home to major tenants including Mitsubishi Australia and Sonic Healthcare. This purchase marks GPT's third office property on George Street and will be funded through existing debt facilities. The deal, expected to close by year-end, will not affect annual earnings. GPT shares rose following the announcement.Read more

Rhino Resources is moving forward with offshore oil and gas projects in Namibia by planning an appraisal well at Capricornus and a flow test at Volans. Capricornus had previously produced light oil at 11,000 barrels per day, while Volans is a high liquid-yield gas condensate find. The company is exploring co-development options and acquiring new seismic data to investigate the Sagittarius trend. In partnership with BP-Eni-backed Azule Energy, Rhino aims for a final investment decision by late 2026 or early 2027, with first oil potentially in 2030.Read more

Wynn Al Marjan Island in Ras Al Khaimah, part of a USD 5.1 billion integrated resort project, has announced its first two dining establishments. The development will feature a French-American steakhouse by acclaimed chef Alain Ducasse and the Middle Eastern debut of Delilah, the famed supper club from Wynn Las Vegas. Both venues are being designed by Wynn Design and Development, reflecting the brand's signature sophistication and theatrical flair. The restaurants will open alongside the resort's much-anticipated debut in Spring 2027.Read more