Google has initiated plans to establish an artificial intelligence data centre on Australia's remote Christmas Island in the Indian Ocean, following its earlier cloud services agreement with the Australian Department of Defence. The project, which remains largely confidential, is reportedly part of a broader effort to enhance digital resilience and defence capabilities across the Indo-Pacific. While Google has played down the scale of the project, officials confirmed discussions over energy supply and subsea cable connectivity. Local authorities and residents are now evaluating the centre's environmental and economic impact on the island community.Read more

Sunstone Hotel Investors recorded higher-than-expected revenue during the past quarter, aided by strong performance in the San Francisco market, which offset weaker demand elsewhere. Despite a decline in net income to USD 1.3 million compared with USD 3.2 million in the same quarter last year, the company's completion of a new credit agreement improved financial flexibility and addressed debt maturities. Sunstone has retained its full-year outlook, projecting steady growth in RevPAR and adjusted EBITDA.Read more

A consortium of nearly 20 banks has reportedly agreed to provide a project finance loan of around USD 18 billion to fund the construction of a data centre campus associated with Oracle in New Mexico. The facility forms part of the Stargate initiative a USD 500 billion programme focused on expanding AI infrastructure across the United States. The financing, led by Sumitomo Mitsui Banking Corp, BNP Paribas, Goldman Sachs, and Mitsubishi UFJ Financial Group, is expected to be syndicated among institutional investors later this month.Read more

Nissan Motor has completed a USD 643 million sale and leaseback of its Yokohama headquarters as part of its restructuring plans, expecting extraordinary income of 73.9 billion yen for the fiscal year ending March 2026. The property was bought by MJI Godo Kaisha, with Nissan signing a 20-year lease through Mizuho Trust & Banking. A special purpose company supported by Minth Group and KKR acquired the assets for 90 billion yen. This transaction highlights Nissan's efforts to optimize assets and improve financial stability while continuing operations at its headquarters.Read more

Host Hotels & Resorts has raised its full-year forecast for adjusted funds from operations (FFO), driven by strong performance in its luxury and upscale hotel portfolio. Higher-income travelers continue to support demand, while mid-scale and budget hotels face slower occupancy and room revenue across the U.S. The REIT reported third-quarter FFO above analysts' expectations and revenues exceeding estimates. The company has also partnered with Marriott for significant renovations at four of its properties, aiming to enhance long-term performance. Shares responded positively to the update in after-hours trading.Read more

Camden Property Trust has increased the midpoint of its full-year forecast for core funds from operations (FFO), reflecting steady rent growth and tightening housing supply across its major U.S. markets. The Houston-based real estate investment trust, which owns and manages around 60,000 apartment units across more than 175 properties, indicated optimism in its operating fundamentals. Despite a marginal year-on-year dip in third-quarter core adjusted FFO, Camden's positive full-year outlook highlights strong rental performance in a challenging housing environment.Read more

Petronas, Enilive, and Euglena have started constructing a new biorefinery in Pengerang, Malaysia, to produce sustainable fuels for the Asian market. The facility will process up to 650,000 tonnes of renewable feedstock each year, including waste oils, animal fats, and processing residues, generating Sustainable Aviation Fuel, Hydrogenated Vegetable Oil, and bio-naphtha. Operations are expected to begin in the second half of 2028. The project is a key step toward reaching an annual production capacity of over 5 million tonnes, including 2 million tonnes of SAF by 2030, reflecting growing regional efforts in renewable energy and green fuel technologies.Read more

Dream Office Real Estate Investment Trust reported a smaller net loss for the third quarter compared to the same period last year, though its funds from operations (FFO) per share declined. The company witnessed a modest rise in occupancy across Toronto's downtown office properties, even as its overall portfolio occupancy slightly dipped. Increased demand from financial institutions helped support leasing momentum in Toronto. The trust continues to focus on mitigating risk, driving redevelopment initiatives, and stabilising its operations amid continued market uncertainty.Read more

UPS and FedEx have grounded their combined fleet of more than 50 MD-11 cargo planes after a fatal crash of a UPS MD-11 in Louisville killed 14 people. The 34-year-old aircraft caught fire shortly after takeoff, with investigators confirming one engine detached mid-roll. Both companies described the move as a precautionary step taken on the manufacturer's recommendation. The U.S. National Transportation Safety Board (NTSB) is leading the probe, with a preliminary report expected within 30 days. FedEx and UPS are now using contingency plans to avoid disruption.Read more

New York City's real estate industry is engaging with mayor-elect Zohran Mamdani amid his plans to freeze rents and boost housing development. Industry leaders are concerned that a rent freeze for rent-stabilized apartments could hinder building maintenance, reduce investment, and strain over 200,000 affordable units already facing financial challenges. Despite this, some developers see potential for collaboration, emphasizing that Mamdani recognizes rising costs and aims to support landlords alongside tenants. The industry is seeking dialogue to implement policies that balance affordability with sustainable development and investment.Read more