Saks Global, the parent company of Saks Fifth Avenue, is considering selling a minority stake in Bergdorf Goodman as part of efforts to reduce debt. The luxury retailer, which operates women's and men's stores on Fifth Avenue in New York, is seen as central to the group's long-term strategy. Reports suggest the company is in talks with multiple bidders for a potential 49% stake valued at around USD 1 billion, though no final decision has been made. The move follows Saks Global's acquisition of Neiman Marcus last year for USD 2.65 billion.Read more

Hong Kong shut down this past week as Super Typhoon Ragasa, the world's strongest tropical cyclone this year, swept across southern China. Authorities suspended most flights, closed schools and businesses, and urged people to remain indoors. Panic buying left supermarket shelves empty, while Guangdong province evacuated more than 770,000 residents and prepared to relocate over one million. With hurricane-force winds, torrential rainfall and storm surges forecast, the Hong Kong Observatory warned of conditions similar to previous devastating typhoons Hato and Mangkhut.Read more

KEC International has secured new orders worth INR 3,243 crore for power transmission and distribution projects in the UAE and the Americas. These include 400 kV transmission lines and the supply of towers, poles, and hardware. With these orders, the company's year-to-date total has reached INR 11,700 crore. The Middle East continues to be an important growth region, and KEC's work across power, civil, transport, renewables, and pipelines helps it maintain a strong position in global infrastructure projects.Read more

Keppel DC REIT, listed in Singapore, has announced the acquisition of a hyperscale data centre in Tokyo's Inzai City alongside its parent company, Keppel. The total deal value is about JPY 82.1 billion (USD 555 million), representing a small discount to its valuation of JPY 83 billion. Keppel DC REIT will hold a 98.47% effective interest in the facility, while Keppel will hold the remainder. To support the acquisition, the trust will raise SGD 404.5 million through a preferential offering. The addition is expected to enhance earnings and lift its assets under management to SGD 5.7 billion.Read more

Dubai's property investors were advised not to base their decisions only on forecasts of price corrections linked to new housing supply. Analysts such as Fitch and Moody's recently suggested a possible 15% decline in values by the end of this year or early next. However, fäm Properties' CEO Firas Al Msaddi highlighted that the market is far more complex, urging investors to track broader indicators like demand, sales activity, rent levels, and liquidity instead of focusing solely on scheduled deliveries.Read more

Compass, the largest U.S. residential real estate broker, has announced plans to acquire Anywhere Real Estate in an all-stock deal valued at USD 4.2 billion. The transaction, expected to close in the second half of 2026, will significantly expand Compass' revenue by adding Anywhere's franchise, title, escrow, and relocation businesses. Anywhere shareholders will receive USD 13.01 per share, an 84% premium to its last close, while its stock surged nearly 49% following the news. The combined entity is projected to have an enterprise value of about USD 10 billion, including debt.Read more

Dubai's rental market is seeing a major shift, with long-term agreements rising 17.3% year-on-year, according to Colife Dubai. Families, students, and expats are driving demand for stable housing, locking in yearly leases to save on rising rents-such as AED 14,999 per month for a two-bedroom in Dubai Marina versus AED 16,499 on short-term stays. September offers tenants wider choice and better deals before competition spikes in October and November. Popular long-term hubs include Dubai Marina, Downtown, Jumeirah Village Circle, Dubai Hills, and Al Barsha. With rental yields averaging 7-12%, the trend benefits both tenants seeking security and investors seeking reliable returns.Read more

Hong Kong is preparing for the arrival of Super Typhoon Ragasa, with a 36-hour suspension of passenger flights at Hong Kong International Airport beginning Tuesday evening. The observatory has raised warning signals and forecast gale to hurricane-force winds, along with heavy rain and storm surges. Residents have rushed to stock up on food and household items, leading to shortages and higher prices in some areas. Airlines including Qantas and Cathay Pacific are adjusting operations, while in the Philippines, authorities have already halted work and classes as the typhoon nears northern Luzon.Read more

Single-family housing starts in the U.S. dropped to their lowest in about two and a half years in August, mainly because of an overhang of unsold homes. The Commerce Department reported declines in both new construction and future building permits, with the South showing the steepest fall. While mortgage rates have eased recently and the Federal Reserve has started cutting interest rates again, economists believe these measures may not be enough as weak job growth and rising unemployment weigh on homebuyer demand. Builders are now focusing on clearing inventory through price cuts and incentives.Read more

Hong Kong has lowered the minimum qualifying amount for residential property purchases under its New Capital Investment Entrant Scheme from HKD 50 million to HKD 30 million (USD 3.9 million). The move aims to revive the city's struggling housing market, where prices remain near their lowest since 2016. Applicants must still meet the HKD 30 million total investment threshold, with only up to HKD 10 million allowed in residential property, the rest in financial assets. While the change may attract some high-net-worth investors to luxury homes, analysts warn that oversupply and weak economic conditions will limit impact, requiring broader demand-boosting measures.Read more