Sri Lanka has restarted the stalled 38-km Central Expressway connecting Colombo and Kandy with a new USD 500 million Chinese loan, marking the first funding from China since the country's 2021 debt default. Launched in 2016, the project was suspended in 2023 due to financial and material shortages, with one-third completed at the time. The government aims to finish the highway by 2028, which will improve connectivity and support economic activity. The funding comes on concessionary terms, amid Sri Lanka's ongoing debt restructuring and the competition between China and India for regional influence.Read more

Rithm Capital has agreed to acquire Paramount Group for USD 1.6 billion, betting on a rebound in U.S. office real estate. The acquisition values Paramount at USD 6.60 per share, offering a 10.7% discount from its prior close. The company plans to fund the deal through cash, balance sheet liquidity, and potential co-investor contributions. Paramount's portfolio, spanning over 13.1 million square feet across New York and San Francisco, is about 85% leased. Analysts see the move as timely amid improving office fundamentals and a potential return-to-office trend.Read more

Dubai Investments is planning an IPO for its Dubai Investments Park, aiming to sell up to a 25% stake in the real estate unit. Sources suggest DIP could be valued at USD 2.5 billion, with a potential listing in the first quarter of next year. The development, spanning 2,300 hectares, includes industrial, commercial, and residential spaces and hosts over 160,000 residents. This move aligns with the recent wave of IPOs in the UAE, as construction and real estate companies capitalize on strong housing demand and infrastructure growth.Read more

China's housing market continues to face downward pressure, with new home prices falling 0.3% month-on-month and 2.5% year-on-year in August. Resale prices in tier-one, tier-two, and tier-three cities also declined, while property investment dropped 12.9% year-on-year from January to August. Analysts say recovery may not occur until 2026 or 2027 due to weak buyer sentiment, high inventory, and employment pressures. Policymakers are easing home purchase restrictions and considering credit and interest rate adjustments. Premier Li Qiang has emphasized the need for stronger measures to stimulate housing demand and support market stability.Read more

PRS REIT, a Manchester-based real estate investment trust focused on family rental homes, has agreed to sell its operating company, PRS REIT Holding Company, to a fund advised by Waypoint Asset Management for about 646.2 million pounds (USD 881.2 million). Shareholders are set to receive a dividend of 1.1 pence per share for the first quarter of fiscal 2026, in addition to the sale proceeds. Competing interest from Long Harbour and U.S. private equity firm KKR did not lead to higher or firmer offers. The deal is expected to complete by the end of November, followed by the trust's voluntary liquidation.Read more

The United States has cleared a 130 million USD project to build a high-voltage transmission line in Moldova to strengthen electricity supply from European markets. Moldova continues to rely heavily on power produced in Transdniestria, a separatist region dependent on Russian gas. Following Ukraine's refusal to extend a Russian gas transit agreement, Transdniestria reduced its power generation, creating pressure on Moldova's energy security. The project, announced by the U.S. embassy, is expected to help the country integrate more closely with European networks and introduce U.S. technologies in areas such as grid infrastructure, ICT, nuclear energy, and battery storage.Read more

The Yen appreciated against the U.S. dollar after the Bank of Japan left its benchmark interest rate unchanged at 0.50 %. The decision came with a 7-2 split among board members, reflecting differing views on the pace of policy tightening. Alongside keeping rates steady, the central bank confirmed it will gradually sell its exchange-traded fund (ETF) and Japanese real estate investment trust (J-REIT) holdings, marking a cautious step toward normalisation of policy. With inflation slowing but still above target and a leadership change underway in Japan's ruling party, investors are now focused on the BOJ's October meeting as a possible turning point for rate action.Read more

Hongkong Land has signed an agreement to divest its residential development arm, MCL Land, to a subsidiary of Malaysia's Sunway for SGD 739 million (about USD 578 million). The company plans to use the proceeds to strengthen its balance sheet and raise its ongoing share buyback by USD 150 million, in addition to the USD 200 million programme already underway. The move forms part of Hongkong Land's long-term 2035 strategy to exit the build-to-sell; residential sector and prioritise ultra-premium commercial properties in major Asian cities. Despite this shift, Singapore continues to remain a core focus market.Read more

British homebuilder MJ Gleeson recorded a 17.3% fall in annual pretax profit to GBP 20.5 million (USD 27.9 million) for the fiscal year ending June 2025, affected by rising construction costs, flat selling prices, planning delays, and a failed land deal. Despite this, the company entered the new fiscal year with a strong forward order book of 845 plots, up from 597 at the end of December 2024. Analysts noted that the results indicate recovery potential, and shares rose 1.8% to 347 pence, reflecting positive investor sentiment.Read more

WaterBridge Infrastructure, backed by private equity firm Five Point, has raised USD 634 million through its IPO in the United States. The company sold 31.7 million shares at USD 20 each, pricing them at the top of its range of USD 17 to USD 20. This valued the Houston-based water management firm at about USD 2.3 billion. WaterBridge, which operates mainly in the Delaware Basin, handles produced water for major energy players including BPX Energy, Chevron, Devon Energy, EOG Resources and Permian Resources. J.P. Morgan and Barclays led the offering.Read more