GHV Infra Projects has secured an engineering, procurement, and construction contract from Rana Exim FZ-LLC in the United Arab Emirates for the development of a smart manufacturing hub. Valued at approximately INR 2,645 crore, the project is located in Ras Al Khaimah Economic Zone and will comprise industrial and commercial infrastructure. The estimated completion timeline is 24 months, excluding an initial 90-day setup period. With this addition, the company's total order book now exceeds INR 7,000 crore.Read more

CoStar Group has filed a lawsuit against Zillow, accusing the real estate platform of unauthorized use of nearly 47,000 copyrighted property images to bolster its rental listings business. These images, many of which carried watermarks, were reportedly published on Zillow's platform and syndicated to sites like Realtor.com and Redfin. CoStar is seeking over USD 1 billion in compensatory and punitive damages, alleging the infringement was both extensive and intentional. The company also warned it may take similar legal action against Zillow's syndication partners unless the disputed content is promptly removed.Read more

McDonald's has put eight high-street retail properties in Hong Kong up for sale for about HKD 1.2 billion (USD 153 million), while continuing to operate from these locations under long-term lease agreements. The sale, managed by JLL, includes sites in key shopping districts like Causeway Bay, Tsim Sha Tsui, and Mong Kok. The company plans to sell a total of 23 properties in phases. Investor interest has already been high. The move aligns with McDonald's broader portfolio strategy and comes amid a retail slowdown in the city.Read more

Aldar Properties has reported a sharp rise in quarterly net profit, driven by strong property sales-especially from Chinese investors-across its Abu Dhabi residential and commercial portfolio. The development division led growth, supported by new launches and successful sales efforts, while revenue from investment properties also rose due to higher occupancy and rental rates. Executives noted increased international interest, particularly in premium and waterfront projects. Strong operational execution, including on-time delivery and cost controls, further boosted performance. Aldar is also expanding into new geographies and asset classes through acquisitions and joint ventures, aiming to grow recurring income and enhance long-term stability.Read more

Portugal's housing market has maintained strong buyer interest for six consecutive months, with prices continuing to rise, as per the RICS and Confidencial Imobiliário Housing Market Survey. The premium segment, particularly in the Algarve, is witnessing brisk sales. The Residences Vale do Lobo, a newly launched luxury project within the prestigious Vale do Lobo resort, has already approached the halfway mark in sales just weeks after its release. Domestic and international investors alike are drawn to the blend of lifestyle and investment potential on offer.Read more

Hongkong Land reported a net profit of USD 297 million in H1 2024, reversing its prior-year loss due to reduced valuation losses on investment properties. Despite ongoing high vacancy rates in Hong Kong's office market, the company's Central portfolio remains nearly fully occupied. Underlying profit held steady at USD 384 million, and an interim dividend of 6.5 US cents per share was maintained. The company saw stable performance from development projects in mainland China, Singapore, and Indonesia, supported by resilient demand. With moderate gearing and strong liquidity, Hongkong Land expressed cautious optimism, highlighting disciplined capital management and confidence in long-term recovery.Read more

A recent CBRE analysis has indicated that rising economic rents across key Asia Pacific markets have made office leasing increasingly expensive for occupiers, prompting many corporates to reassess the economics of building their own premises versus continuing to lease. While the 'build' option had long appeared capital-intensive, recent rent escalations in prime markets such as Mumbai, Ho Chi Minh City, and Manila have tipped the scale in favour of ownership for some. This shift is reshaping long-term real estate strategy discussions among occupiers with substantial space requirements.Read more

The average 30-year mortgage rate in the U.S. has marginally dropped to 6.74% from 6.75%, while the 15-year rate has eased to 5.87%. Despite this decline, the relief for homebuyers remains limited as home prices continue to stay elevated around USD 435,300. New single-family home sales rose just 0.6%, falling short of expectations, while inventory levels touched their highest since 2007. Many buyers now rely on mortgage rate buydowns, builder incentives, or family support to afford homes, while sellers remain reluctant to list due to lower rates they had locked in during previous years.Read more

A Vancouver-based office-focused REIT operating in U.S. Sun Belt markets has agreed to sell to an affiliate of Elliott Investment in a USD 1.1 billion all-cash transaction that includes debt. Shareholders are offered USD 7.00 per share roughly a 26% premium over recent trading levels which triggered a more than 24% jump in share price. The takeover hinges on approval and sale of its Phoenix portfolio and is expected to wrap by late this year. Stakeholder confidence is pegged on a hoped-for recovery in the challenged office sector.Read more

China's outstanding property loans rose to a two-year high in June, signaling intensified efforts by the government to support the struggling real estate sector. The overall loan book reached 53.33 trillion yuan, with development loans increasing slightly, while mortgage loans remained subdued. Despite this lending push, the housing market continued to show signs of weakness, with new home prices falling at the sharpest rate in eight months. The rise in loans comes at a time when Beijing is taking multiple steps to stabilize the market, including letting local governments purchase unsold homes and land from financially stressed developers.Read more