Authorities in New South Wales have lowered wildfire alerts after fires destroyed homes and damaged infrastructure across the Central Coast and other regions. Over 60 fires were active during the peak, but officials confirmed that residents were no longer in immediate danger. Disaster assistance, including financial help and recovery support, has been activated for six affected regions. The Australian government highlighted the continuing risk of extreme heat and bushfires during the summer months. The state's vulnerability has been worsened by climate change, with memories of the 2019-2020 'Black Summer' fires still influencing preparedness.Read more

A deadly fire at Hong Kong's Wang Fuk Court has raised questions about contractor safety and regulatory oversight. Documents reveal residents were wrongly assured that Prestige Construction had a clean safety record, despite multiple past violations. Homeowners repeatedly raised concerns over fire hazards and rising renovation costs, attempting to revoke the contract. Following the blaze, Prestige and consulting firm Will Power are under manslaughter and anti-corruption investigations. Authorities report that substandard scaffolding mesh and flammable foam boards contributed to the fire, which claimed at least 159 lives, marking Hong Kong's deadliest incident since 1948.Read more

UK house prices remained flat in November, following October's modest growth, with annual growth slowing to its weakest since early 2024. Market caution ahead of the Autumn Budget contributed to stagnation, though affordability reached levels not seen since 2015, easing pressure on buyers. Regional trends varied, with slight declines in the south and modest gains in the north. Other lenders confirmed the slowdown, while Halifax expects gradual growth next year, aided by steady activity and anticipated lower interest rates.Read more

National Storage REIT has agreed to a USD 2.65 billion takeover by a Brookfield-GIC consortium, offering a 26.5% premium over its late November share price and sending shares to a record AUD 2.81. The deal, now the largest take-private acquisition of an Australian real estate company, follows previous non-binding bids and reflects growing investor interest in retail and self-storage assets. The board has unanimously endorsed the transaction, which is expected to close by Q2 2026, highlighting a notable development in an otherwise quiet Australian M&A market.Read more

China Vanke has asked bondholders to approve repayment extensions on two onshore bonds-one worth 3.7 billion yuan due on December 28 and another 2 billion yuan bond maturing on December 15. For the latter, Vanke is also proposing added credit enhancements, possibly including a full guarantee from major shareholder Shenzhen Metro. The developer will not redeem an onshore bond due in January 2028 and will keep its 3.98% coupon unchanged. Vanke has also stopped using two major Chinese rating agencies for assessments. The moves come amid fresh downgrades by S&P and Fitch and reflect the liquidity pressures facing China's property sector as developers seek to manage repayments and preserve cash.Read more

SLP has taken over the fourth and final asset under its sale-and-leaseback arrangement with DSV, marking the completion of a multi-asset transaction between the two companies. The property, valued at SEK 1.1 billion, concludes a deal that has been progressing in phases over recent months. The agreement allows DSV to continue operating from the site while unlocking capital through the sale. Sale-and-leaseback structures have been a common strategy for logistics companies in Europe, helping them optimise capital and facility usage. This development marks the final step in SLP's planned acquisition sequence under the deal.Read more

Visa will relocate its European headquarters to Canary Wharf in London, leasing 300,000 square feet at One Canada Square for a 15-year term and moving from Paddington by summer 2028. The financial district, recovering from pandemic-related declines in office demand, is attracting global companies once again. Canary Wharf Group emphasized Visa's choice as a positive step for business growth. This development coincides with other major projects, including JPMorgan Chase's new tower and plans by Qatar's sovereign wealth fund to expand office space in East London, highlighting the district's ongoing revival.Read more

Stor-Age Property REIT Ltd completed an equity raise of R500 million, with subscriptions exceeding the offer threefold, showing strong market demand. The raise is aimed at supporting the REIT's expansion plans and investment in storage-focused property assets. Market experts view the oversubscription as a sign of confidence in South Africa's REIT sector, particularly in specialized real estate segments. The funds will strengthen the company's balance sheet, enable property acquisitions, and enhance existing assets, positioning Stor-Age to deliver steady returns and expand its portfolio in strategic locations while continuing to focus on long-term shareholder value.Read more

President Donald Trump has appointed architect Shalom Baranes to lead the 300 million USD White House ballroom project, replacing James McCrery, who will remain as a consultant. The change follows reported disagreements over the size and design of the ballroom. The planned 90,000-square-foot addition, the largest construction at the White House in decades, has drawn criticism from preservationists and experts. The East Wing was recently demolished to make way for the project. The proposal will eventually be reviewed by the National Capital Planning Commission.Read more

Ocado is set to receive a one-off USD 350 million payment from Kroger after the U.S. retailer decided to close three robotic warehouses and cancel plans for another site. While closures will reduce Ocado's fee revenue in fiscal 2026 by about USD 50 million, the company remains focused on expanding its automation technology and turning cash-flow positive next year. One planned warehouse in Phoenix will continue with new technology. The deal highlights the ongoing importance of Ocado's automation solutions in the U.S. grocery market despite strategic changes by Kroger.Read more