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Revised mapping of flood zones: QPAREB voices concerns about impacts on the real estate market
1729272398 from FPOST
MONTREAL, Oct. 18, 2024 (GLOBE NEWSWIRE) — The Quebec Professional Association of Real Estate Brokers (QPAREB) submitted a brief yesterday as part of the public consultation on modernization of the regulatory framework for wetlands and flood zones. In it, the QPAREB highlights the anticipated impacts in the current situation and suggests measures for mitigating them. […]
Perverse Timing For People Who Want to Refinance Their Mortgage
1729272007 from BLOOMBERG
Hello and welcome to the newsletter, a grab bag of daily content from the Odd Lots universe. Sometimes it's us, Joe Weisenthal and Tracy Alloway, bringing you our thoughts on the most recent developments in markets, finance and the economy. And sometimes it's contributions from our network of expert guests and sources. Whatever it is, we promise it will always be interesting.
Oklahoma City Mayor on GO Bond Sale, Infrastructure Plans
1729026160 from BLOOMBERG
Oklahoma City Mayor David Holt discusses the city's potential sale of general obligation bonds to fund its infrastructure plans. Holt speaks on "Bloomberg The Close" from the sidelines of Bloomberg CityLab in Mexico City. (Source: Bloomberg)
Sebi to auction 15 properties on Nov 19 with Rs 11.89 cr reserved price
1729009459 from BIZSTNDRD
Capital markets regulator Sebi on Monday said it will auction 15 properties belonging to Mangalam Agro Products, Sumangal Industries and Falkon Industries India on November 19. The move is part of Sebi's efforts to recover money collected by these companies from investors in violation of norms. Ravi Kiran Realty India and Purusattam Infotech Industries are the two other companies whose properties will be auctioned by the markets watchdog. Properties that will go under the hammer including flats, land with structure and land parcels are located in West Bengal and Odisha. The properties will be auctioned with a reserve price of Rs 11.89 crore and the auction will be conducted online on November 19 from 11 am to 1 pm, the Securities and Exchange Board of India (Sebi) said in a notice. Sebi has invited bids for the sale of properties in the recovery proceedings against Mangalam Agro Products, Sumangal Industries, Falkon Industries India, Ravi Kiran Realty India and Purusattam Infotech
CREA lowers housing market forecast for 2024 amid ‘holding pattern’ for home sales
1728999448 from FPOST
OTTAWA — The Canadian Real Estate Association is downgrading its housing market forecast for the remainder of the year again, saying the Bank of Canada’s interest rate cuts haven’t spurred the gradual improvement it previously anticipated. CREA says it now thinks the national housing market will remain in “more of a holding pattern” until next […]
Homebuyers' sentiment bullish on hopes of capital appreciation: Magicbricks
1728998237 from BIZSTNDRD
Homebuyers' sentiment remains strong on expectations of rise in capital and rental values of residential properties, according to Magicbricks. Real estate platform Magicbricks on Tuesday released 'Housing Sentiment Index' (HSI). "With expectations of capital appreciation and rising rental yields, the homebuyer sentiment continues to grow strong," Magicbricks said in a statement. Based on a survey of over 2,100 customers, the report indicates that the customer housing sentiment index has increased from 149 to 155 in just six months (April vs September 2024). Investor sentiment was also notably robust in Noida and Greater Noida, both recording a high HSI score of 163, while cities such as Gurugram, Ahmedabad, and Hyderabad followed closely with scores of 160 each. Conversely, markets like Delhi (HSI score 151), Bengaluru, and Mumbai (HSI score 148) exhibited relatively lower sentiment, likely attributable to rising property prices. The survey also underscored growing confidence amo
Macrotech acquires 7 land parcels to build Rs 16,600 cr housing projects
1728995439 from BIZSTNDRD
Realty firm Macrotech Developers has acquired seven land parcels in Mumbai Metropolitan Region (MMR), Pune and Bengaluru to develop housing projects with an estimated revenue potential of Rs 16,600 crore. Mumbai-based Macrotech Developers, which markets its properties under the Lodha brand, has been acquiring land through outright purchases as well as forming partnerships with landowners for joint development. In its latest operational update, the company informed that it has added four projects in Pune and Bengaluru, having Rs 5,500 crore of GDV (gross development value). During the first six months of this 2024-25 fiscal, the company has added projects worth Rs 16,600 crore, which is more than 75 per cent of its full year guidance of Rs 21,000 crore. The company had acquired three land parcels in the MMR and Pune during the April-June quarter to develop projects with a revenue potential of Rs 11,100 crore. Out of the total 7 land acquisitions, the company did not provide details
Shapoorji Pallonji Real Estate, Kanodia to develop 1.74 acre luxury project
1728987423 from BIZSTNDRD
Shapoorji Pallonji Real Estate (SPRE) has formed a joint venture with Kanodia Group's real estate venture Kreeva to develop a luxury residential project in Gurugram. The land is located at Sector 46, Gurugram. Spanning across 1.74 acres, the project will consist of luxury apartments, targeting homebuyers in the National Capital Region (NCR), the company said in a statement. Venkatesh Gopalakrishnan, Director Group Promoter's Office, MD & CEO, Shapoorji Pallonji Real Estate (SPRE), said, "We are excited to partner with KREEVA (Kanodia Real Estate Venture Arm) to bring our expertise in real estate development to Gurugram's Sector 46". This collaboration is in line with the company's vision of expanding its footprint in key markets across India, he said. "This is our second project in Gurugram, and we aim to create a landmark that will redefine the skyline of the location and provide an unparalleled living experience," Gopalakrishnan said. Gautam Kanodia, founder of Kreeva and ...
Pvt equity investment in real estate down 4% to $2.3 bn in Apr-Sep: Anarock
1728984367 from BIZSTNDRD
Private equity investments in the Indian real estate sector declined 4 per cent to USD 2.3 billion in the first half of this fiscal year due to lower inflow in office assets, according to Anarock. Real estate consultant Anarock noted that the total number of deals declined to 17 in April-September this year from 24 in the corresponding period of the preceding year. Shobhit Agarwal, MD & CEO of ANAROCK Capital, said, "Private equity investments in offices are primarily driven by foreign investors, which have tapered down due to global factors such as geopolitical tensions and elevated interest rates." However, he added that the aggregate numbers and the dominance of foreign investors in the Indian real estate remained largely stable due to the ADIA/KKR investment in the Reliance Retail warehousing assets. Private equity investments stood at USD 1.2 billion in the first half of 2020-21 fiscal; USD 2 billion in H1 2021-22; USD 2.8 billion in H1 2022-23; USD 2.4 billion in ...
Bellway hails planning changes as councils get £68m for brownfield homes
1728982927 from GUARDIAN
Under-pressure housebuilder says drive to increase UK housing stock could generate long-term growth Business live – latest updates The under-pressure builder Bellway has hailed the government’s planning system revamp, arguing it will “unlock” new housing across the country, as councils received £68m to construct thousands of homes on disused brownfield sites. In comments released as it reported a sharp fall in revenues and profits, the UK housebuilder said the drive by the deputy prime minister, Angela Rayner, to increase Britain’s housing stock could help generate long-term growth for the company. Continue reading...
Slate Asset Management Expands European Essential Real Estate Platform With Grocery Portfolio Acquisition in Portugal
1728976289 from FPOST
LONDON — Slate Asset Management (“Slate” or the “Firm”), a global alternative investment platform targeting real assets, today announced that it has expanded its European essential real estate strategy into a new market with the acquisition of a portfolio of 12 grocery properties in Portugal (the “Portfolio”) valued at approximately €150 million from seller LCN […]
John Wood hosts open house at new agricultural center in Baylis
1728953348 from AG NEWS
… house on Monday for its agricultural center in Baylis. The event … learn more about JWCC’s agricultural programs. Attendees got a tour … can follow a pathway through agricultural business, animal science, we even …
What is the funding promised at Labour’s UK investment summit?
1728943654 from GUARDIAN
Government says £63bn of private-sector commitments made at summit, in addition to public investments Elton John and Michelin meals: Labour pulls out all the stops to woo investors The government has said its first international investment summit since Labour’s general election landslide has secured a total of £63bn of pledges to plough money into the British economy. The investments announced, which include the £63bn of private-sector promises as well as public investment, include: £6.3bn on datacentres, including a £1.9bn datacentre campus at Didcot in Oxfordshire. £21.7bn on carbon capture and storage, spread over 25 years. This public funding, announced in the run-up to the summit, is expected to leverage in £8bn of private sector investment. £24bn on clean energy. This pledge, announced last week, will see Scottish Power’s Spanish owner, Iberdrola, double its green power investment over five years. More than £3bn on transport infrastructure, including DP World investing up to £1bn in its London Gateway container port operation, after a controversial row with the transport secretary, Louise Haigh. Manchester Airports Group is investing more than £1.1bn in London Stansted airport. £27.8bn in public investment, representing the total funds managed as Labour’s national wealth fund is merged with the existing UK Infrastructure Bank. The combined entity will be based in Leeds. Continue reading...
Analyzing Agency REITs
1728927408 from ADVSRPERSP
Agency REITs are not for buy-and-hold investors. They tend to perform well in specific economic and interest rate environments and poorly in others. I believe the current bullish steepening shift in the yield curve could offer investors opportunities with the agency REIT sector.
Mission Valley Bank Opens New Branch in Burbank, Expanding Its Commitment to Community-Focused Business Banking
1728923952 from BANKING
… the days of traditional banking—where relationships mattered and … an era where many banks have moved toward automation … providing personalized, high-touch banking services to businesses in … -to-community-focused-business-banking-302273831.html SOURCE Mission …
NYC’s Worldwide Plaza Owners Seek Deal on $940 Million Mortgage
1728915046 from BLOOMBERG
The owners of Manhattan’s Worldwide Plaza, including SL Green Realty Corp. and RXR, are in talks to modify a $940 million senior mortgage on the office tower after the debt was transferred to a special servicer, according to a person familiar with the matter who asked not to be identified discussing private talks.
Building Affordable Housing Isn't Easy, Says Zonda's Wolf
1728913742 from BLOOMBERG
Ali Wolf, chief economist for Zonda, says fixing the nation's affordable housing shortage won't be easy. It's been a key issue in the US presidential race this year. She speaks to Bloomberg's Sonali Basak. (Source: Bloomberg)
Huge Opportunities in UK's Energy Transition & Housing, Says Lloyds Banking Group CEO
1728906582 from BLOOMBERG
Lloyds Banking Group CEO Charlie Nunn says investors are interested in the UK but need stability and clarity from the government on the future of the country. "We have £200 billion worth of pension assets we manage on behalf of Briton pensioners. We need to put that money to work," he said. Nunn spoke to Bloomberg's Francine Lacqua on the sidelines of UK International Investment Summit in London. (Source: Bloomberg)
Equity investments in Indian real estate up 46% to $8.9 bn in Jan-Sep: CBRE
1728904516 from BIZSTNDRD
Equity investments in Indian real estate rose 46 per cent to USD 8.9 billion during January-September this year, according to CBRE. Real estate consultant CBRE noted that the equity investment in real estate is the highest since 2018 calendar year. Equity investments include those by private equity funds, pension funds, sovereign wealth funds, institutional investors, real estate developers, real estate fund-cum-developers, investment banks, corporate groups, and REITs, etc. As per the data, the equity investments in real estate stood at USD 5.8 billion in 2018; USD 6.4 billion in 2019; USD 6 billion in 2020; USD 5.9 billion in 2021; USD 7.8 billion in 2022; and USD 7.4 billion in 2023 calendar year. Investment activity in India's real estate market scaled a new peak in January-September 2024, on the back of a resurgence in capital deployment during the June quarter, Anshuman Magazine, Chairman & CEO - India, South-East Asia, Middle East & Africa at CBRE, said. "Sustained ...
Egypt: Banks, mortgage finance companies pump $1.55bln into low-income initiative in September
1728894308 from BANKING
Egypt - Banks and finance companies participating in … report revealed that the 22 banks participating in the initiative pumped … the cost of compensating the banks for the difference in the … of Egypt (NBE) led the banks participating in the real estate …