SOUTH AFRICA > US based MRI Software, a real estate software company, is set to acquire MDA Property System, a property management and accounting software company based in Cape Town, South Africa

MRI logo For expanding its fast growing presence in EMEA region, MRI software is set to acquire South Africa based MDA Property Systems. MDA Property Systems dominates the South African real estate market with approximately 5000 users and 70 percent of South Africa’s listed real estate investment trusts (REITs) using the company’s software. Founded in 1990, MDA Property System is a property management and More …

UAE > Saudi Arabia based Dar Al Arkan and Italy based Roberto Cavalli partner to construct AED 800 million ($217.8 million) skyscraper on Dubai Canal

DAAR logo The largest listed real estate developer in the Kingdom of Saudi Arabia, Dal Al Arkan, and Italy based luxury brand, Roberto Cavalli have teamed up to build a AED 800 million ($217.8 million) skyscraper on Dubai Water Canal in the Business Bay area. Roberto Cavalli will design the interiors of the lavish 34 story waterfront skyscraper which is also named More …

USA > Germany based Allianz Real Estate buys 43% in 1515 Broadway, New York from SL Green Realty Corp

Allianz logo Allianz Real Estate, a subsidiary of Allianz Group, is set to invest approximately $416 million cash proceeds to SL Green for 1515 Broadway. According to the contract, SL Green Realty Corp will sell 43% interest for the 1515 Broadway building. The transaction values the property of 1.86 million-square-foot, Class-A Times Square office building at $1.950 billion or $1045 per square More …

CHINA > Carlson Rezidor Hotel Group signs a management agreement for Radisson Zhengzhou with Henan Longzhu Hotel Management

Carlson Rezidor logo new The 210- key property that is scheduled to open in the first quarter of 2022, Radisson Zhengzhou is located at Zhengdong New District, Zhengzhou city in China. Carlson Rezidor Hotel Group signs a management agreement for this hotel with Henan Longzhu Hotel Management Co., Ltd. Zhengzhou is an emerging tier-one city with a hub for industries such as railroad, aviation, More …

CHINA > Invesco buys a majority stake in e-Shang Redwood (ESR) for RMB 2bn ($305.1 million)

invesco logo Forming a joint venture with the pan- Asian logistics developer, Invesco has bought a majority stake in Chinese logistic portfolio firm e- Shang Redwood(ESR) for RMB 2bn ($305.1 million). According to the two companies, the joint venture was designed for acquisition and ongoing asset management of the portfolio that consists of grade-A stabilized logistics real estate assets in China. According More …

USA > Australia based Westfield Corporation has teamed up with Greystar to construct an apartment complex in San Diego, California

Westfield logo photoshop The team of Westfield Corporation, headquartered in Sydney, and Greystar, headquartered in South Carolina have embarked to develop and manage a 300 apartment tower in San Diego, California. The project is to be estimated to be completed by 2019 and is worth to be approximately $200 million. This venture is Westfield’s first venture into residential development which will be followed More …

INDIA > Singapore’s Ascendas-Singbridge Buys 16 Acre Land in Pune Kharadi Locality for Rs 200 Crore (US $31.4 million)

ascendas-singbridge Singapore based, Ascendas- Singbridge Group, jointly owned by Temasek Holdings and JTC Corporation (51:49) is planning to build an IT SEZ (Special Economic Zone) park. It has therefore bought a 16 acre land parcel that has a potential of over 3 million square feet commercial space for Rs 200 crore. Ascendas-Singbridge Group has two more IT park in Pune namely: More …

ARGENTINA > WeWork to expand into South American with its first office in Buenos Aires, Argentina

WeWork_logo US based workspace provider – WeWork – is launching its first South American office in Buenos Aires, Argentina according to the company’s news. To be located in Bellini Tower, the shared office space is targeted to be up and running by middle of this year (2017). According to Nearshore Americas, WeWork invested 250 million pesos (approximately US$15 million) for the new office More …