TURKEY > UAE based Rotana opens up two new hotels Centro WestSide and WestSide Arjaan by Rotana in Turkey

rotana logo One of the leading hotel management companies in the Middle East, Africa and Turkey, Rotana has opened up two new hotels namely Centro WestSide and WestSide Arjaan in the European side of Istanbul. Both the hotels were in partnership with Mar Yapı which is one of Turkey’s leading innovative real estate development companies. The two new properties are strategically located More …

CHINA > Germany based Thyssenkrupp Elevator opens a new plant and test tower in Zhongshan City, China

thyssenkrupp logo   Marking a major milestone in the company’s ambition, Thyssenkrupp Elevator opens its newest plant and test tower in Zhongshan City, China. Inaugurating the world’s highest elevator test towers in Zhongshan, China, Andreas Schierenbeck, CEO at thyssenkrupp Elevator said the following: “It is always our ambition to be close to our customers, and the testing process is important to ensure More …

USA > Bermuda based Brookfield Property Partners is set to acquire all the outstanding shares of common stock of USA based GGP for $9.25 billion

Brookfield property planners logo   Brookfield Property Partners is set to acquire all the outstanding shares of common stock of USA based GGP for $9.25 billion other than the shares currently held by Brookfield Property Partners and its affiliates. The deal consists of $9.25 billion in cash and about 254 million shares in Brookfield Property and the new REIT, for a 61 percent cash More …

NEPAL > World Bank and the Government of Nepal signed three financing agreements for $440 million to invest in the country’s post-earthquake housing reconstruction, livestock innovation, and technical education and vocational training

World bank logo For the country’s post-earthquake housing reconstruction, livestock innovation, technical education and vocational training, the Government of Nepal and the World Bank have singed three financing agreements for $440 million. According to World Bank Country Director for Bangladesh, Nepal and Bhutan, Qimiao Fan: “These three agreements are important for Nepal because they boost job creation, including for many women, by investing More …

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 …

UK > Australia based Lendlease and Canada Pension Plan Investment Board (CPPIB) launch build-to-rent investment partnership with an initial target to invest £1.5 billion ($2.076 billion) in U.K.

LENDLEASE LOGO Lendlease, a leading property and infrastructure group and CPPIB have set an initial target to invest £1.5 billion ($2.076 billion) in the U.K. With an investment of c.£450 million in the next phase of new homes that will be for rent, CPPIB will invest c.£350 million for 80 per cent and Lendlease will invest the balance. The development is at More …