Investing
U.S. April Construction Spending Increases
Gen Y Prefers Energy Efficient Homes
U.S. Government to Auction off Lighthouses
Two foreign investors have purchased a minority stake in the famous General Motors Building in New York for about $1.4 billion, according to several media reports. Empire State Building IPO Plan Approved; To Be Listed on NYSE
The long debated and controversial appeal to take the legendary Empire State Building, public has finally received all shareholder votes needed to approve the plan. The building will be listed on the New York Stock Exchange (NYSE), according to a regulatory filing, Wednesday, May 29. Morgan Stanley Hoping to Raise $3 Billion for Global Property Fund
Morgan Stanley, the international leader in financial services is reportedly gearing up to revive one of its property funds, Morgan Stanley real estate funds (Msref) to take advantage of a strengthening economy and property market. It hopes to raise capital worth $1 to $3 billion from potential investors for the global fund. China’s Foreign Exchange Administration, SAFE to Invest in American Real Estate
China’s State Administration of Foreign Exchange (SAFE) is reportedly planning to invest a part of its $3.4 trillion foreign exchange reserves in the American real estate market on account of a steady growth in its property market, according to several reports. InterContinental Hotel Group Opens its 200th Hotel in China
InterContinental Hotel Group (IHG), the world's largest hotel group by room count, just inaugurated its two hundredth hotel in China, Tuesday May 28 marking thirty years of its presence in the country. Cuba Set to Get Luxury Golf Course Project; To be Designed by Tony Jacklin
It has been a long time since Fidel Castro, the Cuban Communist revolutionary, played a few strokes of golf with his radical counterpart, Che Guevara and fifty years since the former ordered all the golf courses to be shut down because he thought that the game was a hobby for the elites. However, times have changed and the island of Cuba has decided to cater to the demand of affluent tourists rather than comply with the late president’s orders. Cuba’s government has approved a luxury golf course project which will be designed by golfing legend, Tony Jacklin. Fake 'Pastor' Charged in Houston Real Estate Investment Scheme
A self-proclaimed pastor from Houston ran a religious-themed investment program that turned out to be a scam and has led him to be charged with 24 counts of fraud, according to reports. Blackstone and Prologis to Acquire $960 Million Warehouse Portfolio
A unit of Blackstone Group LP, a popular real estate firm and Prologis, a real estate Investment Trust has agreed to purchase a 17 million square feet warehouse portfolio worth $960 million, according to several media reports. Bill Ackman led Investor Group Buying Manhattan Duplex Penthouse for $90 Million
A group of investors being led by Hedge Fund manager, Bill Ackman is under contract to buy a plush duplex penthouse in Manhattan’s One57, a 90 story building, still under construction, for around $90 million. Empire State Building IPO Plan on the Verge of Shareholder Approval
The controversial move of taking the historic Empire State Building public is almost on the verge of gaining majority approval from shareholders, as 79.6 percent of unit-holders have voted for the plan.
