Thursday, 27 March 2025

News

Abu Dhabi Investment Authority Buying 42 Marriott Hotels

The Abu Dhabi Investment Authority (ADIA) will be buying around 42 Marriott International hotels that are controlled by the Royal Bank of Scotland (RBS). The AIDA might pay around $992 million for the hotels.

New Development Projects Drive Lend Lease Profits Up 39 percent

Lend Lease, the largest property building firm in Australia has recorded a high profit of 39 percent at the end of December 2012. The notable profit seems to source from two prominent development projects that the company has taken on - The Barangaroo South Development Project in Sydney and a redevelopment project in London.

Lebanon Island on Dubai’s ‘The World’ Sold for $9.5 Million

Lebanon Island – a part of the man-made archipelago – The World, Dubai has sold for a good $9.5 million to a consortium of investors. It was purchased in 2008 for around $16.3 million by Wakeel Admed Azmi, an Indian entrepreneur. However, he sold it at a loss of $6.8 million.

EDITOR'S PICKS

Philadelphia Homeowners See Tax Hikes After City's Reassessment

More than half a million properties in Philadelphia faced a new real estate assessment on Friday, reported The Philadelphia Inquirer. As a result, many property owners are facing higher tax rates.
By Ansa Varughese
Chinese Real Estate Magnate Funds Princeton International Boarding School

A boarding school that's backed by a Chinese real estate mogul is looking to attract international students reported The Times of Trenton.
By Ansa Varughese
Hines Selling Two Midtown Manhattan Office Towers

Famous International real estate firm, Hines has put up two of its commercial towers located in the heart of Manhattan, New York for Sale. The two building that have been listed for sale are – 499 Park Avenue and 425 Lexington Avenue.
By Rapti Gupta
Investors’ Confidence in Private Real Estate Funds Rises, Preqin Report

In a survey conducted by alternative asset research company, Preqin, it was revealed that investment in private real estate fund was growing and investors’ confidence in the sector was returning.
By Rapti Gupta
Kenneth Griffin Buys Big in Palm Beach, Florida

Kenneth Griffin, President and CEO of Citadel Investment Group has purchased four sprawling properties worth $130 Million in Palm Beach, Florida. Lawrence Moens of Lawrence A. Moens Associates had brokered all the four deals that were finalized in December 2012.
By Rapti Gupta
MAC Marketing Solutions Apologizes for Manipulating Real Estate News Story (VIDEO)

Mac marketing Solutions, a Vancouver based real estate firm in Canada, has apologized for manipulating a news story which showed two of its employees posing as potential apartment buyers from China. The story was aired on CTV and CBS on Thursday, Feb 14,2013.
By Rapti Gupta
Christina Aguilera’s Beverly Hills Pad under Contract?

The “Your Body” singer, Christina Aguilera, might have sold her Beverly Hills home for the same price that she had asked for - $13.5 million. The home might have found a buyer as listing records show change in status.
By Rapti Gupta
Ronald Reagan’s Former Pacific Palisades Home Sells above Asking Price

Former president of America, Ronald Reagan’s former Pacific Palisades home has sold for $5.2 Million on Thursday, Feb 14, 2013. The home first hit the market in December 2012, asking for $4.9 Million. After a short term on the open market, the home has sold for $300,000 more.
By Rapti Gupta
Gleacher & Co Inc. Sells Its Mortgage Branch

Gleacher & Co. Inc. said it is selling ClearPoint Funding Inc., its mortgage branch, to Ocwen Financial Corp., Reuters reported.
By Ansa Varughese
Former San Diego Mayor, Maureen O'Connor, Gambled Away $1 Billion, Blames Brain Tumor

Former San Diego mayor gambled away more than $1 billion, USA Today reported. Former San Diego mayor gambled away more than $1 billion, USA Today reported.
By Ansa Varughese