WASHINGTON: President Donald Trump hasn’t forgotten his old job — the world’s most-famous real estate developer says he wants the US to acquire the world’s biggest island, according to a report. Trump has expressed interest in the mostly ice-covered landmass located northeast of Canada, asking advisors if it is possible for the US to acquire Greenland, The Wall Street Journal said Thursday, citing people familiar with the discussions. The president has been curious about the territory’s natural resources and geopolitical relevance, the paper reported. Greenland is a self-governing region of Denmark, which colonized the 772,000 square-mile (two-million square kilometer) island in the 18th century, and is home to nearly 57,000 people, most of whom belong to the indigenous Inuit community. There was no official comment from the White House, and the Danish embassy in Washington did not immediately respond to AFP’s request for comment. Some Trump advisors … [Read more...] about Ex-real estate developer Trump wants US to buy Greenland: Report
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NEW YORK: With its free coffee, couches and glass partitions, shared workspace startup WeWork has shaken up both office culture and commercial real estate.Brushing aside questions about its business model, the New York outfit shows no signs of slowing down and is now preparing for its Wall Street debut to raise fresh capital.As recently as this month WeWork was seeking to tap credit markets for US$4 billion to expand its footprint in the market for co-working, according to The Wall Street Journal.When the French startup CybelAngel wanted to open a New York office, WeWork was an obvious choice.With only basic furniture, their current space overlooks Manhattan's tony 5th Avenue, with a corner office next to a small conference room."It's not cheaper" than a traditional office rental, said Jocelyne Attal, CybelAngel's head of operations in New York."But we don't have to make a three-year commitment."She added: "There's security, a reception desk, the building codes are met, there's … [Read more...] about WeWork shakes up commercial real estate
SINGAPORE (BLOOMBERG) - Japan's real estate firms are entering dangerous territory. That's the assessment of S&P Global Ratings, which said in a report on Friday (July 5) that the sector's debt levels now eclipse that of the nation's bubble era. Remember that? It was back in the 1980s, when newspaper headlines proclaimed that the grounds of the Tokyo Imperial Palace were valued at more than all of the real estate in California. "Japan's real estate market is peaking out and ready to head down," S&P said. "Although the conditions in the office leasing market are solid, there are signs of a slowdown in corporate earnings, particularly among manufacturers. In addition, we expect major upticks in central Tokyo office building supply in 2020 and 2023." Companies most at risk are Mitsubishi Estate Co, Mitsui Fudosan Co, Sumitomo Realty & Development Co and Nomura Real Estate Holdings Inc. Although interest rates in Japan have been low for years, domestic lenders have seen their … [Read more...] about Is it bubble time again for Japan’s real estate companies?
REUTERS: The once-sleepy U.S. real estate sector could be poised to continue its revival into the second half of 2019 but investors are selective in their bets on property companies.While residential and industrial Real Estate Investment Trusts (REITs) are the most popular bets, office REITs look less attractive and retail is out of favor.The dividend-rich, slow-growth S&P 500 Real Estate index has risen 18.5per cent so far in 2019, beating the S&P 500's 16.99per cent gain. Unless the tide turns, real estate is on track for its biggest annual advance since 2014.At several points this year and as recently as June 5, the real estate's index's year-to-date gains outpaced even the high-flying tech sector .Sector investors are optimistic that REITs can advance more as long as broader U.S. earnings growth stays weak and interest rates stay low."If the Fed policy is benign and you don't see an acceleration of earnings, (REIT) dividend yields and a steady cash flow are pretty … [Read more...] about Real estate stocks have room to gain, residential in favor
Banks’ real estate loans rise to P2.14 T Lawrence Agcaoili (The Philippine Star) - May 14, 2019 - 12:00am MANILA, Philippines — The real estate exposure of big and mid-sized banks remained manageable, rising by nearly seven percent to P2.14 trillion as of end-September last year, according to the Bangko Sentral ng Pilipinas. The BSP said the increase was notably slower than the double-digit growth recorded in the past five years. The central bank said the real estate exposure of universal and commercial as well as thrift banks was composed mainly of real estate loans with 85.9 percent, while the rest were real estate investments. Commercial real estate loans, which accounted for approximately two-thirds of total loans, drove the increase in real estate exposure. The BSP reported a 7.7 percent increase in real estate loans to P1.84 trillion despite a deceleration in the year-on-year growth for both commercial real … [Read more...] about Banks’ real estate loans rise to P2.14 T