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Saudi Arabia’s One Gigabit project initiative, part of the country’s ambitious Vision 2030 plan, is considered by some analysts to be one of the world’s largest tourism-related infrastructure projects.
Plans to invest around SAR 1 trillion (US$ 26 billion) by the end of 2026 present a potentially huge opportunity for branded hotel companies to enter the country or expand existing formats. Ed James, Middle East content and research director at business consultancy MEED, said Saudi Arabia had become “the most discussed market for projects in the Middle East, and it’s a very significant capex programme.”
black stone Acquired two of the UK’s most prominent industrial properties – Trafford Park and Heywood Distribution Park in the North West – from US investment giant Hubbard Management for around £480m.
According to sources, the deal for the two properties in the Manchester area with a combined area of more than 6 million square feet has been completed in the past few days. Trafford Park is estimated to fetch between £275m and £280m, while Heywood Distribution Park is estimated to fetch between £200m and £205m.
Paris ranks 39thday The property is most attractive to wealthy investors on the global list due to its extraordinary pricing and growth prospects.
Researchers from Junot Fine Properties and Knight Frank released 17day Their edition of The Wealth Report tracks 100 global markets. Paris real estate prices will rise by 6.2 per cent in 2022, well above the global average of 5.2 per cent, making the French capital more expensive than Sydney but less expensive than Los Angeles, the study said.
PfizerThe German headquarters of the world’s second largest pharmaceutical company has been relocated, covering an area of more than 6,000 square meters, and the monthly rent will reach a record 50 euros per square meter.
The company will move from Linkstraße 10 in Berlin to Friedrichstraße 110 this winter, at rents well above the prime rents recently quoted in broker reports. The company declined to give any further details, saying it held discussions with regional works councils as it negotiated a new hybrid working model for its 650 employees.
real estate giant Hines is offering its commodity to Canadian investors, allowing Canadians to participate in its investment program, which has a diversified portfolio of global real estate assets, all located outside of Canada, with a total value of approximately $3.83 billion.
Houston-based Hines is providing access to the Canadian wealth management market through its broker-dealer affiliate Hines Securities Inc. and New York-based iCapital, according to a statement from Hines. The portfolio is spread across eight countries, including the United States and Europe, with nearly two-thirds comprised of industrial and residential properties.
Amusement parks near Los Angeles, Minneapolis and Washington, D.C., recently asked teens to be supervised by adults later in the day after a wave of violence at the parks ahead of the busy summer season.
At least eight theme parks owned by Cedar Fair adopted policies this month that restrict access to teens.Kings Dominion in Doswell, Virginia; Knott’s Berry Farm in Buena Park, California; and Valleyfair near Minneapolis are among the parks owned by Cedar Fair that have approved new regulations requiring 15 Guests under the age of 10 must be accompanied by an adult after 4pm
This report is compiled from CoStar’s news publications in the US, UK, Canada, France and Germany.
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