Howard Lutnick, the head of Cantor Fitzgerald, is aiming to integrate Grubb & Ellis with Newmark to form what he hopes will be one of the leading commercial real-estate-services companies in the world.
Four years before it hosts the 2016 Games, an Olympian effort is under way in Rio de Janeiro to make over the city, which also will host the World Cup finals in 2014.
An effort is under way in Toronto to reclaim 2,000 acres of the city’s shoreline, once the home of tanneries, scrap yards and cement factories, in one of the world’s biggest waterfront revitalization efforts.
Cheng Yu-tung, the 86-year-old patriarch of property titan New World Development, has handed the reins of the empire he co-founded to his eldest son, becoming the first of the city’s aging real-estate tycoons to retire.
Hines, one of the world’s largest real-estate groups in terms of assets, is preparing to spend $1.6 billion on buildings in the U.K., doubling its assets in the country in an effort to diversify away from riskier acquisitions.
The price tag for One World Trade Center, the signature skyscraper under construction at Ground Zero in New York, has risen to more than $3.8 billion, making it by far the world’s most expensive new office tower.
CEO Brett White as played a major role in building the company into the world’s largest real-estate services and brokerage firms, with 2010 revenue of $5.1 billion.
New World Development proposes to raise as much as US$1.59 billion from a rights issue in Hong Kong, in a move aimed at strengthening its capital base.
When Terremark Worldwide looked for a new European data-center location, it found Amsterdam’s airport city to be a natural fit. Terremark’s reasons for choosing Schiphol help explain why it is emerging as one of the leading airport cities in the world.
Falling U.S. home prices have shrunk equity so much that the proportion of their homes that Americans actually own is near its lowest point since World War II. Excerpt from: Americans’ home equity near a record low
Retailers such as Abercrombie & Fitch, Gap, Apple and American Eagle are flocking to Hong Kong, one of the world’s top luxury shopping cities, driving up rents for retail space in their effort to market themselves to mainland Chinese consumers.
Higher borrowing costs may finally lead to falling prices in the world’s least-affordable housing market, one that so far has resisted government efforts to cool it down.
Dubai’s Burj Khalifa, the world’s tallest tower, may never break even. But recent innovations are now improving the economic feasibility of future skyscrapers, including Hong Kong’s International Commerce Centre.
Wolseley, the world’s largest plumbing- and building-products merchant by market value, said it had swung to a first-half profit as demand rebounding in most of its markets.
By Zahra Hankir June 20 (Bloomberg) — Dubai’s benchmark stock index rose the most in 10 weeks and Egyptian shares gained, leading a rally in Middle East markets on growing confidence that Europe will contain its debt crisis.