Real Estate

Seoul / AFP A South Korean constructor that jointly won a $20 billion housing deal with Saudi Arabia said on Monday it was confident the project would go ahead despite the impact of slumping oil prices on the Gulf nation’s coffers. Under the deal, for which a memorandum of understanding was signed in Seoul last week, a three-party consortium will ...

Calif / AP Canadians are no longer flocking to California’s sunny Coachella Valley to buy homes since their currency has weakened, and many are putting properties they own up for sale, real estate experts said. The move coincides with a decline in the Canadian dollar since oil prices have plummeted, the Desert Sun newspaper reported on Sunday (http://desert.sn/1RCkkPj ). After ...

Bloomberg Real estate Web portals Leju Holdings Ltd. and SouFun Holdings Ltd. are standing out among U.S.-traded Chinese stocks, rebounding as government stimulus and a recovering property market improves the outlook for growth. Leju has surged 44 percent over the past month in the best performance on the Bloomberg China-US Equity Index, which gained 4.6 percent during the same period. ...

Abu Dhabi / Emirates Business Saadiyat Development and Investment Company (SDIC) awards the landscaping contract of Hidd Al Saadiyat to Gulf Contracting Company (GCC). Hardscaping of the neighborhoods, kicking off in 2016, will include pavement of driveways, pathways and road signage, benches, light poles, and bollards. Furthermore, underground work activities including irrigation, electrical, manholes and concrete bases for signage will ...

Bloomberg Macy’s Inc. named Four Corners Property Trust Inc. Chief Executive Officer Bill Lenehan to its board, enlisting a real estate expert to help the chain figure out what to do with its properties. The 39-year-old will join the board on April 1, the Cincinnati-based company said in a statement. Lenehan, who became CEO of Four Corners last year, has ...

Bloomberg The property market is an animal almost every central banker is worried about and hardly anyone can control. As the Federal Reserve downshifts into go-slow mode while the European Central Bank and other monetary authorities ease, expect to hear a lot of concern about property prices. Here’s the dilemma: How do you cut rates to goose too-low inflation and ...

Bloomberg Shanghai unveiled a package of measures designed to stem a surge in property prices in the metropolis, underscoring how regulators in top-tier cities are shifting gears in an economy where housing has been a brake on growth in recent years. The local government will tighten approval criteria for non-resident homebuyers, raise down-payment requirements for some second homes and ban ...

MIAMI/AFP Former England football great David Beckham has taken a key step towards his goal of launching a Major League Soccer franchise by buying land for a stadium in Miami, one of his partners said. Beckham’s group of investors acquired land in the Overtown neighborhood northwest of downtown in the Florida city. “Big News: We’ve closed on our #Miami stadium ...

Bloomberg Almost a year ago, in May 2015, Michael Jackson’s former Neverland Ranch hit the market. The 12,598-square-foot French Normandy-style home sits on 2,698 acres in the Santa Ynez Valley, northeast of Los Angeles. It has six-bedrooms, a four-acre lake with waterfall, an outdoor barbecue, a pool house, three guest houses, a tennis court, and a 5,500-square-foot movie theater and ...

Bloomberg NorthStar Realty Europe Corp. has hired advisers to offer about $1 billion of properties for sale as the New York-based company focuses on fewer countries, according to a person with knowledge of the matter. The real estate investment trust, managed by an affiliate of NorthStar Asset Management Group Inc., will sell all of its assets outside the U.K., France ...