Real Estate

Bloomberg Singapore home prices dropped for a tenth quarter, posting the longest losing streak in almost two decades, as tighter mortgage curbs cooled demand in Asia’s second-most expensive housing market. An index tracking private residential prices fell 0.7 percent in the three months ended March 31 from the previous quarter, matching the longest series of losses since 1998, according to …

Bloomberg GFH Financial Group ( GFH ), a prominent regional financial group, announced that it has signed an agreement with Palace Revive Developments Limited worth £100 million to be a key partner in the prestigious No. 1 Palace Street development in central London, a project being developed by Northacre, the leading British developer. Under the agreement, GFH will become a …

Dubai / Emirates Business Hilton Hotels & Resorts opened Hilton Alexandria King’s Ranchon Friday. The hotel marks Hilton Worldwide’s 18th in Egypt, showcasing the company’s commitment to expanding its operations and further strengthening its presence in the country. “As we continue to spearhead the hospitality industry in Egypt and around the world, we’re proud to expand our world-class offerings,” said …

Bloomberg Mort Zuckerman, who co-founded Boston Properties Inc. in 1970 and has been its chairman since 1997, will leave the company’s board next month following its annual election of trustees. Zuckerman, 78, won’t seek re-election at the company’s annual meeting, Boston Properties, the biggest U.S. office real estate investment trust, said. In honor of his “long and dedicated service,” Zuckerman …

Reuters Anbang Insurance Group Co’s unexpected withdrawal this week of its $14 billion offer to buy Starwood Hotels & Resorts Worldwide Inc is a wider blow to the unprecedented drive by Chinese companies to acquire North American and European assets. Fresh disclosures by Starwood on Friday showed how Anbang’s hard-charging Chairman Wu Xiaohui backed out of the deal even after …

Bloomberg U.K. mortgage approvals fell less than expected in February, a sign that demand for housing remained resilient before tax changes take effect in April. Banks advanced 73,871 loans, compared with 74,085 in January, which was the highest level in two years, the Bank of England said in London on Thursday. While this was the first fall in five months, …

DUBAI / Reuters Kuwait Projects Co (KIPCO), the Gulf state’s largest investment company, expects revenue growth to pick up this year, helped by its core investments in banking, insurance, broadcasting and real estate, it said on March 30. Vice chairman Faisal al-Ayyar said in a statement the company expected revenues to rise by a high single-digit percentage in 2016. That …

AMMAN / EMIRATES BUSINESS Following the debut of its dedicated on-site sales centre and residential mock-up units, Saraya Aqaba has announced the official launch of sales for the project’s idyllic residences. The launch of residential sales was underscored by the debut of Saraya Aqaba’s new marketing campaign, and was celebrated during a stylish cocktail event that welcomed an array of …

RIYADH / REUTERS Australia’s largest privately owned hotel management company StayWell Hospitality Group (SWHG) On March 29 announced the signing of a management agreement to open and operate the company’s first Park Regis properties in Makkah Saudi Arabia. Expected to open in the second quarter of 2018, the remarkable two hotels boast 286 and 344 guest rooms respectively (630 rooms …

Bloomberg Han Fantong, an accountant, beat almost 60 other bidders to buy a three-bedroom home in Melbourne in November for A$930,000 ($709,000). He had an advantage — full funding from his parents back in China. Han, 32, an Australian permanent resident, bought the house on 688 square meters of land in Ringwood East, about 30 kilometers east of Melbourne’s business …