Real Estate

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 ...

Bloomberg Home values in 20 U.S. cities kept climbing in January, a sign the limited supply of available properties may push prices out of reach for some buyers. The S&P/Case-Shiller index of property values increased 5.7 percent from January 2015, following a 5.6 percent gain in the year ended in December, the group said on Tuesday in New York. Nationally, ...

Bloomberg Lennar Corp., the second-largest U.S. homebuilder, reported a higher-than-forecast profit for its fiscal first quarter as U.S. job gains bolstered demand for real estate purchases. Net income for the three months through February was $144.1 million, or 63 cents a share, compared with $115 million, or 50 cents, a year earlier, the Miami-based company said in a statement. Lennar ...

RIYADH / Reuters Saudi Arabia-based investor Al Murjan Group has bought London’s Kinnaird House office building for 85 million pounds ($121 million) from German fund manager GLL Real Estate, executives involved in the transaction said on Tuesday. Al Murjan plans to refurbish the 71,500 square foot building, located at 1 Pall Mall East near Trafalgar Square, and exit at a ...

LONDON / Reuters Fosun International is set to close a deal worth about £300 million ($426.4 million) on Wednesday to buy the Thomas More Square complex in London in its biggest real estate transaction in Europe.The office complex on the edge of the City of London would add another landmark estate to Fosun’s portfolio which already includes London’s Lloyds Chambers ...

WASHINGTON / AP U.S. renters saw their monthly leases rise at a significantly slower pace in February, a sign that new construction may be starting to limit housing costs for apartment dwellers. Real estate data firm Zillow said on Wednesday that median rent rose a seasonally adjusted 2.6 percent from a year ago. The median rent nationwide was $1,383 a ...

Bloomberg St. Patrick likely wasn’t much of a partier , even as the day we celebrate him is full of indulgences. That said, if traditional Irish-American-style corned beef and cabbage aren’t enough of a fête for you, perhaps you’d like to pick up the ultimate party spot: an Irish castle. Glin Castle, in west County Limerick, sits on 380 acres, ...

WASHINGTON \ AP More Americans signed contracts to buy homes in February, with purchases surging in the Midwest ahead of the traditional spring buying season. The National Association of Realtors (NAR) said that its seasonally adjusted pending home sales index rose 3.5 percent to 109.1, rebounding from a 3 percent decline in January. The index has reached its highest level ...