Real Estate

  DUBAI / Reuters Saudi Real Estate Co has agreed with U.S. firm Starwood Hotels and Resorts to build two hotels next to a district of Riyadh which the government plans to develop into an international business zone. Starwood will manage a five-star hotel under its Westin brand and a four-star hotel under its Element brand, Saudi Real Estate, which ...

  REUTERS Commercial real estate manager NorthStar Asset Management Group Inc , REIT NorthStar Realty Finance Corp and private equity firm Colony Capital Inc have agreed to an all-stock merger that would create a company with $58 billion of assets under management, they said onMonday. NorthStar Realty Finance shares fell 5.8 percent to $12.70, while NorthStar Asset Management dropped 6.5 ...

  Bloomberg On his way to work, Lisbon Mayor Fernando Medina likes to count the dwindling number of empty buildings. Thanks to a tourism and real estate boom, many are being converted into trendy apartments that cater to the growing number of visitors to the city. As some European cities impose restrictions on short-term rentals via websites such as Airbnb ...

  Bloomberg Every state or municipal government will eventually face the question of whether to raise taxes. Since the era of George H.W. Bush, officials answer increasingly “No.” “It’s politically hard to make a case for tax increases, and particularly at a time when people have less money in their pockets,” said Lucy Dadayan, a senior policy analyst with the ...

  Bloomberg When shares of apartment owners fell this week on disappointing revenue projections in New York and San Francisco, it was bad news for the property companies and good news for renters. Well, some renters. Between April 2015 and April 2016, the pace of rent increases slowed in at least 90 percent of luxury ZIP codes in Atlanta, Los ...

TNS Habitat for Humanity of Owensboro-Daviess County is ramping up construction this summer and dedicating several houses to deserving families. RE/MAX Professional Realty Group in Owensboro is participating in its first ever build this year. Manager Michelle Wiesman said the company is excited to be a part of changing families’ lives in the greater Owensboro region. Realtors with RE/MAX fundraise ...

  Reuters Gulf Arab investors, some of the biggest buyers of British real estate, are holding back from new deals because they fear a property price slump if Britain leaves the European Union, according to legal and investment sources. Sovereign and private investors from Qatar, Saudi Arabia, Kuwait and the United Arab Emirates have been prolific buyers of British assets ...

    Bloomberg Europe is rife with castles for sale—ancient dwellings with moats and gothic arches, stone walls, and magnificent gardens, decorated with elaborate wooden built-ins and a couple of armor suits flanking enormous fireplaces. Legit castles. Without a history to warrant such abodes, the United States has mostly had to make due with tacky, castle-themed McMansions. Still, there are ...

  WARSAW / AP Poland’s prime minister announced a new program to provide cheap housing for families on low income, the second project the conservative government has launched to support large households. Beata Szydlo said the “Home Plus” program, which still needs to be adopted by the government and parliament, will be largely financed from a National Housing Program that ...

  Bloomberg Toronto home sales shot to a record in May and prices surged amid fierce competition for single-family homes. There were 12,870 homes sold in May, 11 percent higher than last year, according to the real estate board in Canada’s biggest city. With listings falling 6.4 percent from last year, average prices rose 16 percent to C$751,908 ($581,207). Detached ...