Real Estate

  AP After shuttering his lumber mill for nearly a month when it was surrounded by raging fires in northern Alberta, Northland Forest Products Ltd. President Howard Ewashko sees a silver lining: a pickup in business from rebuilding what was lost. “It certainly helps to have a solid market to sell into when you’ve gone through something like this,” Ewashko ...

  Bloomberg Bank of Canada Governor Stephen Poloz gave one of his bluntest warnings to date about the country’s housing boom, saying Vancouver and Toronto buyers should realize strong price gains probably can’t be sustained by economic fundamentals. “This suggests that prospective homebuyers and their lenders should not extrapolate recent real estate performance into the future when contemplating a transaction,” ...

  Bloomberg Home Afrika Ltd., a Kenyan real estate developer whose stock has dropped 95 percent since 2013, plans to raise 5.5 billion shillings ($54 million) from investors to enable it to complete stalled projects. The only publicly traded property developer in East Africa’s largest economy will ask shareholders at its June 30 annual meeting to approve the sale of ...

  AP A group of Chinese and American investors, who specialize in real estate, hotel and tourism, have bought 80 percent of French soccer club Nice for an undisclosed fee. Club president and former majority owner Jean-Pierre Rivere will retain a 20 percent stake. Rivere said on Friday that the deal will help “secure the future of the club.” Nice ...

  AP Long-term U.S. mortgage rates fell this week after three straight weeks of increases. The drop followed a surprisingly weak employment report that deepened doubts about the economy. Mortgage buyer Freddie Mac said the average 30-year fixed-rate mortgage slipped to 3.60 percent from 3.66 percent last week. That is well below its level a year ago of 4.04 percent. ...

  AP Mutual funds are about to get much more real. A big change is coming in how stock indexes measure the market, one that’s likely to push tens of billions of dollars into real-estate investments, according to estimates. All that cash could drive further gains for a group of stocks that’s already done quite well since the financial crisis. ...

  JEDDAH / Reuters Saudi Arabia will offer foreign and local property developers partnership deals in a vast housing construction programme that aims to build 1.5 million homes over the next seven or eight years, the housing minister said. “We are preparing five or six types of partnership between the ministry and the developer,” Majed al-Hogail told a news conference ...

  Bloomberg Partners Group Holding AG of Switzerland is in exclusive talks to buy French real estate management business Foncia from Eurazeo SA and Bridgepoint, the sellers said in a statement on Thursday. Foncia, which has refocused on real estate services since Eurazeo and Bridgepoint bought it from French bank BPCE SA in 2011, had revenue of €696 million ($793 ...

  Bloomberg RioCan Real Estate Investment Trust, Canada’s largest REIT by market value, is teaming up with Tricon Capital Group Inc. and Diamond Corp. to develop a combined retail and residential project in Toronto’s midtown core, according to people familiar with the deal. The joint venture agreed to buy the real estate — a row of high-end boutiques and a ...

  Bloomberg One of the biggest winners from an Indonesian tax amnesty may turn out to be the shares of real-estate developers, as funds get channeled into investments in the nation’s houses and apartments. Bank Indonesia estimates about 560 trillion rupiah ($42 billion) of undeclared income will be repatriated as a result of the reprieve. In a country where less ...