Real Estate

  Bloomberg New York’s financial regulator has issued subpoenas to two companies with ties to Apollo Global Management LLC as part of an inquiry into housing transactions for low-income buyers. The New York State Department of Financial Services subpoenaed ARM Manager LLC, an indirect Apollo subsidiary, and the real estate investment trust it manages, Apollo Residential Mortgage Inc., asking for ...

AP Builders ramped up construction of new homes in April, suggesting that the market remains solid despite sluggish economic growth at the beginning of the year. Housing starts climbed 6.6 percent to a seasonally adjusted annual rate of 1.17 million units, the Commerce Department said. The increase makes up for much of March’s 9.4 percent drop in starts, a decline ...

  Bloomberg The biotechnology industry’s growth is providing the chance to attain attractive returns on commercial property in markets from Boston to Munich to Shanghai, according to Taimur Hyat, chief strategy officer for PGIM, Prudential Financial Inc.’s $1 trillion asset-management arm. “Biotech is causing a revolutionary change in the type of real estate opportunities we are seeing,” he said in ...

  Bloomberg Ikea, the world’s biggest furniture retailer, plans to sell about €900 million ($1 billion) of European retail parks surrounding its stores, according to people with knowledge of the matter. Ikea has hired Cushman & Wakefield Inc. to help market the assets, two of the people said. Josefin Thorell, a spokeswoman for Ikea, confirmed that the company plans to ...

  Bloomberg Home prices rose in the most Chinese cities in more than two years in April, with gains in second-tier cities surpassing advances in larger hubs. New-home prices excluding government-subsidized housing climbed in 65 cities, compared with 62 in March, among the 70 cities tracked by the government, the National Bureau of Statistics said on Wednesday. That’s the most ...

  AFP Unions and employers in Germany’s construction industry on Wednesday agreed a pay hike of around five percent for some 750,000 workers in the sector. The employers’ federation, ZDB, and the union IG Bau said they have agreed a pay increase of 4.6 percent for workers in the west of the country in two stages over a period of ...

  Bloomberg The appetite for midcentury modern homes never seems to abate—at least not according to the real estate agents who sell them. “Midcentury modern was one of the biggest home design trends in 2015 but has only continued to pick up steam in 2016,” says Kerrie Kelly, Zillow Digs home design expert. According to a study, homes with “Midcentury” ...

  EMIRATES BUSINESS MBLM, the Brand Intimacy Agency focused on strategy, design, creative and technology, announced the successful launch of a comprehensive real estate branding program for One Central, a mixed-use, multi-billion-dollar project. One Central is the latest real estate development from Dubai World Trade Centre (DWTC). The 540,000 m2 master plan encompasses commercial, residential, hospitality and entertainment components, and ...

  Bloomberg Canadian consumer confidence fell for the first time in eight weeks as readings on job security and the economic outlook deteriorated, telephone polling shows. The Bloomberg Nanos Consumer Confidence Index dropped to 57.3 in the week ending May 13, from a 2016 high of 57.7 in the previous period. It was the biggest decline since January, as sentiment ...

  Bloomberg Real estate prices in Sao Paulo, Brazil’s biggest market, have bottomed out and should remain near that level until at least next year as Brazil’s recession plods on, according to two of the city’s largest real-estate companies. The outlook is a dismal reflection of business activity in the city, the country’s major financial hub and third-biggest contributor to ...