Real Estate

  Bloomberg Developers started a record number of central-London office projects in the six months through March as they tried to capitalize on rising rents. Construction work began on 51 office buildings during the period, Deloitte LLP said in a report on Wednesday. About 14 million square feet (1.3 million square meters) of space is now under construction, 28 percent ...

  Bloomberg Newly elected Mayor Sadiq Khan has dropped the Greater London Authority’s objection to London City Airport’s plan to purchase land it will need if its expansion plans are approved by the U.K. government later this year. The Labour mayor, who was elected last week, is withdrawing a key obstacle used by his Tory predecessor, Boris Johnson, to oppose ...

  Bloomberg Last month a Texas entrepreneur took to Craigslist with a surprising offer: For $50,000, the author of the listing would part with 5 percent of a real estate crowdfunding startup that he said would generate profit within three months. Seemant Nakra, who posted the ad, said it hasn’t led to new investment in his Austin-based company, Equity Brick, ...

  Reuters Emaar Hospitality Group, the hospitality and leisure subsidiary of global developer Emaar Properties, has marked its ambitious expansion to Saudi Arabia with the unveiling of its first hotel and serviced residence property in Jeddah Gate. The 14 storey Vida Jeddah Gate hotel tower and the 25 storey Vida Residences Jeddah Gate tower are centrally located in Jeddah Gate, ...

  Bloomberg Anna Pesch had long assumed she’d be a renter for years to come, but this month she’s buying a three-bedroom house near the German city of Cologne. She’s got Mario Draghi to thank for that. “We didn’t want our money to keep going into rent,” said Pesch, a 32-year-old speech therapist who started looking for a home two ...

  Bloomberg Brazil’s Itau Unibanco Holding SA plans to move out of its New York City office on the 50th floor of the General Motors Building, which features views of Central Park and some of the highest rents in Midtown, a person familiar with the matter said. The firm, Latin America’s biggest bank by market value, is searching for a ...

  Bloomberg It’s not an accident that Manhattan’s newest senior living facility will rise just blocks away from the gilded co-ops of Park Avenue. Their residents might live in the building someday. Welltower Inc., the biggest U.S. senior-housing owner by market value, is seeking to push into New York, where there’s a dearth of options available for the elderly and ...

  Bloomberg U.K. house prices fell in April after a surge of rental investors rushing to beat a tax change bolstered the market earlier in the year, according to Halifax. Average values dropped 0.8 percent from March, the mortgage lender said in a statement on Monday. That reduced the annual gain to 7.8 percent from about 11 percent. On a ...

  Reuters British finance minister George Osborne said that homeowners would face a “significant hit” from lower house prices and higher mortgage costs if voters decided to leave the European Union in a referendum in June. “This isn’t just a big question about who we are as a country. This goes to the heart of people’s financial security,” Osborne said ...

  Bloomberg Two of Australia’s largest lenders, which tightened home loans to some foreigners, said they uncovered mortgages backed by questionable overseas-income documentation. Australia & New Zealand Banking Group Ltd. and Westpac Banking Corp. have identified issues with some loans that rely on foreign income for approval, the two lenders said in separate e-mails. The statement comes after the two ...