Amazon pledges $2 billion for affordable housing in three US cities, Real Estate News, ET RealEstate

SEATTLE: Amazon has announced $2 billion in loans and grants to secure affordable housing in three U.S. cities where it has major operations, including a Seattle suburb where the online retail giant employs at least 5,000 workers. Amazon said it would give $185.5 million to the King County Housing Authority to help buy affordable apartments […]

Australia home prices end rocky 2020 on recovery track, Real Estate News, ET RealEstate

SYDNEY: Australian home prices climbed for a third straight month in December as 2020 ended on a strong note across major cities and regional markets, with analysts expecting more gains this year as buyers outnumber sellers. The turnaround from the COVID-19-led crunch has provided a much-needed windfall to consumer wealth and confidence, with the country’s […]

Sweden aims to plug housing gap by converting empty stores and offices, Real Estate News, ET RealEstate

File photo STOCKHOLM: Sweden may have too many shops and offices after the pandemic. It doesn’t have enough homes. It spies an opportunity. A seismic shift towards online shopping and working from home has been painful for many businesses, but has given the Nordic nation the chance to address an intractable social and economic ill: […]

Home prices in Hong Kong fall 0.6% in October, Real Estate News, ET RealEstate

HONG KONG: Private home prices in Hong Kong eased 0.6% in October, weighed down by a bigger drop for large apartments, official data showed on Thursday. The fall last month compared to a revised 0.4% gain in September, according to data from the Rating and Valuation Department. Prices have risen 0.4% so far this year. […]

IKEA investment arm in talks to buy commercial properties in European cities, Real Estate News, ET RealEstate

STOCKHOLM: IKEA‘s Ingka Investments is in talks to buy commercial property in prime locations in several big European cities after it finalised its first-ever such acquisition last month, its managing director said. The investment arm of Ingka Group, which owns most IKEA stores, is pushing into the real estate market as part of IKEA’s shift […]

South Korea to convert hotels into flats to address rental home shortages, Real Estate News, ET RealEstate

SEOUL: South Korea is converting hotels and offices into rental units in its latest attempt to address nationwide outcry over soaring rents, targeting an increasing number of single, young renters struggling to find affordable homes. The government said on Thursday it will add 114,000 homes for public housing on lease within the next two years […]

Buyers find it hard to sell condos amid housing squeeze in Canada, Real Estate News, ET RealEstate

File Photo TORONTO | OTTAWA: Eager to move his young family into a house with a backyard amid the pandemic, Dale-Paul Jordan listed his Toronto condo for sale last month and prepared to start bidding on detached homes. But the condo didn’t sell or get a single viewing. And when another seller in the building […]

WeWork’s revenue dips 8% to $811 million in Q2 FY21, Real Estate News, ET RealEstate

NEW YORK: WeWork Companies LLC’s revenue declined in the third quarter but its cash burn slowed, a company memo showed on Thursday, with management confident the shared-workplace provider can weather the hit to the office sector from COVID-19. Quarterly revenue slid 8% from the second quarter to $811 million, while the company posted cash burn […]

Workspace Group swings to loss as customers downsize due to virus crisis, Real Estate News, ET RealEstate

Representative Image BENGALURU: Workspace Group on Wednesday swung to a first-half loss and pushed back a decision on full-year dividend as the office space provider struggled with a rise in customers vacating and downsizing due to the coronavirus crisis. Work-from-home policies and the economic fallout from the pandemic have hurt margins for office space providers […]

Swire Properties sells Hong Kong office tower to Gaw-led consortium for $1.27 billion, Real Estate News, ET RealEstate

HONG KONG: Swire Properties Ltd has agreed to sell an office tower in eastern Hong Kong Island to a consortium comprising a fund managed by real estate private equity firm Gaw Capital Partners and other partners for HK$9.85 billion ($1.27 billion). Hong Kong-listed property arm of Swire Pacific Ltd has agreed to sell the entire […]

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