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New York-based WP Carey concluded the closure of an amended and restated its multicurrency unsecured revolving credit facility, summing to $2.0 billion, alongside €215 million ($235.8 million) and a £270 million ($345 million) term loans. Multicurrency unsecured revolving credit facility is a type of credit that allows borrowers to draw down, repay, and redraw loans […]
Financial service provider Abu Dhabi Commercial Bank (ADCB) signed a deal, on Thursday, to sell 80% of stakes of its subsidiary, Abu Dhabi Commercial Properties (ADCP) to Nine Yards Plus Holding, a subsidiary of Ethmar International Holding PJSC (EIH). The deal is valued at $160.9 million (AED 591 million) of ADCP and the bank will […]
Real estate administration solutions provider Crestbridge Bahrain rebranded the company’s name to Yasira, with an objective to accelerate growth and renewal of its corporate vision, on Monday. The company said rebranding reflects a strategic initiative to better serve distinctive needs of its clients in Bahrain, Saudi Arabia and the broader Gulf Cooperation Council (GCC) region. […]
Real estate firm Aldar Properties (Aldar) acquired London Square, a Europe-based developer, on Friday, valued at 1.07 billion United Arab Emirates dirhams ($291 million) marking its first international acquisition beyond the MENA region. The Abu Dhabi-based firm said it aims to accelerate growth, diversifying revenue streams, unlocking synergies, and driving cross-selling opportunities, along establishing a […]
Real estate firm Q Holding said its board approved to acquire the list of companies and assets including stakes in Modon Properties and Abu Dhabi National Exhibitions Co (ADNEC) through issue of convertible bonds in an AED 25.6 billion ($6.9 billion) deal. Q’s board, on Tuesday, agreed to acquire the entire shareholding of ADQ Real […]
Wealth management firm Maxim Investment Group signed an agreement to acquire real estate company MarQ Communities on Monday, where MarQ Communities will be appointed as project developer for North Coast village Oceanside California, with a total investment of 120 billion Egyptian pound ($3.9 billion). The newly built partnership signifies Maxim Investment Group’s dedication in completing […]
European asset management firm Amundi appointed Domenico Aiello, financial chief as new chief executive of Amundi Italy on Friday, and Aurélia Lecourtier will replace Aiello, effective from November 1. The newly named chief executive has worked with Amundi since 2017 and was in the role of financial chief since 2019, said the company. Aiello joined […]
Dubai’s rental market witnessed an increase in rent activity in past two years, ending the negative growth cycle that began in mid-2015 till late 2021, said Dubai rental report 2023, from commercial real estate service provider CBRE on Thursday. The report stated current rental market of Dubai has created a difference between new and renewed […]
Emirates-based real estate firm, CORE, on Tuesday said that it has partnered with a Chicago-based commercial real estate firm Cushman & Wakefield to expand its services in the UAE and GCC region. Effect immediately, CORE will be rebranded as ‘Cushman & Wakefield Core’ aligning their shared vision and commitment to innovation in the global real […]
Dubai’s secondary property market is said to display signs of a slowdown, recording a drop of 10.2% in August 2023, compared to a year ago after experiencing explosive growth on the back of high investor demand, based on a report of Zawya news agency. Despite the persistently high levels of inflation in the global economy […]
Century Casinos Inc said it completed the sale of its four real estate assets to subsidiaries of Caesars Palace Las Vegas owner, VICI Properties Inc for CAD 221.7 million (USD $162.4 million) in cash, on late Wednesday. The company said with closing of the deal, Century Canadian Portfolio was added to the existing triple-net master […]
Real estate bridge lender Calmwater Capital said it will buy Florida-based Banyan Cay Resort & Golf Club on Wednesday. With completion of the deal, U.S. Real Estate Credit III, affiliate of Calmwater Capital has introduced financial and professional resources to reopen the golf course and club and complete the hotel, spa and fitness complex said […]
