International
KSK Land and Kempinski to Manage 8 Conlay Mixed-Use Development in Kuala Lumpur
Kempinski Hotels, Europe’s oldest luxury hotel group, and KSK Land Sdn Bhd, a subsidiary of KSK Group Berhad recently announced the signing of a management agreement for the upscale 8 Conlay mixed-use development in Kuala Lumpur, Malaysia.
Construction Begins on Omniyat Group’s $680M Luxury Residential Tower in Dubai
Omniyat Group, one of the most prolific high-end property developers in the Gulf region, has celebrated the groundbreaking of its new residential megaproject in Dubai.
W.P. Carey Completes First Australian Investment with Sale-Leaseback Agreement for Industrial and Agricultural Portfolio
Global net-lease real estate investment trust W.P. Carey has completed yet another international acquisition. The company recently announced that it closed a 20-year sale-leaseback deal with Inghams Enterprises Pty. Limited, for a portfolio of 31 properties in the Australian market.
Safra Group Pays More Than $1B for The Gherkin in London
The Safra Group, an international network of companies led by Brazilian billionaire Joseph Safra, recently announced the purchase of 30 St. Mary Axe in London, also known as The Gherkin due to its unusual shape.
JW Marriott Launches 115-Room Luxury Resort in India
JW Marriott Hotels & Resorts announced the opening of JW Marriott Mussoorie Walnut Grove Resort & Spa.
William’s Court Kanata Lakes Apartments in Ottawa Sells for $47.6M
Killam Properties has recently acquired the 152-unit Kanata Lakes Apartments II, a newly constructed luxury rental building in Kanata, Ontario, in the outskirts of Ottawa.
Trump International Hotel & Tower Baku to Open in June 2015
Trump Hotel Collection recently announced the development of Trump International Hotel & Tower in Baku, Azerbaijan. The 33-story luxury hotel will be located on Hasan Aliyev St. in the Nasimi District of Baku, in close proximity to the Zaha Hadid-designed Heydar Aliyev Center, and is slated for completion in June 2015.
W.P. Carey Completes Acquisition of Class A HQ Property in Oil-Driven Norwegian Market
By Alex Girda, Associate Editor Stavanger, Norway—Global REIT W.P. Carey Inc. recently announced the acquisition of an office asset in the fastest growing market in Southern Norway. The company specializes in corporate sale-leaseback, build-to-suit financing and the acquisition of single-tenant net-lease properties, a strategy it respected with the acquisition of the headquarters of Apply AS in the city of Stavanger. Two of the REITs that the entity manages, namely CPA:17—Global and CPA:18—Global completed the purchase of the asset in a deal worth around NOK 662 million (roughly $100 million). Apply AS is a local oil and gas industry topside engineering…
Four Seasons Hotel Moscow Brings Contemporary Flair to the Iconic Hotel Moskva
One of the most iconic hospitality spots in the entire Russian Federation is set for a rebirth as the historic Hotel Moskva has been reopened as the Four Seasons Hotel Moscow.
Brookfield Multiplex Begins Construction on $88M Seniors Community in Sydney’s Vaucluse Suburb
Global contractor Brookfield Multiplex has broken ground on an $88 million (AUD $100 million) seniors community in Sydney’s Vaucluse suburb.