Prologis, Inc. (PLD) shares are trading higher after the company reported better-than-expected third-quarter financial results, fueled by a strong demand outlook. The company exceeded consensus estimates for Core Funds from Operations per diluted share and revised its FY24 guidance upward. Prologis also highlighted improving supply conditions and its dominant position in the market.
Clipper Realty Inc. (CLPR) stock surged 9.9% in the latest trading session, driven by a surge in trading volume and optimistic investor sentiment fueled by positive earnings expectations. The company is projected to report strong revenue growth and, importantly, has seen a significant upward revision in its FFO estimates, a key indicator of future stock performance.
HoSkar Night, Asia’s premier networking event series for hospitality and real estate professionals, is expanding to Manila on November 13th, 2024, at the Grand Hyatt Hotel. This event will bring together key players from across Southeast Asia to foster connections, discuss industry trends, and explore exciting opportunities in the region’s booming hospitality and real estate markets.
The Maharashtra Housing and Area Development Authority (MHADA) 2024 lottery results have been announced, with several prominent Marathi celebrities securing homes. Among the winners is Bigg Boss 16 finalist Shiv Thakare, who acquired a luxurious residence in Powai. Actress Gautami Deshpande and actor Nikhil Bane also secured homes in the lottery, highlighting the popularity of the scheme among the entertainment industry.
Morguard Corporation has acquired a 20% interest in Telus Garden, a Class AAA office building in Vancouver’s revitalized eastside central business district. This strategic acquisition reflects Morguard’s commitment to sustainable investments and strengthens its presence in Canada’s premier office market.
Alka Bhatia Hiranandani, sister of Bollywood star Akshay Kumar, has purchased two luxury apartments in Mumbai’s Juhu area for a whopping ₹72 crore. The flats, located in the Prime Beach CHSL project, boast a combined area of 5240 sq ft and come with 10 car parking spaces. This purchase highlights the high-end real estate market in Mumbai and the growing wealth of the Hiranandani family, known for their successful construction business.
Ares Management Corporation has announced a $3.7 billion acquisition of GCP International, a global alternative asset management firm. The deal, which involves a mix of cash and Ares shares, is expected to significantly expand Ares’ real estate portfolio, nearly doubling its assets under management. The acquisition is anticipated to close in the first half of 2025, pending regulatory approvals.
Ceres Enterprises, a prominent Midwest hotel developer, has successfully converted three of its hotels to the Wyndham brand, adding to its already diverse portfolio. The move was facilitated by Brown Gibbons Lang & Company (BGL), who provided financial restructuring and advisory services. This strategic shift is expected to drive significant revenue growth and enhance the guest experience.
Modon Holding, an Abu Dhabi-based company, will lead the development of Ras El Hekma, a massive 170 million square meter project in Egypt. With an estimated investment of $110 billion, the project aims to become a smart, sustainable, and inclusive urban hub, attracting tourism, business, and technology. It is expected to generate substantial economic growth and job opportunities for Egypt.
In a momentous ceremony attended by President His Highness Sheikh Mohamed bin Zayed Al Nahyan and Egyptian President His Excellency Abdel Fattah El-Sisi, ADQ, an Abu Dhabi-based investment and holding company, appointed Modon Holding as the master developer for the Ras El Hekma megaproject in Egypt. This ambitious project, spanning 170 million square meters, aims to transform Ras El Hekma into a vibrant, sustainable, and inclusive urban community.
