ABU DHABI, UAE: Aldar Properties has launched today its first residential community in the heart of Saadiyat Island – Saadiyat Reserve. The AED 722 million community features 306 infrastructure enabled land plots open to buyers of all nationalities. This is the first land plot development to be launched on Saadiyat Island since the introduction of…
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Emaar launches Ease by Emaar, a short-term rental concept for travelers
DUBAI, UAE: Emaar, a Dubai-based global property developer and provider of premium lifestyles, today announced the launch of Ease by Emaar – a streamlined short-term rental concept that provides global travellers exceptional stays in elegant homes handpicked by Emaar in their integrated communities. During the launch event, the developer also unveiled ‘South Beach’, a premium…
Ascott opens Southeast Asia’s largest coliving property lyf Funan Singapore
SINGAPORE: CapitaLand’s wholly owned lodging business unit, The Ascott Limited (Ascott), has opened lyf Funan Singapore, the largest coliving property in Southeast Asia. It is also the world’s first property under Ascott’s new ‘lyf’ coliving brand that is managed by millennials for the millennials and millennial-minded. lyf Funan Singapore is the first of Ascott’s record-breaking…
Frasers Centrepoint Trust to join the FTSE EPRA/NAREIT Global Developed Index
SINGAPORE: Frasers Centrepoint Asset Management Ltd (FCAM), the manager of Frasers Centrepoint Trust (FCT), announced that FCT will be included in the FTSE EPRA/NAREIT Global Real Estate Index Series (Global Developed Index) from 23 September 2019. Richard Ng, Chief Executive Officer, FCAM, said, “We are delighted that FCT will be joining the FTSE EPRA/NAREIT index.…
GuocoLand launches Meyer Mansion
SINGAPORE: GuocoLand Limited has announced the concept and design of Meyer Mansion. The sales gallery will open on 7 September 2019 for preview, and the development will launch for sale on 13 September 2019. Meyer Mansion will be the latest edition of GuocoLand’s collection of luxury residential properties in prime districts, following such highly regarded …
CDL and DBS Bank set benchmark on innovation-focused financing
SINGAPORE: City Developments Limited (CDL) has secured a S$250 million SDG Innovation Loan, in the form of a three-year revolving credit facility provided by DBS Bank Ltd. (DBS). This is a first-of-its-kind concept that CDL has pioneered for a sustainability-linked loan to accelerate innovative solutions that have a positive impact on SDGs. The SDG Innovation…
OUE increases stake in Gemdale Properties and Investment Corporation
SINGAPORE: The Board of Directors of OUE Limited through its wholly-owned subsidiary, Beacon Limited, Tuesday acquired 959.861 million ordinary shares in the capital of Gemdale Properties and Investment Corporation Limited representing 6.0% of the issued share capital of Gemdale for an aggregate cash consideration of approximately HK$ 815.9 million. Pursuant to the acquisition, OUE Limited…
Cairn sells of 282 PRS apartments at The Quarter at Citywest for €94 million
LONDON: Cairn Homes plc, the leading Irish homebuilding company, announced the forward sale of 282 multifamily private rental sector (PRS) apartments at The Quarter in Citywest to Urbeo for a total cash consideration of €94 million. The 282 units, across six apartment blocks, are currently under construction with a phased delivery commencing in late 2020.…
SPDI completes sale of assets in Greece
LONDON: Secure Property Development & Investment (SPDI), the South Eastern European focused property company, announced the completion of the sale of its Victini Logistics property in Greece to Brook Lane Capital. As announced on 9 July 2019, the Company agreed to sell Victini at a deemed valuation of €12.5 million, including €10.3 million of debt,…
AM Best affirms credit ratings of Delvag Versicherungs-AG
AMSTERDAM: AM Best has affirmed the Financial Strength Rating of A (Excellent) and the Long-Term Issuer Credit Rating of “a” of Delvag Versicherungs-AG. The outlook of these credit ratings (ratings) remains stable. The ratings reflect Delvag’s balance sheet strength, which AM Best categorises as very strong, as well as its strong operating performance, neutral business…
AM Best affirms credit ratings of Polskie Towarzystwo Reasekuracji
AMSTERDAM: AM Best has affirmed the Financial Strength Rating of A- (Excellent) and the Long-Term Issuer Credit Rating (Long-Term ICR) of “a-” of Polskie Towarzystwo Reasekuracji S.A (Polish Re). The ratings reflect Polish Re’s balance sheet strength, which AM Best categorises as strong, as well as its adequate operating performance, limited business profile and appropriate…
Long term issuer credit rating of Arab Orient Insurance upgraded
LONDON: AM Best has upgraded the Long-Term Issuer Credit Rating to “bbb+” from “bbb” and affirmed the Financial Strength Rating of B++ (Good) of Arab Orient Insurance Company. The ratings reflect Arab Orient Insurance’s balance sheet strength, which AM Best categorises as strong, as well as its adequate operating performance, neutral business profile and marginal…