Real Estate

Raj Kumar and Kishin RK, the father and son duo behind one of Singapore’s biggest property portfolios, are setting up a family office in Abu Dhabi, joining a growing list of rich people helping to cement the Middle East’s status as a haven for the super wealthy.

Toll Brothers Inc. beat expectations for quarterly home orders as the strong stock market provided a lift to the luxury builder’s wealthy buyers, but a profit-margin projection fell short of estimates.

The Pierre, a five-star hotel overlooking Manhattan’s Central Park, is up for sale, according to people familiar with the matter.

Chicago’s bid to become the Silicon Valley of the Midwest has registered some major wins in recent years: Google bought a huge downtown building, PsiQuantum Corp. announced a $1 billion investment in the city, and local startups raised a record $19 billion in 2022.

Another activist investor is urging Macy’s Inc. to take drastic steps to boost its stock price.

Abu Dhabi’s biggest property developer expects the local commercial real estate boom to extend as an influx of firms continues to help the emirate dodge a slump in occupancy rates dogging cities around the world.

The Trump Organization and luxury developer Dar Global Plc plan to build two new luxury projects in Saudi Arabia in a bid to capitalize on the kingdom’s rapidly growing real estate market.

Raine Group plans to close its Hong Kong office and is offering the staff to relocate to Singapore as the New York-based boutique adviser seeks to consolidate its operations in Asia, according to people with knowledge of the matter.

Bond traders are hoping to coast to the end of a volatile year — unless a surprise jump in inflation throws them another curve.

China’s regulators will try to bolster the property market with improved policies on land usage, tax and other financial measures, according to the Xinhua News Agency on Sunday.

Labour plans to “overhaul” the planning system in order to meet its commitment of 1.5 million new homes being built in the UK over five years, deputy prime minister Angela Rayner wrote in the Telegraph.

Housing stock in estates — of varying degrees of luxury — is the fastest-growing segment in the country’s residential property market.

Central banks on four continents will make a final flurry of changes to borrowing costs in the coming week, before Donald Trump’s return to the White House raises the prospect of global trade turmoil.

Debt markets have been in risk-on mode for weeks now, fired up by Federal Reserve rate cuts and the election of Donald Trump to the US presidency. Risk premiums on junk bonds have plunged more than 1 percentage point since early August, and companies launched the sales of around $105 billion of leveraged loans this past week, a record.

In a town-hall meeting on Nov. 29, Hong Kong billionaire Henry Cheng introduced his new pick for Chief Executive Officer to the hundreds of employees gathered virtually, pledging that Echo Huang would help the ailing property developer cut debt and rebuild its residential property pipeline.