Survey: Commercial Real Estate Recovery to Accelerate

While commercial real estate has been dealt a debilitating blow because of the pandemic, there are glimmers of hope that a significant recovery may soon take hold. The Urban Land Institute’s Real Estate Economic Forecast, which was released Tuesday during ULI’s virtual 2020 fall conference, shows that the industrial and retail sectors are particular bright spots that are expected to rebound strongly over the next couple of years. A panel of experts at the virtual meetings sounded off on where they see commercial real estate heading.

Industrial is the “star” of commercial real estate. Total annual returns for the sector are projected to be 4.5% in 2020, 6.2% in 2021, and 10% in 2022, according to the ULI survey, which includes insights from more than 30 economists and analysts at the nation’s leading real estate organizations. The flourishing segment of e-commerce storage is expected to continue to surge, said Suzanne

Read More Read more

North Korea’s Kim pledges thousands of new homes in storm recovery effort

By Sangmi Cha

SEOUL (Reuters) – North Korean leader Kim Jong Un promised to help typhoon-hit areas recover and to build at least 25,000 houses over the next five years, state media said on Wednesday.

Visiting one of the worst-hit areas of North Korea, Kim expressed regret over the more than 50-year-old houses in which people have been living and urged the military to embark on a more ambitious construction plan, KCNA said.

The visit came after Kim appeared to shed tears at the weekend as he thanked citizens for their sacrifices, in the most striking demonstration yet of how he is relying on his “man-of- the-people” persona to tackle his country’s deepening crises.

The military has reached a construction level of 60% for at least 2,300 houses in the Komdok area in South Hamgyong province, northeast of the capital, Pyongyang, the state media said.

Kim said new houses were

Read More Read more

North Korea’s Kim pledges thousands of new homes in storm recovery effort: state media

By Sangmi Cha

SEOUL (Reuters) – North Korean leader Kim Jong Un promised to help typhoon-hit areas recover and to build at least 25,000 houses over the next five years, state media said on Wednesday.

Visiting one of the worst-hit areas of North Korea, Kim expressed regret over the more than 50-year-old houses in which people have been living and urged the military to embark on a more ambitious construction plan, KCNA said.

The visit came after Kim appeared to shed tears at the weekend as he thanked citizens for their sacrifices, in the most striking demonstration yet of how he is relying on his “man-of- the-people” persona to tackle his country’s deepening crises.

The military has reached a construction level of 60% for at least 2,300 houses in the Komdok area in South Hamgyong province, northeast of the capital, Pyongyang, the state media said.

Kim said new houses were

Read More Read more

Judge In Charge Of Oi Group Recovery Approves Multiple Asset Sale, Including That Of 5 Data Centers Being Executed By Piemonte Holding

SAO PAULO, Oct. 6, 2020 /PRNewswire/ — Fernando Viana, the Rio de Janeiro court judge in charge of Oi Group (OIBR.C) judicial recovery, approved a multiple asset sale of R$22 billion last Monday (5), following Creditors support. The deal includes 5 Data Centers being purchased by Brazilian financial group Piemonte Holding.

Judicial approval of Oi Group asset sale (Data Centers, Oi Mobile and Towers) comes after the creditors general assembly held in September, and a statement from Rodrigo Abreu, CEO of Oi, on Friday, October 2nd, saying that the sale to Piemonte Holding, as well as the others, are a “deal done, with few steps remaining.”

The important approval from Judge Fernando Viana also comes right after a shareholders meeting of Piemonte Holding financial group ensured and expanded support to the acquisition from Oi in Judicial Recovery.

Other than voting on Oi deal support, Piemonte Holding

Read More Read more

US Housing Recovery Continues In August, New Home Sales Up 4.8%

New home sales were better than expected in the United States but the growth was not evenly distributed across regions


Olivier DOULIERY

Text size

New US home sales came in well above forecasts in August with a 4.8 percent gain, as the housing market continues to recover from the coronavirus downturn, the Commerce Department said on Thursday.

August’s annualized rate of just over one million sales, seasonally adjusted, came after the upwardly revised annual rate of 965,000 sales reported in July and underscores how housing has managed to climb back from the hit taken during the Covid-19 downturn.

The growth was however not spread evenly, with month-on-month sales surging in the South 13.4 percent, and climbing 5.0 percent in the North, but declining slightly in the West and by a massive 21.4 percent in the Midwest.

“Home sales are well supported by solid demand and a favorable interest rate environment,”

Read More Read more