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Nippon Life India Asset Management has acquired two commercial properties in Mumbai's One Lodha Place for Rs 486.03 crore from Macrotech Developers. The purchase includes 52,162 square feet of space and 43 car parking spaces, with a stamp duty of Rs 29 crore. This acquisition highlights the growing demand for office spaces in key micro-markets like Lower Parel, driven by the banking, financial services, and insurance sectors.
Motilal Oswal Wealth Management identifies five key stocks poised to benefit from the upcoming wedding season, predicting a 10-15% upside over the next 3-6 months. The sectors highlighted include Jewellery, Retail, Hotels, and Automotive, with an estimated business of Rs 6 lakh crore from 48 lakh weddings during the November-December period. The selected stocks are Titan, Eicher Motors, Vedant Fashion, Safari, and Lemon Tree.
Blackstone Inc. has acquired interests in a $1 billion loan portfolio from Banco Santander SA. This portfolio finances assets in digital infrastructure, including data centers, as well as projects in renewables and transportation.
Heathrow's CEO, Thomas Woldbye, aims for a final decision on a controversial third runway by the end of 2025, citing the need for increased capacity to support the U.K.'s economic growth. While discussions show positive momentum, the ultimate approval rests with the government amid ongoing environmental concerns and public opposition. The expansion plan includes a new runway and terminal, potentially adding 260,000 flights to the current cap of 480,000 annually.
LondonMetric Property Plc reported a rise in the value of its UK warehouses, driven by increasing rents and declining interest rates. The company's net assets per share increased by 2.1% in the six months ending September, with like-for-like income growing by 1.7%, contributing to a £40.9 million uplift in values.
Real estate in Zurich is experiencing an increase in supply and a decrease in prices, particularly for new builds, which now cost about 10% more than older apartments, down from a 20% premium a decade ago. Buyers are seeing more opportunities for price reductions, with over half of single-family home sales this year closing below the asking price. Additionally, the canton of Zurich is set to update the imputed rental value for tax purposes, likely resulting in significant increases for many property owners.
CK Infrastructure Holdings Ltd. is exploring various opportunities beneficial to the company and its shareholders, amid speculation regarding an investment in Thames Water, the UK's largest water and sewage operator. While not commenting directly on Thames Water, CKI highlighted its financial strength, reporting cash reserves of HK$9.2 billion ($1.2 billion) and a net debt to net total capital ratio of 9.8% as of the end of June.
Marina Bay Sands Pte is seeking to secure a loan of up to S$12 billion ($8.9 billion) to fund its casino resort expansion in Singapore, which would mark the largest financing deal in the city-state's history. DBS Group Holdings Ltd., Malayan Banking Bhd., Oversea-Chinese Banking Corp., and United Overseas Bank Ltd. are coordinating the loan arrangements.
Jefferies is optimistic about the real estate sector, noting a six-month high in residential sales in October, driven by strong festive demand. The firm highlights Godrej Properties, Macrotech Developers, and DLF as top picks, anticipating a 25% growth in pre-sales for FY25 despite a mixed Q2 performance. The sector is poised for significant activity with new launches and a robust project pipeline in the latter half of the fiscal year.
Digital Edge DC, backed by Stonepeak Infrastructure Partners, is seeking a loan of $400 million to $500 million to finance a data center project in India. The company, based in Singapore and operating across Asia, is in discussions with banks for financing that could have a term of five to seven years.
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