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New York City FC has secured a 20-year naming rights deal with Etihad Airways for its new stadium, set to open before the 2027 MLS season, which will be named Etihad Park. This partnership, which builds on their collaboration since 2014, is seen as a pivotal commercial agreement for the club. The stadium, located in Queens, will not only host soccer games but also concerts and festivals, contributing to the local community and economy, while being part of a larger development that includes affordable housing and a public school.
Värde Partners has acquired Unity Investment Management for $2 billion, aiming to build a portfolio of outpatient medical facilities. This follows their earlier purchase of a $700 million collection of medical offices. The acquisition will enhance management and support future investments in the sector, including surgical centers and clinics.
Swiss retail banks are thriving, with improved financial conditions driven by rising interest margins and profitability, according to a study by Lucerne University. Small institutions lead the rankings, while customer loyalty hinders mortgage switching despite a strong desire for home ownership among younger generations. However, many face significant financial hurdles, including a lack of equity and low income, complicating their aspirations for property ownership.
A Zug-based company, Nest Temporary AG, which rented out high-priced business apartments in Zurich, has gone bankrupt, leaving many of its furnished units empty, particularly in District 4. The future of these newly renovated apartments remains uncertain amid the city's housing shortage, with attempts to contact the company's founder and property owners proving unsuccessful.
Ganesh Infraworld has launched its Rs 99-crore IPO with a price band of Rs 78-83 per share, set to open on November 29 and close on December 3. The West Bengal-based company, specializing in construction and allied services, plans to allocate Rs 70 crore of the proceeds for working capital and the rest for general corporate purposes. With an order book of Rs 574.9 crore, it currently has 41 ongoing projects.
Antoine Arnault, heir to the LVMH luxury empire, aims to elevate Paris FC, a second-tier football club, to compete with the Qatar-backed Paris Saint-Germain. His takeover comes at a crucial time for French football, which faces financial struggles, a lackluster media deal, and ongoing internal conflicts.
Khan Market in New Delhi has maintained its status as one of the world's most expensive high-street retail locations, with annual rents reaching $229 per square foot. This reflects India's strong economic growth, which has led to a 9% increase in retail rents, outpacing the global average of 4.4%. In comparison, the priciest retail area globally is Via Montenapoleone in Italy, where rents have surged to $2,047 per square foot.
Khan Market in New Delhi has maintained its status as one of the world's most expensive high-street retail locations, with rental costs reaching $229 per square foot annually as of September. This figure surpasses Toronto's Bloor Street by $7, reflecting a 9% increase in rents across 16 retail areas in India, compared to a global average growth of 4.4%.
Germany's central bank is closely monitoring risks associated with commercial property investments amid a weak economic outlook. While losses on loans are primarily concentrated among a few banks and insurers, liquidity risks in open-ended funds could exacerbate the situation.
India's real estate sector is poised for a significant boost, with equity investments expected to exceed $10 billion in 2024, up from $7.4 billion last year. This surge is driven by strong leasing activity, which rose 46% in the first nine months of the year, fueled by global corporations establishing offshore operations and sustained demand from domestic businesses, particularly in IT and manufacturing.
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