Britain's commercial property market is returning to life after its post-pandemic freeze, albeit largely at much lower prices. Some big-ticket office properties now on sale will show just where the market is likely to bottom out and how briskly UK deal volumes will recover - especially in the hard-hit office market. How that plays out could in turn signal what awaits other countries still gripped by a deeper downturn. Real estate investor Nuveen has put a 21-storey City of London tower it completed in 2019, informally known as the "Can of Ham" due to its rounded shape, up for sale for 322 million pounds ($419 million), below about 400 million pounds it had sought in 2022, a person familiar with the matter said. Canada's Brookfield is seeking around 500 million pounds for its…

The Southern Suburb of Claremont continues to enjoy low vacancy rates as one of the top performing office and retail markets in Cape Town.Rodes Report Q4:23 emulated this, highlighting Claremont as one of the top three performers in Cape Town among the likes of the V&A Waterfront which reported a low 7% vacancy rate. In addition, the State of Claremont report cited a quick recovery in demand for both office and retail in recent years with Cavendish Square back to pre-pandemic levels. “Claremont has enjoyed a sharp uptick in demand since the Covid-19 pandemic, with the growth of nominal rentals sitting at around 10% over that period (9.8% according to the State of Claremont report),” comments Wes Cowan, managing director for Galetti Cape Town…

Barratt London has unveiled a new two-bedroom show apartment at Bermondsey Heights, offering buyers from around the world – including the Gulf – a taste of what life will be like in one of its contemporary homes. Ideally situated in Zone 2, the 26-storey development takes inspiration from southeast London’s vibrancy, creativity and thriving business ecosystem. Designed by BLOCC Interiors, one of the UK's leading interior design companies, the show apartment celebrates Bermondsey's eclectic charm by displaying a diverse mix of local brands, from up-and-coming boutiques to well-established retailers. Attractive investment proposition The Bermondsey Heights apartments look set to generate significant interest among buyers from the Middle East, many of whom view…

LONDON - British house prices unexpectedly fell in August for their first monthly drop since April but the outlook for the property market is likely to strengthen, Nationwide Building Society, a major mortgage lender, said on Friday.   House prices slipped by 0.2% on the month, Nationwide said. Economists polled by Reuters had forecast prices would rise by 0.2% from July. In annual terms, prices were 2.4% higher than in August last year, the fastest increase since December 2022 - shortly after the "mini-budget" crisis that pushed up borrowing costs - but a smaller gain than the median forecast of 2.9% in the poll. Robert Gardner, Nationwide's chief economist, said the housing market remained subdued but was coping with the increase in interest rates. "Providing the economy…

South Africa’s largest primary JSE-listed real estate investment trust (REIT), Growthpoint Properties, has added its substantial portfolio of retail properties to the Clur Collective asset management support platform and integral shopping centre index. By sharing its significant data set, Growthpoint is supporting the retail property sector to create better shopping centre experiences for consumers and retailers alike, while simultaneously enhancing its own innovative and sustainable property solutions.   “Growthpoint’s inclusion is a milestone for our index and further enhances its standing as a leading independent industry standard and economic indicator,” says Belinda Clur, founder and managing director of Clur International. “It serves as a measure…

“The impact of the buy-to-let frenzy is especially evident in the Western Cape where rental vacancies recently reached a record low of 3.18%,” shares Grant Smee, managing director of Only Realty Holdings. “The same report cites that investment properties contributed a whopping 31.1% of all applications processed in the region.” However, while demand has skyrocketed, Smee shares that not all investment properties will deliver “astonishing rental returns”. “Property investment can be a successful wealth-creation strategy, but it can also be a costly and time-consuming mistake if you rush into it and don’t do your homework.” The rules of property investment Some of the guidelines for property management: - Determine your…

LONDON- Aviva, Legal & General and M&G are ramping up investments in rental homes in Britain, betting on long-term returns in a market where housing demand far outstrips supply, even though the country's new Labour government could impose tougher regulations. Institutional investment in Britain's rented housing sector is playing catch up, as it accounts for just 2% of the total rented stock, as opposed to more than 35% in Germany and the U.S., according to Savills. The rented sector - which includes student housing and retirement homes - has fared better than the wider commercial property market, which is facing tough conditions after a period of soaring borrowing costs and changing working patterns. "Investors are really keen on all these living sectors, it's a bit like the…

Cape Town's Northern Suburbs has been experiencing a significant squeeze in the rental market as demand for rental properties in areas like Durbanville, Bellville, and Brackenfell has skyrocketed in recent years, leading to a notable shortage of available stock and rising rental prices.According to Rowan Alexander, managing director of the Alexander Swart Property group, the shortage of available rental stock has led to a very competitive market where properties in good condition and realistically priced are often snapped up within days of being listed – if not sooner. “Agents are reporting multiple applications for each property, often on the day of listing, with potential tenants even offering above the asking rental price to secure a desirable…

Dar Global, the Dubai-based luxury property developer listed on the London Stock Exchange, has partnered with The Trump Organization to bring the Trump Tower to Jeddah skyline.   This project marks the second Trump collaboration following last week’s announcement of the Trump International Oman project within the AIDA development, a $500 million mixed-use real estate project. The Saudi project also marks the debut of the company in Jeddah, which has largely operated internationally as the global arm of Saudi Arabia’s biggest developer Dar Al Arkan. According to Dar Global, the Trump development aims to target the luxury Saudi market and international investors. Following its listing on the London Stock Exchange (LSE) last February, Dar Global currently has a portfolio…

Adrak Developers has announced a significant partnership with the Ministry of Housing & Urban Planning for the development of Neighborhood 12 D (NH 12 D), featuring over 300 high-end residential units spread across a land area of 56,166 sq m within Sultan Haitham City in Oman.   A mega development, Sultan Haitham City will come up on a 15-million-sq-m area, featuring 20,000 residential units along with key modern lifestyle amenities as well as ample green space.   The model of Sultan Haitham City features sustainable lifestyles embracing an architectural vision to accommodate all segments of society, giving them access to all social and recreational facilities and earning them a feeling of belonging.   The city will focus on 12 global standards on quality of life…

Global hospitality major Hilton has partnered with UAE lifestyle developer Al Hamra for the launch of its key project - Waldorf Astoria Residences Ras Al Khaimah - in the northern emirate. It is set to open in 2026. This landmark development marks the debut of the first Waldorf Astoria Residences as part of a managed resort in the UAE, setting a new benchmark for luxury living in the Northern Emirates, said a statement from Al Hamra. Located within the award-winning Waldorf Astoria Ras Al Khaimah resort, the branded residences will feature 43 exclusive luxury homes. The RAK developer said the project will redefine prestigious living, with thoughtfully curated furnishings, various private amenities, and signature residence owner benefits. The development’s palatial interiors are…

The real estate sector in Oman is experiencing steady growth, with trading volume in 2023 increasing 6%. This growth is expected to continue in the coming years owing to recent announcements of large projects, particularly Sultan Haitham City. The sector is expected to attract about 70% of the total foreign direct investment (FDI) in Oman in the coming years.   Data from the National Centre for Statistics and Information shows the total value of real estate trading in Oman was close to RO587.5mn in the first quarter of 2024.   Investments from Kuwait were the highest in 2023 amounting to RO26.7mn across 319 real estate deals. India followed with RO12.2mn in 70 transactions and United Arab Emirates investments worth RO5.3mn across 319 transactions.   Younis bin Khasib…