Global Real Estate

A longtime CEO of the Summit Association of Realtors who stole more than $415,000 from the nonprofit organization has been sentenced to five years in prison and must pay back the money. The Summit County District Attorney’s Office announced Tuesday that 62-year-old Sue Frank was sentenced after pleading guilty to felony theft. Frank, who led the association for nearly 20 ...

Global property portal Lamudi announced Tuesday that it had acquired MyProperty.ph, a popular online and print real estate brand in the Philippines. The deal size was not disclosed, but Lamudi executives in the Philippines tagged the transaction as the “biggest acquisition in online real estate”. Lamudi is one of the 36 subsidiaries of German-based Internet company Rocket Internet “It’s actually a ...

Pune, India: Five students, including four foreign nationals, were allegedly duped of Rs 2.78 lakh by a real estate agent and his aide, on the pretext of helping them get flats on rent in Kondhwa between February and April. The agent, Punit Nandwani, and his aide (name not known) are on the run. Two of the students are from Nigeria, ...

Every year, billions of dirhams are generated from the sales of luxurious flats in Dubai. But where does the money come from and who are the wealthy buyers? According to Christie’s International Real Estate, there are more high-net-worth individuals (HNWIs) snapping up prime property in Dubai than in traditional hotspots in the United States or United Kingdom. In fact, Dubai ...

Egyptian Prime Minister Ibrahim Mehleb oversaw the signing of a protocol that grants the Egyptian government more than 50,000 housing units for social housing, within the United Arab Emirates (UAE) developmental projects in Egypt. The protocol was signed by UAE Minister of State Sultan Ahmed Al-Jaber, the Chairman of the Coordination Office of UAE-funded Development Projects in Egypt, and Egyptian ...

Proposals to give houses to Emiratis regardless of their marital status, making the last 10 days of Ramadan a holiday and the issue of domestic violence are on the agenda for the Federal National Council session on Tuesday. The UAE Cabinet has approved the FNC’s recommendation on housing, which called for every Emirati, married or unmarried, male or female, to ...

Manager of Revenue Enhancement and Resource Mobilization at the Ministry of Local Government and Community Development Calvert Thomas says the Government is willing to work with persons who may have challenges to meet their property tax obligations. Thomas, in an interview with JIS News, said Jamaicans who find themselves in situations where they cannot pay their property tax may apply ...

Two of China’s top developers are teaming up in a move that underscores consolidation in an industry hit by a market downturn. China Vanke, the country’s largest homebuilder, has formed a partnership with leading commercial property developer Dalian Wanda Group for strategic cooperation on land purchases and joint project development. The shares of both companies rose after the announcement on Thursday. ...

A company led by David Edelstein, the head of New York real estate group TriStar Capital, acquired a property in Miami’s hot Wynwood neighborhood for $10.23 million. The price equates to $588 per square foot for the retail space at 3322 N. Miami Ave., just on the edge of Wynwood near Midtown. That may sound pricy, but other Wynwood properties ...

In 2009, at least five cities were ahead of Bengaluru—India’s technology heartland—on the list of the country’s top real estate markets. Not anymore. A survey by property data company, PropEquity, has found that the southern Indian city is now the country’s leading real estate destination, beating Mumbai, Pune, Thane, Noida and Chennai, which were ahead of it six years ago. The lists are based ...