The coronavirus has changed the way we live our daily lives and has wiped out countless business sectors, including the property market. Brokers, buyers and sellers fight powerfully to do business. Open houses, or at least circumscribed, are being phased out; Brokers are touring the properties through FaceTime for interested clients. And, in the suburbs,…
The real estate industry is being hit by the coronavirus, and it will get worse before it gets better. The effects in the real estate sector will vary according to the sector and the market, and the extent of the effects will depend on the duration of the economic closure. The real estate sectors that…
The Madrid Real Estate Exhibition (SIMA) is postponed. Despite the fact that the 22nd edition of the fair was scheduled to be held between 7 and 10 May in Hall 10 of the Madrid Fair (Ifema), the organization has decided to delay the fair due to the expansion of the coronavirus: the new appointment will…
Since the government decreed the state of alarm, Spanish real estate companies have stopped operating for the public. There is no intermediation between professionals or between individuals. Everything has stopped. Faced with this situation, the real estate agencies ask the Government to suspend the payment of leases for premises and also for housing. From AMADEI…
The state of alert has paralyzed the sales of flats: the real estate agents have canceled the visits and the notaries all the operations that are not considered urgent, among which the signing of merchantings and mortgages are included. Real estate experts, such as the Fotocasa portal, move forward as apartment sales may drop as…
Goldman Sachs has recently unveiled a Blackstone-like alternative investments group, previewing a key element of the strategic plan to be presented at the company’s much-anticipated investor day. In a memo to staff , David Solomon, Goldman’s chief executive, and his two top lieutenants described the Alternatives Capital Markets and Strategy Group as a unique opportunity…
The French family office Zaka Investments has just completed the purchase of a unique property at number 20 of the emblematic Madrid Gran Vía for more than 44 million euros. The asset, which until now hosted offices of the Government of the Community of Madrid, will be transformed into a luxury hotel operated by the…
National Commercial Bank, Saudi Arabia’s biggest lender, has ended talks in order to merge with Riyad Bank, a deal that would have created a lender with more than $200 billion in total assets. The boards agreed to terminate talks, according to a statements to the Saudi stock market, without giving further details. Talks between the…
Dubai: Dubai is all set to host the 12th edition of the annual Arab Strategy Forum (ASF 2019) The event will run under the theme ‘Forecasting the Next Decade 2020-2030’. A series of panels and Q&A sessions with some of the world’s leading personalities on the political and economic stage, including former US Vice President…
The Burj al Arab in Dubai is one of the most profitable hotels in the world, according to the CEO of the Jumeirah Group, the owner of the iconic sail-shaped building. The legendary property was rated the world’s first seven-star hotel by a British journalist when it was officially opened on December 1, 1999. While…
