Tercot Communities acquires Whitby development project

Tercot Communities announced that it has acquired a position in the dynamic and flourishing Whitby market with a low rise residential development project.

The 14 acre development site is located on Ashburn Road, Whitby. It is situated only 50 kilometers east of Toronto. The central Ontario location is situated in the hamlet of Brooklin and is conveniently connected to highway 407 and highway 412. The site provides excellent access to major markets and is well served by nearby retail, community amenities, and public transit providing direct connectivity to downtown Toronto and beyond.

Joe Valela, principal, Tercot Communities, said, “Tercot continues to focus on strategic development projects across the GTR. Whitby is a diverse and stable economy that includes investments in education, sports, recreational, and cultural facilities.”

Valela added, “Whitby’s closeness to superior transportation and transit accessibility has made it the community of choice for future residents, students and businesses alike and we are excited to be a part of this growth.”

Source: News Wire

Fulya Altunyay/[email protected]

Emaar to build first 3D printed home in Arabian Ranches III

Global real estate Emaar Properties has announced plans to build its first 3D printed home in Dubai.

The company said, this is the first step towards Emaar’s ambition to be a leading adopter of advanced construction technologies. Emaar has awarded the contract to 3D print a model home in Arabian Ranches III. The construction will be facilitated using a local contractor with the goal of building in-country competencies in 3D printing for the property sector.

Building the first 3D printed model home underlines Emaar’s commitment to adopt innovative construction methods to build faster and at a lower cost while achieving higher design and architectural flexibility. Besides, Emaar’s use of 3D printing technology will promote the sustainable use of resources by reducing waste of construction materials and noise pollution.

When complete, the 3D printed model home will serve as a reference point for investors to further understand the concept and appreciate the value add that advanced technology brings to the real estate sector.

Chairman Mohamed Alabbar said: “As the pioneer of integrated communities in Dubai and the trend-setter in the region’s property sector, our plans to embrace 3D printing of homes is an integral part of our digital-first and customer-first strategy.”

Alabbar stated, “Through this, we are not only positioning ourselves as an early adopter of advanced technology but also creating long-term value for our customers as 3D printing brings numerous advantages such as reduced cost of construction, more efficient use of materials and higher levels of sustainability.”

He added,”With 3D printing technology, to be implemented locally using international expertise, we are also supporting the vision of the leadership to build ‘Smart and Sustainable Cities’ that are tech-driven and meet the aspirations of the new generation of customers. It will also help accelerate the innovation ecosystem in Dubai, inspiring start-ups to contribute towards advanced construction technology.”

According to Emaar, the 3D printing is environment-friendly, with sustainable home construction techniques significantly lowering waste and noise pollution during wall construction.

The 3D printed homes will contribute to lower cooling costs as customers can choose the thickness and type of insulation that goes into the walls; the thicker the insulation used, the lower the cooling costs, it added.

Source:Trade Arabia

Fulya Altunyay/[email protected]


SZHP, Iacad distribute 38 houses to low-income Emirati families

Sheik Zayed Housing Programme (SZHP) and The UAE’s Islamic Affairs and Charitable Activities Development (Iacad) have delivered 38 housing units to low-income Emirati families as part of the latter’s Modon Al Khair — the Arabic-language term for ‘cities of goodness’ — initiative, which is being implemented as part of Article 9 within the Fifty-Year Charter launched by HH Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE, and Ruler of Dubai.

The Modon Al Khair initiative aims to raise $13.6m (AED50m) to build 50 homes across the UAE. Iacad revealed that donations from government and private companies as well as individuals as helped accumulate $11.8m (AED43.2m) under the initiative.

Various projects are being carried out in the UAE by SZHP.One such development is Ajman’s Sheikh Zayed Housing Complex, a 95.6ha community that will feature 769 villas. Besides, construction is progressing on SZHP’s 888-home project Bateen Al Samar, located along Mohammed bin Zayed Road on Exit 122 towards Ras Al Khaimah. Aswar Engineering & General Contracting Co is working on the residential district project. The project will be completed in third quarter of 2020.

Source:Trade Arabia

Fulya Altunyay/[email protected]


DFMC opens Serta flagship store in UAE

Dubai Furniture Manufacturing Company (DFMC) has announced the opening of the first of its kind Serta flagship store at The Dubai Mall, one the world’s largest shopping malls.

The store spans over 2,200 square feet. It offers a unique shopping experience which gives a sense of ultra elegance and feel good, making the store visit an unforgettable one.

The new showroom, with an exclusive range of collection, displays the chic and superior array of modern bedding concepts, has the widest variety of premium products exclusively available in the UAE. Serta has used state-of-the-art bedding and sleeping technology in mattresses for healthy sleep.

Easwaran Hariharan, deputy general manager of Sales at Dubai Furniture Manufacturing Company, said: “UAE’s on-going 11,334 construction projects, 56,000 new hotel rooms in 2019 and Expo 2020 are creating a huge demand for premium mattresses and accessories. We are delighted to see Serta’s soaring demand in the UAE due to our unique design concepts for a perfect and healthy sleeping experience, and specialized mattress grades that are exclusive to the Serta store at The Dubai Mall.”

Source:Trade Arabia

Fulya Altunyay/[email protected]


Barings buys 40,000sqm French logistics

Real estate manager Barings has acquired a fully-let French logistics asset with development opportunity from developer Vectura.

Barings bought the 40,000 square metre asset in Muret. Also, it has entered into an agreement to forward fund the development of a 23,000 square metre extension of the property.Financial details were undisclosed.

Séverine Maumy-Laffineur, managing director and real estate country head – France at Barings, said: “This acquisition is a strong addition to our French portfolio not only due to its quality and location but also due to the prime covenant and long lease term.”

Source:IPE

Fulya Altunyay/[email protected] ​

JTRoss buys Aerozone Logistics Park in Hungary

M7 Real Estate’s Central European Real Estate Fund I (M7 CEREF I) sold the Aerozone Logistics Park in Hungary to JTRoss Group. M7 said that it sold the multi-let logistics asset in Budapest to JTRoss for an undisclosed sum.

Aerozone Logistics Park comprises 50,000square metre of logistics space. M7 acquired the asset in March 2017 and increased the occupancy of the logistics and office space to 100% (up from 80%) and 75% (up from 50%) respectively since acquisition.

Balazs Magyar, managing director M7 Hungary, said: “Within a short period of time we have significantly improved the performance of Aerozone Logistics Park and, with our initial asset management strategy now concluded, have crystallised value for our investors.”

Magyar said that M7 remains very active in Central Europe, including in Hungary where it manages about €100m of office and industrial assets.

Magyar said that we are seeking investments in all sectors where can use our asset management skills to enhance value.

Source:IPE

Fulya Altunyay/[email protected]


SFERS to invest $800m in real assets

San Francisco Employees’ Retirement System (SFERS) is expected to invest around $800m in real assets a year for the next three years.

Investment consultant Cambridge Associates disclosed that the amount was based on a 4% overall growth in the pension fund’s $3.9bn real assets portfolio, according to in a meeting document.The new projection is lower than the previously reported $1bn pacing plan for this year.

Real estate accounts for 67.7% of the pension fund’s real asset portfolio. Natural resources and co-investments account for 30.1% and 2.1% of the portfolio respectively.

Source:IPE

Fulya Altunyay/[email protected]

Primonial REIM buys 42 retail assets

Primonial REIM bought a total of 16,500 square meter of assets in 22 Dutch city centres on behalf of two its funds for an undisclosed sum.

The REIT has agreed its first deal in the Netherlands with the acquisition of a portfolio of 42 retail assets.

Grégory Frapet, Chairman of the executive board at Primonial REIM, said: “We feel proud about Primonial REIM’s first deal in the Netherlands, in a move that will increase our pan-European footprint considerably.”

Frapet added, “This investment is fully consistent with our strategy of branching out into new sectors and new regions and taking a selective approach to the real estate assets we work with.”

Source:IPE

Fulya Altunyay/[email protected]

AXA IM Real Assets expands Amsterdam hotels portfolio

AXA Investment Managers – Real Assets has bought a hotel in Amsterdam city centre on behalf of clients for an undisclosed sum.

AXA IM – Real Assets said that the acquisition of the 29,710 square metre DoubleTree by Hilton Amsterdam Central Station is the fifth addition to its Amsterdam hotels portfolio.In addition, the hotel is operated by Hilton on a long-term management agreement.

The DoubleTree was built in 2011. The asset offers 557 bedrooms. Besides, there is an independently owned and operated carpark, with 1,355 public parking spaces, located beneath the hotel.

Crispijn Stulp, country head, Netherlands at AXA IM – Real Assets, said that the DoubleTree by Hilton Amsterdam Central Station is a truly core asset benefiting from a prime position in a key European capital city that demonstrates favourable long-term fundamentals.

Source:IPE

Fulya Altunyay/[email protected]

Bain Capital sells San Diego life science campus

The real estate investment arm of Bain Capital has sold a Class A life sciences campus in San Diego to an undisclosed REIT for $255 million. HFF represented Bain Capital Real Estate and Phase 3 Partners in the deal.

Bain Capital Real Estate, which has invested in approximately 4 million square feet of life sciences and lab space through acquisitions, developments and repositioning across the U.S., first purchased the Genesis Campus Point property in two separate transactions in 2015, in a partnership with Phase 3.

The three-building Genesis Campus Point comprises 314,135 square feet and is located in the heart of the University Town Center neighborhood, about a 30-minute drive from downtown San Diego. The campus is situated close to interstates 5 and 805, and is among several prominent research institutions, including the University of California San Diego Health System, Scripps Health and the Salk Institute.

Source:CP Executive

Fulya Altunyay/[email protected]