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...The loans were tied to its residential portfolio and development pipeline....
...Dickie said that because Grosvenor was already a commercial developer, funding construction was “already within our risk appetite” and the company could more easily “take a view on pricing that risk”....
...Son bought the Woodside estate 11 years ago, paying $117.5mn — then the most for a US residential property — to acquire the property from Tully Friedman, co-founder of private equity giant Hellman & Friedman...
...However, commercial construction remains subdued, with commercial contractors citing client hesitancy and tight budgets....
...Commercial construction activity declined in February, with contractors citing client hesitancy and constrained budgets....
...Shares in big residential landlords like Vonovia, TAG and LEG have all rallied since the end of last year, outperforming commercial property owners....
...The building, part of British Land’s joint venture with Singapore’s GIC at Broadgate, is under construction and due to be completed in 2027....
...Commercial real estate is in dire straits. At the same time, there’s an acute shortage of residential housing. Surely, the solution is simply to convert offices into homes en masse?...
...UK commercial housebuilders built about a quarter fewer homes in 2023 than the year before, according to equity analysts at Investec, with building rates forecast to be flat in 2024....
...Builders cited cutbacks to residential development projects and a general slowdown in business due to unfavourable market conditions....
...That can no longer be taken for granted with state-owned China Construction Bank (CCB) taking rare legal action against the troubled mainland developer Shimao Group....
...China started commercial driverless development in 2013, about five years after groups in the US....
...Commercial building, meanwhile, showed signs of stabilisation, rising to 49.5 in October from 47.7 in September, indicating only a marginal fall in activity....
...In contrast to housebuilding, commercial building activity in the UK continued to expand in August with the index reading 54.2 — largely unchanged from the previous month....
...Construction companies blamed the slowdown on “cutbacks to new residential development projects in the wake of sluggish demand and rising borrowing costs”, said Tim Moore, economics director at S&P Global...
...It develops both residential and commercial property and has worked on big international developments, including a mixed-use residential project in Shoreditch, London, that preserved the remnants of a 1577...
...The firm highlighted the age and construction of homes in Ishikawa prefecture, one of the areas affected by the quake, with some timber dwellings more vulnerable to tremors than steel-built commercial and...
...For all the fanfare that accompanied its construction, the Depression-era 40 Wall Street was a commercial bust. It fell into foreclosure within a decade as many of its tenants went broke....
...Excluding the pandemic, he added, the downturn in residential building has been the steepest since spring 2009....
...Europe’s residential property sector has faced similar challenges....
...of Munich and Project Immobilien Gruppe of Nuremberg, which build both residential and commercial property....
...But the backlash over the Argentine World Cup winner’s failure to play in a Hong Kong friendly match has shown the perils of pinning commercial dreams largely on one superstar....
...However, the sharp drop in residential construction was offset by a strong pick-up in commercial building activity and continued solid growth in civil engineering....
...UK construction activity has expanded for the third consecutive month as the volume of commercial work and civil engineering activity offset the steepest decline in residential output since May 2020....
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