Commercial property sales in Scotland have fallen sharply

Property Wire | June 13, 2019

Commercial property sales in Scotland have fallen sharply
Commercial property sales in Scotland during the first quarter of 2019 fell by 21% compared to the same period in 2018, according to an analysis of the latest data to be published. The drop was largely driven by fewer high value transactions for this period, with the number of £5 million plus sales down by nearly a third compared to the first quarter 2018, the analysis from the Scottish Property Federation shows. According to David Melhuish, director of the SPF, the trend aligns with investment data suggesting a subdued start to 2019 for the Scottish commercial property sector but he pointed out that Edinburgh’s commercial property market is strong, accounting for 35% of the Scottish market by value. The investment data also highlights the rise in investor appetite for alternative property asset classes, such as hotels and Build to Rent. ‘For investors, Edinburgh remains a hotspot, while more broadly, low growth and lack of certainty in the economy is weighing down on activity,’ said Melhuish. The SPF analysis shows a 21% or £203 million year on year decrease in sales by value in the first quarter of 2019, with the value of commercial property sales in the quarter totaling £763 million.

Spotlight

Losses arising from natural disasters in 2017 were among the highest ever recorded. Total global economic cost was USD344 billion dollars as insurers covered USD132 billion of that total. Nine of the ten costliest insured loss events in 2017 impacted the continental United States. The predominant driver of damage resulted from one of the costliest Atlantic hurricane seasons on record, following the landfalls of Hurricanes Harvey, Irma, and Maria that left extensive damage across parts of the United States and the Caribbean Islands. Those three storms alone caused an estimated USD220 billion in damage and represented 62 percent of 2017’s annual economic loss.

Related News

AppFolio Leads the Real Estate Industry’s Digital Transformation With the Release of New Capabilities

AppFolio, Inc. | June 10, 2020

AppFolio, Inc. a leading provider of industry-specific, cloud-based software solutions, services, and data analytics to the real estate and legal markets, has expanded AppFolio Property Manager and AppFolio Property Manager PLUS product capabilities in light of the evolving needs of their customers, given the unique challenges brought on by the COVID-19 crisis. AppFolio’s technology is designed to enable superior customer experiences and increase efficiency and productivity. The current disruption stemming from COVID-19 has accelerated the need for digital transformation in the real estate industry. AppFolio users were poised to adapt quickly to the rapidly changing environment, maintaining business continuity, and continuing to serve their many customers in these difficult times.

Read More

Neuberger Berman Real Estate Securities Income Fund Announces Monthly Distribution

prnewswire | September 30, 2020

Neuberger Berman Real Estate Securities Income Fund Inc. has announced a distribution declaration of $0.04 per share of common stock. The distribution announced today is payable on October 30, 2020, has a record date of October 15, 2020 and has an ex-date of October 14, 2020. Under its level distribution policy, the Fund anticipates that it will make regular monthly distributions, subject to market conditions, of $0.04 per share of common stock, unless further action is taken to determine another amount.

Read More

REAL ESTATE INVESTMENT

Leading KSA Real Estate Developer Dar Al Arkan launches its first project in Europe

prnewswire | November 02, 2020

Dar Al Arkan, the main land improvement organization in KSA, has reported the dispatch of its first European private task. The 500,000 sqm extravagance advancement will be situated in Bosnia and Herzegovina inside a staggering woods only a short ways from the nation's capital, Sarajevo. The venture is scheduled to kick things off in the early piece of 2021. The organization has made sure about the metropolitan and government endorsement on this task which will be the biggest single land venture in Bosnia and Herzegovina. Announcing the launch, Mr. Yusuf bin Abdullah Al-Shalash, Chairman of Dar Al Arkan Real Estate Development, said: "Today, Dar Al Arkan has placed a golden opportunity into the hands of investors. Bosnia and Herzegovina is a cultural destination with an authentic history, traditions and a wonderful natural environment. The country is growing in popularity, so this is a perfect investment for those wishing to be part of the country's developing luxury tourism and hospitality sector." He also added: "This will be a wonderful haven for those wishing to relax within a private, second-home gated community surrounded by luxury facilities and services. We believe the development will attract both Bosnian and international investors." The task will consolidate contemporary estates motivated by neighborhood engineering and highlight up-to-date insides that amicably mix with the fabulous perspectives. Offices will incorporate a clubhouse, an inn and spa, an exercise center, food and refreshment outlets and a youngsters' play area. About Dar Al Arkan Real Estate Development Company Dar Al Arkan Real Estate Development Company is a Saudi joint stock company, active in real estate development and headquartered in Riyadh, KSA. The company was founded in 1994 by six prominent business families who have, between them all, vast experience in real estate development. Its activity is to purchase and own real estate and land, general contracting, construction of commercial and residential complexes. Throughout its long history, the company has executed a number of successful real estate projects and contributed to the development of efficient real estate solutions for the regional market, through more than 30 commercial, residential, and real estate projects. Dar Al Arkan Real Estate Development Company is a major contributor playing an important role to help achieve the goals of Vision 2030 in regard to real estate development.

Read More

Spotlight

Losses arising from natural disasters in 2017 were among the highest ever recorded. Total global economic cost was USD344 billion dollars as insurers covered USD132 billion of that total. Nine of the ten costliest insured loss events in 2017 impacted the continental United States. The predominant driver of damage resulted from one of the costliest Atlantic hurricane seasons on record, following the landfalls of Hurricanes Harvey, Irma, and Maria that left extensive damage across parts of the United States and the Caribbean Islands. Those three storms alone caused an estimated USD220 billion in damage and represented 62 percent of 2017’s annual economic loss.