Maharashtra announces new real estate norms, first regulator from May 1

moneycontrol.com | April 20, 2017

India will soon be getting its first real estate regulator and developers will have to toe the line or face severe penalties. The Maharashtra government on Thursday announced the rules for its regulator, ahead of the various state regulators coming into effect.

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Zell speaks about never allowing conventional wisdom to change his views and the value of calibrating every risk.
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Zell speaks about never allowing conventional wisdom to change his views and the value of calibrating every risk.
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BROKERAGE,HOME AND DESIGN

HUB International Partners with RESAAS to Simplify the Home Insurance Process

HUB International and RESAAS | August 03, 2022

Hub International Limited (HUB), a leading global insurance brokerage and financial services firm, today announced its partnership with RESAAS Services Inc., a technology platform for the real estate industry, for clients of RESAAS agents to access VIU by HUB, a digital brokerage platform for transactional personal insurance created for customers who want a digital-first experience with human interaction and advice. HUB launched VIU by HUB in June 2022 and is quickly gaining interest and adoption by partners like RESAAS, which reflects a growing number of relationships in the real estate industry, financial services, and auto dealer sector. "VIU by HUB is a game changer, and our exclusive partnership with RESAAS and its network of 500,000 real estate agents is the type of relationship we had in mind when we first launched our innovative digital-first brokerage platform, VIU by HUB allows RESAAS agents across the U.S. to tap into the expertise and insurance relationships HUB has cultivated and offer their clients a streamlined digital experience to purchasing insurance -- adding value to RESAAS's already stellar real estate services." -Bryan Davis, EVP, Head of VIU With the ever-changing consumer landscape demanding choice, VIU by HUB meets customers where they are and gives them the freedom to secure insurance how they want. Tom Rossiter, CEO of RESAAS added, RESAAS continues to expand our offering beyond the real estate transaction to deliver value for our real estate professionals before, during and after a home purchase. When reviewing the insurance landscape, VIU by HUB's personalized approach offers the right experience for the 500,000 RESAAS agents and their clients. RESAAS is proud to partner with VIU by HUB as our exclusive insurance partner within the global RESAAS platform. Under the terms of the agreement, HUB has joined RESAAS's Ancillary Services division that enables RESAAS agents to generate additional, non-transactional recurring revenue by introducing their clients to select, nationwide and best-in-class partnerships endorsed by RESAAS. HUB and RESAAS will share in the commissions generated by sales from this partnership. About Hub International Headquartered in Chicago, Illinois, Hub International Limited is a leading full-service global insurance broker and financial services firm providing risk management, insurance, employee benefits, retirement and wealth management products and services. With more than 14,000 employees in offices located throughout North America, HUB's vast network of specialists brings clarity to a changing world with tailored solutions and unrelenting advocacy, so clients are ready for tomorrow. For more information, please visit www.hubinternational.com. About RESAAS Services Inc. Headquartered in Vancouver, Canada, RESAAS (TSX-V: RSS,OTCQB: RSASF) is an award-winning global technology platform for the real estate industry. With over 500,000 real estate agents utilizing RESAAS in 160 countries, RESAAS enables real-time industry communication, delivers new business opportunities and captures unique real estate data. Some of real estate's biggest brands leverage RESAAS to provide business intelligence to real estate brokerages, franchises and associations. For more information, please visit https://www.resaas.com.

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MARKET OUTLOOK

Muriya launches first-of-its-kind 'fanar views' residential project

Muriya | July 18, 2022

Muriya, Oman's most diversified real estate developer, has announced the launch of Fanar Views, a new first-of-its-kind residential project primely located in Hawana Salalah. Just a five-minute walk to the Fanar Hotel & Residences beach, the marina and the destination's world-class amenities, Fanar Views offers luxurious waterfront living and a unique investment opportunity with high potential returns within a lucrative year-round rental market. The project boasts a limited selection of townhouses, twin- and standalone villas, fully serviced and furnished, with private pools overlooking the lagoons. Properties in Fanar Views are available with one-, two- and three bedrooms, offering resort-style living in a developed community. Buyers of all nationalities can also enjoy lifetime family residency, complimentary use of the Fanar Hotel & Residences' swimming pool, beaches, sports facilities, gym, business center and exclusive discounts at the hotel's restaurants. "With the Governorate of Dhofar continuing to gain standing as a sought-after tourist destination and growing real estate market, Fanar Views is a great choice for living as well as a robust investment opportunity. As the first such development in the area, Fanar Views offers an ideal base from which to experience the beauty of the Governorate, complete with access to all of what Hawana Salalah as well as the key offerings that Fanar Hotel & Residences have to offer, As our latest prestigious neighbourhood, Fanar Views is designed with luxury living in mind, and whether for couples, families, or as a lucrative rental with high return on investment potential in Oman's rapidly-expanding subtropical city, the new neighbourhood unlocks the exceptional." Seif Elkhouly, Chief Development Officer, Muriya At the heart of the Governorate of Dhofar sits Hawana Salalah, where resort living becomes a lifestyle. The destination offers plenty of opportunities to live and invest throughout a growing range of freehold properties. Meanwhile, across its 13.6 million sqm Land Area, it offers 1,100 hotel rooms, 7km white sandy beaches, a 170 berth Marina, an Aqua Park, and a variety of bustling restaurants and cafes. Drawing residents and tourists from near and far, Muriya's flagship destination is brimming with life, offering open space, natural surroundings, and a place to be enjoyed for generations to come. Muriya, the developer of Hawana Salalah, is a partnership between the leading government arm for tourism development in Oman, Oman Tourism Development Company (OMRAN), and the internationally acclaimed developer of fully-integrated towns, Orascom Development Holding (ODH). About Muriya Combining global and local expertise, Muriya is a partnership between the internationally acclaimed developer of fully-integrated towns, Orascom Development Holding (ODH) (70%) and the leading government arm for tourism development in Oman, Oman Tourism Development Company (OMRAN) (30%). Established in 2006, Muriya has been leading a solid business performance boasting investments worth over $750 million in developing Oman's most iconic Integrated Tourism Complexes (ITCs), while highlighting the Sultanate's history, heritage and natural beauty in the process. "Building Communities, Enriching Lives" is Muriya's priority across its portfolio of projects that includes, Hawana Salalah, Jebel Sifah and As Sodah Island, located in the Indian Ocean across the southern coast of Dhofar. Muriya's flagship destination Hawana Salalah is located in the tropical city of Salalah in the Governorate of Dhofar southeast of Oman, with an area of 13.6 million sqm and will house a total of seven hotels, of which the 577-room Fanar Hotel & Residences, the 422-room Salalah Rotana Resort, the 82-room Juweira Boutique Hotel and the 19-beachfront hut, Souly Lodge are operational; totalling the available luxury hotel rooms to 1,100. The destination is home to Oman's first aqua park, the Hawana Aqua Park, a 170-berth marina, freehold residences, which are available to own or rent, and retail venues, restaurants and cafes. Jebel Sifah, located 40 minutes from the capital city of Muscat, is spread over 6.2 million sqm and is designed to include five world-class hotels, of which the 68-room Sifawy Boutique Hotel is operational. It also houses freehold residences, which are available to own or rent, an 84-berth marina, and a wide range of dining and leisure facilities, and the 9-hole PGA Harradine signature golf course, Muscat's first course offering spectacular sea and mountain views to golfers.

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REAL ESTATE INVESTMENT

Invesco Real Estate Income Trust Inc. and Skylight Real Estate Partners Acquire Multifamily Property in West Essex, NJ Submarket

Invesco Real Estate Income Trust Inc. | May 24, 2022

Invesco Real Estate Income Trust Inc., an institutionally managed, public non-listed REIT, announced it acquired a majority interest in Everly Roseland, a 384,648 square foot, 360-unit garden-style multifamily community across 30 two-story buildings, following a partial sale to an affiliate. The property is located at 28 Nob Hill Road in Roseland, New Jersey and it is 95% leased. This acquisition is part of a joint venture with Skylight Real Estate Partners, a regional, privately-held real estate investment firm with a focus on multifamily investment and development. With the future of work changing traditional office commutes, we continue to see strong demand for affordable, low-density multifamily properties proximate to the urban core. Additionally, Roseland is a desirable community with fairly high barriers to new development and it aligns with our investment strategy for multifamily." R. Scott Dennis, President and Chief Executive Officer for INREIT Built in 1980, Everly Roseland is one of the largest multifamily assets in West Essex County submarket. An affiliate of Skylight owned the property in a joint venture since 2017. Through the recapitalization of the asset, Invesco and Skylight will continue executing on the unit renovation program, including upgrades to the common areas and exteriors. Skylight will also serve as the property manager for Everly Roseland. "Everly Roseland is a well-performing property with a multitude of value creation strategies to unlock," said Andrew Miller, Founding Partner at Skylight Real Estate Partners. "We started unit renovations and the construction of an amenities center, which has helped to modernize the building. We share the same vision as our partners at Invesco in continuing to transform Everly Roseland back to its premier status." This investment expands INREIT's multifamily portfolio into the Northeastern United States. The transaction also establishes a relationship with new partner, Skylight. This transaction was advised by JLL Capital Markets debt advisory team and financed by U.S. Bank. The JLL Capital Markets debt advisory team was led by Michael Klein, Matthew Pizzolato, John Rose and Gerard Quinn. About INREIT Invesco Real Estate Income Trust Inc. (INREIT) is an institutionally managed, public non-listed monthly NAV REIT investing in a diversified portfolio of high quality, income producing properties located throughout the United States. Its thematic approach to investing focuses on where people consume, live, innovate and connect. INREIT seeks to invest in properties with resilient income and appreciation potential. INREIT expects to diversify its portfolio over time, including on a global basis. INREIT is managed by Invesco Advisers, Inc., a subsidiary of Invesco Ltd. and the registered investment adviser for Invesco Real Estate, the real estate investment center of Invesco Ltd. About Invesco Real Estate Invesco Real Estate is a global leader in the real estate investment management business with $91.8 billion in real estate assets under management, 582 employees and 21 regional offices across the U.S., Europe and Asia Pacific (as of December 31, 2021). Invesco Real Estate has been actively investing in core, value-add and opportunistic real estate strategies since 1983. Invesco Real Estate is the real estate investment center of Invesco Ltd., an independent investment management firm dedicated to delivering an investment experience that helps people get more out of life. About Skylight Real Estate Partners Skylight Real Estate Partners is a privately held real estate investment firm with deep experience acquiring, developing and managing residential and commercial assets in New York, New Jersey, Washington D.C., Central and South Florida. The team's management platform is focused on three complementary investment strategies: value-add, development and distressed opportunities. Since 1998, the founding partners have collectively invested $5.5 billion of equity in assets totaling over $16 billion of gross asset value. This experience comprises over 9,000 residential units and 20 million square feet of office and retail assets. Skylight offers its investors, tenants and partners extensive market knowledge, long-standing relationships and institutional thinking fueled by a motivated and deeply experienced leadership team with a proven record of consistent success. About JLL JLL is a leading professional services firm that specializes in real estate and investment management. JLL shapes the future of real estate for a better world by using the most advanced technology to create rewarding opportunities, amazing spaces and sustainable real estate solutions for our clients, our people and our communities. JLL is a Fortune 500 company with annual revenue of $16.6 billion, operations in over 80 countries and a global workforce of more than 95,000 as of September 30, 2021. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated.

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