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Marriott International is poised to begin increasing the City Express model as quickly as ultimate regulatory circumstances are met.
The $100 million deal inked in October to amass the Mexico-based City Express model portfolio from Hoteles City Express considerably expanded Marriott’s footprint within the Caribbean and Latin America, and that’s simply step one for development within the area, stated Bojan Kumer, regional vp of lodge growth for Marriott. Beyond Brazil, Marriott is concentrating on Argentina, Colombia, Peru and Chile, in addition to in small nations similar to Bolivia and Paraguay. Conversion would be the main development mannequin, particularly in Brazil, involving motels with current contracts which are expiring and unbiased motels.
Cain International, the privately held funding agency, has appointed artistic studio Bompas & Parr to develop the Museum of Shakespeare at The Stage, the two.3-acre mixed-use growth in Shoreditch.
The agency, which has labored with manufacturers together with Coca-Cola, Mercedes and LVMH and cultural establishments together with The Barbican and San Francisco Museum of Modern Art, will design an immersive expertise within the stays of the Curtain Playhouse. Visitors will see new archaeological discoveries whereas experiencing a retelling of a day in Shakespeare’s life. The museum will open subsequent yr and accommodates the theatre the place Shakespeare’s Henry V and Romeo & Juliet premiered and that operated from 1577 to 1624.
The French co-living market has caught the eye of Ares Management. After an preliminary partnership with Colonies final yr, the American investor has confirmed its curiosity within the sector by becoming a member of forces with Bouygues Immobilier and its new model, Nomo. The goal is bold: to develop 10,000 beds by 2030.
In May 2022, the American investor entrusted the operator Colonies, through its different credit score technique, with a €1 billion package deal devoted to the acquisition and administration of two,000 flats in France, Germany, Belgium and Luxembourg. “The plan is to aggregate a unique portfolio of existing apartments assets,” explains Quentin Orion, managing director of Ares Management. “Thanks to Colonies expertise, the apartment assets will be refurbished and converted to colocation properties, which we believe will support the ability to generate more attractive returns compared to traditional rental residential units.”
The German government passed the Building Energy Act Amendment calling for newly installed building heating systems to be powered by 65% renewable energies starting next year, with gas and oil phased out by the end of 2044.
The German government will provide a basic subsidy of 30% of the costs and bonuses of up to 20%, stressing there should be no further increase in the number of gas heating systems to avoid problems when owners can no longer afford the price of gas. Added costs for carbon emissions from buildings will be levied throughout the EU starting in 2027 and minimum energy performance standards are also planned.
François Duplantie is trying to push forward with a plan to develop his mansion on the private gated island once owned by singer Céline Dion. The 24,000-square-foot building in Laval, Quebec, as well as the entire heavily wooded 19-acre Gagnon Island is located about 26 kilometres northwest of downtown Montreal.
Duplantie dreams of transforming the site by adding 660 condominium units and a 35-room hotel that can capture business from the stream of tourists, often from the United States, that pour into greater Montreal. The mansion would be converted into a reception hall or restaurant, but those plans hit a roadblock in the summer of 2020 after his rezoning change proposals met with objections from residents of the city of Laval. Duplantie still meets with plan opponents and says he is willing to tinker with project details to win approval.
The rapid adoption of new artificial intelligence apps and an intensifying bid for dominance among tech giants Amazon, Google and Microsoft are expected to drive investment and double-digit growth for the data center industry in the next five years.
A “gold rush of AI” centers on the brisk development of tools such as ChatGPT, according to a new analysis from real estate services firm JLL. Voice- and text-generating AI apps could transform the speed and accuracy of customer service interactions and accelerate demand for computing power, as well as the systems and networks connecting users that data centers provide, the real estate firm said.
This report was compiled from CoStar’s information publications within the United States, United Kingdom, Canada, France and Germany.
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