Modon has successfully sold out Bashayer, its first waterfront residential community on Hudayriyat Island, generating AED 3 billion in sales within one day of its launch. The development consists of 157 villas and 330 premium apartments located in low-rise terraced buildings. The exceptional demand reinforces Hudayriyat Island's position as a highly desirable residential destination for both local and international investors.
Chedi Hospitality, a global curator of design-led hotels, resorts, and branded residences, has appointed Stephan Schupbach as its new President & Group Chief Executive Officer. With over three decades of international experience in the luxury hospitality sector, Mr Schupbach will now lead the company’s long-term strategy, brand vision, and portfolio performance.
Brookfield and Qai, the AI subsidiary of Qatar Investment Authority, have announced a $20 billion strategic joint venture focused on artificial intelligence infrastructure. The partnership will develop fully integrated AI facilities in Qatar to support its burgeoning digital ecosystem. The Integrated Compute centre is set to expand high-performance compute access regionally, aligning with Qatar’s ambition to become a major AI hub in the Middle East, advancing its National Vision 2030.
Alexander & Baldwin Inc. (A&B), a major Hawaiʻi commercial real estate owner, has entered a definitive merger agreement to be acquired by a joint venture including MW Group, Blackstone Real Estate, and DivcoWest. The all-cash deal values the company at approximately $2.3 billion, with shareholders receiving $21.20 per share, a 40.0 per cent premium. A&B, the largest owner of grocery-anchored shopping centres in Hawaiʻi, will become a private company following the expected closure in the first quarter of 2026. The investor group has pledged to retain the company's local focus, leadership, and brand, alongside a commitment to invest over $100 million into the property portfolio.
The Supervisory Board of Vonovia SE has unanimously decided on two key Executive Board changes, appointing Katja Wünschel as the new Chief Development Officer (CDO) from June 1, 2026. Ms. Wünschel, a seasoned leader from the renewable energy sector, is expected to bring extensive experience in project management and large investment projects to Vonovia’s new housing and modular construction business.
LBA Logistics has acquired Core45 Building 1, a newly constructed 616,068-square-foot Class AA industrial facility in the South Dallas market. The sale was managed by JLL Capital Markets, which represented the seller, an affiliate of Grandview Partners. Completed in 2023, the property is 48 per cent leased to investment-grade tenant Owens Corning.
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