Construction has officially begun on Sweetbird North, an eight-story mixed-use building in Miami’s Design District designed by architecture firm Snøhetta. Developed alongside Dacra and Raycliff Capital, the 120,000-square-foot scheme features a stainless-steel mesh facade, 22,500 square feet of ground-floor retail, and planted office terraces. The project represents one of the largest vertical developments initiated in the neighbourhood to date.
Global investment firm KKR has agreed to sell Japan's Central Tank Terminal Co., Ltd. and Korea's Central Terminal Korea Co., Ltd. to institutional investors. Having acquired CTT in 2021 and CTK in 2023, KKR expanded both bulk storage platforms across Asia. The infrastructure transactions remain subject to customary closing conditions, with financial details unrevealed.
A new joint venture between Innovo Build and REDCON Construction has secured a contract exceeding 12 billion Egyptian pounds for Modon Developments' flagship project in Egypt. The alliance will deliver infrastructure and contracting works for the "DP03 East" package at "Wadi Yam" in Ras El Hekma. Spanning 323,000 square metres, the 21-month project includes over 660 residential units, a commercial mall, scenic lakes, landscaping, and road paving.
M&G Real Estate has completed the sale of Frontier Shinjuku Tower, a 24-storey mixed-use asset in Tokyo, following a 23% increase in net operating income. Disposed of 15 months ahead of the original investment timeline, the 298-apartment property underwent extensive asset enhancements and sustainability upgrades, securing Japan’s highest green rating, CASBEE S. The sale highlights sustained demand for prime rental housing in central Tokyo.
Skanska has divested the second phase of its H2Offices scheme in Budapest, Hungary, to ERSTE Open-Ended Real Estate Investment Fund for EUR 98 million (SEK 1.1 billion). The 22,000-square-metre building is fully pre-leased to an international firm on a 10-year term. Skanska Commercial Development Europe will record the transaction in the third quarter of 2026, with property handover scheduled for late 2027.
Autonomous Solutions, Inc. (ASI) has partnered with SoftBank Group to form a new joint venture aiming to scale autonomous construction equipment for major infrastructure developments. Supported by SoftBank's financial backing alongside a separate $225 million direct investment, the venture will accelerate the commercialisation of hardware and software solutions that allow mixed fleets of heavy machinery from various manufacturers to operate autonomously across complex job sites.
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