Talaat Moustafa Group (TMG) has officially opened “The Village”, a new commercial and entertainment district at its Celia project in the New Administrative Capital. The facility features a Carrefour hypermarket and a “Kids Station”, alongside a variety of mixed-use services. Located in the heart of the Green River area, the hub includes medical centres, cinemas, and an open-air theatre.
PowerBank Corporation has announced the commercial operation of its first 1.45-megawatt rooftop solar project in Calgary, Alberta. Developed for Fiera Real Estate, the project serves as a pilot for future renewable energy initiatives within Fiera’s global portfolio. The installation will sell power to the local grid while generating carbon offsets through provincial environmental systems.
Barings has successfully acquired Tazzoli 6, an 11,000 sqm office building in Milan's highly sought-after Porta Nuova district. The deal was executed via an Italian real estate fund managed by Savills IM SGR. This acquisition marks Barings' seventh office investment in Milan and highlights their commitment to the city’s central business district.
Mercedes-Benz and Binghatti have revealed plans for a massive $8.17 billion branded residential district in Dubai’s Meydan area. The development, known as Mercedes-Benz Places | Binghatti City spans 10 million square feet and represents a significant expansion of the partnership between the car manufacturer and the developer. This masterplanned community will feature multiple residential towers alongside retail, leisure and mobility hubs.
Repsol has agreed to sell a 43.8 per cent stake in its 629 MW Outpost solar project in Texas to infrastructure investment firm Stonepeak for $252.5 million (€220 million). The transaction implies a total asset valuation of approximately $775 million (€675 million), which includes tax equity proceeds from Production Tax Credits. This deal represents Repsol's second use of an asset rotation strategy in the US renewables market to optimise its financial structure and attract strategic partners.
Global real estate firm JLL has agreed to acquire a significant stake in the Saudi Facility Management Company (FMTECH), a firm established by the Public Investment Fund (PIF) in 2023. The PIF will remain the majority shareholder. This strategic transaction aims to enhance the facilities management sector in Saudi Arabia by combining the PIF's market scale with JLL's advanced operational and technological expertise, specifically JLL’s digital facility management platforms.
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