Ayala Land has increased its capital investment in the 320-hectare Lio Estate in El Nido, Palawan, to cater to growing demand for long-stay tourism and second homes. The expansion includes new transport links, a 3.7-kilometre boardwalk and a 16.3-hectare mixed-use district called Sitio Aplaya, while dedicating more than half of the coastal development to protected ecological zones.
Starwood Capital Group has completed the final closing of its latest global opportunistic real estate fund, Starwood Distressed Opportunity Fund XIII, securing over $10.2 billion in capital commitments. Supported by more than 300 institutional and private investors across 20 countries, the fund has already deployed $3 billion into data centers, housing and industrial assets across the US, Europe and Asia.
The Greenville Arena District has selected Turner to manage the $182 million Bon Secours Wellness Arena Master Plan. The project will modernise the downtown arena, build a 6,500-seat amphitheatre and extend the entertainment district. Funded by existing venue revenues and hospitality taxes rather than tax increases, the project will focus heavily on creating employment opportunities for local small businesses and workers.
Blacksand has signed a major agreement with Marriott International to build ten new hotels across Saudi Arabia. The four-year multi-brand project will introduce more than 1,300 rooms across the country. Key properties will span luxury, premium and extended-stay sectors. The first location is scheduled to launch in Riyadh, with construction and design planning already underway to support national tourism growth.
Design Hotels has announced its largest portfolio expansion to date by adding 16 properties operated by US hospitality group Palisociety. The deal integrates over 1,000 keys across nine American destinations into its global network. The properties will gain access to Marriott International distribution channels and the Marriott Bonvoy travel loyalty platform.
KAFD DMC has signed a memorandum of understanding with Osool Integrated Real Estate Company to evaluate new property investments in Riyadh. The non-binding deal aims to address the rising demand for prime commercial and residential space within the financial district. The collaboration follows a recent SAR 12 billion financing facility raised by the district operator.
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