Penta Real Estate has acquired a 50% stake in HoldCo Bubny s.r.o. to lead the transformation of Prague’s Bubny-Zátory site. Partnering with AKIPIA and J&T, the firm will oversee a CZK 90 billion urban development project across 250,000 square metres. Running until 2050, the master plan includes 10,000 homes, office space, schools and public amenities, marking the largest project in Penta’s history.
Huong Viet Properties has teamed up with 32 strategic partners to launch Palm River, a new apartment subdivision within the 30.6-hectare Palm City development in eastern Ho Chi Minh City. Built on a 1.9-hectare plot with 60 percent green space, the complex comprises four 36-story towers. Construction began in June 2026, with handover scheduled for the first quarter of 2029.
GO Residential REIT has agreed to purchase 27 properties from H&R REIT for approximately US$2.8 billion. The deal expands GO's presence across the US Sunbelt region and New York City, adding nearly 13,300 suites to its portfolio. Following completion in late 2026, the combined entity will become Canada's second-largest publicly traded residential REIT by enterprise value while improving its leverage profile.
Construction is underway on The Orchard Place in Dubai. Designed by SPECTRUM Architecture, the scheme integrates residential, commercial, and office spaces within a unified development. Built over a central five-storey podium connecting two high-rise towers, the project translates extensive research into site topography, climate, and modern urban living into physical form. Active structural works are currently progressing on the site.
Minor Hotels has announced plans to launch Avani Kota Kinabalu in the first quarter of 2027. The 352-key property will mark the introduction of the Avani brand to the Malaysian state of Sabah. Developed as part of The Logg Luyang project by KTI Landmark, the hotel will act as the hospitality anchor for the mixed-use scheme.
London-listed luxury developer Dar Global has awarded the podium construction contract for Trump International Hotel & Tower, Dubai, to Gulf Asia Contracting. Following the completion of enabling works in September 2026, the 80-storey Sheikh Zayed Road development enters its next building phase. The 350-metre tower will combine a hotel, residences and a private members' club.
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