Devonport City Council has unveiled the Formby Road Urban Renewal Study, identifying two major CBD sites for private development. Part of the LIVING CITY project, the plan proposes high-end apartments and commercial offices to replace existing car parks. By creating a new urban plaza and improving pedestrian links to the Mersey River, the council aims to boost footfall for local retailers and meet growing demand for inner-city living.
Saudi Arabia's General Real Estate Authority has launched the long-awaited Real Estate Ownership System for Non-Saudi Nationals, effective from 22 January 2026. This new regulatory framework allows residents, non-residents, and international companies to own property across the Kingdom via the "Saudi Properties" digital portal. While major cities like Riyadh and Jeddah are included, specific restrictions remain for Makkah and Madinah to protect their unique status.
Long & Foster Real Estate has named Lacey Conway as its new president to lead its growth and agent support strategies. Conway brings more than two decades of industry experience to the role, having previously served as the CEO of Latter & Blum. She will partner with CEO Patrick Bain to maintain the firm's reputation for local expertise and teamwork.
Al Saedan Real Estate has entered a major strategic partnership with Serpentine Lake Capital and SGI Real Estate to launch SL Property, an investment platform valued at SAR 1.5 billion. The initiative aims to develop a range of projects across Saudi Arabia, including residential communities, commercial hubs and digital infrastructure. By combining local development heritage with international asset management, the partners seek to deliver high-quality assets that support the Kingdom's economic diversification goals under Vision 2030.
Bain Capital Real Estate has successfully secured over $5 billion in new capital commitments, marking a significant expansion of its investment capacity. The firm recently closed its Real Estate Fund III with approximately $3.4 billion, alongside a $1.6 billion raise dedicated to an open-air retail platform with 11North Partners. This total exceeds the $3 billion raised for its previous fund and highlights strong investor confidence despite a difficult real estate cycle.
Greykite has expanded its European presence by launching Baunest, a dedicated German residential investment platform. In partnership with Arax Properties, the firm acquired a seed portfolio of 1,600 units for its inaugural real estate fund. The assets are located in major cities including Frankfurt and Dortmund, where housing demand remains high. Baunest plans to invest €500 million over the coming year and a half, focusing on modernising older buildings to improve energy efficiency.
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