Turkish Media Mogul’s Istanbul Mall Seized Over Unpaid Debt
An Istanbul shopping mall owned by Turkey’s biggest media empire was seized after the company failed to repay some of its debt, the latest blow from a series of unpaid loans.
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An Istanbul shopping mall owned by Turkey’s biggest media empire was seized after the company failed to repay some of its debt, the latest blow from a series of unpaid loans.
Thai conglomerate DTGO Corp. is weighing listing its UK hospitality assets via a real estate investment trust in Singapore as soon as next year, according to people with knowledge of the matter.
Osman Semerci, a once-rising star at Merrill Lynch & Co. until the unit he oversaw helped usher in the firm’s demise, is in the spotlight again.
Russians established more than 1,300 firms in Turkey in 2022, a 670% increase from the previous year, according to a report by The Economic Policy Research Foundation of Turkey, a think tank.
The world’s most indebted developer said it expects that a restructuring support agreement will be ready by the end of March, after it won preliminary support from a group of major creditors.
May 3, 2021
BNN Bloomberg
,Toronto’s downtown condominium segment is staging a comeback with sales nearing pre-pandemic levels.
New condo sales in the Greater Toronto Area totaled 5,385 units in the first quarter of 2021, which was just shy of the 5,593 figure from a year ago, according to a market report by real estate research firm Urbanation Inc.
The report also found that buyers are making a return to the downtown core with 2,886 new units sold in that same time frame. It’s a figure that is more than twice the amount of units sold in the second and fourth quarter in 2020 and even beat the pre-pandemic first quarter in 2020, which saw 2,829 units sold.
The demand for new condos resembled the real estate market high of 2017 with 76 per cent of new presale condos finding a buyer by the end of the quarter – the highest since 2017.
During the pandemic, buyers were trading their smaller condo spaces for larger homes out in the suburbs, fuelling rapid rises in home values in the detached segment while condo sales plunged.
Shaun Hildebrand, president of Urbanation, explained that the soaring suburban house prices played a role in this condo market rebound.
“The downtown Toronto condo market turned the corner in the first quarter of the year on low borrowing costs and renewed optimism regarding the outlook,” Hildebrand said in the report. “But also partly due to chain reaction after suburban home prices soared 30 per cent over the past year and put the spotlight back on urban properties.”