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United States Real Estate Market Report 2021: Market is Surging Despite the COVID-19 Crisis - ResearchAndMarkets.com
April 13, 2021 GMT
DUBLIN (BUSINESS WIRE) Apr 13, 2021
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United States Real Estate Industry was USD 1,208 Billion in 2020 and is expected to reach USD 1,751 Billion by 2027.
In the United States, the market of Real estate is surging despite the pandemic COVID-19 crisis. For many Americans, residence is the highest source of prosperity and investment. Non-Residential or Commercial construction includes lodging, Office, health care, Educational, temples, Amusement and recreate, transportation, manufacturing, etc. It provides a source of more revenue in return.
By Reuters Staff
2 Min Read
FILE PHOTO: A view of Shanghai s skyscrapers, Oriental Pearl Tower (L), Shanghai Tower (2nd L), Jin Mao Tower (2nd R) and the Shanghai World Financial Center (R) are seen amid heavy smog in Shanghai, China, January 26, 2016. REUTERS/Aly Song/File Photo
HONG KONG (Reuters Breakingviews) - BETTER LATE THAN NEVER. Jones Lang LaSalle is late to a party. The $9 billion New York-listed company is weighing up a sale of its Chinese property management business for at least $500 million, per Bloomberg. But after a flurry of mainland property services listings in Hong Kong led by developers Evergrande and Sunac, valuations look inflated. On Friday, JPMorgan analysts cautioned short-term weakness and downgraded several firms, including China Overseas Property, with a target price 10% below market.
The new office is set to open in 2025 (British Land/PA)
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International real estate advisory JLL will move to a new headquarters around London’s Liverpool Street in what is thought to be one of the biggest deals in the capital this year.
Jones Lang LaSalle said it would take over around 134,000 square feet of office space in British Land’s 1 Broadgate development from 2026, even as many companies look away from city centre locations after the pandemic.
A Comprehensive Biennial Evaluation of Startup Companies in the Proptech Space
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The report has identified 665 private companies founded between 2011 and 2020 in the smart buildings sector. This number has increased 38% since the 2nd edition of this report published two years ago. There was no slowdown in the number of Startups receiving investment last year despite the COVID-19 global pandemic and ensuing recession.
The definition of a Startup is a private company formed no earlier than 2011 that is focused on the commercial and industrial buildings market, is not a subsidiary or an acquisition of a larger company and is often financed by venture capital or private equity funding.
The Baldwin Hills-Crenshaw Plaza mall is 41 acres of prime commercial real estate in the nation’s second largest metropolitan area. When the mall came up for sale last year, a group of residents decided to shoot for the moon and started organizing to buy it, at a price tag now in the nine figures.
If their bid is successful, the residents envision bringing in more locally owned businesses with a preference for worker-owned cooperatives; adding new mixed-income housing; building a recording studio; and creating new green space on the lot.
They formed a nonprofit entity to take ownership of the mall, called Downtown Crenshaw. Over the past year they successfully rebuffed two bids from outside investors, and at a March 24 press event they went public with the $28 million in donations they’ve raised for a down payment on the property.