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Club Med plans 3 resorts in France; Barclays selects Dublin for post-Brexit HQ


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Club Med plans 3 resorts in France; Barclays selects Dublin for post-Brexit HQ

* Club Med is planning to open three new mountain village resorts in France over the next three years as part of its program to establish 15 new resorts around the world by 2019, Reuters reported, citing CEO Henri Giscard d'Estaing. The company, now owned by China's Fosun Group, will also open a resort in China and in Japan this year, the report noted.

The holiday company now operates 68 holiday villages worldwide, with approximately 77% of its resorts labeled premium or luxury.

* Barclays is deciding to move its European headquarters to Dublin, following the U.K.'s exit from the European Union, Bloomberg News reported, citing sources with knowledge of the decision. The bank will follow through with its contingency plans so it can continue serving clients in the region if the British prime minister fails to maintain London's access to the trading block within the two-year renegotiation period, the report noted.

UK and Ireland

* British Land Co. Plc is in talks with the Homes and Communities Agency to establish the Seymour Street Homes subsidiary to provide affordable homes, according to a report from Inside Housing. The subsidiary, which is expected to be launched later this year, will begin with the ownership and management of 11 social and intermediate units at British Land's £130 million Clarges Estate scheme in London's Mayfair district, the report noted.

* The ICG-Longbow development fund loaned £135 million to LBS Properties to fund the construction of The Madison residential tower near Canary Wharf in London, Property Week reported. The 53-story tower scheme will deliver 423 flats, including 104 affordable homes.

* MedicX Fund Ltd. agreed to a 50/50 joint venture with healthcare center developer General Practice Investment Corp. Ltd. to form a healthcare investment company. The GP Property Ltd. joint venture will invest in primary healthcare properties in the U.K. that will be leased to general practitioners or directly to the National Health Service.

* Capital & Counties Properties Plc said rainproof brand K-Way has agreed to occupy a 1,300-square-foot unit on Henrietta Street, at Covent Garden in London, which will become its standalone store in the U.K. The store will open in May.

* Lexeme Properties is developing the new Carlow Central Shopping Centre in Carlow, Ireland, investing over €70 million in the project, the Irish Independent reported. The project will deliver about 200,000 square feet of retail space and 10,000 square feet of office space in time for Christmas 2018. Penneys will be the mall's anchor tenant, extending its presence to 51,000 square feet of retail space over two levels.

* Richland Group started the development of One Bankmore Square in Belfast, which is set to be the largest single office building in Northern Ireland, Property Investor Europe reported. The company will invest £65 million in the development of the 12-story project, which will offer 225,000 square feet of gross leasable area. Construction in the office building is expected to start later this year, subject to planning approval, with completion scheduled for 2019, the report noted.


* Beni Stabili SpA SIIQ was given the green light by the Bank of Italy to set up an investment fund to manage its Telecom Italia SpA portfolio. The fund will hold Telecom Italia's approximately €1.54 billion portfolio and its €810 million associated debt.

The Italian REIT will own 60% of the fund, while international investors Crédit Agricole Assurances SA and EDF Invest, the investment division of the EDF Group, will each acquire a 20% stake.

* COIMA SGR S.p.A. acquired a 6,000-square-meter high-street portfolio comprising five retail properties across Italy from Feltrinelli Group for €50 million. The assets in Milan, Florence, Rome, Pisa and Modena were acquired on behalf of the Core I Fund.


* Germany-based Union Investment bought into the 23,600-square-meter Grand Central development at Paris' Saint-Lazare station for its UniImmo Deutschland open-ended real estate fund, IPE Real Estate reported. The Carlyle Group is managing the project, which plans to build a business center in the station by mid-2019.

* Office take up in Lyon rose 7% on the year in 2016 to reach a record 292,000 square meters, surpassing the 2007 record of 285,000 square meters, PIE reported, citing JLL. A total of 562 transactions were carried out during the year, with telecommunication groups accounting for more than 50,000 square meters of transactions, the report added, citing BNP Paribas Real Estate.


Diös Fastigheter AB released the final results of its 1.85 billion-Swedish-kronor rights issue, wherein the company logged 59,629,748 subscription shares as of Jan. 26, up from the 59,601,660 shares it recorded Jan. 24.

Middle East

Bahrain-based developer Eagle Hills Diyar launched the Marassi Boulevard mixed-use development within the 875,000-square-meter Marassi Al Bahrain waterfront scheme, Arabian Business reported. The development will include four residential buildings, ranging from seven to 10 floors high, with more than 240 apartments containing up to three bedrooms.

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The Daily Dose Europe, Real Estate edition, is updated as of 6:30 a.m. London time. Some links require a subscription. Articles and links are correct as of publication time.

Celestyn Wong and Cam Nones contributed to this report.