* Emaar Malls PJSC's net profit stood at approximately 1.10 billion United Arab Emirates dirhams in the first half, up 8% year over year from about 1.02 billion dirhams. Revenue for the period reached 2.10 billion dirhams, 29% higher from 1.62 billion dirhams in the first half of 2017.
* Two of Hammerson PLC's large shareholders told Reuters that the retail landlord's proposed shift in strategy would not be sufficient to push up its share price close to 635 pence, the price that French retail real estate investment trust Klépierre had offered to pay for the company.
Hammerson plans to sell £1.1 billion worth of assets by 2019-end, following an 80.7% year-over-year tumble in its first-half pretax profit.
* CLS Holdings PLC set the redemption price for its £65 million worth of 5.50% senior unsecured bonds at £105.745977 per £100 in principal amount, inclusive of accrued interest, taking the total redemption price to roughly £68.4 million, exclusive of accrued interest.
* Investment company KKR & Co. and Urban Exposure launched a joint venture to fund housing development projects across the U.K. The lending program has an initial size of £165 million, according to a joint release.
* German lender pbb Deutsche Pfandbriefbank loaned a £107 million facility to fund South Korea-based Hana Financial Investments' purchase of the Gallagher Retail Park in Wednesbury. Hana Financial and a Korea Asset Investment Management fund bought the asset for £175 million from Quadrant Estates Ltd. and KKR.
* Flexible workspace operator WeWork Cos. signed a lease deal with M&G Real Estate to take up the entire 1 Waterhouse Square, or Holborn Bars, property in London, Property Week reported.
* Peel Properties has chosen to work with Countryside Properties and Home Group on its £137 million mixed-use project at South Kilburn in north London, according to Construction Enquirer. The development, which forms part of a £400 million regeneration, includes seven new buildings containing residential and retail space and a health center.
* City planners accepted revised plans for the £112 million Guggenheim of the North arts building project in Manchester, Construction Enquirer reported. Laing O'Rourke is in pole position to deliver the center, which will contain a 2,300-capacity theater, as well as a 5,000-capacity warehouse.
* German discount chain Lidl is looking to secure approval for new stores around London through the development of 3,000 homes and a primary school, The (U.K.) Guardian reported. The company intends to open at least 50 stores in the U.K. per year.
* Construction Enquirer reported that local planners approved Litton Property Group and Buccleuch Property's development of an 860-bed student housing project in Sheffield. The student beds will be delivered across four connected blocks, the report added.
* Linkcity secured consent to deliver 620 new homes and 50 extra care homes in the third phase of its Hallsville Quarter development in Canning Town, in the London Borough of Newham, PW reported. Plans for the overall development project include retail, offices and leisure spaces, a hotel, student accommodation facilities, and 1,148 new homes, with completion slated for 2023.
* Thailand-based Minor International PCL will continue with its proposed €2.5 billion acquisition of NH Hotel Group SA as it remains unfazed by rival interest from Hyatt Hotels Corp. Minor is in talks to increase its stake in the Spanish hotel company to between 55% and 65%.
* French retail landlord Carmila SA intends to achieve double-digit growth in its recurring earnings for full year 2018, driven by a growth in activity from its business transformation during the first half. Additionally, the company's deputy CEO, Yves Cadelano, stepped down and was replaced by Sébastien Vanhoove.
* BNP Paribas Real Estate Investment Management bought the new 7,000-square-meter Gabrielen Lofts building in Munich on behalf of its Next Estate Income Fund III, Property Investor Europe reported. The property is fully leased to five tenants and has a Building Research Establishment Environmental Assessment Method, or BREEAM, Very Good certification.
* Action Hotels PLC gave its major shareholder Action Group Holdings (KSCC) a deadline extension to confirm whether it plans to make an offer for the Dubai-based hotelier. The group's unit, Action Real Estate Co. KSCC, now has until Aug. 9 to reach a decision.
Other real estate news
* Corestate has set up a value-add investment program to target investments with a high yield potential across several mid-sized European cities for its Club Deal clients, according to a release. The five-year strategy has an investment volume of €100 million to €150 million, which will be invested in under-managed office, residential and retail assets in Germany, the Netherlands, Poland, Spain and the U.K.
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Celestyn Wong contributed to this report.