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JPMorgan looks to cut office space in Manhattan - Bloomberg News

JPMorgan Chase & Co is looking to sublet big blocks of office space in Manhattan, Bloomberg News reported on Tuesday, citing people with knowledge of the matter. ....

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Dubai's Emaar Properties to merge Malls business in all-share deal

By Reuters Staff
2 Min Read
DUBAI (Reuters) - Dubai developer Emaar Properties on Tuesday said it was buying out minority shareholders of its shopping centre unit, less than a decade after floating shares in the company.
FILE PHOTO: The corporate logo of EMAAR is seen in Dubai, United Arab Emirates, December 28, 2018. REUTERS/ Hamad I Mohammed
The all-share deal comes as both businesses have seen profits plunge over the past year due to the coronavirus pandemic as fewer overseas visitors travel to Dubai.
Emaar Properties, which already owns close to 85% of Emaar Malls, will swap 0.51 of its own shares with shareholders of Emaar Malls, the two companies said. ....

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BRIEF-Spain's Merlin Properties expects fall in office occupancy in 2021

By Reuters Staff
Feb 25 (Reuters) - Merlin Properties Chief Executive Ismael Clemente says:
OUR DIVESTMENT BUDGET WILL BE 150-200 MILLION EUROS IN 2021, NO MORE SO AS NOT TO HURT FIRM’S RETURN ON EQUITY
WE EXPECT SMALL LOSS IN OFFICE OCCUPATION IN 2021 AS 15% OF OUR CONTRACTS WILL EXPIRE IN THE PERIOD
WE HAVE NO INTENTION OF SELLING BBVA OFFICES AS THIS PORTFOLIO WILL BENEFIT FROM REFLATION Source text for Eikon: Further company coverage: (Reporting by Clara-Laeila Laudette) ....

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UPDATE 1-China's Jan new home prices quicken as mega cities heat up

New home prices in China grew at a faster pace in January, driven by red-hot demand in the country's mega cities despite several rounds of government cooling measures, raising the challenge for policymakers as they try to curb financial risks. ....

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Work from home: Offices to remain deserted for months in Britain

It is premature to write off big cities such as London which will bounce back strongly as the pandemic wanes, British Prime Minister Boris Johnson said on Monday after unveiling a plan that will keep offices deserted for months more. ....

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