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MREC, Amaco agree to export real estate, promote Egypt-Saudi cooperation

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“The agreement stipulated promoting WAFIEX 2019 exhibition for selling off-plan real estate projects, which will kick off in Saudi Arabia from 9 to 11 March” writes Shaimaa Al-aees for dailynewsegypt.com. Mahmoud Abdel Halim, chairperson of MERC, said that the company has succeeded in acquiring 25% of WAFIEX 2019 to create an exhibition space for Egyptian companies willing to participate in the event after six years of Egyptian companies’ absence from the Saudi real estate market.Abdel Halim noted that his company has conducted market studies on the demand for Egyptian real…

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Markets News 

NYC hedge-fund managers and Silicon Valley CEOs are flocking to Miami as ‘tax refugees,’ and it’s sparking record, ultra-luxury real-estate sales in the area

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“Getty Images “Since the tax reform passed last January 2018, you’ve seen the top of the market speed up in terms of closed sales,” Puig told Business Insider” writes Katie Warren for businessinsider.com. The demographic that Puig jokingly refers to as “tax refugees” is spending big money in Miami. Source: businessinsider.com

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Markets News 

Qatar’s real estate market faces reality check ahead of World Cup

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“I don’t see a major threat,” Doha Bank CEO Raghavan Setharaman said, when asked about his view of the real estate market” reports businessinsider.com. Total retail space has doubled in three years and will grow 50 percent more by 2021 with nine new malls, according to DTZ. Beyond 2022, Qatar real estate faces an uncertain outlook. Source: businessinsider.com

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Google to spend $13 billion on real estate in 2019, expand into four states

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“Our data centers make a significant economic contribution to local communities, as do the associated $5 billion in energy investments that our energy purchasing supports.”” reports thehill.com. Tech giant Google will invest $13 billion in data centers and offices in the United States over the course of 2019 as the company expands its U.S. operations and breaks ground for the first time in four states.Some of the investments will also go towards making the new Google campuses run on sustainable energy, according to the blog post.”As part of our commitment…

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Google says it will spend $13B this year on expanding data centers and offices across the US, adding a new office in Virginia as it doubles its workforce there

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“Pichai outlined the plans, which include opening new data centers in Nevada, Ohio, Texas and Nebraska, the first time the company will have infrastructure locations in those states” writes Kate Fazzini for cnbc.com. CEO Sundar Pichai said in a blog post on Wednesday that the company is building new data centers and offices and expanding several key locations across the U.S., spending $13 billion this year.Far from its roots as an online advertising giant, Google is building out data centers to bolster its cloud-computing division as it tries to keep…

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Google will spend $13 billion on U.S. real estate in 2019, expanding into Nevada, Ohio and Texas

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“Pichai outlined the plans, which include opening new data centers in Nevada, Ohio, Texas and Nebraska, the first time the company will have infrastructure locations in those states” writes Kate Fazzini for cnbc.com. CEO Sundar Pichai said in a blog post on Wednesday that the company is building new data centers and offices and expanding several key locations across the U.S., spending $13 billion this year.Far from its roots as an online advertising giant, Google is building out data centers to bolster its cloud-computing division as it tries to keep…

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News Regulators 

Fed’s Bowman talks up community bank resilience as she notes pressures from commercial real estate, agriculture

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“She also was a senior executive of Farmers and Drovers Bank, a community bank in Council Grove, Kan., that her great-great grandfather helped charter in 1882” writes Senior Economics Reporter for marketwatch.com. Three out of four community banks hold assets of less than $500 million, Bowman said.Farm debt is increasing and delinquency rates on loans for both production and farm real estate have continued to edge higher, according to January report by the Kansas City Fed. Source: marketwatch.com

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People like the estate tax a whole lot more when they learn how wealth is distributed

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“That survey also revealed that many Americans had incorrect notions about the estate tax” writes Christopher Ingraham for latimes.com. Only 37% of respondents knew that the tax affects only a few families (less than 0.1% of people who die) each year.Thirty percent believed, incorrectly, that “most” families were subject to the tax. Sixty-three percent incorrectly believed that poor and middle-class families were primarily affected by the tax, even though it applied only to estates worth more than $5 million at the time the survey was administered. Source: latimes.com

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To sell a home fast, here’s what to focus on, real estate experts agree

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“Not every room or feature is equally important, real estate mogul Barbara Corcoran tells CNBC Make It” writes Kathleen Elkins for cnbc.com. “Realize that the buyer walks in and judges that house within 30 seconds,” she says.The first thing a buyer is going to see isn’t even inside the house: It’s the exterior, including features like your front door, mailbox, lawn and driveway. Source: cnbc.com

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Bernie Sanders just introduced a new plan to raise the estate tax for America’s billionaires all the way to 77%

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“A vast majority of Americans pay no estate tax since the exemption for the tax is very high” writes Bob Bryan for businessinsider.com. Read more: Alexandria Ocasio-Cortez’s 70% tax on the super-rich is more popular than Trump’s tax cuts, new poll shows» Sen.The estate tax applies to the assets of a deceased person as it gets passed down to their heirs.Bernie Sanders of Vermont on Thursday introduced a new plan to increase the US estate tax rate in an effort to prevent the concentration of wealth among the US’s richest…

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