In the first day of our annual Reuters Real Estate Summit, our first few guests were not seeing a lot of the so-called “green shoots” that other parts of the U.S. economy are supposed to be seeing.
The chief executive of Russian developer PIK Group sees one guarantee of his future success in an emergency decision made by the Soviet government of Nikita Khrushchev in the 1950s. Back then, tens of thousands of cramped communal flats were unpacked and whole families residing in single rooms were resettled into their own bright and new flats in hastily constructed five story kit buildings which came to be known as khrushchevki.
LaSalle Investment Managers said its assets under management in Asia could double in the next three years and added it is considering investing in India for the first time. LaSalle Investment holds about $11 billion in Asia property assets under management, and plans to make $10 to $15 billion worth of deals in the next years.