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Saudi Arabia begins securing financing agreements for various NEOM developments

Archinect

The early stages of the $500bn planned city will be financed by money raised from local lenders, according to sources familiar with the matter who spoke to Bloomberg. Another $800 million was secured recently towards the development of Sindalah , which is set to be the project’s first portion to open next year.

Finances 246
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Penn Station redevelopment takes another step forward following financing approval

Archinect

A key state oversight body approved the financing plan to redevelop Penn Station and its surrounding neighborhood Wednesday, greenlighting one of Gov. Additionally, a part of the financing plan includes charging the developers of the 10 skyscrapers planned for the site a fee instead of collecting city real estate taxes.

Finances 246
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Shaping China's Future: Foster + Partners Designs Mixed-Use Development within Shanghai's 2035 Masterplan

ArchDaily

Courtesy of Foster + Partners Foster + Partners has unveiled plans for the Changfeng mixed-use development in Shanghai , China. Designed as a component of the Shanghai Science and Technology Finance cluster in Putuo District, the project is part of the broader Shanghai 2035 Masterplan.

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NYT: Rising insurance costs impinging on affordable development efforts nationwide

Archinect

Unlike market-rate apartment developers, those building multifamily projects financed by subsidies and tax credits do not have the ability to simply pass on those higher insurance costs to tenants, since they are limited by government guidelines as to how much rent they can collect.

Insurance 276
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Ten timely new developments win 2024 ULI Americas Awards for Excellence

Archinect

The best new developments in North America as selected by the 2024 ULI Americas Awards for Excellence have been announced by the Urban Land Institute (ULI) in continuation of a tradition that dates to 1979. Over the years, the winners have touched on a host of other contemporary issues. The winners wi.

Developer 278
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India is taxing cryptocurrencies to finance its push for new infrastructure

Archinect

The country’s Finance Minister Nirmala Sitharaman said the package includes $2.68 Prime Minister Modi has said very publicly that he feels it is his responsibility to make infrastructure development a top priority for the world’s second-most populous country.

Finances 245
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Foster + Partners debuts Changfeng mixed-use development in Shanghai

Archinect

A new mixed-use design from Foster + Partners has been revealed for Shanghai’s Science and Technology Finance hub as part of the larger Shanghai 2035 master plan.

Developer 264