real estate – RGLB http://rglb.org/ Wed, 13 Apr 2022 10:07:02 +0000 en-US hourly 1 https://wordpress.org/?v=5.9.3 https://rglb.org/wp-content/uploads/2021/06/icon-2021-06-25T174556.459-150x150.png real estate – RGLB http://rglb.org/ 32 32 What Recent ELTIF Developments Mean for the Real Estate Market | Allen & Overy LLP https://rglb.org/what-recent-eltif-developments-mean-for-the-real-estate-market-allen-overy-llp/ Wed, 16 Mar 2022 17:36:00 +0000 https://rglb.org/what-recent-eltif-developments-mean-for-the-real-estate-market-allen-overy-llp/ What is an ELTIF? The ELTIF is a closed fund which can however be listed. It offers a unique opportunity for institutional and retail investors to invest in a wide range of different asset types, including real estate assets, infrastructure projects, private equity and listed companies whose market capitalization does not exceed not 500 million […]]]>

What is an ELTIF?

The ELTIF is a closed fund which can however be listed. It offers a unique opportunity for institutional and retail investors to invest in a wide range of different asset types, including real estate assets, infrastructure projects, private equity and listed companies whose market capitalization does not exceed not 500 million euros. In addition, the ELTIF benefits from a marketing passport enabling the distribution of fund units in all the countries of the European Economic Area.

It is not a new vehicle. Regulation (EU) 2015/760 of 29 April 2015 on European long-term investment funds (the ELTIF Regulation) already entered into force at the end of 2015, but has so far seen only limited adoption. Based on the register maintained by ESMA, only 67 ELTIFs have been registered, most of them having Luxembourg as their home Member State. For the moment, there is no Belgian ELTIF.

However, recent developments are likely to increase interest in these vehicles, especially in Belgium. The European Commission has just made a proposal to make the ELTIF more attractive for sponsors, managers and investors (proposal published on November 5, 2021). At the Belgian level, the recent adoption of a specific tax regime for ELTIFs should further increase interest in this type of fund for sustainable projects and real estate investments.

What is its use in a real estate context?

ELTIFs can invest in specific types of assets, including real estate. In the context of the EU, a real asset is any asset that has value because of its substance and properties and that can generate returns. Real assets include infrastructure assets and other assets that give rise to economic or social benefits (including education or research and development). Investments in commercial property or residential projects are also allowed, provided they are part of a long-term investment project that contributes to the EU objective of smart, sustainable and sustainable growth. inclusive. In this regard, the new regulation proposed by the EU is expected to broaden the scope of real asset investment strategies that ELTIF managers can pursue.

It should be noted in particular in the context of real estate investments (i) that real estate assets are only eligible for investment by an ELTIF (directly or indirectly through a holding company) only when the real estate asset individual has a value of at least EUR 10,000,000 (it being understood that the European Commission has now proposed to reduce this threshold to EUR 1,000,000) and (ii) the diversification requirement. In accordance with this diversification requirement, ELTIFs may in particular not invest more than 10% of their capital directly or indirectly in a single real asset. This limit may be increased to 20%, provided that the aggregate value of the assets held by the ELTIF in individual real estate assets in which it invests more than 10% of its capital does not exceed 40% of the value of the capital of the ELTIF. However, the proposed new regulation is expected to ease these restrictions for ELTIFs marketed only to professional investors.

ELTIFs are an interesting alternative to the vehicles of Belgian specialized real estate investment funds (FIIS/GVBF) commonly used on the Belgian real estate market, in particular for the following reasons:

  • ELTIFs are not subject to the 10-year investment ceiling set for Belgian specialized real estate investment funds;
  • ELTIFs benefit from a harmonized European label for financial products, which allows for EU-wide distribution to professional and retail investors; and
  • The distribution rules applicable to ELTIFs are more flexible than those of other Belgian real estate investment funds; in particular, ELTIFs are not subject to the obligation to distribute 80% of their income.

We note, however, that ELTIFs may only be managed by EU alternative investment fund managers authorized under the AIFM Directive and specifically authorized by the competent authority to manage the relevant ELTIF. The status of specialized real estate investment fund is also open to certain types of entities which are not as such qualified as alternative investment funds within the meaning of the Belgian AIFM regulations (for example joint ventures or single-shareholder investment fund). In this case, the specialized real estate investment fund does not necessarily have to be managed by an approved alternative investment fund manager.

What is the tax treatment of an ELTIF?

Legislation creating a new tax regime for ELTIFs was published in the Official Gazette on January 28, 2022. It contains the following key features.

The treatment of income from ELITF companies will be organized in accordance with article 185bis of the Belgian Income Tax Code. In other words, corporation tax will only be applicable on a very limited tax base made up of abnormal or benevolent advantages received and certain disallowed expenses. In most cases, this will effectively lead to corporate tax neutrality.

Dividend distributions are also treated favorably. In particular, while dividends received by a Belgian investment company are in principle taxable at the normal corporate tax rate of 25%, ELTIFs can offer their Belgian corporate investors the benefit of the DRD regime, effectively preventing taxation at the level of the investor for the corresponding income if several conditions are met. It should be noted that the benefit of the DRD regime is not subject to the requirement that the vehicle’s articles of association provide for an annual distribution of 80% (as is the case for FIIS/GVBF and SIR/GVV).

For non-Belgian corporate investors, the ELTIF tax regime provides for an exemption from Belgian withholding tax on distributions made by ELTIFs from dividends and capital gains on shares if certain conditions are met. It is important to note that ELTIFs could also be eligible for reductions or exemptions from withholding tax under the Belgian network of tax treaties, subject however to the opinion to be adopted by the other State concerned.

We further note that investment vehicles regulated by the Belgian Financial Services and Markets Authority, including ELTIFs, are subject to an annual subscription tax in Belgium at the rate of 0.0925% on net assets placed in Belgium, or at a reduced rate of 0.01% for shares dedicated to qualified non-retail investors.

More information ?

See our general eAlert on ELTIFs: link. We are further available to discuss the above and the opportunities it creates for your business and your business.

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Week Ahead – Central Banks https://rglb.org/week-ahead-central-banks/ Sat, 12 Mar 2022 04:10:00 +0000 https://rglb.org/week-ahead-central-banks/ tobiasjo/E+ via Getty Images Rate hike expected as inflation continues to rise The week was once again volatile in financial markets, with events in and around Ukraine continuing to dominate. Sentiment still dominates the headlines and huge uncertainty remains around the outcome of the talks between Ukraine and Russia and the sanctions imposed on the […]]]>

tobiasjo/E+ via Getty Images

Rate hike expected as inflation continues to rise

The week was once again volatile in financial markets, with events in and around Ukraine continuing to dominate. Sentiment still dominates the headlines and huge uncertainty remains around the outcome of the talks between Ukraine and Russia and the sanctions imposed on the latter by the West.

This in turn creates enormous uncertainty about the global economic outlook, with soaring commodity prices posing a massive downside risk to growth and an upside risk to inflation. Central banks were already between a rock and a hard place before the invasion as they sought to control inflation without hurting the post-pandemic recovery. Soon they may be forced to choose between inflation and recession.

The ECB chose to proceed as planned and announced a reduction in asset purchases which could lay the groundwork for rate hikes later this year or next. The Fed and BoE are expected to do the same with rate hikes expected next week. The CBRT is expected to leave rates unchanged again, while the CBR is much more unclear after opting to more than double its key rate to 20% in response to Western sanctions a few weeks ago.

we

The Fed is expected to finally start tackling inflation by ending QE and hiking rates by a quarter point next week. Given the impact of the war in Ukraine, inflation is expected to continue to warm over the next two months, which should keep the pressure on the Fed to raise rates.

Investors will pay particular attention to the February retail sales report which should show that the consumer is still managing the current price spikes.

EU

Russian forces are stepping up their attacks on Ukraine even as negotiations continue between the two countries and Putin reports that progress is being made. The invasion remains the biggest risk to the region’s economic outlook, as the ECB alluded to this week.

However, it will start to reduce its asset purchases in order to face record levels of inflation. Markets are still expecting increases of 30 to 40 basis points this year. We will have an inflation update next week when the final HICP data comes out on Thursday.

UK

The Bank of England is widely expected to raise interest rates again on Thursday – the third straight increase of 25 basis points – and will likely pave the way for at least another at the following meeting. The risks to the outlook are clearly on the downside, but inflationary pressures are strong and the central bank is determined to rein in domestic forces before it’s too late.

Labor market data will also be released on Tuesday, with the earnings component likely to be the most important aspect given central bank concerns over domestically generated inflation.

Russia

The CBR raised interest rates to 20% a few weeks ago from 9.5% previously, in response to tough Western sanctions. Since then, the currency has continued to struggle and is not too far off its lows.

Sanctions continue to hit Russia and the central bank may have no choice but to raise rates again, either next week or anytime between meetings, depending on how the situation evolves. situation.

Putin has indicated that the talks are going in the right direction, but the attacks are intensifying so we can take his words with a grain of salt.

South Africa

The rand recovered some of its declines in recent days in line with reversals in risk appetite. However, it remains vulnerable to sharp declines again, with events in and around Ukraine remaining a dominant force for the currency. Unemployment and retail sales data will take center stage next week.

Turkey

The pound has been sensitive to market risk appetite in recent weeks, with soaring commodity prices amid already sky-high inflation understandably a major concern. It is trading at its lowest level since mid-December against the dollar.

Next week, the central bank’s decision will be the highlight. The CBRT will obviously not back down and the direction of travel will ultimately depend on its monetary policy review. Rates are expected to remain at 14% this month.

China

Chinese stocks are under pressure as US-listed ADRs fall dramatically on US delisting fears and regulatory headwinds in the country. Complicating the picture is the huge jump in commodity and energy prices, with the government urging state refiners to halt April exports to preserve domestic supplies.

With risk sentiment also being tested due to Ukraine, slowing economic activity and a slowing property market, Chinese equities remain vulnerable to further selling.

USD/CNY remained pegged around 6.33 as authorities seemed content with yuan strength, perhaps with an eye on soaring import bills from China.

China released its fixed asset investment, retail sales and industrial production on Tuesday along with soft data that again raised negativity around a Chinese slowdown.

Also keep an eye on the number of Covid-19 cases in China, which has soared to 1,000 cases per day. Other major lockdowns could be in the works as they keep Covid-zero.

India

India’s inflation rate expected on Monday carries upside risks, and Tuesday’s trade balance poses downside risks, as Ukraine-induced turmoil in commodity markets threatens the recovery of the economy. ‘India.

With Chinese equities slumping, it seems speculative money has once again turned to Indian equities, supporting both stock and currency markets last week.

Near-term market direction will be dominated by headlines from the Russian-Ukrainian conflict.

Australia

The Aussie dollar held onto most of its gains recently, despite choppy trading, thanks to the huge jump in commodity prices. The flows of feelings have taken precedence over the natural resources of this lucky country. Australia releases employment data on Thursday, which is always good for some intraday volatility for the AUD.

Resources aside, equities remain at the mercy of the ebbs and flows of Eastern European headlines.

New Zealand

New Zealand is releasing its fourth quarter GDP and current account this week, but both are old news in the context of market developments.

The NZD has, like the AUD, endured choppy trading but is maintaining its gains as a base currency, albeit only an agricultural one. It therefore remains more vulnerable than the AUD to fluctuations in sentiment.

Japan

Japan releases Reuters Tankan, Machinery Orders and Inflation this week, but none will have a significant impact on markets, with BOJ officials signaling conditions in the economy are not yet there to the point where the monetary stimulus can be reduced. This leaves USD/JPY at the mercy of the US/Japan rate differential which widened sharply last week pushing USD/JPY above 116.00.

Japanese equities, dominated by rapid cash flows, had a tough week, almost exactly following the direction of US markets. They remain entirely at the mercy of swings in sentiment, although fears of a recession in import prices would temper any gain anyway.

Economic calendar

Monday March 14

Economic data/events

India CPI

France trade

Trade of Russia

New Zealand housing sales, net migration

wholesale prices in india

BP Annual Energy Outlook

tuesday march 15

Economic data/events

Chinese industrial production, liquidity operations

CPI Poland

CPI France

Euro area industrial production

India Trade Data

UK unemployment rate

Unemployment rate in South Africa

Sales of existing homes in Canada, housing starts

New Zealand Performance Services Index

Australian Consumer Confidence, House Price Index

China real estate investment, year-to-date retail sales, jobless survey

Expectations from the ZEW survey in Germany

Mexico’s international reserves

US cross-border investment, empire making, PPI

Wednesday March 16

Economic data/events

FOMC decision: Should raise interest rates by 25 basis points

U.S. retail sales, trade inventories

Release of RBA Minutes

IPC Canada

UK Chancellor Sunak answers questions from MPs

CPI Italy

Retail sales in South Africa

New Zealand BoP

Australia Leading Index

New house prices in China

Extraordinary Meeting of NATO Defense Ministers

UK Treasury updates its forecast for the economy

Capacity utilization in Japan, industrial production, trade, department store sales

EIA Crude Oil Inventory Report

Thursday March 17

Economic data/events

US Housing Starts, First UI Claims, Industrial Production

Eurozone CPI

BOE rate decision: expected to raise rates by 25bps to 0.75%

Central Bank of Turkey (CBRT) Rate Decision: Should hold rates at 14.00%

Registrations of new cars in the euro zone

Unemployment in Australia

New Zealand GDP

Singapore electronics exports, non-oil domestic exports

Japan Machinery Orders, Bloomberg Economic Survey

Trade of Spain

ECB President Lagarde, Executive Board Member Schnabel, Governing Council Member Visco and Chief Economist Lane speak at the ‘ECB and its Observers’ conference at Goethe University in Frankfurt.

Friday 18th March

Economic data/events

BOJ Rate Decision: Expected to keep policy unchanged

Russian Central Bank (RBC) must meet: should keep rates stable

U.S. Conference Board Leading Index, Existing Home Sales

Fed’s Barkin speaks at the Maryland Bankers Association’s First Friday Economic Outlook Forum

Britain’s Prime Minister Johnson speaks at the Conservative Party’s two-day Spring Conference

U.S. National Weather Service Releases Spring Flood Assessment

Trade Italy

Retail sales in Canada

Japan Tertiary Index, CPI

Thailand futures, foreign exchange reserves, car sales

Sovereign Ratings Updates

– Belgium (Fitch)

– Belgium (S&P)

– Spain (S&P)

– European Union (Moody’s)

– Greece (Moody’s)

– Greece, (DBRS)

Original post

Editor’s note: The summary bullet points for this article were chosen by the Seeking Alpha editors.

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Global Real Estate Market Report 2022 https://rglb.org/global-real-estate-market-report-2022/ Fri, 11 Mar 2022 14:45:00 +0000 https://rglb.org/global-real-estate-market-report-2022/ DUBLIN, March 11, 2022 /PRNewswire/ — The “Global Real Estate Market Report 2022 by Type, Mode, Property Type” report has been added to from ResearchAndMarkets.com offer. This report provides strategists, marketers and senior management with the essential information they need to assess the global real estate market as it emerges from the COVID-19 shutdown. The […]]]>

DUBLIN, March 11, 2022 /PRNewswire/ — The “Global Real Estate Market Report 2022 by Type, Mode, Property Type” report has been added to from ResearchAndMarkets.com offer.

This report provides strategists, marketers and senior management with the essential information they need to assess the global real estate market as it emerges from the COVID-19 shutdown.

The global real estate market is expected to grow from $3386.11 billion in 2021 for $3741.06 billion in 2022 at a compound annual growth rate (CAGR) of 10.5%. The growth is mainly due to companies reorganizing their operations and recovering from the impact of COVID-19, which had previously led to restrictive containment measures involving social distancing, remote working and the closure of business activities that resulted in operational challenges. The market should reach $5388.87 billion in 2026 at a CAGR of 9.6%.

Reasons to buy

  • Get a truly global perspective with the most comprehensive market report available covering over 50 geographies.
  • Understand how the market is affected by the coronavirus and how it is likely to emerge and grow as the impact of the virus diminishes.
  • Create regional and national strategies based on local data and analysis.
  • Identify growth segments for investment.
  • Outperform your competition using forecast data and the drivers and trends shaping the market.
  • Understand customers based on the latest market research.
  • Benchmark performance against leading competitors.
  • Use relationships between key data sets for better strategy.
  • Suitable to support your internal and external presentations with reliable high quality data and analysis

The description:

Where is the largest and fastest growing market for real estate? What is the relationship between the market and the overall economy, demographics and other similar markets? What forces will shape the market in the future? The Global Real Estate Market Report answers all these questions and more.

The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces historical and forecast market growth by geography. It places the market in the context of the broader real estate market and compares it to other markets.

  • The market characteristics section of the report defines and explains the market.
  • The market size section gives the market size (in billions of dollars) covering both the historical market growth, the impact of the COVID-19 virus and the forecast of its recovery.
  • Market segmentations break down the market into sub-markets.
  • The regional and country breakdowns section gives an analysis of the market in each geography and the market size by geography and compares their historical and forecast growth. It covers the impact and recovery trajectory of COVID-19 for all regions, major developed countries and major emerging markets.
  • The competitive landscape gives a description of the competitive nature of the market, market shares and a description of the major companies. The main financial transactions that have shaped the market in recent years are identified.
  • The trends and strategies section analyzes the shape of the market coming out of the crisis and suggests how companies can grow as the market recovers.
  • The property market section of the report provides context. It compares the real estate market with other service market segments by size and growth, historical and forecast. It analyzes the proportion of GDP, expenditure per capita, comparison of real estate indicators.

Major companies in the real estate market include Mitsui Fudosan Co. Ltd., Daito Trust Construction Co. Ltd., Brookfield Asset Management, American Tower Corporation, Sun Hung Kai Properties Limited, CapitaLand Limited, Realogy Holdings Corp., Xiamen C&D, Simon Property Group Inc. and Berkshire Hathaway Inc.

The real estate market consists of sales of real estate services by entities (organizations, sole proprietorships, and partnerships) that rent, lease, and permit the use of buildings and/or land. The industry also includes the management of real estate for others, the sale, rental and purchase of real estate for others, and the appraisal of real estate. The real estate market is segmented into real estate rental and real estate agency and brokerage.

The main types of real estate are real estate rental, real estate agency and brokerage. Leasing real estate, also known as leasing or leasing, is a contract in which a fee is paid in exchange for the temporary use of a good, service or property owned by someone. ‘other. The different modes include online, offline and involve different types of properties such as fully furnished, semi-furnished, unfurnished.

Growth in the real estate market will be aided by steady economic growth expected in many developed and developing countries. The International Monetary Fund (IMF) forecasts that global real GDP growth will be 3.7% in 2019 and 2020, and 3.6% from 2021 to 2023. The recovery in commodity prices, after a significant decline in the over the historic period, is further expected to help the market grow. Developed economies are also expected to record steady growth over the forecast period. Additionally, emerging markets are expected to continue to grow slightly faster than developed markets over the forecast period. For example, india GDP is expected to grow by 7.3%, while China is expected to register GDP growth of 6.2% in 2019.

The coronavirus disease (COVID-19) outbreak has acted as a massive strain on the real estate market in 2020 as the need for the services offered by these establishments has diminished due to lockdowns imposed by governments around the world. COVID-19 is an infectious disease with flu-like symptoms including fever, cough and difficulty breathing. The virus was first identified in 2019 in Wuhan, Hubei province of the People’s Republic of China and spread globally, including Western Europe, North America and Asia. Measures taken by national governments to contain transmission have led to a decline in economic activity as countries enter a state of ‘lockdown’ and the outbreak has negatively impacted businesses throughout 2020 and into in 2021. However, the real estate market is expected to recover from the shock throughout the forecast period, as this is a ‘black swan’ event and not related to weaknesses. persistent or fundamental market or global economy.

Asia Pacific was the largest real estate market region in 2021. North America was the second largest region in the real estate market. The regions covered in this report are Asia Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

The countries covered by the real estate market are Argentina, Australia, Austria, Belgium, Brazil, Canada, Chile, China, Colombia, Czech Republic, Denmark, Egypt, Finland, France, Germany, hong kong, India, Indonesia, Ireland, Israel, Italy, Japan, Malaysia, Mexico, Netherlands, New Zealand, Nigeria, Norway, Peru, Philippines, Poland, Portugal, Romania, Russia, Saudi Arabia, Singapore, South Africa, South Korea, Spain, Sweden, Switzerland, Thailand, TurkeyUnited Arab Emirates, United Kingdom, United States, Venezuela and Vietnam.

Main topics covered:

1. Summary

2. Structure of the report

3. Characteristics of the real estate market
3.1. Market definition
3.2. Key segments

4. Real Estate Market Product Analysis
4.1. Featured products/services
4.2. Key Features and Differentiators
4.3. Development products

5. Real Estate Market Supply Chain
5.1. Supply chain
5.2. Distribution
5.3. End customers

6. Information on real estate market customers
6.1. Customer preferences
6.2. End-use market size and growth

7. Real estate market trends and strategies

8. Impact of COVID-19 on real estate

9. Size and growth of the real estate market
9.1. Market size
9.2. Historical Market Growth, Value (Billions of dollars)
9.2.1. Market Drivers
9.2.2. Market Constraints
9.3. Market growth forecast, value (in billions of dollars)
9.3.1. Market Drivers
9.3.2. Market Constraints

10. Regional Real Estate Market Analysis
10.1. Global Real Estate Market, 2021, by Region, Value (USD Billion)
10.2. Global real estate market, 2016-2021, 2021-2026F, 2031F, historical and forecast, by region
10.3. Comparison of the global real estate market, growth and market share, by region

11. Segmentation of the real estate market
11.1. Global real estate market, segmentation by type, history and forecast, 2016-2021, 2021-2026F, 2031F, billions of dollars
11.2. Global real estate market, segmentation by mode, historical and forecast, 2016-2021, 2021-2026F, 2031F, billions of dollars
11.3. Global real estate market, segmentation by property type, history and forecast, 2016-2021, 2021-2026F, 2031F, billions of dollars

12. Segments of the real estate market
12.1. Global real estate rental market, segmentation by type, 2016-2021, 2021-2026F, 2031F, value (USD billion) – Rental services of residential buildings and dwellings; Non-residential building rental services; Rental services of mini-warehouses and self-storage units; Other rental services
12.2. Global Real Estate Agency and Brokerage Market, Segmentation by Type, 2016-2021, 2021-2026F, 2031F, Value (USD Billion) – Residential Property and Housing Brokers; Brokers in non-residential buildings; Brokers of mini-warehouses and self-storage units; Other brokers

13. Real estate market measures
13.1. Real estate market size, percentage of GDP, 2016-2026, global
13.2. Average per capita spending on the real estate market, 2016-2026, world

For more information about this report visit https://www.researchandmarkets.com/r/339p9d

Media Contact:

Research and Markets
Laura Woodsenior
press@researchandmarkets.com

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Quote View original content: https://www.prnewswire.com/news-releases/real-estate-global-market-report-2022-301500890.html

SOURCE Research and Markets

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Keller Williams Expands into Guyana Amid Record Global Growth | News https://rglb.org/keller-williams-expands-into-guyana-amid-record-global-growth-news/ Thu, 10 Mar 2022 19:00:47 +0000 https://rglb.org/keller-williams-expands-into-guyana-amid-record-global-growth-news/ AUSTIN, Texas–(BUSINESS WIRE)–March 10, 2022– Keller Williams (KW), the world’s largest real estate franchise by number of agents, continues to grow rapidly across the globe. As of December 31, 2021, KW increased sales volume by 88.7% outside the United States and Canada to $12.1 billion, compared to YE ’20. “We closed 2021 with continued record […]]]>

AUSTIN, Texas–(BUSINESS WIRE)–March 10, 2022–

Keller Williams (KW), the world’s largest real estate franchise by number of agents, continues to grow rapidly across the globe. As of December 31, 2021, KW increased sales volume by 88.7% outside the United States and Canada to $12.1 billion, compared to YE ’20.

“We closed 2021 with continued record global growth,” said William E. Soteroff, president of Keller Williams Worldwide (KWW), the international division of kwx, KW’s holding company. “As of March 1, we now had over 15,000 agents in 54 regions around the world, which represents a solid foundation to continue to expand our market share aggressively in 2022.”

KWW Momentum(production outside the United States and Canada at the end of 2021)

  • As of December 31, agents closed 63,600 transactions, up 57.8% from YE ’20.
  • Agents achieved sales volume of $12.1 billion, up 88.7% from YE ’20.
  • Agents saw 107.8,000 new listings (new market inventory), up 17.6% from year 20.
  • Agents wrote 74,600 contracts (expected closings), up 46.6% from YE ’20.
  • The volume of contracts written was $10.9 billion, up 69.9% from YE ’20.

As the momentum continues, KW has awarded a new master franchise in Guyana. Led by Regional Operations Manager Stefan John, KW Guyana is currently initializing its operations. In Q2 22, KW Guyana is expected to open its first market center.

“We are thrilled to announce that we are in business with Stefan, a phenomenal leader who is set to build and embody our culture in Guyana, our ninth master franchise in South America,” said Soteroff. “Stefan and his top leaders understand our disruptive model and how it enables agents to thrive.”

A seasoned entrepreneur, John founded D&J Group Inc., a company focused on logistics and real estate services for the oil and gas industry. With nearly a decade of experience facilitating real estate brokerage services across Guyana, John is a well-established business leader in Guyana.

“The real estate market is growing more than any other industry outside of oil and gas in Guyana,” John said. “KW will be the preferred agency that everyone will go to, mainly because the agents will be better trained than anyone else.”

“The technology is also positioned well ahead of the competition, and our marketing will be unmatched because of what KW offers franchisees,” John said.

KWW is currently exploring new expansion opportunities in Africa, Central and South America, Central and Eastern Europe and throughout Asia.

The basic criteria for new licensees starts with having a qualified management team rooted in the Keller Williams culture; the company also aims for stability in the government, banking and judicial system and a higher level of maturity for a real estate market.

Outside of the United States and Canada, KWW regions include: Albania; Argentina; Aruba; Belgium; Belize; Bermuda; Cambodia; Chile; Colombia; Costa Rica; Cyprus; Czech Republic; Dominican Republic; Dubai, United Arab Emirates; France; Greece; Guyana; Honduras; Indonesia; Ireland; Israel; Italy; Jamaica; Japan; Luxemburg; Malaysia; Mexico; Monegasque; Mongolia; Morocco; Nicaragua; Northern Cyprus; Panama; Paraguay; Peru; Philippines; Poland; Portugal; Porto Rico; Romania; Sao Paulo, Brazil; Serbia; Saint-Martin ; Slovenia; South Africa; Spain; Suriname; Thailand; Turkey; Turks and Caicos Islands; UK; Uruguay; and Vietnam.

About Keller Williams

Based in Austin, Texas, Keller Williams, the world’s largest real estate technology franchise by number of agents, has more than 1,100 offices and 200,000 associates. The franchise is also #1 in units and sales volume in the United States. kwx is the holding company of Keller Williams.

In 2020 Keller Williams initially started training kwx. kwx is made up of Keller Williams, Keller Williams Worldwide and Keller Home Financial Services, comprising Keller Mortgage, Keller Offers, Keller Covered, Keller Title and The Partnership Program.

Since 1983, the company has cultivated an agent-centric, technology-driven, education-based culture that rewards agents as stakeholders. For more information, visit kwx.kw.com.

See the source version on businesswire.com: https://www.businesswire.com/news/home/20220310005669/en/

CONTACT: Darryl G. Frost

Director of Public Relations and Media Relations

darryl.frost@kw.com/ 254-466-3627

KEYWORD: UNITED STATES SOUTH AMERICA GUIANA NORTH AMERICA TEXAS

SECTOR KEYWORD: RESIDENTIAL BUILDING & REAL ESTATE COMMERCIAL BUILDING & REAL ESTATE CONSTRUCTION & REAL ESTATE REIT

Source: Keller Williams

Copyright BusinessWire 2022.

PUBLISHED: 03/10/2022 14:00 / DISK: 03/10/2022 14:00

http://www.businesswire.com/news/home/20220310005669/en

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Leveraging Technology to Improve Financial Inclusion in the United States https://rglb.org/leveraging-technology-to-improve-financial-inclusion-in-the-united-states/ Wed, 09 Mar 2022 20:59:44 +0000 https://rglb.org/leveraging-technology-to-improve-financial-inclusion-in-the-united-states/ By Ismail Amla, Executive Vice President, Professional Services, NCR Corporation The benefits of financial inclusion are known and numerous. Households that lack access to bank accounts or relatively affordable mechanisms for receiving, paying, and spending money end up spending a significantly higher percentage of their income on cash-intensive financial options. These options, like money orders […]]]>

By Ismail Amla, Executive Vice President, Professional Services, NCR Corporation

The benefits of financial inclusion are known and numerous. Households that lack access to bank accounts or relatively affordable mechanisms for receiving, paying, and spending money end up spending a significantly higher percentage of their income on cash-intensive financial options. These options, like money orders and payday loans, tend to have much higher fees and usurious interest rates. Households suffering from financial exclusion are disproportionately poor and less educated. The highest percentages of these excluded households are found in the least affluent countries. But even in the United States, according to the latest FDIC surveys, 5.4% of households were unbanked. This group represents 7.1 million households. The exclusion of people from the financial system also hinders economic growth; money that could have been spent on goods, services, and education is instead trapped in the cash economy or used to pay punitive fees and interest.

I believe the world is at a signing moment. Just as economic growth has dramatically reduced poverty rates around the world, ubiquitous, cheap, and connected technology can dramatically reduce rates of financial exclusion. It is now up to companies like NCR and the entire fintech ecosystem to work collectively to make this happen. Together, we believe we can dramatically reduce financial exclusion over the next five years in the developed world and over the next decade in the developing world.

Promoting greater access to technology, greater openness of the financial system, and a stronger and fairer market for financial products will enable us to achieve this goal. Combined, these three force factors are already at the origin of a rapid fintech revolution. This revolution is both a moral imperative to improve lives and a one-of-a-kind business opportunity that will benefit society by increasing overall economic growth.

Although the digital divide still exists, technological advances and cost reduction are rapidly avoiding this divide. According to Our World in Data, 640,000 new people come online every day. Smartphones and access to cheap or free data are the essential instrument of progress. Today, low-end smartphones cost less than $100, and forward-thinking carriers, such as India’s Jio, are offering low-cost wireless data plans. While smartphone data plans vary widely from country to country and are often expensive, Wi-Fi access is much cheaper and often free. If these trends continue, the number of people without Internet access will continue to decline.

A whole generation of new banks, such as Chime and Monzo, have built businesses entirely based on mobile phone apps. In China, for example, where digital payments are now the dominant form of exchange, the phone has become the main gateway to financial services. In developed countries, fewer people are using cash and employers are rapidly moving away from paper check payments. COVID has further accelerated the transition from cash to digital payments.

Traditionally, the unbanked and underbanked use digital financial services at a much lower rate than higher demographic households. But we have clear evidence that digital financial inclusion can work in less developed economies. In Africa, more than 200 million people use mobile electronic payment systems. In Kenya, M-Pesa mobile payment systems are almost universally adopted. With smart product designs, we can change that. The M-Pesa system was designed with local culture and values ​​in mind.

The enormous pressure that emerging fintech is placing on traditional banking processes is driving a welcome unbundling of financial services and multi-tiered competition. Venmo, for example, offers to give customers who set up direct deposit instant access to paychecks. Traditionally, banks have taken a day or two to process these deposits. For the poor and financially excluded, two days can mean the difference between paying rent on time and incurring a penalty. Unbanked users who wish to transfer money across borders for relatively small sums, as is often the case with remittances, can now choose from several options, including cryptocurrencies. Zelle, which is managed and owned by a consortium of major US banks, allows users with accounts to instantly transfer money at no cost.

While the winds of tech trends may be at our backs and the rapid rise of fintech may provide the impetus to rethink financial services, there are still a number of concrete steps that the financial services industry should consider. .

  • Remove common obstacles. Minimum fee balances or service charges drive away low-income consumers. In fact, according to the World Bank, the number one reason unbanked people don’t have an account is simply because they don’t have enough money. Clearly, this is something that is doable. CapitalOne, a major US bank, has just announced that it is waiving overdraft fees while continuing to offer overdraft protection.
  • Encourage mobile banking. According to the World Bank, low-income consumers tend to have a mobile connection rather than home Internet access. Designing banking products and mobile financial services that appeal to the unbanked will reduce exclusion. It is also a good universal product design. There’s a very good reason why the dominant financial platform in most parts of the world that are mostly unbanked or only recently banked is the smartphone.
  • Expand access points to advanced digital services. There’s a good reason why convenience stores, supermarkets, and other stores all have ATMs. Indeed, ATMs attract customers and make it easier for them to pay. In the digital economy, these same access points can take on equally important significance for stores as centers for the digital delivery of financial services, which could even be co-branded between banks and stores. Physical real estate combined with smart digital hotspots bring services closer to community members who might not walk to a bank branch on their own – and who otherwise would not have easy access.
  • Choose prepaid products. In 2017, nearly 27% of unbanked U.S. households used prepaid cards according to a FDIC Household Survey. Prepaid credit cards or debit cards can offer a descent path to credit history that can unlock other key doors. These cards are safer than cash or checks and can be used for online purchases.
  • Find new ways to analyze customers and give them access. In the United States, several companies are using artificial intelligence to create alternative and more accurate credit scoring systems. Created by former Google executives, Upstart looks at over 1,000 additional metrics to assess whether someone is likely to repay their loan. Upstart is actually more accurate than older credit scoring products and is particularly good at identifying people who might not get credit through traditional underwriting processes, but are actually very good risks. Similar systems can operate at lower levels of funding and loans, where unbanked people can operate.

To effect these kinds of changes, we will all have to put ourselves in the shoes of those watching from the outside, trying to imagine what it might be like to live a life of financial exclusion. It is now. The technology is there. The opportunity is enormous. Let’s make a big dent in financial exclusion, not in our lifetime, but in the next decade – or even sooner.

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Major European markets close roughly flat https://rglb.org/major-european-markets-close-roughly-flat/ Tue, 08 Mar 2022 17:58:31 +0000 https://rglb.org/major-european-markets-close-roughly-flat/ (RTTNews) – European stocks stabilized roughly flat on Tuesday after swinging between gains and losses most of the session. Stocks rose earlier in the day as bond yields turned positive and the euro jumped on reports that the European Union was considering a joint bond sale to fund energy and defense spending. According to reports, […]]]>

(RTTNews) – European stocks stabilized roughly flat on Tuesday after swinging between gains and losses most of the session.

Stocks rose earlier in the day as bond yields turned positive and the euro jumped on reports that the European Union was considering a joint bond sale to fund energy and defense spending.

According to reports, the European Union will this week unveil a plan to jointly issue bonds on a potentially massive scale to fund energy and defense spending.

However, concerns about inflation amid continued soaring crude oil prices and the economic impact of sanctions against Russia weighed on markets.

The pan-European Stoxx 600 index fell 0.49%. Britain’s FTSE 100 edged up 0.07%, Germany’s DAX edged down 0.02% and France’s CAC 40 ended down 0.32%, while the Swiss SMI fell 1.32 %.

Among other European markets, Belgium, Denmark, Greece, Iceland, Ireland, the Netherlands, Poland and Sweden ended lower.

Austria, Czech Republic, Finland, Norway, Portugal, Spain and Turkey closed higher.

In the UK market, M&G shares soared more than 15% as the investment manager announced a £500m share buyback programme.

Fresnillo gained nearly 9.5%. ITV gained 7.8%. BP rose 5.1% and IAG rebounded 4.3%, while Phoenix Group Holdings, Rolls-Royce Holdings, Aviva, WPP, Shell, Standard Chartered, ICP, Royal Mail, Natwest Group and Legal & General all gained 2.3 to 4%.

IWG jumped about 9%. After reporting improving annual results, the flexible workspace provider announced the merger of its digital assets with The Instant Group.

British Land shares rose after the real estate investment trust announced a new joint venture with Melbourne-based pension fund AustralianSuper.

Polymetal International fell nearly 47%. Relx, Ocado Group, RightMove, Rentokil Initial, Informa, Intertek Group, Croda International, Experian, Halma, Vodafone Group, Melrose Industries, Ferguson and Bunzl lost 3-7%.

In the German market, Symrise and Sartorius both lost around 7%. Qiagen, Siemens Healthineers, E.ON, Merck, Zalando, Deutsche Wohnen, HelloFresh, Vonovia and Porsche Automobil lost 1-5%.

Munich RE, Adidas and Allianz gained around 5.5%, 4.8% and 3.2% respectively. Continental, Deutsche Bank, Covestro, BASF, Siemens and Puma gained 1.7-3%.

In Paris, Societe Generale, Saint Gobain, Engie, BNP Paribas, Sanofi, Vinci, Veolia and Schneider Electric climbed from 3 to 5.6%. Air France-KLM, Bouygues, AXA, Essilor, Publicis Groupe, Sanofi and Crédit Agricole are also making strong progress.

Valneva SE is progressing strongly. The French biotech company said it has successfully completed the pivotal Phase III trial of its single-shot chikungunya vaccine candidate VLA1553.

Dassault Systèmes plunged more than 7%. Teleperformance, Hermès International, Faurecia, LO’real, WorldLine, Accor, LVMH, Renault and STMicroElectronics lost 2 to 6.5%.

In economic releases, the euro zone economy grew at a slower pace in the fourth quarter than initially estimated, due to lower household spending, according to revised Eurostat data.

Gross domestic product rose 0.3% sequentially, after expanding 2.3% in the third quarter. The rate is in line with the preliminary estimate published on February 15.

German industrial production rose 2.7% month on month, faster than the revised 1.1% rise seen in December, Destatis reported. Production is expected to grow at a slower pace of 0.5%.

On an annual basis, industrial production increased by 1.8%, contrary to the 2.7% decline recorded the previous month.

UK retail sales posted another strong boost in February on stronger demand for furniture and home accessories, clothing and footwear. Like-for-like sales rose 2.7% on an annual basis in February as restrictions were lifted, according to data from the British Retail Consortium and KPMG. At the same time, overall retail sales increased by 6.7%.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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Wherever they are outside of Greece, Greeks create… — Greek City Times https://rglb.org/wherever-they-are-outside-of-greece-greeks-create-greek-city-times/ Mon, 07 Mar 2022 00:30:26 +0000 https://rglb.org/wherever-they-are-outside-of-greece-greeks-create-greek-city-times/ There may not be enough ink to write the history of Greek immigrants to America. The Greeks left Greece very poor, with all the odds against them, and yet they succeeded. And wherever the Greeks are, it’s in their DNA to create, even if they start by washing the dishes. They saved money, first bought […]]]>

There may not be enough ink to write the history of Greek immigrants to America. The Greeks left Greece very poor, with all the odds against them, and yet they succeeded.

And wherever the Greeks are, it’s in their DNA to create, even if they start by washing the dishes.

They saved money, first bought houses, then opened shops and then built churches, and next to the churches they built Greek schools!

And today, they are financially and socially strong.

What exactly has happened in recent years? As America grew stronger and became a world power, did Greek Americans also grow stronger?

READ MORE: Greece to strengthen global Hellenism and ties with Greeks in the Diaspora.

Americans used to say “Never burn bridges” and Greek immigrants never forgot Greece – either by traveling frequently, or by inviting relatives to seek their fortunes in the “Promised Land”, or by sending foreign currencies.

In many homes in New York, but also in other cities and states, you see two flags flying in front – one American and one Greek!

In some cases, only one flag, and that is the one with blue and white stripes.

The flag means something, doesn’t it?

Competitive Greek Spirit

The Greeks put their fighting spirit everywhere – sometimes to retreat if they saw danger, sometimes to push forward.

Many years ago, a Greek painted the Verrazano-Narrows Bridge in New York, for several million, and in the end he left it under pressure from the mafia.

The largest chain of glaciers, named Carvel, has a Greek mastermind behind it, and it all started at the turn of the last century.

READ MORE: Tom Carvel, Greek-American businessman and founder of Carvel.

Behind the mega sportswear brand New Balance are Greeks. Many started out as employees and eventually bought the business and the entire building.

I met a Greek in New York who started as a waiter and now owns 2,000 properties, that is, a serious real estate company.

“Estiatorio Milos” has become the informal ambassador of Greece in Manhattan and America (here you meet the sure and experienced hands of manager Dimitris Z.)!

I also discovered Jimmy’s Famous Seafood restaurant in Baltimore, whose customers land at nearby helipads to enjoy flavors reminiscent of Greece.

Father and son, Denny and Dino, in Brooklyn have a successful coffeehouse chain (here you meet the safe and experienced hands of manager Doaa M.).

The Greeks also advanced not only in the “serious professions” of doctors and lawyers, but also in the corridors of politics, business, art and university education.

How did all this happen?

It is clear that the Greeks of America – who over time have acquired all the rights and won the admiration of all – had an excellent field of action to succeed.

They wanted money, they got it.

And if “The Godfather” from Coppola’s famous film told Italians that they had to go to university to learn, “our people” knew instinctively that their children had to learn.

And they have the genius to transform their labor into the education of their children. The New York Greeks also saw the Jews, who believe in power, and whoever has the education in power always wins, and “copied” them.

There is of course a small percentage of Greeks in America who have not made it.

These are the people who ran after women and casinos, and didn’t stop in time.

They are also people who believe that against the Greek “philotimo”, dollars have no value.

But in America, all that matters is money and this perception – it is wrong – strengthens the society, which constantly produces wealth, functions and gives new innovative ideas.

Voting rights of expatriates

Personally, I noticed that in London, where I lived for seventeen years, I don’t remember twisting my foot.

In New York it happened, I twisted it twice in the same week.

Why did this happen? A friend of mine, Nick Droukas, when I asked him rhetorically, replied, “In America, everyone runs, even mice run.”

The rhythms here are frenetic. The constant rush and value of time is the definition of what is called “the New York minute”.

In conclusion, there is a second Greece in America, advancing into the future and triumphing.

READ MORE: Greek Diaspora: Which cities have the largest Greek population outside of Greece?

The Greeks in Greece, when they saw their former compatriots return, after years, “well dressed and with green money in their wallets”, made various assumptions and called them “Brooklydes” (they lived in Brooklyn , where the famous mafia also lived).

The Greeks of New York and America generally have good hearts, good minds and great experience.

These elements are useful for metropolitan Greece, which has been on its knees for several years.

May the Greeks of the most powerful country in the world find serious ways to help their homeland.

The acquisition of the right to vote by the Greek diaspora – an obvious right – would be a good start, especially after the brain drain of the last years of the crisis and the ongoing pandemic.

(And the same story, “as described above”, was repeated for Greek immigrants in: Australia, Sweden, Germany, South Africa, Belgium, Canada, Brazil and so many other countries around the world.)

Dimitris Eleas is a New York-based political scientist and contributor to SLPress.

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US Army Corps of Engineers Real Estate Services Plays Key Role in US Missions in Europe | Item https://rglb.org/us-army-corps-of-engineers-real-estate-services-plays-key-role-in-us-missions-in-europe-item/ Fri, 04 Mar 2022 14:40:30 +0000 https://rglb.org/us-army-corps-of-engineers-real-estate-services-plays-key-role-in-us-missions-in-europe-item/ 1 / 3 Show legend + Hide legend – Mark Harkison, U.S. Army Corps Real Estate Field Office Manager, Europe District Italy, discusses Europe District’s real estate mission in Italy with Europe District Commander Col. Pat Dagon during the road project Recently completed Via dei Martinelli leading to a US facility in Longare, Italy October […]]]>








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Mark Harkison, U.S. Army Corps Real Estate Field Office Manager, Europe District Italy, discusses Europe District’s real estate mission in Italy with Europe District Commander Col. Pat Dagon during the road project Recently completed Via dei Martinelli leading to a US facility in Longare, Italy October 4, 2021. Recently completed road improvements were completed close to the base, requiring a great deal of real estate support and coordination. (U.S. Army photo by Chris Gardner)
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US Army Corps of Engineers, Europe District Chief of Real Estate Anne Kosel chats with Chief of Contracts Chris Tew during a guided tour of the new administration building under construction on the North Clay portion of the US Army’s Clay Kaserne in Wiesbaden, Germany May 11, 2021 The Europe District Real Estate Division manages Consignment Agreements for U.S. Army Garrisons in Europe, which are the agreements that enable the operation of enduring U.S. bases in foreign countries. (U.S. Army photo by Alfredo Barraza)
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One of the ways the U.S. Army Corps of Engineers real estate team, Europe District helps ensure the availability of housing for soldiers and their families in Europe, is through innovative build-to-lease programs like the one where the Construction, seen here Jan. 22, 2022, is underway on more than 100 homes for soldiers and their families out of post at U.S. Army Garrison Italy. Through programs like this, private builders construct off-post housing designed specifically for soldiers and their families through agreements with the military. By doing so, builders are offered certain tenant guarantees for a period of time after construction as long as the properties are properly maintained and continue to meet agreed standards. (U.S. Army photo by Mark Harkison)
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LONGARE, Italy – Last fall, the U.S. Army Corps of Engineers, U.S. Army Garrison Italy, and other partners and local community members here celebrated the completion of a new, widened Via dei Martinelli roadway in benefit of soldiers using the nearby Longare facility as well as members of the surrounding commune.

The project was overseen by the US Army Corps of Engineers, Europe District and, as a project entirely out of the nearby Longare facility, required considerable support from the European District’s real estate division and from their local real estate office in Italy.

“The Italian real estate office team secured the real estate agreement with the city and the underlying real estate agreement gave us the authority to spend money on the project and emphasized that the city was responsible for the acquiring the footprint of the project which widened the existing road,” said Mark Harkison, head of the real estate office in Italy.

District Europe’s real estate division provides direct support for projects such as the Via dei Martinelli widening effort, but their mission goes well beyond individual U.S. Army Corps of Engineers construction projects. Their team actually provides key real estate support to all US Army forces stationed and operating in the European theater.

“The Europe District Real Estate Division acquires, manages, releases and disposes of real estate interests – such as leases, licenses and international agreements – for U.S. Army Forces Europe,” said Anne Kosel, Chief of real estate division of the Europe district. “We have six real estate offices in three countries responsible for approximately 1,700 contractual requirements to support our partners in Europe.”

This includes managing real estate agreements called consignments, which are the actual agreements between host country partners and the United States that allow for long-term bases in foreign countries like Italy and Germany.

“The land we’re sitting on, the underlying landowner is the Italian Ministry of Defense and the dispatch is the document that gives control of the MoD to the US government so we can do what we need with this base,” Harkison said while on Caserma Ederle, part of the U.S. Army’s Italian garrison in the Vicenza area.

In addition to managing these consignment agreements for US Army garrisons, the European District real estate team also manages residential and commercial leases for US forces, such as housing communities for soldiers and their families or warehouses. or offices needed to support various missions.

This can range from managing the rental of property and off-post accommodations for general officers’ quarters associated with the US Army Garrison in the Benelux to acquiring space at ports and airports in Belgium, Netherlands, Germany and Italy to support the movement of American personnel. , official and personal mail, household goods and personal vehicle shipments.

Europe District’s real estate team also helps ensure the availability of housing for soldiers and their families through innovative build-to-lease schemes like the one where construction is underway on over 100 homes for soldiers and their families. out of post at the US Army Garrison. Italy. Through programs like this, private builders construct off-post housing designed specifically for soldiers and their families through agreements with the military. By doing so, builders are offered certain tenant guarantees for a period of time after construction as long as the properties are properly maintained and continue to meet agreed standards.

Popular housing for soldiers and their families in the Netzaberg community associated with the US Army Garrison in Bavaria, Germany is an example of this type of program.

“We are proud to be able to work closely with our partners at U.S. Army Garrisons and Installations Management Command to find and secure housing opportunities for our Soldiers and their families when the need arises. “, said Anne Kosel, head of real estate for the European district.

In addition to bolstering the availability of housing for soldiers and families, the Europe District Real Estate Division supports any additional land or building space the U.S. military may require throughout Europe. Most of this work is done in Germany, Belgium, the Netherlands and Italy, but can be done in other countries depending on the dynamic needs of the military and in recent years has included the acquisition and management of real estate leases for offices, other commercial spaces and housing in Romania, Bulgaria and Poland for example.

Projects like these and working across multiple international borders to meet the wide range of military real estate needs in Europe can bring unique challenges.

“It’s really quite different when you come from states where American law governs everything,” Kosel said. “Each country we operate in has different laws, customs and procedures. It is important to recognize, understand and appreciate these unique aspects in order to facilitate negotiations and reach agreement on the terms and conditions of the contract. Sometimes what works in Italy in their style, doesn’t work in Germany or Belgium and so that’s the challenge – really is to understand the uniqueness of each place, action and negotiating partner.

Kosel noted that a big key to the real estate team’s success is their local national staff cadre who bring invaluable experience to the mission while working closely with the district’s Department of Army Civilians, or DAC. . About half of Europe District’s real estate team is made up of local nationals, in contrast to about a quarter of the overall Europe District workforce which is made up of local nationals.

“We are very lucky to have our national workforce here,” Kosel said. “While DECs come and go from time to time, our local national team members stay and provide continuity, which is a key contributor to the success of our mission. They have the language skills, knowledge of international agreements , technical arrangements and procedures and relations with our counterparts in the host country.”

Kosel encouraged anyone interested in being part of the U.S. Army Corps of Engineers real estate mission to think about it, saying she finds the variety and challenges that come with the mission rewarding.

“I like the variety and challenges that geography presents, as we work in so many different countries,” Kosel said. “No two transactions are the same, no owner is the same, no country is the same. I love the challenge that variety brings.

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DVIDS – News – U.S. Army Corps of Engineers Real Estate Services Plays Key Role in U.S. Missions in Europe https://rglb.org/dvids-news-u-s-army-corps-of-engineers-real-estate-services-plays-key-role-in-u-s-missions-in-europe/ Fri, 04 Mar 2022 13:11:00 +0000 https://rglb.org/dvids-news-u-s-army-corps-of-engineers-real-estate-services-plays-key-role-in-u-s-missions-in-europe/ LONGARE, Italy – Last fall, the U.S. Army Corps of Engineers, U.S. Army Garrison Italy, and other partners and local community members here celebrated the completion of a new, widened Via dei Martinelli roadway in benefit of soldiers using the nearby Longare facility as well as members of the surrounding commune. The project was overseen […]]]>

LONGARE, Italy – Last fall, the U.S. Army Corps of Engineers, U.S. Army Garrison Italy, and other partners and local community members here celebrated the completion of a new, widened Via dei Martinelli roadway in benefit of soldiers using the nearby Longare facility as well as members of the surrounding commune.

The project was overseen by the US Army Corps of Engineers, Europe District and, as a project entirely out of the nearby Longare facility, required considerable support from the European District’s real estate division and from their local real estate office in Italy.

“The Italian real estate office team secured the real estate agreement with the city and the underlying real estate agreement gave us the authority to spend money on the project and emphasized that the city was responsible for the acquiring the footprint of the project which widened the existing road,” said Mark Harkison, head of the real estate office in Italy.

District Europe’s real estate division provides direct support for projects such as the Via dei Martinelli widening effort, but their mission goes well beyond individual U.S. Army Corps of Engineers construction projects. Their team actually provides key real estate support to all US Army forces stationed and operating in the European theater.

“The Europe District Real Estate Division acquires, manages, releases and disposes of real estate interests – such as leases, licenses and international agreements – for U.S. Army Forces Europe,” said Anne Kosel, Chief of real estate division of the Europe district. “We have six real estate offices in three countries responsible for approximately 1,700 contractual requirements to support our partners in Europe.”

This includes managing real estate agreements called consignments, which are the actual agreements between host country partners and the United States that allow for long-term bases in foreign countries like Italy and Germany.

“The land we’re sitting on, the underlying landowner is the Italian Ministry of Defense and the dispatch is the document that gives control of the MoD to the US government so we can do what we need with this base,” Harkison said while on Caserma Ederle, part of the U.S. Army’s Italian garrison in the Vicenza area.

In addition to managing these consignment agreements for US Army garrisons, the European District real estate team also manages residential and commercial leases for US forces, such as housing communities for soldiers and their families or warehouses. or offices needed to support various missions.

This can range from managing the rental of property and off-post accommodations for general officers’ quarters associated with the US Army Garrison in the Benelux to acquiring space at ports and airports in Belgium, Netherlands, Germany and Italy to support the movement of American personnel. , official and personal mail, household goods and personal vehicle shipments.

Europe District’s real estate team also helps ensure the availability of housing for soldiers and their families through innovative build-to-lease schemes like the one where construction is underway on over 100 homes for soldiers and their families. out of post at the US Army Garrison. Italy. Through programs like this, private builders construct off-post housing designed specifically for soldiers and their families through agreements with the military. By doing so, builders are offered certain tenant guarantees for a period of time after construction as long as the properties are properly maintained and continue to meet agreed standards.

Popular housing for soldiers and their families in the Netzaberg community associated with the US Army Garrison in Bavaria, Germany is an example of this type of program.

“We are proud to be able to work closely with our partners at U.S. Army Garrisons and Installations Management Command to find and secure housing opportunities for our Soldiers and their families when the need arises. “, said Anne Kosel, head of real estate for the European district.

In addition to bolstering the availability of housing for soldiers and families, the Europe District Real Estate Division supports any additional land or building space the U.S. military may require throughout Europe. Most of this work is done in Germany, Belgium, the Netherlands and Italy, but can be done in other countries depending on the dynamic needs of the military and in recent years has included the acquisition and management of real estate leases for offices, other commercial spaces and housing in Romania, Bulgaria and Poland for example.

Projects like these and working across multiple international borders to meet the wide range of military real estate needs in Europe can bring unique challenges.

“It’s really quite different when you come from states where American law governs everything,” Kosel said. “Each country we operate in has different laws, customs and procedures. It is important to recognize, understand and appreciate these unique aspects in order to facilitate negotiations and reach agreement on the terms and conditions of the contract. Sometimes what works in Italy in their style, doesn’t work in Germany or Belgium and so that’s the challenge – really is to understand the uniqueness of each place, action and negotiating partner.

Kosel noted that a big key to the real estate team’s success is their local national staff cadre who bring invaluable experience to the mission while working closely with the district’s Department of Army Civilians, or DAC. . About half of Europe District’s real estate team is made up of local nationals, in contrast to about a quarter of the overall Europe District workforce which is made up of local nationals.

“We are very lucky to have our national workforce here,” Kosel said. “While DECs come and go from time to time, our local national team members stay and provide continuity, which is a key contributor to the success of our mission. They have the language skills, knowledge of international agreements , technical arrangements and procedures and relations with our counterparts in the host country.”

Kosel encouraged anyone interested in being part of the U.S. Army Corps of Engineers real estate mission to think about it, saying she finds the variety and challenges that come with the mission rewarding.

“I like the variety and challenges that geography presents, as we work in so many different countries,” Kosel said. “No two transactions are the same, no owner is the same, no country is the same. I love the challenge that variety brings.







Date taken: 03.02.2022
Date posted: 03.04.2022 08:11
Story ID: 415579
Location: LONGARE, IL





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Activists Call for Investigation of 3 Swiss Banks in Lebanon Central Banker https://rglb.org/activists-call-for-investigation-of-3-swiss-banks-in-lebanon-central-banker/ Wed, 02 Mar 2022 12:00:53 +0000 https://rglb.org/activists-call-for-investigation-of-3-swiss-banks-in-lebanon-central-banker/ Seven activist groups have asked the Swiss financial supervisory authority, the Swiss Financial Market Supervisory Authority (FINMA), to open an investigation into the relations between three Swiss banks and the governor of the central bank of Lebanon , according to The National. Riad Salame, 71, has frequently found himself at the center of various investigations […]]]>

Seven activist groups have asked the Swiss financial supervisory authority, the Swiss Financial Market Supervisory Authority (FINMA), to open an investigation into the relations between three Swiss banks and the governor of the central bank of Lebanon , according to The National.

Riad Salame, 71, has frequently found himself at the center of various investigations into accusations of money laundering, both by Lebanon and by no less than five European countries, including the UK, Belgium and Germany . (Photo: Tachfine Oumlil, Wikimedia, License)“File of a complaint in Switzerland against Bank Audi (Switzerland), BankMed (Switzerland) and Julius Baer asking FINMA to clarify the involvement of the 3 banks in the context of the investigations for aggravated money laundering against Mr. Salamé and his entourage” , Accountability Now, a global membership platform for civil society organizations, tweeted.

Riad Salame, 71, has frequently found himself at the center of various investigations into accusations of money laundering, both by Lebanon and by no less than five European countries, including the UK, Belgium and Germany .

The latest complaint came after an international group of journalists published an investigation which exposed Credit Suisse’s shady business practices. The revelations opened up a discussion about Switzerland’s banking secrecy laws and the ethics of its banks.

The issue again brought up Salame’s alleged illicit activities. The seven activist groups from Switzerland and Lebanon have raised concerns that the three banks conspired to help the central bank governor launder misappropriated funds.

Specifically, they asked FINMA to investigate whether the banks facilitated the embezzlement of millions of dollars from the Lebanese people.

“What we are looking for is to know how and why these banks continue to provide havens for the corrupt and we think this is very important for the Lebanese but also for the reputation of Switzerland,” the lawyer said. from Accountability Now, Zina Wakim, at the local OCCRP office. media partner Daraj.

“The three banks appear to have failed in their anti-money laundering obligations by helping Mr. Salame and his entourage to secure funds that appear to be ill-gotten and derived from corruption,” Wakim added.

As the Swiss government body responsible for enforcing the country’s financial regulations, FINMA answers only to parliament and is authorized to initiate investigations, sanction banks, revoke their licenses and submit their files to the office of the attorney if necessary.

“We can confirm that we have been or are in contact with the relevant banks in the Lebanese context and that AML compliance [anti-money laundering] due diligence requirements play an important role in our supervisory activities,” FINMA spokesman Tobias Lux told The National.

Salame has been the subject of such investigations for several years now.

In August 2020, he, his assistant and his brother, Raja Salame, played central roles in OCCRP’s investigation into Lebanon’s offshore governor, which revealed how the family managed to quietly invest nearly $100 Americans in foreign real estate markets.

The governor has in the past responded to charges such as “fabrications and false news” and threatened those who report his alleged wrongdoings with the possibility of a trial.

Moreover, he resolved to obstruct the investigation by refusing to speak with the Lebanese judge Ghada Aoun. The reason why, according to The National, is that he believes her to be openly hostile towards him.

When Aoun sent officers to detain Salame for questioning a few weeks ago, he managed to slip under their radar and evade capture.

Apparently, despite the authorities’ inability to locate him, he reportedly told the Financial Times a few days later that “I’m home and at the central bank.”

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