Month: September 2022

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The 13th International Infrastructure Investment and Construction Forum Concludes in Macao with Aggregate Investment Value of US$15 billion Cooperation Agreements Signed

MACAO, Sept. 30, 2022 /PRNewswire/ — The two-day 13th International Infrastructure Investment and Construction Forum (“IIICF”, “the Forum”), co-organized by China International Contractors Association and Macao Trade and Investment Promotion Institute, successfully concluded in Macao on September 29. Forty-one events were held at this year’s Forum, attracting more than 1,300 leaders and executives from over 600 organizations including governmental agencies, financial institutions, contractors and companies on the industry chain from around the world who participated in the Forum onsite, as well as over 500,000 visitors who watched the live video stream of the Forum online.

The 13th International Infrastructure Investment Construction Forum Concludes in Macao.

As the most influential annual exhibition in the global infrastructure investment and construction sector, the Forum has achieved fruitful results in promoting international cooperation and business matchmaking. Some 210 business meetings and matchmaking activities were held during the Forum, which led to the signing of 19 cooperation agreements on housing and infrastructure projects in Hong Kong, iron ore projects in Kazakhstan, photovoltaic power plants in Argentina, and hydroelectric power plants and supporting transmission and substation projects in République démocratique du Congo, with an aggregate investment value of US$15 billion, an increase of 550 percent over last year. The exhibition area of the Forum was expanded by 20 percent compared with the previous edition, focusing on the exhibition of new technologies, products and services of the industry and leaders in related industries.

At the Forum, the Belt and Road Infrastructure Development Index (2022) and the Belt and Road Infrastructure Development Index Report (2022) were issued. The “Mechanism for International Sustainable Infrastructure Promotion” was launched, while Huawei released the “Smart Road Partner Go Global Program” and the Smart Highway White Paper, detailing Huawei’s comprehensive solutions to the international community for investment in as well as construction, operation and management of smart highways.

Fang Qiuchen, Chairman of the China International Contractors Association (CHINCA), said that the forum will further strengthen cooperation among all parties involved and expand the space for international cooperation, both of which are of great significance to the furthering of the Belt and Road initiative, the implementation global development initiatives and the facilitation of the build-out of a community of human destiny.

For more information, please visit http://en.iiicf.org/.

Photo – https://mma.prnewswire.com/media/1911840/image_5013326_30100716.jpg

 

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Madison Newbond Hotel Lending Platform Originates $20 Million Loan for the Balfour Hotel in Miami Beach

NEW YORK, Sept. 30, 2022 (GLOBE NEWSWIRE) — Madison Newbond, the institutional lending platform of Madison Realty Capital and Newbond Holdings that provides first mortgages, mezzanine loans and preferred equity to hotel owners and developers nationwide, today announced that it has provided a $20 million loan to FullG Capital’s equity sponsorship group for the acquisition of the Balfour Hotel Miami Beach (the “Balfour”), an independent boutique hotel located at 350 Ocean Drive in Miami Beach, Florida.

Located within Miami’s famed South Beach Art Deco District and situated less than one block from the beach, the Balfour contains 82 guestrooms across two towers, as well as an upscale restaurant and bar, an outdoor plunge pool, complimentary beach services, and approximately 1,300 square feet of rooftop terrace space. The hotel is managed by Driftwood Hospitality Management under a third-party hotel management agreement.

Josh Zegen, Managing Principal and Co-Founder of Madison Realty Capital, said, “Miami is no longer just a top destination for domestic and international leisure travel, but has rapidly become a growing hub for corporations and financial firms seeking to relocate their headquarters. We are pleased to provide a flexible financing solution to facilitate the acquisition of a superbly well-located hotel in one of the most liquid and dynamic hospitality markets in the country.”

Drew Coles, President of FullG Capital said, “Madison Realty Capital is a highly experienced lender in the Miami hospitality market with a reputation for certainty of execution. We are thrilled to leverage Madison Newbond’s attractive financing capabilities to complete the acquisition of the Balfour.”

Neil Luthra, Founding Partner at Newbond, added, “Madison and Newbond’s extensive operating experience enables us to efficiently underwrite hospitality lending opportunities and provide borrowers with a reliable financing partner in today’s choppy credit environment.  The Balfour perfectly exemplifies this, and we are excited to work with the FullG Capital team to bring their business plan to life.”

Madison Realty Capital has significant experience investing in hotel and luxury condominium developments in Miami and across South Florida. Notable transactions include an $85 million loan to The Related Group, BH Group, Teddy Sagi’s Globe Invest, and Wanxiang Group Corporation for the acquisition and pre-development of a luxury condominium project on Fisher Island in Miami Beach, a $76 million loan to The Related Group for the development of District 225, a 343-unit luxury condominium project in Miami, a $210 million loan to Fort Partners for the construction of the Four Seasons Hotel and Private Residences Fort Lauderdale, and a $105 million loan to Fort Partners for the acquisition and modernization of the Four Seasons Hotel Miami.

Madison Newbond launched in November 2021 with approximately $500 million of initial lending capacity and has plans to add scale in line with existing opportunities.

 

About Madison Realty Capital 

Madison Realty Capital is a vertically integrated real estate private equity firm that, as of August 31, 2022, manages approximately $9.5 billion in total assets on behalf of a global institutional investor base. Since 2004, Madison Realty Capital has completed approximately $21 billion in transactions providing borrowers with flexible and highly customized financing solutions, strong underwriting capabilities, and certainty of execution. Headquartered in New York City, with an office in Los Angeles, the firm has approximately 70 employees across all real estate investment, development, and property management disciplines. Madison Realty Capital has been named to Commercial Observer’s prestigious “Power 100” list of New York City real estate players. To learn more, follow us on LinkedIn and visit www.madisonrealtycapital.com.

About Newbond Holdings

Newbond Holdings, founded by Neil Luthra and Vann Avedisian in 2021, is a real estate investment and operating platform focused on debt and equity investments across multiple real estate product types with a hospitality focus as well as investments in related operating businesses and technology platforms. The partners at Newbond have completed over $15 billion of debt and equity transactions. As a vertically integrated operating and investment platform, Newbond is uniquely positioned to create significant value beyond the typical investment process through creative structuring, operations and the development of single and multiple asset brands.

Nathaniel Garnick/Grace Cartwright
Gasthalter & Co.
(212) 257-4170
madisonrealty@gasthalter.com
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ECC approves Dealer Transfer Price of 50 kg imported Urea at Rs2150 per bag

The ECC  has approved Dealer Transfer Price of 50 kg imported Urea bag at 2150 rupees per bag and incidental charges at  620.47 rupees per bag  with sharing subsidy on imported Urea at 50:50 basis with provinces.  

In its meeting held in Islamabad on Friday with Finance Minister Ishaq Dar in the chair, the ECC granted extension in the validity period of the eighteen exploration licenses.

The ECC also approved tariff rationalization by way of adjustments for K-Electric to maintain the uniform tariff across the country at 0.5087 rupees per unit.

The ECC approved summary for Ministry of Commerce and allowed release of consignments of previously banned items for which Goods Declaration have been filed on or after 22 of last month.

Source: Radio Pakistan

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Pakistan rapidly moving towards harnessing renewable energy sources: Shehbaz Sharif

Prime Minister Shehbaz Sharif says Pakistan wants Japanese investment in solar energy, clean drinking water, wastewater and logistics sectors.

He was talking to a delegation of Japanese companies in Pakistan led by Parliamentary Deputy Minister for Economy, Trade and Industry of Japan Satomi Ryuji who called on him in Islamabad on Friday.

The Prime Minister said Pakistan is rapidly moving towards harnessing renewable energy sources like solar, wind and hydel, as the huge foreign exchange spent on importing oil, gas and other expensive fuels is an unbearable burden on our economy.

He said Pakistan is starting a project to generate 10,000 megawatts of electricity from solar energy on an emergency basis. For this purpose, the government has not only prepared an effective investment plan, but a pre-bid conference of all stakeholders has also been organized.

In addition, the Prime Minister thanked the government and people of Japan for their sympathy and financial assistance of 7 million dollars for the devastation and loss of precious lives caused by the recent historic floods in Pakistan.

On this occasion, the Prime Minister also issued orders to form a committee of officials of all relevant institutions to solve the problems of Japanese companies doing business in Pakistan on a priority basis.

Source: Radio Pakistan

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Pakistan committed to deepen relations with UAE: PM

Prime Minister Shehbaz Sharif has said Pakistan is committed to further deepen its relations with the United Arab Emirates in all areas of common interest.

He was talking to the Ambassador of the United Arab Emirates Hamad Obaid Ibrahim Salem Al-Zaabi who called on him in Islamabad on Friday.

The Prime Minister reaffirmed the importance Pakistan attached to its fraternal relations with the UAE and extended best wishes for the continued progress and prosperity of the brotherly people of the UAE.

The Prime Minister highlighted the extensive devastation caused by the recent floods across Pakistan and the response of the Government to address the dire situation.

In this regard, the Prime Minister expressed gratitude for the relief assistance provided by the UAE for the flood-stricken people and for establishing an air corridor to provide humanitarian assistance.

Pakistan and the UAE enjoy close fraternal ties for five decades that are rooted firmly in common belief and shared values and culture. The UAE is Pakistan’s largest trading partner in the Middle East and a major source of investments.

Source: Radio Pakistan

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Chairman Senate calls for deepening economic, trade linkages between Pakistan, Kyrgyzstan for mutual benefit

Chairman Senate Muhammad Sadiq Sanjrani has called for further deepening economic and trade linkages between Pakistan and Kyrgyzstan for mutual benefit of the people of two sides.

He was talking to the Ambassador of Ulanbek Totuiaev who called on him in Islamabad on Friday.

He said that Pakistan via Gwadar port provides shortest access to the landlocked central Asian Republics.

The Chairman Senate highlighted the importance of strong multifaceted ties with Kyrgyzstan and said that huge investment opportunities exist in Pakistan.

He underlined the need for frequent exchange of delegations to promote people to people contacts.

Chairman Senate said the government and people of Pakistan highly value ties with Kyrgyzstan and desire to further expand and diversify the linkages in different sectors.

Ambassador of Kyrgyzstan expressed solidarity with people and Government of Pakistan on the loss of life due to recent floods. He assured of all possible support in these testing times.

Source: Radio Pakistan