Core Insights - SIA Merko mājas has launched the third stage of the Mežpilsēta residential project in Riga, featuring a six-storey building with 53 apartments set for completion by the end of 2026 [1][4] - The residential building will have an energy class A rating, with apartment sizes ranging from 44 to 87 square meters and prices per square meter between 2,567 and 2,975 euros [1][2] Project Details - The Mežpilsēta development is located in a green area next to a forest, providing a bright and comfortable living environment with features such as balconies, floor-to-ceiling windows, and heated floors [2][3] - The project will include 44 outdoor parking spaces, with 13 covered spaces and four equipped with electric charging options, along with shared amenities like a community lounge and children's playground [3][4] Development Overview - Hipokrāta St. 16 will be the fifth building in the Mežpilsēta project, which plans a total of 11 buildings and 535 apartments, with four buildings already completed [4] - SIA Merko mājas manages all phases of development, ensuring quality and convenience for home buyers [4]

Summary of the Conference Call on China's Property Market Industry Overview - The report focuses on the Chinese property market, specifically analyzing the primary market prices across 70 cities as reported by the National Bureau of Statistics (NBS) [1][2]. Key Findings - The weighted average property price in the primary market fell by **1.8% month-over-month (mom) annualized** in August, following a decline of **2.1% in July** [8]. - Year-on-year (yoy), the average property price decreased by **2.4% in August**, compared to a **2.7% decline in July** [2][8]. - Primary home prices in **Tier-1 cities** remained stable, while **Tier-2 and Tier-3 cities** continued to experience price declines of **2.0% and 2.3% mom annualized**, respectively [8][13]. Market Dynamics - The data indicates that the number of cities with sequentially higher property prices in the primary market increased in August, suggesting some stabilization in certain areas [8][14]. - Secondary market data indicates price declines of **5%-20%** over the past year, highlighting a significant disparity between primary and secondary market performance [8]. Regional Insights - In August, Tier-1 cities saw a **0.1% decrease** in property prices, while Tier-2 and Tier-3 cities faced more substantial declines [8]. - The report emphasizes that lower-tier cities are facing stronger headwinds due to weaker growth fundamentals and oversupply issues compared to top-tier cities [8]. Transaction Volume and Inventory - The **30-city new home transaction volume** increased by **3% year-on-year** in September month-to-date, benefiting from a low base in the previous year [11]. - Inventory months in major cities slightly decreased to **25.7 in August** from **26.5 in July**, primarily driven by Tier-3 cities [11]. Policy Implications - Policymakers have aimed to stabilize the property market since the policy pivot in September of the previous year, with incremental easing measures expected to help contain risks in the property sector [11]. - Recent announcements to relax home purchase restrictions in Tier-1 cities, including **Beijing, Shanghai, and Shenzhen**, are part of these efforts [11]. Conclusion - The Chinese property market is showing signs of stabilization in primary markets, particularly in Tier-1 cities, while lower-tier cities continue to struggle with price declines and oversupply issues. The ongoing policy measures are aimed at providing support to the market, but challenges remain significant [8][11].

Core Insights - The recent policy changes in Shenzhen have significantly lowered the barriers for non-local residents to purchase property, enhancing their willingness to invest in the Shenzhen real estate market [4][5][6] Group 1: Policy Impact - The new real estate policy introduced on September 5 focuses on optimizing purchase restrictions and unifying loan interest rates for first and second homes, which has positively influenced external residents' confidence in buying property in Shenzhen [4][5] - The event featured a dedicated area for policy interpretation and financial services, providing a one-stop consultation for non-local residents regarding home buying and loan processing [4][5] Group 2: Event Highlights - The "Vibrant Shenzhen, Livable Future" property exhibition showcased 58 quality projects from 18 major real estate companies, including China Resources Land and China Overseas Land & Investment, highlighting Shenzhen's residential quality and development standards [5][6] - The event attracted over 10,000 visitors, with 3,347 registering their interest and 376 groups expressing intent to purchase, indicating strong market engagement [3][5] Group 3: Project Features - Projects from the Luohu and Longhua districts gained significant attention due to their advantageous locations and comprehensive facilities, appealing to high-net-worth individuals from Northeast China [6] - The exhibition included diverse property types such as high-end residences, business apartments, and vacation properties, catering to various investment and lifestyle needs [5][6] Group 4: Digital Engagement - The event integrated modern technology with traditional cultural elements, featuring live streaming and online policy discussions, which attracted over 120,000 viewers and increased the visibility of Shenzhen's real estate projects [9] - Shenzhen plans to enhance its digital platforms to support a comprehensive, one-stop service for prospective buyers, covering all aspects from viewing to financing [9]

Core Viewpoint - AMREP Corporation (AXR) experienced a notable increase in stock price following its earnings report, outperforming the S&P 500 Index during the same period [1] Financial Performance Overview - For Q1 of fiscal 2026, AMREP reported revenues of $17.9 million, a decrease of 6.5% from $19.1 million in the same quarter last year [2] - Net income increased by 15.5% year over year to $4.7 million from $4.1 million, indicating improved profitability [2] - Diluted earnings per share rose 14.5% to $0.87 from $0.76 a year ago [2] Segmental Performance - Home sale revenues increased by 6.4% year over year to $9.6 million, driven by higher unit sales and pricing mix [3] - Land sale revenues fell by 19.8% year over year to $7.5 million due to lower volumes of developed residential lots sold [3][4] - Other revenues, including landscaping and miscellaneous services, grew by 4.9% year over year to $0.8 million [3] Land Development Dynamics - Revenues from land development decreased by 19.8% to $7.5 million, primarily due to fewer acres of developed residential land sold [4] - The segment's gross margins improved significantly to 69% from 48%, aided by reimbursements for infrastructure costs and favorable lot demand [4] Homebuilding Dynamics - Homebuilding revenues rose by 6.4% to $9.6 million, supported by the sale of 22 homes compared to 21 in the previous year [6] - The average selling price of homes increased by 1.4% to $434,000 from $428,000 [6] - Gross margins improved to 25% from 19% a year earlier, despite rising labor and material costs [6] Key Business Metrics - Operating income increased by 23.1% to $6.1 million from $4.9 million in the prior-year quarter [8] - Net interest income rose by 62.3% to $456,000 from $281,000, benefiting from higher interest rates [8] - General and administrative expenses increased by 13.2% to $1.8 million from $1.6 million [8] Liquidity and Inventory - AMREP ended the quarter with $49.4 million in cash and equivalents, up from $39.9 million [9] - Real estate inventory decreased to $64.8 million from $66.8 million, while investment assets rose to $15.9 million from $14.9 million [9] - The company leased 27 homes to tenants, up from 21 at the end of April, reflecting a strategy to balance sales with rental opportunities [9] Management Commentary - Management indicated that revenue performance can vary significantly based on transaction timing and property type [10] - The results highlighted how shifts in product mix and customer demand influenced gross margins across land and home sales [10] Factors Influencing Performance - The revenue decline was primarily due to reduced land sales, particularly fewer developed residential lots [11] - Profitability expanded as land sales carried significantly higher gross margins compared to the previous year [11] Guidance and Future Outlook - AMREP did not provide formal quantitative guidance but noted a backlog of 24 homes under contract, representing approximately $11.5 million in expected revenues [12] - Management emphasized that past results may not predict future outcomes due to variability in land and home sales [12] Recent Developments - In August 2025, AMREP Southwest Inc. amended its revolving line of credit, increasing the maximum borrowing capacity by $750,000 to $6.5 million [13] - The maturity of the credit facility was extended to August 15, 2028, enhancing financial flexibility for operations [13]

Core Insights - The "Vibrant Shenzhen · Livable Future" national tour event showcased Shenzhen's real estate market, attracting over 10,000 attendees and generating significant interest in housing options [1][3][8] - The event highlighted recent policy optimizations in Shenzhen's real estate sector, including relaxed purchase restrictions and unified mortgage rates, aimed at enhancing housing accessibility for non-local residents [3][11] Group 1: Event Overview - The event took place from September 12 to 15 in multiple cities, including Harbin, Shenyang, and Changchun, under the guidance of Shenzhen's housing authorities [1] - A total of 3,347 attendees registered their interest, with 376 groups expressing intent to purchase real estate [1][3] Group 2: Policy Implications - The event featured a dedicated area for policy interpretation, focusing on the latest real estate regulations, including optimized purchase policies for residents and businesses [3][11] - Key policy changes include the cancellation of purchase restrictions in Yantian and Dapeng districts, allowing non-local residents to buy properties freely [10][11] Group 3: Featured Projects - The event showcased 58 quality projects from 18 major real estate companies, including China Resources Land and China Overseas Land, covering various property types such as high-end residences and vacation properties [5][6] - Notable projects like Wangchen Mansion and Pengrui Banshan Yunjing attracted significant attention due to their unique mountain-sea resources and development potential [6] Group 4: Engagement and Marketing Strategies - The event integrated cultural elements and modern technology, featuring performances and VR experiences to enhance visitor engagement [8] - Online streaming and interactive sessions reached over 120,000 viewers, significantly boosting the visibility of Shenzhen's real estate offerings [8]

成都实拍图 如果当前改善置业，只有500万级预算，又想在成都5+2区域上车新房，还有哪些选择呢？机会还多吗？ 来自克而瑞四川的数据显示，8月，成都共有11个板块的新房成交均价突破3万元/㎡。三圣乡、麓湖、大源、万年场、茶店子等板块均站稳3万+，前 TOP10的板块几乎覆盖了整个5+2区域，中心城区的价值洼地已被抹平。 9月第一周，成都两个千万级豪宅取得预售，单价均超6万。除了高单价之外，这些新项目也呈现出大面积、高总价的特征……但对于普通人来说，千万 +产品与生活并无关联，注定只是少数人的选择。 尤其是下半年的新增供应，更是以高总价为主，这反而凸显了存量项目的优势。如果不是执念于新规产品，放下"既要地段、产品，又要控制总价、单 价"的心理，对自己的需求进行排序，优先满足最重要的需求，那么在成都，500万级的选择还是不少。 发哥梳理了现有500万级在售及即将预售项目，供应大头仍然在成华区，供应最少的则是锦江区、武侯区和金牛区，面积往往集中在140-180㎡之间，部分 为新规产品。 成华区 从数量上来看，成华区依然是供应主力，500万级房源供应较多，且不少还是新规产品，销售态势较好。 以华润置地开发的天宸上院为例 ...

Core Viewpoint - Lead Real Estate Co., Ltd has announced a dividend distribution of 10 JPY (approximately $0.07) per American Depository Receipt (ADR), subject to shareholder approval on September 29, 2025, with distribution planned for September 30, 2025 [1][2]. Company Overview - Lead Real Estate Co., Ltd is a Japanese developer specializing in luxury residential properties, including single-family homes and condominiums, primarily located in Tokyo, Kanagawa Prefecture, and Sapporo [3][4]. - The company also operates hotels in Tokyo and leases apartment units in Japan and Dallas, Texas [3]. Financial Information - The total dividend distribution amounts to approximately $923,810 (around 139,419,000 JPY) [2]. - The previous cash dividend was $0.02 per share, distributed on September 30, 2024 [2]. Management Statement - Chief Executive Eiji Nagahara expressed satisfaction in rewarding shareholders for their support and indicated anticipation for further positive developments in the future [3]. Company Mission and Vision - The company's mission focuses on providing stylish, safe, and luxurious living environments [4]. - The vision includes adopting a Kaizen (continuous improvement) approach to enhance operations and leverage its strong market position in the luxury residential sector [4].

Core Viewpoint - The announcement of land auction in Yuhong District, Shenyang, indicates a significant opportunity for real estate development in the area, particularly with the upcoming sale of the Zhengliang 4th Road plot, which is expected to enhance the attractiveness of the region [1][5]. Group 1: Land Auction Details - The land auction is scheduled from October 9, 2025, to October 21, 2025, at 14:00 [3]. - The starting price for the 18,000 square meter plot is set at 2,250 yuan per square meter [5]. - The plot is classified as Class II residential land (R2) with a maximum floor area ratio of 1.6 and a commercial ratio of 3-5% [5]. Group 2: Regional Development Insights - The Zhengliang 4th Road plot is strategically located at the intersection of Yuhong District, Huanggu District, and Shenbei District, making it a prime area for residential development [7]. - The surrounding areas have seen significant residential development, with high occupancy rates in projects such as Vanke Jinyu Huafu and Poly Xihu Linyu [7]. - The population in the region has been increasing, and there remains a substantial amount of land available for future development, which could lead to a continuous expansion of the residential market in the area [6][7].

Core Insights - International Land Alliance, Inc. has introduced BOXABL tiny homes at its Cabo Oasis development, enhancing its product offerings in a 500-acre beachfront community [1][5] - The BOXABL Casita, a Tesla-powered model, is priced around $100,000 or available for lease under $1,000 per month, targeting vacation, second, or retirement residences [2][3] - BOXABL aims to address housing challenges with its modular building system, which allows for rapid deployment and high-quality living spaces [3][4] Company Overview - International Land Alliance, Inc. focuses on acquiring and developing real estate in Northern Baja California and Southern California, emphasizing sustainable housing solutions [6][8] - The company is committed to innovative design and technology, aiming to create environmentally friendly communities for various buyer segments [6][8] Product Features - The BOXABL Casita is a 361 square foot studio unit that unfolds on-site in less than an hour, featuring a full kitchen, bathroom, and utilities [3] - The homes are designed with integrated solar roof panels and Tesla Powerwall batteries, ensuring energy independence and off-grid capability [7] - Smart home integration allows for full automation of lighting, climate, and security controls, while energy-efficient systems aim to eliminate traditional utility costs [7] Development Plans - Cabo Oasis will include diverse residential options, such as condominiums and private estates, alongside the new tiny home offerings [4] - The company is also developing stackable and connectable models to create multifamily units or larger single-family homes [3]

Group 1 - Five Point Holdings, LLC plans to offer $450.0 million in senior notes due 2030, subject to market and other conditions [1] - The notes will be guaranteed jointly and severally by Five Point Operating Company, LP and Five Point Capital Corp., a wholly owned subsidiary of the issuer [1]