1. Ethiopia: Developers plan hotel expansion
First Group Hospitality, a Dubai-based asset management firm, has signed a master development agreement with Addis Ababa-based MIDROC Investment Group to operate 10 hotels across Ethiopia. The hotels are planned not only in the capital city of Addis Ababa, but also in such destinations as Bahir Dar, Hawassa, Jimma and Langano.
A First Group Hospitality statement said the move is part of its strategy to expand its third-party management system, with this deal marking its entry into Africa. The 10 hotels are planned to include a total of 1,140 rooms and will be developed in “key urban and gateway destinations” throughout Ethiopa, the statement said. Phased openings will begin later this year and run through 2031.
2. UK: JLL picks location for London West End office hub
Global real estate services firm JLL has selected the site for a planned relocation of its London West End operations, after a review of options that began last fall as it consolidates some offices in the region.
According to sources, JLL will take a space spanning about 14,000 square feet at 1 Newman Street in Fitzrovia, a mixed-use office and retail block recently acquired by Royal London Asset Management. The West End relocation complements JLL’s planned move later this year to around 90,000 square feet in a new flagship office at 1 Broadgate in the City of London, the central business district.
3. France: Property investment drops in first quarter
French commercial property investment got off to a slow start in 2026, with the first quarter’s €1.9 billion in deal volume declining 48% from a year earlier, according to data firm ImmoStat.
No property category has been spared, CBRE France reported, though the Île-de-France office market and the general retail category have weathered the decline better than others, with steeper declines posted for most regional industrial and office markets. While the market appeared to have begun a recovery at the end of 2025 that analysts expected to continue into 2026, confidence was halted by the start of the war in Iran on Feb. 28.
4. Germany: Largest cities post flat commercial deal volume
Germany’s seven largest commercial real estate markets posted a total of about €2.12 billion in investment during the first quarter, roughly on par with the year-earlier level, according to figures from broker network GPP.
Some big-ticket sales in Düsseldorf resulted in an annual increase of more than 100%, reaching €465 million in the first quarter, with a similar trend in Frankfurt, where investment totaled about €246 million. But GPP reported notable declines for Berlin, Munich, Hamburg, Cologne and Stuttgart.
5. Canada: W.P. Carey buys 14 auto dealerships
Real estate investment trust W.P. Carey bought 14 automotive dealership properties across Western Canada and is leasing back the properties, expanding its presence in single‑tenant commercial real estate tied to major operating businesses. Go Auto, among Canada’s largest dealership networks, sold the properties for $287 million or about $206 million in U.S. dollars.
The deal includes more than 570,000 square feet of dealership space in greater Vancouver, Calgary, Edmonton and Winnipeg. The properties will be leased on a triple-net basis to Go Auto, the second‑largest automotive dealership group in Canada, with the tenant paying rent as well as property taxes, insurance and maintenance costs.
6. US: California cities struggle to plan for enough housing
Los Angeles is running out of time to turn its housing promises into reality, with permits lagging and projects being stalled by financing hurdles before they can break ground. Under California’s current residential requirements, mainly involving apartments, the city is on the hook to plan for 456,643 units by 2029, but as of late 2025 was only about 17.8% of the way toward its goal, according to the latest city permitting data.
The challenge facing Los Angeles reflects a broader issue across California, where the state mandate known as the Regional Housing Needs Allocation requires cities to plan for a set number of residential units at all income levels. Come 2029, cities that have not planned for enough housing per the mandate are susceptible to lawsuits and penalties as well as losing zoning and permitting control over projects.
This report was compiled from CoStar’s news publications in the United States, United Kingdom, Canada, France and Germany.