1. Singapore: Raffles hotel brand opens first new location since 1887
Singapore now has two Raffles hotels since the debut of its first in 1887, as parent firm Accor expands the brand’s profile in the region with an emphasis on locally focused luxury service offerings. The latest opened on the resort island of Sentosa.
Regional general manager Cavaliere Giovanni Viterale said the Raffles brand’s latest development reflects a broader shift in the hospitality industry toward locally grounded, sustainability-focused offerings catering to affluent travelers. Raffles has been an Accor hotel brand since the French firm acquired FRHI Holdings in 2016 for $2.9 billion. The deal also included brands Fairmont Hotels & Resorts, along with Swissôtel.
2. UK: Defense spending hike could boost industrial demand
Analysts said plans by Chancellor Rachel Reeves to make the United Kingdom “a defense industrial superpower” could raise demand for warehouses and related real estate in coming years. Among other planned projects, Defense Secretary John Healey has proposed building at least six munitions factories across the country.
CoStar News spoke with warehouse specialists in the United Kingdom and mainland Europe to assess how the industrial and logistics sector could benefit from a planned £11 billion annual boost in defense outlays, the largest increase since the end of the Cold War. Tim Crighton, a regional industrial executive at brokerage Cushman & Wakefield, said the ongoing conflict in Europe and challenges in the Middle East have created a “heightened awareness” of the defense sector in the warehousing industry.
3. France: Blackstone ramps up regional investments
Global investment giant Blackstone is poised to further increase its real estate holdings in France after beating out several other bidders for a pending €705 million acquisition of the prominent Paris Trocadéro business center, according to regional analysts.
According to the Fund Manager Survey 2025 published by data providers Anrev, Inrev and NCREIF, Europe’s largest property manager has already made a splash in recent months with a number of acquisitions, including the Mandarin Oriental boutiques for €148 million. It also acquired an 80% stake in investment firm Burstone’s European logistics portfolio, which includes 10 properties in France.
4. Germany: Office vacancy rises in largest cities
Office vacancy in Germany’s seven largest cities increased by a combined 28% in this year’s first half compared with a year earlier amid subdued tenant demand, according to broker network GPP.
On an individual city basis, the rise based on square meters remaining vacant was most pronounced in Berlin, where the figure increased 42% to 1.75 million square meters. The year-over-year increase was 33% in Cologne and 30% in Düsseldorf. Vacancy rose even as prime rents remained largely at the previous year’s level or increased slightly in most cities.
5. Canada: Manufacturers pump brakes on EV parts production
Canada’s aim of becoming a global leader in electric vehicle parts production has proven unexpectedly difficult as progress on factories near Toronto and Montreal has stalled, leaving the projects’ futures in doubt during a trade dispute with the United States, the primary market for Canada’s auto industry.
A $100 billion electric vehicle production initiative faces uncertainty after manufacturers delayed or canceled factory construction plans on projects announced between 2021 and 2024 that involve $46 billion in private investments and more than $52 billion in commitments from federal and provincial governments. Honda halted a planned $15 billion EV project in Alliston, Ontario, and financial challenges facing battery maker Northvolt have cast doubt on that firm’s plans for a manufacturing plant in McMasterville, Quebec.
6. US: Los Angeles tower reflects latest national approach to fight homelessness
In the Skid Row area of downtown Los Angeles, a new 17-story tower designed to house hundreds of homeless people is opening, partially marking a record local push to find that population permanent housing. It’s also joining cities across the country in stepping up similar investments aimed at economic stability.
The 302-unit high-rise, called 600 San Pedro, is the city’s largest — and one of the nation's biggest — permanent developments combining affordable apartments with onsite services to support residents transitioning out of homelessness, according to city officials.
This report was compiled from CoStar’s news publications in the United States, United Kingdom, Canada, France and Germany.