Welcome to our 《Real Estate Briefing》 program! Today, we dive into the intriguing world of Australian superannuation funds, which are making headlines for investing in international property projects. While they’re pouring money into developments like the Canada Water project in London, back home, Australia is grappling with a housing crisis that demands 1.2 million new homes in just five years. Critics are questioning why these funds are focusing overseas instead of addressing local needs, urging the government to make planning processes more attractive for domestic investment.
In other news, Donald Trump has made a significant appointment by selecting Charles Kushner, the father of his son-in-law Jared Kushner, as the next US ambassador to France. With a rich background in real estate and philanthropy, Charles has been recognized for his contributions and is set to bring his extensive experience to the French capital. His previous legal troubles and subsequent pardon by Trump add an interesting twist to this appointment, making it a story to watch as it develops.
Lastly, the political scene in Ireland is heating up as vote counting is underway following a general election. Exit polls reveal a nail-biting three-way race, with Sinn Fein slightly leading the pack. As the nation waits for the final results, which may take days due to the proportional representation system, the focus remains on key issues such as housing, cost of living, and immigration. Will Sinn Fein’s Mary Lou McDonald manage to shake up the long-standing dominance of the centre-right parties? Stay tuned as we keep you updated on these unfolding stories. Please continue watching for more detailed content!
Australian Broadcasting Corporation reports that Australian superannuation funds are significantly investing in overseas property projects, such as the ambitious Canada Water development in London, which aims to provide 3,000 net-zero homes and various commercial spaces. This investment comes at a time when Australia is grappling with a severe housing crisis, needing to construct 1.2 million homes within five years to meet demand. Despite the superannuation industry being worth approximately $3.9 trillion, only a small fraction is allocated to the local property market, leading to questions about why funds are directed abroad when similar investments could potentially alleviate local housing shortages.
CNN highlights Donald Trump’s appointment of Charles Kushner, father of his son-in-law Jared Kushner, as the next US ambassador to France. Trump praised Kushner’s extensive experience in the real estate sector, noting his success as the founder and chairman of Kushner Companies, and his previous accolades, including being named New Jersey Entrepreneur of the Year. Despite his past legal troubles, including a prison sentence for federal charges, Kushner’s selection reflects Trump’s continued ties to his family and business interests as he shapes his administration.
Al Jazeera covers the ongoing vote counting in Ireland’s general elections, with an exit poll indicating a competitive three-way race among major parties, particularly highlighting Sinn Fein’s narrow lead. As the counting progresses, the proportional representation system means results may take days to finalize. The election campaign was dominated by pressing issues like housing and the cost of living, with Sinn Fein positioning itself as the viable alternative to the long-standing coalition of Fine Gael and Fianna Fail. Despite challenges, Sinn Fein’s focus on housing may resonate with voters seeking change in a political landscape that has seen the same parties in power since Ireland’s independence.
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