A first for commercial real estate occurs, proptech sees a significant increase in venture capital funding, the Victorian government shuts down all construction sites after protests turn violent, and more.
- In a move that is a first for commercial real estate, Magnum Real Estate Group announced the sale of a three-story retail condo space, and that the company would be accepting Bitcoin (BTC) as payments for the property. (EconoTimes)
- As the Justice Department investigates home sale commissions and civil lawsuits challenging longstanding industry practices are upheld, residential real-estate agents prepare to defend their commissions. (John D. McKinnon, The Wall Street Journal)
- Real estate companies are increasingly using artificial intelligence in everyday business practices, which has drastically accelerated all aspects of buying, selling, and home financing. (Diana Olick, CNBC)
- In response to protestors turning violent after challenging the mandate requiring all construction workers to have at least one COVID-19 vaccine, the Victorian government will shut down all construction sites in metropolitan Melbourne and all other locked-down local government areas. (ABC News)
- After President Biden issued plans to mandate vaccines in workplaces with more than 100 employees (or conduct weekly testing), construction professionals and companies question how the mandate will affect their workplace. (Sebastian Obando, Construction Dive)
- After years of selling real estate projects before their completion, China Evergrande Group is facing collapse following Beijing’s efforts to control debt, bringing their projects to a halt. (Xie Yu and Elaine Yu, The Wall Street Journal)
- A recent report published by JLL Spark in conjunction with the MIT Tech Tracker highlights how venture capital funding for proptech has surpassed $9 billion in the first six months of 2021. (Amy Dobson, Forbes)