Day: September 30, 2022

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The 13th International Infrastructure Investment and Construction Forum Concludes in Macao with Aggregate Investment Value of US$15 billion Cooperation Agreements Signed

MACAO, Sept. 30, 2022 /PRNewswire/ — The two-day 13th International Infrastructure Investment and Construction Forum (“IIICF”, “the Forum”), co-organized by China International Contractors Association and Macao Trade and Investment Promotion Institute, successfully concluded in Macao on September 29. Forty-one events were held at this year’s Forum, attracting more than 1,300 leaders and executives from over 600 organizations including governmental agencies, financial institutions, contractors and companies on the industry chain from around the world who participated in the Forum onsite, as well as over 500,000 visitors who watched the live video stream of the Forum online.

As the most influential annual exhibition in the global infrastructure investment and construction sector, the Forum has achieved fruitful results in promoting international cooperation and business matchmaking. Some 210 business meetings and matchmaking activities were held during the Forum, which led to the signing of 19 cooperation agreements on housing and infrastructure projects in Hong Kong, iron ore projects in Kazakhstan, photovoltaic power plants in Argentina, and hydroelectric power plants and supporting transmission and substation projects in République démocratique du Congo, with an aggregate investment value of US$15 billion, an increase of 550 percent over last year. The exhibition area of the Forum was expanded by 20 percent compared with the previous edition, focusing on the exhibition of new technologies, products and services of the industry and leaders in related industries.

At the Forum, the Belt and Road Infrastructure Development Index (2022) and the Belt and Road Infrastructure Development Index Report (2022) were issued. The “Mechanism for International Sustainable Infrastructure Promotion” was launched, while Huawei released the “Smart Road Partner Go Global Program” and the Smart Highway White Paper, detailing Huawei’s comprehensive solutions to the international community for investment in as well as construction, operation and management of smart highways.

Fang Qiuchen, Chairman of the China International Contractors Association (CHINCA), said that the forum will further strengthen cooperation among all parties involved and expand the space for international cooperation, both of which are of great significance to the furthering of the Belt and Road initiative, the implementation global development initiatives and the facilitation of the build-out of a community of human destiny.

For more information, please visit http://en.iiicf.org/.

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Madison Newbond Hotel Lending Platform Originates $20 Million Loan for the Balfour Hotel in Miami Beach

NEW YORK, Sept. 30, 2022 (GLOBE NEWSWIRE) — Madison Newbond, the institutional lending platform of Madison Realty Capital and Newbond Holdings that provides first mortgages, mezzanine loans and preferred equity to hotel owners and developers nationwide, today announced that it has provided a $20 million loan to FullG Capital’s equity sponsorship group for the acquisition of the Balfour Hotel Miami Beach (the “Balfour”), an independent boutique hotel located at 350 Ocean Drive in Miami Beach, Florida.

Located within Miami’s famed South Beach Art Deco District and situated less than one block from the beach, the Balfour contains 82 guestrooms across two towers, as well as an upscale restaurant and bar, an outdoor plunge pool, complimentary beach services, and approximately 1,300 square feet of rooftop terrace space. The hotel is managed by Driftwood Hospitality Management under a third-party hotel management agreement.

Josh Zegen, Managing Principal and Co-Founder of Madison Realty Capital, said, “Miami is no longer just a top destination for domestic and international leisure travel, but has rapidly become a growing hub for corporations and financial firms seeking to relocate their headquarters. We are pleased to provide a flexible financing solution to facilitate the acquisition of a superbly well-located hotel in one of the most liquid and dynamic hospitality markets in the country.”

Drew Coles, President of FullG Capital said, “Madison Realty Capital is a highly experienced lender in the Miami hospitality market with a reputation for certainty of execution. We are thrilled to leverage Madison Newbond’s attractive financing capabilities to complete the acquisition of the Balfour.”

Neil Luthra, Founding Partner at Newbond, added, “Madison and Newbond’s extensive operating experience enables us to efficiently underwrite hospitality lending opportunities and provide borrowers with a reliable financing partner in today’s choppy credit environment.  The Balfour perfectly exemplifies this, and we are excited to work with the FullG Capital team to bring their business plan to life.”

Madison Realty Capital has significant experience investing in hotel and luxury condominium developments in Miami and across South Florida. Notable transactions include an $85 million loan to The Related Group, BH Group, Teddy Sagi’s Globe Invest, and Wanxiang Group Corporation for the acquisition and pre-development of a luxury condominium project on Fisher Island in Miami Beach, a $76 million loan to The Related Group for the development of District 225, a 343-unit luxury condominium project in Miami, a $210 million loan to Fort Partners for the construction of the Four Seasons Hotel and Private Residences Fort Lauderdale, and a $105 million loan to Fort Partners for the acquisition and modernization of the Four Seasons Hotel Miami.

Madison Newbond launched in November 2021 with approximately $500 million of initial lending capacity and has plans to add scale in line with existing opportunities.

 

About Madison Realty Capital 

Madison Realty Capital is a vertically integrated real estate private equity firm that, as of August 31, 2022, manages approximately $9.5 billion in total assets on behalf of a global institutional investor base. Since 2004, Madison Realty Capital has completed approximately $21 billion in transactions providing borrowers with flexible and highly customized financing solutions, strong underwriting capabilities, and certainty of execution. Headquartered in New York City, with an office in Los Angeles, the firm has approximately 70 employees across all real estate investment, development, and property management disciplines. Madison Realty Capital has been named to Commercial Observer’s prestigious “Power 100” list of New York City real estate players. To learn more, follow us on LinkedIn and visit www.madisonrealtycapital.com.

About Newbond Holdings

Newbond Holdings, founded by Neil Luthra and Vann Avedisian in 2021, is a real estate investment and operating platform focused on debt and equity investments across multiple real estate product types with a hospitality focus as well as investments in related operating businesses and technology platforms. The partners at Newbond have completed over $15 billion of debt and equity transactions. As a vertically integrated operating and investment platform, Newbond is uniquely positioned to create significant value beyond the typical investment process through creative structuring, operations and the development of single and multiple asset brands.

Nathaniel Garnick/Grace Cartwright
Gasthalter & Co.
(212) 257-4170
madisonrealty@gasthalter.com
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Int’l Translation Day being observed

ISLAMABAD: International Translation Day is being observed across the world today (Friday). International Translation Day is being celebrated every year on September 30 to raise awareness about translation and languages which play an important role for society’s development. Theme for the day this year is “A World Without Barriers.”

The United Nations in a statement mentioned that “International Translation Day is meant as an opportunity to pay tribute to the work of language professionals, which plays an important role in bringing nations together, facilitating dialogue, understanding and cooperation, contributing to the development and strengthening world peace and security.”

The day marked the celebration of Bible translator St. Jerome who is considered the father of translators. “St. Jerome was a priest from North-eastern Italy, who is known mostly for his endeavour of translating most of the Bible into Latin from the Greek manuscripts of the New Testament. He also translated parts of the Hebrew Gospel into Greek,” UN website mentioned.

The General Assembly on May 24, 2017 has adopted a resolution for language professionals and announced September 30 as International Translation Day. International Federation of Translators, FIT which was established in 1953 launched the idea of recognizing Translation Day in 1991 to promote the profession all over the world.

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Imran Khan appears before Islamabad court to apologize to Judge Zeba Chaudhry in person

ISLAMABAD: Chairman Pakistan Tehreek-e-Insaf (PTI) Imran Khan on Friday appeared before the court of Additional Sessions Judge, Islamabad Zeba Chaudhry, the female judge whom he had allegedly threatened at a public rally, to apologize.

When Imran Khan reached at the court on Friday morning, the police closed the door of Zeba Chaudhry’s courtroom. Imran Khan was told that Judge Zeba Chaudhry was on leave. “I have come to apologize to judicial magistrate Zeba Chaudhry,” Imran Khan told the court reader. He asked the court reader to stay witness for his appearance in the court of Zeba Chaudhry to offer an apology, as the judge herself was on leave.

The PTI chairman asked the court reader to tell Madam Zeba Chaudhry that Imran Khan had visited and wanted to apologize if any of his words hurt her sentiments. Imran Khan then left the court after the brief conversation.

Imran Khan was booked in a case for threatening judicial magistrate Zeba Chaudhry and senior police officers at a rally in F-9 Park on August 20. An FIR was registered against Mr Khan on the complaint of Magistrate Ali Javed at Margalla Police Station of the federal capital under Section 7 of Anti-Terrorism Act.

However, the Islamabad High Court (IHC) quashed the terror charges and directed to transfer the case to a relevant court under the remaining sections in the FIR on September 19. On September 22, during hearing of a contempt case in the IHC, Imran Khan also requested the court to allow him to apologize to Judge Zeba Chaudhry in person.

On Friday, Imran Khan also appeared before the court of an Additional Sessions Judge in Islamabad in a separate case regarding the violation of Section 144 and sought extension in his interim bail. The court accepted the plea against the surety of Rs5000.

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PAF vigorous relief, rehabilitation activities underway in flood-hit areas

ISLAMABAD: Pakistan Air Force (PAF) is vigorously pursuing relief and rehabilitation activities in flood-affected areas of Khyber Pakhtunkhwa, Sindh, Balochistan and South Punjab.

According to PAF spokesperson, much needed medical assistance is being provided to flood victims at medical camps and through mobile medical teams. PAF Medical Lab Collection Points are also actively involved in diagnosis of water-borne diseases amongst flood affectees.

The PAF personnel have also rescued people stranded at their flooded homes and shifted them to safer locations by utilizing transport fleet, helicopters and boats. Dry ration, cooked food, fresh drinking water and other household items were also distributed amongst the flood-affected people.

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PM lays foundation stone of Bhara Kahu bypass in Islamabad

ISLAMABAD: Prime Minister Shehbaz Sharif laid foundation stone of Bhara Kahu bypass here in Islamabad on Friday.

The 5.4 kilometer long bypass including 1350 meters long overhead bridge will be completed in three months. Speaking on the occasion, the Prime Minister directed National Logistics Cell (NLC) to complete the project within three months instead of its earlier tentative time of four months.

He directed that quality of the project should be ensured. The Prime Minister said this project will facilitate the tourists from all over Pakistan and people of Rawalpindi and Islamabad. He said last government ignored projects which were started by the government of Nawaz Sharif. He said project of metro bus service to airport was on halt but it was resumed by the incumbent government.

Shehbaz Sharif said last government only deceived the public instead of introducing projects for public welfare. He criticized PTI Chairman Imran Khan for misleading the nation and building a fake narrative of conspiracy. He said Imran Khan conspired to divide the institutions and termed other political parties enemies of the country. He said audio leak of Imran Khan proves him a liar.

He said government will make all out efforts to strengthen economy of the country and bring down the inflation. He expressed hope that Pakistan will soon come out of hard time. Earlier, the Prime Minister was also briefed about the project.