Real Estate & Construction News Round-Up 12/01/21

Investment firms turn their attention towards acquiring digital land, China works to manage its real estate debt, the European Union announces a multibillion-euro infrastructure bill, and more.

• A growing number of investment firms are acquiring digital land in virtual worlds like Sandbox and Decentraland, betting that as more individuals and companies join these worlds, the value of properties will increase. (Konrad Putzier, The Wall Street Journal)
• Given that new construction and daily operations of buildings produce around 40% of the world’s greenhouse gases (GHGs), building owners who embrace sustainability will not only preserve the environment but also accelerate their profitability. (Commercial Observer)
• As more companies continue their technology transformation, digitizing spaces through the use of Building Information Modeling (BIM) software will be a key element in driving growth, as it removes geographical limitations and allows for unique and innovative consumer experiences. (Jon Mason, Venture Beat)
• The European Union announced a multibillion-euro infrastructure plan, coined the Global Gateway, which is expected to mobilize up to 300 billion euros ($341 billion) in public and private finds by 2027. (Samuel Petrequin, New Haven Register)
• China balances reducing the debt of its real estate sector with efforts to avoid pushing property developers towards bankruptcy. (Michele Koh Morollo, Aljazeera)