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Deutsche Pfandbriefbank AG (pbb) is accelerating the execution of its Strategy 2027 by withdrawing from the US market and focusing entirely on Europe. The move is intended to streamline operations and channel resources into more profitable, stable markets. The bank will wind down, securitise, or sell its €4.1 billion US portfolio, which has an average remaining maturity of 2.5 years.

With a total value of $379.7 trillion at the end of 2022, real estate is worth more than the global equity and bond markets combined and is almost four times the size of global GDP, shows a Savills report.

Following other large corporations, New-York based asset manager BlackRock will order a massive return of its employees in the office starting this autumn. The company added a day to its current requirement of three days a week in the office in a bid to boost collaboration and training of its employees.