Real Estate & Construction News Roundup (04/26/23) – The Energy Transition and a Bit of Brick-and-Mortar Blues
In today’s roundup, Americans can buy homes with bitcoin, new tech aims to engineer a novel building material, federal investments boost the coastline (and construction sales), and more.
- A bitcoin real estate marketplace, claiming it can close deals within one business day, made its U.S. debut. (Carla Mozée, Markets Insider)
- Amid record-setting real estate prices in Dubai, the $34 million sale of a parcel of empty land on a luxury island marks a new high. (Megan Cerullo, CBS)
- Analysts at Goldman Sachs and UBS weigh in on a predicted commercial real estate downturn. (Alena Botros, Fortune)
- As materials shortages persist, Woodoo announced it has raised $31 million for its technology startup that converts discarded wood into high-performance commodity building materials. (Dean Takahashi, VentureBeat)
- Confronted by an economic slowdown, Google paused construction of its 80-acre campus in San Jose, Calif. (Jennifer Elias, CNBC)
- In a trend of veering away from traditional brick-and-mortar offices, tech giant Cisco Systems unveiled its new experiential office and showroom in Atlanta. (Jena McGregor, Forbes)
- Vice President Harris announced a $562 million federal investment that aims to fortify coastal states against extreme weather fueled by climate change. (Joe Fisher, UPI)
- President Biden’s infrastructure law is boosting construction sales in North America, which helped Caterpillar Inc. post strong revenue growth this quarter in spite of supply chain challenges. (Bianca Flowers, Reuters)
- A bipartisan congressional group, saying union labor would be used during construction, has sent the Biden administration a proposal for a high-speed rail line that would travel from Las Vegas to Los Angeles. (Ken Ritter, Associated Press)
- The Environmental Protection Agency proposed legislation that, for the first time, would limit greenhouse gas emissions from power plants. (Coral Davenport and Lisa Friedman, The New York Times)
- A large-scale off-shore wind project in the North Sea would allow for the transfer of green power between the United Kingdom and the Netherlands. (Georgina Rannard, BBC)
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