Real Estate News Update for May 31

Real Estate News Update for May 31

Dear Readers,

Welcome to the latest edition of ETRealty's daily newsletter, RealtyDigest! Through this especially curated newsletter, we aim to provide the latest real estate and allied industries' news, views, market trends, reports, video interviews and much more to help you navigate the world of real estate.

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International

China may impose record fine on PwC over Evergrande auditing work

China is set to impose a record fine on PricewaterhouseCoopers LLP and may suspend some of its local operations due to its involvement in a major financial fraud case with China Evergrande Group.

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International

WeWork cleared to exit bankruptcy and slash $4 billion in debt

Flexible workspace provider WeWork expanded at breakneck speed but racked up steep losses on its over-extended real estate portfolio before filing for bankruptcy protection in November 2023.

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Commercial

Awfis Space Solutions shares close with over 9% gains in debut trade

On the NSE, Awfis Space Solutions shares climbed 9.2 per cent to settle at Rs 415.95 per piece. In volume terms, 1.36 crore equity shares were traded on the NSE.

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Regulatory

ED attaches assets worth over Rs 290 crore of International Amusement

The Enforcement Directorate has attached properties worth over Rs 290 crore of an amusement and recreation services providing company, including in the popular GIP Mall of Noida, as part of a money laundering investigation.

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Industry

Sunteck Realty posts net profit of Rs 101.33 crore in Q4 FY24

Sunteck Realty's net consolidated total income stood at Rs 434.99 crore in Q4 FY24 as against Rs 56.90 crore it recorded in the similar quarter last year.

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