Capital Markets & REITs: PLDT is pushing the Philippines’ first digital infrastructure REIT, filing to list VITRO REIT Inc. to raise up to ₱24.2bn, with public investors targeting ~49% ownership and dividends required at least 90% of distributable income. Commercial Real Estate Finance: Gumption adds John Brooks as VP Capital Markets (California) to expand West Coast CRE lending origination as private credit tightens. Data Centers: Digital Realty bought ~1,440 acres near Kansas City for about $475m to expand hyperscale development, while also scaling colocation/connectivity via Teraco stakes and acquiring Columbia Capital. Housing Safety Policy: States and cities are loosening building code rules to cut construction costs for affordable housing, but safety experts warn changes like single-stairway designs could raise risk. Geopolitics & Markets: Fitch says Saudi asset management stayed resilient during the Iran conflict and could top $400bn AUM by 2027, with regulatory easing and a possible US-Iran deal as tailwinds. Middle East Retail: A BCG report argues GCC retail real estate needs to move beyond “space-first” models as luxury supply outpaces spending and digital/data capabilities become critical. Disaster Watch: Lucknow’s Aliganj coaching-center fire killed at least 14 after students jumped to escape; authorities deployed 14 fire tenders and search operations continue. Global Hospitality Investment: JLL reports luxury hotel transactions in Asia-Pacific jumped 77% (2017-2025) to about $2.1bn in 2025, though supply remains tight.