UBS to liquidate $2 billion real estate fund post market downturn

16 Aug 2024 CW Team

UBS has announced plans to liquidate a $2 billion real estate fund it inherited through its acquisition of Credit Suisse. The Swiss bank's decision comes as investors increasingly pull out of struggling commercial property markets. The fund, heavily invested in office spaces, faced significant redemption requests, prompting UBS to conclude that winding down the entire fund was the best course of action. The global commercial real estate market, particularly in the U.S., has experienced a steep decline in valuations since 2021, driven by rising office vacancy rates following the pandemic. UBS reported that 83% of the fund?s investments were in office properties, with significant exposure to the U.S. (22%), Germany (16%), and Canada (14%). UBS noted that continued efforts to meet redemption requests would necessitate selling assets at unfavourable prices, adversely affecting existing investors and diminishing the attractiveness of the remaining portfolio. The decision to liquidate marks the latest sign of distress in the commercial property sector, as financial institutions like Blackstone Mortgage Trust and Starwood Real Estate Income Trust have also taken measures to avoid forced sales in the current market environment. (ET)

Infrastructure Urban

13 Mar 2026

Implementation Status of Jal Jeevan Mission

Since August 2019 the Government has implemented Jal Jeevan Mission to provide assured potable water through household tap connections in rural India. At the start of the mission only 32.3 million (mn) rural households, representing 16.7 per cent, were reported to have tap water connections. States and union territories have reported that 125.8 mn additional rural households have since been provided with tap connections. As a result, of about 193.6 mn rural households roughly 158.2 mn, or 81.71 per cent, are reported to have tap water supply at home.\n\nThe State, district and village level st..

Jal Jeevan Mission Reaches Eighty One Per Cent Rural Coverage

The Government reported substantial progress under the Jal Jeevan Mission, launched in August 2019 to provide tap water to every rural household. At launch only 32.3 million (mn) rural households had tap connections and states and Union territories reported provision of 125.8 mn additional households by March 2026. Consequently, out of about 193.6 mn rural households around 158.2 mn, or 81.71 per cent, are reported to have tap water at home. The Finance Minister announced extension of the mission until 2028 in the 2025-26 budget speech. The Swachh Bharat Mission Grameen, launched in October 20..

Empowering Local Governance for Sustainable Rural Water Supply

The Ministry of Jal Shakti has aligned the Jal Jeevan Mission (JJM) with the 73rd Amendment to strengthen village level planning and community ownership of water supply. Gram Panchayats, village water and sanitation committees and Pani Samitis are to plan, implement, manage and maintain piped water systems, with gram sabha processes formalising handover and oversight. Implementation support agencies including non government organisations, community based organisations and self help groups have been empanelled to train local committees and promote women participation. Under JJM, the department ..