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The long-awaited debut Brazilian residential mortgage-backed securities transaction backed by a bank’s own mortgage portfolio will be priced in the next few weeks. Despite Brazil’s booming economy and growing securitization market, RMBS has been slow to get off the ground. But things are changing. ABN Amro’s R$100 million ($50.5 million) deal should hit the market by early September, if not before. Caixa Economica Federal, a government-controlled bank, should be second to market, as it plans to bring its inaugural transaction to the market by the year-end.

In late May, Russia’s state-owned Agency for Housing Mortgage Lending opened the local mortgage-backed securities market with a deal that aims to lay the foundations for domestic issuance. AHML, the government agency established in the mid-1990s to refinance mortgages, has been a driving force in the development of Russia’s MBS law. This first public deal is seen as a test of this law, which should drive the development of Russia’s burgeoning mortgage market.

Investors are being won over by the argument that currencies provide systematic returns, writes Jason Batt of Deutsche Bank.

From humble beginnings a decade ago, Deutsche Bank’s commercial real estate business has grown into a powerhouse. Led by Jon Vaccaro, the group is making headlines globally with high-profile deals – from the Blackstone Group’s acquisition of Hilton to the development of Macao Studio City. Rachel Wolcott reports.

It was just a matter of time before the true extent of the damage caused by sub-prime mortgage losses was uncovered. When, in February, the significant increase in sub-prime delinquencies became known, credit market watchers could only speculate about the ultimate impact.

National Bank of Kuwait is a leading force in raising capital using Shariah-compliant instruments for property development in its domestic market and in the region. Nigel Dudley reports.

Real estate -- Dropdown by region -- Asia