Housing Australia Future Fund Progress Remains Below Target Australia: Official figures show that Australia's Housing Australia Future Fund (HAFF) had delivered 1,432 social and affordable homes by April, more than two years after its launch. The AUD 10 billion programme aims to deliver 40,000 homes by 2029. According to Housing Australia, a further 5,189 homes are in planning, 4,927 are in pre-development and 6,851 are under development. However, only 82 of the 173 projects

Australia Housing Market Slows Amid Higher Borrowing Costs Australia: Australia's housing market has recorded its sharpest slowdown since the pandemic as higher borrowing costs and changes to tax incentives have weakened market activity. House prices in Sydney and Melbourne have fallen by nearly 5% since the beginning of the year, accompanied by lower auction clearance rates, reduced loan enquiries and declining property sales. The slowdown is expected to affect related indus

New Zealand Updates Infrastructure Funding Framework for Housing Development New Zealand: New Zealand has passed the Infrastructure Funding and Financing Amendment Bill, introducing changes intended to expand funding options for infrastructure supporting residential development. The legislation allows councils, developers and infrastructure providers to use a wider range of financing mechanisms without increasing council borrowing. Under the framework, private investors can f

tiles India's robust housing market is helping the country's tile and marble industry withstand supply-chain disruptions, higher freight rates and fuel price volatility stemming from geopolitical tensions in West Asia. The ongoing conflict in the region has disrupted shipping routes through the Red Sea, leading to higher freight costs, longer transit times and increased marine insurance premiums. Ceramic manufacturers, particularly those in Gujarat's Morbi manufacturing hub,

India's New PVC Import Rule Could Raise Costs for Construction and Building Products India: India has introduced a minimum import price (MIP) on Suspension Grade Polyvinyl Chloride (S-PVC) resin, a material widely used in construction products such as pipes, plumbing fittings and electrical conduits. Under a notification issued by the Directorate General of Foreign Trade (DGFT), imports with a Cost, Insurance and Freight (CIF) value of USD 0.766 per kg or below will require a

Saint-Gobain Expands Asia-Pacific Presence Through Two Acquisitions Vietnam and Japan: Saint-Gobain has announced two acquisitions in the Asia-Pacific region as part of its strategy to expand its presence in construction materials. In Vietnam, the company has completed the acquisition of Phu My Innovative Materials (PMIM), a plasterboard manufacturer that generated approximately EUR 20 million (USD 23.5 million) in revenue during 2025. The acquisition strengthens Saint-Gobain

Demand for Portable Air Conditioners Increases in Japan Japan: Demand for portable air conditioners has increased in Japan following periods of extremely high temperatures, particularly in the Tokai region where temperatures have exceeded 40°C. Retailers reported higher sales of portable units, which are generally priced between JPY 30,000 and JPY 50,000 (USD 200–335). Manufacturers and retailers have also expanded their product ranges as consumers increasingly purchase porta

Fogatti Partners with Ranger Distribution in North America North America: Ranger Distribution Inc. has entered into a distribution agreement with Fogatti to supply the company's RV product portfolio across North America. Under the agreement, Ranger Distribution will distribute rooftop air conditioners, ranges, cooktops, range hoods and KingRVer water heaters to RV original equipment manufacturers (OEMs) and industry partners. The partnership expands the availability of Fogatt

Samsung Electronics Reports Record Q2 Revenue and Operating Profit SOUTH KOREA: Samsung Electronics reported record Q2 2026 consolidated revenue of approximately US$118.9 billion and operating profit of around US$62.0 billion. While semiconductor products remained the primary growth driver, the Digital Appliances (DA) business recorded higher revenue supported by strong demand for air conditioners during the quarter. Despite cost pressures weighing on profitability, Samsung s

Alps Controls Expands HVAC Controls Portfolio Through Copeland Distribution Partnership UNITED STATES: Alps Controls has entered into a distribution agreement with Copeland to expand its portfolio of HVAC controls and temperature management products. The partnership adds Copeland's range of electronic temperature controllers, communicating and non-communicating thermostats, thermostat accessories, and protective enclosures to the Alps Controls online marketplace. The expanded

Mitsubishi Electric to Invest US$30 Million in Ohio IT Cooling Manufacturing Facility UNITED STATES: Mitsubishi Electric has announced plans to establish MEHITS US, Inc. in Mason, Ohio, to manufacture IT cooling equipment for the rapidly expanding U.S. data centre market. The company will invest approximately US$30 million to renovate and repurpose part of an existing manufacturing facility, with production scheduled to begin in April 2027. The new plant will strengthen Mitsu

Pentair to Acquire Taco Group for US$1.4 Billion to Expand HVAC Portfolio UNITED STATES: Pentair has announced plans to acquire Taco Group Holdings, the parent company of HVAC equipment manufacturer Taco Inc., in a transaction valued at approximately US$1.4 billion, subject to customary adjustments. The acquisition will strengthen Pentair's portfolio of water management solutions, increasing its exposure to high-growth markets including HVAC and data centres, primarily in Nor