Saudi Arabia Approves 19 Hospitality Projects Worth US$1.8 Billion to Boost Tourism Saudi Arabia: Saudi Arabia has approved 19 hospitality projects under its Hospitality Investment Enablers (HIE) Programme, attracting SAR6.7 billion (US$1.8 billion) in investment and expected to create more than 17,000 jobs across five tourism destinations. Announced by the Ministries of Tourism and Investment, the projects will add over 3,000 hotel rooms, with approximately 40% planned for c

NKBA’s 2027 Kitchen Trends Report Highlights More Defined Layouts, Wellness and Climate Resilience US: The National Kitchen & Bath Association (NKBA), representing nearly 55,000 North American kitchen and bath professionals, has released its 2027 Kitchen Trends Report, highlighting a shift towards zoned layouts, partial walls and semi-enclosed kitchens, alongside greater emphasis on wellness and climate resilience. The share of designers expecting kitchen footprints to increa

Greenwich Capital Partners Acquires Majority Stake in Australian HVAC Business AUSCOOL GROUP Australia: Mid-market private equity investor Greenwich Capital Partners has acquired a majority stake in Melbourne-based AUSCOOL GROUP, according to the Australian Financial Review. The transaction marks Greenwich Capital Partners’ entry into the heating, ventilation and air-conditioning (HVAC) sector, which has proved lucrative for US private equity firms. The purchase price, exact

Queensland’s US$1.56 Billion Infrastructure Fund to Unlock Land for Over 50,000 Homes Australia: Queensland, Australia, has opened applications for its US$1.56 billion (A$2.4 billion) Infrastructure Activation Fund to unlock development-ready land and support the delivery of more than 50,000 homes, including over 20,500 for first-home buyers. The Housing Industry Association (HIA) welcomed the initiative, which will provide grants and interest-free loans to accelerate essenti

BDR THERMEA Appoints Stephan Kreutzer as Managing Director of Its German Business Germany: BDR THERMEA has appointed Stephan Kreutzer as Managing Director of BDR THERMEA Deutschland, effective 1 November 2026, overseeing the BRÖTJE, REMEHA and SENERTEC brands. Kreutzer brings over 15 years of management experience in the building technology and industrial sectors, having held senior positions at Formel D Group, VIEGA and HAGER GROUP, most recently serving as Vice President Re

UL Solutions Expands HVACR Testing Facility in Texas USA: UL Solutions inaugurated its expanded HVACR Center of Excellence in Plano, Texas, on October 12, 2026, increasing testing capabilities for energy-efficient heating and cooling equipment, low-impact refrigerants and data center cooling technologies. The facility supports testing of heat pumps, air conditioners, chillers, VRF systems and coolant distribution units. New chambers simulate diverse temperature and humidity c

Second-Hand Air Conditioners Gain Popularity in the Philippines Ahead of El Niño PHILIPPINES: Demand for second-hand air conditioners is rising in the Philippines ahead of an expected strong El Niño, as consumers seek affordable cooling options. According to the ninth ASEAN Energy Outlook, up to 300,000 used units are sold annually, equivalent to roughly one-third of new-unit sales. Most are window-type models, often purchased because of their lower upfront cost. However, poo

Hitachi and Nojima Name New Home Appliance Company KADENOVA JAPAN: Hitachi Global Life Solutions has announced that its new home appliance company, established through a strategic partnership with Japan’s Nojima Corporation, will be named KADENOVA Corporation. Mikio Yamada, currently an executive managing director at Hitachi GLS, has been selected as its representative director. The company aims to begin operations during the fiscal year ending March 2027, subject to regulato

Saudi Economy Shows Resilience Amid Regional Conflict SAUDI ARABIA: Saudi Arabia’s economy remains resilient despite the ongoing Middle East conflict, supported by strong financial reserves, a well-capitalized banking sector and prudent economic policies, Saudi Central Bank Governor Ayman Al-Sayari said at the 2026 IMF and World Bank Annual Meetings in Thailand. He warned that regional instability was disrupting global trade, shipping routes, transportation and inflation, inc

Malaysia’s Economy Grows 5.3% as Government Advances Fiscal Reforms MALAYSIA: Malaysia’s economy is estimated to have grown 5.3% in the third quarter of 2026, following 6.0% growth in the previous quarter, according to the Department of Statistics Malaysia. Prime Minister Anwar Ibrahim attributed the country’s resilience to fiscal reforms, targeted subsidies and improved governance, with cumulative growth reaching 5.5% in the first three quarters. However, rising global oil p

Netherlands to Introduce Smart Hybrid Heat Pump Standard in 2029 NETHERLANDS: The Netherlands plans to make smart hybrid heat pumps the standard replacement for gas boilers from 2029 in homes not connected to district heating networks. The policy aims to reduce natural gas consumption and support the country’s transition to fossil-free heating by 2050. According to the government, hybrid heat pumps can reduce gas use for heating by around 65% and CO₂ emissions by over 30%. NE

Dutch Government Allocates EUR 355 Million for Housing Infrastructure Netherlands: The Dutch government has allocated EUR 355 million (USD 412 million) for infrastructure supporting the development of nearly 30,000 homes. The funding forms part of a broader investment exceeding EUR 16 billion in the maintenance and renewal of roads, bridges, railways and waterways. Municipalities including Alkmaar, Apeldoorn, Hengelo, Enschede and Helmond have welcomed the allocation, which w

Urban Company Receives Approval to Explore Residential Air Conditioner Market India: Urban Company has received in-principal approval from its board to explore residential air conditioners as a new business under its Native brand. The company, which already offers water purifiers and smart locks under the brand, plans to assess opportunities in the residential cooling market. The proposed entry would place it in a segment served by established manufacturers, including Samsung

Canada Announces Heat Pump Rebates and Skilled Trades Funding Canada: The Canadian federal government has announced funding measures to support residential heat pump installations and address labour shortages in skilled trades. The heat pump programme, announced by Prime Minister Mark Carney, will provide rebates of up to CAD 10,000 (approximately USD 7,200) for eligible middle- and low-income households replacing older, inefficient or failed heating systems. Other eligible h

Canada-US Tariff Dispute Raises Residential Construction Costs Canada: Counter-tariffs introduced on 8 September 2026 are increasing residential construction costs in Ontario, according to a report by the Residential Construction Council of Ontario (RESCON). The measures are estimated to add CAD 9,000 to CAD 14,000 (approximately USD 6,500 to USD 10,100) to the cost of a typical single-detached home and CAD 18,000 to CAD 28,000 (approximately USD 13,000 to USD 20,200) to a mi

Prince Edward Island Introduces CAD 1,200 Annual Home Heating Assistance Canada: Prince Edward Island has introduced the PEI Home Heating Program to provide financial assistance to eligible low-income households facing difficulties paying heating bills. Qualifying applicants can receive CAD 1,200 (approximately USD 864) per calendar year. Eligibility is restricted to residents experiencing financial hardship who are Canadian citizens or permanent residents, pay their own heat

US Senators Introduce Bipartisan Bill to Reform Federal Permitting United States: Four US senators introduced the Bipartisan American Affordability and Jobs Act of 2026 on 30 September, proposing changes to the federal permitting system for infrastructure and industrial projects. Sponsored by Shelley Moore Capito, Martin Heinrich, Mike Lee and Sheldon Whitehouse, the legislation seeks to establish clearer review timelines and reduce delays associated with environmental assess

Bahrain Begins First Phase of Muharraq Urban Regeneration Project Bahrain: The first phase of the Muharraq City Development Project has commenced, covering the construction and restoration of 300 housing units across six neighbourhoods, alongside upgrades to roads, building façades, car parks and public spaces. The phase also includes the restoration of 16 heritage buildings along the UNESCO-listed Pearling Path for future tourism and cultural uses. Completion is scheduled fo

TCL Hosts Philippine Dealers at Guangzhou Air Conditioning Facility China: TCL has hosted business-to-business dealers from the Philippines on a two-day tour of its Guangzhou Intelligent Manufacturing Base, providing an overview of its residential and commercial air conditioning production processes. The facility includes three automated factories, 15 research and development laboratories and 10 intelligent production lines. During the visit, dealers observed manufacturing op

Hannover Finanz Opportunities Acquires Majority Stake in Keuco Germany: Hannover Finanz Opportunities (HFO), the special situations investment unit of Hannover Finanz Group, has acquired a majority stake in bathroom products manufacturer Keuco GmbH & Co. KG through a share transaction. The financial terms have not been disclosed. Founded in 1953 and headquartered in Hemer, Germany, Keuco supplies bathroom accessories, fittings, mirrored cabinets and bathroom furniture. The co

Sanitairwinkel Automation Increases Warehouse Storage Capacity by 75% Netherlands: Sanitairwinkel has expanded warehouse automation at its distribution centre in Den Bosch to accommodate growing order volumes, limited storage space and staff shortages. The sanitary ware retailer, which serves customers in the Netherlands, Belgium and France, has implemented an AutoStore system integrated by Syncore with its existing Webstock warehouse management system. The installation accom

Schneider Electric USA: Schneider Electric has announced a new Smart Thermostat, co-developed with Apple for the Apple Home Collection, alongside an exclusive Power Mount for the newly introduced Apple HomeView (Wall Mounted). The products combine Schneider Electric’s expertise in home energy management with Apple’s connected home ecosystem, enabling homeowners to manage energy use while enhancing comfort and privacy. The collaboration also includes a Room Sensor designed to

SPX Logo USA: SPX Technologies, Inc. has completed the acquisition of FIS Water, LLC, including certain tax attributes, for approximately $410 million in cash. Established in 2018, FIS Water offers a portfolio of established brands specialising in engineered water management and control solutions, primarily for commercial and industrial cooling applications. Its products remove solids, maintain water quality, and regulate water flow to protect and improve cooling system perfo

Boiler UK: UK homeowners replacing a faulty heating system could face an additional charge of up to £140 (approximately US$188) on a standard gas boiler, as the government considers tightening heat pump sales requirements under the Clean Heat Market Mechanism (CHMM). The proposed changes could increase the mandated heat pump sales quota for heating manufacturers from 8% to 18% of their total boiler sales, raising compliance costs for companies that fail to meet the targets. C