The UAE's commercial proprty market is performing so well that it is leading the way in the global recovery in the midst of an "improving macro climate" according to the most recent RICS Global Commercial Property Market Monitor. Growth indicators are increasingly evident worldwide and results are pointing to a slightly faster improvement in... Read More
This week it was announced that Bombardier had been awarded a contract to supply trains for London Crossrail. The £1 billion contract, awarded by the Department for Transport (DfT) and Transport for London, will see the manufacturing firm supply and maintain a total of 65 new trains and build a new Crossrail depot at Old Oak Common. In... Read More
The plastic bag tax which has already been implemented in Wales and Ireland is due to come into effect in England following the general election in 2015. With the majority of ministers behind the plan in principle, it is hoped that it will further contribute to efforts supermarkets are making to improve their eco-friendly practices and lead... Read More
Davy Stockbrokers have claimed that office rents are set to go as high as €50 per square foot in what amounts to one of the most bullish calls on the future of the Dublin commercial property market in recent history. According to the broker's most recent report on the sector, rents can jump 40 per cent on current levels, as the... Read More
As consumer confidence continues to improve and real wages slowly begin to creep up, the retail industry has benefited from a surprisingly strong rise in profitability. However, while chains such as John Lewis and Home Retail Group’s subsidiaries Argos and Homebase are now consistently posting excellent results, the future remains uncertain... Read More
The commercial real estate market in Canada's 'Heart of the New West" remains bullish, according to a new report released by CBRE. The company recently released its 2014 Canadian Market Outlook, which states that, despite a slight slow-down in activity, the outlook remains positive. According to Greg Kwong, the executive... Read More
The latest round of interest rate increases by the South African Reserve Bank (SARB) has proved to be a disappointment to the commercial property market. SARB has increased the repo rate by 50 basis points to 5.5 per cent, due to concerns over the inflation outlook. Robin Lockhart-Ross, the Head of Risk at Nedbank Corporate Property... Read More
DTZ has published its European all-property Fair Value Index results for Q4 2013. The Index, which provides insight into the attractiveness of current pricing in European property markets, remained stable in the fourth quarter of last year at 72, although the figures were down slightly from 74 in Q3. European offices dipped from 60 to 55,... Read More
As businesses continue to invest in growth and attempt to widen their client bases, an increasing number are finding it difficult to fill vacant staffing positions with suitably qualified applicants. In response to this problem, a number of industry bodies have called for a greater number of apprenticeships to be offered to school leavers... Read More
Three years after a £200m dockland regeneration scheme ground to a halt the Homes and Community Agency has confirmed it is searching for a new partner to restart the Middlehaven project. Middlesbrough College campus at Middlehaven A master plan for Middlebrough’s former dock front was first drawn up in 2004. It included industrial... Read More
In the lead up to Christmas 2013, a number of retailers demanded rebates from their suppliers as a result of the uncertain trading conditions. In part this is because, although the retail industry has taken great steps towards recovery, the memories of the tough times faced in the recession are never far from retailers’ minds and they... Read More
Thirteen years after it was originally submitted Edinburgh planners have approved a reworked application to redevelop the city’s Caltongate area. The controversial £150m scheme, like its old town site, has survived a troubled history. The original Caltongate redevelopment project was first unveiled in 2001 and granted planning... Read More
The private equity firm Blackstone has become the latest investment house to shift its money from Germany’s housing market to the country’s commercial sector. The New York-based Blackstone Group was one of the first multi-nationals to cash in on Germany’s post-recession housing market. That sector is now maturing and, like its... Read More
Prologis — which recently posted a fourth-quarter profit of $61m — has confirmed its second UK industrial development in as many weeks. In January the San Francisco-based company announced it was adding an extra 262,500sq ft of logistics warehousing at Prologis Park in South London. The build-to-suit distribution facility has been... Read More
The Welsh Economy Minister Edwina Hart has ordered a viability study into the setting up and operation of a development bank to support the country’s businesses. Edwina Hart AM A development bank for Wales was proposed in a review last year by the economist Dylan Jones-Evans. The minister has decided to explore its potential... Read More
A unique long range survey of Californian building trends has rated Silicon Valley as the most “optimistic” for office development. The twice-yearly report — compiled by law firm Allen Matkins and the University of California Los Angeles — questions construction and development companies about their outlook for the next three... Read More
Office space in Central London continues to be in high demand. As a result property agent Carter Jonas predicts widespread rental growth as the supply begins to dwindle. Carter Jonas has forecast an average rental increase of between 5 per cent and 9 per cent by the end of 2014, with the largest increases expected to affect businesses... Read More
Sports Direct has become a powerhouse of the British retailing scene, in part, due to the acquisitions it has made. Now the chain appears to be looking further afield with founder Mike Ashley having spent the past weekend in Dublin. It is thought that he stepped in to outbid a rival firm for the ownership of Irish sports retailer Elverys, the... Read More
Board face ‘massive challenge’ without commercial element concedes chairman The long-running Southbank Centre redevelopment saga took another – possibly final – twist today, when the arts venue announced it was putting its planning application on hold. The application was scheduled to be heard this month but the board has now... Read More
The global recession, while presenting many challenges, also paved the way for alternative economies to compete on a global scale. In the tech sector this has allowed cities previously associated with other industries to emerge as leading contenders in the field. One example of this is Nashville, Tennessee, known worldwide as the... Read More
Small British businesses are experiencing a change in fortunes this year, with overall conditions improving for the majority. Yet while the orders may be rolling in, one area remains of high concern to SMEs and larger firms alike – business costs. According to new research published by the Forum of Private Business, “the cost of doing... Read More
Dubai’s Tourism and Commerce Marketing agency has confirmed the cost of staging the World Expo 2020 event is expected to be at least £6.45bn. Planning work for the exposition — whose theme is “Connecting Minds, Creating the Future” — is already underway with site preparation expected to begin early next year. A “significant... Read More
