On the 14th of March, California authorities issued an initial project which included a prime proposal to reform the Sacramento-San Joaquin Delta in an effort to secure water supply across the state. In addition, the documents of the Bay Delta Conservation Plan centrally focused on the California Governor Jerry Brown’s multi-billion suggestion to bring back the equipoise of the ecosystem and provide stable water supply for the state.
The Confederation of British Industry, UK’s leading lobbying organization, suggested that the forthcoming 2013 Budget should be centrally focused on creating around 50,000 new homes in order to reduce fiscal deficit. Moreover, the British Chambers of Commerce supported the plea put forward by the CBI to promote infrastructure.
Getting a chance to organize and host the 2014 Winter Olympics is one of few opportunities when Russia can show the whole world how big and powerful it is. And it is – nothing to sneeze at. Yet, the preparations for the 2014 Winter Olympics in Sochi amounted to record $50 billion. Billions of dollars are being spent to rebuild national prestige and pride
Even though the U.K. saw house prices drop for a sixth month in December, it has still true jewels which cannot be described as cheap and average at all. Lloyds TSB issued its annual list of most expensive streets in the U.K. Not surprisingly, London has once again outperformed other cities in the competition as all from the top ten are located in the capital of the U.K. According to the survey, residences located in Egerton Crescent, Kensington and Chelsea, London, are the costliest with the average house being valued at over £8 million
Nokia Corp. informed on the 4th of December that it signed an agreement to sell and lease back its headquarters located in Espoo, Finland. The Nokia Corp.’s decision to sell the headquarters comes as the Finish mobile maker is struggling due to tough economic conditions and strong competition in the market. Exilion Capital Oy, the Finland-based software consultancy firm, acquired the Nokia Corp.’s headquarters for approximately €170 million, or $222 million. The transaction is to be completed by the end of 2012.
Dubai aims high as it has announced its plans to build the world’s biggest shopping mall and tallest hotel, not to mention gardens that are said to be larger than London’s Hyde Park. Dubai revives its property projects which have been postponed due to the global financial crisis. And it is not surprising that Dubai wants everything to be big as it always aims at showing off. So its big comeback is not unexpectedly revolving around the business of biggest.
The UK construction sector shrunk for a second straight month in September as production and new orders continued to decline. The level of business morale was even closer to its lowest one when Britain entered recession in 2008. The PMI for UK construction sector, however, increased slightly to 49.5.
Newbury Racecourse Plc has informed that it agreed to sell part of the land to David Wilson Homes, the property developer, who intends to build approximately 1,500 homes in the next 10 years.According to the deal, David Wilson will pay £42.6m for the land, with the proceeds funding new racecourse facilities as well.
Philippine Airlines informed that it had signed a $7 billion contract to buy 54 Airbus jets as part of modernization program to meet higher demands for transporting both passengers and cargo in Asia, the Middle East and Australia. Moreover Philippine Airlines, the country’s largest full-service carrier, announced that it planned to buy dozen more planes. Airbus won the $7 billion contract, beating Boeing Co. despite the U.S. support for Manila in a diplomatic dispute with the People’s Republic of China.
BHP Billiton, the top global miner, informed that its Olympic Dam cooper expansion project was delayed. BHP officials added that no major projects would be approved in a year to June 2013. BHP called off one of its “mega projects” called Olympic Dam, which had aimed to expand the company’s copper-uranium development is South Australia as it has to face increasing capital costs.
Mouchel Group Plc. informed that it had agreed to restructure the company. The restructuring will give Mouchel’s lenders a majority interest in the infrastructure firm. In addition the company agreed to delist itself to avert an impending debt default. A consortium of banks, consists of Royal Bank of Scotland, Lloyds Banking Group and Barclays, will take control of Mouchel.
In a thrilling bit of news, the latest in development merges with the latest in building and the latest in environmental reforms, as construction on the largest solar bridge in the world begins. Located in the heart of London, the Blackfriars Station is going to be the proud new site of the biggest solar panel [...]
Zero-energy, flexible light displays that project the city of tomorrow as being an array of buildings with a constantly changing, customizable display arena, UrbanTiles is a concept created by Israeli industrial designer, Meidad Marzan, for his graduation project at the Bezalel Academy of Art and Design. The concept involves the use of a matrix of [...]
Earlier this year we featured the World’s Most Expensive Home, Antilla, Mumbai, which also figures as the world’s first-even billion-dollar home. With dense urban living becoming more of a reality than ever before, the obvious next question is : which are the world’s most luxurious (read: expensive) penthouses and how much do they cost ? [...]
Symbolizing hope and renewal at every level of detail, the memorial that will be inaugurated at Ground Zero on September 11th 2011 is a physical translation of New Yorkers reflecting on and remembering the lives of those who were lost ten years ago. With two enormous waterfalls and reflecting pools, each about an acre in [...]
According to data released by the RICS (Royal Institution of Chartered Surveyors), the housing market in Britain is on a firm decline, with the monthly house price balance for May falling to minus-28 in May from minus-21 in April. This decline, as opposed to an expected betterment in figures to minus-20 for May, marks the [...]
Widespread belief is that sustainable development and U.A.E usually don’t figure together in the same context. However, the upcoming Masdar City in Abu Dhabi, promising “the highest quality living and working environment with the lowest possible ecological footprint”, safely puts to rest this pre-conceived notion regarding the lack of large-scale green initiatives in this part [...]
One of Moshe Safdie’s “first principles” that form the basis of his design philosophy – “humanizing the megascale” takes on an entirely new dimension when considered in context of Marina Bay Sands’ Skypark and Infinity Pool. To start with, think Singapore and you’re probably visualizing an intensely dense city, teeming with people constantly. Sure, there’s [...]
To alleviate the 80,000 units per annum estimated housing shortage in the U.K, the Royal Institution of Chartered Surveyors (RICS) has identified the return of prefab as the most suitable solution! Team that with making these new prefab homes out of recycled plastic, and pricing them at as little as £20,000, and bingo! How many birds [...]