, Russian splendor amounts to $50b for 2014 Winter Olympics
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
, List of U.K. most expensive residential streets revealed
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
, Dubai aims high as it plans to open world’s biggest mall and tallest hotel
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.
, Archstone Inc. Attempts to Raise $3.5 Billion in IPO
On the 19th of November, Archstone Inc. stated that it expected to collect an amount of almost $3.45 billion in its first public offering. If the plans come true, the Archstone Inc.’s IPO will be, without a doubt, the largest commercial US real estate IPO of all time.
, UK Construction Sector Continues to Shrink in September
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.
, Manhattan Apartment Sales Grew in spite of Drop in Inventory
Manhattan inventory of properties for sales shrunk to the lowest level in seven years, creating one more obstacle for potential buyers. Owners have been deciding to refrain their properties as the prices on the market are flat. Despite a visible drop in Manhattan apartments inventory, the apartment sales grew in the third quarter of 2012 reaching the highest level since the financial crisis started; as demand strengthened.
, Rising home prices in the U.S. hit highest level in 2 years
Home prices continued rising in July across the United States. According to reports, home prices in the U.S. biggest cities have risen to the highest level in almost two years. A strong summer selling season has put the real estate market on its feet since the big estate bubble broke nearly 5 years ago. The real estate market in the U.S. has been stabilizing as sales and prices are up, and more homeowners do not have problems with paying their mortgage payments on time.
, Lennar Corp.’s profit grows as home demand climbs
Lennar Corp., the third-largest U.S. homebuilder by revenue, reported higher fiscal third-quarter earnings as demand for new homes jumped. The Lennar Corp.’s earnings results are also sharply higher because of a tax benefit. Yet analysts are not too optimistic about the future of the company as they saw Lennar Corp.’s shares dropped.
, Newbury Racecourse sells land in £42m deal
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.
, The Most expensive UK mansion on sale for £300m
A huge mansion, which is said to be most expensive in London, is for sale for the sum of £300 million. The Britain’s most expensive house, which is currently on sale, was the former residence of the Lebanese Prime Minister and Saudi crown prince. The house, 2-8a Rutland Gate with a view of Hyde Park, bullet-proof windows and an underground car park, is believed to be the most expensive one ever marketed in the Britain.
, Philippine Airlines signs $7b deal with Airbus
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.
, Industries Working to Bolster Civil Engineering Jobs
In the United States, the heavy and civil engineering sector added 3,700 hundred jobs in October. Although that is 50 percent than what the sector created at the same time a year ago, the heavy and civil engineering sector is still doing much better than most other sectors, such as specialty trade contracting, which lost over 22,000 jobs.
, Global Construction Industry Will Remain Flat through 2012
The latest construction trade survey from the Construction Products Association in the United Kingdom reported that construction output to fall by1.1% in 2011 and 3.6% in 2012, with no return to growth until 2014. The reason for this is the drop in public sector investment spending, coupled with the inability of the private sector to pick up the slack. These numbers are particularly surprising as the country prepares for the 2012 Summer Olympics in London.
, Coromandel Engineering Company Ltd
Coromandel Engineering Company Ltd., established in 1947, is part of the $4 billion Murugappa Group. One of India’s oldest and most well-respected business houses, …
, Ahuja Group. Redefining Lifestyles.
Produced by Rachel Allen Started by Mr. Jagdish Ahuja over 25 years ago, Ahuja Constructions today is one of India’s leading building and construction …
, Kingdom Tower by Bin Laden Group will be the World’s Tallest Building
All set to overshadow Burj Khalifa, currently the world’s tallest building, Kingdom Tower will be built by the Bin Laden family in Jeddah, Saudi …
, Shapoorji Pallonji.
Delivering Global Icons Produced By Rachel Allen About a century and a half ago, a giant water reservoir was built on the famous Malabar …
, IL&FS Transportation Networks Limited
Company Profile of IL & FS Transportation Networks Limited Produced by Rachel Allen Building Better Networks IL&FS Transportation Networks Limited (ITNL), promoted in November …
, U.S Housing shows Recovery; New Home Sales rise by 11.1%
Following three straight months of declining new home sales, the American housing market displayed a small recovery in the month of March, with an …
, Swim in Bliss – 55 stories high! Marina Bay Sands’ Infinity Pool
One of Moshe Safdie’s “first principles” that form the basis of his design philosophy – “humanizing the megascale” takes on an entirely new dimension …
, Eco-friendly Fake Hills in Beihai, China: MAD Architects
This Chinese firm, with its “MAD”-ly distinct sustainable building designs has managed to carve a niche for itself for sure. MAD Architects’ under-construction Fake …
