Balfour Beatty clinches HK$3.2bn contract for development in Hong Kong February 23, 2015 Balfour Beatty has clinched a HK$3.2bn (£268m) contract for a joint venture with Gammon Construction for the construction of a major residential development in Hong Kong. It will create 900 residential apartments through the building of seven blocks, alongside retail and recreational facilities. The project, which also involves building a public transport interchange and five footbridges, will [...]
A room with a view: Why Brits are flocking back to Italy’s Lake Como February 19, 2015 It was the Romans who discovered Lake Como, and built their villas overlooking its stunning scenery. Today, the Mediterranean microclimate created by the lake’s waters is enjoyed as much as ever, though many now prefer an apartment in place of a villa. Aside from the views across the lake, and the uniquely benign climate it [...]
Playing by the book February 18, 2015 Annabel Denham talks to CrowdBnk founder and chief executive Ayan Mitra about plugging the SME funding gap and the importance of regulation in a new industry CROWDFUNDING appears to be experiencing an interminable growth spurt. According to Nesta, the UK alternative finance market grew by 91 per cent between 2012 and 2013, and crowdfunding represented [...]
Muhammad Ali teams up with Under Armour for new boxing range February 18, 2015 Muhammad Ali may be 73 years old and 33 years retired, but that hasn’t stopped the boxing icon from being one of the most marketable athletes around. Under Armour has teamed up with the legend of the ring in a multiyear agreement with Ali’s management Authentic Brands Group. Ali’s brand will appear [...]
Neil Kinnock: Mansion tax is just the cost of lunch for the “prosperous” February 18, 2015 Former Labour leader Neil Kinnock has dismissed fears that the so-called mansion tax would hurt the pockets of middle class Londoners, saying it was little more than they spend on lunch. The controversial policy being put forward by the shadow government would see a levy imposed on homes worth more than £2m. The [...]
Estate agent wars: OnTheMarket hits one million mark for unique users three weeks after launch February 18, 2015 Newly launched online property portal OnTheMarket.com said it had its one millionth unique user this weekend, as it continues it battle against the "unfair duopoly" held over the online market by Rightmove and Zoopla. OnTheMarket.com, set up by Agents' Mutual, is backed by estate agents such as Savills and Knight Frank. The rule banning agents from listing properties [...]
Chinese New Year: How the goat could bring some prosperity to China’s struggling economy February 18, 2015 The year of the horse didn't work out too well for China. Growth slowed to its lowest point in two decades, while an over-investment in construction has resulted in too much property relative to demand. The country's leaders have attempted to spur growth on again, with the People's Bank of China cutting interest [...]
Galliford Try record revenue and dividend hike is good news for the UK housing market February 18, 2015 The figures Galliford Try has posted another set of record figures. Pre-tax profits at the housebuilder rose 12 per cent to £42.5m in the six months to the end of December, while revenue soared 35 per cent to more than £1bn. It reduced net debt by £50m. The housebuilder and construction firm has hiked its interim [...]
Galliford Try record revenue is good news for the UK housing market February 18, 2015 The figures It's another set of record numbers for Galliford. Pre-tax profits at the housebuilder were up 12 per cent to £42.5m in the six months to the end of December and revenue soared 35 per cent to more than £1bn. It reduced its net debt by £50m. The housebuilder has hiked its interim dividend to [...]
Tycoon Desmond Bloom makes property market return with £12.5m haul February 17, 2015 A listed cash shell set up four years ago to make acquisitions in the music and media industry has been resurrected, this time with the aim of spending £100m on UK property. Imperial Music and Media, which is run by property tycoon and one-time boxer Desmond Bloom, said yesterday it had bought a portfolio of [...]