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...Dickie said that because Grosvenor was already a commercial developer, funding construction was “already within our risk appetite” and the company could more easily “take a view on pricing that risk”....
...Housebuilders registered a marginal improvement from 49.8 in February to 49.9, a 16-month high, while the commercial construction sub-index rose from 49.0 to 49.9....
...Matthew Pointon, senior property economist at the research company Capital Economics, said commercial construction had “been contracting since September last year as developers wait for the outlook to stabilise...
...The building, part of British Land’s joint venture with Singapore’s GIC at Broadgate, is under construction and due to be completed in 2027....
...S&P Global and Hamburg Commercial Bank’s Germany construction purchasing managers’ index for December showed a sector deep in contraction at the end of 2023 with a “bleak outlook” for 2024....
...office investment to remain sluggish in the next few years, resulting in a 0.2pp drag on fixed private investment growth, which will only be offset modestly by a 0.05pp boost from increasing multifamily construction...
...That can no longer be taken for granted with state-owned China Construction Bank (CCB) taking rare legal action against the troubled mainland developer Shimao Group....
...He added that there were signs of “weakness spreading to civil engineering and commercial work”....
...Yet since the great financial crisis, fears of ecommerce disruption to the grocery business have kept construction in the retail sector subdued....
...UK commercial housebuilders built about a quarter fewer homes in 2023 than the year before, according to equity analysts at Investec, with building rates forecast to be flat in 2024....
...Chris Levesque, TerraPower’s chief executive, told the Financial Times the company would apply for a construction permit from US regulators this month for its reactor, which is cooled with liquid sodium...
...And better planning could cut construction times....
...The toy retailer started life in 1901 in Liverpool when founder Frank Hornby received a patent for his Meccano construction toy....
...About three in five litigants involved in proceedings at London’s commercial courts in the year to March 2023 were not from the UK, according to a study by Portland, a communications company....
...Collaboration across the construction industry is also starting to happen, with property company Grosvenor teaming up with architects and engineers in 2021 to research ways to make construction more circular...
...The City’s efforts to attract big companies come as the commercial property market battles the effects of remote and hybrid working....
...The market is sensibly wary of another small business pioneering a new product in a new market while securing manufacture on a commercial scale....
...The research said commercial banks that disclosed more about green policies also issued more green bonds and agreed fewer new lending relationships with brown borrowers than average....
...A boom in new construction, sales and home prices all accompanied the low interest rate era. With its end, all are in free fall....
...Commercial building, meanwhile, showed signs of stabilisation, rising to 49.5 in October from 47.7 in September, indicating only a marginal fall in activity....
...Meanwhile, the West End of London is seeing higher demand from companies, with vacancy at just 6 per cent....
...Without the money, the two businesses will have no option but to try to sell their assets in an already troubled commercial property market....
...Whitbread continues to benefit from the contraction in independent hotel supply following the pandemic and a lack of new hotel construction....
...The problem is most acute in countries such as Finland, Ireland, Greece and the Baltic states, where more than 90 per cent of loans to commercial property companies are at variable rates or mature in the...
...The tower topped out in 2021, and some residents have moved in, but construction is still ongoing....
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