©EPA The new head of Petrobras, the Brazilian oil company at the centre of the country’s largest corruption scandal, has pledged to end political appointments to managerial positions in the group. Pedro Parente, the former Brazilian head of agribusiness group Bunge, was confirmed by the government on Thursday night to
MIPIM 2016: The global ageing population will drive real estate transaction volumes to surpass $1tn (£704bn) globally by 2020, up from $700bn in 2015, according to a new report released today by JLL at MIPIM. Institutions are also set to increase their market share, which currently sits at 20%, driven
As outlined in a new set of guidelines for procurement (as put together by Sajid Javid, Business Secretary), areas of corporate social responsibility and economic accountability are to be placed on the shoulder of key, large-scale public sector bodies. To include organisations such as the NHS, Highways England and Network
In the Deloitte Best Managed Companies Awards Programme, LED Group ROBUS has now been announced as one of the best managed organisations in Ireland, being recognised in the awards last month at the awards’ gala dinner. As one of 16 organisations from across Ireland awarded the status for the first
As highlighted in a recent survey by Infomentum, it has been reported that greater than a third of responses have indicted towards the importance of businesses offering more flexible working packages to ensure their continued competitiveness. In fact, 40% of respondents expressed a direct interest in flexible work situations, allowing
In a new piece of research put together by Gocompare, it has been highlighted that double glazing and also central heating presently sit at the fore of the traditional homebuyer’s list for must-have property features; then following these come secure doors, windows and a garden. Other key areas of concern
In recent construction news, Willmott Dixon has successfully won a contract with the London Borough of Havering to develop a new skating rink and swimming baths in the centre of Romford town. Having very recently completed greater than £100m worth of municipal leisure facilities over the past 6 months, the
Offering consulting engineers with the opportunity to provide clean and safe water to local communities, a new loyalty programme, Waterdrop, has been announced by Xylem to provide a “once in a lifetime” opportunity for those with a responsible mindset. As has recently been reported by water.org, there are a staggering
The construction industry continues to be defined by collaboration; the length of the supply chain often proves critical when it comes to contractors’ ability to carry our quality workmanship, and in a safe and conscientious manner. Adept in design, construction, installation and maintenance, appropriate across industries, Alliance Group Solutions quickly
By Leila Glen at Fast Sale Today Virtual Reality is a growing trend; spanning numerous sectors from gaming to media and most recently adult pornography, it’s no surprise that the property industry, too, is taking advantage of this technological development as a way of marketing luxury property. As property giants
©EPA The new head of Petrobras, the Brazilian oil company at the centre of the country’s largest corruption scandal, has pledged to end political appointments to managerial positions in the group. Pedro Parente, the former Brazilian head of agribusiness group Bunge, was confirmed by the government on Thursday night to lead Petrobras in what is being greeted as another market-friendly move by Brazil’s interim president Michel Temer. More On this topic IN Oil & Gas “Michel Temer gave a very clear orientation . . . There will be no political appointments in Petrobras,” Mr Parente told reporters after his appointment as chief executive. “This greatly facilitated my decision [to accept the job offer].” The appointment of the experienced businessman, who has also served in numerous bureaucratic and ministerial roles in other governments, follows the placement of other market-tested figures to senior roles in Mr Temer’s economic team. The interim president, who came to power following the suspension of leftist president Dilma Rousseff in an impeachment process last week, has pledged to implement a more investor-friendly government to revive Brazil’s flagging economy. Many blame the scandal at Petrobras, in which former executives conspired with politicians and contractors to extract billions of dollars of bribes and kickbacks from the company, on the former ruling coalition’s practice of placing political appointees in the group. These appointees were given the task of siphoning funds out of the company to benefit their political masters. Members of Mr Temer’s Brazilian Democratic Movement Party, the PMDB, were intimately involved in that practice as former coalition allies of Ms Rousseff’s ruling Workers party, according to the Petrobras investigation. Mr Parente will replace at Petrobras a handpicked appointment of Ms Rousseff, Aldemir Bendine, the former head of Banco do Brasil, Brazil’s largest state bank. He was brought in to stabilise the company, which nearly suffered technical bankruptcy after the scandal forced it to delay the release of its 2014 accounts. Mr Parente’s challenge will be to reduce the company’s gross debt, which at R$450bn ($126.3bn) at the end of March is estimated to be the largest of any oil company in the world. The accumulation of the huge debt pile followed Petrobras’s attempt to pursue a vast capital expenditure programme even as the corruption scheme was undermining the quality of this investment and the government was suppressing fuel prices to control inflation. Government requirements for Petrobras to use expensive local equipment in its investments and to be the sole operator of giant offshore oilfields further undermined its balance sheet. The drastic fall in oil prices was the final straw, analysts said. Michel Temer gave a very clear orientation . . . There will be no political appointments in Petrobras – Pedro Parente Moody’s Investors Service said the company had enough cash to see it through this year. But if planned asset sales fell through, it could need government recapitalisation equivalent to 2 per cent of Brazil’s gross domestic product. “A need for sovereign support could arise starting in 2017 if the company is not able to sell assets for $14.1bn in 2016 and $21bn in 2017, as it plans,” Moody’s said. Aside from Bunge, Mr Parente is chairman of the Brazilian stock exchange, BM&F Bovespa. He sat on Petrobras’s board in the 1990s under former president Fernando Henrique Cardoso, who was credited with opening up Brazil’s oil sector. Mr Parente, 63, also served as a chief of staff to Mr Cardoso. Copyright The Financial Times Limited 2016. You may share using our article tools. Please don’t cut articles from FT.com and redistribute by email or post to the web. Source link
MIPIM 2016: The global ageing population will drive real estate transaction volumes to surpass $1tn (£704bn) globally by 2020, up from $700bn in 2015, according to a new report released today by JLL at MIPIM. Institutions are also set to increase their market share, which currently sits at 20%, driven by the need to cater for the ageing global population’s investment requirements. The major influencers in this trend are set to be international investors, with cross-border activity expected to exceed 50% of all investment activity by 2020 to over $500bn annually, with the biggest increase coming from capital moving between the regions. David Green-Morgan, global capital markets research director, JLL, said: “By 2050 there will be more people over the age of 55 than the entire population of the world in 1950. This demographic impact will have a profound effect on real estate investment strategies with the amount of private equity capital targeting direct real estate set to increase by over 500%.” Real estate investment markets have witnessed several new trends over the last 10 years as the sector has become global, helped by the asset class’s stable income stream and the attraction of diversified portfolios, lower risk and a hedge against inflation. The definition of mainstream real estate investment has widened considerably and now includes healthcare, aged care, student housing, residential development, public and private real estate debt and the establishment of a multifamily sector outside of the United States. The alternatives real estate sector has emerged as a bright spot of activity and opportunity in an investment landscape beset by low yields and volatile returns. Allocations have grown rapidly, with 2015 seeing a record-breaking £15bn in transactions in the UK alone – representing around 25% of all commercial real estate investment, up from less than 10% five years ago. To send feedback, email amber.rolt@estatesgazette.com or tweet @amberrolt or @estatesgazette Click here for all the news, views and analysis from MIPIM 2016 Source link
As outlined in a new set of guidelines for procurement (as put together by Sajid Javid, Business Secretary), areas of corporate social responsibility and economic accountability are to be placed on the shoulder of key, large-scale public sector bodies. To include organisations such as the NHS, Highways England and Network Rail, the guidance will see responsibility for social and economic impacts laid upon such organisations for the importing of steel; instead, encouraging the use of British steel. To be applied to all projects greater in value than £10m, clients will also be expected to look at other core areas of corporate social responsibility such as: carbon emissions, sourcing standards, the transportation of materials abroad, as well as areas of social importance such as health and safety – specifically for the staff of the suppliers themselves. As such, those organisations successful in securing public sector contracts will then also need to promote steel requirements direct to UK-based producers so as best to ensure that British businesses are provided with ample opportunity to both compete for, and secure supply contracts on an equal playing field. The guidelines themselves are expected to bring a level of assurance to the continuity of the UK steel market, allowing those organisations in the sector to better tap into the colossal £300bn expected to be spent on the major UK infrastructure developments already highlighted for across the country over the next few years. The announcement itself follows swiftly after Tata Steel’s expression of interest in selling its UK businesses, which presently includes the biggest steel mill in the country; something which heralded great concern for the future prosperity of the wider industry. Sajid Javid explained: “By changing the procurement rules on these major infrastructure projects, we are backing the future of UK steel – opening up significant opportunities for UK suppliers and allowing them to compete more effectively with international companies.”
In the Deloitte Best Managed Companies Awards Programme, LED Group ROBUS has now been announced as one of the best managed organisations in Ireland, being recognised in the awards last month at the awards’ gala dinner. As one of 16 organisations from across Ireland awarded the status for the first time this year, an extended qualification and judging process was pursued to ensure that entire business performance was assessed – in effect, bringing a great deal more weight to the status. The programme itself exists to recognise those organisations working within Ireland, as well as Irish companies who are able to offer exemplary standards of performance and service. With the total network of those companies deemed “Best Managed” now playing host to some 47,000 employees across Ireland, those organisations now representing the awards, and Ireland itself, sit on a turnover of circa €10bn; a considerable proportion of the wider market. Of course, highlighting the competencies of those companies deemed “Best Managed” is the success of these same organisations over recent times, and in this field, LED Group has successfully achieved a growth in turnover of circa 30% over the last 12 months, with the company still yet having considerable plans for further growth and success within both the national and international market. Core to these expansion plans will prove to be the company’s 2020 financial plan, whereby LED Group has stress-tested plans for its future, with areas of the business pinpointed as areas where considerable upskilling can be enjoyed to push performance further. Yet, highlighting the company’s success thus far, LED Group Founder and Director, Michael Slein explained: “The Best Managed Companies programme forced us to look in great detail at how we conduct our business across all areas and has helped us to make significant improvements to our 2020 plan.”
As highlighted in a recent survey by Infomentum, it has been reported that greater than a third of responses have indicted towards the importance of businesses offering more flexible working packages to ensure their continued competitiveness. In fact, 40% of respondents expressed a direct interest in flexible work situations, allowing for work to be completed at locations not limited to the traditional office format. Yet, despite this level of interest in doing so, circa 51% explained that they have not been granted permission to have flexible hours – attributed to the fact that many (57%) have a lack of trust from their employer in their ability to do as effective a job if not working within the office itself; this, of course boiling down to the concept of difficulty managing those not physically present. And while employers have been keen to push stringent working hours, the resulting circumstance isn’t always as such. Acas explained that, in some situations it has actually resulted in a circumstance whereby those with children opt to ring in ill when there are childcare issues, as opposed to proposing the idea of flexible working situations – a factor leading to a direct rise in the number of absences and a drop in overall productivity. There really is a mixed argument for the ability to work effectively at home. With the evolution of modern technology and mediums of information communication, there certainly is the potential for employees to be able to complete many office-related roles out of the office; but this is only in theory. In practice, only 1.5m workers around the UK work from home, and while much of this may be due to tradition holding employers back, the very concept of managing those not present, or even managers themselves no being present, is a key concern for many traditional businesses considering flexible working.
In a new piece of research put together by Gocompare, it has been highlighted that double glazing and also central heating presently sit at the fore of the traditional homebuyer’s list for must-have property features; then following these come secure doors, windows and a garden. Other key areas of concern for homebuyers are that of broadband single, which is of no real surprise given the improved reliability on cloud services and internet access for all manner of personal or professional use – yet it has been surprising to note that this actually comes before finding schools with high ratings, which has always traditionally been one of the most important concerns. Additionally, off-road parking came above that of garages, and period features behind that of a large living room for more comprehensive entertainment fittings (such as a large flat-screen television). Surprisingly, only 15% now rated the provision of a good, local school as entirely essential in securing a new home, and instead have been focusing on more core areas of capability within the property itself – areas such as more considerable bathroom and showering facilities. Yet, as highlighted in those interests at the top in the list, it is very promising to see areas of energy efficiency sitting very high up on the list. In fact, 53% of people highlighted the importance of energy efficiency measures, such as cavity wall insulation and 74% highlighted the importance of double glazing. This consideration of something which does intrinsically effect the environment in the long-term, is certainly a good sign from the perspective of pushing the environmental envelope yet further. In addition, 79% of individuals commented on central heating being their number one priority, with gardens at 71%, secure doors and windows being at a notable 70%, off-road parking then sitting at 58%, and baths being at 57%.
In recent construction news, Willmott Dixon has successfully won a contract with the London Borough of Havering to develop a new skating rink and swimming baths in the centre of Romford town. Having very recently completed greater than £100m worth of municipal leisure facilities over the past 6 months, the news comes to build upon Willmott’s recent success here, with the Romford contract sitting at a value of a further £25m. For the project, Willmott Dixon is working alongside Saunders Boston, Architect, with the view of completing the project in the early stages of 2018. The facility itself is designed to have an eight lane competition swimming pool, in addition to a 56m x 26m ice rink for the London Raiders and an additional fitness suite. In addition, other notable facilities confirmed for at the venue will also be a beginner swimming pool, steam rooms and a sauna, a fitness and health studio, a gym, a café and even a dance studio; this proving to be quit the comprehensive offering of all-round sports and fitness for the locality. Highlighting the company’s perspective on the project, Chris Tredget, Regional Managing Director of Willmott Dixon gave an enthused view as to the contract win, explaining how it will allow for the company to deliver a “real legacy” for the community. “We have seen how much effect leisure schemes have on local prosperity and also generating income for councils as people flock to use the facilities,” he explained. As such, it is predicted that the facilities will bring a great deal of potential for the Romford and the surrounding areas. Also nodding to the project, Roger Ramsey, Havering Council Leader commented on the ambitious nature of the project and the delight of the council to be working alongside Willmott Dixon to provide such an important project with great potential for the area.
Offering consulting engineers with the opportunity to provide clean and safe water to local communities, a new loyalty programme, Waterdrop, has been announced by Xylem to provide a “once in a lifetime” opportunity for those with a responsible mindset. As has recently been reported by water.org, there are a staggering number of individuals who die each year as a result of diseases attributed to drinking water and poor levels of sanitation sits – 842,000 per year, in fact (circa 2,300 each day). In support of resolving this concerning issue, Waterdrop has been brought to the market as a means by which consulting engineers can contribute to bringing clean water to local communities, simply through their traditional daily work. This, most specifically, is done through the collection of “water drops” which are rewarded through the leaning, selection and specifying of Xylem services and products in CBS applications. These drops are then translated into contributions made by Xylem into the construction of new water towers, thus providing access to those without the proper water provisions. In total, each “water drop” constitutes an investment of $1 into this. And although this may seem somewhat like a drop in the ocean, the opportunity for consulting engineers to make a difference together, and act on a moral and ethical high-ground is there, with Waterdrop. Most recently, Xylem also undertook its very first volunteer trip for Waterdrop, with the company taking fourteen volunteers from Germany, France and the UK over to the Philippines for the construction of water towers at elementary schools, serving just shy of 1,000 young people, families and the wider community. While the work undertaken in building the towers was expectedly difficult, the opportunity to make a difference is one difficult to avoid, and volunteers also worked to educate children on the importance of the supply of clean water.
The construction industry continues to be defined by collaboration; the length of the supply chain often proves critical when it comes to contractors’ ability to carry our quality workmanship, and in a safe and conscientious manner. Adept in design, construction, installation and maintenance, appropriate across industries, Alliance Group Solutions quickly puts to rest the age-old dilemma and, by maximising its construction capabilities, offers clients minimal risk. With three specialist strands dedicated to contracting, flood defence and consultancy, the Kirkby-in-Ashfield based company is well-versed in the interdisciplinary approach and, defined by its plurality, can effectively carry a project from inception to sign-off. With an array of services, Alliance Group Solutions is capable of a great many feats and perhaps adds the most value as an end-to-end service provider. It’s with the interaction and collaboration between each of its distinct, subsidiary businesses that the company is able to deliver on quality as well as cost. With quality and cost the principal deciding factors for any client, Alliance Group Solutions continues to attract a great variety of customers in both the public and private sector, on a one-off and long-term framework agreement basis. For clients looking for flexibility and cost competitiveness, there is little to rival the company’s spectrum of services and, it’s with that, Alliance Group Solutions secures contracts with major, blue chip organisations and high profile clients. A recent project saw the company work with a client working on behalf of the Ministry of Defence (MoD), its raft of services adding significant weight to its initial contract. John Mattinson, Marketing and Development Director at Alliance Group Solutions details further: “What began as a contract centred on a vehicle wash facility subsequently became a showcase of just what we’re capable of. In the first instance, we had to meet a number of challenging criteria to win the contract, and were charged to ensure the site was serviced to the highest degree. The contract also incorporated major water and drainage construction and saw us conduct lighting installation work, install interceptors on the vehicle wash, a waste water treatment plant and create a large, vehicle manoeuvring facility to provide better access and mobility for the client’s heavy-duty vehicles. Worth £750k, the job also allowed us to flex our consultancy muscles and make use of the new surveying technologies we’ve recently developed.” Indeed, over the last six months, Alliance Group Solutions has developed in-house surveying services and, with the aid of pioneering software, is now equipped to carry out land, property-level, flood, topographical and ground-penetrating radar (GPR) surveys. This latest addition comes alongside the company’s prolonged investment in highway design and terrain modelling software as well as hydraulic modelling software, developments which have seen Alliance Group Solutions go from strength to strength and the company now boasts a breadth of consultancy services, including: project management, procurement and technical reporting, cementing its lead in project delivery. Committed to minimising partnership with sub-contractors from the very beginning, Alliance Group Solutions has only solidified its identity as a one-stop-shop further which provides both competitive edge and significant advantage to clients: “Our ability to deliver a total project without recourse to third parties allows us to control quality as well as ensure our strict codes of practice are being adhered to. For us, health and safety will always come first. One accident, serious or worse, can spell the end of a company as well as being totally unacceptable from a people point of view. By taking on a whole job, we prevent the risks associated with interfacing and operating to multiple standards, and require significantly less operatives on site therefore reduce the opportunity for accidents to happen.” In rare cases where the company works alongside others (during projects that require specialist services that Alliance Group Solutions is unable to support), partners are fully-briefed from the outset, undergo induction, are provided daily instruction, and are audited by the group’s site management team. Also vetted at a procurement stage, third parties are considered against Alliance Group Solutions’ health and safety and environmental standards, alongside proposed costs. Despite undergoing major investment, diversification and expansion over the years, Alliance Group Solutions’ dedication to safe contracting has remained and the company has retained OHSAS 18001 accreditation and membership with CHAS. Though, by and large, expressing its will to do better by its operatives, membership with the leading health and safety association has, too, rapidly sped up the tendering process and bestowed the company nationally-recognised esteem. “The robust framework and criteria you have to meet make it a badge of honour for contractors like ourselves”. “With the support of accreditation, we’re able to come into our own during bidding. All our investment is geared toward penetrating the marketplace and membership with CHAS is very much a part of that drive.” With a holistic approach to service delivery, Alliance Group Solutions continues to demonstrate its understanding of the market and regularly outstrips rival companies on account of its all-encompassing capacity, each stage imbued with quality and transparency. Enjoying organic growth, the company is looking to widen its customer base and, as it does so, will look to increase its expertise. John Mattinson states “We are a growing company working up and down the country across a great range of projects”. “There are a number of opportunities to come and join us for people at all stages of their careers, particularly new trainees, apprentices, graduates and experienced site operatives. People are our biggest asset and, for anyone as excited about the industry as we are, the message is very much to come and talk to us.”
By Leila Glen at Fast Sale Today Virtual Reality is a growing trend; spanning numerous sectors from gaming to media and most recently adult pornography, it’s no surprise that the property industry, too, is taking advantage of this technological development as a way of marketing luxury property. As property giants including Savills launch virtual reality property tours at their London head office, it is only a matter of time before other’s follow suit; ‘Open House’ days will become a thing of the past as virtual viewings offering multi-sensory tours become the new normal. According to a survey by The Future Laboratory, when buying a house the use of new technological advances such as drones, touching gloves and – of course – virtual reality headsets, will be rife. So How Exactly Does it Work? According to Savills, “A property is filmed using a mixture of laser scanning and 360 degree capturing equipment. The images go through a post-production process and are delivered via a HMD which tracks the user’s head movements and shows each eye a slightly different image, giving the illusion of being in a 3D space. Soundscaping is added at certain points of the tour for an additional sense of presence. The user is then able to ‘move’ from room to room and out into the garden via a number of hotspots.” Virtual Reality tours work particularly well in the prime London market due to the fact that a large amount of foreign investors – who would be otherwise unable to view the property – are able to do so from whatever location they are based in at whatever time they have a moment spare. It adds a huge element of convenience to property investment; the use of VR in property is already a $1bn industry globally, and Goldman Sachs estimate that is set to treble by 2020. Off-Plan Developments For those developments that are in the process of construction, virtual reality tours are a particularly useful selling tool, helping clients to envisage what their property will look and feel like once it is complete. Georgia Siri, Battersea Power Station Development Company’s UK sales director says, “This experience offers our visitors the ability to step into this new world for the first time and imagine really living or working there, several years before completion.” Virtual Open House An open house tends to be a tool used in order to speed up the sales process, by getting as many people as possible in to view a property in a given timeframe – but space and number of bodies is always going to be an issue. Enter the “Virtual Open House” phenomenon. Crowding isn’t an issue when individuals are essentially viewing the property on a film through a pair of lenses; a home buyer can expect thousands of property views in one day. A further advantage is the wider audience, from a larger circumference around the property who will be able to view the property without having to even step food inside – and more potential buyers almost always means a quicker sale. Virtual Reality Taken One Step Further In true American style, the US have taken Virtual Reality property viewings a step further by employing some unusual tactics to make their property stand out. Don’t be surprised if you see a Hollywood star taking a dip in the pool or pounding the treadmill in the midst of your virtual inspecting of a property; vendors are hiring actors to take part in the filming of their homes. Future Developments As a rule of all things technology, innovation never stops and inventors are always looking for ways to advance and grow their ideas. Virtual Reality is no exception as virtual sense of smell, virtual touch and even virtual chat with your builder via hologram are all currently under development. Moreover, “Virtual Makeovers” are said to be the next step in this version of augmented reality, whereby potential property purchasers will have the ability to re-furnish and re-decorate the house they are considering making their own. They will be able to choose everything from the colour of paint on the walls to the furniture and will even be given the option to knock down virtual walls and re-design the properties floorplan just as they would like to do if they bought it. Robbie Grant property expert at Fast Sale Today says: “Being able to see a property without actually having to go and see it is a huge deal for property vendors and purchasers alike. In this age of increased busyness, convenience is key.” Do remember though, if you happen to see George Clooney shaking a cocktail on your virtual travels, he probably doesn’t come with the house…
