Tag: Construction

Cresset Diversified QOZ Fund Announces Loan Closing and Construction Start for Investment in Denver

CHICAGO–(BUSINESS WIRE)–Cresset Partners and Diversified Real Estate Capital announced today the loan closing and construction start for the Cresset Diversified QOZ Fund (“Fund I”) investment in the Residences at RiNo multifamily development in Denver, Colorado.

This investment marks the fourth joint venture between Cresset Diversified and Hines, representing over $750 million in opportunity zone developments around the country. Led by Cresset Diversified’s experienced team of real estate, private equity, tax, and legal professionals, Fund I invests in institutional-quality, core real estate development projects and focuses specifically on well-positioned urban neighborhoods in high-growth markets like Denver.

Residences at RiNo is a build-to-core multifamily real estate project located in North Wynkoop, a premier master-planned district and is the only available multifamily development site within the master plan which is located in a qualified opportunity zone, just north of Downtown Denver. The property will be an 11-story, mid-rise residential building with

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Online Home Decor Market | Growth of Commercial Construction Industry to Boost the Market Growth

LONDON–(BUSINESS WIRE)–Oct 9, 2020–

The global online home decor market size is poised to grow by USD 83.32 billion during 2020-2024, progressing at a CAGR of almost 13% throughout the forecast period, according to the latest report by Technavio. The report offers an up-to-date analysis regarding the current market scenario, latest trends and drivers, and the overall market environment. The report also provides the market impact and new opportunities created due to the COVID-19 pandemic. Download a Free Sample of REPORT with COVID-19 Crisis and Recovery Analysis.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20201009005402/en/

Technavio has announced its latest market research report titled Global Online Home Decor Market 2020-2024 (Graphic: Business Wire)

The growth of the global real estate and commercial construction industry is one of the key factors driving the growth of the online home decor market. The other significant factor contributing to online home

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EEI Corporation: Digital transformation in construction | Business Chief APAC

NORWICH, England, Oct. 8, 2020 /PRNewswire/ — BizClik Media Group (BMG), announced today the release of Business Chief APAC October 2020 edition.

October’s cover features Lauro Matias, CIO of EEI Corporation. Matias discusses the technologies involved in its digital transformation, as well as its response to COVID-19. “For me, digital business strategy is about the extension of a company’s physical reality and capabilities using digital technology,” comments Matias.

In addition to Matias, we speak to Alan Chiew, Executive Director and Head of Technology, Digital Channels at Standard Chartered Bank; James Haslam, CFO at ELMO Cloud HR & Payroll; and Andrew Duncan, Partner and UK Head at Infosys Consulting.

“As the pandemic continues to disrupt operations and objectives, the skills required to maintain business continuity are likely to remain in flux. Consequently, we will need to equip our employees with an all-purpose skill set – one

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EEI Corporation: Digital transformation in construction

NORWICH, England, Oct. 8, 2020 /PRNewswire/ — BizClik Media Group (BMG), announced today the release of Business Chief APAC October 2020 edition.

October’s cover features Lauro Matias, CIO of EEI Corporation. Matias discusses the technologies involved in its digital transformation, as well as its response to COVID-19. “For me, digital business strategy is about the extension of a company’s physical reality and capabilities using digital technology,” comments Matias.

In addition to Matias, we speak to Alan Chiew, Executive Director and Head of Technology, Digital Channels at Standard Chartered Bank; James Haslam, CFO at ELMO Cloud HR & Payroll; and Andrew Duncan, Partner and UK Head at Infosys Consulting.

“As the pandemic continues to disrupt operations and objectives, the skills required to maintain business continuity are likely to remain in flux. Consequently, we will need to equip our employees with an all-purpose skill set – one

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ANALYSIS-Arabtec collapse shakes foundations of Gulf construction business

By Hadeel Al Sayegh and Davide Barbuscia

DUBAI, Oct 7 (Reuters)Just over six years ago, Dubai-listed Arabtec Holding ARTC.DU had investors eating out of its hands.

At a lavish shareholder meeting at Abu Dhabi’s St. Regis Hotel, the contractor that helped build the world’s tallest skyscraper, Dubai’s Burj Khalifa, outlined plans for listings in London, Hong Kong and New York.

Those plans never materialised. After capital injections between 2013 and 2017, management changes, layoffs and rounds of restructurings, Arabtec’s shareholders, which include Abu Dhabi state fund Mubadala, decided last week that the Gulf’s largest listed contractor should file for insolvency.

Arabtec had around $2.75 billion in total liabilities at the end of June, including almost $500 million in bank borrowing.

The liquidation, likely to lead to further layoffs in a company which had a 40,000 strong workforce at the end of last year, marks the end of

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Arabtec Collapse Shakes Foundations of Gulf Construction Business | Investing News

By Hadeel Al Sayegh and Davide Barbuscia

DUBAI (Reuters) – Just over six years ago, Dubai-listed Arabtec Holding

had investors eating out of its hands.

At a lavish shareholder meeting at Abu Dhabi’s St. Regis Hotel, the contractor that helped build the world’s tallest skyscraper, Dubai’s Burj Khalifa, outlined plans for listings in London, Hong Kong and New York.

Those plans never materialised. After capital injections between 2013 and 2017, management changes, layoffs and rounds of restructurings, Arabtec’s shareholders, which include Abu Dhabi state fund Mubadala, decided last week that the Gulf’s largest listed contractor should file for insolvency.

Arabtec had around $2.75 billion in total liabilities at the end of June, including almost $500 million in bank borrowing.

The liquidation, likely to lead to further layoffs in a company which had a 40,000 strong workforce at the end of last year, marks the end of an era of plentiful

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Fort Worth firm acquires construction business management software group

Fort Worth-based ECI Software Solutions, a leader in cloud-based business management solutions, on Oct. 5 announced that it has acquired BOLT Software, a cloud-based construction business management solution.
BOLT will become part of ECI’s Residential Home Construction Group, joining MarkSystems (ECI’s flagship ERP for residential home builders); Lasso CRM (ECI’s CRM solution built specifically for the homebuilding industry, including lead management, automated sales processes, email marketing and reporting capabilities); LotVue (ECI’s cloud-based lot inventory management system); and BuildTools (ECI’s cloud-based project management system for custom homebuilding and remodeling).

Built by the trades for the trades, BOLT is a SaaS solution that simplifies project management, scheduling and estimating for new home construction subcontractors. BOLT will complement MarkSystems’ Internet Toolkit (ITK) functionality. Where ITK helps builders communicate key details with their subcontractors, BOLT will help those subcontractors truly manage their teams: from rescheduling due to unforeseen delays to scheduling out multiple crews

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Rishi Sunak insists top priority is jobs; UK construction growth accelerates – business live | Business

Good morning, and welcome to our rolling coverage of the world economy, the financial markets, the eurozone and business.

Britain’s Covid-19 jobs crisis is building day by day, with cinema group Cineworld putting 5,500 staff out of work from Thursday as it shuts its screens.

And faced with this surge of unemployment, chancellor Rishi Sunak is playing down suggestions that taxes will be hiked soon – pledging to protect jobs. Critics, though, say the government still isn’t providing the support needed.

Speaking on Sky News this morning, Sunak insists that his “overwhelming focus” at the moment trying to protect and support as many jobs as possible.


What’s happening in our economy is significant and severe. Many people are losing their jobs.

So the focus of all my attention in the short term is doing what we can to support as much employment as possible.

Yesterday, Sunak claimed there was a

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San Miguel Boss Ang to Start Airport Construction, Eyes Airline

(Bloomberg) — San Miguel Corp. will start work this month for a Philippine airport that’s scheduled to start servicing Manila in five to six years, President Ramon Ang said, adding he’s planning to return to the airline business by then.

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The Philippines’ largest company expects the airport in Bulacan province to initially have two runways when it opens in five years, and will be expanded to four a year after, Ang said in a video call with reporters on Tuesday.

Elaborating on his plans for an airline, he said six years from now, demand for air travel would be back to normal while costs would be lower. San Miguel briefly entered commercial aviation in 2012 when it bought into Philippine Airlines Inc., but eventually sold the stake back to Lucio Tan in 2014.

Key Insights

Sales at most of San Miguel’s businesses, including oil refiner Petron Corp. and

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Small Business Jobs Index Increases Slightly Driven by Gains in the Northeast and the Construction Industry

ROCHESTER, N.Y., Sept. 29, 2020 /PRNewswire/ — The latest Paychex | IHS Markit Small Business Employment Watch shows a slight increase in hiring from the previous month, rising 0.06 percent nationally and 0.36 percent in the Northeast. The national jobs index stands at 94.44, remaining in line with April’s reading of 94.63. Small business wage growth slowed to 3.14 percent in September, while growth in weekly hours worked maintained a solid pace, up 0.65 percent from last year. Weekly earnings growth held steady at 3.86 percent in September.

“While it was positive to see a slight improvement in September, the national jobs index and small business hiring has remained largely flat over the past several months,” said James Diffley, chief regional economist at IHS Markit.

“We’re starting to see signs of improvement in specific regions, including the Northeast, which was hit particularly hard in the early stages of

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