Latest news with #BuildingResearchEstablishmentEnvironmentalAssessmentMethod
Yahoo
01-07-2025
- Business
- Yahoo
Skanska invests $76.59m in Czech Republic's new residential project
Project development and construction company Skanska has announced a Kč 1.6bn ($76.59m) investment in a new residential project in the Czech Republic. The construction, part of the D.O.K. Radlice project, valued at Kč 1.0bn, is set to be recorded in the company's European order intakes for the second quarter of 2025. This project in Prague's Radlice district will consist of 177 low-energy apartments across three residential buildings, with one becoming the largest wooden residential building in the Czech Republic. Located near natural monuments and green spaces, the development aims to foster a quiet living environment, complete with a courtyard and playground. The single-phase project's design prioritises sustainability, incorporating green infrastructure to achieve a substantially lower carbon footprint. A preliminary analysis suggests that the wooden structure could halve the volume of concrete typically required and reduce carbon dioxide emissions by up to one-third compared to traditional building methods. The buildings aim to achieve a high rating within the Building Research Establishment Environmental Assessment Method (BREEAM) international sustainability certification. Construction is expected to be completed in 2027. Skanska, with a workforce of approximately 26,500, operates in select markets in the Nordics, Europe, and the US. Last month, the company won a significant contract in the US, valued at $250m, to construct a new parking garage and carry out enhancements at Logan Airport's Terminal E in Boston. This project is part of the Massachusetts Port Authority's Terminal E Renovation and Expansion Program. Additionally, Skanska was awarded a Nkr360m contract by the Gjesdal Municipality in Norway for the construction of the Gjesdal Health Center in Rogaland County. "Skanska invests $76.59m in Czech Republic's new residential project" was originally created and published by World Construction Network, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site.
Yahoo
23-06-2025
- Business
- Yahoo
Veidekke secures contract for environmentally certified building in Norway
Norwegian contractor Veidekke has obtained a contract, valued at approximately Nkr2.3bn ($227.3m) excluding VAT, from Kongsberg Defence & Aerospace (KONGSBERG), a local supplier of defence and aerospace-related systems. The turnkey contract comprises the construction of an environmentally certified building for KONGSBERG. The Utsikten building, located in Kongsberg Technology Park, will span 65,000m² across eight floors and offer around 2,300 workplaces. It is designed to be a hub for technology, innovation, administration, and IT. The project, which has been in development since November 2024, is stated to be a collaborative effort between KONGSBERG, Veidekke, architects, and subcontractors, along with other consultants. Veidekke group CEO Jimmy Bengtsson said: 'This is a huge and important project for a lot of people, locally, nationally and internationally, and it is important for us at Veidekke. We are therefore very proud of the good partnership we have had during the development phase where we have arrived at the functions, solutions and qualities that now allow us to enter into a contract. "We want to thank KONGSBERG for the confidence shown in us and are looking forward to extending the good partnership into the construction phase.' Focusing on the creation of a future-oriented and sustainable building, the development will aim to be certified according to the Building Research Establishment Environmental Assessment Method (BREEAM) Excellent standard and compliant with EU taxonomy and energy class A. Energy-efficient technical systems and sustainable energy solutions are expected to significantly reduce greenhouse gas emissions during both the construction and operational phases. The completion of the building is expected in the first half (H1) of 2028. In addition, Veidekke's unit Veidekke Logistikkbygg received a contract from Oslo Airport City for the construction of an environmentally certified logistics facility, which will be leased to Oslo Fryselager. This turnkey contract is valued at around Nkr125m excluding VAT. The 8,900m² facility is designed to meet Oslo Fryselager's operational needs while providing higher storage capacity. The warehouse will feature automation, prospects for future expansion, and will be certified according to BREEAM-NOR Good. Construction is set to commence this September, with an expected completion in the third quarter (Q3) of 2026. Both the contracts will be registered in Veidekke's order reserve for Q2 2025. Recently, Veidekke was awarded a design-and-build contract by Statnett for the construction of three new substations in Vestland, Norway. "Veidekke secures contract for environmentally certified building in Norway" was originally created and published by World Construction Network, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
The Star
29-04-2025
- Business
- The Star
SCALING UP IN THE UK
GAMUDA Land is scaling new heights in the United Kingdom, expanding its footprint in one of the world's most competitive property markets. The company's diversified portfolio now spans residential, commercial and purpose-built student accommodation (PBSA). Its biggest milestone to date is the RM7bil (£1.2bil) redevelopment of 75 London Wall, a major commercial-led regeneration project in the heart of the City of London district. The project, which broke ground in early 2025, represents Gamuda Land's largest overseas investment and a significant step into the UK's institutional-grade property sector. '75 London Wall is a statement of intent. It's a long-term play that reflects our confidence in the UK market and our ability to compete on a global stage, while staying true to our town-making values,' said Gamuda Land chief executive officer Chu Wai Lune. Upon its completion in September 2027, the 14-storey 75 London Wall will have a net lettable office space of over 450,000 sq ft. It is set to become a Grade-A sustainable top-tier office, targeting three sustainability performance ratings – Building Research Establishment Environmental Assessment Method (BREEAM) 'Outstanding', WELL Core 'Platinum' and National Australian Built Environment Rating System (NABERS) UK 5 Star Design. Diversifying into student housing Alongside its flagship commercial development, Gamuda Land is actively expanding into the PBSA sector. Its latest project at City Wharf in Glasgow, Scotland – a joint venture with Dandara Living – features 492 student beds integrated into a broader mixed-use neighbourhood. The development follows the company's first PBSA in Woolwich, London – a 299-bedroom scheme delivered in partnership with Q Investment Partners. Together, these projects form part of its strategy to deliver 3,000 student beds across key cities in the UK by 2029. Gamuda Land's move into the PBSA sector is backed by solid market and economic drivers, including: > Leader in global education: The UK is home to 15 of the world's top 100 universities, with over 2.2 million full-time students. International student enrolment is outpacing the growth of domestic students. > Persistent supply-demand imbalance: The UK has consistently faced a shortage of student accommodation, highlighting the need for quality student housing. Real estate and investment firm CBRE's analysis reveals a deficit exceeding 350,000 PBSA beds across major university towns, with Greater London alone facing a shortfall of 106,000 beds – a 45% increase since 2017-2018. > Changing rental landscape: The increasingly challenging environment for smaller private landlords, with the 5% additional stamp duty hike on April 1 and tighter rental regulations, will further drive demand to professionally managed, institutional-grade PBSA. The UK real estate market offers a blend of transparency, resilience and institutional interest that aligns with the company's growth aspirations. The PBSA in City Wharf in Glasgow, Scotland, addresses the acute shortage of high-quality student accommodation in one of the UK's most vibrant and undersupplied student markets. PBSA is a structurally resilient and counter-cyclical asset class, underpinned by sustained demand from both domestic and international students. It is also viewed as a defensive investment, less exposed to political cycles or volatility, making it a stable asset for long-term capital. 'The PBSA sector aligns well with our strengths. We're not just building accommodation, we're designing better living environments for students through thoughtful planning, sustainability and community integration,' added Chu. In line with Glasgow's climate targets and planning policies, City Wharf's PBSA is designed with a strong emphasis on sustainability, integrating low-carbon and zero-carbon technologies, including air-source heat pumps, to achieve a BREEAM 'Very Good' rating. Strategic expansion Gamuda Land entered the UK market in West Hampstead Central in North London, a boutique residential development, completed and fully sold in 2024. With West Hampstead, Woolwich, City Wharf and 75 London Wall in its portfolio, the developer is growing its presence with a measured approach, combining high-growth sectors with institutional-grade opportunities. 'Our UK strategy is to build a diversified and resilient portfolio, balancing short and long-term assets, from income-generating PBSAs to value-accretive commercial projects,' said Chu. He added that the company is actively pursuing several more PBSA opportunities across key university cities in the UK. Creating value As a homegrown developer with a growing global presence, the company continues to draw from its experience in master-planning award-winning townships like Gamuda Gardens, Gamuda Cove and twentyfive7 in Malaysia. The same principles – placemaking, sustainability and community building – are now being applied in its projects across Vietnam, Australia and the UK. 'Expanding abroad has sharpened our capabilities and broadened our perspective. 'It gives us valuable insights into evolving lifestyles, regulatory frameworks and urban challenges, which, in turn, strengthen the way we plan, design and deliver our projects back home in Malaysia,' said Chu. Looking forward With ongoing projects in Vietnam, Singapore, Australia and the UK, the developer's international ventures are a core pillar of its long-term growth strategy. To date, it has invested over RM1.91bil (£340mil) in the UK market, with plans to invest a further RM1.24bil (£220mil) as it scales up its presence in high-growth corridors. This expansion is part of Gamuda Land's broader investment blueprint, which includes RM10.5bil in capital deployment over the next five years, and a total projected gross development value of RM26bil across key markets. 'With strong capital commitment, we are steadfast in scaling our long-term presence in the UK with confidence. And we are actively seeking like-minded partners to match equity in these developments. 'The UK is a sophisticated and mature market – one that rewards long-term thinking and quality execution. We believe there's a real opportunity for strategic co-investment that delivers both financial and social returns,' said Chu. Over the next five years, the company is targeting a balanced sales contribution of 40% from Malaysia, 45% from Vietnam and 15% from the UK, Australia and other regions. As Gamuda Land strengthens its UK footprint, its priority remains clear: delivering high-quality, sustainable developments that respond to the country's evolving market dynamics and long-term housing needs. 'As we build our footprint abroad, we're proud to bring the same values and quality we're known for at home,' said Chu. 'It's about creating places that stand the test of time – wherever they are in the world.'
Trade Arabia
06-04-2025
- Business
- Trade Arabia
Japanese firms enter UK office market with new Lendlease deal
Leading Australian integrated real estate group Lendlease has announced that two major Japanese firms - Sotetsu Urban Creates and Yasuda Real Estate - have acquired a 20% stake in 21 Moorfields is a new premium-grade and sustainable office asset in London. Built directly above the Moorgate Underground Station interchange with the Elizabeth Line, in central London, 21 Moorfields is a new premium-grade and sustainable office asset fully let to Deutsche Bank AG (DB) on a 25-year lease. Now home to 5,000 DB employees, the building has achieved leading sustainability ratings, including BREEAM (Building Research Establishment Environmental Assessment Method) Outstanding and LEED (Leadership in Energy and Environmental Design) v3 Gold and was acquired by Lendlease alongside a club of institutional investors. The transaction is in line with Lendlease's strategy to recycle and redeploy investment capital to fund future growth; and introduces two new strategic partners to its international Investment Management platform. Under the terms, Lendlease will retain a five per cent interest in the investment partnership and continue as the investment and asset manager. The transaction reinforces the continuing global appetite for 'next-generation' workspace in London - highly connected, amenity-rich, and environmentally conscious - positioning 21 Moorfields as a valuable asset at the heart of London's business landscape. Justin Gabbani, CEO Investment Management Lendlease, said: "This transaction sees Lendlease introduce new capital partners to the UK market, and highlights the continued appeal of high-quality, well located and sustainable office buildings. It also builds on our network of global partners as we increase scale across our international Investment Management platform." Makoto Sato, the President and Representative Director for Sotetsu Urban Creates, said: "Sotetsu Group is actively expanding overseas, and this investment has enabled it to broaden its business area. We are excited to partner with Lendlease via 21 Moorfields, with its central location, sustainability credentials and secure income stream." Hiroyuki Mori, Executive Vice President and Representative Director for Yasuda Real Estate, said: "This marks a significant step for Yasuda as we enter the UK market. The combination of resilient returns, strategic location, and trusted partners makes this an excellent long-term investment aligned with our global strategy." UK Minister for Investment Baroness Gustafsson said: "Major investment in our real estate market like this is central to getting Britain building again and shows our Plan for Change is working."
