Latest news with #landreclamation
South China Morning Post
3 days ago
- Politics
- South China Morning Post
Vietnam ramping up expansion of South China Sea outposts: Chinese think tank
Vietnam has continued to expand land reclamation on its occupied features in the South China Sea , with military-related construction of new ports and airstrips, according to a Chinese think tank. Advertisement Citing satellite images, the Beijing-based South China Sea Probing Initiative (SCSPI) said on Friday that Vietnam had reclaimed nearly 0.78 sq km (0.3 square miles) of land in the past six months on 11 features in the contested Spratly Islands, which are known as the Nansha Islands in China. In total, Vietnam had reclaimed over 8.5 sq km of new land on these features since October 2021, the think tank added in an English-language social media post. China and Vietnam have rival territorial claims in the South China Sea, particularly over the Spratly and Paracel islands. The reclamation focused not only on expanding the land area but also the construction of military-related facilities, such as harbour basins, wharves and runways , the think tank said in a separate post on Chinese social media. Advertisement These include an airstrip on the Spratlys' Barque Canada Reef that is expected to be about 3,000 metres (9,843 feet) long when completed. Sandbars that could accommodate runways had also been built on four other Spratly features: Pearson Reef, Tennent Reef, Ladd Reef and South Reef, the SCSPI said. South Reef is located just 50km (31 miles) north of the China-controlled Subi Reef.
South China Morning Post
3 days ago
- General
- South China Morning Post
Vietnam ramps up expansion of South China Sea outposts: think tank
Vietnam has continued to expand land reclamation on its occupied features in the South China Sea, with military-related construction of new ports and airstrips, according to a Chinese think tank. Citing satellite images, the Beijing-based South China Sea Probing Initiative (SCSPI) said on Friday that the Southeast Asian nation had reclaimed nearly 0.78 sq km (0.3 square miles) of land on 11 features in the contested Spratly Islands, known as the Nansha Islands in China, over the past six months. China and Vietnam have rival territorial claims in the South China Sea. In total, Vietnam has reclaimed over 8.5 sq km of new land on these features since October 2021, according to a social media post by the think tank. Vietnam has also stepped up construction of military-related facilities, such as harbour basins, wharves and runways , the think tank said in a separate post on Chinese social media. It said Vietnam was building an airstrip on Barque Canada Reef that is expected to be about 3,000 metres (9,843 feet) long when completed. It added that sandbars that could accommodate runways had also been built on four features, including Pearson Reef, Tennent Reef, Ladd Reef and South Reef.
Forbes
21-05-2025
- Business
- Forbes
Reclaimed Land Retail Scheme Revs Up For Weekend's Monaco Grand Prix
Mareterra adds around 3% to Monaco's land mass. Mark/Romuald NICOLAS As Formula One's top drivers prepare to speed around the famous two-mile street circuit of the Monaco Grand Prix on Sunday for 78 laps, they will be racing across a European Principality that has just got a little bigger. The latest development to rise up within the upscale Mediterranean city-cum-country, synonymous with super yachts, French glamor and high rollers has been built on reclaimed land that has upped Monaco's land mass by around 3% and includes stores, F&B, art galleries and apartments. Over the course of this Formula One weekend, more than 200,000 people will join the Principality's residents, flooding in to spend an estimated $100 million before, during and after the event. Monaco – officially the world's second smallest country (after Vatican City) at less than one square mile – has only really been able to grow in the past through land reclamation, as the Principality has turned toward the sea to expand its territory, notably the Fontvieille district, developed between the 1960s and 1990s. Built on reclaimed land along Monaco's southwestern coast, Fontvieille added 22 hectares to the country and now houses residential buildings, a stadium, commercial zones, plus a marina. More recently, Monaco embarked on what was originally called Portier Cove, with the real estate development now known as Mareterra, a scheme which started in earnest in 2016 first with reclamation adding 6 hectares of land, then real estate. With fit-outs nearing completion, the project features about 125 apartments, nearly 43, of retail and an extension of the Grimaldi Forum, Monaco's congress center, plus public space and piazzas. It actually could have been bigger. A larger project was originally envisaged just before the global financial crisis and was put on ice but much of the consortia for the original extension came back to the table along with U.K.-based developer Mark. It's recent projects include redevelopment of a major area on the south side of London's River Thames and it owns the company creating Oslo's luxury retail quarter. 'We developed a project in Monaco in 2006, in an area called Jardin Exotique,' Mark CEO Marcus Meijer said. 'So we knew the market a little bit. And in 2016 when we came on board it was a complex process, because you have to create these huge concrete cubes and a massive steel frame that you can pour the concrete into to create each one.' The frames were built in Poland and shipped by a barge through the European river network to Marseille's port on France's southern coast for the contractor to pour the concrete to create 18 cubes. Once the base was in place, it took about another three years for the real estate, which completed in fall 2024, with seven of the 10 dining units assigned, from a coffee shop to fine dining. Two art galleries have also committed, while pop-ups will appear in the other units this summer along a marina-front promenade. 'Monaco is seasonal, although it's not as seasonal as some other places in the south of France. But definitely the spring to late summer is by far the busiest, when you have all the tourists coming in by road, boat and cruise ships,' Meijer added. Among the first boutiques to open is luxury Italian menswear and bespoke tailoring retailer Stefano Ricci, while the scheme's flagship restaurant is British cuisine inspired Marlow and 99 Sushi Bar will open soon. It fits within a Monaco retail offer that is home to an impressive concentration of global luxury brands. In the Carré d'Or district near the Casino de Monte-Carlo, there are flagship boutiques from Hermès, Chanel, Dior, Louis Vuitton, Gucci, Prada, Cartier, and Bulgari, among others, while upscale mall Metropole Shopping Monte-Carlo hosts around 80 boutiques and Le One Monte-Carlo has a mix of luxury fashion, jewelry, and fine dining. 'Mareterra is one of the few open public spaces. Monaco is super densely populated, and we think this will increasingly become a hub for Monaco social life,' said Mark CMO Matthew Ammirati. 'This marina has a completely different feel to the port, where people can stroll, you can hear the water, you can see the boats, it creates a place that's much more in tune with where Monaco sits on the Mediterranean.' This weekend Monaco Grand Prix attendees will get their first taste of what's on offer.
Zawya
13-05-2025
- Business
- Zawya
Egypt: SODIC inks revenue share agreement with Rula for Land Reclamation
Arab Finance: Sixth of October for Development and Investment Co. (SODIC) has signed a revenue share agreement with Rula for Land Reclamation for the development of a 1,000-feddan plot in New Sphinx City, located in West Cairo, as per a disclosure. The project, once completed, is expected to generate over EGP 353 billion in sales. Under the terms of the agreement, Rula for Land Reclamation will receive a 21% share of the project's revenues, while SODIC will retain the remaining 79%. This new agreement significantly expands SODIC's land holdings, doubling the company's undeveloped land bank from 4 million square meters to over 8 million square meters. © 2020-2023 Arab Finance For Information Technology. All Rights Reserved. Provided by SyndiGate Media Inc. (
