Resi’s September sun

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Breaking new ground

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Retirement and retail at critical junctures

first_imgThese days, the sector is where student housing was a few years ago. Indeed, many of those who attended Property Week’s Retirement Living conference last week said they thought it had even greater potential than build-to-rent.It is not hard to see why. The UK currently lags way behind the US and Australia, and there is huge scope for growth in both the range of housing offered and the volume. At the moment, lots of different models are being explored. One of the most exciting for real estate investors is the rental model.While there is an assumption that Brits always want to buy, the evidence shows there is also strong – and growing – demand for rented retirement homes. If more people do elect to sell up and downsize to rental property, as predicted, it would open up the market to deep-pocketed pension fund capital and retirement living truly could become the next student accommodation sector growth-wise.However, the positive outlook for the sector is threatened by government policy in a way you can’t imagine student accommodation ever would be. All the government’s efforts are focused on helping first-time buyers and there seems to be nothing to help those at the other end of the housing spectrum age-wise and nothing to incentivise retirement housing developers, even though they are the ones helping free up housing stock by allowing older people to downsize. There is also no acknowledgment from policymakers of the higher costs facing retirement housing developers.The positive outlook for retirement living is threatened by government policy in a way you can’t imagine student accommodation ever would beIn London, four of the biggest players in the market are warning that the situation under the mayor’s new SPG is so bad they will be able to bring forward “few if any” schemes in the capital as long as the guidance is in place.Their concerns need to be addressed if the potential of the sector is to be realised and if the government is serious about tackling a key factor contributing to the housing crisis – the homes that could be freed up if there was something half decent for retirees to downsize to.Retirement living is not the only sector at a critical juncture. At this year’s Mapic international retail property trade show in Cannes, the mood was more upbeat than at the last few shows.Unsurprisingly, there was much talk of cutting-edge tech and the growing importance of leisure and food & beverage provision in a successful retail offer. However, some noted that F&B was not performing as well in the UK as it is in the US.Others pointed out that several brands that had started in London and tried to expand to the regions were failing, while some chains were downsizing. Maybe they should work harder to adapt their offers to the regions. One size clearly does not fit all.Student AccommodationJoin Property Week and CBRE next Thursday for our Twitter debate on one of the biggest issues in the student housing sector: affordability. It is taking place ahead of our must-attend Student Accommodation Conference & Awards on 7 December at NCC Birmingham, tickets for which are going fast, so don’t miss out!Do you have a stake in the UK university sector? Make sure to book your place for Property Week’s Student Accommodation Conference & Awards nowlast_img read more

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Summer Luncheon

first_imgThe Jewish Center of the Hamptons in East Hampton hosted its annual Summer Luncheon on Friday, July 6, at Moby’s Restaurant at East Hampton Point. Every year the Jewish Center of the Hamptons hosts a Summer Luncheon that honors members who have made extraordinary contributions to the life of the congregation and the greater community. This year, the Jewish Center honored Sara Beth Zivitz and Michael Senft. CBS Senior News Correspondent Rita Braver was guest speaker. Sharelast_img

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Games plan

Get your free guest access  SIGN UP TODAY Stay at the forefront of thought leadership with news and analysis from award-winning journalists. Enjoy company features, CEO interviews, architectural reviews, technical project know-how and the latest innovations.Limited access to building.co.ukBreaking industry news as it happensBreaking, daily and weekly e-newsletters Subscribe to Building today and you will benefit from:Unlimited access to all stories including expert analysis and comment from industry leadersOur league tables, cost models and economics dataOur online archive of over 10,000 articlesBuilding magazine digital editionsBuilding magazine print editionsPrinted/digital supplementsSubscribe now for unlimited access.View our subscription options and join our community Subscribe now for unlimited access To continue enjoying Building.co.uk, sign up for free guest accessExisting subscriber? LOGIN read more

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Comerford steps up at Tyne

first_imgComerford has over 30 years of experience in shipping, maritime safety and engineering. He is a chartered engineer, a member of the Royal Institution of Naval Architects (MRINA) and an associate fellow of the Nautical Institute (AFNI).He has previously held senior roles within the Maritime and Coastguard Agency, Lloyd’s Register and Bureau Veritas.www.portoftyne.co.uklast_img

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Pool will stay open for now

first_imgThe Manenberg public swimming pool will remain open for now, and a final decision will only be made after assessing the impact its early closure will have on the community. The Manenberg swimming pool will remain open for now – this after a proposal was made for its early closure for this season, after a staff member was attacked there on Wednesday January 30.The 31-year-old Recreation and Parks Department employee was patrolling along the perimeter of the swimming pool when he noticed that a section of the concrete palisade fencing had been vandalised, said mayoral committee member for community services and health, Zahid Badroodien.“He then spotted a group of boys trying to gain entry to the facility through the opening.“When attempting to close the opening, while on the telephone to summon Law Enforcement, one of the boys hurled a brick at the staff member that hit him in the face. He was left disorientated and bleeding profusely and was taken to hospital for treatment. I was horrified to learn of this attack,” Dr Badroodien said.The City’s Law Enforcement Department advised that the swimming pool be closed in the interests of safety, as this was the second incident within a week. The previous week, three vehicles belonging to a contractor who was working at the swimming pool had been stoned too.Dr Badroodien said on Monday February 4, that a decision to close the pool had not been made yet.“Due to the volatility, it was advised that the pool be closed, but a meeting will be scheduled, hopefully by this week, to meet with the director of the Recreation and Parks Department, as well as the ward councillors. We need to discuss the impact the closure will have on the community before a decision can be made,” Dr Badroodien said.He said the City condemned the incident, and called on anyone with information about the attack to report it to the police.“I’d like to wish our staff member a speedy recovery and will ensure that he receives the necessary support from the City’s Employee Assistance Programme. This is a most unfortunate development, considering the fact that we have been able to extend the operating times of 13 outdoor swimming pools that were open to the public this summer.”Captain Ian Bennett, spokesperson for Manenberg SAPS, confirmed an investigation is under way. Anyone with information can contact Manenberg SAPS at 021 699 9400 or Crime Stop at 08600 10111. The swimming pools opened on Saturday December 1 and were initially meant to close at the end of January this year. However, thanks to a system of backwashing and reuse of water that allows the City to comply with the requirements of the current Level 3 water restrictions, along with additional funding secured to extend the contracts of lifeguards, swimming pools will be open on Tuesdays, Thursdays and weekends until the end of the Easter weekend.Atlantis, Langa, Khayelitsha, Mnandi, Bellville South, Bonteheuwel, Goodwood, Vulindlela, Emthonjeni, Hanover Park, Manenberg, Muizenberg and Eastridge pools will remain open to the public until Monday April 22. These pools will be open on Tuesdays, Thursdays and Fridays from 1pm to 5pm and Saturdays and Sundays from 10am to 5pm. The City’s four indoor pools in Blue Downs, Retreat, Strand and Long Street, as well as the Sea Point swimming pool will remain open to the public daily.last_img read more

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More TENs in prospect

first_imgIN THE VIEW of Thomas Barrett, Adviser in the Directorate for Lending Operations at the European Investment Bank, Europe’s railways have done well in loans or grants from the EIB in the last 10 years. Speaking at AiC Worldwide’s EuroRail Congress in Paris on January 26 (p141), Barrett noted that ECU9·5bn of finance had gone to railways in 13 countries since 1990. Rail projects benefiting from EIB finance range from Spanish National Railways’ AVE line to Danish State Railways’ link across the Great Belt and the Tagus crossing in Lisboa.Some of the funds were destined for the Trans-European Network projects endorsed by European transport ministers in December 1994. Barrett said a second programme of TENs is now in prospect, with details expected in a Transport Priorities White Paper that European Transport Commissioner Neil Kinnock may issue in July. Plans could also emerge at an informal EU transport ministers meeting in Dortmund on April 23-24. Just how concerned Kinnock is about the need for change on Europe’s railways came over when he spoke in the French National Assembly before Christmas, stressing how badly rail had lost market share in the last 30 years.TEN proposals in the second programme are likely to include better links with Eastern Europe, but Barrett suggested that rail will not be such a major beneficiary as in the first round. ’Other modes have not stood still while rail makes up its mind what to do’, he warned. Taking US railroads as an example, he pointed out that deregulation in Europe may well further reduce earnings per tonne-km. It was implicit that Europe’s railways must improve their performance if they wish to qualify for future funding.last_img read more

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Ethiopia Jews protest Israeli government’s emigration delays

first_imgRelated Ethiopian Jews accuse Israeli government of discrimination Hundreds of Ethiopian Jews gathered in the capital, Addis Ababa, to protest the Israeli government’s decision not to allow all of them to emigrate to Israel, leaving their families divided between the two countries.Representatives of the 8,000 Jews in Ethiopia urged the Ethiopian Jews living in Israel to think carefully before voting for Israel’s ruling party, the Likud, over the delays in repatriation to Israel.The Ethiopian Jews claim they are being blocked from emigrating to Israel, despite a 2015 pledge to allow them to do so by the Israeli government.“I urge Ethiopian Jews to think twice before voting for the Likud party because the party’s leader, Benjamin Netanyahu, is not keeping his words to help us emigrate to Israel,” Neggousa Zemene Alemu, head coordinator of the Ethiopian Jews in the Ethiopian cities of Addis Ababa and Gondar, told The Associated Press Monday, as hundreds gathered at a synagogue in Addis Ababa on Monday.“I don’t believe the Israeli government has a financial problem to immigrate the remaining Ethiopian Jews back to Israel,” he said. “I rather think it is a political move or racism.”The Israeli government decided on October 7 that just 1,000 Ethiopian Jews would be permitted to move to Israel, which would leave many families divided, according to leaders of Ethiopia’s Jewish community. They said Ethiopian Jews are starving, ostracized and deprived of basic needs in Africa while the government in Israel is “dragging its feet to come to our rescue.”Eyayu Abuhay, a community organizer, said 50 Ethiopian Jews have died since 2015 while waiting to join their family members in Israel. “We want Prime Minister Benjamin Netanyahu to come to our rescue before we all die here,” he said.In February, Ethiopian Jews held a similar protest in Addis Ababa and warned they will stage a mass hunger strike if Israel eliminates funding to help them join their families in Israel. Since then, Israeli officials have visited Ethiopia, but organizers said nothing has changed since then.Most of the more than 8,000 Ethiopian Jews in the East African nation are practicing Jews and believed to have family members that already reside in Israel. Some told AP they have been separated for more than a decade.But Israel doesn’t consider them Jewish under strict religious law, meaning their immigration requires special approval. They are descendants of Ethiopian Jews who were forcibly converted to Christianity around a century ago, and the Israeli government views bringing them to Israel as family reunification rather than “aliya,” or Jewish immigration. The families allege discrimination.In 1991, with Ethiopia in civil war, Israel carried out the dramatic Operation Solomon which airlifted some 14,500 Ethiopian Jews to Israel in less than two days. Now about 145,000 Ethiopian Jews are estimated to be living in Israel.“Why are we not allowed to immigrate to Israel? Is it because we are black or uneducated?” asked Melese Sidisto, a coordinator for Ethiopian Jews in Addis Ababa, who then burst into tears. “We are being cheated like a child. This is not right.”In a letter addressed to Netanyahu, the Ethiopian Jews in Addis Ababa said they want to go to Israel immediately and without any preconditions to join their family members.“Our family members are dying here while we are awaiting your promise to be implemented,” the letter reads. “Not implementing the promise amounts of playing with Israeli citizens lives. This is not expected from a democratic state like Israel.”last_img read more

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Anglo American lowers dividend after 39% profit fall from lockdowns

first_imgFILE PHOTO: A mine shaft is seen at the Tumela Mine , an Anglo American open pit mine in Thabazimbi, South Africa, June 9,2016. REUTERS/Siphiwe Sibeko/File Photo FILE PHOTO: A mine shaft is seen at the Tumela Mine , an Anglo American open pit mine in Thabazimbi, South Africa, June 9,2016. REUTERS/Siphiwe Sibeko/File PhotoDiversified miner Anglo American said on Thursday first- half profits fell 39% as coronavirus-related lockdowns hit production and it said it was halving its interim dividend.The London-listed miner posted underlying earnings before interest, tax, depreciation and amortisation (EBITDA) of $3.4 billion for the six months to June 30, beating a consensus of $3 billion from nine analysts compiled by Vuma.Anglo declared an interim dividend of 28 cents per share, down 55% from a year earlier but in line with its 40% payout policy.“The year has been like nothing I have ever seen in my 43 years in the industry,” CEO Mark Cutifani said on a call.This month, Anglo stuck to most of the full-year production targets it set in the spring after lockdowns hit its output of diamonds, iron ore, coal, platinum and palladium.Anglo also suffered operational incidents at its platinum unit in South Africa and in its Australian metallurgical coal mine which were partially offset by a good performances in Brazilian iron ore and its Chilean copper operations.Related Anglo American opens $62 million smelting plant in Zimbabwe Bafana squad named for South American tourcenter_img American football fast gaining popularity in Nigerialast_img read more

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