Urban Splash founders sell 24 per cent to managers

The founders of property developer Urban Splash are to sell off almost a quarter of the company’s equity to its management team and have agreed a refinancing deal with three banks worth £125m.

Chairman Tom Bloxham and chief executive Jonathan Falkingham are selling 24 per cent of the shares to seven of its most senior staff, who will be given the option of buying between one and five per cent for an undisclosed price.

SOURCE: Crain’s Manchester BusinessUrban Splash founders sell 24 per cent to managers –

A pedestrian-friendly city – Daily News & Analysis

Faizan Jawed, 22, is not too excited about the increase in the number of malls and multiplexes dotting the city’s landscape lately. Unlike people his age, he believes that the “horrid architecture of these places is killing the city.” But unlike many, he wants to do something about it; and his ideas have won him a prestigious prize.

Jawed has been awarded the 6000 pound (approximately Rs 5 lakhs) RIBA Norman Foster Travelling Scholarship, named after the internationally renowned architect and administered by the Royal Institute of British Architects (RIBA), which will help him study pioneering sustainable infrastructure projects across three continents. His prize winning research proposal was ‘The Role of Public Transport in Shaping Sustainable Human Habitats,’ in which, he suggests ways to make Mumbai a pedestrian and cycling friendly city.

Source: DNA – Daily News & Analysis – Mumbai – A pedestrian-friendly city

The urban farmer: One man’s crusade to plough up the inner city – Features, Food & Drink – The Independent

Fritz Haeg isn’t perhaps the obvious representative of a revolution in global farming. As an architecture and design academic and practitioner, the American has had his work exhibited at Tate Modern and the Whitney Museum of American Art, and has taught fine art at several US universities. Yet it is last year’s community-collaborative project on an inner-city council estate in south London that best showcases his current passion: the urban farm.

Read more @ the SOURCE: The IndependentThe urban farmer: One man’s crusade to plough up the inner city

Top 50 most expensive office spaces in the world – CBRE

According to CB Richard Ellis Group, Inc. (CBRE) Research’s semi-annual Global Market Rents survey cities came in the Top 10 most expensive cities in the world. 

London’s West End is once again the world’s most expensive office market, while rapidly-rising Moscow climbed to second place, according to CB Richard Ellis Group, Inc. (CBRE) Research’s semi-annual Global Market Rents survey. The report tracks world markets with the highest as well as fastest-growing occupancy costs for the 12 months ended March 31, 2008. Tokyo’s Inner Central Five Wards, Mumbai’s Nariman Point and Tokyo’s Outer Central Five Wards rounded out the top five most expensive markets.

“Office occupancy costs are continuing to defy sluggish economic conditions and the credit crunch, as they rise faster than global inflation,” said Dr. Raymond Torto, CBRE’s Global Chief Economist. “These cost increases are dominated by emerging markets, caused by both supply and demand imbalance and the depreciation of the dollar relative to local currencies. In some of these emerging markets, Class A office space is seriously lacking.”

Ho Chi Minh City had the fastest-growing occupancy costs during this period, up 94%. Moscow was not far behind at 93%, followed by Singapore at 86%. Overall, EMEA (Europe, Middle East and Africa) dominated the list of markets with the fastest growing occupancy costs, accounting for five of the top 10 and 19 of the top 50 markets. Worldwide, 88% of the 173 office markets monitored posted higher occupancy costs.

Among the most expensive markets, Singapore and Dubai were newcomers to the top 10. Singapore ranked ninth with an occupancy cost of $139.31 (occupancy cost in US$/sq. ft./annum used throughout this release), while Dubai debuted at number 10 with an occupancy cost of $128.49. With a near-doubling of occupancy costs, Moscow rose four places to second at $232.37. Midtown Manhattan was still the priciest market in North America, at $103.43, and ranked number 13 worldwide.

The Top 10 most expensive cities are
1. London (West End), England
2. Moscow, Russia
3. Tokyo (Inner Central), Japan
4. Mumbai, India
5. Tokyo (Outer Central), Japan
6. London (City), England
7. New Delhi, India
8. Paris, France
9. Singapore
10. Dubai, United Arab Emirate

read more @ the SOURCE: CB Richard Ellis – CBRE Research

Plan to Remake Tysons Corner Envisions Dense Urban Center – washingtonpost.com

The transformation of Tysons Corner from a car-dominated tangle of offices, malls and auto dealers into a livable city will start moving ahead in the coming weeks.

Fairfax County leaders and landowners are unveiling sweeping proposals to build densely packed high-rises, miles of new streets, and enough parks, schools, police stations and firehouses to serve an entirely new place.

The results could determine the future not only of Virginia’s mightiest jobs hub, but also what happens across the country. Urban-renewal leaders are looking to Tysons as a model.

read more @ the SOURCE: washingtonpost.comPlan to Remake Tysons Corner Envisions Dense Urban Center

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