Construction and Property Corner ::: 11 August 2023

[Bulls n Bears]

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Construction and Property  Corner ::: 11 August 2023 

 


 

 

	
 


 

 


 

ü  Construction of Catholic vocational school starts in Hwange 

ü  Women in construction to be celebrated at national awards

ü  Costa Rica to increase tax on construction services in September

ü  Construction costs delay Watertown’s new field

ü  Government projects transform Lupane, accelerate development   

ü  Mozambique: Mozambican president commissions 70 km Negomano-Roma Road
enhancing trade between Mozambique and Tanzania

ü  South Africa: The Changing Landscape Of African Development

ü  Egypt’s SODIC completes 20% of construction works of June North Coast

ü  Mideast construction industry must prioritise net zero, says expert

ü  Global Nuclear Reactor Construction Market: A Path to Energy Mastery

ü  Construction Films Market size to grow by USD 3,269.85 million from 2022
to 2027; Growth opportunities led by Amcor Plc and Avient Corp. - Technavio

ü  Real estate firm partners with National Bank in land purchase deal

 


 

 


 <https://www.willdale.co.zw/> Construction of Catholic vocational school
starts in Hwange   

THE construction of the Catholic Church run Don Bosco Technical Secondary
School (DBTSS) in Hwange has started while the institution’s technical
skills side has introduced more vocational courses as the church makes
efforts to complement Government in enhancing lifelong education to its
citizens.

 

The school started in 2021 with 90 Form Ones who are now in Form Three and
enrolment has grown to 270 leaners.

 

It is currently using existing infrastructure being shared with Don Bosco
Technical College which offers Technical Vocational Education Training
(TVET).

 

The school is operated by the Salesians of Don Bosco, a Catholic Church
congregation.

 

 

Rector Major of Don Bosco from Italy Fr Angel Artime Fernandez presided over
a ground-breaking ceremony when he laid a foundation stone for construction
of the school last year, and a news crew observed yesterday that a classroom
block with five classrooms is at roof level while two others with two and
five classrooms respectively are at window level, with an administration
block at slab level. 

 

The four structures including ablution facilities are set to be completed by
November and the school will move to the new premises in January 2024.

 

Each Form will have three classrooms and the idea is to eventually have
Advanced Level in future.

 

The objective is to leverage on the conducive investment environment ushered
in by the Second Republic to reduce shortage of learning institutions by
improving access to education in Matabeleland North Province, improve
standards of living through education and help Government attain its goals
of an upper middle-income society by 2030.

 

DBTSS is one of its kind offering a combination of secondary school
education with a rich curriculum comprising languages and cultural studies
among others, together with Hexco courses from Form 1 so that when learners
get to Form Four they will be having Hexco certificates.

 

 

This will give learners lifelong skills training in line with Government
transformation agenda, and the mantra of leaving no one and no place behind.

 

Sitting within a 28ha piece of land that already has other infrastructure,
the whole project including a technical block with a fully furnished
library, state-of-the-art sports field and a school bus among other needs
will cost US$400 000.

 

DBTSS Rector and Principal Fr Simba Muza said TVET courses being offered are
Business Studies, Human Resources Management, Purchasing and Supply,
plumbing, bricklaying, fitter and turning, metal work and welding, clothing
and Technology, Information Technologies and Wildlife Management, with
catering and tourism courses set to start next year.

 

“Next year we will need introducing solar energy training because we are
seeing the need to turn green. There are green jobs being created so we want
to train our students for the future.

 

“We are a secondary school with technical skills orientation where students
will have both Zimsec and Hexco certificates and it’s a feeder to the
tertiary TVET college so that even if one fails, they will be having skills.
At the moment we are sharing existing facilities and we hope to complete
construction in November before moving in January,” said Fr Muza.

 

The technical college has 13 lecturers while the secondary school has 15.

 

 

 

“The new courses are dominated by the working class who want to advance
themselves. We are saying no-one shield be left behind or be incapable to
contribute to the building of our nation.

 

“We are more and more seeing the need for people to be creators of jobs as
the future is no longer limited to formal employment, let’s create jobs,” he
said.

 

The Salesians are self-funding the project with the help of local and
international partners.

 

Locally, Fr Muza said, Hwange Colliery Company has been exceptional in terms
of helping the agenda.

 

“We always appeal to the corporate world and other stakeholders to come on
board. It takes all stakeholders to come together to ensure young people are
transformed.  We have space but we can’t do it alone as we want to
complement Government efforts to empower citizens. I am sure we will be able
to attain what we are here for if we have the whole community with us. We
are indebted to the corporate world for technical and material support and
one of the key supporters is Hwange Colliery Company who have stepped up on
several occasions” he said.

 

 

Chair of education subcommittee for the institution Mr Daniel Msumba thanked
various stakeholders for the assistance rendered.

 

“We have been blessed to have a dream for the technical secondary school.
The vision now is coming to pass because a lot of local state-owned
companies, private companies, partners and foreign donors have assisted in
terms of material resources. All this is happening because stakeholders in
Hwange are assisting and we are grateful,” he said-chronicle

 

 

 

 

Women in construction to be celebrated at national awards

Women working in the construction industry are set to be celebrated at a
national awards ceremony this year.

 

The shortlist has been revealed for the ‘Top 100 Women in Construction
Awards’ which will take place in Birmingham in October.

 

HSE Stress in construction2021The awards, introduced by the National
Federation of Builders (NFB) for the first time last year, aim to showcase
women in the sector to make female and non-binary role models more visible
and accessible – and create a more inclusive industry while plugging the
skills gap.

 

Danny Clarke, Commercial Director for the National Federation of Builders,
said: ”We launched the Top 100 Most Influential Women in Construction Awards
last year in order to celebrate the amazing women and their allies that are
doing wonderful things throughout the Industry.

 

“Whilst it’s undeniable that we need to bring more females into the
industry, we also need to recognise the amazing people we have already
working within it.

 

“Unlike many influential lists that focus purely on senior individuals, the
NFBs Top 100 Women in Construction is fully inclusive and crucially
showcases all the role models in our industry from Trainees and Apprentices
right the way through to the boardroom.

 

“Our Legacy programme also helps to support individuals to develop skills
necessary to make the change and lead our industry in the years to come,
showcasing what’s possible for people within our wonderful industry.”

 

Inspiring the next generation 

The NFB represents builders, contractors and house builders across England
and Wales and it hopes to motivate and inspire the next generation of female
workers to pursue construction-related careers.

 

The categories for this year’s awards include Local Heroes, Influential
List, Allies, One to Watch, and Woman on the Tools.

 

Bethany Holroyd, UK Health and Safety Business Partner at WSP in the UK and
North East, won the Unsung Hero award last year.

 

Further reading: Bethany discusses the need for equality and encouraging
more females in to sector in her two articles for SHP: Moving Forward and
Recruit to Retain 

 

She said: “Following the awards last year, I have made so many new
connections, of which several have become not only business connections but
great friends too. Everyone I met was genuinely inspiring – and we all
regularly connect with each other almost a year later.”

 

The Top 100 most Influential Women in Construction shortlist for 2023 can be
found here.

 

As part of the event the NFB has developed a year-long Top 100 Legacy
Programme of training and support available to those that have nominated or
been nominated, which includes mentoring, virtual and in-person networking
events, master classes, pathway support, and more.

 

 

 

 

Costa Rica to increase tax on construction services in September

Despite the plea from the Costa Rican construction chamber to delay
increasing taxes on the industry, the finance ministry is set to move
forward with a hike that will affect construction services. 

 

The general director for tax at the ministry, Rudolf Lucke, said on
Wednesday that the increase from 8% to 13% will be applied to the
value-added tax on engineering, architectural and topographical services,
among others. The change will come into force on September 1. 

 

“In the bill [approved in 2018] it was established a period of time so that
the 13% rate was gradual, therefore for some time the payable tax rate was
4%, then it was 8% and now we are reaching 13% which is the normal rate of
value-added tax [for construction services],” he was quoted as saying by
news outlet Monumental. 

 

The bill, aimed at strengthening public finances, was approved by congress
in 2018 and implemented in 2019.

 

“Which are the affected services? Among them are the construction of
commercial and residential buildings, civil engineering works, masonry
works, painting, architecture and engineering consulting, topography,
installation of glass and windows, among others,” said Felipe Bonilla, tax
manager at Grant Thornton.

 

 

 

 

Construction costs delay Watertown’s new field

WATERTOWN, S.D. (Dakota News Now) - The first phase of renovations at Allen
Mitchell Field in Watertown has been completed, but a delay in phase two
means home fans will be sitting on the visitor’s side for the foreseeable
future.

 

The idea to invest $10 million to renovate the field came when updates were
needed at both the Allen Mitchell track and the Watertown Arrows Stadium,
which was built in 1940.

 

”The decision-making process was kind of one where we tried to consider, do
you remodel both? Do you redo both? Or do you try to combine and ultimately,
we decided to combine,” said Watertown Superintendent Jeff Danielsen.

 

The newly-remodeled space will be home to Watertown’s football, soccer and
track teams. The field is located just north of Watertown High School, which
will be more convenient for athletes and staff than the current setup.

 

 

”We decided that we were going to do the work in phases. So, in the spring
of 2022, we broke ground to begin work on the track and what you see here,
which we call phase one,” said Danielsen.

 

On top of resurfacing the track, phase one included the completion of the
field itself. The total cost for the first half of the project was around $4
million, and the field was opened to the public in July.

 

Phase two, however, has not gone as smoothly. The second phase of the
project will create 3,750 seats for home fans on the west side of the field
as well as press boxes, stadium lights, and a building for bathrooms,
concessions and locker rooms. The Watertown School District is hoping to
spend around $6.8 million on phase two.

 

When the bids for phase two came in June, however, they weren’t what the
district was hoping to see. Contractors gave price ranges that were 60
percent higher than estimated costs.

 

 

Danielsen said this was mainly due to the demand subcontractors were seeing,
which drove up the price of electrical work, concrete and plumbing.

 

”The information we have is they are booked out for a full year with current
projects,” said Danielsen.

 

So, Watertown has put a pin in phase two until September when they’ll accept
bids once again. This could push the completion of the project back a year.

 

In the meantime, architects are reevaluating the district’s plan to see
where they can cut costs. Danielsen said the biggest impact will most likely
be having one building for concessions and bathrooms instead of the original
plan of two.

 

 

If bids are accepted in September, Danielsen said the football team will
most likely move from their stadium to the new field in the fall of 2025.

 

“The good part right now is probably 90 to 95 percent of what it will
ultimately be used for can be used right now. It’s really those larger,
home-crowd events where we need the additional seating,” said Danielsen.

 

The Watertown varsity boy’s soccer team is preparing to break in the new
field during their first home games of the season on Friday and Saturday.
Head coach Jesse Hauck said the team is excited about their new home turf,
and they are happy to make it work with only visitor-side bleachers.

 

”For soccer, we’re used to having chairs and not a lot of bleachers, so
we’re kind of open. As long as we have some grass and the weather is fine
and we’ve got some sunlight, we’re pretty happy. The bleachers are amazing.
The field is amazing,” said Hauck.

 

 

 

 

Government projects transform Lupane, accelerate development   

LUPANE, the provincial capital of Matabeleland North, is growing in leaps
and bounds as the Second Republic continues to accelerate the implementation
of transformative infrastructural development projects in the largely rural
province, which lagged behind in terms of development. 

 

Lupane is a rural semi-arid area with a growing population and some
infrastructural expansion after it was accorded the capital status of the
province in 1999, but development has been slow largely due to inadequate
funding for infrastructural development.

 

However, under the Second Republic, Lupane has recorded transformative
growth as evidenced by the implementation of new infrastructural projects in
addition to existing ones, which had stalled for years due to a lack of
funding. Government has completed the reconstruction of the Pupu Battlefield
National Monument and clinic and both projects are ready for commissioning
by President Mnangagwa. 

 

 

For many years, the account of the Battle of Pupu deliberately overlooked
the African perspective. In telling the story of the Battle of Pupu, the
colonialists intentionally snubbed the Ndebele perspective.

 

Government has, however, reconfigured the memorial site, a place where King
Lobengula’s Imbizo Regiment led by General Mtshana Khumalo, killed settler
forces’ commander Major Allan Wilson and his fighters on 4 December 1893, to
represent the whole story. 

 

Pupu Clinic, with a target catchment area of over 12 000, comes as a relief
to locals who were forced to walk long distances to neighbouring health
facilities such as St Paul’s and Gomoza clinics. The project is part of
President Mnangagwa’s universal health coverage programme under which he is
championing the availing of quality healthcare services and specialties
closer to the populace.  As part of implementing the dictates of the
Zimbabwe National Human Settlements Policy (ZNHSP), the Ministry of National
Housing and Social Amenities and the Lupane Local Board, have engaged the
contractor to provide water, sewer, and road network to ensure that the
Lupane Hlalani Kuhle housing project, is fully functional.

 

 

A local company, Saltaway Enterprises, was contracted by the Ministry of
National Housing and Social Amenities to do the civil works, including 19
housing units earmarked for civil servants at Hlalani Kuhle, as the Second
Republic works towards improving the welfare of its workers. 

 

The civil works include connecting water and sewer pipes and constructing
access roads. Once the servicing is complete, Matabeleland North senior
civil servants, most of whom are residents in Bulawayo, are expected to
relocate to the provincial capital and occupy the houses.

 

The completion of the Welshman Mabhena Government Complex, the ongoing
construction of Lupane Provincial Hospital, and the relocation of Lupane
State University (LSU) have changed the face of the town and triggered
economic growth.

 

Lupane district development co-ordinator, Ms Ennety Sithole said
developmental projects in Lupane have given impetus to the growth of the
provincial capital. 

 

“We are very grateful here in Lupane, which is also the capital of
Matabeleland North province, for the projects which are being implemented by
the Second Republic. The projects, which include a provincial hospital,
e-passport office, Lupane State University, and the Welshman Mabhena
Government Complex, which are now complete and ready for occupation, have
helped spur economic growth in our district, which is also rich in timber,
gold and methane gas,” she said.

 

“We have civil servants’ houses, including the official residence of the
Minister of State for Matabeleland North Provincial Affairs and Devolution,
which have been constructed. The 5km stretch from Lupane Centre to the
District Development Coordinator Complex has been tarred including 10km
along Fighting Road.”

 

 

Ms Sithole said the projects have helped transform the face of Lupane and
the entire province as a whole. 

 

We are even more than happy with the reconstruction of the Pupu Battlefield
National Monument, the clinic, and the staff houses. We also have the Bubi
Lupane Irrigation Scheme, which is assisting our communities in terms of
employment and the scheme has also boosted food security in our district,”
she said. 

 

 

Bubi-Lupane Irrigation Scheme

 

The Bubi-Lupane Irrigation Scheme, which is situated in Mpofu Village under
Chief Mabhikwa, has been turned into a green belt. It is one of the flagship
Government projects that symbolises hope for about 100 families. 

 

Through Government support, the irrigation scheme helped transform
subsistence agriculture at the household level into commercial agriculture
as part of rural development and industrialisation in line with Vision 2030,
which is anchored on driving the country’s economy into an upper
middle-income one.

 

The area falls under savanna climate largely characterised by woodlands and
grasslands. Over the years, the local community has been largely practising
subsistence farming and relying on seasonal rainfall for watering crops.

 

Ms Sithole said the Bubi-Lupane Dam has alleviated water challenges in
Kusile district.

 

 

President Mnangagwa

 

Lupane Local Board chairperson Councillor Monica Ngwenya said various
projects being spearheaded by the Second Republic under President
Mnangagwa’s administration have accelerated the growth of Lupane.

 

She said they have lined up a number of projects and are also in the process
of courting for more investors in line with the town’s expansion drive.

 

 

“We are implementing a number of projects in Lupane in line with our
development agenda. We constructed new toilets at the bus terminus using
devolution funds because the existing ablution facilities were no longer
adequate for the growing number of travellers,” said Cllr Ngwenya.

 

“Lupane is gradually growing and demand for both residential and commercial
stands is growing hence we will soon be releasing 744 residential stands and
100 commercial ones, and work has also started for the a truck port behind
the bus terminus.”

 

Acting town engineer Mthabisi Ncube said they are implementing the US$1,6
million sewer reticulation and road construction at Hlalani Kuhle.

 

“Ever since Government chipped in with funds, there has been significant
progress and the contractor has managed to haul about 300 loads of gravel
for the ring road. As for sewer reticulation, it is now fully functional and
it is now a proper urban set-up with water, a functional sewer system, and
roads,” he said.

 

“Initially, the project was projected to be finished in April, but the
contractor has requested an extension to 30 October 2023. The contractor is
on the ground and in the next few weeks, they will be tarring the road.”

 

Matabeleland North has reaped the best benefits in terms of development
projects in the last five years courtesy of President Mnangagwa who has
vowed to uplift people’s livelihoods in the province that has previously
been regarded as marginalised. 

 

 

Since coming into power in 2017, President Mnangagwa has pushed Government
to spearhead equitable and inclusive development across the country as he
seeks to ensure ‘no one and no place is left behind’-chronicle

 

 

 

Mozambique: Mozambican president commissions 70 km Negomano-Roma Road
enhancing trade between Mozambique and Tanzania

Mozambican President Filipe Jacinto Nyusi has commissioned a key link road
funded by the African Development Bank (www.AfDB.org). Completion of the
Negomano-Roma Road, in the country’s northern province, is already enabling
communities in the Mueda district of the northern Cabo Delgado region to
enjoy improved road conditions, access to health and education, and
increased local economic activity. 

 

Accompanying President Nyusi at the official commissioning ceremony on
August 4 were Minister of Public Works, Housing and Water Resources, Carlos
Mesquita, Cabo Delgado Province Secretary of State António Supeia, and
Governor of Cabo Delgado Province, Valige Tauabo. Also present were more
than 200 local residents of the Mueda district and a delegation from the
African Development Bank, led by the Bank’s country manager for Mozambique,
Cesar Mba Abogo.

 

Nyusi praised the African Development Bank as a strategic partner of his
country’s development agenda. He said the road would facilitate trade, the
movement of people and goods, contributing to the increase of incomes, and
growth of Mozambique’s economy.

 

Nyusi said: “The road is a great gain for the viability and maximization of
regional integration. It is also the materialization of a dream of first
Mozambican president Samora Machel and his Tanzanian counterpart, Julius
Nyerere, whose goal was to bring together the bonds of fraternity between
both countries.”

 

The estimated project cost is $170 million for the construction of the 164
km road section from Negomano to Mueda. The project has been executed in
phases, with the first phase approved by the African Development Bank’ board
in 2016 for a loan of $70 million. In 2019 and 2022, the Bank’s board
approved an additional grant funding totaling $100 million. This was for the
construction of the 35 km stretch of road between Roma and Nanbumgale. Works
on the sections Roma – Nambungale – Mueda are expected to commence early in
the first quarter of 2024.

 

The road is a priority under the Mozambican government’s development plans
for the northern region, which has significant economic and social
potential, despite many challenges that have resulted in a lack of economic
opportunities. The road is expected to improve trade between Mozambique and
Tanzania in the long term and help address some social challenges and
hardships.

 

Construction of the road took 42 months, with 417 local workers hired by the
contractor under the framework of promotion and inclusion of local content.

 

Speaking for the African Development Bank, Abogo said: "This road provides
an opportunity for stronger economic cooperation and integration between
Mozambique and Tanzania, and the entire SADC community. The delivery of such
an asset is precisely what the Bank envisions by financing transformational
infrastructure projects towards the achievement of its long-term strategy.”

 

Local residents along the corridor spoke of the road’ impact on their lives
on a daily basis. Elsa Joao, a resident of Ninga, said: “Before the
construction of the road, it was difficult travel to the nearby hospital to
receive medical care in Negomano, especially during the rainy season.”

 

Another local resident remarked: “Before the construction of the road, it
took three to four hours to travel between Negomano and Roma. Now, the trip
can be completed in less than an hour.”

 

“The construction of the road marks a significant milestone for regional
development,” said Minister of Public Works, Housing and Water Resources,
Carlos Mesquita.

 

The project will include a social inclusion component involving the
construction and rehabilitation of various schools, health centres, water
boreholes, markets, a transformation centre for women's associations and a
vocational training centre.

 

The African Development Bank is one of Mozambique’s leading development
partners in the transport sector.

 

The project aligns closely with the Bank’s regional integration priorities
as well as its commitments under the African Development Fund, the Bank’s
concessional lending arm. These commitments include supporting trade
facilitation in African Development Fund countries and on issues related to
fragility, especially for northern Mozambique. 

 

 

 

 

South Africa: The Changing Landscape Of African Development

Mayer Brown partner Kwadwo Sarkodie and trainee Lauren Howells look at the
role of lawyers in Africa's ongoing infrastructure boom.

 

We are a month away from Africa Climate Summit 2023, to be hosted in
Nairobi, Kenya. As the consequences of climate change increasingly make
themselves felt, addressing these effects, and taking steps to prevent them
from worsening, rises up Africa's already long list of pressing priorities.
Objectives which remain similarly urgent include managing the needs of a
rapidly urbanising population, and the resulting growing demands for
housing, infrastructure and power.

 

Given the pressing nature of these needs, large-scale projects are likely to
provide part of the solution. The challenge, however, is to ensure that such
projects have the resilience to cope with the consequences of an
increasingly unpredictable climate, while limiting the environmental effects
that projects themselves have. Projects on a massive scale can have a
similarly massive environmental impact, creating real tensions with the
requirements and principles of sustainable development. Resolving these
tensions requires flexibility and innovation not only on the part of those
conceiving, designing and constructing the projects, but also on the part of
legal advisers, whose role is crucial to ensuring successful project
funding, procurement and delivery.

 

Some of these considerations are illustrated by the development of the Eko
Atlantic City project in Lagos, Nigeria. As Africa's largest city, Lagos
faces particularly urgent needs for increased infrastructure, accommodation
and civic amenities. Lagos's estimated population in excess of 25 million
reflects a vast expansion over recent decades and continues to grow rapidly.
Such growth has placed the city's existing and ageing infrastructure under
considerable strain. At the same time, Lagos's coastal location restricts
space for expansion.

 

The Eko Atlantic City project addresses this by reclaiming land from the
Atlantic Ocean, to carve out space for the construction of an entirely new
city district. This is planned to serve as a new business hub for the city,
while also accommodating up to 250,000 people, served by dedicated power,
water supply, sewerage and communications infrastructure. In this way it has
the potential to support and promote the development of commercial activity
in Lagos, while at the same time easing pressure on other districts of the
city.

 

In devising and developing a project of this nature, considerations around
the impact of climate and weather action, both now and in future, are
clearly key. The reclaimed land on which the project is sited is protected
from the Atlantic Ocean by a sea wall, the design and construction of which
needs not only to support and protect the project during construction, but
also to provide long-term resilience against changing and unpredictable
weather patterns and rising sea levels. The project power, water and
communications infrastructure similarly need to be designed and implemented
with adaptability and sustainability in mind.

 

An example from elsewhere on the continent, which has so far proceeded with
less success, is the Grand Inga hydropower project, for a series of dams on
the Congo river in the Democratic Republic of Congo. This is a project
envisaged on an immense scale – indeed if completed it would be the world's
largest hydropower scheme. Its expected cost is some US$ 80 billion. The
current status of this project is nonetheless uncertain. The World Bank
cancelled its support in 2016, and despite a number of false starts
replacement financing has yet to be secured.

 

Like the Eko Atlantic City project, the Grand Inga dam project is closely
entwined with a range of environmental issues. If it were to be undertaken
the project would generate huge quantities of zero-carbon electricity which
could be distributed to meet energy across a range of neighbouring
countries. However, the project would also have considerable environmental
impacts of its own, including the alteration of water flows, the inundation
of large areas (with the consequent need to relocated residents) and impacts
on fisheries and agriculture.

 

It is clear that funding and successfully delivering the large scale
projects presents great challenges. This is only enhanced by the need to
ensure that such projects meet urgent development objectives while at the
same time managing and mitigating environmental impact and ensuring
resilience. Local regulations with regard to environmental impact must be
understood and navigated, and bilateral and multilateral funders routinely
impose environmental stipulations of their own. Further, with continually
growing levels of public concern regarding environmental and climate impact,
stakeholder engagement is ever more important. The need to strike a
difficult balance becomes increasingly stark.

 

Yet a further complicating factor is the need to employ innovative
techniques and technologies, to meet challenging environmental objectives.
This may include the utilisation of sustainable materials, 'green' building
practices and the deployment of advanced engineering solutions, such as
sub-sea construction, 3D printing and modular construction. Each such
innovation introduces potential complexities. Lawyers must engage with, and
consider how best to allocate and manage, risks as to matters including
intellectual property rights, regulatory frameworks and design liability.

 

In addition, the usual risks of delay, disruption, cost overruns and labour
shortages must be allocated, mitigated and managed within the governing
contract documentation. These are enhanced when the expectation of
sustainable development pressures companies to commit to new and unfamiliar
techniques without a real understanding of the potential teething problems
that may be faced. When unexpected issues render disputes unavoidable, clear
provisions governing the notification and assessment of claims, and the
efficient resolution of disputes are also necessary.

 

As Africa's development progresses, major engineering projects paradoxically
both offer a key part of the solution and present their own complications.
Legal advisers are at the forefront of addressing challenges brought on by
the innovative and large scale engineering necessary to deliver projects,
such as Eko Atlantic City, aimed at meeting the needs of a growing and
increasingly urbanising population. In understanding and managing risks
around environmental concerns and considerations, effectively allocating
risk and structuring appropriate dispute resolution mechanisms, lawyers have
a central role in working to ensure that major engineering projects achieve
their objectives while promoting sustainable and inclusive development
across the continent.

 

 

 

 

 

Egypt’s SODIC completes 20% of construction works of June North Coast

The Sixth of October Development and Investment Company (SODIC) has
completed 20 percent of the construction of its 'June' project on the North
Coast, the company's managing director Ayman Amer said.

 

The coastal destination project comprises 2,800 residential units and a
180-key five-star hotel and is being built in two phases, with Phase 1
extending over 169 acres and Phase 2 over 111 acres.

 

Amer told Zawya Projects that the delivery of the first phase will start in
the third quarter of 2025, while the second phase will be delivered by 2029.

 

He said the construction of the five-star hotel, spread over an area of
18,616 square metres, is expected to start next year and be completed by
2027.

 

The EGX-listed company achieved sales of 2.5 billion Egyptian pounds ($81
million) for the first phase, he disclosed.

 

The SODIC executive said last year, the company sold properties worth EGP1.5
billion ($49 million) to foreign buyers from Saudi Arabia, the UAE, the US
and Canada. He added that the previous year's sales would likely be
exceeded, with properties worth EGP500 million already sold to foreigners
this year.

 

Amer indicated that during the first half of 2023, SODIC added about 620
acres to its North Coast land portfolio. He said the company is also
studying a 550-key hotel project, which would be located in Cairo or the
North Coast.

 

(1 US Dollar = 30.90 Egyptian Pounds)

 

 

 

 

Mideast construction industry must prioritise net zero, says expert

Most construction businesses would support government incentives and
regulation to help fast-track progress towards emissions reduction and
bridge the gap between net-zero optimism and operational reality, according
to Turner & Townsend, a global professional services company with over
10,000 people in 50 countries.

 

There is a pressing need for the construction industry to shift its focus to
sustainability and prioritise net zero, stated Turner & Townsend in its
report, ‘Building a Sustainable Future in the Middle East’.

 

The report by the global professional services consultancy looks to gauge
and shape the understanding of sustainability of construction in the region,
ahead of Dubai hosting COP28 later in the year.

 

The outcomes from COP28 are expected to change the way construction
businesses operate in terms of sustainability and net-zero ambitions over
the next 12 months, it stated.

 

Turner & Townsend said the data is taken from a survey of a selection of
senior stakeholders and decision-makers, across the construction industry in
the Middle East, with both strategic and delivery responsibilities.

 

According to the survey, over 70% of respondents, including most developers,
investors, consultants, and government respondents, are discussing
sustainability requirements at the project briefing stage.

 

Although these considerations are being made from the outset, fewer than
half of the survey respondents are continuing to take these considerations
from design through to operation.

 

The majority of respondents to the sustainability survey stated that their
current projects do not exceed minimum regulatory requirements, highlighting
the potential importance of regulation as a driver of market change. In
addition, the report emphasised the growing importance of regulatory
evolution in improving sustainability standards over time.

 

Notably, developers are increasingly considering the wider impacts of
construction work in the region, a trend driven by increased awareness and
interrogation of Scope 3 emissions – those caused indirectly through a
company’s supply chain, rather than directly through its own operations.

 

This is leading to higher rates of life cycle assessment and increased
levels of multi-factor decision-making informed by more than just cost. Expo
City in Dubai is an example of a project typifying this trend, it stated.

 

Almost 90% of respondents felt that government-led carbon targets would help
steer businesses towards sustainable practices that are in line with the
national policy position.

 

Such an approach to cascading requirements through a regulatory framework
mirrors an approach that has worked well in other markets, such as the EU
and parts of North America, it stated.

 

With industry awareness of COP28 high amongst respondents, the global
climate change conference is expected to accelerate change in regulation and
act as a catalyst to fast-track national and regional ambitions around
sustainability. Businesses in the construction sector now need to shift
their focus to sustainability and prioritise net zero.

 

Commenting on the report, Lindsey Malcolm, Sustainability Lead, Middle East,
Turner & Townsend, said: "With the right mindset and sufficient
understanding of sustainable project delivery, the construction sector can
have a significant positive impact on the Middle East's drive to reach net
zero."

 

"The decarbonisation of the region’s built environment is feasible and has
the potential to generate significant value, but the industry must work
together to define a shared and a unified approach if impact at scale is to
be realised," he noted.

 

"COP28 could be the catalyst needed to fast-track national ambitions around
sustainability, particularly in the UAE as its host country, and usher in a
green future for all," he added.-TradeArabia News Service

 

 

 

 

Global Nuclear Reactor Construction Market: A Path to Energy Mastery

The Global Nuclear Reactor Construction Market is projected to reach a value
of approximately $ billion by 2022. It is expected to experience robust
growth with a significant increase in the transformative period of
2023-2030. This market is not just about construction; it represents a quest
for energy mastery fueled by nuclear reactors.

 

At the core of this market are nuclear reactors, which are marvels of
science and engineering. They facilitate controlled nuclear chain reactions,
generating nuclear energy that can be utilized in various ways. From
powering cities to producing isotopes for medical and industrial purposes,
nuclear energy holds immense potential.

 

 

The increasing demand for electricity due to urbanization and globalization
is a driving force behind the growth of the Nuclear Reactor Construction
Market. With approximately 440 operational commercial nuclear power reactors
and 60 more under construction worldwide, there is a need for more energy
sources to meet the rising demand.

 

Sustainability is a key focus in the market, driven by environmental
awareness and government initiatives. Governments across the globe are
striving to limit carbon emissions and are looking for clean and sustainable
energy sources. Nuclear energy is seen as a low-carbon alternative, making
it a significant contributor to the market’s momentum.

 

Technological advancements and government support create a range of
opportunities in the market. As technology continues to progress,
stakeholders are encouraged to invest in a future where clean energy
dominates. Key regions in the market include Asia Pacific, North America,
Europe, Latin America, and the Middle East & Africa, with Asia Pacific
leading the way in 2022.

 

 

Notable market players in the Nuclear Reactor Construction industry include
Areva S.A., China National Nuclear Corporation, State Atomic Energy
Corporation, Westinghouse Electric Company LLC., Hitachi-GE Nuclear Energy,
Ltd., Mitsubishi Heavy Industries, Ltd., Larsen & Toubro Limited, China
Nuclear E&C Group, United Heavy Machinery Plants, and Rosatom Corporation.

 

Recent advancements in the market include the deployment of Small Modular
Reactor (SMR) technology in collaboration between the United States, Japan,
and Ghana. This partnership aims to propel Ghana to the forefront of
Africa’s nuclear power journey.

 

To gain in-depth insights into the Global Nuclear Reactor Construction
Market, the Global Nuclear Reactor Construction Market Report offers a
comprehensive analysis. Covering the historical period of 2020-2021 and
focusing on 2022 as the foundation, this report provides a narrative of
revenue projection from 2023 to 2030.

 

 

 

 

Construction Films Market size to grow by USD 3,269.85 million from 2022 to
2027; Growth opportunities led by Amcor Plc and Avient Corp. - Technavio

PRNewswire/ -- The latest report on the construction films market 2022-2027,
estimates to register an incremental growth of USD 3,269.85 million at a
CAGR of 5.25% during the forecast period. The market is fragmented due to
the presence of diversified international and regional vendors. Rapid
urbanization and infrastructure investments will drive the construction
films market growth. These films are highly durable, resistant to moisture,
and environment-friendly and the market has an increase in the demand for
infrastructure development for residential and non-residential projects.
Also, with steady changes in lifestyle and the need for housing, the demand
for construction films is increasing. These investments in infrastructure
development are expected to foster the demand for building products. Hence,
such factors boost the construction film market during the forecast period.
The report offers an up-to-date analysis regarding the current market
scenario, the latest trends and drivers, and the overall market environment.
Request sample report 

 

Technavio presents a detailed picture of the market by way of study,
synthesis, and summation of data from multiple sources. The construction
films market report covers the following areas:

 

The market is fragmented, and the degree of fragmentation will accelerate
during the forecast period. Competitors have to focus on differentiating
their product offerings with unique value propositions to strengthen their
foothold in the market. Market vendors also have to leverage the existing
growth prospects in the fast-growing segments, while maintaining their
positions in the slow-growing segments. Amcor Plc, Avient Corp., Berry
Global Inc., Compagnie de Saint Gobain, Cortec Corp., DuPont de Nemours
Inc., Fastenal Co., Industrial Development Co. sal, Inteplast Group,
International Plastics Inc., Layfield Group Ltd., Magical Film Enterprise
Co. Ltd., Muraplast d.o.o., Napco National, PLASTA, POLIFILM Group, Sealed
Air Corp., Sigma Plastics Group, TECHNONICOL India Pvt. Ltd., Tilak Polypack
Pvt. Ltd., and W.W. Grainger Inc. are among some of the major market
participants.

 

Company Offerings

 

Amcor Plc - The company offers construction films such as blown film, cast
film, extrusion film, adhesive, and thermal lamination film.

Avient Corp. - The company offers construction films such as Polyolefin
Films used for Cesa Additives.

Berry Global Inc. - The company offers construction film used for concrete
curing, construction, and remodeling under the brand called Film Gard.

What`s New for 2023?

 

Key Trend - Increasing adoption of sustainable and eco-friendly construction
films

 

Increasing adoption of sustainable and eco-friendly construction films is an
emerging construction film market trend. The rising concerns over the
environment and a focus on sustainable building practices drive the market
growth and manufacturers focus on creating construction films from recycled
or bio-based materials to minimize their carbon footprint.

 

Also, sustainable building films support sustainable construction methods
and contribute to green building certifications. This includes leadership in
Energy and Environmental Design (LEED). Hence, such trends fuel the growth
of the construction film market during the forecast period.

 

Significant Challenge - Quality control and durability issues in lower-grade
films

 

Quality control and durability issues in lower-grade films challenge the
growth of the construction film market. Generally, lower-grade films lack
the required levels of resistance, flexibility, and mechanical strength
needed for construction. Such films have insufficient barrier qualities,
poor ultraviolet (UV) stability, or poor tear resistance.

 

This may affect their performance and shorten their lifespan. Higher
maintenance costs, film failure, and possible concerns, including water
damage or infiltration, are all the results of the challenges. Hence, such
factors are anticipated to impede the growth of the construction film market
during the forecast period.

 

For more details, understanding of Market Dynamics download Sample reports

 

Construction Films Market 2023-2027: Segmentation

 

The market share growth by the LDPE and LLDPE segment will be significant
during the forecast period. Owing to its flexibility and toughness, LDPE is
preferred for applications such as vapor barriers, protective coverings, and
geomembranes. Similarly, LLDPE is used due to its exceptional mechanical
qualities, including high tensile strength and puncture resistance. The
growth of these can be attributed to factors such as the expansion of the
global construction industry and the demand for dependable building goods.
Hence, such factors drive the LDPE and LLDPE segment of the construction
film market during the forecast period.

 

For insights on global, regional, and country-level parameters with growth
opportunities, historic market data (2017 to 2021) & forecast market size
(2023-2027) – Download a Sample Report

 

Construction Films Market 2023-2027: Key Highlights

 

CAGR of the market during the forecast period 2023-2027

Detailed information on factors that will assist construction films market
growth during the next five years

Estimation of the construction films market size and its contribution to the
parent market

Predictions on upcoming trends and changes in consumer behavior

The growth of the construction films market

Analysis of the market's competitive landscape and detailed information on
vendors

Comprehensive details of factors that will challenge the growth of
construction films market, vendors

 

 

 

 

 

Real estate firm partners with National Bank in land purchase deal

Real estate company Finsco Africa Limited has tapped National Bank of Kenya
(NBK) for a partnership that will allow its customers access funding from
the lender to purchase land sold by the firm.

 

 

The partnership will see customers interested in buying land currently being
sold by Finsco Africa in Thika Town access up to 70 percent of financing
from the NBK.

 

In a project dubbed Thika Grove Chania, Finsco chief executive officer John
Mwaura said the partnership involves both development financing and user
finance with a repayment of up to 10 years.

 

The real estate firm has put up for sale 200 acres of land targeting middle
and upper middle class who may want to set up residential houses in a
well-controlled gated community with close proximity to Nairobi and Thika
Town.

 

The land is located near Thika Town, a kilometre away from Blue-Post Hotel
that borders Kiambu and Murang’a counties where half an acre goes for Sh9.5
million, a quarter Sh5.5 million and an eighth Sh2.8 million.

 

“Finsco Africa Limited and its development partners are pleased to announce
that we have partnered with National Bank of Kenya for our project where the
bank will be financing our customers with up to 70 percent with a repayment
period of 10 years,’’ said Mr Mwaura.

 

Mr Mwaura said land and housing have been some of the fastest growing
sectors in Kenya over the past decade buoyed by a growing number of the
middle class with the demand for land, especially in satellite towns going
up on soaring demand for housing.

 

He pointed out that the latter has fueled a boom in land transactions with
people moving away from Nairobi and settling in Metropolitan towns and its
environs where the land is relatively cheaper.

 

 

Consequently, he said Finsco Africa has partnered with Aluminum Formwork
System, an American company providing building techniques, for large scale
construction where construction is completed within a year.

 

“Finsco Africa is targeting to build 10,000 affordable housing units in the
next five years both in Kiambu, Nairobi and its environs in line with the
government’s agenda of putting up affordable houses,” he said.

 

Mr Mwaura said Finsco has joined the Association of Real Estate Stakeholders
established to weed out rogue real estate companies and individuals preying
on buyers defrauding Kenyans of millions of shillings through non-existent
land buying deals or double allocations.

 

“The establishment of the new umbrella body to vet companies before they get
enrolled is a welcome relief because aggrieved buyers have a place to report
if they sense any mischief during the transaction process and errant member
or seller is disciplined and appropriate action taken,” he said.

 

The association, headed by Kinyua Wairatu, currently has more than 600
members mainly drawn from real estate and land selling companies. 

 

 

 

 

 

 

 

 

 

 


 


 


Invest Wisely!

Bulls n Bears 

 

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INVESTORS DIARY 2023

 


Company

Event

Venue

Date & Time

 


 

 

 

 

 


 

 

 

 

 


 

 

 

 

 


 

Heroes’ Day

 

Aug 14

 


 

Defence Forces Day

 

Aug 15

 


Padenga

EGM

Royal Harare Golf Club

August 16 – (10am)

 


Border Timbers

EGM

4 – 12 Paisley Road, Southerton, Harare, or virtually
:https://escrowagm.com/eagmZim/Login.aspx” 

August 18 – (10am)

 


zIMBABWE

 

2023 harmonised elections

August 23

 


Companies under Cautionary

 

 

 


 

 

 

 


CBZH

GetBucks

EcoCash

 


Padenga

Econet

RTG

 


Fidelity

TSL

FMHL

 


 

 

 

 


 <mailto:info at bulls.co.zw> 

 


 

 


DISCLAIMER: This report has been prepared by Bulls ‘n Bears, a division of
Faith Capital (Pvt) Ltd for general information purposes only and does not
constitute an offer to sell or the solicitation of an offer to buy or
subscribe for any securities. The information contained in this report has
been compiled from s believed to be reliable, but no representation or
warranty is made or guarantee given as to its accuracy or completeness. All
opinions expressed and recommendations made are subject to change without
notice. Securities or financial instruments mentioned herein may not be
suitable for all investors. Securities of emerging and mid-size growth
companies typically involve a higher degree of risk and more volatility than
the securities of more established companies. Neither Faith Capital nor any
other member of Bulls ‘n Bears nor any other person, accepts any liability
whatsoever for any loss howsoever arising from any use of this report or its
contents or otherwise arising in connection therewith. Recipients of this
report shall be solely responsible for making their own independent
investigation into the business, financial condition and future prospects of
any companies referred to in this report. Other  Indices quoted herein are
for guideline purposes only and d from third parties.

 


 

 


(c) 2023 Web: <http://www.bullszimbabwe.com>  www.bullszimbabwe.com Email:
<mailto:info at bulls.co.zw> bulls at bullszimbabwe.com Tel: +263 4 2927658 Cell:
+263 77 344 1674

 


 

 

 

 

 

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