Construction and Property Corner ::: 25 July 2023

[Bulls n Bears]

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Construction and Property  Corner ::: 25 July 2023 

 


 

 


 <https://www.hyundai.co.zw/> 

 


 

 


 

ü  Egypt, Zimbabwe sign MoU for development of Mount Hampden city

ü  Umzingwane safe market nears completion

ü  More companies should come on board and join Government in rehabilitating
our roads  

ü  Craft Properties gun for attainment of SDGs

ü  Government completes almost half of Midlands priority projects 

ü  SCI constructs 754 mosques outside country in Q1 of 2023

ü  Government says it is concerned with rising cement prices

ü  UAE's Ellington, Dutco team up to develop premium residential projects in
Dubai

ü  IGI Developments plans to launch 4 commercial, administrative projects in
west Cairo

ü  Alfanar Construction, a key division of Alfanar Group, begins a new era
as Alfanar Projects

ü  Construction sector at highest production value since 2019

ü  Leading economists call for 2% increase in building construction spending
in 2024

 


 

 


 <https://www.willdale.co.zw/> Egypt, Zimbabwe sign MoU for development of
Mount Hampden city

Chairperson and Managing Director of the Administrative Capital for Urban
Development (ACUD) Khaled Abbas has signed a memorandum of understanding
(MoU) with Zimbabwe’s New City Development Corporation in Mount Hampden.

 

The MoU aims to enhance bilateral cooperation with regard to planning,
designing, building, and managing the new city in Mount Hampden, based on
the successful experience of the New Administrative Capital (NAC) in Egypt.

 

The development in Mount Hampden, northeast of the capital Harare, is slated
to be the site of the national parliament, headquarters of the central bank,
the high and supreme courts, mineral auction centers, a stock exchange, a
presidential palace and luxury villas.

 

Additionally, the two sides will cooperate in the development of the main
infrastructure of the new city, including roads, water and sanitation
networks, environmentally friendly energy facilities, waste management, and
smart infrastructure.

 

Zimbabwean Minister of Local Government and Public Action July Moyo praised
the relations between the two countries. He also praised the ability of the
Egyptian state to construct the NAC in record time and in a distinguished
manner, which prompted the Republic of Zimbabwe to request the support of
Egyptian companies in building Mount Hampden.

 

Abbas met with the Regional Director of the African Export-Import Bank
(Afreximbank) in the Harare, where they discussed some issues related to the
bank’s financing of any projects that take place in the new city of Mount
Hampden to provide the required funding sources if Egyptian companies are
present to start work.

 

This visit followed the previous visit of the Vice President of Zimbabwe to
the New Capital in Egypt in June 2023, during which he expressed his great
admiration for the project, and asked for cooperation between the two
countries in this sphere.-zawya

 

 

 

Umzingwane safe market nears completion

Construction of a US$90 000 safe women’s market to help end violence against
women and girls in Esigodini in Umzingwane rural district is nearing
completion.

 

The safe market under construction at Habane Extension is intended to
address issues of gender-based violence in public spaces.

 

It is part of the UN Women flagship programme on safe cities and safe public
spaces which was being implemented in partnership with Katswe Sisterhood and
the Ministry of Women Affairs, Community, Small and Medium Enterprises
Development under the European Union – funded Spotlight Initiative.

 

Marvellous Mukoswa, a women’s affairs ministry business development officer
said that the safe market would ensure that women and girls are safe and
participate actively in the local economy.

 

“This open safe market is going to be an important facility for our vendors
here. It will provide our vendors, mostly women, with a safe space and a
good operating environment,” he said.

 

“We hope to accommodate about 40 vendors including seven kitchens. With such
a structure, the vendors become better organised and we are able to provide
them with training. It becomes easy for us to have clear structures for
communication that can also help enhance their access to financiers and
other investors.”

 

The new facility has seven kitchens, a locker room, a verandah, a common
eating place, a play centre and a storeroom to safeguard the vendors
products and wares.

 

Sexual harassment and other forms of violence in public spaces is a daily
reality for women and girls in Zimbabwe and most parts of the world.

 

 

 

It often happens on the streets, in public transport, in and around schools
or workplaces, public toilets, water and food distribution sites and parks.

 

“We face sexual and physical abuse from drunk artisanal miners here in
Umzingwane,” said Winnie Ncube (38), a vendor at Habane Extension market.

 

 

“This market is important for us. We will be safe here. Magweja (artisanal
miners) are a violent lot and often destroy our vending stalls made up of
plastic and some roofing sheets. This is going to be a secure market for us,
fenced and with proper cubicles for us.”

 

Their clothes, wares and other products they sell are often exposed to rain,
wind, heat and dust.

 

“We always exposed to dust, wind, rain and heat in our plastic stalls. Dust
and rain affects the clothes and other wares we sell here and most of the
time we make losses as we are forced to reduce prices for damaged products,”
Ncube said.

 

Chipo Samanyanga (35) another beneficiary said a safe market will help
protect them and restore dignity to the women who toil daily in the vending
business.

 

“This new market is good for us. It is going to improve business for us and
help us to raise money to pay fees for our children and take care of
orphans,” she said.

 

“Before the construction, whenever a fight broke out at a nearby bar,
artisanal miners would tear down our stalls and destroy our wares. With a
fenced market, renovated public toilets and secure stalls, things will
change for the better.”

 

Sicelisile Khanye, a beneficiary from Habane Extension said better
structures will attract good business for them.

 

“People at times mess up our stalls during the night. They urinate on our
stalls. With good structures we will attract more business. We hope there
will be water and good toilets for us.”

 

“These structures will help prevent the harassment of women by violent
artisanal miners. We have a locker room and the place will be fenced. This
will help secure our clothes and our wares,” said David Gotosa (39), a
vendor.

 

“Toilets will also be important for public hygiene.”

 

The UN Women project on safe cities and safe public spaces is also being
piloted in Epworth and in Chipinge district.

 

Abuse of women in public spaces limits their access to essential services,
enjoyment of cultural and recreational activities, and negatively impacts
their health and well-being.

 

UN Women has been working with various local NGOs and community based
organisations under the Spotlight Initiative supported through a partnership
between the European Union and the United Nations to end violence against
women and girls and harmful practices.

 

Zimbabwe is among the 20 countries in Africa, Latin America, Asia-Pacific
and the Caribbean which have benefited from the four-year programme
supported by the EU to the tune of US$30 million.

 

-herald

 

 

 

More companies should come on board and join Government in rehabilitating
our roads   

WORK to repair and rehabilitate some sections of the Bulawayo-Victoria Falls
Highway has started. Delegates to the just-ended Infrastructure Summit and
Expo organised by the National Economic Consultative Forum (NECF) in
Victoria Falls, said driving through the Highway was now dangerous because
of deplorable state of the road.

 

They said driving along the busy highway was now a nightmare for motorists
because of potholes. The road links Zimbabwe with South Africa, Zambia,
Botswana and Namibia.

 

The complaints from the delegates prompted the Zimbabwe National Road
Administration (Zinara) chief executive Mr Nkosinathi Ncube to apologise for
the state of the highway.

 

 

Zimbabwe National Road Administration (Zinara)

 

Mr Ncube said work to rehabilitate the worst affected sections of the
highway had started.

 

 

President Mnangagwa has since directed that resources be mobilised to repair
and rehabilitate the worst affected sections of the road and teams are
already on the ground.

 

Road construction giant Bitumen World (Private Limited) has been contracted
to undertake the work and has deployed three teams along the highway.

 

The rehabilitation of the Harare-Beitbridge Highway is nearing completion as
435km is now open to traffic and the rehabilitation of the Bulawayo-Victoria
Falls is among the projects that the Government intends to implement soon.

 

 

 

 

Government should be commended for its swift response to the motorists’
complaints on the state of the busy Bulawayo-Victoria Falls Highway by
repairing the worst affected sections.  The repairs are meant to ensure the
Highway remains navigable before Government undertakes the rehabilitation of
the whole stretch of the highway like what is being done along the
Harare-Beitbridge Highway.

 

A good road network is critical for economic development hence Government is
prioritising the rehabilitation of major highways. There is also an urgent
need to rehabilitate the National Railways of Zimbabwe (NRZ) railway network
so that bulk cargo is transported by railway as opposed to using haulage
trucks which are damaging roads.

 

The lifespan of the country’s road network will be extended once all the
bulk cargo is transported by railways leaving very few haulage trucks on our
roads.

 

 

NRZ building in Bulawayo

 

It is a fact that Government is overwhelmed by roads that need to be
rehabilitated hence the need for the private sector to complement its
efforts.

 

Zwane Enterprises has taken the lead by constructing the 120km Old Gwanda
Road at a cost of US$150 million. The project is being implemented on Build,
Operate and Transfer (BOT) arrangement.

 

We are appealing to other companies to come on board and join Government in
order to speed up the road rehabilitation programme.-chronicle

 

 

 

 

Craft Properties gun for attainment of SDGs

Global innovators including construction and civil engineering guru
Professor Kudakwashe Taruberekera of Craft Properties have gathered at the
high-level 2023 (Sustainable Development Goals) SDG Business Forum in New
York.

 

The forum running under the theme “Turbocharging the 2030 Agenda with
Business Impact” seeks to realign interventions towards meeting the 2030
deadline.

 

At least 193 countries consolidated their development aspirations into 17
connected global goals known at the United Nations (UN) 2030 Agenda for
Sustainable Development Goals (SDGs), working towards a sustainable earth by
2030.

 

According to the UN, the SDGs seek to “protect the planet, and improve the
lives and prospects of everyone, everywhere.”

 

This ties in with the Government’s thrust of devolving development so that
no one and no place are left behind.

 

Prof Taruberekera said he attended the business forum to tap into
innovations from around the world in delivering construction and civil
engineering excellence to the country.

 

“Craft Properties Pvt Ltd.’s core values and principles echo the same
sentiments as those fundamental to the Agenda hence it was crucial that I
rose to the occasion and explore the diverse offerings that my peers brought
along,” he said.

 

“I knew without a shadow of a doubt that this experience would leave an
indelible mark on my general thought process and provide me with invaluable
insights on how to improve my business to ensure that we are not left behind
the closer we get to 2030.”

 

After the business, his goal is to steer Craft Properties (Pvt) Ltd towards
making strides and breaking boundaries in the construction and civil
engineering industry.

 

He said in line with SDG 5 which seeks to achieve gender equality, the
business forum was an eye-opener as espoused by the Global Partnership for
Effective Development Co-operation (GPEDC) which advocates for the
utilisation of adequate and effective financing as an instrument to empower
all women and girls.

 

Prof Taruberekera said sustainable development required fostering strong
partnerships between the public and the private sector.

 

“My business falls under the private sector by working in cooperation with
those in the public sector we boost each other’s morale to be innovative,
try new things, and sometimes even go beyond traditional ideas.

 

“I learnt embracing and strengthening partnerships is the key to success.
Our collective efforts will result in business models that focus on
profitable solutions to sustainable development challenges,” he said.

 

The Craft Properties CEO said charity work was an integral part of his
company’s growth.-herald

 

 

 

 

Government completes almost half of Midlands priority projects   

GOVERNMENT has completed over 800 out of 1 803 priority projects that are
aimed at uplifting the livelihoods of people across the eight administrative
districts of the Midlands province.

 

Permanent Secretary for the Midlands Provincial Affairs and Devolution, Mr
Abiot Maronge said the Second Republic set a target of implementing 1 803
life-changing projects of which 800 have been completed.

 

According to the structural transformation and value chain cluster of the
second quarter progress overview, Mr Maronge said in line with the National
Development Strategy (NDS 1) the provincial economy is moving up a number of
value chains as well as domesticating value chains.

 

 

 

Mr Abiot Maronge

 

“The structural transformation of the provincial economy is possible given
that the Midlands province’s manufacturing sector continues to exhibit
strong backward and forward linkages with mining and agriculture. The Second
Republic has completed over 800 out of 1 803 planned priority projects that
are aimed at uplifting the livelihoods of people across the eight
administrative districts of the province,” he said.

 

Mr Maronge said there is a need to promote sustainable and inclusive
economic growth through investment in value addition and beneficiation in
the agriculture and mining sectors which are the major raw material supply
bases.

 

He said some of the key companies which are contributing towards the US$12
billion mining economy include Dinson Iron and Steel Company in Manhize,
Mvuma, Unki Mine in Shurugwi, RZM Murowa Diamonds and Mimosa Mining Company
in Zvishavane and Zimasco in Kwekwe.

 

 

Dinson Iron and Steel Company

 

Mr Maronge said the Second Republic availed healthcare services by
constructing new health posts and clinics, renovating and rehabilitating
existing clinics and building houses for health workers.

 

 

“Over 15 new clinics were completed and seven clinics were renovated. Eight
pharmaceutical stores were established in the province. Over 300 primary
health facilities were installed with 8kva solar panels,” he said.

 

“There are, however, many other projects that are ongoing and teams are on
the ground working to ensure their completion within the shortest possible
time.”

 

On water and sanitation, Mr Maronge said a total of 109 Presidential
Boreholes and 135 by local authorities were drilled in the province.

 

 

 

He said the boreholes were drilled at chiefs’ homesteads and to over 200
primary health facilities.

 

“About 4 000 boreholes in all the districts were maintained and
rehabilitated. Government is also constructing Defe and Vungu dams as it
leaves no one and no place behind,” said Mr Maronge.

 

 

He said the Second Republic has constructed 48 schools and additional
teachers’ houses across the province.

 

“A total of 103 schools benefited from the construction of additional
classroom blocks and science labs. Ongoing projects include the construction
of 86 classroom blocks, 56 houses for teachers, and 27 administration blocks
in different districts across the province,” said Mr Maronge.

 

He said the Second Republic constructed Innovation Hub and an Industrial
Park for the Midlands State University (MSU) in Gweru in line with the 5.0
education model of putting theory into practice.

 

 

Midlands State University (MSU)

 

“The MSU completed the National Pathology and Diagnostics Centre
Laboratories, MSU Language Centre (which translates books and documents into
16 official languages), established the MSU Industrial Park which is into
garment making and fruit juice production,” he said.

 

Mr Maronge said a science laboratory was upgraded and equipped at Mkoba
Teachers’ College to capacitate teachers in the teaching of Sciences.

 

In line with the mantra “leaving no one and no place behind” and ensuring
that every corner of the country is connected, 17 Community Information
Centres were established, 40 ICT labs were established and 124 schools were
connected in the province.

 

“The Network Base Stations which were installed are Dendera Multi Operator
Radio Access Network (MORAN), Lundi in Zvishavane and Mapfungautsi in Gokwe
South as well as Lalapanzi  near Gweru. Eight Public Finance Management
System (PFMS) Kiosks were established in all the eight districts and 5 000
homes were reached with FTYH in Gweru and Zvishavane,” said Mr Maronge.

 

 

President Mnangagwa

 

“On women, community, SMEs and youth empowerment, the Second Republic
managed to establish the Micro, Small, and Medium Enterprises (MSMEs)
Clothing Cluster Capacitation project in Gweru. Women projects have had an
impact on socio-economic growth, thereby transforming lives.”

 

 

He said some of the life-changing projects include poultry, horticulture,
tailoring, retailing, food processing, detergent making, bakery and goat
breeding.

 

Mr Maronge said the Zimbabwe Women’s Microfinance Bank funded 15 229
projects  (women 12 466 and men 2 763) and the projects covered agriculture,
construction and property, energy and minerals,  manufacturing, trade and
services, transport and distribution.

 

 

“About 23 827 jobs were created and 37 368 jobs were sustained. About 14 000
MSMEs and cooperatives were trained in technical and business management
skills in costing, record keeping, entrepreneurship, patenting and branding
and cooperative registration,” he said.

 

Over 3 000 MSMEs were linked to domestic, regional and international
markets.

 

Mr Maronge said the Second Republic repaired and maintained feeder roads and
bridges that connect provinces and communities to ensure an easy flow of
socio-economic activities.

 

 

He said one such initiative is the construction of Gunguhwe Bridge which
links Gokwe South and Gokwe North as well as the Midlands with Mashonaland
West province.

 

“The Second Republic managed to construct 14 bridges, repaired 22 others,
gravelled a total of 316,7km roads and maintained 3 847km roads,” said Mr
Maronge.

 

 

Pfumvudza/Intwasa

 

He said 30 000 farmers benefited from the Livestock Production (Presidential
pasture production scheme) adding that all the districts also benefited from
the Presidential Poultry Pass-on Scheme and the Presidential Goat Scheme
where 400 goats and 30 000 chicks were distributed.

 

Over 475 000 households benefited under the Pfumvudza/Intwasa programme.
Some of the completed projects include the Zvishavane Community Archive,
e-passport offices in Gweru and Zvishavane, Manoti Registrar’s office in
Gokwe South and the upgrading of Kudzanayi long distance bus terminus in
Gweru.

 

The effort to improve the broadcasting services in previously unserved areas
saw the renewal of the Gweru FM Transmitter, construction of new tower
infrastructure for the Gokwe Senga Digital TV and Zvishavane Digital TV,
installation of 3-phase grid for Nembudziya Outdoor Viewing Screen and
transmitter installation for MSU Campus Radio in Zvishavane — herald

 

 

SCI constructs 754 mosques outside country in Q1 of 2023

Sharjah 24: During the first half of this year, the Sharjah Charity
International (SCI) has completed the construction of 754 mosques outside
the country, at a cost of 39.9 million dirhams.

 

The construction of these mosques is part of SCI’s construction projects,
and based on the desire of donors who wanted to sponsor the construction of
these mosques in remote areas of the countries included in the Charity’s
projects, compared to 624 mosques that were implemented during the same
period last year, an increase of 21%.

 

Mohammed Abdul Rahman Al Ali, director of SCI’s Project Management and
External Aid, confirmed the Charity’s keenness to choose remote areas that
lack service facilities to build mosques, as the project aims to facilitate
worship and rituals for the Muslims in these places, in a way that preserves
the identity of its residents and facilitates performing worship and
building houses of God.

 

Ali explained that 157 mosques were built in Niger, 119 in Ghana, 105 in
Uganda, 94 in Bangladesh, 39 in Sierra Leone, 33 in Egypt, 32 in Mauritania,
30 in India, 25 in Benin, 24 in Burkina Faso, 19 in Indonesia, and the same
in Senegal, 15 mosques in the Philippines, 13 in Malawi, 12 in Mali, 5
mosques in Togo, 4 in Thailand, 3 in Zimbabwe, 2 in Bosnia and Herzegovina,
and an average of one mosque in each of Guinea Conakry, Liberia, Sudan and
Comoros.-herald

 

 

 

 

Government says it is concerned with rising cement prices

Minister of Trade and Industry Simplex Chithyola Banda says the increasing
cement prices are affecting government construction projects as well
projects in the private sector.

 

 

Speaking on Monday when he met Captains of the Cement Industry in Lilongwe,
Chithyola Banda said government is aware that the private sector in general
and the cement industry in particular is going through challenges such as
forex scarcity causing price movements.

 

“We have received complaints from the general public about the high cement
prices on the market some as high as K20,000 per pocket. Government has big
ongoing projects which need a lot of cement hence the shortage must be
resolved promptly to mitigate high prices,” he said.

 

Chithyola Banda said his ministry will be communicating with the Ministry of
Finance to assist with forex to enable the cement companies buy clinker and
other raw materials.

 

Cement Product Limited (CPL) Managing Director Asiam Gaffar said cement
companies should not be blamed for the skyrocketing prices because they have
not raised prices.

 

“The shortage of cement on the market and the rising prices is due to acute
shortage of raw materials which has resulted in scaling down of production
by some players. The hiking of cement from around K13,000 to K20,000 per
pocket by importers is sabotage to the local industry and we need to source
forex to upgrade machinery and increase production,” Gaffar said.

 

Shayona Cement Managing Director Rajesh Patel said the cement players are
not happy with the increased price of cement products in the country
stressing his company is producing at 25 percent capacity due to scarcity of
forex and inability to import clinker.

 

Portland Cement Chief Executive Officer Jianguo Lin said the coal they buy
from Northern Malawi has so much Sulphur that cause kiln stoppages
necessitating coal imports from Zimbabwe to blend with.

 

 

 

UAE's Ellington, Dutco team up to develop premium residential projects in
Dubai

Dubai-based boutique developer Ellington Properties and Dutco, a UAE-owned
company with operations in construction, manufacturing, oil and gas and
hospitality, will jointly develop premium residential developments across
Dubai.

 

In the first phase of the partnership, two new waterfront projects will be
launched under the Dutco Ellington brand. 

 

No further details of the projects were given.

 

The collaboration forms part of Ellington Properties’ expansion strategy,
the developer said in a statement.

 

In January, Ellington Properties and Dubai Multi Commodities Centre (DMCC)
agreed to jointly develop a 1.2 billion UAE dirhams ($326.70 million) Upper
House, a new residential development in Jumeirah Lakes Towers.

 

LMD, the leading real estate company, has proved its full commitment to
clients and implementing its projects according to its timeline through the
continued progress of construction works in Zoya Ghazala Bay, its latest
coastal project, in one of the most exclusive locations of North Coast at
Ghazala Bay, Sidi Abdelrahman.

 

The Company finished 100% of the concrete works in (Cluster 1, Cluster 2,
Cluster 3 and Cluster 4), and reached 100% of the external front’s painting
works, and completed the installation of the external facades. Adding to
preparing the internal painting for Cluster 4, finishing all the external
painting works of Cluster 3, as well as finishing the construction works of
Cluster 2. Moreover, the earthwork for most of the entire residential area
of the project has been completed, and implementing the concrete works of
different residential models in the project, including the reinforced and
traditional concrete of the foundation for a number of units of the
One-Story Villas model and the Sea Villas model and Signature Villas model.
Finally, LMD is in the finalization process of the frameworks of slabs and
columns, in addition to all earthworks of the Twin and Townhouses model. On
the other side, the company completed the casting of raft foundation in
Coconut Bungalows by Coconut Hotel Boutique, while the earthworks of the
first phase’s Lagoon are ongoing on an area of 28,000 m, beside the pool
which is existed in the first phase of the Lagoon, the project is set to
begin delivering its various units in 2025.

 

Zoya Ghazala Bay spans over 129.66 feddan, with a total investment of EGP
8bn, and is expected to be the sparkling jewel of Ghazala Bay and the whole
North Coast. A sanctuary emerging from nature, Zoya Ghazala Bay unites
modern architecture with the beauty of nature. It is located in Ghazala Bay
at 142 km, Sidi Abdelrahman, only 3 hours from Cairo, making it the first
choice for anyone who seeks serenity and beauty in the heart of this
untouched nature and purely fresh air.

 

The project embodies an exemplary model of coastal development, despite the
project’s vast area, the total built-up area covers only 15% of the total
area, where the project’s total built-up area is 153,000 sqm, divided into
three phases with a variety of units offerings, including standalone villas
overlooking the sea, pools, and lagoons, as well as twin houses, townhouses,
chalets, and cabanas starting at 120 sqm. The built-up area will be
constructed on gradually-ascending levels, allowing residents and visitors
to enjoy the picturesque views of the waterscape and green areas.

 

Recently, LMD launched a new area in the project under the name of “Rituals
Village” to be a new form of the charming coastal life in Zoya Ghazala Bay
with its luxurious serviced apartments under the management of TLT Signature
Hotels. It will present a group of integrated distinct services for
residents and visitors, where it targets those who want to enjoy the
magnificent beach life with high-quality services including, housekeeping,
concierge, private shaded surface parking, security and safety, laundry and
maintenance services, along with a group of the best F&B experience,
providing many international cuisines. Rituals Village grants the residents
an unmatched level of privacy through Private passes in and out, Gym & Spa,
Pool, and a private Club House, in addition to a vast Landscape walkable
experience, cycling lanes with water features, and direct access to the
Retail Strip on the road of Zoya.

 

Eng. Amr Sultan, the CEO of LMD, confirmed the importance of this step,
stating: “We intend to use all of our resources to complete the construction
of the various phases of the Zoya Ghazala Bay project on the specified time
plan. This project is a one-of-a-kind and exceptional example of elegance in
the Ghazala Bay region. We intend to present this project as a refined
example of how coastal projects should be, and how they could diligently
cater to various needs of residents and visitors through exclusive service
offerings that always exceed clients’ expectations. In addition to giving
them an unmatched level of privacy and luxury away from the crowds of the
capital, we at LMD are excited to transform Zoya Ghazala Bay into the ideal
vacation spot all year round not limited to the summer. Aiming to have Zoya
Ghazala Bay participating in achieving the government goal of making the
North Coast region a vital area for investment and a well-integrated
metropolis that many people from inside and outside of Egypt look forward to
living in.”

 

Zoya Ghazala Bay is distinguished by its totally-distinctive design,
services, greeneries, and landscapes, where the project’s master plan was
creatively designed by Archi-View, which has impressive experience in
constructing integrated urban communities by introducing innovative ideas
and out-of-the-box solutions to blend elements of nature with smart use of
spaces. In order to enable easy access and mobility inside Zoya Ghazala Bay,
LMD will establish a network of roads and promenades that connects the
project’s key components and avail mobility options leading to public areas
and service outlets, including entertainment, hospitality, waterpark, and
sports facilities that fit everyone’s needs. While the Architecture designs
of Zoya were soulfully designed by the internationally acclaimed Alchemy
Architecture, one of the most reputable architecture companies around the
globe, offering a line-up of waterfront homes ranging from Standalone
Villas, Twin and townHouses, Chalets and Cabanas to redefine coastal
comfort. LMD is targeting EGP 10bn in revenues from Zoya Ghazala Bay.

 

 

IGI Developments plans to launch 4 commercial, administrative projects in
west Cairo

IGI Developments will launch four non-residential projects soon in west
Cairo, Managing Director of IGI Developments Sherif Moustafa has said.

 

Moustafa added that the company’s land bank is approximately 350,000 sqm.
The four planned projects are an administrative project in 6th of October
City, a 15,000-sqm school, a mixed-use project on 50,000 sqm on Wahat Road
with total investments of EGP 13bn, and a commercial project on Wahat Road
with an area of 11,000 sqm.

 

“The company intends to offer a new 540-feddan project in New Sphinx City,”
Moustafa said. “As a part of its current strategy, IGI Developments adopted
a policy of accelerating the construction rates of its projects.
Accordingly, it was able to deliver 1,000 units in 2022. Besides, another
1,000 units are scheduled to be delivered over 2023 out of which 500 units
have already been delivered despite the increase in construction costs.”

 

Moustafa disclosed that the company aims to accelerate construction and
development rates by pumping at least EGP 1bn into the construction of its
projects during the current year to fulfill commitments to its clients.

 

IGI Developments developed a series of projects including Gardenia Park II,
Gardenia Springs, Ashgar Heights, and Ashgar City. The company has delivered
projects with a population of more than 30,000, equivalent to 7,000 families
over the past 30 years. Upon the completion of all units in its projects,
the total number of residents of IGI Developments’ projects would reach
60,000 people or 15,000 families.

 

As for the current changes in the real estate market, IGI Developments’
Managing Director explained that the lack of a clear vision compromised real
estate companies’ ability to develop proper work plans and sound feasibility
studies for their projects.

 

Moustafa added that the real estate market suffers from the uncertainty that
resulted in a lack of fair pricing of essential construction materials,
including iron, copper, cement, and aluminum, the prices of which have
doubled since 2019.

 

“IGI Developments plans to participate in exhibitions in Arab countries
other than Saudi Arabia during 2023 to make use of the big demand for
Egyptian real estate products by Arab clients seeking to benefit from the
difference in exchange rate and the huge facilities provided by Egyptian
companies,” he explained.

 

“Among the projects that were promoted at the exhibition is Ashgar City, a
project in 6th of October City with a total area of 148 feddan. IGI
Developments also promoted the Ashgar Heights phase, and Starla Views which
also includes villas,” he concluded.

 

 

Alfanar Construction, a key division of Alfanar Group, begins a new era as
Alfanar Projects

Saudi Arabia - Alfanar Construction, a part of the Saudi conglomerate
Alfanar Group, recently unveiled its new name and website.

 

The company has officially changed its name to Alfanar Projects to reflect
its evolution into an integrated global project developer, engineering
construction and technology solutions provider.

 

Founded in 1976 in Riyadh, the company has witnessed immense growth over the
past four decades. Several divisions and business units have been
established to provide integrated solutions across grid, water,
infrastructure, renewable energy, healthcare, process, and digital sectors.

 

In the last decade, Alfanar Projects, through its project development arm,
has also forayed into sustainable development with a growing portfolio of
1.75 GW renewable energy projects including wind farms in India and Spain,
and a solar park in Egypt. It is also developing and constructing the most
advanced sustainable aviation fuel (SAF) facility in Europe – ‘Lighthouse
Green Fuels’ in Teesside, UK. And this year, Alfanar Projects announced an
investment of SAR 10 billion in a public-private partnership (PPP) with NEOM
to develop and operate sustainable residential communities.

 

During the launch ceremony, Sabah Al Mutlaq, Managing Director of Alfanar
Projects and Vice Chairman of Alfanar Group remarked, “From our humble
beginnings as a local contractor in Kingdom of Saudi Arabia more than four
decades ago, we have evolved into a global force with an overall estimated
portfolio size of $25 billion. This rebrand underscores our growth and
solidifies our business plans to further acquire new technologies and expand
into new markets.”

 

He added, “We have constantly embraced a culture of innovation and invested
in research & development. Our core value of quality, and our commitment
towards client satisfaction has also helped us in creating an unrivalled
reputation that we are well known and trusted for. This is a new era for
Alfanar Projects, and we look forward to playing a pivotal role in
addressing global challenges.”

 

As a global company with Saudi roots, Alfanar Projects is playing its part
in supporting the realization of the ambitious Saudi Vision 2030 through
renewable energy and infrastructure projects, and through ground-breaking
digital transformation projects such as the installation of five million
smart meters across the central and eastern regions of Saudi Arabia.

 

 

Construction sector at highest production value since 2019

In May, the Mexican construction industry registered its highest production
value since 2019, according to a survey conducted by the national statistics
agency (INEGI).

 

According to the National Survey of Construction Companies (ENEC), the
production value registered a monthly increase of 7.8% and an annual growth
of 18.2%, making for three consecutive months of growth.

 

Month-on-month, employment grew by 1.1%, worked hours by 0.4%, and average
wages by 1.6%. Compared to 2022, employment grew by 1.8%, worked hours by
7.3%, and average wages by 3.6%.

 

The survey also showed that the civil engineering subsector registered the
highest performance, surpassing the building subsector by 2.5%. This result
is linked to the construction of President López Obrador’s flagship
infrastructure projects like the Maya Train.

 

Nearshoring is also thought to have boosted the construction sector’s growth
as the relocation of multinational manufacturing companies has brought
increased industrial construction in the central and northern regions of the
country.

 

In an interview with the newspaper El Economista, analyst Ricardo Trejo said
that May’s good results are likely due to both investment in the public and
private construction industry, as well as INEGI’s updated survey
methodology. 

 

This new methodology takes 2018 as the reference base year, has a test
framework of 19,450 companies (integrated from the Mexican Business
Statistical Registry), includes construction companies with a production
value of over $73 million pesos per year (US $4.3 million) and over 250
workers.

 

After analyzing the INEGI’s report, Grupo Financiero BASE said that “at an
annual rate, most of the construction sectors have shown growth, except the
category of ‘other constructions,’ which fell 10.03% in May.” 

 

In an independent report published in May, Grupo Financiero BASE found that
this subsector had recorded two months of deficit at an annual rate.
Meanwhile, construction works related to water, irrigation and sanitation
increased by 65.2%, registering 13 consecutive months of growth.

 

Works relating to transportation and urbanization grew by 62.1%, registering
their second month of growth after 14 consecutive months of deficit, and
projects related to electricity and telecommunications registered 10 months
of growth, with a 59.94% increase over May of last year.

 

 

Leading economists call for 2% increase in building construction spending in
2024

All nine economists are in agreement on a 2024 spending-growth slowdown. Two
economists are calling for a contraction in spending (Wells Fargo, -1.0%;
Piedmont Crescent Capital, -4.7%). ABC's Anirban Basu is the most bullish on
2024, predicting a 7.7% increase in overall building spending.

 

"The first half of this year has seen gains in construction spending on
nonresidential buildings approaching 20%. However, this scorching growth
rate is expected to moderate a bit moving into the third and fourth
quarters," wrote AIA Chief Economist Kermit Baker, Hon. AIA, in the report.
"Even with the easing in supply chain issues and the improved pricing of
many construction materials and products, elevated interest rates, more
restrictive lending on the part of banks, nervousness over the direction of
the economy, and construction labor constraints are expected to slow the
pace of growth."

 

Bright spots for the remainder of 2023 and 2024 include:

 

Healthcare, driven by the aging baby boom population

Manufacturing/distribution, thanks to the post-Covid reshoring of production
resulting from supply chain issues during the pandemic

Hotels, with leisure travel returning to normal following the pandemic

Education, as school districts and higher education institutions play
catch-up on projects in the wake of Covid.  

"There are emerging concerns that outsourcing the manufacturing of high-tech
products leaves our economy and national defense more vulnerable," Baker
wrote. "The $280 billion in funding provided by the 2022 federal CHIPS and
Science Act is designed to advance domestic research and manufacturing of
semiconductors in the United States. These funds will boost spending for
these facilities for much of the coming decade."  

 

View the full AIA Consensus Construction Forecast Panel report, including an
interactive table with market forecasts from all nine economists. 

 

 

 

 

 

 

 


 


 


Invest Wisely!

Bulls n Bears 

 

Cellphone:      <tel:%2B263%2077%20344%201674> +263 77 344 1674

Alt. Email:       <mailto:info at bulls.co.zw> bulls at bullszimbabwe.com  

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Skype:         Bulls.Bears 



 

 

 


 

INVESTORS DIARY 2023

 


Company

Event

Venue

Date & Time

 


 

 

 

 

 


 

 

 

 

 


 

 

 

 

 


POSB

AGM

Chapman Golf Club

July 25 2023 |10am

 


Afdis

AGM

Virtual | St Marnocks, Lomagundi Road, Stapleford

July 26 2023 | 12pm

 


RTG

AGM

Rainbow Towers Hotel

July 27 2023 |12pm

 


ZHL

AGM

206 Samora Machel Avenue

July 28 2023 | 10am

 


Delta

AGM

Virtual | Head Office, Northridge Close, Borrowdale

July 28 2023 | 12:30pm

 


 

Heroes’ Day

 

Aug 14

 


 

Defence Forces Day

 

Aug 15

 


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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