Construction and Property Corner ::: 31 July 2023

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Construction and Property  Corner ::: 31 July 2023 

 


 

 


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

 


 

 


 

ü  Kwekwe CBD expansion attracts US$22m investment

ü  ZimRe to launch signature projects in Vic Falls, Mazowe

ü  Fake realtors inflict pain, losses on property seekers

ü  S.African realtor Liberty Two Degrees posts 7.4% rise in interim profit

ü  S.African realtor Liberty Two Degrees posts 7.4% rise in interim profit

ü  Cape Flats may be next big area in which to invest

ü  Real estate sector to witness slow growth – Report

ü  Proptech will cut project costs by 50%, say experts

ü  Mace calls for construction export tax credits

ü  Proposed employment law changes could put construction workers’ lives at
risk, says CIOB

ü  Construction begins on new boat ramp and temporary car park at Weinam
Creek

ü  Revolutionizing the Construction Industry: The Power of BIM Software

ü  Biggest apartment construction boom in decades likely to bring renters
uneven relief

ü  Macrotech Developers Invests Rs 1,000 Crore On Construction In Q1

ü  How Technology is Shaping the Future of Construction and Demolition in
North America

ü  Greece starts construction of 35-km fence on Turkish border

ü  Construction business leaders remain confident in sector stability
despite national insolvency crisis

 


 

 


 <https://www.willdale.co.zw/> Kwekwe CBD expansion attracts US$22m
investment

KWEKWE City Council’s central business district (CBD) expansion project has
attracted more than US$22 million in new investment as businesses seek to
tap into the new opportunities.

 

The local authority has embraced the smart city concept as it moves to the
new CBD where a number of new buildings are being constructed.

 

The Government is working on embracing the smart city concept as a
prerequisite for “leaving no one and no place behind”, a major thrust under
President Mnangagwa’s inclusive empowerment drive.

 

A smart city is one that uses information communication technologies to
improve operational efficiency, share information with the public and
provide better quality Government services and citizen welfare.

 

The country made a decision to create smart cities and the Government of
Zimbabwe adopted these principles in 2018 at the advent of the New
Dispensation.

 

Kwekwe has already serviced the land for the new CBD Railway Reserve and
commercial malls are earmarked to be developed at Mbizo 21, 17, Extension
and Southwood Shopping Centre.

 

The local authority is working with the Zimbabwe Investment and Development
Agency (Zida) in packaging and marketing investment opportunities and has
lured several investors. The development is set to create more job
opportunities for locals.

 

Zimbabwe Investment Development Authority (Zida)

 

To facilitate private sector-led investment, the local authority is working
on improving the ease of doing business and reducing the costs to ensure an
enabling environment for investments to thrive.

 

Kwekwe town clerk, Dr Lucia Mkandla, said the ease of doing business has
seen investors flocking to the city’s new CBD, where construction work is at
various stages.

 

“Investors are coming to Kwekwe because they are encouraged by our
governance approach. The total investment is estimated at US$22 million. As
administration our role is to encourage investors to develop land as opposed
to keeping it for speculative purposes,” she said.

 

Dr Mkandla said the local authority follows up to see if the investors are
adhering to the city’s set conditions for development.

 

“We do follow-ups to ensure adherence to our conditions for development. We
are also proud to note that we are the only city that has constant water
supplies throughout the week and has a clean and peaceful environment,” she
said.

 

Kwekwe has investment opportunities for strategic partnership in areas such
as wire making, iron and steel, ferrochrome, fertiliser manufacturing,
mining and other related industries.

 

Some of the investors include Global Union Alloys, Bentouch, OK Zimbabwe
(Bon Marche), DCK, Dendairy and Zimasco. Priority investment opportunities
include biogas production, solar power generation, quarry stones crushing
and water bottling.

 

The council’s finance committee chairperson Councillor Silas Mukaro has said
the local authority is providing an enabling environment for private sector
investment to thrive.

 

“This has seen more investors coming to invest in the city and creating
employment. We are working closely with Zida in packaging and marketing our
investment opportunities,” he said. — chronicle

 

 

 

 

ZimRe to launch signature projects in Vic Falls, Mazowe

DIVERSIFIED investment group ZimRe Holdings (Ltd) is set to launch signature
projects in Mazowe and Victoria Falls as it turns its focus to
infrastructural and national landmark developments.

 

The firm has since received development permits for the areas, according to
ZHL group chief executive officer Stanley Kudenga.

 

“As the group celebrates a 40-year legacy, we are making strides to steer
the ZHL group to 
 market leadership and grow sustainable value for the
groups’ shareholders,” Kudenga told shareholders on Friday at the annual
general meeting.

 

“Accordingly, ZHL has turned its investment focus to infrastructure and
national landmark project development. The group has registered a real
estate investment trust (REIT) named the Eagle REIT, which will be launching
two signature development projects in Mazowe and Victoria Falls.

 

“The location of these developments is not by chance as the group seeks to
urbanise the communities and address the housing deficit at all levels of
society.”

 

In line with the group’s intention to strengthen regional operations’
underlying capacity, Kudenga said they had secured regulatory approval to
inject capital into Emeritus Re Mozambique, with the first payment having
been successfully deployed to the unit.

 

Similarly, he revealed that the company recently attained approval to
integrate its Botswana operations into Emeritus International.

 

“Our regional operations remain a key strategic investment and hedge against
a volatile business unit environment,” he said.

 

According to the group’s trading update for the five months to May 2023,
regional reinsurance operations contributed 54% to its total gross premium
written and 36% to total income with Emeritus Malawi posting significant
contributions to regional performance at 48% and 21%, respectively.

 

During the period, Kudenga said the life and pension cluster contributed 31%
to the group’s total revenue, while local insurance and reinsurance
contributed 23%.

 

He said the growth in the life and pension cluster was driven by individual
life premiums through the success of the Vaka Yako product.

 

Local reinsurance operations during the period also recorded an improved
claims experience which decreased 49% compared 2022, while reinsurance
recorded 51% improvement.

 

ZHL has core competencies in the insurance value chain, real estate industry
and wealth management.-newsday

 

 

 

 

Fake realtors inflict pain, losses on property seekers

The growing number of fake realtors in Zimbabwe is causing immense pain and
losses to many unsuspecting clients through property fraud, Estate Agent
Council of Zimbabwe (EACZ) said.

 

Fake realtors are using various media platforms to advertise houses for
letting and sale and then fleece innocent property seekers. The unscrupulous
elements are also conniving with fake lawyers to trick unsuspecting
home-seekers.

 

According to EACZ board chairman, Nico Kuipa, the council in June
blacklisted 74 real estate companies operating in parts of the country for
failure to register with the council and fleecing unsuspecting home seekers
of their hard-earned money.

 

“A recently published illegal and unregistered estate agency called Riverrun
Properties was on 10 July 2023 convicted for contravening Section 60(1)(b)
of the Estate Agents Act [Chapter 27:17], practicing as an estate agent
without being registered. The company was fined US $500 or ZWL equivalent at
the prevailing interbank rate,” he said.

 

Bogus realtors use various tricks to lure homeseekers and the EACZ is thus
advising people to only deal with reputable estate agents to protect their
investments.

 

“EACZ was established as a regulatory body in the 1970s in terms of the
Estate Agents Act [Chapter 27:17] to register real estate agents and control
the practice of estate agency in Zimbabwe,” Mr Kuipa said.

 

Its duties are outlined in section 4 of the Act and include the registration
of persons practising as estate agents in Zimbabwe, as well as exercising
disciplinary powers over estate agents and agencies.

 

The board chairman added that the EACZ further ensures that the standards of
competence and conduct of estate agents in Zimbabwe are high to protect the
public on top of managing the compensation fund, which is managed by EACZ in
terms of sections 37-50 of the Estate Agents Act [Chapter 27:17].

 

The estate agents council, therefore, encouraged them to check for the
current-year compensation fund certificate provided by EACZ to uncover fake
realtors.

 

This certificate is issued annually under the company’s name and includes
the name of the principal registered estate agent.

 

Estate agencies must display the compensation fund certificate at their
office reception, EACZ said.

 

The registered estate agents have been cornered by the unlicensed agents and
the market is now congested. Innovative young entrepreneurs need to think
outside the box and bring up a sophisticated and disruptive system
proposition that tracks illegal real estate agents to protect the local
property rental market.

 

“Unaccounted real estate fraud cases are being reported every day to the
police across Harare, other cities and towns.

 

Most Zimbabweans are losing their hard-earned money to fake agents.
Accordingly, EACZ encourages the public to avoid dealing with bogus realtors
no matter how tempting the deal may be.-herald

 

 

 

 

S.African realtor Liberty Two Degrees posts 7.4% rise in interim profit

(Reuters) - South African commercial property group Liberty Two Degrees
(L2DJ.J) said on Monday its half-year distribution, or part of the profit
that will be distributed as dividends, rose 7.4%.

 

Its distribution per share - the primary measure of profits in real estate
investment trusts (REITs) - rose to 18.77 South African cents in the six
months ended June 30, from 17.48 cents a year earlier.

 

The company, like the rest of the property sector in South Africa, had to
contend with rising interest rates and high cost of serving debt amid
rolling blackouts.

 

Its majority owner Standard Bank (SBKJ.J) said last week it would buy out
minority shareholders of the company and de-list it to reward shareholders.

 

L2D distributed 100% of profits to shareholders, consistent with the
previous year. REITs operating in South Africa are required to distribute at
least 75% of their profits to shareholders.

 

The Thomson Reuters Trust Principles.

 

 

 

 

S.African realtor Liberty Two Degrees posts 7.4% rise in interim profit

(Reuters) - South African commercial property group Liberty Two Degrees
(L2DJ.J) said on Monday its half-year distribution, or part of the profit
that will be distributed as dividends, rose 7.4%.

 

Its distribution per share - the primary measure of profits in real estate
investment trusts (REITs) - rose to 18.77 South African cents in the six
months ended June 30, from 17.48 cents a year earlier.

 

The company, like the rest of the property sector in South Africa, had to
contend with rising interest rates and high cost of serving debt amid
rolling blackouts.

 

Its majority owner Standard Bank (SBKJ.J) said last week it would buy out
minority shareholders of the company and de-list it to reward shareholders.

 

L2D distributed 100% of profits to shareholders, consistent with the
previous year. REITs operating in South Africa are required to distribute at
least 75% of their profits to shareholders.

 

-The Thomson Reuters Trust Principles.

 

 

 

Cape Flats may be next big area in which to invest

The affordable property market, especially properties situated in the
townships for below R700 00, is one of the most underestimated property
markets in South Africa.

 

It is here where I predict we will see massive growth with it having all the
credentials - such as high demand, government assistance available, and
affordability - to outperform the more traditional markets.

 

Looking back over the past three years South Africa has experienced
devastation because of anti-Covid19 strategies and has left the South
African economy spinning.

 

In the current situation, property experts and academics believe the
property market in general will not beat inflation during this financial
year.

 

So we are seeing expectation and forecasting for property value growth set
at between only 3% and 4%.

 

However, some of us believe this will vary between various property
segments.

 

The property market in South Africa has seemingly proven to be resilient and
has grown despite its many challenges, including the hard lockdowns of 2020
and 2021 that completely shut down the industry for business.

 

I believe rapid urbanisation is one of the things that will bump up the
affordable market as people seek better opportunities and seek to contain
their spend.

 

Urban population has in fact been growing on average by 2% per year for the
last decade, and it is estimated that by 2030, 71% of South Africa’s total
population will be living in urban areas and cities, according to the Centre
for Affordable Housing Finance in Africa (CAHF).

 

Provincially, we have seen a rise in semigration from other provinces to the
likes of Western Cape, Cape Town in particular and other coastal cities in
the hopes of finding better opportunities.

 

Cape Town’s unemployment accounted for only 26% versus the much higher
national average.

 

The uncertainties of prolonged and further interest rate hikes - another one
of 25 basis points is expected later this month - growing inflation, ongoing
war between Ukraine and Russia, next year’s national general elections in
South Africa and diplomatic tussles have left many in limbo and rightfully
worried about the bleak future facing us today.

 

Despite these challenges, I believe growth in the national property market
will continue.

 

Conventional wisdom in the property industry believes that every 20 years
there will be an upturn in the property market.

 

But with growth being average over the last few years, we have not seen this
upturn as before in the “known affluent market”. In the 1980’s and 2000’s we
saw significant growth in the property sector. But the country is still to
face the next upturn cycle, which was suppose to be 2020, but Covid19
stifled this.

 

I believe the anticipated upturn in property could however be experienced in
the affordable market as the need for housing under the R1 million is
growing rapidly throughout the country.

 

The evidence is seen in the growth in urban areas and surrounds. The CAHF
indicated that majority of households (83% in 2021) live in a formal
dwelling in metropolitan areas, while 15% live in informal dwellings. As of
2021, nationally 69.7% of households owned their home and 18.7% rented.

 

The kasi (informal settlements) phenomenon of micro rental units and the
ever-increasing backyarder growth has escalated and has become a vital
informal strategy to the housing demand.

 

The affordable market has for years been experiencing critical housing
shortages, thus property has become big business in these areas.

 

I am of the belief that this sector offers so much and will become very
profitable for many local investors. I also believe it has the potential to
beat inflation.

 

But who is funding the informal sector, why is there such a reliance on this
particular sector?

 

We have seen the likes of DAG, THUF and other financing companies assisting
people living in the townships helping to formalise housing. It has created
many opportunities in this market.

 

The conventional market also puts many South Africans outside the government
subsidy/FLISP programme. Property values of R600 000 and more in value
and/or people earning more than the R22,000-household income bracket fall
out of the help of Flisp.

 

The rental market will also continue to grow as professionals seek
accommodation and semigration grows, increasing the demand for more rentals
across the country, and making the buy-to-let market potentially thrive.

 

Soaring interest rates and political instability will increase chances of
the rental market expanding rapidly over the next few years.

 

I am of the view that the affordable market will attract more formal
investment and will become a significant player in the property market.

 

>From an investor point of view to make money here you need street smarts.
You need to understand how things work in the areas and need practical
solutions to solve everyday problems in this market.

 

At its best the market is known to offer as much as 30% to 40% return on
investment, while decreasing your capital outlay as apposed to the more
affluent areas.

 

Case in point, property prices have grown exponentially in this market in
the past decade.

 

The value of an average three-bedroom property purchased in Mitchells Plain
in 2009 for R340 000, has today grown by more than 300%.

 

It is clear the upturn has already been experienced in the affordable
market. The market has changed over the years and there is lots of room for
growth and opportunity in these areas.

 

Watch this market, and if you can - invest in it.

 

* Francis is an award winning property investor and was the SA Property
Investor Network’s Investor of the Year in 2021. Francis also coaches
aspiring property investors to make their first million and his book
“Failing to my success, a failure’s guide to making millions in the property
market,” is due to be released this year. In the book Francis lays bare his
journey from the harrowing ganglands of the Cape Flats to become the
country’s top property investor.

 

 

 

 

Real estate sector to witness slow growth – Report

 

A report by a real estate company, Ubosi Eleh and Co, has predicted that the
housing sector will witness slow growth throughout the rest of 2023.

 

In the Nigeria Real Estate Report, the firm expressed optimism that the
sector would in 2024.

 

According to the report, the sector’s slow growth is linked to high
inflation, poor regulations, and macroeconomic challenges facing the
country’s economy.

 

It said, “Lagos and Abuja had benefitted most in terms of real estate
investment driven by the high level of insecurity in the country and that
this trend would continue.

 

“Amongst its projections is that the demand for medium-sized retail space
for shopping complexes, shopping centres, corner and neighbourhood shops
would be positive and high.

 

“The real estate market would witness slow growth all year with a chance of
a rebound in 2024, depending on the state of the economy.”

 

The report also stated that the country’s underdeveloped Real Estate
Investment Trusts Industry had caused the low rate of homeownership in
Nigeria.

 

 

It said the Nigerian REITs began in 2007, about six years before REITs began
in South Africa in 2013 and about five years after REITS began in Singapore
in 2002.

 

According to market experts, Nigeria’s REIT is worth $0.2bn, compared to the
UK’s $73bn, Singapore’s $34bn, and South Africa’s $19bn.

 

They added Nigeria had a seven per cent return on investment compared to
Singapore’s 16 per cent. South Africa’s 15 per cent, and Kenya’s nine per
cent.

 

“The low rate of homeownership in Nigeria is also attributed to the
country’s underdeveloped Real Estate Investment Trusts (REITS) Industry,
which tags in terms of investment volume, market capitalisation, and returns
on investment.”

 

Despite this outlook, it maintained that the industry remained the “asset
class of choice in Nigeria.”

 

“The outlook of the report for real estate in 2023, now in the seventh month
is nonetheless promising, emphasised with the comment that real estate
remains the assets class of choice in Nigeria, the various challenges
notwithstanding,” the report concluded.

 

 

 

Proptech will cut project costs by 50%, say experts

Experts at the recently concluded Africa International Housing Show in Abuja
have stated that incorporating property technology, or proptech, can
potentially cut project costs by up to 50 per cent.

 

They stated that avoidable costs such as agent fees can be eliminated
through the use of Artificial Intelligence virtual inspection while a simple
and transparent process financing platform could be utilised to build
investors’ trust.

 

Speaking during a proptech session at the event, which was themed “Research
for affordable housing policy and delivery in Africa”, the experts said
proptech would unravel issues on crowdfunding, construction management,
alternative financing window, cheaper marketing strategy, among others.

 

The Chief Executive Officer of Octo5 Holdings Limited, Babajide Odusolu,
said technology had been created to fast-track the actualisation of
opportunities in the real estate sector, which would reflect on product
price.

 

He said, “Proptech is the use of applications of information technology and
platform economics to boost the real estate industry. It is an interface of
technology and real estate.

 

“These platforms using your mobile phones make it possible to scale up
businesses speedily. Prop tech will make your business transparent to you
and your investors.

 

“For instance, costs on project developments can be reduced by 50 per cent.
A minimum of 15 per cent of project cost goes to compliance and design cost
and 35 per cent on land and services but with the adoption proptech
platforms, developers can slash compliance costs by half, simply by using
technology.”

 

 

According to him, proptech can simplify financing platform and help real
estate operators to access funds easily.

 

Reeling out other advantages of proptech, the former Managing Director of
Ogun State Property Investment Corporation, said the deployment of
technology in housing would lower transaction and financing costs and tap a
formal source of crowdfunding.

 

“Technology lowers development and marketing costs across the entire
spectrum. It gives access to a larger market and ensures that residual
income is predictable,” he noted.

 

The Chief Executive Officer of Prop Crowdy, Roland Igbinoba, claimed over
2.5 million enterprises in the real estate value chain suffered from high
interest rates and had no alternative financing window, signaling a need for
a crowdfunding intermediary platform.

 

On his part, the CEO of Haap Living, Ezekiel Bassey, recommended co-home
ownership, roommate matching, and virtual inspection as ways to make housing
affordable for young people without reducing profits.

 

“Thinking from a deficit angle, we have to see how to optimise existing
housing stock, creating more with less space. This could be more people
staying in a single space but demarcated to share facilities.

 

“With this method, rent seekers can save up to 35 per cent while the owner
of the facility can earn 50 per cent more.”

 

 

The CEO of Sytemap, Ndifreke Ikokpu, explained that the digital process
would reduce sales procedures by 50 per cent, lessen human error and
duplicate allocations, automate payments and payouts, and build more trust
allowing a borderless diaspora market.

 

 

Mace calls for construction export tax credits

Mace has called on the government to offer tax credits to companies
exporting design, engineering and construction services.

 

The contractor, which operates in five continents, says in a new report that
the global market for British construction expertise could be worth £11.5bn,
if construction’s share of UK exports were to rise by a modest amount, from
0.4 per cent to 1 per cent.

 

In the research paper, Mace  calls on the government to do more to promote
construction exports, including by prioritising the sector in negotiations
on trade and mutual recognition of construction-related qualifications, and
by targeting more government-to-government infrastructure contracts.

 

Mace says that UK expertise has the potential to unlock a £400bn boost to
the delivery of infrastructure programmes around the world, while 142,000
jobs would be created if construction exports increased to a 1 per cent
share of UK exports.

 

Mace also published a construction-partner index showing the top
international targets for the export of construction services, with the
United Arab Emirates, Bangladesh, the Philippines and Argentina among the
fastest-growing markets.

 

The rapid urbanisation of emerging markets and the urgent need to build more
sustainable infrastructure have combined to spur demand for construction
expertise, it notes.

 

The report highlights the potential of the delivery-partner model – an
integrated and collaborative approach used to deliver some of the world’s
most complex projects, including the London 2012 Olympic and Paralympic
Games, Dubai Expo 2020, and a multibillion-pound resilience and recovery
programme in Peru.

 

“Although it might not always be recognised at home, the UK’s construction
expertise is highly valued around the world – from Peru to Singapore, the
British are known as straightforward delivery experts,” said Jason Millett,
chief executive of Mace’s consultancy business.

 

“This report highlights the huge growth on offer if we can capitalise on
that reputation and help to deliver more of the world’s global
mega-projects.

 

“By working together, the government and industry have the potential to
create thousands of highly paying export jobs – as well as partnering with
government and private developers across the world to ensure that vital
infrastructure programmes can be delivered on time and on budget.”

 

 

 

Proposed employment law changes could put construction workers’ lives at
risk, says CIOB

Eddie Tuttle at the Chartered Institute of Building (CIOB) says a government
proposal to amend several areas within retained EU Law, in particular
employment law, could have a detrimental impact on construction safety. 

 

While I understand red tape is a bone of contention for many, it is there to
protect employees from harm. Alarming statistics show the construction
industry leads the league table for frequency of work-related deaths with a
total of 45 just in 2022 alone. In the same year, 40 people nationwide
tragically died from falling from height while at work. That’s why CIOB is
challenging the Government’s consultation around potential amendments within
retained EU Law – namely within employment law.

 

New plans outline the Government’s intent to scrap the current
record-keeping requirements for the Working Time Regulations, which requires
employers to maintain an objective, reliable and accessible system that
measures the duration of time worked each day for every worker. These
records, which CIOB believes are essential, are required to ensure workers
get their minimum daily rest period of 11 consecutive hours within each
24-hour period and a minimum uninterrupted period of 24 hours rest in every
seven-day period. Restrictions on working time are not enforced and CIOB
wants the Government to do more to enforce the restrictions rather than
doing the opposite by removing record-keeping requirements and undermining
businesses’ accountability for complying with the regulations.

 

In a high-risk industry like construction, where workers often use heavy and
dangerous machinery and work from height, ensuring everyone has adequate
rest between shifts should be the minimum expectation of employers. Put
simply, by removing the need for these records to be kept and maintained,
employees’ health is being put at risk. And it is not only workers’ physical
wellbeing that could be at risk but also their mental state of mind. A CIOB
report in 2020 revealed how long working hours made the biggest difference
to construction workers’ wellbeing, followed by job uncertainty, tight
deadlines, financial pressures, and working away from home. Almost half of
those surveyed (48.3%) had taken time off work because of unmanageable
stress and mental health issues, which had increased by 18% from the
previous year. A concerning 26% of individuals reported they had experienced
suicidal thoughts at least once during their career.

 

CIOB is equally concerned that pressure to work longer hours could also be
more of a risk without records and this is of particular concern for workers
who may be more vulnerable to exploitation, such as the high number of
migrant workers in the sector.  After consultation with our members, I am
also keen to challenge two other areas highlighted in the recent
consultation.

 

Firstly, and on the subject of financial pressures, the Government is
seeking views on potentially changing the way holiday pay is calculated.
Under current law, employees are entitled to four weeks at normal pay
(inclusive of overtime and bonuses) and a further 1.6 weeks at basic pay
(pay excluding additional monies). Should the Government fall on the side of
choosing basic pay for the full 5.6 weeks entitlement, construction workers
– many of whom rely on overtime – could be left significantly out of pocket.
We are also closely monitoring proposed amendments to the Transfer of
Undertakings (Protection of Employment) Regulations 2006 (TUPE) that protect
workers’ rights when their contract is transferred to a different employer.
This is of particular importance given the high amount of contract transfers
that take place within the construction industry.

 

In summary, one death at work is too many and the Government needs to do
everything in its power to ensure construction workers can go home safely at
the end of each working day. CIOB is adamant that time-keeping records must
be maintained for the safety of everyone working in the industry and we are
also asking the government to engage with all high-risk industries – such as
ours – so that safety, rights, and of course pay are protected.

 

 

 

Construction begins on new boat ramp and temporary car park at Weinam Creek

The existing boat ramp at Weinam Creek that will eventually be used by
emergency services exclusively, once the new Moores Road public boat ramp
opens.

 

Construction of a new, recreational boat ramp and temporary car park at
Weinam Creek, Redland Bay is scheduled to begin from August 2023.

 

The works are part of the next stage of development for the Weinam Creek
Priority Development Area (PDA) Master Plan and represent a major step
forward in the phased rejuvenation of Marina Redland Bay.

 

The new boat ramp is just one of many new services and facilities set to be
delivered under the PDA as it is developed by Redland Investment Corporation
(RIC) on behalf of Redland City Council.

 

The new Marina Redland Bay will bring more car parks for Southern Moreton
Bay Island (SMBI) commuters, travel and transport upgrades to reduce traffic
congestion, an activated foreshore with more open space and family-friendly
areas, retail and cafe amenities.

 

 

The new boat ramp located at the end of the Moores Road car park will give
recreational boaties easier access to better, more modern facilities that
are separated from emergency services.

 

Once completed, first-responder vessels will take up exclusive use of the
existing boat ramp on the northern side of Weinam Creek.

 

RIC CEO Peter Kelley said moving recreational vessels to the southern side
of Weinam Creek would relocate the boat trailer parking away from the main
parking for SMBI commuters.

 

“A great outcome for the community is that once the new recreational boat
ramp is completed, the existing boat ramp will become designated for use by
emergency service vessels only,” Mr Kelley said.

 

“This will alleviate pressure on the facility and improve response times to
SMBI residents.”

 

In parallel with the construction of the new recreational ramp, work will
also commence on a temporary car park that will provide critical commuter
car parking during the next stage of development.

 

The temporary car park will be constructed on Banana Street, providing 141
spaces located close to the ferry terminal.

 

To create the temporary car park, the existing boat trailer parking will be
reduced to 20 bays and established street landscaping and trees will need to
be removed.

 

“We have investigated all options to preserve the trees and have identified
one mature gum tree that will be retained,” Mr Kelley said.

 

“To address the issue of providing adequate temporary parking during works
and safe flow of traffic, the decision to remove the trees has been
necessary.

 

“Independent Ecologist BAAM have confirmed there are no koalas located in
this area.

 

“Following recommendations from BAAM, Council has agreed to planting three
additional trees for every one gum tree that is removed from Banana Street,
adding to the planned revitalisation of Sel Outridge and Neville Stafford
parks.”

 

Redland City Mayor Karen Williams was looking forward to the new boating
facilities and welcomed the immediate car parking relief being offered
during construction.

 

“Council recognises that parking will continue to evolve while the
redevelopment project takes shape,” Cr Williams said.

 

“To provide the maximum amount of car parking for SMBI commuters during this
construction phase, only 45 of the planned 90 boat trailer parks will be
provided at the Moores Road car park, with the remainder planned to be
converted once a planned multi-level car park has opened.

 

“Redland City Council has always had a clear vision for the Weinam Creek PDA
precinct that responds to the community’s needs.

 

“What became clear through extensive community consultation is that solving
Weinam Creek’s parking issues is more complex than simply providing more
parking.

 

“The master plan has been designed to create a community precinct, meeting
the requirements of the PDA’s Development Scheme, which was informed by
community feedback.

 

“RIC and Council are making every effort to minimise inconvenience and
disruption while this major redevelopment takes shape.

 

“We encourage boaties to consider using alternative ramps at Colburn Avenue,
Redland Bay and William Street, Cleveland.

 

“We thank the community for their support of the project and for their
patience while these works are carried out.”

 

KEY POINTS

 

The existing boat ramp will have reduced access during the construction
period, with 20 trailer parks available from August to December.

 

The new temporary car park on Banana Street will provide an additional 141
car parks for Southern Moreton Bay Island commuter traffic.

 

Construction of the new boat ramp at the end of the Moores Road car park is
scheduled to be finished by December 2023 (weather dependent).

 

When the new recreational boat ramp is completed, 45 boat trailer parking
spaces will be provided. When the multi-level car park is completed in a
future stage of development, the 45 extra boat trailer parks will be
provided.

 

 

 

 

Revolutionizing the Construction Industry: The Power of BIM Software

The construction industry, a sector known for its traditional methods and
slow adoption of technology, is currently undergoing a significant
transformation. This change is being driven by the power of Building
Information Modeling (BIM) software, a revolutionary tool that is reshaping
the way construction projects are planned, designed, and managed.

 

BIM software is a digital representation of the physical and functional
characteristics of a building. It serves as a shared knowledge resource for
information about a facility, forming a reliable basis for decisions during
its life cycle from inception onward. This innovative technology is not just
a tool, but a process that enables stakeholders to collaborate effectively,
enhancing the overall efficiency and productivity of construction projects.

 

The adoption of BIM software in the construction industry has been steadily
increasing, and for good reason. It offers numerous benefits that are
transforming the way construction projects are executed. Firstly, BIM
software provides a 3D model-based process that gives architecture,
engineering, and construction professionals the insight and tools to more
efficiently plan, design, construct, and manage buildings and
infrastructure. This results in improved visualization, better
communication, and reduced errors and rework, leading to significant cost
savings.

 

Moreover, BIM software allows for better coordination among different
stakeholders involved in a construction project. It enables real-time
collaboration, ensuring that everyone involved in the project has access to
the same information at the same time. This eliminates the risk of
miscommunication and misunderstanding, which are common issues in
traditional construction processes.

 

In addition, BIM software facilitates better project management. It provides
a clear overview of the project, allowing project managers to track
progress, manage resources, and make informed decisions. This leads to
improved project delivery, with projects being completed on time and within
budget.

 

Furthermore, BIM software promotes sustainability in the construction
industry. It allows for energy analysis and sustainability evaluation during
the design phase, enabling the creation of more energy-efficient buildings.
This not only reduces the environmental impact of construction projects but
also results in long-term cost savings for building owners.

 

Despite these benefits, the adoption of BIM software in the construction
industry is not without challenges. It requires a significant investment in
terms of time and resources for training and implementation. However, the
return on investment is substantial, with the benefits far outweighing the
costs.

 

In conclusion, BIM software is revolutionizing the construction industry. It
is transforming the way construction projects are planned, designed, and
managed, leading to improved efficiency, productivity, and sustainability.
While the adoption of this technology requires a significant investment, the
benefits it offers make it a worthwhile investment. As more and more
companies in the construction industry embrace BIM software, it is set to
become the standard tool for construction project management, heralding a
new era in the construction industry.

 

 

 

 

Biggest apartment construction boom in decades likely to bring renters
uneven relief

LOS ANGELES (AP) — When viewed through a wide lens, renters across the U.S.
finally appear to be getting some relief, thanks in part to the biggest
apartment construction boom in decades.

 

Median rent rose just 0.5 percent in June, year over year, after falling in
May for the first time since the pandemic hit the U.S. Some economists
project U.S. rents will be down modestly this year after soaring nearly 25
percent over the past four years.

 

A closer look, however, shows the trend will likely be little comfort for
many U.S. renters who’ve had to put an increasing share of their income
toward their monthly payment. Renters in cities such as Cincinnati and
Indianapolis are still getting hit with increases of 5 percent or more. Much
of the new construction is located in just a few metro areas, and many of
the new units are luxury apartments, which rent for well north of $2,000.

 

WATCH: Evictions skyrocket as rising rents squeeze low-income Americans

 

Median U.S. rent has risen to $2,029 this June from $1,629 in June 2019,
according to rental listings company Rent, which tracks rents in 50 of the
largest U.S. metropolitan areas. Demand for apartments exploded during the
pandemic as people who could work remotely sought more space or decided to
relocate to another part of the country.

 

The steep rent increases have left tenants like Melissa Lombana, a high
school teacher who lives in the South Florida city of Miramar, with
progressively less income to spend on other needs.

 

The rent on her one-bedroom apartment jumped 13 percent last year to $1,700.
It climbed another 6 percent to $1,800 this month when she renewed her
lease.

 

“Even the $1,700 was a stretch for me,” said Lombana, 43, who supplements
her teaching income with a side job doing educational testing. “In a year, I
will not be able to afford living here at all.”

 

Lombana’s rent is now gobbling up nearly half her monthly income. That puts
her in a category referred to as “cost-burdened” by the U.S. Department of
Housing and Urban Development, denoting households that pay 30 percent or
more of their income toward rent. Last year, the average rent-to-income
ratio per household rose to 30 percent. This March, it was 29.6 percent.

 

Lombana hasn’t had any luck finding a more affordable apartment. While South
Florida is one of the metropolitan areas seeing a rise in apartment
construction, the units are mostly high-end and not a viable option.

 

That scenario is playing out across the nation. Developers are rushing to
complete projects that were green-lit during the pandemic-era surge in
demand for rentals or left in limbo by delays in supplies of fixtures and
building materials. Nearly 1.1 million apartments are currently under
construction, according to the commercial real estate tracker CoStar, a pace
not seen since the 1970s.

 

Increasing the supply of apartments tends to moderate rent increases over
time and can give tenants more options on where to live. But more than 40
percent of the new rentals to be completed this year will be concentrated in
about 10 high job growth metropolitan areas, including Austin, Nashville,
Denver, Atlanta and New York, according to Marcus & Millichap. In many
areas, the boost to overall inventory will be barely noticeable.

 

WATCH: How suburban zoning rules are stifling development and causing rents
to spike

 

Even within metros where there’ll be a notable increase in available
apartments, such as Nashville, most of it will be in the luxury category,
where rents average $2,270, nationally. Some 70 percent of the new rental
inventory will be the luxury class, said Jay Lybik, national director of
multifamily analytics at CoStar.

 

That will leave most tenants unlikely to see a big enough reduction in rent
to make a difference, industry experts and economists say.

 

“I think we’re in a period of rent flattening for 12 or 18 months, but it’s
certainly not a big rent decline,” said Hessam Nadji, CEO of commercial real
estate firm Marcus & Millichap.

 

“We’re building a multi-decade record number of units,” Nadji said. “It’s
going to cause some softening and some pockets of overbuilding, but it’s not
going to fundamentally resolve the housing shortage or the affordability
problem for renters across the U.S.”

 

The surge in rents has made it difficult for workers to keep up with
inflation despite solid wage gains the past few years and exacerbated a
long-term trend. Between 1999 and 2022, U.S. rents soared 135 percent, while
income grew 77 percent, according to data from Moody’s Analytics.

 

Realtor.com is forecasting that rents will drop an average of 0.9 percent
this year. But while down nationally, rents are still rising in many markets
around the country, especially those where hiring remains robust.

 

In the New York metro area, the median rent climbed 4.7 percent in June from
a year earlier to $2,899, according to Realtor.com. In the Midwest, rents
surged 5.6 percent in the Cincinnati metro area to $1,188, and 6.9 percent
to $1,350 in the Indianapolis metro area.

 

The current spike in apartment construction alone isn’t going to be enough
to address how costly renting has become for many Americans.

 

“For the rest of the 2020s rents will continue to grow because millennials
are such a big generation and we’re very much in the hole in terms of
building housing for that generation,” said Daryl Fairweather, chief
economist at Redfin. “It will take many good years of new construction to
build adequate housing for millennials.”

 

The bigger challenge is building more work force housing, because the cost
of land, labor and navigating the government approval process incentivize
developers to put up luxury apartments buildings.

 

Expanding the supply of modestly priced rentals would help alleviate the
strain from so many new apartments targeting renters with high incomes,
“although additional subsidies will be needed to make housing affordable to
households with the lowest incomes,” researchers at Harvard University’s
Joint Center for Housing Studies wrote in a recent report.

 

Despite the overall pullback in U.S. rents, Joey Di Girolamo, in Pembroke
Pines, Florida, worries that he’ll face more sharp rent increases in coming
years.

 

Last year, the web designer left a two-bedroom, two-bath townhome he rented
for $2,200 a month to avoid a $600 a month increase. This year, his rent
went up by $200, a nearly 10 percent jump.

 

“That blew me away,” said Di Girolamo, 50. “I’m just kind of dreading what
it’s going to be like next year, but especially 3 or 4 years from now.”

 

Associated Press

 

 

Macrotech Developers Invests Rs 1,000 Crore On Construction In Q1

Realty firm Macrotech Developers invested Rs 1,000 crore during the
April-June period on the construction of various projects and will pump in
Rs 3,500 crore more by March next year as part of its strategy to ramp up
execution capabilities.

 

Macrotech Developers, which sells its properties under the Lodha brand, has
a major presence in Mumbai Metropolitan Region (MMR) and Pune. It has
entered into Bengaluru market as well.

 

In an interview with PTI, Macrotech Developers MD and CEO Abhishek Lodha
expressed satisfaction over the operational performance of the company
during the first quarter of this fiscal and was confident of achieving the
targeted 20% growth in sales bookings to Rs 14,500 crore.

 

He said the housing demand has been very strong for the last two years on
pent up demand post the Covid pandemic and people's aspiration to own better
and bigger homes from branded developers.

 

 

To encash this demand, Macrotech Developers plans to launch 22 new projects
by March next year across MMR, Pune and Bengaluru, covering a 9.4 million
square feet area with an estimated sales revenue potential of Rs 12,560
crore.

 

It launched a 1.8 million square feet area in the first quarter of this
fiscal year having a sales revenue potential of Rs 1,510 crore.

 

"In terms of sales bookings, we had our best-ever first quarter. Our sales
bookings increased 17% to Rs 3,350 crore. We did not launch many projects in
the first quarter. So, the sales were driven by inventories in ongoing
projects", Lodha said.

 

"We have a strong launch pipeline for the second half of this fiscal", he
said.

 

 

Asked about construction spend, Lodha said the company spent around Rs 1,000
crore in the first quarter.

 

The total investment on construction is estimated at around Rs 4,500 crore
for the full fiscal year.

 

Lodha expects housing demand momentum to continue going forward and hopes
that the interest rates on home loans to start declining in the coming
months.

 

The company's sales bookings grew 34% in 2022-23 to Rs 12,014 crore and it
has set a target of 20% growth to Rs 14,500 crore in the current fiscal.

 

Lodha highlighted that the company has added five new land parcels in the
first quarter of this fiscal and expects to generate around Rs 12,000 crore
in revenue by developing real estate projects on these plots.

 

The company has added land parcels in the western suburbs of MMR, Bengaluru
and in Alibaug.

 

Under new business development, Macrotech Developers acquires land
outrightly and also enters into joint development agreements (JDAs) with
landowners to create land bank for future projects. The company has given
guidance for Rs 17,500 crore for new business development, of which Rs
12,000 crore has already been achieved in the first quarter.

 

Lodha, however, said the company would not revise its target.

 

Recently, the company reported a 34% decline in its consolidated net profit
at Rs 179.2 crore in the June 2023 quarter on lower income.

 

Its net profit stood at Rs 271.3 crore in the year-ago period.

 

The total income fell to Rs 1,671.8 crore in the April-June quarter of
2023-24 from Rs 2,675.8 crore in the corresponding period of the previous
year.

 

Macrotech Developers has delivered more than 95 million square feet of real
estate and is currently developing over 110 million square feet under its
ongoing and planned portfolio.

 

The group has about 4,300 acres of land beyond its ongoing and planned
portfolio, which will be utilised in developing further residential,
commercial and industrial & logistics spaces.

 

 

 

 

How Technology is Shaping the Future of Construction and Demolition in North
America

The construction and demolition industry in North America is undergoing a
significant transformation, driven by the rapid advancement of technology.
This shift is not only changing the way buildings are constructed and
demolished but also redefining the future of the industry.

 

In the realm of construction, technology is playing a pivotal role in
enhancing efficiency, safety, and sustainability. The advent of Building
Information Modeling (BIM) technology, for instance, has revolutionized the
planning and design phase of construction. BIM allows architects and
engineers to create detailed 3D models of buildings, enabling them to
identify potential design flaws and make necessary adjustments before
construction begins. This not only saves time and resources but also reduces
the risk of costly errors during the construction process.

 

Moreover, the use of drones and robotics in construction is becoming
increasingly prevalent. Drones are being used for site surveys, providing
accurate and detailed data in a fraction of the time it would take for a
human surveyor. They can also access hard-to-reach areas, improving safety
by reducing the need for workers to perform dangerous tasks. Robotics, on
the other hand, are being used to automate repetitive tasks such as
bricklaying and concrete pouring, increasing productivity and reducing the
risk of worker injury.

 

In the demolition sector, technology is also making significant strides.
Traditional demolition methods are often time-consuming, labor-intensive,
and pose significant safety risks. However, the introduction of robotic
demolition equipment is changing this narrative. These machines can be
remotely controlled, allowing for precise and efficient demolition while
keeping workers at a safe distance. Additionally, they produce less noise
and dust compared to traditional methods, reducing the environmental impact
of demolition activities.

 

Furthermore, technology is playing a crucial role in waste management, a
critical aspect of the demolition process. Advanced sorting and recycling
technologies are enabling companies to recover and reuse a larger percentage
of materials from demolished buildings, reducing the amount of waste sent to
landfills. This not only benefits the environment but also contributes to
the economic sustainability of the industry by creating a market for
recycled construction materials.

 

The integration of technology in construction and demolition is also
fostering innovation in related sectors. For instance, the rise of smart
buildings, which leverage Internet of Things (IoT) technology to optimize
energy efficiency and occupant comfort, is a direct result of technological
advancements in construction. Similarly, the growing trend of
deconstruction, where buildings are carefully dismantled to salvage reusable
materials, is being facilitated by advancements in demolition technology.

 

However, the adoption of technology in the construction and demolition
industry is not without challenges. These include the high cost of
technology, the need for skilled workers to operate advanced equipment, and
concerns about data security. Nevertheless, the benefits of technology far
outweigh these challenges, and it is clear that technology will continue to
shape the future of the construction and demolition industry in North
America.

 

In conclusion, the impact of technology on the construction and demolition
industry in North America is profound and far-reaching. By enhancing
efficiency, safety, and sustainability, technology is not only transforming
the way buildings are constructed and demolished but also shaping the future
of the industry. As technology continues to evolve, it will undoubtedly
bring about even more significant changes, heralding a new era for
construction and demolition in North America.

 

 

Greece starts construction of 35-km fence on Turkish border

The Greek authorities have initiated construction work for a
35-kilometer-long steel fence along the Meriç River as part of the first
phase of a new 140-kilometer-long wall project on the Turkish border to
prevent irregular migration.

 

 

Subcontractor companies have started to work in the area, including tree
cutting, clearing the area and opening roads for the passage of construction
machinery.

 

According to the agreement signed in March between the Greek government and
the companies “Terna” and “Intrakat,” the construction of the
35-kilometer-long fence will cost 99.2 million euros ($109 million).

 

The cost is being covered by the Greek government as the European Union
refused to finance the project.

 

The 35-kilometer-long and 5-meter-high steel fence will be built between the
towns of Didymoteicho (Dimetoka) and Soufli (Sofulu), located near the
Turkish border.

 

The construction is expected to be completed within a year.

 

Additionally, seven anti-ballistic observation towers with steel cabins will
be built in the reigon. The planned devices for the fence will include
state-of-the-art fiber optic detectors, cameras with the capability of
monitoring up to 15 kilometers into Turkish territory, and solar-powered
UAVs.

 

 

 

 

Construction business leaders remain confident in sector stability despite
national insolvency crisis

PRNewswire/ -- Today Kennards Hire, Australia's largest family-owned
equipment hire company, has released its second annual 'Construction
Confidence Check' survey results, revealing an interesting outlook of the
industry.

 

According to the survey, the majority (83%) of construction business leaders
surveyed view the industry as 'stable' and able to withstand pressures to
continue growing. At the C-suite level, this number increases with almost 9
in 10 (87%) agreeing that the industry is 'stable'.

 

The 2023 Kennards Hire Construction Confidence Check* surveyed over 500 of
Australia's business leaders in the construction industry with 20+
employees. The findings demonstrate how boardrooms are faring in the current
environment, highlighting perceptions of small and large businesses
operating in the industry.

 

"At Kennards Hire, we pride ourselves on our excellent customer service. The
Construction Confidence Check allows us to stay attuned to the industry's
outlook, ensuring we remain well-informed and can continue to use our
expertise to help businesses navigate mounting pressures," said Tony Symons,
General Manger Commercial at Kennards Hire.

 

Compared to last year's Construction Confidence Check, while overall
confidence in Australia's construction industry has improved, this year's
survey results indicate a sentiment shift based on business size and
location.

 

In NSW and VIC, confidence slightly declined (83% in 2023 vs. 86% in 2022),
however the rest of Australia (QLD, SA, WA, TAS, NT & ACT) shows confidence
increased (84% in 2023 vs. 72% in 2022).

"Australia's construction industry is resilient and adaptable, so it's no
surprise that most business leaders are hopeful about the future. Based on
our survey results and conversations with industry leaders, we know the
difficulties experienced by some construction businesses does not define the
entire sector. However, we also know that many are still feeling the impact
of external factors. In fact, our survey shows that 56% of business leaders
say rising costs of materials is their top issue impacting confidence in the
industry, followed by skilled labour shortages (51%) and supply chain issues
(45%)," said Symons.

 

To achieve stability and growth in the construction sector over the next
five years, construction business leaders surveyed ranked solving the rising
cost of materials (50%), skilled labour shortages (42%), the rising cost of
equipment (40%) and supply chain issues (37%) in the top macro issues to
solve for.

 

The 2023 Kennards Hire Construction Confidence Check survey also explored
industry perceptions on ESG, revealing that:

 

Construction business leaders are taking their ESG responsibilities
seriously with 59% saying their company has an ESG strategy in place,

Of those who have an ESG strategy in place or are looking to implement one2,
48% say the use of eco-friendly and sustainable materials is a step they are
taking to improve ESG outcomes, closely followed by proper waste management
and material recycling (43%),

Of those who do not have an ESG strategy in place, common barriers to
further progressing their ESG strategy include costs (39%), supply chain
risks (38%), lack of knowledge and understanding of how an ESG strategy can
benefit their business (37%) and a lack of knowledge and understanding on
exactly what an ESG involves (36%).

"Now more than ever, the power of the circular economy is helping businesses
cut costs. At Kennards Hire, we support construction business leaders find
cost-savings whilst simultaneously improving ESG outcomes. By choosing to
hire equipment instead of purchasing, businesses can reduce upfront costs,
participate in the sharing economy, and have access to the latest technology
without the burden of ownership," said Symons.

 

Kennards Hire

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 


 


 


Invest Wisely!

Bulls n Bears 

 

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INVESTORS DIARY 2023

 


Company

Event

Venue

Date & Time

 


 

 

 

 

 


 

 

 

 

 


 

 

 

 

 


 

 

 

 

 


 

 

 

 

 


 

 

 

 

 


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
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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
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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.

 


 

 


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