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☆ Modular homes were hailed as a solution to housing crises. But the sector is now struggling to scale
▼ + stars: | 2024-03-18 | by ( Vicky Mckeever | ) www.cnbc.com time to read: +7 min

Modern tech-enabled versions of modular housing promise a faster, more sustainable solution to housing crises, according to experts. The fact that modular housing is also made in a controlled factory environment means less waste is generated, while also resulting in more energy-efficient homes. A 2022 report from industry group Make UK Modular highlighted that 80% fewer vehicle movements were needed to development sites with modular building. In the U.K. last year, Ilke Homes collapsed, while Legal & General moved to wind down its modular housing factory. By comparison, a Make UK Modular report published last year said more than 3,000 modular homes were being built in the U.K. annually, though there was capacity to build five times that number.

Persons: Prefabrication, William the Conqueror, Andrew Shepherd, Shepherd, Modulous, Jonatan Pinkse, Pinkse, Suzanne Peters, Daniel Paterson, prefabrication, Richard Valentine, Valentine, Selsey Organizations: Bloomberg, Getty, Sears, CNBC, University of Cambridge, Edinburgh Napier University, Ilke, Legal, King's College, Alliance Manchester Business School, Savills Research, McKinsey, Company, Ikea, Vonovia Locations: Foston, Derby, housebuilding, England, U.S, King's College London, Wales, Selsey, Sweden, Japan, prefabrication, Berlin, Germany

☆ Aeternitas Tower: Dubai is building the world’s tallest residential clocktower
▼ + stars: | 2024-01-17 | by ( Rebecca Cairns | ) edition.cnn.com time to read: +6 min

The Aeternitas Tower, officially unveiled at a launch event last week, will be the world’s tallest residential clocktower at a staggering 450 meters (1,476 feet) tall — more than four times the height of London’s Big Ben, and just 22 meters (72 feet) short of the world’s tallest residential building, the Central Park Tower in New York City. Set to become the world’s second-tallest clock tower (after the Makkah Clock Royal Tower in Mecca, Saudi Arabia), Aeternitas Tower is the result of a partnership between Dubai-based real estate developer London Gate and Swiss luxury watch manufacturer Franck Muller. The Aeternitas Tower will have amenities for residents such as gym, yoga studio, cinema, and swimming pool, pictured in this digital rendering. London GateA booming marketThe Aeternitas Tower is part of a growing trend in Dubai. The design for Aeternitas Tower was officially unveiled at a launch event on January 9 2024, at the Ritz-Carlton Dubai (pictured).

Persons: Big Ben, Franck Muller, Tom Hill, ”, Franck Muller Aeternitas, Erol Baliyan, Franck Muller’s, Karl Lagerfeld, “ We’ve, Carlton Dubai Organizations: CNN, CNN —, London Gate, Marina, Research, Benz, London, Ritz, Carlton Locations: CNN — Dubai, New York City, Makkah, Mecca, Saudi Arabia, Dubai, Dubai Marina, East, Africa, Swiss, London, Emirate, “

☆ Aeternitas Tower: Dubai is building the world’s tallest residential clock tower
▼ + stars: | 2024-01-17 | by ( Rebecca Cairns | ) edition.cnn.com time to read: +6 min

The Aeternitas Tower, officially unveiled at a launch event last week, will be the world’s tallest residential clock tower at a staggering 450 meters (1,476 feet) tall — more than four times the height of London’s Big Ben, and just 22 meters (72 feet) short of the world’s tallest residential building, the Central Park Tower in New York City. Set to become the world’s second-tallest clock tower (after the Makkah Clock Royal Tower in Mecca, Saudi Arabia), Aeternitas Tower is the result of a partnership between Dubai-based real estate developer London Gate and Swiss luxury watch manufacturer Franck Muller. The Aeternitas Tower will have amenities for residents such as gym, yoga studio, cinema, and swimming pool, pictured in this digital rendering. London GateA booming marketThe Aeternitas Tower is part of a growing trend in Dubai. The design for Aeternitas Tower was officially unveiled at a launch event on January 9 2024, at the Ritz-Carlton Dubai (pictured).

☆ Singapore and Lisbon top ranking of the cities with the biggest surge in prime rents
▼ + stars: | 2023-07-20 | by ( Charmaine Jacob | ) www.cnbc.com time to read: +1 min

Private apartments are seen against the backdrop of the Marina Bay Sands hotel and the Singapore Flyer observatory wheel in Singapore on March 23, 2022. Rents in prime residential areas increased the most in Singapore, Lisbon and Berlin in the first half of the year, according to a new research report by real estate services company Savills. Data from the British company showed prime rents in Lisbon surged the most by 13.9% from Dec 2022 to June 2023, followed by Singapore at 13.6% and 9.2% for Berlin during the same period. The increase in Berlin's prime rents was, however, due to an influx of rich residents, the research said. The significant hike in Singapore's prime rents was due to construction delays during the Covid-19 pandemic.

Persons: Savills, Alan Cheong, Cheong Organizations: Singapore Flyer, Savills Research, Consultancy Locations: Marina, Sands, Singapore, Lisbon, Berlin, British

☆ Half of the biggest global companies plan to cut office space. US cities will suffer most
▼ + stars: | 2023-06-06 | by ( Hanna Ziady | ) edition.cnn.com time to read: +4 min

There are fears that a rise in delinquencies as a result of the downturn could cause significant losses at banks, which finance many commercial real estate deals. Office space in the United States was also much more generous per person than in Europe and Asia, he said. London, Berlin, Madrid and Hong Kong were also forecast to have a large amount of excess office space. Before the pandemic, the Californian city was one of the hardest places in the United States to find office space, with a vacancy rate of only 9.5%. Now, 30% of its office space is either vacant or due to return to the market in the next year — a 30-year high.

Persons: —, Knight Frank, ” Lee Elliott, Elliott, “ We’re, ” Elliott, Savills, ”, Kelcie Sellers, “ Organizations: London CNN —, San, CNN, Companies, “, Washington DC Locations: San Francisco, homeworking, delinquencies, Francisco, United States, Europe, Asia, San Francisco , New York, Los Angeles, Chicago, Houston, Washington, London, Berlin, Madrid, Hong Kong, Pacific, America, “

☆ Tapestry deepens push into China, undeterred by luxury market slump
▼ + stars: | 2022-10-25 | by ( Casey Hall | ) www.reuters.com time to read: +6 min

It also follows some 60 Tapestry store openings in China over the last two years. Research from real estate firm Savills also shows 55% of the world's luxury store openings last year took place in China. It saw China sales slide 32% for the quarter ended July 2 from the same period a year earlier. China sales generally account for around a fifth of its overall sales. Coach's luxury market share in China is also more than double that of Michael Kors and more than triple that of Ralph Lauren and Tory Burch, according to Euromonitor data.

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