Construction picks up, but cranes disappearing from apartments

first_imgConstruction work underway at Broadbeach on the Gold Coast.According to surveyor RBL, a total of 685 cranes are currently located on projects across Australia, with 350 in Sydney, 151 in Melbourne and 116 in Brisbane and on the Gold Coast. Mr James said there was nothing in the data to change CommSec’s belief that official interest rates won’t change for at least a year. GET THE LATEST REAL ESTATE NEWS DIRECT TO YOUR INBOX HERE Apartments under construction in Newstead, Brisbane. Photo: Glenn Hunt.Across the four major sub-sectors in the survey, engineering construction activity expanded for a seventh consecutive month to hit 10-year highs. Government spending on road, rail and public transportation-related infrastructure projects continues to drive engineering jobs, wages growth and construction work. The home building sector also expanded in October, though at a slower rate of growth. PROPERTY BEATS SUPER HANDS DOWN BRISBANE’S PRESTIGE MARKET ON FIRE PLENTY OF HOMES FOR HORSE LOVERS More from newsParks and wildlife the new lust-haves post coronavirus23 hours agoNoosa’s best beachfront penthouse is about to hit the market23 hours agoApartment-related activity picked up, but it remained at contractionary levels as new orders softened and investor demand continued to wane following recent lending restrictions.Ai Group head of policy Peter Burn said the outlook for the apartment sub-sector was for a continuation of the orderly retreat from historically high levels that had been evident over the course of 2017. “There may still be plenty of cranes visible on new apartment sites but there are now many less than was the case a year ago,” he said. Construction work across Australia has picked up for a ninth straight month, new figures show. Photo: AFP/Armend Nimani.CONSTRUCTION work across the nation has picked up for a ninth straight month, but the cranes are starting to disappear from apartment sites, according to new figures.The Australian Industry Group Performance of Construction index eased to 53.2 in October from 54.7 in September.Any reading above 50 signifies expansion or growth of activity, however the pace of growth has been slowing since July.center_img Apartments under construction in Newstead, Brisbane. Photo: Glenn Hunt.Housing Industry Association principal economist Tim Reardon said house building had continued to cool modestly throughout the year and he expected that to continue into 2018.“The easing in the pace of contraction in the apartment side of the market is welcome news in a market that has slowed over the year,” he said.CommSec senior economist Craig James noted the survey showed infrastructure-related construction work was booming across the nation. “While mining projects have been completed, the handover to non-mining sources of construction, especially road, rail and transport projects are driving growth and creating jobs,” he said in a note to clients.last_img read more

Swedish buffer fund AP4 names former AP3 CIO as chief executive

first_imgSource: AP4Niklas Ekvall, chief executive of AP4Sarah McPhee, AP4’s chair, said she felt “privileged” to have recruited Ekvall.“Niklas has a deep understanding of both asset management and the AP funds, and he is motivated in bringing AP4’s sustainability engagement to the next phase,” she said. “We are very happy Niklas will join us at AP4.”The chair also thanked Andersson for his “outstanding contribution” while at AP4, noting his advocacy for investment strategies focused on the long term and matters of sustainability, for which he was awarded the Outstanding Industry Contribution at the 2014 IPE Awards in Vienna.Andersson, who announced in March he would be stepping down, will leave the buffer fund in June, with Per Colleen, AP4’s head of equities, acting as interim chief executive until Ekvall’s arrival. Ekvall worked at AP3 until 2004, leaving it to join Carnegie Asset Management.After three years as head of asset management at Carnegie, he joined Nordea Bank’s Swedish business as head of investment in savings and asset management, most recently serving as the bank’s head of group treasury. Niklas Ekvall has been named chief executive of AP4, succeeding Mats Andersson, who is stepping down after a decade in the role.Ekvall (pictured), who will join the SEK310bn (€33.2bn) Swedish buffer fund at the beginning of October, has held senior positions across the finance industry and academia, having taught finance at the Stockholm School of Economics.The incoming chief executive, who spent five years as deputy chief executive and CIO of AP3, said the AP funds had one of the most important roles in the Swedish financial sector.“I am really proud to be given this opportunity to be part of AP4 and to further develop an organisation that has been so successful in managing capital,” he said.last_img read more

No backing down from CCC Marooners despite weakened squad

first_imgBRIDGETOWN, Barbados, (CMC) – Title-holders Combined Campuses and Colleges (CCC) Marooners will be missing the bulk of their championship-winning squad but have no intention of simply rolling over, when they launch the defence of their Regional Super50 crown next week.“Fans can expect a team that will play positively and fearlessly, as it looks to defend its title,” said new head coach, Pedro Collins.“We are the defending champions and we expect everyone to come very hard at us. We have got to be ready for the fight. We have been preparing well.“There are a lot of changes to the squad from last year – we are missing around nine players from the last set-up – but this means another group of players get an opportunity to showcase their talent, so we are looking forward to a good, exciting tournament.”Crucially, former West Indies Twenty20 captain Carlos Brathwaite will lead the side again this year, after missing out on the series against Afghanistan in India also starting next week.The big-hitting all-rounder, who also bowls steady medium pace, was one of the leading players last year, averaging 53 with the bat and grabbing 13 wickets.However, he will have just three players from last year’s unit, with Kyle Corbin, Jonathan Drakes and Ojay Shields the only ones returning.Collins, who has taken over from Floyd Reifer now in charge of West Indies Emerging Players, concedes there will be pressure in trying to live up to expectations, especially with the plethora of new players.“There is a lot of pressure. We are missing the nucleus of last year’s team and it will be tough on the young players, but they appear willing to take on the challenge,” said the former Windies left-arm seamer.“We have a few practice games and mocked up some game scenarios, and they seem to be hitting the targets. It will be a bit of pressure, but we will work to reassure them that it’s just another game, though it may be tougher than what they may be accustomed to playing.“This is the ‘big time’ now and they will need to step up. We do not expect miracles, but we want them to be positive and be ready for the challenge.”As such, much of the responsibility will rest on Brathwaite’s shoulders, and Collins agreed he would be key to the Marooners’ success on and off the field.“He’s a very important piece of the puzzle. Last year, he was very instrumental in calming down the players, reinforcing situational awareness, not just on the field, but off the field, he was a leader,” Collins pointed out.“The players had fun together. We always tried to do things as a team and he brought that calmness to the group. No one looked up to him to do everything, but everybody knew what they had to do, everybody played their role and did them to the best of their ability, which made life easier for the coaches.“All the boxes were ticked and this what we are looking to do again. Team bonding is very important in the short space of time we will be together. The quicker we bond, the better for the team.”Marooners will contest Group A of the November 6 to December 1 tournament, alongside the likes of Barbados Pride, Jamaica Scorpions, hosts Leeward Islands Hurricanes and Canada at Warner Park and Conaree Sports Complex.SQUAD – Carlos Brathwaite, Kyle Corbin, Romaine Morris, Akeem Jordan, Jonathan Drakes, Ojay Shields, Kavesh Kantasingh, Larry Joseph, Abhijai Mansingh, Sadique Du Shawn, Luciano Henry, Odain Orlando McCatty, Jarlarnie Niquan, Nigel Seales, Paul Palmer, Akshaya Persaud.last_img read more

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