Crackdown in construction industry to overcome ‘boom-bust’

The government plans to crack down on its procurement in the construction industry in a bid to get rid of a culture of price undercutting. The crackdown, announced in Auckland this morning, is part of its roadmap to address skills and labour shortages in the construction industry. Minister for Building and Construction Jenny Salesa announced the Construction Skills Action Plan in front of a Housing New Zealand development in Otara. “For many decades our sector, Read more…

World Trade Center Transportation Hub Oculus Designed in Remembrance of 9/11

The opening of the World Trade Center Transportation Hub’s Oculus will take a rain check on the 17th anniversary of 9/11, according to Steve Coleman, a spokesperson for the Port Authority. Designed by Santiago Calatrava, the 335-foot-long skylight was designed to allow the “Way of Light” to pass through the main hub of the transit hall at 10:28 a.m.—the moment that the North Tower of the WTC collapsed on September 11, 2001. Symbolizing the light Read more…

Council-owned residential village for Henderson

On Friday 24 August, Auckland Mayor Phil Goff marked the beginning of construction for a new village for older residents in Henderson. The project will comprise 40 apartments and will be managed by community housing provider Haumaru Housing, a partnership between Auckland Council and the Selwyn Foundation. Mayor Goff says, “Housing delivered through our partnership with the Selwyn Foundation not only provides warm and dry homes to older people but creates safe and supportive communities. “The number of older Read more…

Are banks playing the part in construction?

Bankers’ Association Acting CEO Antony Buick-Constable rejects suggestions banks are not playing their part in the construction sector and says bank lending to the sector is at its highest since the GFC. These are the best of times and worst of times for the construction industry. New Zealand is in the middle of a building boom but large and small firms alike have been caught out by rising costs, a shortage of skilled labour, the way Read more…

246 Queen St marked for $20m rejuvenation

A building in Auckland’s central business district once known to some as the “centrepiece of Auckland’s fashion industry” is set for a $20m facelift. The facelift of the iconic 246 Queen St will mark a revival for the street as other stakeholders move to rejuvenate the area’s buildings and land, Wilshire Group Ltd sales manager Christie Wrightson says. 246 was built by Sir Robert Kerridge and opened in 1956. Its original foundation tenants included El Read more…

Panda, Solar Power, Solar Energy, Renewable Energy, Solar Farm

China just built a 250-acre solar farm shaped like a giant panda

Most solar farms align their solar arrays in rows and columns to form a grid. A new solar power plant in Datong, China, however, decided to have a little fun with its design.   China Merchants New Energy Group, one of the country’s largest clean energy operators, built a 248-acre solar farm in the shape of a giant panda. The first phase, which includes one 50-megawatt plant, was completed on June 30, according to PV magazine. The Read more…

Fletcher, Ross Taylor

Fletcher Building in red, posts $190m loss, no dividend for shareholders

Fletcher Building has made a $190 million loss, only the second time since listing on the NZX in 2001 that it slipped into the red, shareholders will get no dividends for the full year and no trading update has been provided. The company with a market capitalisation of $5.8 billion this morning released its annual result for the year ended June 30. It declared a loss of $46m in 2009 and said today FY19 earnings Read more…

New Zealand bans foreigners from buying property

Buying a home in New Zealand just got a lot tougher for most people. The country’s parliament on Wednesday passed a law banning foreigners from buying into most parts of its residential property market as the government seeks to cool red-hot house prices. The Overseas Investment Amendment Bill will prevent overseas investors from purchasing existing properties in New Zealand, but they will still be able to buy into new apartment complexes and certain other parts Read more…

Ebert Construction

Thin margins hurting New Zealand construction firms

  New Zealand construction firms are taking on too much risk, and operating on too fine a profit margin to survive, industry experts say.   New Zealand construction firms are taking on too much risk, and operating on too fine a profit margin to survive, industry experts say. Ebert Construction has gone into receivership, with debt in the “tens of millions”, the latest in a number of big-name Kiwi firms which have struck trouble in recent years. Read more…

Auckland, NZ, NewZealand, Onehunga, Wharf

Onehunga Wharf key for neighbourhood revitalisation

    Onehunga Wharf has been acquired by Auckland Council in a move that will be critical to the revitalisation of Onehunga over the next 30 years.   The vision for the wharf is that it will be transformed into a new community, with homes, cafés, retail and public spaces, while retaining its seafaring history and spirit. The transformation will be led by the city’s redevelopment agency, Panuku Development Auckland, which will work with the Read more…