For this edition of our monthly news digest we are taking a look at the Heart of Europe project in Dubai, where the Spanish-inspired Marbella Hotel is beginning to take shape. We also zoom in on the expanded Italian renovation bonus, positive revenue prognoses for the Dutch construction sector, the role of natural water retention in new logistics real estate and a call for renovation optimism in Belgium.
Italian renovation Superbonus extended
The Italian Parliament has decided to expand the Superbonus 110% system, which stimulates energy efficient renovation works. The plan, which was launched in 2020, allows homeowners to finance 110% of energy-efficiency renovation works through tax deductions. The Italian Parliament has now extended the plan for condominiums and public housing (IACP). By promoting renovation, Italy hopes to kick-start the economy after the pandemic while taking action to fight climate change. The announcement caused a sigh of relief for condominiums, businesses, construction operators and designers who already signed in on the original Superbonus. Read the full story
here.
Czech developers focus on rain retentio
Climate change is causing more and more periods of extreme droughts and, on the other hand, instigating extremely heavy rains which produce floods. As a result, sustainable developers are making water retention an absolute priority.
“In today's world, people are forced to save water in all respects and situations. This also applies to logistics and industrial real estate”, says Lucie Řezníčková, a member of the industrial department of the real estate consulting company Colliers. Developers nowadays are fully aware of their responsibility to retain rainwater as much as possible, while minimizing the consumption of drinking water. The Czech magazine Logistika took a closer look at this interesting development. Read the full story
here.
Dutch construction sector is reviving
After a turbulent year 2020, Dutch construction companies are slowly getting their hopes up. The Dutch Economical Building Institute’s (EIB) Spring 2021 Construction Chain Monitor has revealed that more than one third of construction companies in The Netherlands are expecting a growing profit in 2021. All individual links in the construction chain are positive and have improved compared to the previous measurement. Almost five in ten companies currently expect their workforce to grow. Read more
here.
“No need to postpone renovation
It’s not a good idea to postpone renovations, says Jean-Pierre Waeytens, managing director of the Belgian Building Unit. The Belgian construction barometer is showing positive signs, as order books of the local construction companies are currently well filled. Unfortunately, contractors, renovators and builders are confronted with rising prices and scarcity of materials.
“No one can predict how long the problem will last and how the prices will evolve”, Waeytens said. “But there are various support measures that make energy-efficient renovations very interesting, even with the current higher prices.” Read the full interview
here.
Spanish Costas appearing in Duba
Did you know that The Heart of Europe is located in Dubai? It’s the name of an ambitious tourism project located on six small islands along the Dubai coast. Once completed, The Heart of Europe will offer a variety of European cultural experiences, including entertainment, dining, cafés and shops. As part of the $ 5 billion mega-project, a Spanish-themed resort called the Marbella Hotel will be completed during Dubai Expo 2020. As a result of the covid pandemic, the exposition has been postponed and will take place from October 1st 2021 to March 31st 2022.
The Marbella Hotel will feature 191 rooms and hotel apartments, including 48 five-star
cuevas or caves, and three super-luxury
fisherman house suites. Although it will overlook the Persian Gulf instead of the Mediterranean, the upscale hotel will aim to recreate an authentic taste of Spain. Read more
here.
