News Funds raised for $1.9bn data centre in Arizona Data centre developer EdgeCore Digital Infrastructure has raised $1.9bn, partly from a “green loan”, to build a facility in Mesa, southern Arizona. The project will be part of a 3.1…
News California website shows progress of every infrastructure project The state of California launched a website yesterday tracking the progress of state and federal infrastructure projects and how taxpayers’ money is being spent on them. The build.ca.gov site aims…
News Gordie Howe bridge is $700m over budget and 10 months late The Gordie Howe cable-stayed bridge under construction between Windsor, Ontario and Detroit, Michigan is 10 months behind schedule and C$700m over budget, the authority building it has said. Funded by…
News US construction wages hit $35 an hour Average wages for US construction site and office workers rose by 5.9% over the year to November, hitting $34.96 an hour, says employers group the Associated General Contractors of America…
News Florida businessman sentenced in $3.5m tax fraud case An Orlando businessman will serve up to 30 months in prison for conspiracy to defraud the US government of $3.5m in tax revenue. Wendel Algarin was found guilty of aiding…
News Foster + Partners’ JPMorgan Chase skyscraper tops out in Manhattan at 423m The final steel beam for 270 Park Avenue has been lifted into place, marking the topping out of JPMorgan Chase’s 423m skyscraper in Manhattan, designed by UK architect Foster +…
News Chinese property group files $1.38bn lawsuit over contaminated land Confidence in China’s embattled property sector took another hit this month when a major Shanghai developer revealed it had filed a $1.38bn lawsuit against a steel company accusing it of…
News Evergrande boss loses homes worth $190m as company fights liquidation Two luxury homes in Hong Kong owned by Xu Jiayin, the chairman of beleaguered Chinese property developer Evergrande, have been seized by a creditor. Located in the upmarket Peak district,…
News Consultants charged with bribing officials in San Francisco Three former executives of a San Francisco planning and design firm have been charged with bribing employees of the San Francisco Department of Building Inspection (DBI). Prosecutors claim they paid…
News China puts measures in place to curb public–private partnerships China has taken steps to restrict the number of public–private partnerships (PPPs) entered into by local government bodies, citing their role in rising debt. Sources familiar with the matter told…
Companies ACS to sell to sell its Clece services unit Spanish contractor ACS, Europe’s third largest construction group after Bouygues and Vinci, has hired French banking group Société Générale and Bank of America to sell its services unit, Clece, newspaper…
News Fears grow for German property sector as work stops on €950m Elbtower Fears are growing for the health of Germany’s property sector after work stopped on one of the country’s tallest buildings. Designed by Christoph Felger of David Chipperfield Architects, the 254m…
News Why data centre construction costs are rising around the world An upsurge in data centre construction in emerging markets is driving up costs, according to research from Turner & Townsend. Its Data Centre Cost Index 2023 analyses costs from some…
News Increase VAT on demolition to cut carbon, CIOB tells Ireland The Chartered Institute of Building (CIOB) has called on the Irish government to raise the Value Added Tax (VAT) on demolition projects from the discounted rate of 13.5% to the…
News Inflation pushes Osaka World Expo costs to $1.5bn The expected construction cost of the 2025 World Exposition in Osaka has risen $300m to more than $1.5bn, reports Japanese news site NHK. The costs of the Expo, which will…
Markets Gloomy forecast for EU construction sector High interest rates and soaring building costs have brought an end to growth in the EU’s construction industry and are likely to lead to a decline next year. These are…
News US construction workers get “massive” wage rise The US Department of Labor (DOL) has updated the so-called prevailing wage rule for federally funded construction projects, saying people working on them would earn “thousands of extra dollars” a…
News China Railway ex-boss guilty of taking bribes worth nearly $8m The former general manager of China State Railway Group yesterday pleaded guilty to taking bribes over a period of 18 years, China Daily reports. Sheng Guangzu, 74, was on trial…