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Record global real estate spend reaches $900bn

first_imgAs the global property market prepares to descend on the MIPIM property conference in Cannes, JLL’s report ‘Moving Further and Faster’ said that last year’s investment volumes were up almost 40% from 2005. The lion’s share of global real estate investment continued to target direct commercial real estate with $682bn (£353m) invested in 2006.Tony Horrell, chief executive officer of Jones Lang LaSalle’s international capital group, said: ‘There is currently a large overhang of investment targeting the sector with $5 of money chasing every $1 of product. These increased flows into real estate gave rise to two notable phenomena in 2006 – an increasing number of ‘mega-deals’, and continued globalisation of the asset class.’Horrell said cross border transactions account for 42% of the total investment volumes. The largest increase in investment came from global co-mingled funds, which are now involved in deals representing 17% of direct real estate investment globally. Padraig Brown, global strategy and research director at JLL, said much of the investment was driven by corporate real estate disposals: ‘Corporate occupiers sold over $55bn of real estate assets during 2006 with the large corporate disposals occurring in Japan and Germany.’last_img read more

Decentralise power supply

first_img, president of the Cape Chamber of Commerce and IndustryThe new Integrated Resources Plan for electricity will not encourage industrial investment or economic growth and it fails to provide the energy security the country desperately needs.One good thing about the IRP is that it does acknowledge the need for distributed generation and we predict that the business sector will take up this challenge.We are already seeing huge numbers of solar panels on shopping centre roofs and other commercial buildings as well as on homes and we can expect this trend to gather pace.The reason is that businesses has done its sums and found that investing in solar panels is not only viable but a good investment with great cost control and long-term savings.This is the reality but the IRP still places artificial limits on renewable energy and favours more expensive new coal plants.South Africa has not come to terms with the fact that the electricity industry is over centralised. We have put all our eggs into the Eskom basket and that basket has been dropped. We need to decentralise and get the municipalities back into the business of generating electricity or allowing them to buy power directly from independent power producers.Cape Town is able to convert stage-two load shedding into stage-one by using 160 MW of electricity from its Steenbras pump storage scheme. Pump storage is expensive to build and it takes a long time, but some countries are already using huge batteries to do a similar job. The exciting thing is that the batteries are getting better and cheaper so that is another opportunity to decentralise and use electricity more efficiently.Eskom’s ability to raise loans for capital projects is severely limited, but a municipality like Cape Town has a much better credit rating and will have little difficulty in raising funds for sound renewable energy projects.The other great disappointment is that the IRP does not provide for more gas power stations which are the ideal support for variable renewable energy. They can be powered up quickly and they are at least 50% cleaner than coal. In addition, they use little water and the combined cycle gas power stations have a thermal efficiency of 60% compared to 35% to 40% for the best coal-fired power stations.Let Cape Town and other municipalities build their own gas power stations and the economy of the Western Cape and South Africa will be a lot safer and more attractive to investors.last_img read more

What Were the Indians Asking Other Teams for When it Came to Corey Kluber?

first_imgThe smoke continues to clear from the Indians deal on Sunday afternoon with the Texas Rangers for pitcher Corey Kluber.The Tribe in return for the services of the two-time Cy Young award winner received back relief pitcher Emmanuel Clase, as well as outfielder Delino DeShields, a former first-round pick of the Rangers.The Rangers were not the only suitor for Kluber, and there was another American League West team in the mix for the 33-year-old pitcher.Click HERE to Continue Reading! Related TopicsCorey KluberEmmanuel ClaseIndiansRangers Matt Loedecenter_img Matt Loede has been a part of the Cleveland Sports Media for over 21 years, with experience covering Major League Baseball, National Basketball Association, the National Football League and even high school and college events. He has been a part of the Cleveland Indians coverage since the opening of Jacobs/Progressive Field in 1994, and spent two and a half years covering the team for 92.3 The Fan, and covers them daily for Associated Press Radio. You can follow Matt on Twitter HERE.last_img read more

Johnson leads Jaguars fightback with unbeaten fifty

first_imgST GEORGE’S, Grenada, CMC – Guyana Jaguars skipper Leon Johnson made a welcome return to form with a half-century which pulled the five-time reigning champions out of trouble on yesterday’s second day of their fifth round contest against Windward Islands Volcanoes. With his side struggling on 25 for two in reply to the hosts’ first innings of 318 at the National Stadium here, Johnson struck a composed unbeaten 65 to steer the innings to the relative safety of 145 for three at the close.The 32-year-old, who made a half-century in his first innings of the season only to gather a mere 77 runs from his last six outings, has struck 11 fours in a knock spanning 122 balls and a shade over 2-½ hours.Crucially, he put on 74 for the third wicket with Test let-hander Shimron Hetmyer who made 32 in his second regional first class appearance in two seasons before gifting his wicket, before adding a further 46 in an unbroken fourth wicket stand with all-rounder Chris Barnwell (28 not out). Keron Cottoy (56) and Shane Shillingford (53) had earlier struck half-centuries as Volca-noes flourished after resuming the day on 212 for six.Unbeaten overnight on 37, Cottoy stretched his seventh wicket stand with Shillingford to 36, hitting 10 fours off 85 balls in just over 1-¾ hours in posting his maiden first class half-century.Once Cottoy perished, Shillingford took responsibility for the innings by anchoring a 57-run, eighth wicket partnership with Sherman Lewis who made 24. All told, Shillingford faced 86 balls in two hours and counted four fours and a six.Left-arm spinner Veerasammy Permaul led Jaguars’ attack with four for 59 while leg-spinner Devendra Bishoo supported with three for 73.Left-arm seamer Preston McSween (2-43) gave the hosts an excellent start when he removed Chandrapaul Hemraj without scoring with a single run on the board in the fifth over. And when new-ball partner Ray Jordan dislodged Tagenarine Chanderpaul for 11 to a catch at the wicket, Jaguars were collapsing yet again.But Johnson steadied the innings, combining with Hetmyer who lashed four fours in a 39-ball knock before top-edging a pull at McSween and was caught at short mid-wicket.last_img read more

Bartz is best at Shawano

first_imgJordan Bartz scored the season-opening Karl Kustoms Northern SportMod victory Saturday at Shawano Speedway. Cole Magnin led the first two laps of the Karl Kustoms Northern SportMod feature before losing the handle and bringing out the caution flag. Magnin restarted at the tail of the field.  SHAWANO, Wis. (April 27) – Jordan Bartz raced her way to victory lane on opening night Satur­day at Shawano Speedway.  Benji LaCrosse led every lap of the IMCA Modified feature while Jeremy Christians regained the lead late in the race to win the IMCA Sunoco Stock Car main event. Teagan Wudstrack and Bartz swapped the lead back and forth multiple times over the next two laps before Bartz ultimately established herself in the point position.  Bartz led the rest of the way for the victory. Bryce Clements raced his way to second, while Magnin battled back from the tail of the field to finish the race in third.  By Scott Owen last_img read more