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Local Government Secretary Eric Pickles is scrapping Regional Strategies and their centrally imposed building targets that failed to increase housebuilding. Regional targets intended to build 3 million homes nationally by 2020 were put in place by the previous Government despite fears that they would force councils to cut into the Greenbelt. However, the reality is that construction has slowed down so much the country is facing the lowest peacetime housebuilding rates since 1924. An order laid in parliament today will revoke Regional Strategies with immediate effect. Councils will now have the freedom to prepare their local plans without having to follow top-down targets from regional quangos and bureaucrats that prescribe exactly what, where and when to build. Communities and Local Government Secretary Eric Pickles said: "Communities will no longer have to endure the previous government's failed Soviet tractor style top-down planning targets - they were a terrible, expensive, time-consuming way to impose house building and worst of all threatened the destruction of the Green Belt. "Today I'm revoking regional plans with immediate effect - hammering another nail in the coffin of unwanted and an unaccountable regional bureaucracy." "I promised to get rid of them and today I'm revoking regional plans with immediate effect - hammering another nail in the coffin of unwanted and an unaccountable regional bureaucracy. They were a national disaster that robbed local people of their democratic voice, alienating them and entrenching opposition against new development. "Regional Strategies built nothing but resentment - we want to build houses. So instead we will introduce powerful new incentives for local people so they support the construction of new homes in the right places and receive direct rewards from the proceeds of growth to improve their local area." Mr Pickles also pledged that direct and substantial benefits for councils who support construction would be the centrepiece of this radical restoration of local power. The money will be used to help ensure more new homes are built for local people, and matched with more new jobs and investment. From today, power will be handed back to councils and communities to make their own decisions on planning that can get the country building again. Communities will, once again, be able to solve local housing challenges in a way that makes sense for them. In return councils will be offered powerful new incentives that ensure they benefit from development they welcome.
Travis Perkins has agreed to acquire BSS Group for £557m which will see it become the UK's biggest plumbing and heating distributor. Robert Walker, the chairman of Travis Perkins, said: "We are confident this transaction can deliver significant value for the shareholders in the enlarged group." Travis Perkins is paying 435.4p for each BSS share, split between 232.9p in cash and 196.4p in new shares, based on Travis Perkins' closing price yesterday of 753p. It also includes 6.09p to pay the final dividend on BSS's shares. BSS shares closed at 427p. The takeover price is 34 per cent above the closing price of 325p of BSS's shares on 27 May, the day before Travis Perkins revealed it was in "advanced discussions" about acquiring BSS. Travis Perkins said the enlarged group would have the scale to purchase products more "competitively" and would benefit from global sourcing. Along with other efficiencies, such as combined distribution routes, it expects to make annual pre-tax cost savings of at least £25m in 2013.
Education Secretary Michael Gove has set out a complete overhaul of capital investment in England’s schools. Bringing an end to Building Schools for the Future (BSF), he said ‘In the light of the public finances, it would have been irresponsible to carry on regardless with an inflexible, and needlessly complex programme.’ The key elements of the announcement to Parliament are: - 706 schools will be opened under new arrangements being agreed today, of which nearly 386 schools are projected to be new build; 262 to be remodelled or refurbished; 26 to be ICT-only. The building programme in 32 further schools is yet to be confirmed.
- 715 schools will no longer be rebuilt or refurbished through BSF of which nearly 180 schools are projected to be new build, over 319 to be remodelled or refurbished and 63 to be ICT-only. The building programme in 153 schools has not yet been confirmed.
- That 123 academy projects in development which have not reached financial close will be reviewed on a case-by-case basis.
- That in 14 cases, prioritised locally as 'sample' projects - the first taken forward in the area - will be reviewed on a case-by-case basis in recognition of local need. Although financial close has not been reached, very significant work has been undertaken to the point of appointing a preferred bidder at 'close of dialogue'.
- That the Government is launching a comprehensive Review of all capital investment in schools, early years, colleges and sixth forms. Led by Sebastian James, Group Operations Director of DSG international plc, the Review team includes Kevin Grace, Tesco - Director of Property Services, Barry Quirk, Chief Executive of Lewisham, John Hood former Vice-Chancellor of University of Oxford and Sir John Egan, former Chief Executive of Jaguar and BAA.
- The review will guide future spending decisions over the next Spending Review period (2011-12 to 2014-15). It will look at how best to meet parental demand; make current design and procurement cost-effective and efficient; and overhaul how capital is allocated and targeted.
- That the department is reducing its End Year Flexibility (EYF) requirements by £1bn to help ensure no additional borrowing this year. This is in line with the Government’s plan to reduce the deficit, and the Treasury’s announcement today that Departments have agreed to address unrealistic inherited spending commitments for 2010-11, where funding was reliant on underspends through the (EYF) system or additional funding from the Government’s Reserve. The Department expects to be able to manage most of this through better financial management and tighter controls. Because of the size of the reduction, however, the Department will have to make £169.5m savings from capital budgets where commitments are no longer affordable.
The Secretary of State also announced that he will be ending funding for the Commission for Architecture and the Built Environment (CABE) design advice service associated with the BSF programme.
Morgan Sindall Group’s affordable housing division Lovell is set for a major expansion of its housing maintenance business with the acquisition of Powerminster Gleeson Services (“Powerminster”) from MJ Gleeson Group plc. All Powerminster’s contracts, and the company’s 178-strong workforce, will transfer to Lovell Respond, the Lovell response maintenance business. The move brings together the two businesses’ complementary expertise and geographical presence to significantly enhance the range of services offered by Lovell to its social housing partners. Powerminster delivers comprehensive planned and reactive maintenance solutions, including a 24/7 responsive service, to the social housing sector. It specialises in providing long-term estate management services on Private Finance Initiative (PFI) schemes. Lovell Respond’s current business is mainly focussed on the Midlands, whilst Powerminster has a strong presence in the North West, North East and South East of England. Bringing the two together creates a leading reactive maintenance and estates management services business. “This is an important strategic acquisition for the Group,” says Paul Smith, chief executive of Morgan Sindall Group plc. “It gives our existing response maintenance business significant critical mass, creating a nationwide offering and substantially enhancing the range of services we provide. It also leaves us better placed to take advantage of the response maintenance element of future social housing PFI schemes. “Social housing contracts are increasingly being tendered on a combined planned and responsive maintenance basis. This acquisition ensures that we can continue to meet our clients’ needs and further builds on the strong position we hold in the social housing market.”
Balfour Beatty, the international infrastructure group, announced that it has been appointed as preferred bidder by Oldham Council for their Building Schools for the Future (BSF) programme, which is worth up to £175 million. This BSF Programme involves the delivery of new buildings and upgrades to eight of the Borough’s schools, a pupil referral unit and the construction of a new school in Chadderton. The initial phase of construction, which will commence in January 2011, will involve the delivery of the new-build Oldham Roman Catholic School at its new site and the partial rebuild and remodelling of North Chadderton School. Upgrades, expansions and new buildings for the other schools will commence between 2012 and 2014, with all construction work completed by 2015. All construction and facilities management will be carried out by Balfour Beatty. ICT services across all the schools will be delivered in conjunction with Northgate, a leading provider of ICT educational solutions. Commenting today Balfour Beatty Chief Executive, Ian Tyler, said: “We are delighted to have been awarded preferred bidder status for Oldham Council’s BSF scheme. We look forward to developing a Local Education Partnership with the Council and Partnerships for Schools to deliver excellent design and value for all schools in the programme, as well as maximising the economic benefit to the Borough.” Balfour Beatty will invest equity of £3.2 million into the delivery of the first sample school, Oldham Roman Catholic School,
Galliford Try plc, the housebuilding and construction Group, announced that its Water business has, in a joint venture with Imtech, known as GTM, been awarded a five-year special projects framework worth up to £90 million by Anglian Water. The framework will consist of one-off large schemes during AMP5. Large schemes completed by Galliford Try and Imtech during the previous AMP included biosolids treatment plants at King’s Lynn and Great Billing and a water treatment plant at Wing in Rutland. Greg Fitzgerald, Chief Executive of Galliford Try plc, commented: “We are delighted to renew our longstanding relationship with Anglian Water, underlining our leading market position in long term frameworks for the water sector.”
A Carillion Joint Venture, Carillion Secure Solutions, has been selected to design, build, finance and maintain Toronto’s Forensic Services and Coroner’s Complex (FSCC).
The FSCC will house Ontario’s Centre of Forensic Sciences and its Office of the Chief Coroner in a single facility that will include forensic laboratories, offices, autopsy suites and two courtrooms for coroners’ inquests. The 30-month construction period will begin on site in August 2010.
The project will be delivered using an Alternative Financing and Procurement model, which is similar to the UK’s Public Private Partnership model. As well as arranging debt finance to meet the costs of construction, Carillion will invest £11.8 million of equity in the project.
Carillion will also carry out the construction work and provide facility management and life-cycle repair services over the 30-year concession period that together are expected to generate £306 million of revenue for Carillion.
Chief Executive John McDonough said: “We are delighted to have achieved financial close on this prestigious project, which further reinforces our leading position in the PPP market for social infrastructure in Canada, where we have established a very strong track record. We look forward to working with Ontario’s Ministry of Community Safety and Correctional Services and its stakeholders to provide Ontario with one of the most modern facilities of this kind in the world.”
Carillion is one of the leading providers of privately financed social infrastructure facilities in Canada. In addition to the FSCC project, Carillion is currently building and financing Toronto’s Centre for Addiction and Mental Health, the Sault Area Hospital and the Royal Victoria Hospital in Barrie, having successfully delivered two of the first major Public Private Partnership hospitals in Canada – the new William Osler Hospital in Toronto and the Royal Ottawa Hospital.
Balfour Beatty, the international infrastructure group, announced that it has been appointed as preferred bidder by Derby City Council for their £231 million Building Schools for the Future (BSF) programme. This BSF Programme involves the design and new build or refurbishment of 14 schools in the city with funding for three schools to be raised through a Balfour Beatty led PPP concession. All construction and facilities management will be carried out by Balfour Beatty. ICT services across all the schools will be delivered in conjunction with RM, a leading provider of ICT educational solutions. The initial phase of the scheme will begin in November of this year with the new build of Noel-Baker Community School and Language College and St Martins School, together with the major refurbishment of Derby Moor Community Sports College. All of these schools are scheduled to open for the new academic year in September 2012. Upgrades and new builds of the other schools will commence once financial close has been achieved with all work to be completed for the new academic year in September 2014. Commenting today, Balfour Beatty Chief Executive, Ian Tyler, said: "We are delighted by this preferred bidder award and the opportunity to further strengthen our relationship with the City of Derby. We look forward to developing a Local Education Partnership with the Council and Partnerships for Schools to deliver excellent design and value for all schools in the programme, as well as maximising the economic benefit to the City." Balfour Beatty will invest equity of £6.6 million into the 25-year concession to operate and maintain the school facilities and provide related services for the three PPP schools.
Morgan Sindall Group plc, the construction and regeneration group,has been awarded a £95.4 million contract to design and build the Tayside Acute Adult Mental Health Developments scheme in Scotland. Morgan Sindall, the Group's construction and infrastructure division, working with Morgan Sindall Investments Limited and Robertson Capital Projects, on behalf of NHS Tayside and the North of Scotland Planning Group, will design and build new mental healthcare facilities at Murray Royal Hospital in Perth and Stracathro Hospital in Angus. The inpatient facilities provided will create 183 new bed spaces at Murray Royal Hospital, with an additional 52 at Stracathro Hospital. Work at Stracathro Hospital in Angus is scheduled to complete in September 2011 and at Murray Royal Hospital in April 2013. Paul Smith, Chief Executive of Morgan Sindall Group plc, said:
"We are very pleased the scheme has reached financial close and we have been chosen to deliver these major healthcare projects. This appointment recognises our expertise in the design and delivery of high-value, complex facilities, particularly PPP and PFI hospitals. This contract demonstrates how the combined skills of the new Morgan Sindall construction and infrastructure division, supported by Morgan Sindall Investments, enables us to provide state-of-the-art facilities. It also enhances our position as one of the leading construction groups in the health sector."
ISG , a provider of Construction , Fit Out and Management Services, announced that it has acquired Olson Enterprises CJSC (“Olson”), a specialist Fit Out company based in Moscow, Russia.
Olson, established in 1992, delivers high quality fit out and M&E maintenance services primarily to international companies. Olson was formerly a subsidiary of Skanska, the international construction group, before being sold to private investors in 2006.
ISG signed a joint venture agreement with Olson in March 2009 to expand its delivery capability in Eastern Europe and to date has successfully collaborated with Olson on three projects for multinational clients. This heritage and that many of Olson’s clients are also clients of ISG are the key reasons behind this acquisition. Olson’s turnover in 2009 was £6m and it employs 125 people.
ISG has acquired the entire share capital of Olson for a nominal amount and agreed to invest up to £800,000 (R40m) in working capital to refinance existing vendor loans and to support Olson’s future growth
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David Lawther, Chief Executive of ISG, said: “Acquiring Olson demonstrates ISG’s commitment to provide a high quality service to our multinational clients in Moscow, an important and expanding market for them. Olson’s considerable experience and knowledge of the local supply chain has already benefited clients and we plan to be able to expand the depth and range of their services.”
Balfour Beatty, the international infrastructure group, announces today that it has been selected, as part of the Denver Transit Partners (DTP) team, to construct the Eagle P3 commuter rail project in the Denver metropolitan area of the United States. As well as Balfour Beatty Rail and Parsons Brinckerhoff, Balfour Beatty’s professional services arm, the DTP team includes Ames Construction, Hyundai-Rotem USA (Hyundai), Alternative Concepts, Inc. (ACI), Fluor/HDR Global Design Consultants, PBS&J, Interfleet Technology, Systra, Wabtec and many others. The DTP venture is led by Fluor Corporation and Macquarie Capital Group Limited. The DTP team has been selected as preferred bidder by the Denver Regional Transportation District (Denver RTD) and will design, build, finance, operate and maintain the multi-billion dollar Eagle project which includes: - East Corridor: a new 23.6 mile commuter rail line from Union Station to Denver International Airport;
- Gold Line: a new 11.2 mile commuter rail line from Union Station to Wheat Ridge;
- A two-mile initial segment of the Northwest Rail Corridor;
- Approximately 50 new electric-powered commuter railcars; and
- A new commuter rail maintenance facility.
Once financial close is achieved, Balfour Beatty will be responsible for a 50% share of the engineering, procurement and construction contract and a 33% share of the operations and maintenance contract. Commenting today, Balfour Beatty Chief Executive, Ian Tyler, said: “We are delighted to be a key part of the DTP team for this transformational project for the citizens of Denver. This project demonstrates the capabilities the Balfour Beatty Group can deliver for major infrastructure owners. We look forward to continuing our successful relationship with our partners and the community to deliver this prestigious project.” The Eagle Project is part of RTD’s FasTracks Plan, a 12-year multi-billion dollar transit expansion programme to build and operate new commuter and light rail services and expand transportation offerings throughout the eight-county Denver area. The final contract and financing of the Eagle P3 project is expected to be concluded before the end of 2010.
Morgan Sindall Group plc’s construction, infrastructure and design business Morgan Sindall has been selected by Suffolk County Council for an £18.5 million contract to design and build East Anglia’s first purpose-built sixth form college in Lowestoft. Morgan Sindall will construct the new Lowestoft Sixth Form College at the Lowestoft College campus in St Peter’s Street. The state-of-the-art facility will accommodate around 950 pupils and will replace the existing sixth forms at three high schools in the town. The four-storey building will house a large performing arts space, specialist teaching facilities equipped with the latest information technology systems, and learning pods suspended from a central atrium. Morgan Sindall will also create new car parking facilities and carry out additional landscaping works. The new sixth form building will achieve a BREEAM rating of ‘Excellent’ and will incorporate a number of sustainable features including high levels of insulation, rainwater harvesting and photovoltaic technology which converts sunlight to energy. In addition, Morgan Sindall will create a series of concrete ducts beneath the building to supplement its heating supply with natural thermal energy from the earth’s core. The project is due to be completed in August 2011.
MTR Corporation, the operator of the mass transit rail system in Hong Kong, has awarded a £100m (HK$1039m) contract to a Laing O’Rourke/Bachy Soletanche joint venture, for the underground construction of a section of the approach tunnels for the station complex in West Kowloon.
The award, Contract 811a, is part of MTR’s massive Guangzhou-Shenzhen-Hong Kong Express Rail Link (Hong Kong Section) Project, and is for the West Kowloon Terminus Approach Tunnels (North). The work will comprise the construction of tunnels using cut & cover techniques on the station’s approach.
The 26-km long Hong Kong Section of Guangzhou-Shenzhen-Hong Kong Express Rail Link (The Express Rail Link) starts from West Kowloon, Hong Kong to the boundary of Hong Kong and Shenzhen, and will connect with the 16,000 km Chinese National High-speed Railway Network. Construction works for the Express Rail Link commenced in January 2010 with target completion by 2015.
Mike Robins, Laing O’Rourke’s Managing Director, Hong Kong said, “The Express Rail Link project is part of a major investment programme in rail infrastructure in Hong Kong, and we are delighted to be appointed with our partner to one of the initial sections of this complex and challenging rail infrastructure development.” Laing O'Rourke has already established a presence in Hong Kong's fiercely competitive railway construction market. It has worked with the MTR Corporation to construct and maintain the Tseung Kwan O extension line, with technicians and engineers carrying out infrastructure improvement and maintenance programmes to support the line’s 24/7 operation. Other Laing O’Rourke teams deliver major multi-disciplinary rail projects and maintenance services in the UK, Australasia and Saudi Arabia.
The Interserve-led consortium Environments for Learning (E4L) has been named preferred bidder to undertake a major schools development programme for St Helens Council worth provisionally £150 million. The programme will operate under the Building Schools for the Future (BSF) initiative. Interserve will construct two schools, with a capital cost of £47 million, in the first phase: Rainford High Technology College and De La Salle School. Rainford will be financed using the private finance initiative (PFI) and Interserve will provide facilities management services worth £8 million to the school over a 25-year period once complete. Six further schools, worth an aggregate of over £100 million in construction costs, have been identified for subsequent development. Two of these will be procured through PFI. E4L and St Helens Council will, together with BSF Investments, become partners in St Helens’s Local Education Partnership (LEP). We anticipate reaching financial close on the contract in the autumn this year; construction will begin immediately afterwards, leading to the first schools being ready to accept pupils for the start of the academic year in September 2012. Interserve’s Chief Executive, Adrian Ringrose, commented, “St Helens Council has clearly shown its commitment to providing children in the area with the latest educational facilities, and we will play our part in ensuring that the schools we build will deliver the benefits the community needs. Interserve is one of the country’s most experienced and successful companies in creating schools through BSF. This is our third such development programme, alongside Sandwell in the West Midlands and our award-winning partnership at Leeds.”
The Apollo Group has acquired responsive maintenance company, FWA West Ltd, in its latest move to offer integrated property services across the UK.The acquisition follows the appointment of Duncan Forbes, previously Chief Operating Officer within the Willmott Dixon Group, who will to head up the new business stream. Dave Sheridan, CEO of Apollo, comments: “This acquisition plays an integral part in our business strategy. Although we already and continue to run a number of successful responsive maintenance contracts, FWA West Ltd enables us to complete the puzzle and puts our integrated property services offering on firm footing. “FWA West Ltd is the keystone and the first steps in our plans to grow a locally delivered property repairs business for the public sector across our existing UK infrastructure. We will build on the successful relationships the Company and Apollo has with its clients, particularly Spire Homes, and will be injecting fresh investment through an advanced IT-driven service management system. The new technology will take service levels to greater heights and will support our national growth.” FWA’s Slough-based head office will be retained along with its staff. Apollo’s regional operations will facilitate further localised responsive maintenance services. The new business stream will be rebranded to fit with the existing Apollo brands in the near future.
Carillion has been awarded a 10-year framework contract to provide facilities management services at Heathrow Airport. The first two contracts awarded to Carillion under the framework are for the provision of bundled service solutions for Terminal 1 and Terminal 3.
At Terminal 1, the contract is worth £23 million over an initial period of three years, with an option to extend this to seven years. At Terminal 3, the contract is worth £27 million over an initial period of three years, with an option to extend this to 10 years.
Carillion will use its first-class capabilities and industry-leading best practice to meet the complex demands of these contracts to ensure compliance with the high operational and statutory requirements of these critical public environments.
The services to be provided will comprise both hard and soft facilities management, including planned and reactive mechanical, electrical, and building fabric maintenance, together with cleaning, compliance and pest control.
Carillion Chief Executive, John McDonough, said: “We have a strong long-term relationship with BAA and we are delighted that this is being extended through these important new contracts. We look forward to continuing our partnership with BAA to support them in achieving Heathrow Airport’s vision to ‘make every journey better’.
The Miller Group, the UK’s largest privately owned housebuilding, property development and construction services business, has today announced the appointment of Chris Webster as Chief Executive of Miller Construction (UK) Ltd. Chris will succeed Robin Mackie who retires after 22 years at The Miller Group. Former Chief Operating Officer and Main Board Director of Amey plc, Chris will also join The Miller Group Board in September 2010. Keith Miller CBE, Group Chief Executive, said: “We are delighted that Chris is joining The Miller Group. He is coming to our business at an interesting time when the sector is facing some of its greatest challenges. However, Miller Construction has delivered record turnover for the second year in a row and we are confident that Chris’ appointment will see the Division continue to grow and prosper.”
Speaking of his appointment, Chris Webster said: “Miller has a reputation in the marketplace for partnering, quality and outstanding delivery. I intend to ensure that reputation is both maintained and enhanced. There are a number of exciting projects which are about to come on line and I am looking forward to working on them and to meeting the teams across the UK.” Chris’ early career was spent both overseas and in the UK on a variety of building and heavy civil engineering projects. He joined Amey in 1990 as a Project Manager and was appointed Chief Operating Officer in 2007. During his time there, Chris worked with a number of key clients including the Highways Agency, Scottish Executive and Network Rail.
Keith Miller concluded: “This appointment is a clear indication of The Miller Group’s ambition to broaden and further develop our Construction business. Chris’ experience and track record in achieving meaningful strategic change is exemplary. I look forward very much to working with him to build on our achievements to date and to create the platform for further diversification and growth.”
Bellway Homes has been selected as the development partner for the £65m Pembury Circus residential and regeneration project in east London. The land has been sold to Bellway with development obligations including provision of affordable homes to housing association The Peabody Trust to be built to an agreed specification. The development will be mostly residential with a mix of private and affordable housing but will also include a multi-use community facility. The 0.9 ha site is situated in the London Borough of Hackney at the south west corner of the Pembury estate with frontage on Clarence Road, Dalston Lane and Pembury Road. The project is expected to run for five years.
Keller Group plc , the international ground engineering specialist, has acquired privately-owned Waterfront Services Pty Limited, a Sydney-based near-shore marine foundation contractor trading as Waterway Constructions. The total consideration, to be paid in cash from the Group’s existing facilities, will comprise an initial payment of A$37m (£21m), including an estimated A$7m (£4m) of acquired net cash, together with a maximum deferred consideration of A$12m (£6.8m), based on future profits in the three years to 30 June 2013. Waterway specialises in the construction of foundations for wharves, jetties and other marine structures and the maintenance and extension of existing structures. The business was formed in 1993 and has since grown to become one of the largest specialist near-shore marine foundation contractors on the east coast of Australia, with a strong reputation for excellence in engineering. Waterway will maintain a strong presence in New South Wales whilst looking to increase its penetration of the Queensland and Victoria markets. In the medium term, there are good prospects for expansion into Western Australia, where planned minerals and energy projects are expected to generate strong demand for both land and near-shore marine based foundation services. The acquisition also offers strong potential for synergy with the Group’s existing foundation businesses, uniquely positioning Keller Australia to offer combined packages of land and near-shore marine foundation solutions. In the year ending 30 June 2010, Waterway is expected to report an operating profit of around A$7m (£4m) on revenue of about A$55.0m (£31m). However, going forward Keller expects the operating margin to ease back to its historic level of around 10%. Gross assets at 31 December 2009 were A$37m (£21m). Commenting on the acquisition, Justin Atkinson, Chief Executive of Keller, said: “Waterway is a highly respected and growing company which strongly complements our existing business in Australia. As the demand for a combination of land and marine based foundation services continues to grow, we are delighted that in future customers of Keller Australia will be able to benefit from a packaged solution which meets this need. “This acquisition will consolidate our position as foundations market leader in Australia, enabling us to take full advantage of the excellent opportunities we are continuing to see in this strong market.”
Capital Gate, an office and hotel complex in the United Arab Emirates (UAE) set for completion by the end of 2010, has been certified as the World's Furthest Leaning Man-made Tower by Guinness World Records. The building, owned and developed in the UAE capital by Abu Dhabi National Exhibitions Company (ADNEC), has been built to lean 18 degrees westwards, more than four times that of the world famous Leaning Tower of Pisa. The building's floor plates are stacked vertically up to the 12th storey after which, they are staggered over each other by between 300mm to 1,400mm giving rise to its dramatic lean, according to Arabian Business. When completed by the end of this year, Capital Gate, designed by Britain-based international architecture firm RMJM, will house a five-star hotel and about 20,000 square meters of premium office space, the report said.
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