Latest news with #BalfourBeatty
BBC News
2 days ago
- Business
- BBC News
Bradford city centre regeneration projects wins regional Yorkshire awards
Engineering projects in Bradford have won several top awards at a regional Live and the city centre pedestrianisation were recognised at the Yorkshire & Humber Constructing Excellence awards, which took place at the Royal Armouries in pedestrianisation scheme won Infrastructure Project of the Year and the Best of the Best award, while the refurbished former Odeon, officially due to open in August, won the Conservation and Regeneration two winning projects will now compete in a national awards ceremony later this year. Bradford Live beat other projects including two from Bradford in the same category: Darley Street Market, and Shipley Sustainable Community Hub, the Local Democracy Reporting Service (LDRS) also faced non-Bradford projects including the refurbishment of Hull's Maritime Museum and Leeds City College's Mabgate Bradford projects were funded by West Yorkshire Combined Authority's Transforming Cities Fund and run by construction firm Balfour work to re-open Bradford Interchange after a year-long closure, carried out by the construction firm, was shortlisted and highly commended in the Integration and Collaborative Working Award. The awards celebrate the built environment and construction industry and are organised annually by Leeds Beckett University's School of Built Environment, Engineering and Computing. Listen to highlights from West Yorkshire on BBC Sounds, catch up with the latest episode of Look North
Yahoo
4 days ago
- Business
- Yahoo
City centre pedestrianisation works and Bradford Live win big at awards ceremony
BRADFORD Live and the pedestrianisation of Bradford city centre have both won top awards at a ceremony celebrating Yorkshire's greatest engineering projects. The refurbished former Odeon building, which is due to officially open next month, won the Conservation and Regeneration award at the Yorkshire Constructing Excellence awards on Thursday evening. And the work that has seen much of Bradford city centre pedestrianised won Infrastructure Project of the Year – and then nabbed the Best of the Best award at the end of the ceremony at Leeds Royal Armouries. The two winning projects will now compete in a national awards ceremony later this year. The auditorium in Bradford Live (Image: Bradford Council) Bradford Live beat numerous other projects, including two more from Bradford. Darley Street Market and the Shipley Sustainable Community Hub in the same category. They also faced non-Bradford projects like the refurbishment of Hull's Maritime Museum and Leeds City College Mabgate Campus. The city centre pedestrianisation project beat schemes including work to Armley Gyratory, the Copley Flood Alleviation Scheme and Filey Seawall repairs. A pedestrianised Broadway (Image: T&A) It was undertaken by Balfour Beatty on behalf of Bradford Council and was funded through the West Yorkshire Combined Authority Transforming Cities Fund. Work by Balfour Beatty to re-open Bradford Interchange after a year-long closure had been shortlisted for the Integration and Collaborative Working Award, and although it didn't win the category it was named 'highly commended.' Organised annually by the School of Built Environment, Engineering and Computing at Leeds Beckett University, the awards are a celebration of the built environment and the construction industry. Norfolk Gardens (Image: T&A) Scott Donson, Portfolio Director at Balfour Beatty, commented: 'Winning this award is a fantastic recognition of our teams' hard work and commitment. This project reflects our dedication to collaboration, innovation, and creating meaningful infrastructure that benefits local communities. Bradford holds a bright future, and we are proud to have played a key role in its regeneration efforts.' Adam Copland, Associate from Turner & Townsend, who were appointed by Bradford Live to project manage the redevelopment the former Odeon, said: 'This was an incredible scheme to be part of, creating an iconic entertainment venue that that will contribute to Bradford city centre's regeneration.' Councillor Alex Ross-Shaw, Bradford Council's Executive Member for Regeneration, Planning and Transport said: 'There is so much going on in the Bradford district that we are now finding that we're competing against ourselves at these kind of awards. 'Winning and being shortlisted for these awards is a great credit to all our staff and partners who have worked so hard on these amazing projects, and nice to receive the recognition of all that work on top of the fantastic public feedback we've had so far.'
Yahoo
10-07-2025
- Business
- Yahoo
Balfour Beatty breaks ground on $260M DC apartment building
This story was originally published on Construction Dive. To receive daily news and insights, subscribe to our free daily Construction Dive newsletter. The U.S. arm of London-based Balfour Beatty broke ground on Portals IV, also known as 1301, a $260 million residential project in Washington, D.C., that will overlook the city's Tidal Basin and national monuments, the builder announced on July 2. The 525,000-square-foot apartment building, located at 1301 Maryland Ave. SW, is part of The Portals Complex, a public-private partnership with the city. The aggregate market value of the partnership is in excess of $2 billion, and will total approximately 3 million square feet upon 1301's completion, according to the builder. The complex already includes Class-A office buildings and the luxury Salamander Hotel, and will now feature two high-end residential buildings once 1301 and its plaza join neighboring apartment building 1331, per the release. The 1301 apartment building will contain 356 market-rate residences and — similar to its sister building — will feature a rooftop pool, according to the news release. In addition, the luxury project will include a sky terrace with grills and firepits, along with clubroom entertaining areas such as a piano lounge, coworking spaces, dog spa and park, fitness center and game lounge with sports simulator. 'Our expertise in delivering successful projects across Southwest D.C. demonstrates our deep understanding of this unique development and our ability to deliver complex construction projects in one of D.C.'s most prestigious locations,' said Art Malacarne, Balfour Beatty senior vice president of Mid-Atlantic operations, in the news release. The development comes amid a potentially transformative time for the District of Columbia — the NFL's Washington Commanders in April signed a $4 billion deal to return to the Robert F. Kennedy Memorial Stadium campus in the Southeast quadrant of the city. Officials expect the new stadium to open in 2030, but infighting among the city's government could jeopardize that target date, per Axios. In addition, the city is seeing a large swath of new developments, including The Stacks in the city's Buzzard Point neighborhood. Correction: The address of Portals IV is 1301 Maryland Ave. SW in Washington, D.C. Recommended Reading On site: Checking in at the Waldorf Astoria's $2B renovation Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
The Star
08-07-2025
- Business
- The Star
UK builders find support in Labour's plan to upgrade roads, railways
LONDON: British infrastructure firms stand to benefit from the Labour government's spending plans for roads, railways and energy projects, with strong order books expected to feed into improving outlooks during the upcoming earnings season. Companies including Balfour Beatty Plc, Costain Group Plc, Morgan Sindall Group Plc and Kier Group Plc are lined up to win orders after Chancellor of the Exchequer Rachel Reeves announced £113bil (US$154bil) of funding for public infrastructure across the United Kingdom last month. That includes £39bil to build affordable homes, £14bil for the Sizewell C nuclear project in Suffolk and £15bil for new transport infrastructure across the north and midlands. 'The general pitch will be quite healthy,' Investec Bank Plc analyst Aynsley Lammin said. He highlighted that an array of energy, water and housing contracts is already in the works, while the commitments made in Reeves' spending review will brighten the outlook and provide visibility on a steady order pipeline. An improvement would be welcome. UK commercial building activity has been in contraction territory since January, according to S&P Global's overall construction purchasing managers' index. The confidence level edged up to 48.8 in June, marking the slowest decline in construction output this year and reversing the downward trend. A reading below 50 indicates a reduction in activity. 'It might be too early for upgrades, but the risk is definitely on the upside,' Lammin said. 'At the very least it will be a strong underpinning, with expectations that margins and volumes will accelerate from next year.' Order books for listed UK infrastructure firms are at or near record levels already, according to Deutsche Numis analyst Jonathan Coubrough. While government spending pledges tend to take several years to convert into construction activity, secured projects like Sizewell C can have a faster impact, Coubrough said. He expects the nuclear project to contribute to solid order-book growth in the upcoming earnings season, particularly for Balfour Beatty, which was awarded contracts worth as much as £400mil a year until 2030. High-speed rail project HS2 and BP Plc and Equinor ASA's joint venture Net Zero Teeside Power – a gas-fired power station with carbon capture – will also support profit gains over this year and the next for Balfour Beatty, Bloomberg Intelligence analyst Sonia Baldeira wrote in a note. The London-based firm is the 'clear market leader in energy and power markets,' and should see the fastest growth among its peers this year as power firms increase their grid investments, Coubrough said. He expects Morgan Sindall, Kier and Costain to benefit from upgrades to the UK's water infrastructure. Costain in particular is set to be a major beneficiary of AMP8, a regulatory overhaul of the UK water industry that aims to modernise infrastructure and address environmental challenges, according to Investec's Lammin. The company is working to deliver 260kms of new pipelines to enhance drought resilience in eastern England, and recently entered an agreement with United Utilities Group Plc to upgrade water and wastewater treatment sites as part of a £3bil project that will last until 2030. Morgan Sindall is 'exceptionally well positioned' to deliver on the government's affordable housing commitments, Lammin said. It already raised its outlook for 2025 last month, with its construction division set to outperform revenue and profit expectations. Kier, which specialises in road, prison and hospital infrastructure, lifted its medium-term operating profit margin goal, showing confidence in its pipeline. Kier's ongoing turnaround is 'delivering solid results,' with a record £11bil of orders in the fiscal first half supporting its move toward growth after a period focused on paring debts, BI's Iwona Hovenko said. Still, delays in planning approval, difficulties in securing funding and inflationary pressures might complicate the delivery of such projects and the steady earnings growth that is expected to come with them. 'The administrative process of planning and getting these things funded takes time and usually longer than everybody hopes for,' Lammin said. The biggest obstacle is engineering capability and human resources, according to Coubrough, particularly for complex projects such as power grid upgrades and tunnel projects. The shortage of skilled workers can in turn increase construction costs, worsening funding challenges. — Bloomberg
Business Times
07-07-2025
- Business
- Business Times
UK builders find support in Labour's plan to upgrade roads and railways
[LONDON] British infrastructure firms stand to benefit from the Labour government's spending plans for roads, railways and energy projects, with strong order books expected to feed into improving outlooks during the upcoming earnings season. Companies including Balfour Beatty, Costain Group, Morgan Sindall Group and Kier Group are lined up to win orders after Chancellor of the Exchequer Rachel Reeves announced £113 billion (S$196.4 billion) of funding for public infrastructure across the UK last month. That includes £39 billion to build affordable homes, £14 billion for the Sizewell C nuclear project in Suffolk and £15 billion for new transport infrastructure across the north and midlands. 'The general pitch will be quite healthy,' Investec Bank analyst Aynsley Lammin said. He highlighted that an array of energy, water and housing contracts is already in the works, while the commitments made in Reeves' spending review will brighten the outlook and provide visibility on a steady order pipeline. An improvement would be welcome. UK commercial building activity has been in contraction territory since January, according to S&P Global's overall construction PMI. The confidence level edged up to 48.8 in June, marking the slowest decline in construction output this year and reversing the downward trend. A reading below 50 indicates a reduction in activity. 'It might be too early for upgrades, but the risk is definitely on the upside,' Lammin said. 'At the very least it will be a strong underpinning, with expectations that margins and volumes will accelerate from next year.' Order books for listed UK infrastructure firms are at or near record levels already, according to Deutsche Numis analyst Jonathan Coubrough. While government spending pledges tend to take several years to convert into construction activity, secured projects like Sizewell C can have a faster impact, Coubrough said. He expects the nuclear project to contribute to solid order book growth in the upcoming earnings season, particularly for Balfour Beatty, which was awarded contracts worth as much as £400 million a year until 2030. A NEWSLETTER FOR YOU Tuesday, 12 pm Property Insights Get an exclusive analysis of real estate and property news in Singapore and beyond. Sign Up Sign Up High-speed rail project HS2 and BP and Equinor ASA's joint venture Net Zero Teeside Power – a gas-fired power station with carbon capture – will also support profit gains over this year and the next for Balfour Beatty, Bloomberg Intelligence analyst Sonia Baldeira wrote in a note. The London-based firm is the 'clear market leader in energy and power markets,' and should see the fastest growth among its peers this year as power firms increase their grid investments, Coubrough said. He expects Morgan Sindall, Kier and Costain to benefit from upgrades to the UK's water infrastructure. Costain in particular is set to be a major beneficiary of AMP8, a regulatory overhaul of the UK water industry that aims to modernise infrastructure and address environmental challenges, according to Investec's Lammin. The company is working to deliver 260 kilometres of new pipelines to enhance drought resilience in eastern England, and recently entered an agreement with United Utilities Group to upgrade water and wastewater treatment sites as part of a £3 billion project that will last until 2030. Morgan Sindall is 'exceptionally well positioned' to deliver on the government's affordable housing commitments, Lammin said. It already raised its outlook for 2025 last month, with its construction division set to outperform revenue and profit expectations. Kier, which specialises in road, prison and hospital infrastructure, lifted its medium-term operating profit margin goal, showing confidence in its pipeline. Kier's ongoing turnaround is 'delivering solid results,' with a record £11 billion of orders in the fiscal first half supporting its move toward growth after a period focused on paring debts, BI's Iwona Hovenko said. Still, delays in planning approval, difficulties in securing funding and inflationary pressures might complicate the delivery of such projects and the steady earnings growth that is expected to come with them. 'The administrative process of planning and getting these things funded takes time and usually longer than everybody hopes for,' Lammin said. The biggest obstacle is engineering capability and human resources, according to Coubrough, particularly for complex projects such as power grid upgrades and tunnel projects. The shortage of skilled workers can in turn increase construction costs, worsening funding challenges. Another headwind, more short-term and unpredictable, is the macro backdrop, Lammin said, referring to the bond market's nervous reaction to the recent speculation about a potential departure of Reeves as Chancellor. The sharp market moves brought to the fore the fragility of Britain's economic position, as the government attempts to balance ambitious spending – in infrastructure and beyond – with fiscal discipline. Bond and equity markets recovered some of their losses after Prime Minister Keir Starmer quashed the speculation, giving Reeves his full backing. BLOOMBERG
