Latest news with #StrategicPlan
Yahoo
14 hours ago
- Business
- Yahoo
The UI will use parts of $15M in funding on an art building reno, exercise oncology clinic
Tapping into its nearly $1 billion public-private partnership (P3) endowment fund, the University of Iowa plans to invest $15 million to support various projects across campus, anchored by a renovation, a new clinic, and initiatives aimed at staff retention. The P3 funding originated in 2020, when the Iowa Board of Regents approved the University of Iowa to enter a 50-year partnership with ENGIE North America and Meridiam. More: Finding connection and healing, how a free Iowa City yoga class is helping curb addiction ENGIE paid $1.1 billion upfront to manage the UI's utility system for 50 years. In 2020, the university spent $153 million to pay off existing debt and $13 million to cover consulting fees. The remainder of the upfront payment, around $999 million, will go into an endowment to fund the University of Iowa's Strategic Plan. The five priorities for the 2022-2027 plan include: excellence in teaching and learning, innovative research and creative discovery, welcoming environment, holistic well-being and success, and transformative societal impact. "The P3 program helps us turn great ideas into real progress," said Kevin Kregel, executive vice president and provost, in a news release. "By aligning our investments with areas of need and opportunity, we are achieving new levels of student success, faculty excellence, and impact across the university." The endowment allows "the university to invest about $15 million per fiscal year." Here is how the University of Iowa will use the $15 million in fiscal year 2026: The University of Iowa is investing $3 million to renovate the Performing Arts Annex (formerly the Old Museum of Art) at 150 North Riverside Drive, which will become the home of the Department of Dance. The $37 million renovation that will transform the 88-year-old building into the new home of the UI's Graduate College, the College of Education—Art Education and Maker Space, and the School of Planning and Public Affairs. The university previously used $6 million in P3 funds to support the project. More: University of Iowa plans $37M Art Building renovation to house grad college, college of education The building sustained significant flood damage in 2008 and was restored to its original state with Federal Emergency Management Agency funds. Work on the latest renovation started in February. The project will be substantially complete by August 2026. The University of Iowa will take on a three-year, $642,896 project to create an exercise oncology clinic. The clinic will focus on "improving the health and quality of life for cancer survivors" through "personalized exercise programs and advanced imaging technology." More: The University of Iowa's College of Law has promoted its interim dean. What to know The clinic will be part of the Department of Health and Human Physiology and serve as "a clinical research hub" exploring the benefits of physical activity in rehabilitation for cancer survivors. The University of Iowa's remaining $11.36 million in P3 funding will support "additional strategic plan initiatives throughout the year," according to a news release. However, $4 million of the reserved funds will support the "High Impact Hiring Initiative," which aids in recruiting and retaining elite faculty across colleges and departments. More: A new country bar moves in, Fieldhouse finds a new home in downtown Iowa City shakeup The University of Iowa has invested P3 funds into the "High Impact Hiring Initiative" since 2021, supporting "75 faculty recruitments and 32 retentions across 10 colleges." Jessica Rish is an entertainment, dining and education reporter for the Iowa City Press-Citizen. She can be reached at JRish@ or on X, formerly known as Twitter, @rishjessica_ This article originally appeared on Iowa City Press-Citizen: How is the University of Iowa planning to spend $15M in funding?
The Sun
3 days ago
- Politics
- The Sun
Women in civil service are nation-builders, not just supporting figures
PUTRAJAYA: Women in the civil service are not just supporting figures in government agencies but capable leaders, policy thinkers, and nation-builders, said Chief Secretary to the Government Tan Sri Shamsul Azri Abu Bakar. Citing 2023 data from the Public Service Department (PSD), he noted that women made up 59.3 per cent of the public sector workforce, or a total of 765,616 employees, surpassing the number of male civil servants. 'The hand that rocks the cradle is capable of rocking the world. This is very much in line with the seventh target under the MADANI Economy framework, which aims for a 60 per cent female labour force participation rate by 2033.' Shamsul Azri made the remarks during the closing ceremony of the 43rd Annual General Meeting of the Malaysian Association of Wives and Women Civil Servants (Puspanita), officiated by its patron, Datuk Seri Dr Wan Azizah Wan Ismail, here today. Shamsul Azri, who is also Puspanita's advisor, emphasised that women are no longer just supporters but are agents of change and capable, respected leaders. 'It's not an exaggeration to say that empowering women today isn't only about preserving a legacy of leadership - it's about expanding their reach and strengthening their opportunities,' he said. Shamsul Azri also expressed hope that Puspanita would align its new direction with national development goals through the upcoming PUSPANITA Strategic Plan 2026–2030. 'One key area Puspanita must continue to prioritise is welfare and volunteer programmes,' he added, citing Puspanita's recent on-ground support for victims of the Putra Heights gas pipe explosion as an example of meaningful engagement that brought real impact to affected communities. Also present at the event were Puspanita president Puan Sri Maheran Jamil, Prime Minister's Department senior deputy secretary-general Datuk Abd Shukor Mahmood, and Malaysian National News Agency (Bernama) deputy editor-in-chief Nasriah Darus.
Barnama
3 days ago
- Politics
- Barnama
Women In Civil Service Are Nation-builders, Not Just Supporting Figures
GENERAL PUTRAJAYA, June 25 (Bernama) -- Women in the civil service are not just supporting figures in government agencies but capable leaders, policy thinkers, and nation-builders, said Chief Secretary to the Government Tan Sri Shamsul Azri Abu Bakar. Citing 2023 data from the Public Service Department (PSD), he noted that women made up 59.3 per cent of the public sector workforce, or a total of 765,616 employees, surpassing the number of male civil servants. 'The hand that rocks the cradle is capable of rocking the world. This is very much in line with the seventh target under the MADANI Economy framework, which aims for a 60 per cent female labour force participation rate by 2033.' Shamsul Azri made the remarks during the closing ceremony of the 43rd Annual General Meeting of the Malaysian Association of Wives and Women Civil Servants (Puspanita), officiated by its patron, Datuk Seri Dr Wan Azizah Wan Ismail, here today. Shamsul Azri, who is also Puspanita's advisor, emphasised that women are no longer just supporters but are agents of change and capable, respected leaders. 'It's not an exaggeration to say that empowering women today isn't only about preserving a legacy of leadership - it's about expanding their reach and strengthening their opportunities,' he said. Shamsul Azri also expressed hope that Puspanita would align its new direction with national development goals through the upcoming PUSPANITA Strategic Plan 2026–2030. 'One key area Puspanita must continue to prioritise is welfare and volunteer programmes,' he added, citing Puspanita's recent on-ground support for victims of the Putra Heights gas pipe explosion as an example of meaningful engagement that brought real impact to affected communities. Also present at the event were Puspanita president Puan Sri Maheran Jamil, Prime Minister's Department senior deputy secretary-general Datuk Abd Shukor Mahmood, and Malaysian National News Agency (Bernama) deputy editor-in-chief Nasriah Darus.
New Straits Times
4 days ago
- Automotive
- New Straits Times
Loke: Grab's first EV fleet at KLIA significant step in green push
SEPANG: The launch of Grab's first electric vehicle (EV) fleet at the Kuala Lumpur International Airport (KLIA) marks a significant step in Malaysia's green mobility push, said Transport Minister Anthony Loke. "The launch of this EV service demonstrates the ministry's commitment to boosting the country's transition towards a cleaner, more efficient and environmentally friendly transport system," Loke said at the launch here today. Present was Deputy Minister Datuk Hasbi Habibollah, Land Public Transport Agency director-general Datuk Azlan Shah Al Bakri, Road Transport Department director-general Datuk Aedy Fadly Ramli, Grab Malaysia managing director Adelene Foo and Grab Malaysia country operations and mobility director Rashid Shukor. The service, which begins today, consists of 10 six-seater BYD M6s. The launch also marked the introduction of Grab's EV Lounge at the domestic arrivals concourse — a dedicated waiting area for passengers awaiting their booked rides. Loke highlighted the government's full support, saying that the move aligns with national policies and reinforces the government's commitment toward sustainable mobility. Under the National Transport Policy 2019–2030 and the ministry's Strategic Plan 2021–2025, EVs are a key pillar in reducing carbon emissions and promoting green technology. Loke said he hoped the launch would serve as a catalyst for the expansion of EVs in Malaysia. He acknowledged Sime Darby Bhd — the holder of the BYD franchise in Malaysia — along with Yinson and PlugIt, as key partners in supporting Grab's comprehensive approach "Such cooperation is key to accelerating EV adoption nationwide," he said.
Yahoo
16-06-2025
- Business
- Yahoo
Neinor launches €1,070mn Tender Offer for AEDAS, redefining the residential real estate landscape
Castlelake, owner of a 79% stake in AEDAS, has signed an irrevocable agreement to sell its stake to Neinor for €24.485/sh (€21.335/sh post div.) Acquisition of a premium portfolio with c.€2bn GAV (c.20,200#) at a c.30% NAV discount Conservative underwriting targeting a +20% IRR and 1.8x MOIC, implying significant de-risking and acceleration of Neinor's Strategic Plan 2023-27: Highly accretive transaction, driving €150mn Earnings uplift over 2025-27 (+40% vs Strategic Plan target and c.+25% on EPS), and over c.€300mn of additional profits for 2028-30 Adds c.€900mn FCF over 2025-30 and allows to boost shareholder remuneration with c.€500mn to be distributed over 2025-27 (+44% vs target and c.+30% on DPS) Yet Neinor will maintain a conservative leverage profile with 20-30% LTV given the equity efficient structure of the transaction Strategically, this transaction takes Neinor to the next level, positioning the company as one of the leading European Homebuilders backed by a sizable, high quality land bank (c43,200#) in one of the safest residential markets worldwide The transaction is structured as a voluntary tender offer addressed to 100% AEDAS's shareholders which will be submitted for authorisation by the Comisión Nacional del Mercado de Valores (CNMV) Neinor Homes ('Neinor', today announced a fully backed €1,070mn tender offer to acquire 100% of the share capital of AEDAS Homes ('AEDAS'), executing a bold play to consolidate leadership in Europe's most dynamic housing market. As part of the offer, Castlelake, owner of 79% of AEDAS, has entered into a hard irrevocable agreement to tender its entire stake in the tender offer, providing strong deal visibility and execution certainty. The offer price negotiated with Castlelake values AEDAS at €24.485/share (€1,070mn equity value), with an adjusted acquisition price of €21.335/share after accounting for the €136mn dividends recently announced by AEDAS to be paid in July 2025. The transaction is backed by c.€1.25bn in committed capital injected into a new SPV fully owned by Neinor: c.€500mn in equity supported by Neinor between cash (€275mn) and a capital raise (€225mn) fully underwritten by the company's largest shareholders (Orion, Stoneshield and Adar), and c.€750mn through senior secured notes fully subscribed by funds managed, advised or otherwise controlled by Apollo. The proceeds from the senior secured notes will be used to fund the takeover, as well as to partially refinance certain existing corporate indebtedness of AEDAS and its group. In order to provide certainty of execution to the parties, Neinor has entered into a standby volume underwriting letter with Banco Santander, S.A. and J.P. Morgan SE, under which Banco Santander and J.P. Morgan have agreed to volume underwrite an amount of up to €175mn on a standby basis, on terms customary for this type of agreements. This structure ensures that Neinor's liability is strictly limited to its committed capital, preserving the company's financial flexibility while maintaining a conservative LTV in the region of 20-30%. Completion is subject to CNMV's approval, obtaining other requisite regulatory authorizations and shareholder approval, with closing anticipated in Q4 2025. Strategic acquisition of c.20,200# high-quality portfolio at c.30% NAV discount The acquisition of AEDAS represents a unique opportunity for Neinor to grab a sizable, yet cherry-picked portfolio comprising c.20,200# located across Spain's most dynamic regions. Approximately 50% of the portfolio is concentrated in Madrid, the country's largest and most liquid residential market. Beyond its quality, AEDAS' portfolio offers a high degree of execution certainty with 13.809# under production, 9,049# either under construction or already completed and c.3,700# already pre-sold for €1.7bn in future revenues. The execution embedded provides high visibility on near-term cash flow generation enabling a swift recovery of invested capital in just 3 years and significantly de-risking the transaction from day one. Furthermore, AEDAS portfolio has been conservatively underwritten at a c.30% NAV discount reflecting Neinor's highly disciplined investment strategy. This implies an acquisition price of c.€1,000/sqm for the whole portfolio and €634/sqm for its land bank, reinforcing the strong upside potential embedded in the transaction. Highly accretive transaction to boost profits, dividends and shareholder returns in the short, medium and long term Neinor has delivered a flawless execution across the first two years of its 2023–2027 Strategic Plan, with strong performance in its core pillars: shareholder remuneration and equity-efficient growth. On the first pillar, shareholder remuneration, Neinor initially targeted €600mn in shareholder distributions by 2027 and, so far, has already delivered €325mn, representing 60% of the target. This was driven by: €325mn in build-to-rent portfolio disposals over the past two years A disciplined halt in land acquisitions through most of 2023–24 Solid profitability and cash generation from its core development business Following the announced transaction, Neinor has upgraded its shareholder return target to approximately c.€850mn by 2027, a 44% increase with dividend per share (DPS) rising from €7.1 to €9.4 (+c.30%). Of the new target, c.€850mn, there are roughly €500mn pending to be distributed over the next c.3 years, whilst maintaining a conservative leverage profile with LTV to remain between 20-30%. On the second pillar, equity efficient growth, set a target of €1bn in new investments, of which €500mn would be raised from third-party investors through its asset management platform targeting IRRs above 20%. Up until now, the company has already raised €1.2bn and deployed nearly €900mn, exceeding its initial goals. In the aftermath of this transaction, Neinor is revising upwards its net income target for 2023-27 to approximately €510mn, a 40% increase from the original €360mn. On an earnings per share basis, EPS expected is now c.€5.9, up from €4.8 before, a 25% increase. Accordingly, the company is now targeting a 15-20% ROE, above its initial objective of c.15% - on ROTE the company is now targeting 20-25%, above its initial objective of c.20%. Strengthen Neinor's position as Spanish leading residential platform The acquisition of AEDAS represents the largest M&A transaction in the sector over the last decade and pushes Neinor to strengthen its position as the Spanish leading platform with capacity to build and develop c.43,200# in the coming years. The acquisition by Neinor also means that AEDAS' important residential platform remains under the control of a Spanish listed company in a strategic sector, reinforcing long-term alignment with the national housing market priorities. Even though the Spanish market is, and will continue to be, highly fragmented, post transaction Neinor will emerge as the largest and most diversified residential developer in the country, uniquely positioned to operate at scale across all key regions and housing segments while providing an effective answer and solution for the much-needed housing supply in the country. Beyond size, this platform brings together the best teams and professionals in the sector, combining years of operational excellence, local expertise, and leadership in sustainable and community-focused development. This powerful union strengthens our ability to execute across the full housing spectrum - from premium developments to social and affordable housing, from build-to sell to traditional build-to-rent or new living assets such as flex living, co-living and independent senior living - at the highest standards of quality and efficiency. As the newly formed market leader, we are building the go-to platform for institutional capital seeking exposure to the Spanish residential market. Whether through public markets or private partnerships with Neinor's Asset Management division, investors will now have a single, scaled, professionally managed vehicle through which to invest in the long-term strength of Spain's solid housing fundamentals, demographic growth, and deep demand for quality housing. Borja García-Egotxeaga, Neinor Homes' CEO comments that: 'This is a once-in-a-cycle opportunity to reshape the Spanish residential market. The combination of two best-in-class platforms comes at a pivotal moment - capitalizing on optimal market conditions and positioning Neinor as the go-to platform for institutional investors - both private and public, seeking exposure to the strong fundamentals of Spain's housing sector. With enhanced scale, geographic reach, and product depth, this transaction firmly establishes our leadership across all key segments of the market. But this deal is not just about size and scale - it is also highly accretive, with earnings per share expected to grow by 25% through 2027, underscoring the compelling value creation for our shareholders.' Jordi Argemi, Neinor Homes' Deputy CEO and CFO says: 'This is pure value creation. We've acquired over €3bn in high-quality assets at attractive prices across three landmark M&A deals - Quabit, Habitat and now AEDAS. This transaction alone adds €450mn in earnings potential, is fully funded, and delivers a +20% IRR. It's a textbook case of disciplined, accretive growth -and a clear proof point of what this team can execute across the cycle.'-ENDS- About Neinor Homes Neinor Homes is the leading residential property developer in Spain, with a land bank to develop c.12,000 homes, and a GAV to December 2024 of €1.5bn. This land bank is located in some of the fastest growing regions with the best economic fundamentals in Spain: Madrid, Western and Eastern Andalusia, Levante, Basque Country and Catalonia. Neinor is a fully integrated and well-established residential platform of scale in Spain, covering the entire development value chain from land buying, planning and urban management, product design, delegated development and construction, sales and marketing and rentals. We are committed to creating and delivering attractive risk adjusted returns for shareholders through our disciplined capital allocation strategy and our excellence in operations and risk management. We are the only listed residential property developer with a multi-sector strategy to market in Spain, and our strategies include Build-to-rent (BTR); Build-to-sell (BTS); and the largely untapped senior living rental market in Spain, which we are progressing. Neinor's operational excellence, investment strategy and results achieved since 2019 have enabled us to deliver on our 5-year business plan, launched in March 2023, in a sustainable and capital-efficient manner. This plan combines a €600mn shareholder remuneration plan and an investment of €1bn in new opportunistic land acquisitions, half of which are expected to be undertaken in joint ventures with strategic partners through co-investment agreements, with a +20% IRR target. We offer shareholders attractive risk adjusted returns in a country where there are strong and sustainable supply and demand fundamentals and supported by a resilient macroeconomic environment and outlook. Spain remains one the most attractive and safest residential markets worldwide, with one of the lowest ratios of new supply per capita globally since more information: NEINOR HOMESInvestor Relations H/ADVISORS MAITLANDNeinorHomes@ David Sturken +44 7990 595 913 Billy Moran +44 7554 912 008
