| “ADVANCED
TECHNOLOGY MADE IN ITALY” Altamura
- The first factory to preassemble building units is now under completion | Rotating
Tower Industry Italy Srl, a Milan based company, part of the Dynamic Group is
about to complete the works of the assembly facilities for the first factory in
the world to assemble complete segments of skyscrapers. The factory is situated
in Altamura, Bari, in the South of Italy. The Chairman of the company, Mr. Graziantonio
Pallotta, the young and dynamic owner of Ge.Di. Group and partner in Dynamic Group
of companies, and his staff
are setting up the facilities that will employ, in full production, over 700 workers.
 |
Architect
David Fisher, creator of the rotating towers |
The
factory intends to export Rotating Towers for future projects, yet another masterpiece
of design and technology “Made in Italy”. Ge. Di. stands for “Gestione Dinamica”
which in Italian means “Dynamic Management”. It
is probably not a coincidence that Mr Pallotta picked up this name, years before
he met David Fisher and decided to invest and take part in the Dynamic Group,
the promoter of the Rotating Skyscraper and in the development of the new “Fisher
Method” of the visionary Florentine architect. |
| THE
SWISS GROUP IMPLENIA TO BUILD THE TALLEST BUIDING IN TURIN DESIGNED BY ITALIEN
ARCHITECT RENZO PIANO
Implenia recently signed a contract to build the tallest building in Italy, for
Banca Intesa San Paolo. The bank commissioned the renowned Italian architect Renzo
Piano to design this tallest tower for its new headquarters in Turin. Renzo
Piano was awarded in 2008 by the prestigious American Institute of Architects
AIA. Implenia,
born of the merger of the two Swiss firms Batigroup and Zschokke, is currently
the largest constructor in Switerland  |
The
famous Centre Pompidou in
Paris created by Renzo Piano |
This
new building largely glassed, with a total height of 166 meters, will comprise
43 storeys and will therefore constitute a landmark visible from afar in the sky
of the north Italian city. Implenia has managed to win the contract as part of
a consortium with the Italian group of Rizzani Eccher. Construction will start
in the coming weeks and will be completed in 2013. The cost will amount to more
than 200 million euros, of which approximately 30% will go to Implenia. The Intesa
Sanpaolo banking group, which was formed by the merger between Banca Intesa and
Sanpaolo IMI, has clear leadership in the Italian market and a strong international
presence. 
MEDICAL
INVESTMENT DEVELOPMENT IN SYRIA In
february 2010, H.E. Dr Rida Saeed, the Minister of Health of the Syrian Arab Republic,
countersigned the approved report of the joint Government /WHO, World Health Organization,
programme review and planning mission for the biennium 2010–2011, as well as the
detailed programme budget and the workplans for all national programmes.  |
H.E.
Dr Rida Saeed signing the approved report |
The
report and detailed workplans have been reviewed by the WHO Regional Office and
were approved by Dr Hussein A. Gezairy, WHO Regional Director for the Eastern
Mediterranean, on the 3 February 2010. SQH’s
Medical City project by Syrian-Qatari Holding The
Chairman
of Syrian-Qatari Holding (SQH), Mr. Nasser Hassan Al-Ansari, recentl signed the
definitive Shareholder Agreement for the co-development of Syria’s first world-class
Medical City with a group of highly skilled US-based Syrian physicians acting
within the framework of the Syrian-American Medical Center (SAMC), and represented
by Dr. Ammar Hemaidan (General Manager of SAMC), and Dr. Akram Kholoki, Vice Chairman
of the Board of Directors. The
Medical City integrates a 200-bed hospital and several specialty medical centers
as well as medical offices. SQH
will be developing and managing the project through its fully owned subsidiary,
Syrian-Qatari Healthcare. The total project cost is estimated to be around US$
150 million, and the development of the entire complex is estimated to require
3.5 years. Souria
Holding which develop two towers designed by the french firm Architecture Studio
will build an international standard hospital. Souria
Holding will fund the building of a modern, specialised and well equipped Hospital
for the treatment of cancer. The Hospital will greatly boost the country’s capacity
to provide quality treatment to the large number of Syrians who are diagnosed
with cancer each year. The Hospital will also provide valuable career opportunities
in the area of healthcare. 
DM
HEALTHCARE A LEADING MEDICAL OPERATOR IN THE UAE AND INDIA, CREATE ASTER MEDICAL
CENTRE IN DUBAI
DM Healthcare, a US$ 300 million group and one of the largest healthcare service
providers in the region, recently introduced their new Corporate brand identity
“ASTER” . The
new brand identity was revealed by the Chief Guest H.H. Sheikh Mansoor Bin Mohammed
Bin Rashid Al Maktoum, along with officials of DM Healthcare and media. The new
brand identity aims at consolidating and spearheading the four key verticals of
DM Healthcare as one cohesive Brand. Aster will be integrating the hospitals,
clinics, diagnostic centres, and pharmacies
of the Group, spread over 90 locations in 5 countries. Last
July, in Dubai, the group inaugurated the ASTER Medical Centre and ASTER Pharmacy
of DM Healthcare at Al Qusais in the presence of Dr. Azad Moopen, Chairman of
DM Healthcare, and high level official representatives. Meeting
the highest standards, this Centre is designed to provide to the residents of
this neighborhood with multispeciality services which contribute in providing
comprehensive healthcare to the communities we serve. DM
Healthcare, have over the years become as one of the leading institutions that
blends the best of technology and talent in its endeavor in providing uncompromising
medical attention to the public. The centre occupies an area of more than 5,000
sq ft with lavish interiors and spacious setting including the facilities of latest
generation . |

THE
FRENCH BANK TO COME OUT WINNING STRESS TESTS The
bank BNP Paribas, Societe Generale, Credit Agricole and BPCE have passed the examination
of strength decided by the European authorities and conducted by the Committee
of European Banking Supervisors CEBS with respect to the banking community. This
test therefore dismissed any need to recapitalize these banks. 
AXA
REAL ESTATE INVESTMENT MANAGERS ANNOUNCES THE FIRST CLOSE OF ITS PAN-EUROPEAN
FUND, DEVELOPMENT VENTURE
III  | | The
new Axa Building, to be completed in 2010, named Tour First CB31 in Paris la Défense,
the most important European Business District, |
AXA Real Estate Investment Managers (“AXA Real Estate”), the leading real estate
manager in Europe and second globally* with €38.2 billion of assets under management,
announces the first close of its pan-European development fund, Development Venture
III (the “Fund”). At
first closing, €230m had been raised from four European investors, together with
co-investment from insurance companies of the AXA Group. There remains a strong
interest from other investors resulting in a slightly higher amount for a second
closing, which has been earmarked for September. Overall the fund equity raising
will be capped at €600m with a target IRR of 25% gross. The
Fund is an opportunistic vehicle which will invest in green and brown field sites,
existing properties which require extensive redevelopment and development joint
ventures. Targeting
mainly offices, but also retail, logistics, hotels and mixed used real estate,
it will have a significant focus on Paris and will also make use of the specialist
local development expertise of its teams in London, Milan, Madrid and in major
German cities. Individual development projects are expected to have a minimum
end value in excess of €300m. Development
Venture III is the third development fund launched by AXA Real Estate to date,
following on from the successful performances of the previous two development
funds, launched in 2001 and 2004. These
funds combined, have completed in excess of €2.3bn of developments across Europe,
providing its investors with IRRs in excess of 40% pa on a project level. AXA
Real Estate has a dedicated pan-European development team of over 25 people located
across major European cities, responsible for managing all stages of the development
process, from sourcing and deal execution to engineers and architects. The
development team has completed in excess of 250 projects with a combined value
in excess of €7bn over the last 10 years, including 15 major corporate headquarters.
Dennis Lopez, AXA Real Estate’s Global Chief Investment Officer, commented: “Development
Venture III builds on the highly successful track record of our two previous development
funds, which have provided our investors with exceptional returns. With a well
established in-house team of professionals experienced in managing every stage
of development, we will seek to secure a broad range of opportunities, ensuring
we retain an appropriate risk profile for the Fund. “
Eric Stampfli, AXA Real Estate’s Development Funds Director added: “We believe
that the launch of this development fund at this stage in the market cycle will
enable us to deliver both speculative and pre-let assets into targeted markets
where we see restricted supply and strong tenant demand, offering the potential
for strong value creation for our investors. Source
Axa investment managers 
Swiss
Development Group, new investor on the luxe real estate in switzerland Founded
in 2007 by Ilyas Khrapunov, an investor from Kazakhstan, Swiss Development Group,
is a young company who want specificaly invest in the luxurious leisure market
in Switzerland. The
company has purchased the Hôtel du Parc, Le Mont-Pèlerin, situated in the UNESCO
protected vineyards of the Lavau. , The hotel is being converted, after refurbishment,
into 24 luxurious apartments complete with service units, spa, indoor & outdoor
swimming pools, a full range of leisure activities and equipment with 5-star hotel
services. The company also planned to develop a luxurious beach resort in Geneva | | 
THE
UNITED KINGDOM AND FRANCE WANT TO BOOST ISLAMIC FINANCE
In order to further promote the
City of London as a centre for global Islamic finance and level the playing field
between conventional and Islamic products (referred to by the legislation as alternative
financing instruments), today the UK Government announced in the UK Budget 2009
statement the following three further measures on alternative finance as part
of the ongoing drive to promote the UK as a centre for Islamic finance. Of
27 billion institutional investment real estate in France, only 4% would come
from Islamic finance Last
year an amendment to article 2011 of the French Civil Code was passed on 17 September
2009 by the French National Assembly (Assemblée Nationale) to help promote the
development of Islamic finance in France. This amendment is intended to assist
in the structuring of Shariah-compliant products in France using French trusts
(fiducies). Whether this move in the right direction is enough to boost the sukuk
market in France remains to be seen but no doubt gives new perspectives to Islamic
investors. 
EU
stress test for banks has limited relevance for HRE Hypo REal Estate The
HRE Group (HRE) has carried out the European stress test using the scenarios,
methods and assumptions prescribed by the Committee of European Banking Supervisors
(CEBS). The outcomes of the stress testing exercise have shown that the HRE Group
exceeds the 6% tier 1 ratio required by CEBS for all scenarios, except for two
cases which test particularly negative conditions for 2011. HRE
maintains the regulatory minimum tier 1 ratio of 4% in all stress scenarios tested.
It should be noted that the stress testing outcomes for 2011 have limited relevance
for the Group. For
instance, the test has not taken into consideration the transfer of assets worth
up to € 210 billion to FMS Wertmanagement – the deconsolidated environment to
which assets will be transferred from the HRE – which is scheduled for the second
half of 2010. This transfer will substantially reduce risk-weighted assets. Furthermore,
given that the financial markets crisis has not been fully resolved, the HRE Group
applied to SoFFin for a recapitalisation in an aggregate amount of € 10 billion,
of which € 7.87 billion has been approved to date. Given full recapitalisation,
HRE would exceed the 6% tier 1 ratio for all scenarios used in the current stress
test. Source
Hypo Real Estate 
The
French State is going to sell 1 700 real estates in three years to raise the public
finances The
French State is going to sell 1 700 real estates in three years to raise the public
finances The Franch State decided to put on sale a part of its property, to raise
the public finances. All in all, 1 700 properties which will be given up to their
market value. The French State plan to complete the sale by the three next years.The
program includes, for example, the possessions prestigious as a castle in Haute-Savoie
or high level real estate of VII district of Paris. The recovery of the real estate
value in France seems to be an opportunity for this strategic decision

WestImmo
London provides bilateral financing in the UK and Continental Europe
WestImmo London provides
bilateral financing in the UK and Continental Europe. In addition to WestImmo’s
strategy of medium to large scale debt arrangement, the London Branch continues
to provide clients with tailored bilateral solutions across Europe. During
recent weeks, WestImmo has arranged and underwritten the following acquisition
loans. €31m to assist in the purchase by Resolution Properties of the Galeria
Pomorska shopping centre in Bydgoszcz (Poland), a modern retail scheme with over
100 shop units built in 2003. £32m supporting the acquisition by Rockspring Property
Investment of two shopping centres in Aberdeen and Blaydon (United Kingdom). The
Mall Shopping Centre (Aberdeen) comprises 190,000 sq ft of retail accommodation
with 24 retail units while the The Precinct (Blaydon) comprises of 47 retail units
(93,200 sq ft) and 4 small office suites (3,300 sq ft). £23m for the purchase
by a private overseas investor of 15/17 Long Acre, part retail (18,406 sqft) /
part office (24,121 sq ft) building in the Covent Garden area of London (United
Kingdom). Peter Denton, Head
of the London Branch said “It is as important for the bank to bilaterally support
our UK investor base across Europe as it is to take core roles in larger transactions.
Our activities over recent weeks underpin this.” 
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