Record heat waves in Britain disrupt the nation’s infrastructure, the Bipartisan Infrastructure Law promotes the use of construction technology with two key efforts, China’s property sector continues to stagnate, and more. Continue Reading ›
Formula One’s (F1) popularity has surged in recent years. On track, the 2021 season has been the most exciting in recent memory given Red Bull’s successful campaign against the reigning seven-time champions Mercedes. Off track, Netflix has popularized the sport by releasing four seasons of Drive to Survive, an episodic documentary that dives deep into how Formula One teams operate. Looking forward, the 2022 season won’t likely disappoint. New car and engine designs were introduced and races like the Singapore Grand Prix are back on the calendar. As the sport grows, more cities may consider hosting races to boost their global profiles. Here, we breakdown how real estate-related issues may affect such a decision.
In a long-awaited decision which overturned the Court of Appeal’s ruling in the Triple Point Technology vs PTT Public Company case, the UK Supreme Court confirmed the general law of LDs, which is that—absent clear words to the contrary—they accrue up to the date of termination of a contract regardless of whether the contractor completes the work; after that, general damages are recoverable. This approach was held to reflect “commercial reality and the accepted function of liquidated damages.” Although the contract in question was not a construction contract, the decision is equally relevant in the construction sphere.
Construction contractors adjust to extreme changes in material prices, China expands real estate lending support to its larger cities, semiconductor demand becomes a gem for industrial real estate, and more.
Habitat for Humanity builds the nation’s first 3D-printed house, the White House announces infrastructure spending plans for 2022, commercial real estate firms are left to determine their vaccination mandates, and more.
Enactment of the massive infrastructure package creates funding opportunities as federal agencies prepare to award funds across a large swath of U.S. sectors and industries, including energy, broadband, water, transportation, electric vehicles and cybersecurity. On November 5, 2021, the U.S. House of Representatives passed the Infrastructure Investment and Jobs Act, a major infrastructure spending bill, which President Biden is expected to sign into law. The package includes $1.2 trillion for roads, bridges, electric vehicles, broadband, cybersecurity, water resilience and drinking water upgrades, and grid resilience, and other infrastructure priorities. Colleagues Nancy A. Fischer, Aimee P. Ghosh, Benjamin J. Cote, Elizabeth Vella Moeller, Craig J. Saperstein, Moushami P. Joshi, and More detailed analyses on specific items in the bill will be available in the coming days and weeks at Pillsbury’s American Infrastructure Investment Resource Center (pillsburylaw.com).
The House of Representatives passes the Senate version of the Infrastructure Investment and Jobs Act (IIJA), the construction industry continues to struggle with labor shortages, effects of climate change put the built environment at risk, and more.
David Beck made a big career move last year—just how big, he soon learned. In January 2020, Beck became division president for risk management at Clark Construction Group, a major national builder based in Bethesda, Md., with more than 4,000 employees across the U.S. In business since 1906, Clark has grown from a small, local excavator into one of the country’s best-known providers of construction services.
Commercial real-estate sales surge in the third quarter, blockchain-integrated real estate is poised to span into new sectors, a major home builder is teaming with a Texas startup to create a community of 100 3-D printed homes, and more.
Real estate tokenization and smart home technology continue to grow, negotiations surrounding the bipartisan infrastructure bill stall its passing, artificial intelligence is poised to transform the construction industry, and more.