WTP Malaysia opens for business

WT Partnership is pleased to announce the latest WTP office location for Malaysia. This formalises our long standing relationship with our local Malaysian QS partners and we look forward to extending our relationships with our valued clients and colleagues.

WT Partnership Malaysia is led by our Directors Mr Lee Ko To, Hoh Ngai Seng and Edmund.

Contact details:

www.wtpartnership.com/contact-us/malaysia/

Acmar Hotel, Klang                             KL South Condominium, KL

Acmar Hotel, Klang        KL South Condominium, Kuala Lumpur

The Grand Sofo, Kelana Jaya        High End Condominium, KL

Commercial / Hotel Suites, Kelana Jaya                  High End Condominium at Ampang, Kuala Lumpur

UC Merced & Plenary move forward with game-changer Social Infra Deal

AcademicWalk

June 15, 2016: New York, NY

WT Partnership (“WTP”) is extremely proud to congratulate the University of California, Merced on selecting Plenary Properties Merced to deliver the 2020 Project Expansion.

In a press release issued today coincident with industry announcement at the InfraAmericas USP3 Conference in New York, Daniel Feitelberg, Vice Chancellor – Budget & Planning confirmed that Plenary Properties Merced (“PPM”) have achieved selection for the significant expansion of the UC Merced campus to be delivered over the next five years to 2020.

Full UC Merced Release: Access Here

WTP was appointed in March 2016 to provide Owner’s Representative and Construction Management services through initial bid receipt and review to completion and operational commencement.

Adam Shaw, Senior Vice President of WT Partnership stated

“UC Merced has shown incredible leadership in navigating the often troubled path to getting a social deal done in the United States.  

It is apparent from the outcome of the procurement that the University will achieve their project objectives, in a well considered commercial structure and with the back up of a very experienced advisor team.

We are confident this is a watershed moment for social infrastructure in the US.”

 

About WT Partnership

WT Partnership (“WTP”) is an award winning international practice of property, project and cost management consultants in building construction, infrastructure and management of facilities.

WTP has successfully supported clients through each phase of the major project development lifecycle. From developing the commercial foundations of a robust and bankable bid, through management of construction, operational commencement and even asset disposal, their highly experienced team comprehensively guide clients to their best commercial outcome.

They provide consultancy services on a wide range of commissions for public and private sector clients worldwide, drawing on the resources of over 1,300 staff operating from offices throughout the United Kingdom, Europe, Asia, India, North America, Australia and the Pacific. The company’s website is http://www.wtpnorthamerica.com/

Media Contact:

news@wtpnorthamerica.com

Macau – Wynn Palace Opens Its Doors

WT Partnership is proud to be the Quantity Surveyor for Wynn Palace, which opens to the public on 22 August 2016.

Situated in Cotai, Wynn Palace is Wynn Resorts’ second integrated luxury resort in Macau, joining the five-star Wynn Macau launched in 2006 in the city center.

The US$4.2 billion Wynn Palace features a 28-storey luxury hotel harmonizing the architectural grandeur of a palace with 1700 well-appointed rooms and suites; a mixed-use podium comprising a wide range of amenities, including convention facilities and gaming spaces, luxury retail area and gourmet restaurants, as well as numerous specialist attractions including a 30,000 square metre performance lake which features a light show.

The resort site covers a construction floor area in excess of 600,000 square metres.

WT Partnership has been providing full quantity surveying services for Wynn Palace since 2011.

In addition WT Partnership has been Quantity Surveyor for all of Wynn Resorts new projects in Macau since 2003.

WTP Hong Kong celebrating 40 years of establishment

WTP Hong Kong is celebrating 40 years of establishment in Hong Kong this year. We will be sharing pictures of our notable projects in the past 40 years via Twitter and LinkedIn pages.

WTPHK Twitter

https://twitter.com/@WTP_HK_PRC

WTP Asia LinkedIn company page

https://www.linkedin.com/company/wt-partnership-asia-?trk=company_logo

Stay tuned.

 

WT Partnership Review of UK Construction Market Conditions 2Q 2016

Tender price inflation continues to slow in 2016 after two years of steep increases which have left inflation 18% higher than in 2013. We are currently predicting that tender price inflation during 2016 will rise by 4.5% in Central London and by 4.2% in the remainder of the UK as a whole.

The ‘hot spots of activity’ outside of London include Cambridge, Manchester and Bristol. Construction activity in Croydon is also at a high level with a stream of office, retail and residential developments under way with works on the new Westfield/Hammerson shopping centre expected to commence in 2017.

Despite moderating national construction industry output, capacity remains an issue as supply continues to outstrip demand, although there are increased signs that some Contractors have gaps to fill in their order book. The market favours the ‘supply’ side and Contractors continue to be able to be selective in their approach to tendering which is directly linked to the tender price inflation run of the last two to three years.

There is a real concern in large parts of the property industry that a vote in favour of leaving the European Union on 23rd June 2016 could potentially cause investment money, particularly overseas investment, to dry up in the UK with a knock on effect in reducing construction output. Land Securities chief executive Robert Noel has said that “business uncertainty” during the negotiations on an exit treaty could “drive down occupational demand” potentially leading to “falling rental values and a reduction in construction commitments, particularly in London”.

New survey data produced by the RICS shows that international demand for UK office, industrial and retail property has fallen since the referendum was confirmed last summer, suggesting that international businesses are already postponing investment in the UK.

Other potential outcomes of a ‘Brexit’ are higher labour costs due to the industry’s heavy reliance on migrant labour, higher material costs due to anticipated increased import costs and also increased house price volatility.

However, this potential exit from the EU is still a moderate risk rather than reality and is not reflected in our current tender price inflation forecasts as the UK has so far been little affected by external markets and events.

Confirmed commitments announced in the March 2016 budget for major infrastructure projects (High Speed 3, Crossrail 2, school academies, flood defence works, etc.) should continue to strengthen the demand from the infrastructure construction sector. The Chancellor, George Osborne, also laid out £4bn of spending cuts and extended the extra stamp duty rate to the large ‘buy-to-let’ investors.

A copy of the full report can be found by clicking here.