Tag Archives: control

Cushman & Wakefield: The Impact of COVID-19 on Swiss Real Estate | Instant News


The COVID-19 case count was out of control so the Federal Government decided to take further action. The number of customers per square meter in shops has been reduced, there is a two-household rule for private meetings and restaurant visits, and now there are various restrictions for ski resorts. In addition, the Federal Government continues to advocate working from home.

Housing

Net yields for Swiss residential properties have remained stable during the COVID-19 pandemic. Vacancy rates in major cities such as Zurich and Geneva remain very low with stable average rental prices of CHF / sq m 330 in Zurich and CHF / sq m 370 in Geneva. Interest rates are expected to remain low until at least the end of 2021, which makes residential properties in sought after locations still a profitable investment for pension funds, other institutional investors, and wealthy private investors.

Office

The office markets in Zurich, Geneva and Basel remained stable during 2020. Prices fell slightly in the middle of 2020 but jumped again towards the end of the year. The vacancy rate in Geneva remained the same (5%), office space in Basel increased slightly from 1.8% to 2.2% and in Zurich the vacancy rate fell from 1.4% to 1.1%. The median rent per square meter is CHF 360 in Zurich, CHF 240 in Basel and CHF 470 in Geneva. In suburban locations and locations with weaker infrastructure, the impact of COVID-19 is visible. Economic prospects as well as the increasing demand for a modern work environment make this location less desirable. Potential tenants at peripheral locations are very price sensitive, which causes prices to drop.

Retail

The rental price for retail space on the Zurich highways increased to CHF / m2 440 from CHF / m2 400 at the start of the year. Retail properties in the cities of Basel, Lausanne, Berne and Geneva also saw a slight increase in rental prices. Non-food retail spaces that are located within walking distance of the highway and on the outskirts are experiencing a decrease in demand resulting in lower prices.

In short, the demand for real estate with stable cash flow in a good location remains high among Swiss investors. Net yields for residential, CBD offices and highway retail properties were almost unchanged. The results for offices and retail in secondary locations have increased markedly.

October 29

The number of new COVID-19 cases has increased almost exponentially over the past few weeks, and to date, the federal government in Switzerland has decided on some additional measures that will have a drastic impact on everyday life.

Meetings in public spaces and private events are now limited to 15 and 10 people, respectively, and masks have to be worn almost everywhere.

Sports and cultural activities are limited to some extent which makes them largely impossible. Nightclubs must be closed and there is a curfew from 23.00 to 6.00, universities should switch to distance learning, and working from home is strongly recommended.

The appetite for real estate investing remainshigher, also driven by Swiss pension funds and insurance companies whose cash surpluses increased during the first lockdown.

We’ve seen a lot of traction on transactions related to property types including:

  • residence;

  • mixed use; and

  • commercial / industrial including development.

Investors still look at the core office, but currently there are only smaller properties on the market. We expect most of the ongoing deals to close before the end of the year – now that being used to the pandemic situation most investors have experience on how to deal with it.

The demand for office space from occupants fluctuates, with some companies still securing large spaces for the foreseeable future, while others are now focusing on more flexibility.

August 19

The pandemic COVID-19 outbreak caused the most serious decline in economic activity in Switzerland in more than four decades. Although there are signs of easing in the business situation, there is still a measurable drop in demand.

Swiss economic development will continue to depend on the pandemic. In the updated scenario, the leading Swiss Institute of Economics predicts that output will shrink by 4.9% this year, based on the assumption that the possible increase in new infections in the winter months can be contained.

However, the Swiss economy weathered the crisis relatively well compared to other European countries, with the GDP growth rate for 2021 estimated at 4.1%. Residential real estate and certain core products are crystallizing as safe havens for investors, and the importance of new asset classes such as Data Center be elevated.

August 5

Switzerland has had very few new COVID-19 cases since mid-May, so by June most of the restrictions had been lifted. As the number of cases increased slightly in July, it is mandatory to wear masks on public transport and self-quarantine for ten days after entering Switzerland from high-risk areas. Business continues as usual.

The corporate invaders are bringing people back to their offices (with and without social distancing) and there is debate as to whether they will try to reduce their existing footprint. While we have several examples of companies placing excess space in the market, this appears to be related to the difficult economic situation and decreased business turnover compared to implementing alternative workplace strategies.

Office and retail activities are on the rise again as tenants with expired leases are looking for attractive opportunities. Even with slightly less than usual demand, due to low supply, the main German-speaking Swiss centers show a paradoxical increase in market rents in certain sub-markets (eg Zurich CBD). However, the disparity in office vacancy rates and market rental rates is expected to widen between city and suburban locations.

The funding situation of Swiss institutional investors has not changed, and they are still looking to invest in both core and core + real estate with a home bias. The big deal that started before COVID is now continuing, with the sale of the 53,000 square meter Glatt Center in Zurich and other significant deals having been announced recently.

23 April

Last Thursday, the Federal Council announced plans for a ‘way back’ to a ‘new normal’:

  • April 27: some shops can be reopened, such as: hairdresser, DIY / garden center, flower shop

  • May 11: all retail stores can be reopened, schools too

  • June 8: the university will reopen, as well as a museum and zoo

The borders are still more or less closed, people are still told to stay at home and work from home. There is no set date for reopening the restaurant, bar, coffee shop and sports facilities. This says about 75% of Swiss companies are still working normally.

The commercial real estate market began to react to the economic slowdown. Landlords with restaurants and shops in their portfolios face a lot of pressure to reduce rents or even waive rents. We see that the retail real estate sector and the hospitality and leisure industry are temporarily near ‘dead’. In the office market, we see transactions go further as if nothing has changed and others are delayed or even stopped. In the investment market we see that the transaction process has not started, some are postponed, some transactions are still closed.

April 16th

Since last week, lock entry Switzerland has extended to 26 April. Schools, universities, shops (grocery store, gas station still open) and restaurants remain closed.

April 9th

In Switzerland, the lockdown was announced on March 13. Schools, universities, shops (grocery store, gas station remain open) and restaurants are closed at least until April 19. People were told to stay at home. Offices, construction sites and factories are still functioning – although everyone is asked to work from home whenever possible.


The authorities have developed several packages to try to help those affected by the actions being taken by the Federal Council (Bundesrat). As:

  • Loan

  • short working time for all sectors

The commercial real estate market began to react to the economic slowdown. Landlords with restaurants and shops in their portfolios face pressure to reduce rents or even waive rents – at least until the end of the closure.

Although some landlords are already facing difficulties obtaining leases for commercial space, the real estate industry has not reacted so far.

There is no clear vision for the future, but the retail sector appears to be ‘dead’ for now, especially as all shops are closed now.

There is also uncertainty in the office market. Some transactions are running as normal while others have been postponed or even stopped completely.

In the investment market we see transaction processing not starting, some being delayed, some being closed. The pricing still looks quite high and unchanged.

Denial

Cushman & Wakefield plc publish this content on January 14, 2021 and take full responsibility for the information contained therein. Distributed by the Public, unedited and unaltered, at 14 January 2021 20:37:02 UTC

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Waikeria uprising: Prisoners are still rioting at the Waikato prison | Instant News


Outside the Waikeria Prison today where inmates clash with guards. Photo / Michael Craig

Prisoners who have been strained with guards at Waikeria Prison are now believed to have full control of the wing.

The Herald understands all obedient inmates have been removed from the wing where 16 inmates have lit fires and hurled projectiles at guards who couldn’t get close enough to end the hostage taking.

The prison remains in isolation today, nearly 24 hours after a group of inmates mutinied and started lighting a fire yesterday afternoon.

It is understood that most of the wings were badly damaged by fire.

This morning’s correction said that four of the 19 inmates had surrounded overnight, but the prison was badly damaged and could not possibly be used to house any more inmates.

Drama started yesterday in the prison practice yard around 2pm, and then moved to the rooftop, where the inmates burned the mattress.

A source told the Herald that the rebellion started after the inmates were denied a haircut, but Correction was unable to confirm this until they spoke to “affected prisoners”.

Further information is expected to be released about the situation at a press conference this afternoon.

Correction said 16 detainees remained within safe limits on the roof of one building, the so-called “upper prison unit”.

One source told the Herald that the prisoners had thrown projectiles at prison guards – wood, metal and anything else they could tear from the damaged roof.

As a result, the police were too dangerous to get too close to the prisoners. So far no one has been hurt.

The source said there was a slight risk of the detainees running away because there were two guardrails – electric and wire – and those fences were being patrolled by correctional staff.

The weather was hot and sunny, so the source said it was hoped the prisoners would become “hot and hungry” and turn themselves in.

Correction said there were no fatalities or injuries to staff or detainees. NZ Fire and Emergency, Police and St John remain in prison and work closely with Corrections staff.

A Corrections spokesman said the damaged part of the building was still burning hours after the fire started. It was not safe to try to extinguish the flames while the rioting continued, he said.

“At this stage the fire has not been put out. Obviously we need to wait for the disobedient prisoners to be brought under control before we can send fire and emergency to fully assess the situation and control it,” he said. .

“We are not sure how widespread the fire is at this stage, but several parts were burned, including the mattress that was burned,” he said.

A faint stream of smoke could still be seen floating from one end of the prison facility.

While the condition of the building needs to be assessed, it is unlikely that detainees will be accommodated there again, Correction said in a statement. The facility was built in 1911 and replaced by a new prison scheduled to open there in 2022.

View of the Waikeria Prison where the inmates are on the roof mattress that had been burning since last night.  Photo / Provided
View of the Waikeria Prison where the inmates are on the roof mattress that had been burning since last night. Photo / Provided

Correction described the prisoners behind the rebellion as “disobedient”.

Minister of Corrections Kelvin Davis declined to comment while the situation in prison remains unresolved.

Last night, 49 inmates were evacuated from the riot sector facility to another unit in the prison. Overnight 163 people were temporarily transferred to other locations within the prison, the spokesman said.

The flow of prisoner vans with tinted windows continued their exit from the facility this afternoon.

The Specialist Advanced Control and Control Team, made up of staff from various prisons, is in the prison, where the inmates have been out of control since Tuesday afternoon.

Photos emailed to NZME late at night showed huge smoke clouds visible from neighboring farmland.

Police, firefighters and St John confirmed that they were still at the scene as Correctional Officers continued to try to negotiate with the inmates and ensure the safety of everyone in the prison.

A spokesman said yesterday that 19 prisoners were seen on the roof of the building. This includes those who were involved in lighting fires in the courtyard today, along with several other people who were able to get out of their cells.

“Prisoners can access some parts of the building by penetrating the roof space, but their movement inside the building is restricted by internal gates, barriers and secure doors.

“There was a lot of smoke around the building, coming from the mattress the prisoners burned.”

“There are about 230 prisoners in total in the ‘top prison’ facility and we will not hesitate to evacuate further detainees if necessary to keep them safe.”

FENZ was initially summoned to Waikeria after inmates lit several fires in the prison’s practice yard on Tuesday afternoon.

About 20 prisoners were using the courtyard at the time.

The situation was thought to be under control before the nine detainees refused to comply with the instructions, Newshub reported.

The perpetrators allegedly removed the toilet door from their hinges and used it as a weapon against staff.

Correctional Association President Alan Whitley said the union is offering support.

“We are always concerned about people when situations like this occur, but we have a special team that has special training, they are professional people and they will do a professional job to control the situation,” Whitley told RNZ.

St John treated a number of staff and inmates for smoke inhalation. Earlier in the evening, it was thought that at least one inmate was bleeding after an argument with guards.

One detained inmate said riots in the prison were imminent, with inmates protesting for human rights. They claim there are problems in the prison, including toilet paper that is taking days, Newshub reports.

Last year, two Waikeria Prison Correction officers were punched in the face within days, while clashes between prisoners have also been reported.

An inmate punched an officer in the face and another officer was also injured when he stepped in to help.

The fight occurred after an officer was threatened and punched a few days earlier.

There have also been previous reports of inmates fighting amongst themselves.

The Waikeria Prison is one of New Zealand’s largest prisons, located on a 1,200ha site south of Te Awamutu in the Waikato region.

The “top prison” where inmates currently reside were built in 1911 and are the oldest part of the prison. It was replaced by a new facility under construction at the prison and which is slated to open in 2022.

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Prison drama: Police are still in Waikeria Prison where 19 inmates burn mattresses on the roof | Instant News


View of the Waikeria Prison where the inmates are on the roof mattress that had been burning since last night. Photo / Provided

Emergency services remain at the Waikeria Prison this morning after arriving yesterday to negotiate with inmates out of control on the burning mattress on the roof.

The Specialist Advanced Control and Control Team, made up of staff from various prisons, has been in the prison where inmates rioted since Tuesday afternoon.

It is understood that the situation is ongoing this morning, but Correction has not provided an update. Photos emailed to NZME late at night showed huge smoke clouds visible from neighboring farmland.

Police, firefighters and St. John were at the scene yesterday as Correction officers continued to try to negotiate with the inmates and ensure the safety of everyone in the prison.

A spokesman said 19 detainees had been seen on the roof of the building. This includes those who were involved in lighting the fire on the previous page today, along with several other people who were able to get out of their cells with assistance.

“Prisoners can access some parts of the building by penetrating the roof space, but their movement inside the building is restricted by internal gates, barriers and secure doors.

“There was a large amount of smoke around the building coming from the mattresses burned by the prisoners.”

Although there is no threat to public safety, Corrections staff have transferred 49 inmates from one unit to another in the prison while the incident continues.

“There are about 230 prisoners in total in the ‘top prison’ facility and we will not hesitate to evacuate further detainees if necessary to keep them safe.”

FENZ was initially summoned to Waikeria after inmates lit several fires in the prison’s practice yard on Tuesday afternoon.

About 20 prisoners were using the courtyard at the time.

The situation was thought to be under control before the nine detainees refused to comply with the instructions, Newshub reported.

The perpetrators allegedly removed the toilet door from their hinges and used it as a weapon against staff.

Correctional Association President Alan Whitley said the union is offering support.

“We are always concerned about people when situations like this occur, but we have a special team that has special training, they are professional people and they will do a professional job to control the situation,” Whitley told RNZ.

St John’s staff treated a number of staff and inmates for smoke inhalation. Earlier in the evening, it was thought that at least one inmate was bleeding after an argument with guards.

One detained inmate said riots in the prison were imminent, with inmates protesting for human rights. They claim there are problems in the prison, including toilet paper that is taking days, Newshub reports.

Last year, two Waikeria Prison Correction officers were punched in the face within days, while clashes between prisoners have also been reported.

An inmate punched an officer in the face and another officer was also injured when he stepped in to help.

The fight occurred after an officer was threatened and punched a few days earlier.

There have also been previous reports of inmates fighting amongst themselves.

The Waikeria Prison is one of New Zealand’s largest prisons, located on a 1,200ha site south of Te Awamutu in the Waikato region.

The ‘top prison’ where convicts currently reside were built in 1911 and are the oldest part of the prison. It was replaced by a new facility under construction at the prison and which is slated to open in 2022.

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‘Karachi control is never given to its public representatives’ | Instant News


Karachi control was never granted to its elected representatives, therefore the city’s problems have escalated over a period of time.

Lawyer Murtaza Wahab, adviser to the chief minister of law and environment for Sindh, said this on Monday when he spoke with media people during the inauguration ceremony of three reconstructed roads in the Old Haji Camp area in the city’s Southern District.

Barrister Wahab, who is also a spokesman for the Sindh government, said the Sindh government of the Pakistan People’s Party (PPP) had been doing development work.

in Karachi without any discrimination.

He said the project to revive the Karachi Circular Railway (KCR) had been included in the China Pakistan Economic Corridor (CPEC) project on the recommendation of the Sindh PPP government. No one else should take credit for bringing KCR back to life, he added.

According to Wahab, the federal government has not provided the sovereign guarantees needed to revive the KCR against its commitments. He said the Sindh and other provincial governments should get their share of the federal pool which could be divided if the Federal Revenue Council had undertaken a record tax recovery.

He said PPP always believed in real public services, not just issuing statements. He stated that the Sindh PPP government had spent from the provincial treasury on community welfare projects. On the other hand, Pakistan’s federal government Tehreek-e-Insaf is only spreading lies, he added.

He said PTI had won votes from Karachi in the last general election, but in exchange, the ruling party at the Center did not spend public funds on Karachi’s development. He said the reconstructed road in the Southern District would facilitate the travel of residents and visitors to the old city area, especially those who came to the Civil Hospital, Karachi. The Deputy Commissioner for South District and local PPP leaders were also present at the occasion.

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Street criminals run out of control in Karachi – Crime | Instant News


Published in November 21, 2020 09:04

Street criminals run out of control in Karachi

KARACHI (Dunya News) – The increasing number of street crimes has put citizens at the mercy of criminals in Karachi. On Jalan Tariq, a resident lost valuables to street criminals in broad daylight. In Gulshan-e-Jamal, women looted 15 gold tola from their homes and fled.

A resident was robbed on the main highway, Jalan Tariq in broad daylight. CCTV footage of the incident was also revealed. On Friday, four defendants on two motorbikes seized a cell phone from residents at gunpoint and fled.

On the other hand, in the morning, at Defense Stage 5, the four defendants looted gold, diamonds and Rs500,000 cash from the bungalow and fled. The defendant also took away his family’s cell phone.

In Gulshan-e-Jamal, two women ransacked homes including lockers. According to affected families, on the third day guarding the house maids, they looted 15 gold tola and fled. The case has been registered.

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