GREENSBORO, N.C., Feb. 20, 2012 (GLOBE NEWSWIRE) -- Tanger Factory Outlet Centers, Inc. (NYSE:SKT - News), announced today that construction has begun on the new 328,000 square foot Tanger Outlet Center Westgate in Glendale, Arizona. Situated on 38-acres, the Tanger Outlet Center Westgate in Glendale, Arizona will be located on Loop 101 and Glendale Avenue in Western Phoenix. This site is adjacent to Westgate City Center, Jobing.com Arena, University of Phoenix Stadium, Cabela's and The Renaissance Glendale Hotel and Spa.

The 328,000 square foot first phase of this upscale Tanger Outlet Center is underway, offering the nation's best outlet shopping including some 85 brand name outlet stores at opening. The modern design will feature a pedestrian friendly layout that will function as an open-air mall with both covered and uncovered landscaped courtyards and a park-like setting throughout the complex. The Tanger Outlet Center will create 700-800 jobs during construction and 900 full and part-time retail jobs upon completion.

"We are pleased to begin construction in this dynamic Phoenix market," said Steven B. Tanger, President and Chief Executive Officer. "The area serves as an excellent opportunity for our outlet concept. Phoenix has such a healthy regional population coupled with one of the most vibrant visitor markets. We feel confident they will enjoy our leading brand names and designer outlet stores offering substantial savings. We are happy to find a home in Glendale and bring Tanger Outlets to Arizona this year."

"Tanger's new location in Glendale means new jobs, new brand name shopping opportunities for residents and tourists and an increase in tax revenue for the city, " said Ed Beasley, Glendale City Manager. "The hundreds of thousands of visitors who come to the Sports and Entertainment District in Glendale each year now have another destination attraction with the opening of the new Tanger Outlet Center."

Glendale, Arizona is one of the largest cities in Arizona with a history going back more than 100 years. The city has become known for its significant transformation in the past decade, growing from a bedroom community to a city featuring a world class Sports and Entertainment District. Glendale will host the 2015 Super Bowl after previously hosting the 2008 Super Bowl. Glendale is also home to the Fiesta Bowl, and BCS championship games. All of these amazing events have generated millions of dollars in revenue to benefit the entire state of Arizona.

An official Ground Breaking Ceremony is scheduled in the weeks to come. At this ceremony, Tanger Outlets will share the project timeline and some of the enticing brands and designer outlets that will be opening at this center.

ABOUT TANGER FACTORY OUTLET CENTERS, INC.

Tanger Factory Outlet Centers, Inc. (NYSE:SKT - News) is a publicly-traded REIT headquartered in Greensboro, North Carolina that operates and owns, or has an ownership interest in, a portfolio of 39 upscale outlet shopping centers in 25 states coast to coast and in Canada, totaling approximately 11.8 million square feet leased to over 2,500 stores operated by 450 different brand name companies. More than 175 million shoppers visit Tanger Factory Outlet Centers annually. For more information on Tanger Outlet Centers, call 1-800-4TANGER or visit the company's web site at http://www.tangeroutlet.com

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Construction Begins on the New Tanger Outlets

Diversifying revenue streams

Lokale Immobilia sits down with Zbigniew Wojciech Oko?ski, president of the management board of Warsaw Stock Exchange-listed developer ROBYG, to talk about the company's entry into the commercial segment of Poland's property market and its plans in the residential sector

Adam Zdrodowski: The launch of ROBYG Business Center in Warsaw’s Wilanów district marks your company’s first commercial investment in Poland. What’s the rationale behind the firm’s entry into the sector?

Zbigniew Wojciech Oko?ski: We bought the land in Wilanów a few years ago in the belief that this project would complement the main part of our business: the development of multifamily residential buildings.

We also came to the conclusion that the investment would fit the concept of the whole Miasteczko Wilanów estate. We’ve been involved in the development of that project since construction began.

Apart from housing schemes, the estate will also feature office and retail space. Several other developers are working on commercial projects in the area. This is how the most modern neighborhoods in the world are designed these days.

Your company is not the only residential developer in Poland that has entered the commercial property market of late. Will this trend continue?

We can assume it will. For any large, experienced developer that has accumulated a certain amount of capital and land, entering new sectors of the property market is a natural way of developing its business activity. It also gives a company diversified sources of revenue and thus greater security.

How would you respond to the claim that a company that has until now focused solely on building apartments does not have the know-how needed to develop office space?

In the case of our company, such a claim would be totally unfounded. One of our co-owners is active in the office market in Israel, so we will be able to use the ample experience that we have gained there in the Polish market.

What will be built in the next phases of ROBYG Business Center?

We are planning 28,000 sqm of office and retail space in the next, five-floor building in the complex. However, it is possible that this space will, in the end, be distributed across several smaller buildings. That will ultimately depend on the tenants which we will secure for the investment.

Don’t you face strong competition from the developers that have already been involved in office projects in Miasteczko Wilanów for some time now?

We rather see those seemingly competing projects as a magnet that will help promote the location in general and will attract tenants to the Miasteczko Wilanów estate, from which our investment will definitely benefit as well.

We see the area as a promising office location; some of the employees of the potential tenants that could lease space in the planned offices in Miasteczko Wilanów already live, or will soon live, in the neighborhood.

Are you already planning new commercial projects in other locations in Poland?

As for purely office projects in completely new locations, their potential launch will depend on how successful the Wilanów investment is. However, we are now planning commercial space within our ongoing and planned residential projects in Warsaw and the Tri-city area.
One of the buildings in the Osiedle Kameralne estate in the capital’s Bemowo district, for instance, will mostly feature retail space and offices with just its two top floors expected to house upmarket apartments.

Will you continue to concentrate most of your activities on the residential market in the upcoming years?

By all means. We have actually stepped up our residential activity in recent months. Last year we managed to sell more than 1,000 apartments, which makes us one of the three largest developers in the sector. Currently we are building a total of some 1,300 units in our Warsaw and Tri-city projects.

Are you planning to expand to other Polish cities as well?

No. In the current uncertain market conditions that would be too risky. You have to remember that starting development activity in a new market is a complex, time- and cost-consuming logistical process.

We will grow in the cities in which we are already present. In Warsaw, for one, we have recently bought land in the Bemowo district, where we will develop a new housing estate with approximately 70,000 sqm of usable space. The first phase of the project alone will deliver some 300 units.

We are also looking for plots in other parts of the city. For instance, we would like to secure land on the right bank of the Vistula River where we have not yet built a single project and where we would like to establish a presence.

From Lokale Immobilia

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Cabela’s is coming to Grandville.

Cabela’s Chief Executive Officer Tommy Millner has announced the store featuring hunting, fishing, outdoor gear, and more will open at the east end of the Rivertown Mall retail corridor on 44th Avenue in spring 2013. The 88,000-square-foot store will be a part of a retail center currently under development by CWD Real Estate Investment.

“Because of the many great customers we have in the Grandville/Grand Rapids area, we have been interested in building a store there for years,” Millner said. “Michiganders are dedicated outdoors people who live the Cabela’s lifestyle and so many of them are loyal customers through our catalogs, website and Dundee store, we wanted to reward them with a Cabela’s store of their own.”

Millner said the store will include a Boat Shop, Gun Library, Bargain Cave, and Fudge Shop and employ about 200 full- and part-time employees. Construction on the building will start this summer and will feature Cabela’s trademark style of an exterior log construction and stonework along with metal roofing and a glass storefront. The inside of the store will include conservation-themed wildlife displays, animal mounts, and a built-in aquarium.

Grandville City Manager Ken Krombeen said since the City Council already rezoned the 1.9-acre parcel on 44th Avenue for the 88,000-square-foot building back in December the project “is basically pre-approved.” He said the next step is for Cabela’s officials to apply for a building permit, which the city will review, before starting construction.

The store will be part of a 380,000-square-foot retail complex development planned on the former X-Rite property. Krombeen praised the development, saying the complex is taking shape just the way city leaders and developers had hoped since the project began in 2009. “They wanted something different than a typical retail development,” he said. “There was a lot of effort to give it a unique feel.”

The retail complex includes multiple buildings, green space, sidewalks, and bike trails. Target also plans to open a 135,000-square-foot store in the complex in October.

Krombeen said the economic impact from the new Cabela’s will benefit not only the city but area municipalities as well as the state through jobs, property taxes, and sales tax.

The Grandville store will be Cabela’s second in the state with one located in Dundee. Cabela’s officials previously began plans to bring a store to the city of Walker, including asking for an economic incentive package for about $15 million, but those talks stopped in 2010.

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Cabela's announces plans to open in retail complex on 44th Avenue in Grandville

Rovio Entertainment's "Angry Birds" have conquered mines, construction sites, Rio, and all four seasons, which is why the colorful birds will leave this planet and take their slings and fury to space. On Friday, Rovio announced its newest addition to the Angry Birds franchise, "Angry Birds Space," which will launch on March 22.

"It's going to be the biggest game launch since the original Angry Birds!" Rovio said in a company blog post. "Angry Birds Space is a completely new game with innovative new gameplay, but with some of the familiar Angry Birds elements that fans already know and love -- plus some surprises!"

Rovio says it will release more information about the game in early March, but come the 22nd, the company will be launching its galactic game across several different verticals, including mobile gaming, retail, publishing, and animation. The game's tagline reads, "It's one small fling for a bird, one quantum leap for birdkind."

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"Not only is this a first for us as an integrated entertainment company, but the first time this has ever been done for a mobile game!" Rovio said.

Angry Birds has already released a trailer to tease the new game. The game's tagline reads, "It's one small fling for a bird, one quantum leap for birdkind."

For those who have never played Angry Birds, the game is simple: players use a slingshot to launch multi-colored birds at structures populated by evil green pigs. Players must eliminate all of the pigs from each level before moving on. There are currently three different iterations of the game, including the original 'Angry Birds,' the holiday-themed 'Angry Birds Seasons,' and 'Angry Birds Rio,' which was released as a promotional tie-in with the 20th Century Fox animated film "Rio."

In November, Rovio's CMO Peter Vesterbacka announced that Angry Birds has become the most downloaded game of all-time and fastest-growing game in history, scoring 500 million downloads in less than two years since its December 2009 release.

"This is a fantastic landmark achievement for us, and we're extremely delighted to see such an incredible amount of people enjoying our games," said Rovio CEO Mikael Hed. "We remain committed to creating more fun experiences and bringing exceptional quality to 'Angry Birds' fans everywhere."

In December, Rovio branched out and built its first fully-branded Angry Birds game with Wonderful Pistachios, called "The Hunt for the Golden Pistachio." The game was completely playable on Wonderful's website, GetCrackin.com, and required a Google Chrome browser to play it. Users were incentivized to pummel evil green pigs and crack open pistachios for a chance to win $300,000 in prizes, which range from free pistachios to $25,000 in cash. The promotion ended on Jan. 1.

But even with four games and countless levels and collectibles, people still want more Angry Birds. The company has been growing in size to accommodate the high demand, developing a long line of Angry Birds-themed toys, apparel, accessories, board games and a cookbook. Rovio recently announced that it will open up its first Angry Birds store in Helsinki and later open up shops in China, where the brand is huge - it's Rovio's second-largest and fastest-growing market --  but most of the available merchandise there is pirated.

"We're insanely profitable," Vesterbacka said. "We are very, very profitable. We're not a publicly traded company yet but we can fund our own growth."

The brand has grown so big that Rovio recruited former Marvel Studios chairman David Maisel, producer of the "Iron Man" films, to produce a feature-length Angry Birds movie.

"Hollywood is hot for the brand," said Rovio's North American GM Andrew Stalbow. "There's a very strong focus on Angry Birds to turn it into an entertainment franchise. That's why I joined."how

Vesterbacka believes Rovio is "not ready to file for an IPO tomorrow," but sees his company going public in "maybe a year from now." Rovio most recently received $42 million in March, from investors including Accel Partners and Niklas Zennstrom's Atomico Ventures. Rovio CEO Mikael Hed said it's "very possible" the company would have another funding round before going public.

"We're still building a lot of our infrastructure, our company, our platform, everything," Vesterbacka said. "There's a lot of good discipline in having to be ready to go public."

"Angry Birds" has become the fastest growing game in history, scoring 500 million downloads in less than two years since its December 2009 release, the most for any game all-time. The game is the top rated game in 79 countries. Gamers worldwide play the game on Android and iOS devices for 300 million minutes daily, which amounts to a grand total of 200,000 years.

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Angry Birds Space: Rovio to Launch "Completely New Game" on March 22

As more jobs are created and some Americans are beginning to feel more confident about the economy, stock prices have surged across the board. While most sectors have benefited from this surge in optimism, a few of the more cyclical—and heavily beaten down—corners of the market have seen even more impressive performances to start the year. No more has this been true than in the construction segment, as investors have piled into this corner of the market thanks to solid data, reasonable valuations, and hopes for greater demand going forward.

These expectations have been further boosted by strong economic indicators relative to the construction space specifically. Recent readings on the construction spending front came in well above expectations in terms of month/month reports, while other metrics such as housing starts also posted favorable figures. Beyond these data points, investors have also seen favorable releases regarding both personal income and the ISM Non-Manufacturing Index, all the while rates have stayed low, keeping borrowing costs at a minimum for those looking to expand their operations (read Three Cyclical ETFs That Are Surging Higher).

As a result of this broadly improving economic environment, low borrowing costs, and the vast wealth of untapped capital stored up by many businesses, some are forecasting that a resurgence in the building sector could have some staying power. This could especially be true if the trends highlighted above remain strong and investors continue to pile into highly cyclical industries like construction for their equity exposure (read Three Industrial ETFs For A Manufacturing Revival).

In light of this, it may be a good idea to tilt portfolios towards the building sector, at least in the short-term. While an investment in an individual stock could be an intriguing idea, some investors may be better off seeking broad exposure to the sector via an ETF. For these investors, we have highlighted three construction ETFs that could be in prime position to benefit from this positive trend in the construction world, or at least surge if the economic climate continues to improve as we go further into 2012:

ISE Global Engineering and Construction Index Fund (FLM)

If investors are looking for a global way to play this trend, both from an engineering and construction perspective, FLM is tough to beat. The product tracks the ISE Global Engineering and construction index which focuses in on firms that are principally engaged in the production or completion of large civil and capital projects or any aspect of the engineering process. In order to weight securities, the fund uses a linear-based cap-weighted method which stops a few firms from dominating the performance of the total index. With this strategy, the fund holds just under 70 securities although it does charge investors 70 basis points a year in fees (read Three Outperforming Active ETFs).

Top holdings for FLM are Vinci SA, McDermott international (MDR), and Fluor Corp (FLR), giving the fund a heavy tilt towards industrial firms. However, the product does have a median market cap of just $2.3 billion, suggesting a smattering of mid and small caps are in the fund. In fact, mid caps make up a majority of the fund’s assets at close to two-thirds of the total. In terms of country exposure, U.S. securities make up about one-quarter of assets while Japan (19.1%), and developed Europe (44%) make up much of the rest of the fund.

Dynamic Building & Construction Portfolio (PKB)

If investors are searching for a U.S centric play on the broad sector, PKB could be the way to go. The PowerShares fund tracks the Dynamic Building & construction Intellidex which consists of 30 companies in the U.S. from those sectors. The product also utilizes a more quantitative methodology which looks to evaluate companies based on a number of investment criteria including growth, valuation, timeliness, and risk factors. This approach produces a fund that charges a net expense ratio of 63 basis points a year, after current fee waivers of 28 basis points (also read Are Telecom ETFs In Trouble?).

Current top holdings include Vulcan Materials (VMC), KBR Inc (KBR), and Home Depot (HD) suggesting that while the fund has a heavy tilt towards industrials, consumer firms make up a decent chunk as well. In fact, industrials make up about 52% of the fund while consumer discretionary (23.5%) and materials (19.2%) help to round out the fund from an industry perspective. For market capitalization exposure, the product has a definite focus on smaller firms as mid caps make up a plurality at about 40% of the fund while small and micro make up another 50% of the product, leaving just 10% for large and giant cap firms. This suggests that the fund could be more volatile than some in the sector, pushing standard deviation levels up compared to more large cap focused funds in the industrial and materials sectors.

Dow Jones U.S. Home Construction Index Fund (ITB)

For investors searching for more of a housing recovery play, ITB could be an interesting choice. The product tracks the Dow Jones U.S. Select Home Construction Index which is a broad benchmark of firms that includes companies that construct residential homes including mobile and prefab domiciles. Homebuilders make up roughly two-thirds of the total exposure, although firms in the building materials segment occupy another 19.5% while home improvement firms take up another 9% of total assets (see Five Cheaper ETFs You Probably Overlooked).

This is in stark contrast to the SPDR S&P Homebuilders ETF (XHB) as this product puts less than 30% of its assets in homebuilders, giving double digit weights to home furnishing retail and home furnishing manufacturers. As a result, ITB could be more of a pure play on construction and thus make for an intriguing play for those focused in on this corner of the market. Total holdings include 27 firms while DR Horton takes the top spot, followed closely by Lennar Corp and Pulte Group. The product charges 47 basis points a year in fees but pays out a respectable 65 basis points in dividends in 30-Day SEC Yield terms.

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Three Construction ETFs For An Economic Recovery

Adelaide may get next Australian outlet

Some of Apple's 2012 retail plans should involve New York and Florida in the US, and the city of Adelaide in Australia, according to ifoAppleStore sources. The Carousel Center mini-store in Syracuse, New York is expected to move into a larger space later this year, possibly to one currently under construction near a Clark's in the same mall. The current location is rare in not only being a mini-store, but having its partner full-sized store situated 95 miles away, in Albany. The new Carousel Center shop could be ready by mid-year.

Elsewhere in the state, the Walt Whitman outlet in Huntington Station is also expected to move to a bigger space. Where in its mall it might move isn't known, though, nor is there any kind of timeline.

In Florida the owners of the BayWalk in St. Petersburg claim to have been in "conversations" with Apple, trying to lure the company to the area. The mall was bought by new owners in September, who have promised to invest in needed renovations and upgrades. Currently there is no hint of when the BayWalk renovations will be finished, though, or when Apple might move in.

Turning to Australia, real estate industry sources say that Apple has been talking with the developer of Rundle Place in Adelaide about a possible location. The building is a four-level mall in the city center, paired with an office tower. Construction has only just begun, however, with a 2013 completion date.

by MacNN Staff

See more here:
Sources tip Apple Stores in New York, Florida, Australia

Developers who want to build a 324-unit rental housing complex with a parking garage and 10,000 square feet of retail space received preliminary approval for bonds in an amount not to exceed $60 million from the Industrial Development Board today. The proposed complex would take shape on a 14-acre tract near Federal City in Algiers.

The IDB is the public body that considers requests for tax breaks and bond financing for development projects in New Orleans. Preliminary approval allows the developers to begin shopping the bonds to investors. But the project would need final approval from the Industrial Development Board and the approval of the State Bond Commission before it would move forward to the construction phase.

U/K/I Development LLC of Washington, D.C. and J.S. Karlton Inc. of Aventura, Fla., together doing business as Algiers Crossing, would like to build the housing site at the corner of Brookline Avenue and Slidell Street. The apartments would be mixed-income units, a majority of which would be rented at market rate.

The $66 million development would employ 535 people during construction and 26 people permanently. Provided it can be financed, the project would be completed in the first quarter of 2014.

Although board members gave unanimous approval to the preliminary bond issuance, many expressed reservations about the project because they said it didn't provide sufficient detail regarding how much money the developers themselves were investing in their proposal.

Steve Abdo, one of three developers who appeared before the board on behalf of the project, said they expect that there will be 25 percent equity in the project, 80 percent of which will have come from the developers. 

More here:
Algiers housing project wins preliminary bond approval

DUBLIN--(BUSINESS WIRE)--

Research and Markets (http://www.researchandmarkets.com/research/335a23/uae_building_const) has announced the addition of the "UAE Building Construction - Changing Landscapes" report to their offering.

The UAE Building Construction Industry witnessed contract awards worth an estimated US$ 8,698 million in 2011 and the industry is expected to witness building contract awards worth US$ 10,834 million in 2012.

Ventures Middle East with its vast experience on the pulse of the construction market and up to date tracking of projects across industries, analyses the changes and growth path of the tumultuous UAE Building Construction industry, its growth drivers and restraints and the factors - political, social, economic, technological, legal and regulatory and environmental that shape its growth path. The UAE Building Construction 2011-Changing Landscapes report explores the changes that have been witnessed by this industry and explores the effects of the same on the UAE building construction industry in 2011.

The report also provides in depth vital statistics on the state of the economy, contractor awards for the building construction industry and its main segments, namely, residential, commercial, retail, tourism and leisure and others (including airports, educational institutions, hospitals and miscellaneous projects) for the period 2010 to 2013 while also providing forecasts of real estate demand across the key segments of commercial, residential and retail for the years 2011 to 2015. This study would provide a complete overview and insight into the workings of the UAE building construction industry and its future outlook enabling players to identify and explore opportunities and challenges in this changing market space.

Key Topics Covered:

The UAE Building Construction Industry 2011 UAE Building Construction Market Overview -Contractor Awards and Real Estate Demand Top Clients, Consultants and Contractors and TOP Projects across the UAE building construction industry Future Outlook for the UAE Building Construction Industry

Companies Mentioned:

KEO International Consultants Architectural & Engineering Consultants, Abu Dhabi (AEC) Khatib & Alami Consolidated Engineering Company National Engineering Bureau (NEB) Sun Jin Engineering (South Korea) Mott MacDonald Dar Al Handasah Adnan Saffarini Surbana International Consultants Arcadis Gulf Ewan Architectural Engineering Consultancy W. S. Atkins Aedas, Dubai Arif & Bintoak Consulting AECOM Dimensions Engineering Consultants Brewer Smith & Brewer Gulf RMJM Woods Bagot Hellmuth Obata Kassabaum (HOK) Dewan Architects and Engineers Al Suweidi Engineering Consulting Palm & Turner Architects Al Habtoor Leighton Arabian Construction Company (ACC) And more...

For more information visit http://www.researchandmarkets.com/research/335a23/uae_building_const

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Research and Markets: UAE Building Construction - Changing Landscapes: a Comprehensive Report

Kolkata, Feb 15: 

Berger paints India Ltd on Wednesday announced its entry into construction chemicals with five products.

It has set up two separate facilities at its paints units at Rishra, near here, and at Pondicherry at a cost of around Rs 10 crore.

Soft launch

The company has begun marketing the new products in Kerala, West Bengal, Tamil Nadu, and Karnataka.

After a soft launch and stabilisation of distribution through its paints dealer network, it would go in for a nation-wide campaign.

Turnover

Berger expected to record Rs 35 crore construction chemicals retail turnover in financial year 2013, Mr Subir Bose, Managing Director of the company, said.

“We should be happy if we can register a turnover of Rs 100 crore in the first three years”, he added.

The market size of construction chemicals in the country is around Rs 2,000 crore, largely served by small and tiny units.

Four top existing players have a combined market share of 10 per cent, said Mr Avijit Roy, Chief Executive Officer of the company.

Retail segment

“But they operate mainly in the industrial project space. We would not immediately enter this area, but stick to retail segment.

The five Berger construction products include ready mixed polymer modified cement-based adhesive for tiles and a paste/powder for filling the cracks.

jayanta_mallick@thehindu.co.in

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Berger Paints to make construction chemicals

by Joe Smith

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kgw.com

Posted on February 15, 2012 at 7:29 AM

Updated today at 7:29 AM

PORTLAND -- The Woodburn Company Stores has announced that it will expand one last time, the addition of 16 stores using up all the available construction space.

Since the popular outlet mall opened in 1999, every three to four years more stores have been added, bringing the current total to 98.

Officials said 90 percent of the 39,000 square feet of new retail space has already sold out.

Construction on the $10 million project started February 6th and should be finished by fall, creating 30 to 50 jobs during that time.

"We're 100-percent occupied in the existing phase and there are others (retailers)  who would like to be here and some great brands are heading our way. The customers demand it, so it's time to build," said Teri Sunderland, General Manger for Woodburn Company Stores.

The expansion will be a mix of many new companies to the area, including Spritz, a brand name fragrance outlet. More names of the retailers slated to take up space will be released in about a month.

Last year more than four million people visited the outlets. The mall expansion should create about 150 new retail jobs.

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Woodburn Company Stores adding 16 stores