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KONE ACQUIRES MAJORITY STAKE IN SPANISH COMPANY
KONE has acquired a majority stake in Citylift, S.A., a Spanish company providing elevator installation, maintenance and modernization. Citylift has more than 5,000 elevators in service and 111 employees in 25 locations across Spain. Pierre Liautaud, KONE executive vice president and area director for South Europe, Middle East and Africa, noted Citylift's "strong customer relationships and high quality services" will enable KONE to gain a stronger foothold in the Spanish residential lift market. Citylift will remain a separate brand.
HONG KONG ESCALATOR-BASED WALKWAY SYSTEM PLANNED
Plans for Braemar Hill Pedestrian Link in Hong Kong, which would include lifts, moving walks, elevated walks and escalators, are moving forward with completion of a preliminary design and engineering impact study by the Highways Department, the Hong Kong Economic Journal reports. If all goes well, it could open as soon as 2020. The system would enhance access to homes and schools on Braemar Hill and is estimated to attract approximately 14,000 pedestrians per day. Residents are expected to welcome the move, as it will both improve access and drive up home prices.
LUXURY RESIDENTIAL TOWER FOR NEWARK
The first new residential project for Newark, New Jersey, in decades is taking shape in the form of One Theater Square, a 22-story brick-and-glass tower that will house 245 luxury residences, ground-level retail and 285 parking spaces overlooking the waterfront, developer Dranoff Properties reports. Part of the city’s resurgence, the tower is located across from the New Jersey Performing Arts Center, the new Prudential headquarters and a Whole Foods Market. Construction is set to begin in the fall.
For information on the elevator and escalator market in the Middle East and North Africa regions, visit the Elevator World Middle East website at: www.elevatorworldmiddleeast.com.
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