Business
Walmart and Alquist strike landmark deal, jump-starting 3D-printed commercial real estate
Construction company Alquist 3D worked with Walmart last year to build a nearly 8,000-square-foot 3D printed addition to its store in Athens, Tennessee.
Alquist
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Walmart partnered with construction company Alquist 3D last year to build an almost 8,000-square-foot addition to its store in Athens, Tennessee, for online order pickup and delivery services. It is the largest 3D-printed commercial structure in the U.S. and, despite a bumpy start, a key proof of concept for the technology’s commercial viability.
Alquist, based in Greeley, Colorado, just announced it will now print more than a dozen new Walmart buildings, as well as buildings for other commercial retailers, in what is arguably the largest-scale commercial real estate deployment of this technology, which has mostly been used in residential construction so far.
As part of that deal, Sika, one of the world’s largest construction materials companies, with a heavy focus on sustainability, will provide materials to Alquist for all future 3D-printed projects and licensees. This will streamline Alquist’s national pipeline, lower material and freight costs, and accelerate development of more sustainable mixes for large-scale 3D-printed construction — including the commercial projects rolling out with Walmart, according to Alquist.
“This collaboration positions Sika at the forefront of next-generation construction, opening new markets and creating long-term growth opportunities,” said Noah Callantine, 3D concrete printing engineer and field service specialist with Sika.
It is a clear turning point in CRE construction, which has been notoriously slow to modernize. The new technology has started to grow in the homebuilding market, but has been far slower in commercial construction, simply due to the size of the printers needed to create larger buildings.
Alquist, which designs and builds the larger-scale printers, as well as develops the code and software to operate them, started in the residential sector. It is now partnering with a large equipment rental dealer and a full-service general contractor to scale the technology commercially nationwide. Doing so helps to lower the high cost of materials, as well as the labor, which needs to be both trained and local, according to Alquist.
“The way to bring prices down [for] anything is to get volume, and as you get volume, you get the attention of suppliers. They see that it matters, and the more that they make, the cheaper that they can bring their supply chain down,” said Patrick Callahan, CEO of Alquist.
Growing pains
Construction company Alquist 3D worked with Walmart last year to build a nearly 8,000-square-foot 3D printed addition to its store in Athens, Tennessee.
Alquist
Callahan’s background is in defense technology, not construction, and he has positioned Alquist as a tech company. He said he follows the mandate of company founder Zach Mannheimer to find ways to build residential and commercial buildings and infrastructure faster, cheaper, better and greener.
He admitted the first project in Athens took far too long, as they worked out the kinks in both managing the materials and implementing the technology to print their first commercial building.
“It was a sort of classic Silicon Valley failing forward job,” Callahan said. “We were not part of the design process. They changed permitting. … The general contractor that we fell under met us about a week before we started, and nobody had ever done this before.”
The second project, a 5,000-square-foot Walmart pickup center in Huntsville, Alabama, took just seven days to complete.
3D labor
While the projects take far fewer workers, they need to be more highly trained than typical construction trades. Alquist partners with trade schools for its curriculum, introducing robotics and green materials. Callahan said that has been more attractive to what has been a severely reduced construction labor market in recent years.
“You’re not necessarily throwing rocks around up on a scaffolding, but using robotics in a safe, clean environment,” Callahan said. “We’ve seen a lot of what used to be traditional construction folks that kind of pushed back, they’re now leaning in.”
Growing competition
Icon Build, the largest residential 3D printing technology company, is also starting to dip its toes into commercial construction. It has completed a hotel project and is now in talks with potential commercial partners, including for construction of data centers. Its forthcoming Titan printer will be able to handle those larger-scale projects.
“I think once that’s out in the world, showing what it can do, verifying the cost estimations that we’re making to customers, I think that’ll probably open a lot of people’s eyes,” said Jason Ballard, co-founder and CEO of Icon. “I think we should expect to see a lot of interest in alternative ways of construction, data centers and other kinds of commercial things as well.”
But Ballard sees more headwinds than Callahan, particularly when it comes to labor. He said data centers are already “sucking up a lot of the labor in the market.” He added that 3D printing for commercial buildings will have similar pressures as residential to build more affordably and more quickly relative to conventional construction methods.
That said, Ballard said next year Icon will be manufacturing at least one of the new Titan printers each month, setting itself up to scale construction dramatically. Those printers will be able to create most types of industrial commercial buildings, although they are not ready for high rises.
“If we do what I expect that we’re going to be able to do next year and show, both on the revenue side, the cost side, the technology advancement side — I think we’ll grow over 300% next year, and we were already pretty busy this year,” Ballard said. “I think the world’s going to start to say, perhaps there are real opportunities to do better, beyond the pilot scale.”
Business
D-St blues! Sensex sheds 1.5K, biggest drop on a Budget day – The Times of India
At a time when global markets are witnessing high volatility due to geopolitical uncertainties, the hike in securities transaction tax (STT) on derivatives trades hit investor sentiment on Dalal Street on the Budget day. This in turn led to a sharp sell-off that pulled the sensex down by nearly 1,500 points—its biggest points loss on a Budget day—to close at 80,773 points. The sell-off also left investors poorer by Rs 9.4 lakh crore, the biggest Budget day loss in BSE’s market capitalisation.The day’s trading was marked by high volatility. The sensex rallied over 400 points as FM started her speech, fell about 1,100 points after the STT hike proposal was announced, partially recovered by mid-session to trade 600 points down on the day and then sold-off to close below the 81K mark for the first time in four months.On the NSE, Nifty too treaded a similar path to close 495 points (2%) lower at 24,825 points. Fund managers and market players feel the day’s sell-off was overdone, compounded by the absence of most institutional players since it was a Sunday. “The market’s reaction (to the hike in STT rates) was a bit overdone, although the decision itself was unexpected,” said Taher Badshah, President & Chief Investment Officer, Invesco Mutual Fund. “I think markets should settle down in 2-3 days.” Badshah said the Budget was in line with govt’s set path of the past few years, showing a conservative approach to setting targets.“The revenue and expenditure targets for FY27 are achievable. And since the rate of inflation is lower now, the nominal GDP growth rate of 10% may turn out to be on the higher side as inflation normalises during the year,” the top fund manager said. In Sunday’s market, of the 30 sensex stocks, 26 closed in the red. Among index constituents, Reliance Industries, SBI and ICICI Bank contributed the most to the day’s loss. Buying in software services majors Infosys and TCS cushioned the slide. In all, 2,444 stocks closed in the red compared to 1,699 that closed in the green, BSE data showed.STT hike aimed at curbing F&O speculation The decision to raise securities transaction tax (STT) for trading in equity derivatives means trading futures & options (F&O) will be more expensive from April 1. STT on futures trading rises from 0.02% to 0.05% now, and on options premium and exercise of options to 0.15% from 0.1% and 0.125% respectively. This could more than double statutory costs of trading F&O contracts.While the move is to curb excessive speculation by retail traders who mostly suffer losses, investors sold stocks of those companies that derive a large portion of their turnover from this segment. Stock price of Angel One crashed nearly 9%, BSE crashed 8.1%, Billionbrains Garage Ventures that runs the Groww trading platform, lost 5.1% and Nuvama Wealth Management lost 7.3%. STT hike follows a Sebi survey that showed that 91% of the retail investors lost money in the F&O market with average loss per investor surpassing Rs 1 lakh per year. Institutional and some high net worth players took home most of the profits from the segment.18% GST on brokerage for FPIs removedThe Budget proposed to do away with 18% GST charged on the brokerage that foreign portfolio investors pay in India. Among the host of changes to the GST laws that the finance minister proposed, one was abolishing clause (b) of sub-section (8) of section 13 of the Integrated Goods and Services Tax Act, 2017. This is being “omitted so as to provide that the place of supply for ‘intermediary services’ will be determined as per the default provision under section 13(2) of the IGST Act,” the Budget proposal said.
Business
Buying property from NRIs? Time to lose the TAN – The Times of India
Buying property from an NRI? Worried about obtaining TAN? Not anymore. To relax the compliance burden, the Budget has proposed that resident individuals and HUFs need not have a Tax Deduction and Collection Account Number (TAN) if they are purchasing a property from a non-resident Indian (NRI). The amendment will take effect from Oct 1, 2026.Under the proposed framework, resident individuals or HUFs can report the tax deducted at source (TDS) by quoting PAN, as is done when the transactions are between two residents. Presently, if a person buys an immovable property from a resident seller, the person is not required to obtain TAN to deduct tax at source. However, where the seller of the immovable property is a non-resident, the buyer is required to obtain TAN to deduct tax at source.Ameet Patel, partner at Manohar Chowdhry & Associates, said this used to be a detailed process. “At present, if a resident were to purchase an immovable property from an NRI, there is no separate relaxation regarding compliance with TDS responsibilities. As a result, in such cases, the buyer needs to obtain a TAN, register on the portal, and then deduct TDS u/s. 195, and pay to the govt. Under section 195, as with all other regular TDS sections, a quarterly e-TDS statement is required. A buyer would need professional help for all this.”Hinesh Doshi, CA, welcomed the move. “There used to be an unnecessary compliance burden due to this. While the process to obtain TAN is simple, people used to obtain TAN for just one transaction. So, this is a good riddance.”
Business
Harry Styles and Anthony Joshua among UK’s top tax payers
The former One Direction member-turned-solo artist appears on the Sunday Times list for the first time.
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