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Sol continues its path of internationalization in the home care sector, strengthening itself in particular on the South American market. The Italian group, also active in the technical, industrial and medicinal gases sector, takes over control of Pronep, a historic operator on the Brazilian market.
Sol has already been active for some time on the local home care market through the Ppar Group companies, including Global care, Unit care and DN Global, as well as Bla and Jml, operating in the hospital business in São Paulo.
This latest operation sees the special purpose vehicle Airsol, wholly controlled by Sol spa, acquire 85% of the share capital of Pronep lar internacao domiciliar – a company based in Rio de Janeiro and active in the home care sector in the States of Rio de Janeiro, Sao Paulo and Espirito Santo – by the Elevate care international Brazil aggregator company, wholly controlled by the American private equity fund Halifax Group. The two Brazilian entrepreneurs and historical partners of the Sol Group, Euro Palomba and Luiz Tizatto, purchased the remaining 15%.
Founded in 1992, Pronepo recorded rapid business development in the state of Rio de Janeiro, then expanded into the states of Sao Paulo (1998) and Espirito Santo (2003), becoming one of the main Brazilian operators in the home care market . In 2018 it was acquired by the French multinational group Sodexo, which sold it in 2023 to the American fund Halifax Group.
In 2023 Pronep achieved a total turnover of approximately 227 million Reais, equal to approximately 40.7 million euros, serving approximately 2,500 patients, with a staff of 319 direct employees, working with over 40 insurance companies.
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Sol strengthens its position in Brazil and aims for leadership in the local market
Distribution of syrup and pure water among laborers under the initiative of ISU
– 2024-05-02 16:50:20
On the initiative of International Standard University (ISU) on Monday (April 29), syrup and pure water were distributed among working people in Mohakhali Wireless Gate area of the capital. This activity will continue for three days.
This initiative of the International Standard University authorities for the working people when the public life of the whole country including Dhaka is disrupted due to severe heat wave. ISU Vice-Chancellor Professor Dr. Abdul Awal Khan distributed syrup and pure water among the workers.
At this time, the vice chancellor said that the working people suffered the most due to the intense heat wave. Considering the humanitarian aspect, ISU tried to quench their thirst and give them some relief by giving them sharbat or water to drink. We always try to stand by people.
Thanking the ISU for this activity, the working people in immediate response said that this summer they get thirsty every now and then. We are very happy to provide drinking water.
Convener of this event and Deputy Director of ISU Planning and Development Abu Nazim said, ISU has undertaken this program for laborers and day laborers from the sense of social and humanitarian responsibility. One of our objectives is to make people aware of the impact of climate change.
Present at this time – Acting Treasurer HTM Quader Newaz, ISU Registrar Md. Faizullah Kaushik, Professor Mohammad Ali, Professor of Business Administration, Dean of Faculty of Humanities and Social Sciences and Chairman of English Department. Md. Abul Kalam Azad, Chairperson of Textile Engineering Department Professor Engineer Abdul Based Mia, Assistant Professor Jaglul Haque Mridha, Chairperson of Business Administration Department Dr. Mohammad Kamruzzaman, Computer Science and Engineering Department Chairperson Syed Mostafizur Rahman Chowdhury, Deputy Librarian Abu Zafar Mohammad Saifullah. Teachers, students and administrative officers of various programs also participated in the programme.
Home Prices Soar as Housing Supply Shortage Persists: Redfin Report
US Housing Market Update: Home Prices Hit Record High as Supply Shortage Persists
Home Prices Stay Stagnant, Per Redfin Report
According to a report by Redfin, the median home-sale price in the 50 largest metro areas in the US either rose or remained flat compared to the previous year for the four weeks ending April 28. This is the first time this has occurred since July 2022. This trend comes as a result of a shortage in the housing supply, causing low inventory and driving prices higher.
The report indicates that while new listings have risen 15% year over year, they still fall significantly below the usual level for April. In fact, this April had the fewest new listings recorded, except for 2023 and 2020.
Record-Breaking Home Prices and Mortgage Rates
The median home sale price climbed to a historic high in April, reaching an impressive $383,188, signifying a 4.8% year-over-year increase, as revealed by Redfin. Regionally, Anaheim, California took the lead with a 20% increase in home prices compared to the previous year, closely followed by a 13.4% surge in West Palm Beach, Florida. Furthermore, the combination of rising sale prices and current mortgage rates contributed to pushing the median mortgage payment to a record $2,890, marking a nearly 15% increase from the previous year.
The mortgage rates have surpassed the 7% threshold, with the 30-year fixed-rate mortgage climbing to 7.22% as reported by Freddie Mac. This signifies an increase from the previous week’s 7.17%, highlighting the upward trajectory. Meanwhile, the Federal Reserve announced its decision to maintain its benchmark rate, suggesting the likelihood of stable mortgage rates in the near future.
Demand Surges as Home Prices and Asking Prices Set New Records
Redfin’s data also reveals that the median asking price for homes, representing the price homeowners hope to sell for, skyrocketed to a record high of $420,450 for the four-week period ending April 28. This surge in asking prices marks the largest increase since September 2022, further complicating the homebuying process for potential buyers amid the current spring season.
Real estate agents have noted that the recent surge in mortgage rates has unsettled buyers and impacted mortgage application activity. Nevertheless, the market continues to be fueled by a sufficient number of buyers, allowing prices to remain at elevated levels.
Conclusion
The housing market in the United States is experiencing a significant shift, with home prices reaching record highs across the nation as the shortage in housing supply persists. The current upward trend in sale prices, combined with escalating mortgage rates, presents challenges for prospective homebuyers in navigating the market. However, the presence of ample demand ensures that prices remain elevated, sustaining a competitive and dynamic landscape.
Home Prices Soar as Housing Supply Shortage Persists: Redfin Report