Category: Property Events

BuildMat likely to become an annual event

October 3, 2009 – 5:35 pm

The biennial exhibition BuildMat, sponsored by three major associations connected with the construction sector in Coimbatore, is likely to become an annual event after 2015.
To provide exposure to the latest products, the organizers have decided to invite manufacturers to directly participate in the 2011 BuildMat show.
Speaking to newspersons, Mr Praveen Chandra Prasad, Chairman, BuildMat 2011 Construction Fair, Coimbatore, said the sponsors of the exhibition, the Coimbatore Centres of Builders’ Association of India, the Indian Institute of Architects and Association of Consulting Civil Engineers (India) have started taking in bookings for stalls nearly 18 months in advance with a view to making it “as close to international standards as possible”.
Apart from domestic companies, participants from China, Malaysia, Sri Lanka and the Far East are also expected to showcase their products at the fair that will run from February 3-6, 2011.
The sponsors are hopeful of making the fair an annual show after 2015.

By rajani | Also posted in Property News | Tagged , , , | Comments (0)

Property expo in Mumbai from Oct 1

September 26, 2009 – 4:43 pm


The Maharashtra Chamber of Housing Industry (MCHI) will organize an exhibition `Property 2009′ at MMRDA Grounds, Bandra Kurla Complex, from October 1st to 4th. Over 75 real estate developers will showcase their projects in Mumbai and suburban areas such as Thane and Navi Mumbai, besides Pune. State Bank of India is the co-organizer of the event. The other partners in the four-day programme include ICICI Home Finance, Axis Bank, LIC Housing Finance, IDBI Bank, and HDFC. Citibank NA, Dewan Housing Finance Corporation, GIC Housing Finance, IDBI Home Finance and Kotak Mahindra Bank will also participate.

By rajani | Also posted in Property News | Tagged , , | Comments (0)

Lodha Developers among top 10 Builders

September 24, 2009 – 11:53 am


Lodha Developers Ltd. has been selected as one of the India’s top ten builders on the basis of a survey conducted by Construction World, India’s premier magazine for the construction sector.
The survey was conducted over a period of 4 months among a spectrum of handpicked audience comprising industry professionals from across India.
Mr. Abhisheck Lodha, Director, Lodha Developers Ltd. said, “Our selection as one of the top ten builders in India by the Construction World is recognition to our standards of excellence in every aspect of our services and our presence in varied segments like high-rises to mid-income luxury, in the real estate sector”.
Instituted by ASAPP Media, the award is recognition of exceptional work done by architects and builders in various aspects of infrastructure and real estate industry over the years.

By rajani | Also posted in Property News | Tagged , , , , | Comments (0)

Sub-prime crisis to lower investment in Asia’s property sector

May 27, 2008 – 3:53 am

The global sub-prime crisis will this year have the greatest impact on “mature” property markets in the Asia-Pacific region, leading to an overall decline in investments, international property consultant Jones Lang LaSalle predicted Tuesday. Direct commercial real estate investment in Asia Pacific reached a new high of 121 billion dollars in 2007, up 27 per cent on 2006, but prospects for 2008 are less rosy, said Jones Lang LaSalle.
Fallout from the sub-prime crisis, which started in the US, has been most evident during the first quarter of 2008 in more mature markets in the Asia-Pacific, such as Tokyo, Singapore, Sydney and Melbourne, where office capital values appear to have peaked, while a slowing in price growth is also likely for Hong Kong.
“As these markets account for the lion’s share of investment activity, we expect a decline in overall transaction volumes in Asia Pacific this year following the record result in 2007,” said Jane Murray, Head of Research – Asia Pacific at Jones Lang LaSalle.
But the sub-prime crisis will have a varied impact on the region’s property sector this year, said the real estate consultant.
In the office sector, a sharp slowing in rental growth is under way in Tokyo, while Singapore is seeing the beginnings of a softening in pre-let rates, and Shanghai has begun to brace itself for slowing demand in Pudong amongst its vital financial services tenants, said Jones Lang LaSalle.
But on the other end of the spectrum, the Manila office market has seen strong growth in business process outsourcing due to the increased emphasis by multinational corporations (MNCs) on lowering operational costs, it noted.
Another trend noted was that of MNCs moving their offices from central business locations to “cheaper peripheral sites.”
Singapore, for example, is seeing strong enquiry levels for built-to-suit options in business park locations, driving up rental levels in these districts.

By rajani | Also posted in Property News | Tagged , , , , , , , , | Comments (1)

DLF Assets files for IPO approval in Singapore

May 14, 2008 – 5:16 am

DLF Assets, the property fund of DLF Ltd, plans to launch an initial public offer of its office trust in Singapore by June to raise over Rs 8,000 crore. DLF is India’s leading real estate company in terms of market evaluation. Read More »

By rajani | Also posted in Property Articles | Tagged , , , , , , , , , , | Comments (0)

LnT To Develop Bombay Dyeing Complexes

April 16, 2008 – 7:42 am

Larsen & Toubro is planning develop nine million square feet at Bombay Dyeing & Manufacturing Company’s Textile Mills and Spring Mills complexes at Worli and Wadala at a cost of Rs two thousand crore.
Mr K.V. Rangaswami, Director and President (Construction), L&T, said that it would be an all-commercial project, comprising retail, IT and hospitality space, with no residential component in it. Read More »

By rajani | Also posted in Property News | Tagged , , , , | Comments (3)

Damac Properties signs 60 realty agents in India

March 31, 2008 – 7:36 am

NEW DELHI: Real Estate Developer Damac Properties announced on Monday that it has tied up with 60 agents in the country across metros and Tier I cities to market and sell their regional properties to the Indian investors.
“We are proud to have signed on 60 agents in India. As demand is high, we wanted to touch each corner of India through an experienced network of agents,” said the Damac Holding Founder and Chairman Mr Hussain Sajwani in a statement.
The company would provide training to the agents through its institute – Damac Agents Academy. “The main purpose of the training that we provide our agents is to equip the agents with product knowledge of Damac brand and its value, the sales process, luxury property selling skills; raising the bar and setting a service benchmark in the real estate market,” the Damac Properties CEO Mr Peter Riddoch said.
The company would market its Dubai-based Ocean Heights, Lotus Heights, Park Towers and the recently launched high-end residential properties through the agents, the statement said.
Damac Properties is a part of Damac Holdings, which is engaged in developing residential and commercial properties in Jordan, Lebanon, Qatar, Saudi Arabia, the Middle East and the Far East.

By rajani | Also posted in Property News | Tagged , , , , , , , , , , | Comments (1)

Buying Property In Goa Might Be Difficult For Foreigners.

March 15, 2008 – 6:08 am

Chief Minister of Goa, Mr. Digamber Kamat said that his government is seriously considering regulating the sale of property to foreign nationals in the state. The Goa government is working out on a bill to tense up the control on sale of land to foreigners. On this issue, Mr. Kamat said, “It’s not yet a cabinet decision but we are all concerned about how the image of Goa is being ruined in the wake of certain incidents involving foreign nationals”.

While Law Minister Dayanand Narvekar has announced that the government has decided to ban foreigners from buying properties in Goa, the ground reality may be different.

Mr. Narvekar told in a press conference,“The government has decided to bring in the Legislative Assembly an amendment to Section 22 of the Registration Act, which will empower the State government to ban the sale as part of its public policy”. But he elaborated by saying that registration of sale of land to any foreigner henceforth will require clearance from the Reserve Bank of India. However, Foreign Exchange Management Act (FEMA) does not mention that an NOC is necessary for buying property.
Read More »

By rajani | Also posted in Property News | Comments (4)

Vishal Retail to enter Real Estate

March 14, 2008 – 12:37 am

Vishal Retail is planning to enter real estate sector. Confirming this development Manmohan Aggarwal, CEO, Corporate Affairs, Vishal Retail told Business Standard that the new venture would be launched either in the second half of the current year or early next year.
He revealed that company is also planning to acquire 1 crore sq ft area in next three years which would partly be used for expanding the retail businesses and rest for real estate purposes.
The project is in formulation stage and would take time before it is launched. Meanwhile, Vishal Retail today also announced opening of its 92nd retail store at Pinjore today.
The company aims to open 100 stores in the FY07-08 with new stores in Chandigarh, Mohali and Manimajra.
Having achieved a growth of 100 per cent in the current financial year, Bajaj said that Vishal Retail was looking forward to acquire 25 lakh sq ft area by December 2008 to expand its retail chains. The Vishal Retail at present has 20 lakh sq ft areas in which it operates its different retail operations. The retail operations are spread in 62 cities across India. At present it has 90 hypermarkets and 3 Fashion Marts.

By rajani | Also posted in Property Investment | Tagged , , , , , , , , | Comments (2)

ASSOCHAM for at least 3 SEZs in Goa

March 8, 2008 – 3:35 am

Margao, March 7 The Associated Chambers of Commerce and Industry of India requested the State government to reconsider its decision on Special Economic Zones and advocated creation of at least of three SEZs, in Goa.

Three SEZs in bio and nano-technology, food processing and solar energy will help Goa attract investments up to Rs 50,000 crore and generate jobs for at least 20,000 youth, in next three years, ASSOCHAM said.

Addressing a press conference, on Friday, ASSOCHAM president, Mr Venugopal Dhoot said that SEZs in bio and nano-technology, food processing and solar energy would not require much land. Secondly it would help the state to prosper economically by attracting huge investments besides providing employment to the youth.

Mr Dhoot said that the controversy on SEZs on IT seems to be justified, as large amount of land was sought to be acquired in the name of IT. But if SEZs in bio, nano and food processing was created it would benefit the state, he added.

The ASSOCHAM president, who is also the chairman of Videocon Industries Ltd, further disclosed that Videocon has purchased around 35 acre of land in the state, near Karmali railway station, at Old Goa.

He said his company was planning to set up a knowledge based industry and a manufacturing unit, in the state.

By rajani | Also posted in Property News | Tagged , , , , , , , , | Comments (4)

Mega property Show At Hyderabad

March 5, 2008 – 7:22 am

Real estate in Hyderabad is witnessing a boom and the demand for residential & commercial properties has taken a quantum leap. Hyderabad is fastest growing cities in India is experiencing a rapid need for enhancement in infrastructure.

Read More »

By rajani | Also posted in Property Articles | Tagged , , , , , , | Comments (2)

Acacia buys $69m stake

March 4, 2008 – 4:50 am

MANAMA: Acacia Real Estate Limited has obtained 49 % of an Information Technology Park in India.
Logix TechnoPark is located in Noida – a master planned city adjacent to Delhi. Acacia is the real estate company that Bahrain-based TAIB Bank spearheaded in December 2006.
Total acquisition cost was $69 million. With a projected internal rate of return of over 24pc per annum, the deal was structured to provide investors with downside protection and an average cash coupon of 8pc per annum over a three-year holding period.
TAIB Bank is the exclusive placement agent for the project.
The property, along the Greater Noida Expressway, consists of four newly built 100pc occupied office towers with a total gross leasable area of 461,120sq/ft. It is currently leased to such strong tenants as Oracle, Mentor Graphics, Conexant Systems and SafeNet InfoTech.
“We are proud to be able to offer our clients this unique opportunity to invest in India’s real estate market,” said Acacia executive committee board member and TAIB Bank chief executive and vice-chairman Iqbal Mamdani.

By rajani | Also posted in Property News | Tagged , , , , , , | Comments (0)

GTC set for Realty Business Separately

March 3, 2008 – 5:14 am

NEW DELHI:Cigarette manufacturer GTC Industries pronounced that its board of directors has considered and decided an in-principle approval to separate the tobacco and the real estate business into two different entities.

The two entities would be listed separately on the stock exchanges in India.

ET had initially reported plans of a separation of the real estate business last November.
Commenting on the progress, GTC Industries chairman Sanjay Dalmia  told that the separation would unlock distinctive shareholder value across both verticals, tobacco as well as  the real estate. The company is in the process of probing different options for working out a suitable scheme of separation keeping the interest of shareholders in mind.”

As reported earlier, GTC Industries had been looking forward to separate its real estate assets spread across Mumbai, Baroda and Hyderabad into a separate company.

The separated entity would then become a real estate development company while GTC would remain the cigarette manufacturer with brands like Panama and Chancellor. The separated companies would form joint ventures and develop real estate assets.

By rajani | Also posted in Property Articles | Tagged , , , , , , , , | Comments (2)

Noida’s Got A New Hot Spot “Sector 119″

February 23, 2008 – 8:25 am

Sector 119 is now becoming center of attraction. Builders as well as People are also getting attracted toward this because all the major facilities are available near by sector 119. Oil Industry Development Board Office Complex is coming close by it. Various Builder groups are coming here with their projects. Read More »

By rajani | Also posted in Property Investment, Property News | Tagged , , , , , , , | Comments (0)

Developers shrug off REIT plans, looking out of the country

February 16, 2008 – 5:44 am

MUMBAI – Property developers are expected to turn overseas to list Real Estate Investment Trusts (REITs) as proposed local rules favour funds and small investors rather than real estate companies, officials said.
Developers are hoping to recover costs by selling properties to REITs in which they hold a controlling stake. However, draft rules, which restrict ownership by a single entity, may prompt them to list REITs elsewhere.
“We can sell our developments to Indian REITs. But we will still be floating them in countries that favour developer REITs.” Ramesh Sanka, chief financial officer at India’s largest real estate developer DLF, said.
“The protection mechanism (in India) essentially makes it a product for funds and investors and not developers,” said Sanka.
A REIT is a property investment trust that raises money from investors by listing on exchanges and uses the funds to buy out investments from a developer. It then leases out the property, using the rental income to pay dividend.
DLF and rivals Unitech and Indiabulls Real Estate are among a clutch of developers looking to Singapore for a REIT listing. DLF wants to raise $1.5 billion, Indiabulls $1 billion and Unitech $600 million, bankers have said.
R. Nagaraju, general manager, corporate planning, Unitech, told that Valuations in the international market are better. Funds are also better developed (abroad) and yields lower.
It is told by the one of the analyst that India does not yet allow REITs, but draft norms are in place. The move will increase transparency in the fragmented sector but developers need to be made direct stakeholders.

By rajani | Also posted in Property Articles | Tagged , , , , , , , , | Comments (0)

Aditya Birla Retail to invest Rs10000 crore

February 2, 2008 – 4:28 am

February 01, 2008. ABRL i.e. Aditya Birla RetaiL would be investing about Rs 10000 crore in spreading its operations across the country over a period of half decade.

Main aim of ABRL is to emerge as one of the leading retail players in India. It has planning to have 1500 supermarket and 100 hypermarket stores in the next half decade. Group is also investing in backend infrastructure to develop a high-end supply chain.
Read More »

By rajani | Tagged , , , , , , , | Comments (0)