Sahara India Group To Explore Business Prospects In UAE

Indian company Sahara India Group said it will explore business prospects in the UAE. Subrata Roy chairman of Sahara will be in the UAE to look for prospective projects in different sectors.

Sahara India Group, which puts the market value of its property at more than fifty billion dollar, has diversified business interests in areas like finance, real estate, media and entertainment, tourism, and services.
Roy will meet well-known business people and industrialists of the region and look at a variety of large-scale ongoing projects in the UAE. The focus of his visit will be on discovering business and investment opportunities in UAE as well as in India, company spokesman Abhijet Sarckar said in a statement.

Sahara is a well-known player in the real estate industry of India and owns a huge land bank. It is developing two hundred seventeen townships across India ranging from 100 acres to 300 acres each.
Sahara owns three entertainment television channels, one national news channel, 36 regional news channels and publishes various newspapers and magazines in Hindi, English and Urdu.

One Comment

  1. Posted July 24, 2008 at 4:14 am | Permalink

    Currently, there is a slowdown in the number of transactions happening within the industry. There is a shortage of funds and thus a lot of developers and buyers are all in the wait and watch mode. The rise in home loan interest rates combined with inflation has caused a slowdown in the middle level demand; however, the luxury level demand has not been as affected. There are some builders who are not yet compromising on their prices, and these builders with greater holding power are expected to hold out for another 6-8 weeks before yielding. Foreign investors too are adopting a cautious approach now and are waiting for developers to improve their own functioning before stepping in. Better locations for malls, high streets, commercial complexes are preferred. Since the traditional commercial mortgage spaces are too costly, alternative locations are being looked at. India tier 1 cities have increased in the transparency index; however there is still a lot to be done before we compete with the international market. Our standard policies need to improve, currently except for SEZs and townships; there is no single window format in place. FSI (floor space index) is also a major problem, coupled with cash transactions and speculators, the real estate sector is seen lacking. Currently, investors are also a lot more intelligent. Also, with the foreign interest Indian property receives, builders are put under more testing conditions. This a clear indication that there is still a lot of hope in the industry, investors are coming in too, but are more careful in terms of proper valuation and appraisals. While currently rentals are up and purchases are going down, things will hopefully turn around in the next few years.For more view- realtydigest.blogspot.com

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