Track2Realty-Agencies: Jones Lang La-Salle (JLL) India has set up a new entity, JLL Segregated Funds Group to raise funds to invest in the Indian real estate market, and its first fund worth . 300 crore will be launched soon in the domestic market.
Track2Realty-CRIENGLISH: In a country where majority of the people do not have decent homes and the volume of sales of housing units in Indian markets is under pressure,a growing number of Indians are keen to buy homes abroad, particularly in the United Kingdom.
Track2Realty-JLLI: Recently, the annual GDP number (6.5% GDP growth during FY April 2011-March 2012) released by the Reserve Bank of India resulted in a negative sentiment throughout the real estate industry. Consistent with this, in 1H12, the demand for commercial real estate moderated on the back of office occupiers that remained cautious about their expansion plans.
Interest from international real estate investors in Indian real estate has been limited in 2012. India has witnessed 6% q-o-q growth in direct commercial real estate in Q1 2012, as compared to China which has seen negative growth of -45%, however China performed better in Q2 2012 on the back of one mega deal. In Brazil, investment volumes seem to be reaching a more ‘normalised’, sustainable pace following the supercharged 2010-2011 period.
The US Government has hired property consultancy Knight Frank to assess the valuation and strategic review of all its real estate properties in India. The properties, which house embassies, consulates, offices, residences, schools and libraries at prime locations across Delhi, Mumbai, Hyderabad, Chennai and Kolkata, were acquired over the years and are estimated to be approximately worth thousands of crores.
In Q2 2012, the retail landscape in India was characterized by subdued demand coupled with restrained supply of mall space and largely stable rentals, says a DTZ report. While continued high inflation levels have restrained consumer spending and delayed purchase decisions, the slowdown in economic growth and weak consumer sentiments have resulted in a sense of uncertainity amongst retailers thereby putting expansion plans on hold.
Jones Lang LaSalle’s REIS findings are in, and a closer look at the 1H12 data reveals relatively subdued activity during the period compared to 1H11. In 1H12, the top seven cities of India together recorded a 35% dip in absorption compared to 1H11. The contraction in demand caused developers to progress more slowly on their projects thereby aligning the supply with demand.
A new retail report released by Jones Lang LaSalle emphasises that changes across the global retail banking environment continue to be driven by political, economic and technological trends. These trends will lead to continued bank expansion in frontier markets, offsetting the search for greater efficiency in developed markets.
The Hinduja Group, with a global presence in core sectors such as oil and gas, automotive, power, IT, banking and finance, today announced a major foray into the real estate sector in India involving an investment of up to $15 billion.
Understanding cultural differences is the key to successful workplace change programs in Asia, according to a new report from Jones Lang LaSalle.