Beyond the pessimism & optimism and, to some extent, more than expected recovery post the Covid-19 lockdown, the fact remains that 2020 has been by and large the most unforgettable year for the economy in general and the real estate market in particular. The old timers in the business even maintain that this has been even worse year than the global economic collapse after the Lehman crisis in 2008.
Private Equity funds, domestic and multi-national, have become major players in the Indian real estate market, investing tens of thousands of crores. While Blackstone and Brookfield have hitherto been largest foreign investors in Indian real estate, a gamut of Japanese Private Equity giants are also making waves. Heavyweight Japanese Corporations such as Mitsui Fudson, Mitsubishi Corporation, Sumitomo Corporation and Genkai Capital too have made big-ticket investments in Indian metro cities.
The success of the Embassy Parks REIT has given global investors strong reason to increase their stake in multiple commercial assets across the country so that these could be listed under REITs in the future. Some of these global institutional investors who are eyeing the country’s real estate market via REITs include Japan’s NikkoAm StraitsTrading Asia, US’ North Carolina Fund, Taiwan’s Eastspring Investments, Malaysia’s Hwang Asia Pacific REITs and Infrastructure Fund, and Canada-based Sentry Global.
Colliers International foresees robust demand from GICs, with leasing by GICs across six major cities in India to be in the range of 32.5 million sq ft between 2019 and 2021. Over 2014-2018, occupiers leased about 53.0 million sq ft of office space in multi-tenanted buildings for their GICs. Bengaluru led the demand with about 20.1 million sq ft, followed by Delhi NCR and Hyderabad. Further, we found that companies from the engineering, energy and manufacturing sectors favoured Bengaluru, which accounted for 32% of GIC demand between 2014-2018.
Without compromising on fiscal prudence, the Finance Ministry will have to present a budget that is not only inclusive but also assures growth across industries. It clearly shoulders a considerable share of responsibility for retaining India’s position as the fastest-growing economy.
The survey clearly suggests marriage is as much a choice for women as mortgage, and marriage is definitely not predestination of home ownership. Even among the married couples the role of the women is changing and they are increasingly getting on the driver’s seat when buying a house.
There is no restriction on the number of properties that NRIs can own in India. However, NRIs obviously need to make informed decisions on such acquisitions. The most important consideration is that of whether the property purchase is for their own or their family’s actual use, or as an investment for rental income and potential capital appreciation.
Bottom Line: Come budget and all discussions and debates around…
The International Real Estate and Investment Show (IREIS, a B2C sales and networking platform where spot sales are permitted, the 10th edition is bringing leading local and foreign real estate developers under one roof will reflect the attractiveness of UAE‟s real estate sector and will attract investors from various parts of the world.
The UAE residents from Syria, Yemen, Lebanon, Saudi Arabia, Bahrain, Qatar, Kuwait, Oman, India and Pakistan have increased demand for Caribbean citizenship to 51%, especially to St. Kits & Navis, Dominica, Grenada, Antigua & Barbuda and St. Lucia – the highest in the world – according a report released by AAA Associates, a Dubai-based immigration consultancy.