FDI in retail signals evolution for retail real estate services
With FDI now permitted for multi-brand retailing in India, global retail giants are now zeroing in on India.
With FDI now permitted for multi-brand retailing in India, global retail giants are now zeroing in on India.
Mumbai-based Panchshil Realty has entered into an MoU with Korean company Hanmi Global Co Ltd for a business arrangement by which both parties would jointly pursue and perform consultancy services for project management.
Mapletree India China, a wholly-owned subsidiary of Temasek Holdings of Singapore, has acquired 100% stake in a Bangalore technology park for Rs.800 crore.
The availability of skilled manpower supported by availability of cost effective commercial real estate – especially in terms of Grade A projects – continues to drive demand for office properties in Pune.
Targeting the growing corporate sector in India, global serviced-residence owner-operator The Ascott International aims to double its presence by 2015 at an investment of about USD 250 million.
Indian commercial property market has lost momentum in Q3 with the capital values turning negative for the first time since 2009.
Even as global economic slowdown and uncertainty in financial markets have battered the real estate industry countrywide, properties in Kolkata and Chennai bucked the trend with steady demand in affordable and mid-segment housing.
Ackruti City is in talks with a couple of private equity (PE) lenders to raise around Rs.150 crore by selling around 25% in its proposed redevelopment project in Chembur, north eastern suburb of Mumbai.
The impact of slowdown is already being felt on the real estate market with residential segment witnessing sluggish demand across all the major cities.
While other leading players in the realty and construction are reeling under investors’ loss of confidence, JP Infra’s stock has zoomed by over 40 per cent from Rs.44.50 exactly a month ago to Rs.63.05 on the BSE, outpacing peers.