Realty at the bottom of the pyramid
While everybody, including the Finance Minister seems to be focussing on the affordable housing, the definition of the real estate at the bottom of the pyramid seems to be changing.
While everybody, including the Finance Minister seems to be focussing on the affordable housing, the definition of the real estate at the bottom of the pyramid seems to be changing.
Indian arm of a leading Bangkok based developer is looking to invest some $300 million in the country’s real estate market, particularly in the major cities of Delhi, Mumbai and Bangalore.
Nearly four years back when the real estate market was at its peak all the developers tried to diversify into other greener pastures.
Real estate traditionally has always had the perception of being a sector where ‘land & buildings’ was the language required and ‘people skills’ were of no great relevance. But, now, even big Real estate players are soon beginning to understand the importance of effective ‘client servicing’, enhanced ‘team productivity’ and professional ‘managerial skills’.
Dubai’s real estate market is likely to bottom out in the next one year, while peer Abu Dhabi will at least a much longer time, according to Jones Lang LaSalle (JLL) experts.
Stocks of real estate companies suffered widespread losses on the BSE today dragging down the sectoral index by 3.14 per cent on all-round selling by funds on fears of rate hike by RBI to curb inflation.
Chinese officials are blaming the speculators for soaring property prices and have announced to build 36 million affordable homes over the next five years.
Times Realty India 2011, a two-day exhibition being held in Dubai on the realty sector of India opens today in Dubai. The exhibition will see participation from some of the biggest organizations in the property industry from India.
Surging growth in emerging markets such as China and India will boost demand for real estate, although uncertainties such as an oil shock could pose major risks, economist Nouriel Roubini said on Thursday.
Suspecting the use of black money to finance deals in the country’s booming real estate sector, the Income Tax Department is keeping close tabs on the sources of funding for developers’ lucrative projects.