Hiranandanis have roped in Cherie Blair, the wife of former British Prime Minister Tony Blair and a Queen’s Counsel (QC), as an arbitrator for a Rs 1,400-crore dispute in the family. The other arbitrators are another QC and former Delhi High Court Chief Justice A P Shah. The panel is expected to solve by June the scrap between brother and sister, who are both high-fliers in their own right.
In a major reshuffle, Dubai-based real estate developer Emaar Properties on Monday recommended a new board increasing the strength of members to 11 from the present eight.
In the country’s commercial capital, Mumbai, over a dozen large developers and double their number of smaller ones are selling office properties as well, according to Ashok Kumar, Principal and Managing Director of Cresa Partners, a corporate realty services firm.
The Confederation of Real Estate Developers’ Associations of India (CREDAI), Gujarat organised a seven-day technical tour for its members in mid-January. The 60-member delegation, that included developers from Ahmedabad, Mehsana, Rajkot, Surat, Palanpur, Navsari, Unjha, Bharuch and other centres, visited Israel, Jordan and Oman.
India which is building the world’s second-tallest skyscraper, is catching up with China in an office building boom that may indicate that an economic slowdown is imminent, according to Barclays Capital Research.
Though a depreciating rupee has its fall out on all other economic activity, it is rather helping the Indian property market.
Many of the best luxury and ultra-luxury hotels from all over the world are readying plans to enter the India market, and are expected to set up chains over the next couple of years.
In 1962, Edward Lorenz, the renowned mathematician from Massachusetts Institute of Technology, published a paper on Deterministic Non-periodic Flow in the Journal of Atmospheric Sciences.
After CREDAI now real estate developers body NAREDCO has approached the CCI seeking intervention against the alleged cement cartelisation hitting real estate developers.
Bangalore-based Sobha Developers has bought entire equity of its joint-venture partner, Pan Atlantic Investments Limited, a Dubai-based PE investment company for Rs.98.5 crore.