Sri Lanka’s Rank Holdings, a group which has interests in gaming, power and logistics, is planning a 200 million US dollar hotel and residential complex in the capital Colombo with an Indian partner, an official said.
The debt load of 11 listed real estate companies in the country has risen 15%, or by Rs.5,000 crore, to Rs.38,500 crore in the last 12 months.
The US credit rating cut and uncertainties about Europe’s debt situation is a cause concern.
Ascott, one of the world’s largest serviced residence owner-operator, is expanding its footprint in India in cities like Mumbai, Delhi and Pune, adding to its $250 million investment in seven upcoming properties.
Defying any ears of a market slowdown, liquidity crunch and rising inventories, the April-June period saw a 65% growth in retail mall space supply across India over the previous quarter
On 11 March, a major earthquake and tsunami hit Eastern Japan. According to official statistics, the number of deceased had surpassed 13,000 as at 14 April.
A growing number of investors from India are showing interest in Dubai as they look to capitalize on 60 per cent savings per square foot in the Dubai property market, a Dubai-based real estate company has said.
Indian house prices rose rapidly from 2002 to 2007. Strong economic growth and urbanization supported house prices, while in city centres a housing bubble was encouraged by inadequate infrastructure, lack of planning and antiquated land use laws.
The finance ministry has asked the central bank to bar real estate firms from seeking banking licences and alter conditions relating to financial inclusion and stake dilution by promoters.
Indians are emerging as among the most active buyers of property in Britain, according to a report in local British media.