Track2Realty-Agencies: With real estate in East Africa fast emerging as a big opportunity, Reliance Industries, in a joint venture with Delta Corp, has purchased land worth Rs 200 crore in Kenya for development of housing and office properties and is already making good profits.
Track2Realty Exclusive: The current environment necessitates greater discipline in marketing, steered by a well-conceived strategy. Absorption levels in many cities, both in the residential and commercial segments would indicate that developers are carrying surplus inventory on their balance-sheets.
Track2Realty Exclusive: The multiplier effect of real estate sector and its capacity for generating employment is well recognized. It is estimated that the sector contributes close to 6 per cent to the gross domestic product (GDP) of India and is estimated to be growing at 20 per cent per annum.
Track2Realty Exclusive: Some of the companies are using online media for generating sales lead; while others are focused on customer relations. With the medium new and realty more or less reluctant in the initial stages, there are very few who are actually understanding the medium and adapting themselves to what others think as a necessary evil. Tata Housing believes in using the medium for engaging with the customers more than just generating sales leads. Brotin Banerjee, MD & CEO of Tata Housing shares with Track2Realty how they strategise their social media usage. Excerpts of the interview:
Track2Realty Exclusive: There are analysts who believe the retail investors need to be exposed to this asset class through an institutionalized vehicle, which would be regulated. REITS is the ideal solution.
Track2Realty: Office markets in India registered a downward trend in absorption in the first half of the year (Jan–June 2013), according to the latest report by Cushman & Wakefield. The total net absorption across top eight cities in H1 2013 was noted at 10.9 million square feet (msf) which denoted a decline of 15% compared to the same period last year.
Track2Realty: Cushman & Wakefield has expanded its Greater China operations into Taiwan by opening its first office in Taipei. It has appointed Jack Lin as the Managing Director of Taipei office. Prior to joining Cushman & Wakefield, Jack was the Managing Director of Taiwan Sotheby’s International Realty where he set up the luxury residential brokerage business. Together with Jack, Steven Chen was also appointed as the Director of Agency. Steven has more than 16 years’ experience in the real estate industry and was previously at Savills.
Track2Realty Exclusive: The spin in the century has brought a series of transformations for the Indian economy and influenced by this change, cities have become the focal point for future developments. As a result, the real estate sector is constantly transforming to meet the developing requirements. Even cities such as Bangalore, Chennai and Hyderabad in South India have acquired a place on the global real estate map – a standing that was restricted just to Mumbai and Delhi in the past.
Track2Realty Exclusive: Sitting in the back bench of a real estate award night I heard two developers talking among them as to in which category are they getting the award. Did I hear it right? Not the nominated category, but the category of getting award? Even before the awards were announced, how come they know that they have already bagged the award?
Track2Realty Exclusive: Awards have often been the source of sulking within the business community. However, when it comes to real estate, one has got absolutely no reasons to sulk as awards are not just rigged but customised for the companies at a cost. Track2Realty finds while some buy it for recognition, brand promotion or just notional value; others dismiss the offer being aware that m0re than they needing the award, such trophies need their brand value for establishing credibility.