CBRE has announced that its Western Region would now be headed by Nikhil Bhatia, based out of Mumbai. Nikhil Bhatia currently co-heads the Capital Markets business for CBRE in India, and shall assume the additional responsibility of managing the firm’s operations for the region.
The Indian strategy in the hospitality segment seems to be borne out of the demand-supply market dynamics. An industry survey estimates that the three major Indian metropolitan areas—Bangalore, Mumbai and Delhi—command some of the highest hotel rentals in the world.
Dewan Architects & Engineers, architecture and engineering consultancy firm, has drawn up an ambitious plan to expand its footprints in the Indian realty business. The company recently announced its venture into the burgeoning Indian real estate market, in a move that comes as part of Dewan’s strategic expansion plans to reach out to more markets in South East Asia.
The operational inexperience of the developers’ is also being sewn up through strategic tie-ups with the majors in the hotel industry. An improving economic scenario and demand for more hotel rooms across categories is persuading international hotel chains to sign new management contracts with Indian developers and property owners, according to analysts. The industry will witness the announcement of a number of new hotels in the year ahead.
It is not just real estate developers and national & international hospitality majors, but several high net worth individuals and business groups from sectors like auto, petroleum and telecom have grabbed hospitality assets, marking a strategic trend shift. Track2Realty analyses how opportunities and roadblocks co-exist in the hospitality, thus making it an interesting sector where there is room for everyone to grow.
DLF, has sold its entire stake in Adone Hotels and Hospitality Limited (Adone) to Kolkata-based Avani Projects and Square Four Housing & Infrastructure for Rs 567 crore. This was in line with its strategy of divesting non-core assets to pare debt, DLF said in a statement.
Chicago-headquartered Hyatt Hotels Group is betting big on the upper-midscale segment in India. Its growth in India is going to be driven by three of its brands — Hyatt Place, Hyatt House and Hyatt Regency. It has already firmed up plans for the first Hyatt Place in the country, likely to be launched at Hampi in Karnataka in June.
Is the Indian real estate sector the right place to make a serious career in now? Compared to more developed countries, the Indian real estate sector still lacks sophistication and transparency. However, it continues to be in the limelight of domestic and international investments. This has naturally brought on the need for better, more capable human resources.
ICS Realty India, the Mumbai-based retail asset management firm has announced to develop projects on its own. The company has hitherto raised and managed funds for other developers. It is also floating a joint venture firm for its hospitality foray in two week’s time.
Ahmedabad stands out as a city that weathered the market slowdown most smartly and the property market of the city was the first in the country that showed signs of recovery by June 2009 itself. Since then realty in Ahmedabad is back and booming, with nearly 35% appreciation.