Jones Lang LaSalle global property update for Q3 2012 shows edges towards recovery. It has released its quarterly Global Market Perspective, which captures in-depth data and analysis on the global property market in the year to date.
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.
Bandra Kurla Complex was created by MMRDA as an alternate CBD to Mumbai, with the express purpose of halting the further growth of offices and commercial activities in South Mumbai. Currently, BKC has a total stock of 8 million square feet of office space. An additional supply of 2.5 million square feet is expected in 2012 with the completion of The Capital, FIFC and TCG Finance Centres.
The emergence of the secondary and tertiary cities led to an aggressive increase in hotel development and provided avenues for expansion of hotel brands, which were previously dependent on new opportunities in just the five main cities.
A city with almost every household having one family member working in the Gulf, Kochi or Cochin’s resident population is waking up to new business avenues. This transition is also leading to a growing demand for commercial and residential property.
DLF has signed an agreement to divest all its stake in Galaxy Mercantile Ltd, a joint venture company between DLF Home Developers Ltd and Infrastructure Development Finance Company Ltd (IDFC).
Targeting the growing corporate sector in India, global serviced-residence owner-operator The Ascott International aims to double its presence by 2015 at an investment of about USD 250 million.
Billionaire Sam Zell said he is entering the real estate markets in Colombia and India in the next two weeks as he continues to favor international investments over U.S. property deals.
The world’s largest casino entertainment company, Caesars Entertainment Corporation is in talks with leading Indian developers and hospitality players to expand its presence in the country.
ICICI Ventures-backed Delta Corp has acquired 51 per cent stake in Daman Hospitality Pvt Ltd for Rs 50 crore in its second acquisition this year.