DLF plans to lower debt to Rs 17,000 cr
DLF on Sunday, July 15, said it planned to cut its Rs 23,000-crore debt to about Rs 17,000 crore in this financial year and asserted that it was not unduly “perturbed” by the massive load.
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Sentiment turns bearish in real estate sector: DTZ Research
The economy is facing difficulties on several fronts, including declining GDP growth, high inflation, high fiscal and current account deficits and depreciation of the rupee. The poor performance of the stock market has attracted a lot of negative press in recent months and this was reflected in the commercial real estate market which remained tepid in Q2 2012, says a DTZ research.
CHD Developers acquires Empire Realtech
CHD Developers has acquired Empire Realtech, a company holding about 12.34 acres of land at Sector 106 in Dwarka Expressway, Gurgaon. This land is licensed and has all approvals in place. CHD Developer acquired entire shareholding of Empire Realtech, pursuant to which it has become a wholly owned subsidiary of CHD Developers Ltd.
Over 30% mall supply delayed in 1st half of 2012: Cushman & Wakefield
More than 30% of retail mall space against the projected supply for the first half of the year were deferred, says Cushman & Wakefield report on the retail real estate market. A fresh mall supply for H1 2012 stood at 2.27 million sq. ft. (msf). Approximately one million sq.ft. of expected mall supply was deferred to second half of the year or next year. The overall vacancy rate for the major cities as of H1 2012 stood at 19.6% marginally higher than the previous quarter.
7 million sq ft of prime office space absorbed in Q2 as compared to 5 million sq.ft in Q1
Leasing of prime office space across key cities in India witnessed an increase in the second quarter of 2012 with over 7 million sq.ft. of office space being absorbed across key cities.
Desperate times in realty leading to unprecedented restructuring-IV
Quality has suddenly become the buzzword in the realty sector to tide over the unprecedented crisis meet with the uncertain times ahead. Builders are now hiring quality surveyors, construction project manager, energy efficiency specialists and others who can get them quick buyers.
Dewan Architects & Engineers forays into Indian realty
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.
Desperate times in realty leading to unprecedented restructuring-II
During the boom, many developers dreamed of transforming the urban landscape with millions of square feet of homes, offices and malls and set off on an aggressive expansion financed with debt that at 6 percent interest was cheap by Indian standards.
Rising aspirations & value consciousness driving luxury housing-III
Some developers believe in the age when everybody is constantly looking forward to upgrade, luxury residences should not be seen just in the premium super category. As a matter of fact, Purvankara has successfully initiated the concept of luxury affordable as well. According to him there is no dearth of buyers; rather the challenge is for the developers to execute a luxe living.
Ascendas to buy Shriram SEZ for 500 cr
Singapore-listed technology park developer Ascendas is close to acquire an IT Special Economic Zone of Shriram Properties in Chennai for about Rs 500 crore, said banking sources close to the development. Ascendas, which owns a string of business parks in India, is said to have pipped competing offers from other global investors Tishmen Speyer, Xander Group and Mapletree, a real estate arm of Temasek.