Danube Building Materials has opened its new Buildmart showroom in Ahmedabad, India, with aims for stronger presence in Asia’s third largest economy, the Dubai-based company said on Tuesday, Dec 13.
Unitech Ltd said on Monday, Dec 12, it has put on hold a plan to expand its infrastructure business and withdrawn another to merge two of its subsidiaries due to poor macroeconomic scenario.
Many of the best luxury and ultra-luxury hotels from all over the world are readying plans to enter the India market, and are expected to set up chains over the next couple of years.
Saffron Group, the Delhi-NCR based real estate group, which has recently forayed into hotel business by launching the maiden hotel property – Comfort Inn Saffron Kiran at Faridabad, NCR, plans to make more investments in the hospitality sector primarily in Northern India.
International agency Fitch Ratings has withdrawn ratings for various debt programmes for two listed real estate companies — Unitech and Parsvnath Developers Ltd — from its coverage.
DLF has bought its partner Hilton’s 26% share in joint venture DLF Hotels & Hospitality for Rs.120 crore.
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).
DLF has informed the Bombay Stock Exchange that it has received the first tranche of Rs.200 crore from IDFC, which is in the process of acquiring 100% shareholding in a JV company of DLF called Galaxy Mercantile.
While the rest of the world continues to recover from decreased tourism, international hotel chains are bullish to the Asia Pacific region where the travel market is on the rise and struggling to keep up with the demand.
Sahara’s defiance against the market regulator SEBI seems to have opened the can of worms for the company.