What has been an interesting finding during this fiscal year is the fact that a number of relatively smaller developers but with impeccable track record of delivery and consumer satisfaction are breaking the myth that it is the sheer volume and premium that elevates a company at the Brand Leadership Chart.
The Indian real estate market has always been notorious for its lack of transparency, and the changes in recent times has been less than desirable. As India aspires to get clean money into the sector, the foreign funds too have high standards in terms of service quality and clarity.
The Sobha Creek Vistas residences are set in the most scenic views of the city’s main attractions like the Dubai Creek, the Ras Al Khor bird sanctuary, Downtown Dubai and the iconic Dubai canal.
Till a decade back such was the mad rush for raising money in the capital market that even the real estate companies with limited presence in select micro markets started launching projects across the country to showcase a pan-India presence. Significant increase in housing demand, organized retailing and liquidity boom from 2003 to 2008, led to huge increase in land prices and real estate values and most real estate companies had a great run.
MORE till date has invested capital in the real estate sector through three real estate funds and PMS/ Prop investments. Today, cumulative AUM under MORE stands at more than INR 2,100 crore spread across IREF (INR 200 crore), IREF II (INR 500 crore), IREF III (INR 1030 crore) and balance under PMS / Prop Investments.
When the market sentiments were bullish and foreign investors were testing the Indian realty market, many of the relatively not-so-polished developers started hiring these white collared professionals to negotiate with their global counterparts in a language that they understood. Problem started when this skilled workforce started colouring the vision of the promoter and hence driving the management decisions.
Functional Professionalism can be broadly defined as the strict adherence to courtesy, honesty, transparency and responsibility when dealing with individuals or other companies in the business environment. This trait often includes a high level of excellence going above and beyond basic requirements.
India’s most admired and trusted real estate brand has won the “Iconic Real Estate Brand Award” at the India Best Brand Series and Awards (IBBA) 2018 held recently in Delhi NCR. These awards recognise the brand strength and success stories of corporates, SME’s, entrepreneurs and start-ups. The winners were selected on the basis of brand audit, consumer mapping, and jury ratings.
Although sustainable real estate is still in a nascent stage in the country, India is actually one of the leading counties when it comes to green buildings development. In fact, India ranks only second after the U.S. in terms of the number of green technology projects and built-up area.
Nearly two third, as many as 64 per cent, categorically say they would wait for the market to have more clarity and transparency before making final their investment decision. The general mood among the NRIs is to play it safe now than be sorry with a wrong investment choice.