Investment Corporation of Dubai (ICD), a financing arm of the government, and Brookfield Asset Management have agreed to jointly sponsor a real estate fund with $100 million in seed money to focus on the domestic market.
While the real estate market looks subdued with the sector weathering a host of issues, this is not a good news either. DLF’s Chairman K P Singh is out of the top ten list of Forbes.
While other leading players in the realty and construction are reeling under investors’ loss of confidence, JP Infra’s stock has zoomed by over 40 per cent from Rs.44.50 exactly a month ago to Rs.63.05 on the BSE, outpacing peers.
Indians are the biggest property buyers in Dubai among foreign nationals, as per the figure released by the Dubai Land Department (DLD) for the first half of 2011.
Real estate developer Surendra Hiranandani, who owns Hiranandani Upscale, plans to enter the luxury housing space under the Signature brand.
Would you like to have the luxury of global landmark Al Burj of Dubai in India only?
The Malaysia’s Selangor State Development Corporation (PKNS) has forayed into India’s real estate sector and is close to concluding a deal with a leading developer to build affordable houses in Mumbai.
Bennett, Coleman & Co. Ltd has acquired an undisclosed stake in an ad-for-equity deal with Noida-based Investors Clinic Infratech Pvt Ltd.
The level of FDI in the real estate sector is unlikely to show a quantum jump this year, courtesy a slow GDP growth rate, high debt levels of the real estate developers, labour shortage and economic crisis in the US and Europe.
Mukesh Ambani has sold his plush 21-storey building in the commercial district of Nairobi to the World Bank for nearly $23 million (approx Rs.115 crore), making it the largest single property deal in East Africa.