Latest Property News on 'Real Estate Developers'

‘Leander Sports’ ties up with Omaxe

Ace tennis player Leander Paes today joined hands with real estate developer Omaxe Ltd to design and manage fitness centers in latter’s five townships in North India.

‘Leander Sports’, the company promoted by Paes, today signed a memorandum of understanding to provide the concept and design of health clubs, spas, meditation centers, yoga cells, gyms, sports complexes in the upcoming five townships of the developer. Read More »

Indian Builder Provides Real Estate in Dubai

India’s second-largest developer, the Mumbai-based Lokhandwala Infrastructure has made its way to Dubai as Lokhandwala Builders International where it builds, wheels and deals some of the city’s most sought after real estate.

Dubai’s booming real estate industry has attracted investors from the expatriate community and especially Indian and Pakistani natives with British or U.S. citizenship who is rushing to the new hub between Europe and Asia, a short flight between their two homes, Jean Soriano, Lokhandwala Builders International’s sales coordinator, told reporters. “Indians go back to Dubai instead of Bombay where real estate is more expensive,” she said. Real estate in Dubai offers an excellent investment choice with premiums of at least 30 percent in three years and the law allows homebuyers to sell their property after their first down payment. Read More »

BIAL Exploring Real Estate Development around Airport

The Bengaluru International Airport Limited (BIAL) is exploring real estate development around the airport. According to Anurag Mathur, joint managing director of Cushman & Wakefield, BIAL is planning to put up premium office space, technology centre and business centre over 150 acres.

“The company is also exploring major urban entertainment centre on an area of about 50 acres. The opening of the airport will set benchmark for airport real estate sector in the form of retail, office space, convention centre and hospitality,” he added. Read More »

Parsvnath Close to Deal for Nanocity

Parsvnath Developers, the Delhi-based real estate developer, may bag the development rights for one of India’s biggest infrastructure projects, the Rs 1,850-crore Nanocity, coming up at Panchkula near Chandigarh.

The project, spread over 11,138 acres, being jointly promoted by Hotmail founder Sabeer Bhatia and the Haryana State Industrial and Infrastructure Development Corporation (HSIIDC), is modeled on the Silicon Valley and will come up in two phases. Read More »

Emerging Markets Invest $1.7 trillion in Real Estate

The most popular targets for real estate investments now are countries in the new economic region stretching from China across India and the Middle East to Africa (CHIMEA), said a report.

The top 50 emerging markets represented in A T Kearney’s recent Real Estate Opportunity Index spent a combined total of $1.7 trillion on construction in 2007, with a five-year CAGR (compound annual growth rate) of up to 6 per cent. Read More »

Pranab hails Dubai Firms’ ‘tailor-made’ India Projects

The projects being designed by various Dubai-based companies as part of their investment plans in India are tailor-made for Indian requirements, according to External Affairs Minister Pranab Mukherjee.

The minister said this after going through a presentation on ‘Dubai’s growth and plans for the future and planned investments by leading Dubai companies in India’ organized by the Dubai Executive Council, a Dubai government entity that formulates and implements federal regulations and local laws and prepares annual budgets along with development plans. Read More »

DLF, Indiabulls bring back S’pore REIT listing from cold

It’s destination Singapore once again for realty majors Indiabulls and DLF Assets. After deferring their decision earlier this year, the two companies are once again planning to list their real estate investment trusts or REITs.

Indian realty giants are headed to Singapore again. Both Indiabulls and DLF Assets will tap the Singapore market for their REITs, after having deferred their plans earlier this year due to market volatility. Read More »

Dubai’s Deyaar drops Project with India’s Ansal

Deyaar, a Dubai property developer at the centre of an investigation into alleged embezzlement, said it had agreed to drop plans to develop a real estate project in India. In November, Deyaar, Dubai’s second-largest property developer by market value, said it expected to finalize a $5 billion agreement to build a township near Delhi with India’s Ansal Properties and Infrastructure Ltd.

An initial agreement with Ansal to work together had been cancelled by mutual consent, Deyaar said on Wednesday in a statement on the Dubai bourse website. It did not explain why. Read More »

Ansal’s Husing Pot Sheme under MRTPC Sanner

Ansal Housing & Construction Ltd’s residential plots project in Karnal has come under fair trade practices body MRTPC’s scanner, as advertisements promoting the scheme withhold the true cost of plots while inducing potential buyers to seek loans only from a particular bank.

The Monopolies and Restrictive Trade Practices Commission (MRTPC) has directed its investigative unit DGIR to look into the claims made by Ansal Housing and Construction Ltd for its upcoming modern township in Karnal. Read More »

Realty Developers feel Liquidity Squeeze

Real estate developers are feeling the liquidity crunch with funding sources tapering off. On the one hand, high interest rates and soaring property prices have hurt off take, on the other hand, rising steel, cement prices have pushed up input costs by 20-25 per cent, which developers have to absorb for now.

”The crunch is getting severe. It’s not apparent but will become more apparent in the next six months. Land prices are likely to fall in the next 3-6 months,'’ said Chanakya Chakravarti, MD (real estate business), Actis Advisers, a private equity firm. Read More »