Business & Finance

Apr132024 by FWMNo Comments

Indian real estate expected to reach US$ 1.5 tn by 2034; driving 10.5% of economic output: Knight Frank India – CII Report

India’s GDP has the potential to reach US$ 10.3 tn by 2034 Urban cities in India will require 78 mn new homes between 2024-34 Upcoming demand could lead to USD 906 bn worth of new homes in by 2034New Delhi, April 12, 2024: In its latest report titled ‘Indian Real Estate: A Decade from Now’, Knight Frank India, a leading real estate consultancy in the country, in association with the Confederation of Indian Industry (CII), has projected that the value of the Indian real estate sector will reach an estimated USD 1.5 trillion by 2034, constituting 10.5% of the total economic output by then. In 2023, the sector's market size was approximately USD 482 billion, contributing 7.3% to the total economic output. The residential market is expected to lead with a value of US$ 906 billion,...

Mar232024 by FWMNo Comments

Flex-space market size expected to touch 126 million sqft, addressing a USD 9 billion market by 2028: Avendus Capital

Business & Finance

Bangalore, March 22, 2024 Avendus Capital, India’s leading Investment Bank for private equity advisory, released a comprehensive report on how flex workspaces are disrupting the Indian office market. According to the report, India’s commercial real estate market will see strong demand to push adoption of flex workspaces, leading the sector to grow up to ~126 million sqft at a 15% CAGR, addressing a USD 9 billion market by 2028. This growth is expected to garner the attention of all categories of investors – growth capital, private equity, real estate, HNIs and family offices, venture debt and structured credit.The flex workspace market in India is dominated by product-led operators offering flexible office solutions across the spectrum. Sectors like IT & ITeS, BFSI, consulting...

Mar182024 by FWMNo Comments

ADB, Lhoopa Sign Deal to Expand Green Affordable Housing in the Philippines

Business & Finance

MANILA, PHILIPPINES (18 March 2024) — The Asian Development Bank (ADB) and Lhoopa, Inc. have signed a loan agreement of up to $20 million to help deliver affordable housing for average-income earners in the Philippines, improving their quality of life and reducing the country’s housing shortage.The financing will support Lhoopa’s capacity to acquire, renovate, construct, and sell affordable properties, sold at an average price of Php 850,000 (around $15,000) primarily to Filipinos in jobs such as drivers, security guards, factory workers, teachers, and office administrative workers. At least 25% of the homes sold will be certified by Excellence in Design for Greater Efficiencies, an internationally recognized green building standard system.“This is ADB’s first private sector housin...

Mar72024 by FWMNo Comments

Leasing to cross 50 msf in 2024 yet again, a ‘new normal’ for India office

Business & Finance, News

India office holds upside potential to scale up to 60 msf in 2024Domestic enterprises to account for over half of the office demand during 2024 GCCs to gain further ground accounting for over 40% of the total demand BFSI and Engg & Mftg. to drive demand for Grade A office spaces Flex spaces are likely to drive about 15-20% of the overall leasing in 2024 Large-sized deals of 100,000 sq ft or more, projected to account for 50-55% of 2024 leasing activity About 30-35% of Grade A office demand is likely to come from PBDs in 2024 Gurgaon, India, 05 March 2024: With consecutive all-time leasing highs in 2022 and 2023, India's office sector has proven its resilience, and showcased consistent growth amidst global challenges. India's office market is set to consolidate ...

Mar72024 by FWMNo Comments

Stans Buildtech Group secures INR 160 crores from SWAMIH Fund to revive stalled SRA project, Sky Annex, in Mumbai

Business & Finance, News

Mumbai, India, 07 March 2024: Leading real estate consulting firm, Colliers India, recently assisted Stans Buildtech Homes Pvt. Ltd. in securing financing of Rs. 160 crores from SWAMIH Fund, managed by SBICAP Ventures Limited, for its SRA project. Sky Annex, located in Chembur, Mumbai, was taken over by Stans Buildtech in 2016 and has been under development since. A legacy of issues involving tenants, flat buyers, approvals, and lack of suitable financing to meet requirements led to the project being stalled, and is now set to resume, following the deal.“This deal exemplifies SWAMIH Fund's commitment to understanding and resolving complex real estate situations. By providing solution capital, we are not only unlocking value for various stakeholders but also fulfilling our objective of ...

Mar72024 by FWMNo Comments

Ajmera Realty inks INR 500 Cr of structured deal for Ajmera Manhattan, partly prepays GCP loan

Business & Finance, News

March 6th, 2024, Mumbai: Ajmera Realty & Infra India Ltd has successfully secured credit facilities totaling INR 500 Crores from two leading financial institutions: Standard Chartered Bank and ICICI Bank. These funds will be utilized for the execution of Ajmera Manhattan, a luxurious residential project situated in Wadala, Mumbai. Additionally, a portion of the funds amounting to INR 200 crores has been utilized towards the partial prepayment of the GCP loan availed from HDFC Bank.The Ajmera Manhattan project has experienced robust booking activity, with over 60% of inventory already sold as of December 2023 and is also endeavored to be certified as a green building. The demand for the project remains strong, driven by the exponential growth in housing demand along the Sewri-Wadala...

Mar72024 by FWMNo Comments

Bangalore records residential registrations of Rs 14,436 Crores in Q4 2023. Prestige leads in transactions while L&T Realty tops in volume.

Business & Finance

Bangalore, 6th March 2024: Bangalore’s residential market sustains impressive growth in Q4 2023, recording 17730 transactions amounting to Rs 14,436 crores, as per Square Yards Data Intelligence for property registered by Inspector General of Registration (IGR), Karnataka.Bangalore-based Prestige Group reigned supreme in terms of units registered in this quarter, with 276 units, followed by Sobha Group at 218 transactions. In terms of sale value, L&T Realty emerged as a top contender, collecting Rs 1004 crores from the proceeds. Phoenix Mills claimed the second spot, capitalizing on the burgeoning demand for mid-segment and luxury homes, with Rs 307 crores worth of sales. Godrej Properties, Embassy Group, and Birla Estates were other developers who had a great run in the October-De...

Mar32024 by FWMNo Comments

TATA GROUP TO BUILD THE NATION’S FIRST FAB IN DHOLERA

Architecture, Business & Finance

Saturday, Mar 02, 2024 10:13:18 | Tata ElectronicsTaiwan's Powerchip Semiconductor Manufacturing Corporation (PSMC) will provide technology and execution support for the state-of-the-art greenfield facility in Gujarat to address the global semiconductor markets in the areas of automotive, computing, communications, and artificial intelligenceMUMBAI, India, March 1, 2024 /PRNewswire/ -- In a significant step towards creating an indigenous ('Make in India, For the World') semiconductor ecosystem in India, Government of India has approved a proposal from Tata Electronics to build a mega semiconductor fabrication facility ('Fab') in Dholera, Gujarat in partnership with PSMC. The fab construction will begin this year with a total investment of up to INR 91,000 crores (~US$11bn) and wi...

Feb252024 by FWMNo Comments

A.S.S.E.T Society Inaugurated Elevate 2K24 Job Fair: Paving Pathways to Professional Excellence

Business & Finance, News

Bangalore – ASSET Society, a beacon of education and empowerment, proudly announces the launch of Elevate 2K24, a groundbreaking Job Fair aimed at connecting talent with unparalleled opportunities. In collaboration with Presidency College, this event brings together aspirants, esteemed companies' HR representatives, and visionary entrepreneurs in a collective pursuit of professional growth.Elevate 2K24 is not just a job fair; it is a transformative platform where dreams meet opportunities, skillsets find purpose, and collaborations shape the future. With the support of Presidency College and the active participation of HR professionals from leading companies, ASSET Society envisions this event to be a catalyst for shaping the destinies of 10,000 individuals and fostering the entreprene...

Feb202024 by FWMNo Comments

SKA Arcadia Redefines Ghaziabad’s Commercial Landscape

Business & Finance, Home Improvement, Lifestyle, News

Ghaziabad, Uttar Pradesh, India Feb 19, 2024 17:58 IST: SKA Group, NCR’s promising real estate developer, has unveiled SKA Arcadia, positioned as the epitome of high-street commercial excellence that promises to redefine Ghaziabad's commercial real estate landscape. Located in Sector-2, Wave City, along NH-24, Ghaziabad, the project is strategically situated merely a minute away from the 8-lane Delhi Meerut Expressway and 10 minutes from the Eastern Peripheral Expressway, ensuring seamless connectivity for businesses and customers alike.SKA Arcadia transforms the commercial panorama of Ghaziabad The strategic positioning of SKA Arcadia just 5 minutes away from the proposed metro station, 20 minutes from Noida (Sector 62) via the 14-lane NH 24, 20 minutes from Greater Noi...