Jones Lang LaSalle Meghraj Releases 'Coimbatore - An Emerging Real Estate Destination'

'Manchester of South India' Holds True Investment Potential

For some time now, Tier II and Tier III cities have been out of the spotlight in terms of real estate potential. While many of these cities have indeed failed to deliver on the erstwhile hype, international real estate consultancy Jones Lang LaSalle Meghraj has isolated one of the genuine exceptions in Coimbatore. 'Coimbatore - An Emerging Real Estate Destination' is a definitive white paper that traces the evolution of this enigmatic city’s real estate market, identifies its numerous market drivers and showcases its indisputable prospects as the perfect South Indian real estate investment destination of the future.

“It is time to sit up and take notice of Coimbatore’s status as a highly promising alternative IT/ITES and biotech destination,” says Ramesh Nair, Managing Director, Chennai, Hyderabad, Jones Lang LaSalle Meghraj. “This Tier III city has everything it takes, including telecom, power, a highly skilled work force, a rapid pace of infrastructure development and a pro-active Government that is aggressively promoting the city.”

Factoring in Coimbatore’s high literacy rate, the scale at which top multi-nationals are migrating into this city and the manner in which the retail, hospitality, entertainment and residential sectors are growing, JLLM’s 'Coimbatore - An Emerging Real Estate Destination' asserts that Coimbatore is indeed the Tier III boom story of the future.

“Our findings in this study indicate that Coimbatore will emerge as a favoured destination for real estate investment in the long run,” states Abhishek Kiran Gupta, Head – Research, Jones Lang LaSalle Meghraj. “There is a huge potential for local, national as well international developers in the real estate sector in Coimbatore. As a result, we are of the opinion that there is no better time than now for developers, investors and occupiers to strategize and collaborate to reap the long-term benefits of right investments in the right place.”

Jones Lang LaSalle Meghraj released 'Coimbatore - An Emerging Real Estate Destination' at COIMBATORE EDGE, a forum that discussed Coimbatore’s competitive real estate advantages. This event, organized by Confederation of Indian Industry with JLLM as the Knowledge Partner, saw prominent speakers from the real estate community analyzing the city’s potential from every angle.

COIMBATORE EDGE took place at The Residency, Coimbatore on June 23, 2009 between 3.30 and 6.30 p.m.

About Jones Lang LaSalle Meghraj
Jones Lang LaSalle Meghraj, the Indian operations of Jones Lang LaSalle, is the premiere and largest real estate professional services firm in India. With an extensive geographic footprint across ten cities (Delhi, Mumbai, Bangalore, Pune, Chennai, Hyderabad, Kolkata, Kochi, Chandigarh and Coimbatore) and a staff strength of over 2900, the firm provides investors, developers, local corporates and multinational companies with a comprehensive range of services including research, consultancy, transactions, project and development services, integrated facility management, property and asset management, capital markets, residential, hotels and retail advisory.

For further information, please visit www.jllm.co.in