Page 198 - Real Estate

Embassy to merge assets with IBREL, create one of India's largest realtors

The proposed merger will be achieved through a cashless scheme of amalgamation

Embassy Group to merge assets into IBREL to create India's largest realtor

Embassy Group already has around 14 per cent stake in Mumbai-based IBREL and the same will increase to 45 per cent after the merger of assets of these two companies

Gujarat govt approves construction of high-rises of over 70 floors

Gujarat Chief Minister Vijay Rupani has approved construction of buildings of 70 floors or more in five major cities of the state

Loss of urban salaried jobs likely to have debilitating impact on economy

While informal jobs have returned, and even increased after being hit by the lockdown, formal jobs have not

Residential property launches back on track as consumer sentiment improves

Pent-up demand, cheaper home loans, availability of completed units and WFH seen pushing up demand

Puravankara to invest Rs 1,500 cr in warehousing on e-commerce surge

It has tied up with Morgan Stanley as a JV partner for the warehousing business and will be concentrating on Bengaluru followed by Mumbai, Hyderabad, Chennai and Pune

Covid has accelerated need to adopt digital tools in real estate: Reports

Real estate developers should make investment in digital adoption for reducing their operational cost and improving end-products to deal with the challenge posed by the COVID-19 pandemic, according to consultancy firm Bain & Company. The outbreak of COVID-19 has adversely impacted the already weak consumer sentiment in the residential property market and the "demand is likely to be muted until there is economic stability and job security", it said. Bain & Company on Thursday released its report 'Residential Real Estate in India - Unlocking Efficiency and End-Product Efficacy Through Digital.' "In these pressing times, it is imperative that real estate companies make investments in digital adoption to stay ahead," the report said. Internet of things (IoT), digital engineering, advanced project management tools, improved connectivity, data proliferation and adoption of smart phones and hand-held devices, are some technologies that will change operating models in the near term, .

Prestige Estates surges 7% amid report Blackstone may acquire group assets

Blackstone will acquire 100 per cent control of around 20 million square feet of commercial space, including 16 million sq ft of ready and completely leased assets, the report said

India's second REIT to encourage more builders to monetise assets: Experts

The participation of retail investors will also increase in future REITs, enabling them to earn dividend income from fully leased and listed commercial real estate

Sobha Q1 profit plunges 93% to Rs 6.6 crore as business takes hit

Realty firm Sobha reported a 93% decline in its consolidated net profit at Rs 6.6 crore for the quarter ended June as sales and construction activities were stalled because of the Covid-19 pandemic

Looking for a second home? UK, Spain among top destinations: Knight Frank

One in four people surveyed by Knight Frank said they were more likely to move in the next 12 months as a result of the Covid-19 pandemic

DLF reports Rs 180 cr loss before tax on lockdown-induced disruption

Firm's operating revenue plunged 59 per cent year-on-year to Rs 543.6 crore from Rs 1,331.2 crore

Looking for a second home? UK, Spain among top destinations: Knight Frank

One in four people surveyed by Knight Frank, said they were more likely to move in the next 12 months as a result of the Covid-19 pandemic

Domestic realty funds launch stressed funds to tap stalled projects

With very low sales and financing from banks and NBFCs drying up, fund managers expect good returns from their investments, experts said

Domestic realty funds launch stressed funds to tap opportunities

When sales are very low and financing from banks and non banking finance companies are not coming, fund managers are expecting good returns from their investments, experts say

Rents for premium properties will remain robust: Amit Diwan of Hines India

In a Q&A, the country head and MD of Hines India says housing projects by good developers are doing well despite the pandemic and lockdown

Real estate: Current sentiment pessimistic; project funding an issue

In a separate report by the economic wing of State Bank of India (SBI), the realty segment was among the top sectors where players / companies opted for moratorium

Nisus Finance to invest Rs 500 cr in distressed realty projects by March

Nisus Finance, a debt fund focused on real estate, plans to invest the entire Rs 500 crore from its second platform by March next year, as it sees good opportunities for providing last mile capital to complete housing projects and acquisition of distressed assets during this COVID-19 pandemic. Nisus Finance had launched its first fund named 'Real Estate Asset Performance Fund 1' totalling Rs 430 crore, which was invested across nine projects. "In March this year, we announced first closure of our Rs 500 crore real estate fund. This new fund is in partnership with Dalmia Group," Nisus Finance MD & CEO Amit Goenka told PTI in an interview. The two partners have committed Rs 100 crore in this fund, while Rs 400 crore is being committed from HNIs and family offices, he added. "Our new fund from Dalmia Nisus Finance of Rs 500 crore is under deployment and we hope to be able to employ this capital by March 2021," he said. Goenka said the discussions are in advanced stage for three ...

Supreme Court allows sharing of resolution plan of Unitech Ltd under IBC

The bench also said the amicus shall collate the suggestions, if any received, with regard to the resolution plan for assistance of the court

Housing sales reviving, end-user demand may strengthen: Mahindra Lifespace

Housing sales as well as enquiries from prospective homebuyers, which were badly hit during April-June due to the COVID-19 pandemic, have started to revive gradually and end-user demand is likely to strengthen in coming months, a top official of Mahindra Lifespace said on Thursday. In an interview with PTI, Mahindra Lifespace Developers MD & CEO Arvind Subramanian said the company did not witness much cancellation of apartments booked by customers as widely feared after the outbreak of COVID-19 and subsequent lockdown. "Just like the economy, businesses were severely challenged in the first quarter of this fiscal year. There was almost a standstill in housing sales and construction activities," he said. However, Subramanian said, "The good news is that our existing customers are committed to their bookings. We are not seeing a large cancellation which could have been one of the outcomes." He said the sales bookings and enquiries from customers in July increased as compared to the .