Luxury home prices falling in Hong Kong; project growth in the south and east of the UK; and India’s subdued market, in the this week’s Market round-up.
The economic pedestal on which India has stood for the last two decades has started to look somewhat shaky of late as the country attempts to tackle increasing inflation rates, spiralling GDP growth and a looming currency crisis brought on by the global downturn.
One of Singapore’s wealthiest families recently announced plans to enter India’s high-end property market. The Jumabhoy dynasty, now in its third generation, have floated a Indian real estate company Raffles Residency Pvt Ltd toconstruct Raffles Park in Whitefield development, situated in the heart ofIndia’s IT capital Bangalore The development, which will reportedly cost an estimated [...]
New Singapore tax restrictions squeeze property owners, while India bans overseas real estate purchases.
Recently the Central Government approved the Real Estate (Regulation & Development) Bill, which is ready to be introduced in Parliament during the Monsoon Session.
by Namrata Kohli Legendary hospitality designer Tony Chi was in Gurgaon, New delhi’s upscale satellite city recently to unveil his plans for the grand hyatt residencies there, which is being developed by Ireo, India’s first and largest private equity fund dedicated to the real estate sector. “I design to arouse people’s consciousness,” says celebrity interior [...]
Despite the dull mood in the Indian real estate market and a general slowdown in sales, record transactions continue unabated for upscale properties in the country’s capital. Super prime properties in New Delhi’s prime areas seem immune to recession, a point proved by a recent spate of high value transactions.
Developers in India are setting aside up to 40 percent of mall space for luxury brands following the success of the mixed use retail model used in Southeast Asian countries.
by Namrata Kohli New Delhi’s satellite city shot into prominence as an outsourcing hub for many global Information Technology (IT) and IT Enabled Services (ITES) companies and today serves as North India’s commercial centre. Backed by a strong corporate and industrial base, Gurgaon (also called the Millennium City), has emerged as an independent micro-market from New [...]
Ask most internationally renowned architects where they think their finest moments in design would take shape, and the answer – at least until recently – is unlikely to have been India. India is becoming fertile ground, seeded with significant architectural opportunities for those with the concepts and courage to take them on. What I find [...]
Postcards from the Edge: In search of a Platinum hit in India. Incredible India! So claims this renaissant nation’s destination marketing campaign, and with projects underway in Mumbai, New Delhi, Bangalore and Pune, I find myself in no position to argue. The highly speculative real estate markets of the subcontinent might not seem the natural [...]
In the second quarter of this year Hong Kong home prices saw the strongest quarterly growth since Q3 2009, according to new data from Knight Frank. Elsewhere in the region, the major mainstream markets saw positive price growth with China, India and Indonesia performing particularly well, said the consultancy. Quarter on quarter price growth jumped [...]
A new city spanning 125 acres in North Bangalore, India, has been launched by real estate and infrastructure development company Bhartiya Urban, part of the Bhartiya Group, with input from global architecture, urbanism and design practice Broadway Malyan. Bhartiya City is the largest urban development within the limits of any Indian metropolitan area and will [...]
Hospitality companies have been trying to tap India’s growing number of high net worth individuals and companies that are willing to pay for premium rooms after the mid-market expansion drive of the last two to three years.
The real sector has emerged as one India’s largest drivers of economic growth. As a sector, it provides large scale employment and contributes significantly to the GDP. For decades, environmentalists have been warning that frenetic human economic activity associated with the breakneck speed of economic growth is placing a huge strain on the earth and its natural resources.
There is an “unhealthy correlation” between the building of skyscrapers and impending financial crashes, according to analysts at Barclays. The world’s first skyscraper, the Equitable Life building in New York, was completed in 1873 and coincided with a five- year recession. The pattern continues throughout history. The Empire State Building coincided with the Great [...]
Non-resident Indians are snatching up property in their home country at rates 25-30 per cent higher than just two months ago, property developers are saying, as the rupee has fallen about 20 per cent against the US dollar since August. NRIs are typically paid in foreign currency, lending them increased buying power as the rupee [...]
The Indian economy has grown steadily throughout the course of the year but interest rates have also gone up, and this has caused the output growth to decline and capital values have turned negative for the first time since 2009. The level of financial uncertainty in Europe and America is having an adverse on [...]
The current decline in the American building industry is forcing the world renowned architect Frank Gehry to look for projects in Asia where the building costs and commissions can be two-thirds lower than in America. Frank Gehry designed the Guggenheim museum Balboa in Spain which was voted the most influential piece of architecture of [...]
The wealth in Asia will triple by 2015 to US$15.8 trillion, according to the findings of the recently-published Asia Wealth Report by private Swiss bank Julius Baer, according to a news article on the website of Asia News Network , a network of national daily newspapers published in Asian cities. As of June 2011, the [...]