Category — Construction
Real Estate Investment Trusts (REITs) are expected to make their debut in India next year, when New York-based Blackstone Group is expected to offer its first issuance of these securities enabling global investors to invest in real estate and infrastructure in India.
REITs offer investors special tax considerations and typically provide steady dividend yields, and the gains they could bring to India will be unique in the way of adding credibility to the country’s real estate investment market. Further, these will enhance the transparency and governance of the property market reports Fortune. Foreign funds have increasingly invested into class A office, retail and logistics properties at attractive entry price points.
India will introduce legislation for infrastructure investment trusts (InvITs) where the securities focus investments on infrastructure assets, such as toll roads and airports. A functioning InvIT market is complementary to a successful REIT market.
December 17, 2016 No Comments
India’s first Mega Transshipment Container Terminal at Vizhinjam, in the western state of Kerala will be developed by privately-owned Adani Ports and the Government of Kerala. Being built at a cost of $1 billion, the port is scheduled to be operational in 2018.
Vizhinjam is located 10-12 nautical miles from the busy Persian Gulf – Malacca shipping lane which accounts for almost a third of global shipping traffic. The port has a natural depth of 60 -65 feet that will enable efficient handling of mother vessels. The site also has the advantage of minimal littoral drift, resulting in minimal siltation and therefore limited maintenance dredging.
“The port can attract a large share of the container transshipment traffic destined for, or originating from India which is now being diverted primarily through Colombo, Singapore and Dubai,” said an Adani Group executive who declined to be named. Additionally, the port will have dedicated berths for India’s navy and coastguard, according to a government note seen by Reuters.
India’s Shipping Ministry disclosed to Reuters that India wanted its ports to excel in parameters such as “turnaround time, efficiency, last-mile connectivity, and infrastructure” in the same way other good ports of the world did.
Modi’s government expects cargo traffic at its ports to jump by two-thirds by 2021 as India ramps up exports of goods including cars and other machinery, reports Fortune.
August 2, 2016 No Comments
French Multinational Corporation, Saint-Gobain, opened its new cross-functional research center, Saint-Gobain Research India (SGRI), in Chennai, in the eastern state of Tamil Nadu.
Located on the campus of Indian Institute of Technology Madras, in Chennai, spread over 2.7 acre , and built at an investment of $29.5 million (€26million), the new R&D center will be focused on finding innovative and sustainable solutions for a variety of businesses (abrasives, glass, gypsum, ceramics and plastics). It will specifically work on developing various solutions for living comfortably in buildings in hot and humid climates.
The center will support businesses already located in India to accelerate Saint-Gobain’s growth in the region. SGRI is committed to finding innovative solutions to the challenges of energy efficiency, environmental protection and enhanced comfort for daily living. By developing cross functional competencies, in close cooperation with the group’s other large research centers, and by establishing partnerships with the Indian academic world, SGRI will also pave the way for new Saint-Gobain developments in the country.
April 13, 2016 No Comments
California-based Cisco Systems Inc., and Colorado-based global engineering firm CH2M have announced a new global strategic alliance to provide urban planning, design and smart technology integration and delivery services for their first project in India, reports CNN Money. Their first integrated delivery will be to Shendra-Bidkin an industrial smart city being developed along India’s Delhi-Mumbai Industrial Corridor. Shendra Bidkin is located in the Aurangabad District (where the caves of Ajanta and Ellora are a popular tourist attraction) in the state of Maharashtra.
CH2M will serve as program manager for building phase 1 of Shendra-Bidkin and will develop the Master System Integration Plan while CH2M’s role includes managing development of physical infrastructure (including buildings, roads, water systems, and energy) and an exhibition and convention center.
“India has entered a new era of smart city industrial development. The Delhi-Mumbai Industrial Corridor Development Corporation and the Maharashtra Industrial Development Corporation have joined hands to build Shendra-Bidkin Industrial Area (SBIA) as a state-of-the-art smart city based on principles of sustainability. Ideally situated within Delhi-Mumbai Industrial Corridor, Shendra-Bidkin Industrial Area will showcase Maharashtra’s leading manufacturing industries and will be home to many of the world’s leading corporations. SBIA will join other world-class developments as one of India’s first smart and master planned industrial cities that will contribute towards creating an ecosystem for the ‘Make In India’ and ‘Make in Maharashtra’ campaigns to help the country and the state become a new economic force and achieve long-term sustainable growth,” said Apurva Chandra, IAS, Principal Secretary (Industries), Government of Maharashtra.
November 22, 2015 No Comments
Los Angeles-based property consultant CBRE expects the supply of retail space for luxury brands in India to double in the next three to four years. Vivek Kaul, head of retail services India, CBRE South Asia said, “The existing stock of luxury retail space in the country is approximately a million square feet; while around two million square feet is expected to be built up in the next three-four years.”
The Economic Times notes that companies such as DLF, Reliance Industries, Phoenix Mills, the Mumbai-based Maker Group, and Shobha Developers have plans to create additional commercial buildings for retailers in Delhi, Mumbai, Chennai and Bangalore.
August 8, 2015 No Comments