March 10, 2008 – 12:47 am
BANGALORE: Ahead of the opening of Bangalore International Airport at Devanahalli, foremost real estate firm Sobha Developers on Saturday announced the commencement of their biggest single location project, Sobha Lifestyle, in the locality of the airport area. This project is located just 7 km from airpot.
J C Sharma, Managing Director, Shobha Developers Limited (SDL) told reporters that Sobha Lifestyle is also the biggest villa project by the company in the city. The project is spread over fifty five acres with 165 villas measuring 5000, 7000 and 10,000 sq feet
The project cost is expected to be around Rs 250-260 crore and also it is expected that it will be completed by end of 2010, since the land owned by Rennaissance Developers is being jointly developed by Rennaissance and Sobha, he said.
The villas, ranging from price points of Rs 3 to Rs 5.1 crore, would have state-of-the-art club house, gymnasium with sauna and jacuzzi, swimming pool etc. Other amenities include amphitheatre, tennis court, jogging track and CCTV for security.
February 25, 2008 – 3:27 am
According to the agency report India’s Nagarjuna Construction Company Limited is planning to enter real estate development in Oman.
A senior Nagarjuna Construction official said that “We have plans to develop a multi storied building in Sohar in partnership with an Omani company. The apartment, which will be constructed at a cost of OMR 3 million, will have a number of modern amenities, together with health club and swimming pool.” He added that the identical tower apartment, which will be ready by 2010, will have 448 flats each.
In the Oman, Nagarjuna Construction is building the dualisation and realignment of Al Amerat Quriyat Road, a water network scheme in Sohar and initial civil work for Sama Dubai’s Yitti residential cum resort project. With a cost of OMR 56.5 million, the 7.5 kilometer long Wadi Adai Al Amerat road will be completed within 18 months. The project involves construction of 6 bridges of varying lengths, 9 box culverts and 1 single lane bridge. The total contract value of all Omani projects of Nagarjuna is around OMR 180 million.
February 20, 2008 – 5:34 am
Indian fund manager Primary Real Estate Advisors is planning to launch a fund worth as much as $500 million, probably in the second half of this year, but said it will tread carefully as the country’s property boom stutters.
Foreign investors have taken advantage of such funds to rush into property development in India since it eased rules on inward investment in the construction industry in early 2005, sparking rampant land speculation and a near quadrupling in prices.
But despite signs of a slowdown — home sales volumes have fallen by one-fifth in Mumbai and 40 % in Bangalore in the last year — the head of Primary Real Estate, Ashwin Ramesh, is convinced that North American and European investors will invest.
“We would typically underperform in a raging bull market but overperform in a flattish market.”
Ramesh expected to launch the new fund within six months to a year, and hoped to raise between $300 million and $500 million.
“At the moment there’s interest in North America and London, but we’re in touch with people all over the place,” he said, adding that he was busy expanding a team that is now investing a $32 million fund closed in mid-2007.
Primary Real Estate would aim for internal rates of return of 15 to 20 percent, Ramesh said, below the usual 20 to 25 percent often advertised by funds in Asia’s up-and-coming property markets of India, China and Vietnam.
February 5, 2008 – 7:13 am
SmartCity is the result of JV (joint venture) of two companies. It is promoted by TECOM Investment and SAMA Dubai. Main goal of this joint venture is to build up and administer the Knowledge Industry Townships in whole world. TECOM is contributing its specialized skill in creation and management of knowledge based industry clusters, while SAMA Dubai is investing its strength in real estate development in the international market to create an infrastructure and environment catered to the requirements of knowledge based companies and knowledge workers in this joint venture.
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February 1, 2008 – 8:07 am
Parsvnath Developers Limited is the most diversified and widespread real estate developer in India. It has 115 continuing projects with a developable area of over 191 mn sq.ft. Parsvnath Developers has been in the market for more than 20 yrs.
On Jan 02, 2008, Parsvnath Developers has declared that the Company has got LoI from Director Town and country planning Haryana to develop an IT Park project on Main Gurgaon, Sohna Road just 3 kilo meters away from Rajiv Chowk, Gurgaon. Approx Rs 650 crore is expected as a profit from this project within two financial years. The project is expected to start within three months and will be completed within 2 years. Parsvnath Developers already has one IT Park in Chennai.
On Dec 28, 2007, Parsvnath Developers Ltd has announced that the Company has achieved the completion and possession certificate from NOIDA Authority for its Group Housing project at Noida, Parsvnath Prestige for the second phase.
On Dec 27, 2007, Parsvnath Developers Ltd has declared the beginning of its premium commercial project in the city of Raipura, Punjab. The project is named as Parsvnath Highway Mall. The project is in particular designed to offer commercial space to house large format stores showcasing range of aspiration brands to customers and will have a total saleable area of approximately 2.30 lac sq. ft.
