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Property trusts may soon debut in India

Move will encourage foreign real estate funds to partake in construction boom (HONG KONG) India could follow other Asian countries this year in creating a market for real estate investment trusts (Reits), making it easier for investors to buy into the country’s sparkling new office blocks and shopping malls. The move would encourage foreign property […]

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Indian property trust poised to launch $1.7b IPO in S’pore

INDIA’S fourth-largest realty company by market value is going ahead with its plan to launch a potentially huge initial public offering (IPO) for its Indiabulls Properties Investment Trust in Singapore. Reports in India suggest that the IPO by Indiabulls Real Estate Ltd could be worth a whopping US$1.2 billion (S$1.7 billion), which would make it […]

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Emaar’s India unit in IPO to tap US$1.8b

Proceeds will be used to buy land, development rights, pay for construction (MUMBAI) Dubai’s Emaar Properties hopes to raise up to US$1.8 billion from an initial public offering of a unit in India, where IPOs are forecast to more than double this year despite choppy markets in the wake of the US subprime mortgage crisis. […]

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Keppel Land markets India projects here

The company is also looking to expand to other Indian cities (SINGAPORE) Keppel Land is looking to sell its residential properties in India to Indians based in Singapore, the developer told BT. ‘In Singapore we see a growing non-resident Indian (NRI) market,’ said Ang Wee Gee, KepLand’s director of regional investments. ‘In the past we […]

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India’s growth slips to 8.9% in Q2

Central bank may end 3 years of interest rate hikes on slowdown in expansion (NEW DELHI) India’s economy grew last quarter at the slowest pace since 2006, signalling the central bank may soon end three years of inflation-fighting rate increases. Asia’s third-largest economy expanded 8.9 per cent in the three months to Sept 30 from […]

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IPO lifts Indian property baron’s fortune by $6.3b

Shares of Mundra Port & SEZ more than double on debut on back of infrastructure boom MUMBAI – INDIAN property magnate Gautam Adani has just added US$4.4 billion (S$6.34 billion) to his personal fortune. His company, Mundra Port & Special Economic Zone (SEZ), more than doubled on its first trading day in Mumbai, boosting the […]

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India’s retail rents rank 16th most expensive

Khan Market in New Delhi the most costly at 950 rupees psf a month IN NEW DELHI INDIA has been ranked the 16th most expensive global retail ‘high street destination’ by a prominent real estate consultant. According to the report Main Streets Across the World 2007 by Cushman & Wakefield, Khan Market, located near the […]

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CapitaLand sets up $880m India property fund

CAPITALAND, South-east Asia’s biggest developer, yesterday said that it has successfully established its first India private property fund with a fund size of $880 million. The company first announced the fund – CapitaRetail India Development Fund – in July. The closed-end private fund has the mandate to invest in retail mall developments in India. CapitaLand […]

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Dubai developer Damac to invest US$5b in India

It will build houses, offices, shops in Mumbai, New Delhi, Hyderabad, Bangalore (MUMBAI) Damac Properties, a closely held developer based in Dubai, plans to invest as much as US$5 billion in India over the next three years as a booming economy spurs demand for real estate. The developer will construct houses, offices and shops in […]

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JLL sees Asia as safe haven amid sub-prime debris

Region could benefit as investors reallocate funds from US, Europe (LONDON) Asia provides a ‘safe haven’ for property investors as returns decline on US and European assets because of sub-prime mortgage losses, said commercial real estate broker Jones Lang LaSalle. ‘The region could be a beneficiary of the fallout as investors reallocate funds from the […]

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HSBC raises US$1.5b for fund, eyes Indian realty

(MUMBAI) Hongkong and Shanghai Banking Corp (HSBC), which recently raised US$1.5 billion, aims to invest 40 per cent of that in Indian realty, the Business Standard reported yesterday. This is in addition to its growth fund investments of about US$600 million in India, it said. ‘At the Asia PE (private equity) fund level, we have […]

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Global property investment expected to fall

Mortgage defaults in US may prompt lenders to tighten credit, says JLL (TOKYO) Global direct real estate investment may fall this year as concerns about defaults on US mortgages prompted lenders to tighten credit, said Jones Lang LaSalle Inc, the world’s second-largest commercial real estate broker. Asia may be the only market to experience an […]

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ICICI Venture to float US$2 billion real estate fund

Fund will have 10-year tenure, with money invested within three years (NEW DELHI) ICICI Venture Funds Management Ltd is floating a US$2 billion real estate fund – the largest in the country – according to a report in Business Standard. The fund, which will be launched next month, will have a tenure of ten years […]

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World’s wealthy still eyeing property

They are undeterred by the market turmoil triggered by the US sub-prime crisis (GENEVA) The wealthy have lost none of their appetite for property despite the market turmoil triggered by the sale of risky sub-prime mortgages in the US, according to some of the world’s top private bankers. Clients of wealth managers are, however, on […]

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Citigroup buys stake in Nitesh Estates: report

(MUMBAI) Citigroup will pay around US$250 million for a minority stake in Indian real estate firm Nitesh Estates, the Economic Times said yesterday. The deal would see Citigroup partner privately owned Nitesh in the Indian firm’s hospitality venture, which involves setting up at least five luxury hotels and possibly malls also, the newspaper said, citing […]

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WORLD HOUSING MARKETS – Bubble trouble

By Robert J. Shiller THE future of the housing boom, together with the possible financial repercussions of a substantial price decline in the coming years, is a matter of mounting concern among governments around the world. I learnt this first-hand while attending this year’s Jackson Hole Symposium in the remote wilderness of Wyoming where, ironically, […]

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Plaza Centers to invest 50b rupees in India

Israeli group will build entertainment, commercial centres (MUMBAI) Israeli-owned property company Plaza Centers said yesterday that it would invest 50 billion rupees (S$1.87 billion) over the next 5-7 years to build entertainment and commercial centres in fast-growing India. Plaza Centers, a subsidiary of Elbit Medical Imaging Ltd, will build 50 malls and multiplexes in Indian […]

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Indian developers eye mass market as prices fall

Property stocks depressed on worries about housing market (MUMBAI/HONG KONG) After a two-year surge, home prices in India have dropped as much as 20 per cent because even the most upwardly mobile tech graduates can no longer afford to buy, forcing developers to consider building for the poorer masses. ‘We’re at a point where growth […]

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Sub-prime market is thriving in India

Estimated US$10-11b market for unsecured credit growing at 25-30% (NEW DELHI) Like the US, India too has a sub-prime market and it is booming. The success of early entrants like Citi Financial and GE Money has encouraged several others to enter the consumer lending business – nearly half of which is a sub-prime market, says […]

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Ascendas sets up $500m fund for Indian properties

Business park group’s first development fund will have a target asset size of $1 billion BUSINESS park developer Ascendas yesterday launched a $500 million fund to invest in property development projects in India. Called Ascendas India Development Trust, Ascendas’s first development fund has a target asset size of $1 billion. This follows its $250 million […]

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