There's pent-up demand for half a million homes in the sector, says BPTP BPTP Ltd, an Indian developer backed by Citigroup Inc and JPMorgan Chase & Co, aims to tap demand for housing from India's middle class, managing director Kabul Chawla said here yesterday. The nation has a pent-up demand for half a million homes in the mid-tier segment, where houses cost two million rupees (S$61,584) to six...
India Property
Frasers Hospitality has signed a contract to manage its first Fraser Suites property in India's capital, New Delhi. The nine-storey, 90-unit Fraser Suites New Delhi is scheduled to open in October next year. The company said the property has an ecological design, aimed at optimising the use of solar energy for lighting, heating and electricity generation. Situated in the Mayur Vihar area, it is part of...
Real estate developers in India think the worst may be over as property prices stabilise. Buyers are also returning, encouraged by the government's decision to provide cheaper home loans. India's real estate sector is showing its first signs of stability after a free fall that started last year. A series of interest rate cuts on home loans and a revival in optimism have encouraged developers to start new...
Frasers Hospitality has signed agreements to manage its first three properties in India. The first is a 50-unit serviced residence which will open in June next year, near Bangalore's new international airport. The second is a 153-unit serviced residence near the Bangalore IT Park. Both properties are owned by the Skyline Group. Under a third contract, Frasers will manage 99 serviced apartments for the...
Frasers Hospitality - the property arm of mainboard-listed Fraser & Neave - is planning to grow its presence in the emerging markets of China, India and Vietnam. Revealing this at a news briefing on Thursday, Frasers said it plans to add about 5,000 serviced apartment units to its portfolio over the next two years. It is scheduled to open 10 new properties this year, and another 25 over 2009 and...
CapitaLand said land prices in Vietnam and India have fallen by as much as 15 per cent this year, making it easier to get sites now than a year earlier. There may be more opportunities in “greenfield sites”, chief investment office Kee Teck Koon said at a property conference held here yesterday. CapitaLand is also looking at expanding in Japan, where it may acquire properties and set up funds for...
Emerging markets are a part of its expansion plan Frasers Hospitality, Asia’s second-biggest serviced-apartment operator behind CapitaLand’s Ascott Group, is in talks to set up private equity funds to invest in China, India and South-east Asia after delaying its planned share sale. The company, which expanded its portfolio eight-fold to 3,287 apartment units in the past decade, is raising funds for...
CapitaLand has acquired a prime 30-acre site to build its first IT park and a grade-A office complex in India. The deal was done through its 49 percent-owned associate LOMA IT Park Developers. The site was purchased at a price of S$79 million from Standard Industries, a company listed on the Bombay Stock Exchange and the National Stock Exchange of India. It is located in the Trans Thana Creek industrial...
CapitaLand is investing over S$1 billion in 15 malls across India through two joint ventures with Indian companies. The venture will be fully funded by the CapitaRetail India Development Fund, which is 45 per cent owned by CapitaLand. CapitaLand said it plans to duplicate its China strategy in India, which is to focus first on the gateway cities, including Mumbai, New Delhi and Bangalore, and then...