JONES LANG LASALLE ACQUIRES CHURSTON HEARD, THE UK’S LEADING INDEPENDENT RETAIL CONSULTANT

Boosting its retail business in the UK

London, 10 July 2008 – Jones Lang LaSalle has announced that it is to acquire Churston Heard, the UK’s leading independent retail consultancy. Churston Heard employs 80 people and offers a full range of retail services including agency, town centre and out-of-town retail; rent reviews; management; investment, development and shopping centre management.

Alastair Hughes, CEO EMEA at Jones Lang LaSalle said: “This acquisition will further strengthen our business and improve our ability to advise clients on retail property in the UK. UK clients are looking for excellent local market knowledge within a first class international business – this acquisition will provide exactly that.”

“This is part of our strategy to strengthen our retail business across Europe. We will now be a market leader in the UK as well as Germany, Central & Eastern Europe, Russia and many other European markets.”

Churston Heard was established in 1969 and has an excellent reputation, providing a full range of consultancy services to an impressive client list of retailers, developers, institutions and funds. The combined strength of the two firms will see Jones Lang LaSalle’s shopping centre instructions increase to 110 and dedicated retail specialists rise to 150.

The new management structure will comprise Chris Powell as Chairman of Retail, EMEA; Guy Grainger will take on the role of Head of Retail Agency in the UK, working alongside Stuart La Frenais, Damian Sumner and Paul Marshall. Robin Coady will chair and jointly run the expanded UK Retail Capital Markets team with Adrian Peachey. Tim Vallance will lead the Out of Town team and Stephen Mahon will become the Head of Asset and Professional Advisory.
Chris Powell, from Churston Heard said: “We see Jones Lang LaSalle as a complementary fit to our culture, which is built on client service, market intelligence and expertise. It increases our reach and market share in the UK and drives our business forward across the continent. It will also provide new and exciting opportunities for our people.”

The deal, which will be concluded next week, will see Jones Lang LaSalle finance the acquisition through phased cash payments based on time and performance. The 80 Churston Heard employees will move into the Jones Lang LaSalle offices in Hanover Square in September.

Stuart La Frenais, Head of Retail Agency at Jones Lang La Salle commented: “It is well known that we have been looking to strengthen our retail business and Churston Heard has been top of our priority list for sometime. The structure of their business fits ideally with ours with their areas of strength complementing ours. Having worked at Churston Heard for several years I know a number of individuals well and know that the fit between our teams will be fantastic. I personally look forward to working with Guy again, together with the rest of the retail team at Churston Heard”.

“The combined business will focus on the UK and will also have a dedicated European retail team based in the UK which will co-ordinate with our strong European network of offices, covering 25 countries, to provide a seamless service for both our landlord and retailer clients.”

Guy Grainger, Head of Retail at Churston Heard added: “This provides our team with the ideal platform to apply our experience and skills to a wider network of clients, without huge disruption – we are a very good fit. Our retail intelligence will enable Jones Lang LaSalle and Churston Heard to create one of the largest and most experienced retail advisory services in Europe.”

Contact: Charlotte Freeman
Phone: 020 7399 5616

Email: Charlotte.freeman@eu.jll.com
Reference: NR3624

Contributed By : Arun Chitnis

From the CEO's desk

We have decided to include this particular address from Minal on our blog because it's special and close to our heart. This time's "From the CEO's desk' newsletter from Minal to the members was to thank them for the overwelhming response to our unique initiative of a Virtual Exhibition for CREDAI Karnataka. As many of you will be aware, CREDAI Karnataka and PropertyMixer joined hands for the first time to launch a unique Virtual Exhibition (or VExpo) initiative for the Realty Expo held by the former in Singapore during 28-29th June 2008.

The idea being to present a complete replica virtual counterpart of a physical exhibition held for promoting Bangalore & Chennai properties in Singapore. The straightforward benefits

1. Sit anywhere and visit a Real Estate Exhibition by premium developers from Bangalore
2. Search for all properties on offer during the exhibition
3. All properties mapped according to price range on interactive maps for quicker selections
4. Shortlist and compare properties based on information provided in the Virtual Stalls by each developer
5. Maintain touch directly with developers
6. Be where you cannot travel to and get access to all promotional offers by developers duing the period of the exhibition

This exhibition was a sample, to include only 2 properties per developer but looking at the immense sucess and the great feedback received for the initiative, it is poised to become a regular with many leading Real Estate Exhibitions.

For those of you who have missed the opportunity, we have still retained a bit of the exhibition at http://VExpo.PropertyMixer.com as a part our research to make it better and you are more than welcome to use your PropertyMixer credentials to logon and explore the same.

In case you find it interesting, don’t forget to use the "invite friends" feature on there and get others looking for property investments in Bangalore, Chennai, Hyderabad & Cochin to see it. In case of any further clarifications or details required, use the enquiry forms provided to directly get in touch with the developer.

For those of you who would like to know more about participation in our virtual exhibitions and all other queries, please address them to admin@propertymixer.com

83 per cent of Multi-Nationals in Asia Pacific Increasing or Maintaining Growth Plans in 2008

Jones Lang LaSalle Survey: 83 per cent of Multi-Nationals in Asia Pacific Increasing or Maintaining Growth Plans in 2008 India, China and Vietnam Remain the Top Three Destinations

India, 24 June 2008 – According to a Jones Lang LaSalle survey released today, 83 per cent of multi-national companies polled said that they will increase or maintain current growth plans in Asia Pacific. In fact, 28 per cent are responding to the gloomy global economic situation by looking to accelerate the growth of their operations in the region.

Jones Lang LaSalle’s survey also shows that India, China and Vietnam remained the top destinations for company growth plans in the region in 2008.

The report highlights that there are some key evolutionary changes occurring in the region’s economies, as individual nations continue to mature and attract higher value operations. These changes have a long-term impact on demand in the local property markets. For instance, in India, China and Vietnam, rising middle class incomes are driving growth for more banking retail outlets. Furthermore, China and India, once known for their low cost workforces, are, in some cases, losing factory jobs to other countries, but still enjoying significant net growth, as their increasing per capita incomes and advancing skills are attracting increasingly sophisticated activities.

Jones Lang LaSalle’s CEO of Regional Business Lines and Corporate Solutions, John Forrest, says that the survey shows how business in Asia remains less affected by the sub-prime crisis. “As the leading supplier of real estate services to corporations in Asia Pacific, we are still seeing strong demand for space. However, an uncertain economic environment is forcing corporations to find smarter ways to manage their growth. For example, many are outsourcing the management of their real estate or re-designing current office space to be more efficient.”

Jones Lang LaSalle, a professional services firm specializing in real estate, conducted a survey of 30 senior corporate real estate executives from leading multinational companies active in Asia Pacific in the second quarter of 2008. Findings from the survey are presented in the firm’s research paper, Gauging Demand, which focuses on how occupier demand for office and industrial space in Asia Pacific is being affected by global economic turmoil.

Strategies Differ by Industry Sector
Three sectors were surveyed, Financial Services, Technology and Manufacturing/Consumer Goods. Of the three, Financial Services predicts the most aggressive growth in 2008, with 44 per cent having added more growth to their original plans in the first quarter of the year, and 33 per cent predicting further growth by the end of the year. Even though this sector is showing the most aggressive growth of the three sectors some companies remain cautious with 44 per cent expecting to scale back in 2008. This is, in part, a reflection of the differing degree of exposure to sub-prime suffered by the banks – some emerged unscathed while others faced huge write-downs.

Where 44 per cent of Financial Services companies are expecting to scale back during the year, it is Manufacturing/Consumer Goods companies that are showing the most mixed response. The companies polled were split evenly, with a third looking to further expand their growth plans, a third to scale back and a third expects no change to current plans. Companies in this sector are also more likely to shift operations into or within the region, as they look for fresh markets and lower-cost destinations.

The most consistent of the three sectors is Technology. On average the majority, 83 per cent, are ramping up or maintaining current growth plans in the region in 2008 in response to the current economic climate. The reason cited by those surveyed lies in the search for greater revenues driven by the migration of their client base to Asia Pacific. Even though there are growth plans, cost containment remains a key driver for their real estate strategy.

Jones Lang LaSalle Meghraj India CEO, Vincent Lottefier, says "Different industry sectors are responding to the economic environment in markedly different ways, with traits that have significant implications for the markets in which they are major players. India still remains overwhelmingly the focal points of most new growth, easily outpacing the rest of the field."
Forrest comments that, “Even the financial sector, which has been the hardest hit in other regions, is not contracting on an overall basis. Emerging markets in Asia really are the world’s bright spot for growth at the moment.”

Contributed By : Arun Chitnis

MAHARASHTRA – REAL ESTATE SNAPSHOT

by Anuj Puri, Chairman & Country Head, Jones Lang Lasalle Meghraj:

In India, as in other parts of the world, the vigour of the economy is mirrored in the demand for and prices of real estate. Reserve bank of India has estimated that the real estate sector represents approximately 5% of GDP, being the second largest employer in the nation. Real estate can thus provide a glimpse into the marketability of a state.

To my reckoning, Maharashtra represents in this regard a unique market model – it is an amalgam of high business and, as a result, intense residential and commercial real estate activity. In fact, its operative trends are so firmly entrenched that we have not witnessed any significant slackening in overall activity despite the economic pressures affecting many other Indian states. However, there is no denying that there has been an impact. The cities of Mumbai, Pune and Nasik would serve as suitable illustrators for the current scenario.

In Mumbai, affordable housing has become an elusive dream. Skyrocketing rate appreciation brought on by the continuing demand-supply mismatch has boosted residential home prices almost completely out of the reach of the common man. It is definitely not an investor's market right now, owing to the generalized slowdown. Prices are stagnating and there may be a correction in certain locations over the next twelve months. Of course, factors like specific location sector and property typology will play a role. End users are advised to study property trends before buying a home for genuine self-use. It is possible that the area they have chosen to buy into may see a drop in rates over the next six months to a year. Meanwhile, Navi Mumbai – the new growth sector – offers options both for those seeking affordable homes and those who seek investment opportunities.

Pune benefited for a considerable period from Mumbai’s unrealistic. The recession in the American markets has weakened the commercial and residential markets. The slump in the stock market has caused investors to start moving out. Second home buyers are keeping away and end users are cautious in their buying, awaiting price corrections. Despite the generalized slowdown, developers continue to have holding capacity and there continues to be demand for mid-segment homes, 80% of which is Pune is driven by software professionals and recently relocated manufacturing sector executives. The highest demand is in and around Hinjewadi, Kharadi, Magarpatta, in and around SP Infocity and in and around Phursungi and Hadapsar.

Nasik, whose residential market grew at a rather leisurely pace until about 2006, suddenly began showing significant annual appreciation rates from the beginning of last year. Nasik had begun emerging as a realistic alternative destination for buyers who were discouraged by Mumbai and Pune’s high rates. It offered low entry costs and, at the same time, reasonably attractive appreciation rates. Another reason was the increasing presence of the IT/ITES sector there. In recent times, Nasik has been witnessing rather healthy appreciation rates; because of its relatively late entry into the real estate stakes, it was insulated from the regressive dynamics currently prevalent in the rest of Maharashtra.

Despite the slowdown, Maharashtra remains one of the foremost contenders in the real estate sweepstakes. All sectors – residential, commercial, retail, industrial and hospitality –continue to show an upward curve in the long term.

Contributed By : Arun Chitnis

Initial Public Offering (Offer closes at 5 PM today 6 June 2008)

Initial Public Offering (Offer closes at 5 PM today 6 June 2008) - Indiabulls Properties Investment Trust - only the second Singapore property trust to offer exposure to India

Indiabulls Real Estate, part of diversified Indiabulls group with interests in financial services, power, retail and realty businesses, last week filed a prospectus with Monetary Authority of Singapore for an initial public offer of IPIT, estimated to raise about $300 million.
IPIT is a business trust registered under the laws of Singapore and is making an offer of its units to public and institutional investors and the IPO is expected to be priced towards the end of the month.

An investment arm of NRI billionaire Lakshmi Mittal family has already agreed to purchase 91 million shares in the trust at the IPO price, amounting to a 3.9 per cent stake

Key features:
· 262.5 million common units (subject to over allotment option)
· Sing$1.00 to Sing$1.10
· Offering is for 353.5 million shares
· Lead Managers Deutsche Bank and Merrill Lynch
· DPU of 5.12 cents per unit in forecast year 2009 and 9.82 cents per unit in the projection year 2010. This will signify increase of 92% in the dividend yield.
· Applicants may use cash only
· Applications can be made through DBS Bank (including POSB), OCBC or UOB Group

ATMs, internet banking websites of DBS Bank and UOB Bank or on printed application forms which form part of the Prospectus.

A copy of the prospectus is available on the SGX-ST website: http://www.sgx.com

IBREL is offering to sell about 353.5 million shares of IPIT in a price band of 1.0-1.1 Singapore dollar each, and in the projected price range, the IPO could mop up SGD 353-389 million (USD 259-286 million) for the company.

As per the time table for the IPO filed with the Singapore Stock Exchange that the price would be fixed today end after the offer closes at 5 PM and shares would commence trading on June 11

Key Investment Highlights
1. Premier office space trust offering exposure to the booming Indian economy and to the rapidly growing services sectors
2. Unique opportunity to invest in strategic Mumbai market, India’s premier commercial centre
3. Exposure to prime initial portfolio built and managed to international standards which will attract a quality tenant base
4. Strong growth model combining high organic growth potential and the Trustee-Manager’s three pronged acquisition strategy
5. Strong sponsorship and commitment from Indiabulls
6. Sponsor’s alignment of interest with that of Unitholders
7. Stable and growing distributions

Conclusion: This is the second Singapore property trust to offer exposure to India. The return on the investment ie Dividend yield of 9.82 % in 2010 and increasing thereafter is excellent. There is strong sponsorship and commitment from Indiabulls group which is the fourth largest real estate group in India by market capitalization.

The ROFR on the other properties of Indiabulls will provide an excellent return to the investors. So don’t miss this opportunity as today is the last day and the offer closes at 5 PM. Incase you need any further details, you can contact us at media@propertymixer.com

Jones Lang LaSalle Named to 2008’s “World’s Most Ethical Companies” List by the Ethisphere Institute at The Forbes, Ethisphere Joint-Conference

CHICAGO, 5 June 2008 – Jones Lang LaSalle Incorporated (NYSE: JLL) today reported that it has been named to The Ethisphere Institute’s second-annual World’s Most Ethical Companies list. Ethisphere, a think-tank dedicated to the research and promotion of profitable best practices in global governance, business ethics, compliance and corporate responsibility, announced the award at the Ethisphere and Forbes joint-conference, “Driving Profit through Ethical Leadership,” held on June 3rd. The list of World’s Most Ethical companies will also be featured in the Q2 issue of Ethisphere Magazine.

“We are very proud of this award,” says Colin Dyer, Chief Executive Officer of Jones Lang LaSalle. “It reflects the significant effort we make through our Ethics Everywhere(sm) Program to act with integrity in everything we do. Our clients, employees and shareholders expect and deserve nothing less.”

Researchers and analysts from The Ethisphere Institute reviewed several thousand companies in order to determine the finalists, which included a rigorous, multi-step evaluation process. The 2008 World’s Most Ethical Companies methodology committee is comprised of leading attorneys and government officials, professors and leaders who care about ethical and honest business practices.

“We applaud Jones Lang LaSalle, which is among the companies honored this year because they have developed impressive and meaningful ethical business practices, making them true standouts within their industries.” says Alexander Brigham, executive director of Ethisphere Institute. “They go well beyond legal minimums, opting instead to bring about innovative ideas that contribute to the public well being. By their actions, they are forcing their competitors to follow suit, or fall behind and truly embodying the notion that ethical business practices are more profitable.”

The extensive research process included reviewing over 10,000 of the world’s leading companies on six continents. Ethisphere analysts reviewed codes of ethics, litigation and regulatory infraction histories; evaluated investment in innovation and sustainable business practices; looked at companies’ activities to improve corporate citizenship; studied nominations from senior executives, industry peers, suppliers and customers; and worked with consumer action groups for feedback and rating.

The day-long conference, which featured Forbes editors and executives from world-renowned corporations, universities and ethics organizations, focused on ethical culture and leadership and highlighted companies’ experiences and ethical challenges, provided advice on preparing for ethical dilemmas and gave viewpoints from an investor’s perspective. The conference culminated with recognizing Ethisphere Magazine’s 2008 World’s Most Ethical Companies at an evening awards dinner.

About Ethisphere Institute

The research-based Ethisphere Institute and associated membership group, the Ethisphere Council, are supported by more than 100 institutions and corporations, including Thomson West, the Practising Law Institute, the National Association of Corporate Directors, the Global Reporting Initiative, Corpedia and dozens of others. The Institute is dedicated to the research, creation, and sharing of best practices in ethics, compliance, and corporate governance among its membership companies. It also focuses on the development and advancement of individuals on its membership council through increased efficiency, innovation, tools, mentoring, advice, and unique career opportunities. Ethisphere Magazine is the quarterly publication of the Institute. More information on membership can be found at http://www.ethisphere.com/.

The Ethisphere Institute publishes the globally-recognized annual World Most Ethical Companies Ranking™ as well as the Government Contractor Ethics Program Ranking™ and the upcoming Global Anti-Corruption Quotient.

Contributed By : Arun Chitnis

Investors who missed investing in Dubai during its early days...will they try out Abu Dhabi?

With the recent success of Cityscape Abu Dhabi, it is said that the emirate plans to invest Dhs1 trillion, or $270 billion, in new construction projects.

Abu Dhabi, which is just a 2 hrs drive from Dubai, which is the capital of the United Arab Emirates and the richest city in the world. The emirate's 420,000 citizens, who sit on one-tenth of the planet's oil and have almost $1 trillion invested abroad, are worth about $17 million apiece. (A million foreign workers don't share in the wealth) .

Abu Dhabi has been relatively slow in joining the global real estate boom, but now, with great investor interest and good public appetite for owning properties in the region, it is seen as one of the most upcoming investment destinations in the middle east.

The development pattern in Abu Dhabi is noticably similar to the inch to Dubai it is seen to follow the pattern of growth similar to that of Dubai by many. Attractive financing schemes are being offered to investors but yet, one thing that could decide the fate of investments in Abu Dhabi is that in the initial days, Dubai properties were priced on the lower side. Slowly when Dubai became a global hub for investments, coupled with a great government and infrastructural support, now Dubai properties are reasonably on the higher side. In contrast, for example, launched with prices from $2.2 million upwards which might be considered on the high side, although in a new real estate market this could be cheap for a luxury, Maldives-style location.

Currently, where Dubai properies are not really selling on a premium anymore, the growth of a similar opportunity Real Estate market right in the beighbourhood is more seeming like unwelcome competition for Dubai. Since both the emirates belong to UAE and with the growth of tremendous real estate in both these areas, which in Dubai's case have not only been successful in getting investors from Europe and accross the world but people have moved there to make it their home, it probably will do some good to Dubai too in the long run.

Now, it is yet to be seen if Abu Dhabi is able to attract similar interest from investors accross the globe and if investors who put their money comparing it to Dubai actually can makeup for the money they could create at some point by investing in Dubai. Only time will tell!

Contributed By : Pankaj Thukral

Al Qudra sells entire tower in 30 minutes at Cityscape Abu Dhabi

ABU DHABI – Al Qudra Real Estate (AQRE) sold out its Amber Tower within 30 minutes at the official sales launch at Cityscape Abu Dhabi. Amber Tower is the first high-rise building within the Shades development at Shams Abu Dhabi.

“Amber Tower is Al Qudra Real Estate’s first development targeting both UAE and expatriate endusers and investors,” said Claus Peter Rees, AQRE acting CEO. “Cityscape Abu Dhabi represents the perfect platform for a sales launch,” he added.

The Shades Project, which is strategically situated next to Shams Abu Dhabi’s central park and water canals, encompasses five residential towers. Amber Tower consists of 34 floors with studio, one, and twobedroom apartments.

The development will include many modern-day facilities, including fitness and entertainment areas, a day-care centre, a beauty salon and landscaped terraces, as well as a rooftop swimming pool and underground parking area.

The project was designed by one of Canada’s largest design and construction firms, the NORRGroup, and by the architects behind Dubai’s renowned Jumeirah Emirates Towers.
“Our focus lies in delivering premium services while ensuring that our investors receive a maximum return on their investments,” concluded Rees.

Jones Lang LaSalle acquisition of Kemper’s Group is finalised

Creating the leading retail real estate advisor in Germany

London, 19th May 2008 – Jones Lang LaSalle today announced the closure of its acquisition of Kemper’s Group in Germany, following the completion of all regulatory approvals. The acquisition of Germany’s leading retail property advisor makes Kemper’s Jones Lang LaSalle Retail Group (a wholly owned division of Jones Lang LaSalle Germany) the retail property market leader in Germany. The projected sales of the Kemper’s Jones Lang LaSalle Retail organisation for the full calendar year 2008 will amount to approximately 56 million Euros.
The Kemper’s Jones Lang LaSalle Retail Group has 220 employees in nine German locations operating across four business sectors: Retail Leasing, Retail Investment, Retail Management and Retail Advisory. The executive board of the Kemper’s Jones Lang LaSalle Retail Group will comprise Gerhard Kemper, Rüdiger Thräne and Jörg Ritter. Gerhard Kemper will also become the fourth member of the Management Board of Jones Lang LaSalle Germany.

Christian Ulbrich, CEO Jones Lang LaSalle Germany, commented: “Our acquisition of Kemper’s reflects the increasing globalisation of the real estate markets. Consolidation in the marketplace reflects the changing demands of the client base of occupiers, developers and investors, all of whom have an increasingly international outlook. Clients frequently require integrated ‘one-stop shop’ services from real estate consultancies and the Kemper’s Jones Lang LaSalle Retail Group is very well placed to provide these integrated services.”

Gerhard Kemper, of Kemper’s Jones Lang LaSalle Retail Group, added: “The merger has created even more competence, expertise and professional know-how than the two companies were able to provide individually. The combined forces of both companies mean we are now able to execute transactions of any scale in the retail sector in Germany.”

Following this acquisition, Jones Lang LaSalle Germany has a total headcount of over 750 employees. Europe-wide Jones Lang LaSalle has a total of 3,900 employees, 500 of them within the retail sector.

Contributed By : Arun Chitnis

Indiabulls Property Trust (IPIT) all set to list in Singapore

Real Estate trusts listed in Singapore have seen unfavorable markets during the past few months, following significant falls in share prices and hence companies opting for Initial Public Offers have rightly stayed away from the declining market. Surprisingly enough, Indiabulls Properties Investment Trust (IPIT) looks like it is set to launch an offering of about S$260 million ($190 million) within the next couple of weeks, following the start of pre-marketing at the end of last week, which means a saving grace for IPOs looking at the Singapore market in the near future.The listing vehicle for this IPO is sponsored Indiabulls Real Estate (IBRE), which is by India’s third largest property developer in terms of market capitalization, will be structured largely as a real estate investment trust (REIT) but will be listed as a business trust to give it greater flexibility with regard to how much of its portfolio can be made up of properties still under development. The initial portfolio will consist of two commercial property developments in the up-and-coming business & commercial district of Lower Parel in Mumbai, which was a former industrial region that used to house numerous textile mills like Pheonix Mills & Jupiter Mills, but is now a micro-market with high-end commercial and residential developments. All Residential as well as Commercial developments in the Lower Parel area, are premium because of lack of availability of good commercial space in Mumbai, high rental values and quality tenants, including banks, financial institutions and large corporations.


Indiabulls Properties Investment Trust (IPIT)’s developments – One Indiabulls Centre (which was formerly known as Jupiter Mills) and Elphinstone Mills are located within two IT parks in the area. When finished, the two combined will have 2.97 million square foot of lettable office space, 438,000 sq ft of retail space and 119,000 sq ft of residential housing. If successfully listed, IPIT will become only the second property trust in Singapore to be backed by Indian assets after Ascendas India Trust (a-iTrust) that listed in July last year, beating DLF and Unitech to the punch. DLF, Unitech and Indiabulls were all considering spinning off part of their property assets through the REIT route or business trust in Singapore around Feb this year, but the plans were postponed as the selling pressure on global equities intensified. At the time, DLF and Unitech were both aiming for significantly larger IPOs at up to $1.5 billion and $700 million, respectively.

It is a logical decision for IndiaBulls Real Estate to vouch for the early mover advantage in being the first to take on the still challenging market. Considering that a-iTrust is still down 30% from its highs from November, this move could prove to be both risky & smart, since the Singapore market is showing signs of recovering.

It is also said that Billionaire Lakshmi Mittal, the world's richest Indian, has committed to buy units equivalent to a 3.9 per cent stake in IPIT, which is in process of listing in Singapore.



Contributed By : Shivang Prabhakar

Mumbai to get Cybertecture office building says James Law

James Law Cybertecture revealed the plan to yet again innovate with his design and architectural skills, but this time, the venue is Mumbai. Yes, Mumbaikars, you are about to get an office building in the shape of an egg, right in the heart of Mumbai's central business district.

The project is a cybertecture office building that is aiming to bring together iconic architecture, environmental design, intelligent systems and new engineering, to create “the most innovative building for the city of Mumbai and for India in the 21st century,” according to the company’s founder James Law.
Law’s inspiration for the project comes from looking at the earth itself, and translating that into a sustainable ecosystem derived from an integrated and seamless application of cybertecture that evolves to give a building’s inhabitants the very best space to work in.

The symbolic ‘planet’ form is further stretched to cater for 15 levels of accommodation, housed in the egg-shaped building which is orientated and skewed at an angle to create both a strong visual language as well as to alleviate the solar gain of the building.

By using the egg shape, as opposed to a conventional building, there is up to 20 percent less surface area, with the unique design allowing for up to 30 metre spans of column-less floors.

Source: Cityscape Abu Dhabi Newsletter
For more information, please log on to http://www.cityscapeabudhabi.com.

Cityscape Extends To Friday By Royal Appointment

Release Date: Wednesday, May 14, 2008

In an unprecedented decision in the history of Cityscape exhibitions, the Government of Abu Dhabi has requested that the premier real estate development and investment event be extended by one day. Cityscape Abu Dhabi will remain open for an extra day, now concluding on the evening of Friday May 16th.

The exhibition was opened today at the Abu Dhabi National Exhibition Centre by HH Sheikh Mohammed bin Zayed Al Nayhan Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces.

Mark Goodchild, Project Manager, Cityscape Abu Dhabi said: “We received a formal request from the Abu Dhabi government that they would like us to extend the event by one more day. This is unprecedented for Cityscape, but considering the massive interest on the first day, it is hardly surprising. We’re delighted that the government should grant us such exceptional support and also that they recognise the importance of Cityscape for the development of Abu Dhabi and for many of the region’s exciting projects.”

To underscore the importance of the event as a showcase for the capital’s intricate planning, sustainable projects and investment transparency, His Highness General Sheikh Mohammed bin Zayed Al Nahyan Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces agreed to be patron of Cityscape Abu Dhabi for a second successive year.

In terms of ‘home-grown’ support, the Abu Dhabi government and locally-based real estate heavyweights have shown full support for the industry showcase. Major local developers such as Mubadala, Sorouh Real Estate, ALDAR Properties and Al Qudra Real Estate all have a significant presence.

Organisers IIR Middle East said that the show was sold out some months ago, with over 300 confirmed exhibitors covering more than 30,000 square metres of exhibition space.

Platinum sponsors of Cityscape Abu Dhabi include Mubadala, Aldar, Sorouh, Al Qudra, The Land Holding Company and Escan. Gold sponsors include Dubai World Central, Tameer and Saudi Oger, with Future Brand and East & West Properties taking silver status. The Department of Municipal Affairs of Abu Dhabi is associate sponsor, Urban Planning Council of Abu Dhabi is Strategic Planning Partner while HSBC is investment sponsor.

For more information, please log on to http://www.cityscapeabudhabi.com.

For more information, please contact:

Nathalie Visele
Director
Shamal Marketing Communications
Dubai, United Arab Emirates
Tel.: +9715 0457 6525
E-mail: nathalie@theshamalgroup.com

Destination of the Future for Mumbai Realty

With Booming commercial property development on LBS Marg and Neighboring locations like Ghatkopar, Vidyavihar, Powai / Connectivity to all suburbs, BKC, Eastern Express Highway, LBS MARG is becoming an hot destination for commercial property development. Since LBS Marg is centrally located and connected to all suburbs, it is becoming a more preferable destination for most of the corporates. It has got connectivity to major destinations like Bandra Kurla Complex, CST Road, Kalina, Eastern Express Highway, Jogeshwari Vikroli Link Road which helps people to drive down from Eastern Suburbs to Western suburbs, Powai - Sakivihar road which connects to Andheri and from Eastern Express Highway people can easily drive down to Airoli, Vashi, Ghatkopar, Chembur, Sion and towards town. Also, the first proposed METRO RAIL coming up from Versova-Ghatkopar Belt is one of the reasons for the major development. All the railway stations like Ghatkopar, Vikroli, Kanjurmarg, Bhandup, Mulund are at a walking distance near to LBS MARG.

• Demands from corporate sector mainly from IT, ITES, BPO’s / demand - supply position in the commercial property :-- Considering all the above factors, sectors like IT/ITES/BPO’s / FINANCE and BANKING/RESEARCH firms and even premium hotel players are eyeing the LBS Marg belt from Ghatkopar To Thane. Already players like WNS, Accenure, CapGemini, Wipro Spectramind, Prudential, Colgate Palmolive, HCC, CIPLA, Johnson and Johnson are located in this area and demand is still coming up for office space requirements from corporates. However, one of the major factor which attracts the demand at LBS Marg are the rates that are quite lower compared to Bandra Kurla Complex, where the lease rates are approximately Rs.300-400 per sq. ft. Those who are not able to match their requirement considering the availability of supply and rate factor at BKC, they switch over to LBS MARG where the rates are in the range of Rs. 60 to Rs.180 per sq. ft, which is still at the lower side compared to Bandra Kurla Complex. Currently there is a demand of more than 20 lakh sq. ft for office premises ranging from 5000 sq. ft till 2,00, 000 sq. ft each. However, there is a scarcity of commercial office premises for ready possession. Most of the constructions coming up are under construction phase. Total construction of around 60 lakh sq. ft is coming up at LBS MARG and connected to areas like Powai, Ghatkopar (East), Ghatkopar (West), Vidyavihar, Chembur.
  
• Projects coming up from well known developers:-- Considering the demands coming from all above players, most of the developers are coming up with development of commercial office space with state of the art amenities and malls on LBS MARG belt. Developers Like Runwal, K Raheja Construction, Hiranandani, Kohinoor Group, Nirmal and other private developers from Ghatkopar are coming up with large floor plates of commercial office premises / IT PARK / Malls to meet demand for these corporates.

Following are few of the projects coming up :

• Rates / Appreciation of property values in last 2 years and future prospect:- Rates in these location are ranging from Rs. 7500 per sq. ft to Rs. 18000 per sq. ft (Capital Value) and for lease it ranges from Rs.60 per sq. ft till Rs. 180 per sq. ft. There has been an appreciation in the capital value of property in last 2 years by more than 100%. Rates in same areas were around Rs. 4000 per sq. ft two years back. Analyzing the current growth scenario and demands coming up, prices are expected to rise further; we can see more and more companies having their corporate offices in LBS MARG and connected areas like Powai, Ghatkopar, Vidyavihar, Chembur.

Contributed By : Mehul Ved

JLLM - Anuj Puri's take on the Real Estate Sector

Anuj Puri, Chairman & Country Head, Jones Lang Lasalle Meghraj

What is the current situation in real estate markets?

There is overheating of prices in certain Northern regions, reduced liquidity among developers because of the credit crunch and a watch-and-wait stance among property buyers as they anticipate a blanket correction in the sector. The credit crunch and the US recession are not the only factors involved here. Interest rates have shot unrealistically high begin with. However, the current market dynamics notwithstanding, the property market in India will continue to thrive – albeit at a more realistic rate. Prices are stagnating, and we can reasonably expect a correction in certain areas over the next twelve months - depending on specific location sector and property typology. Meanwhile, demand for property in certain locations will continue undiminished due to the existing and upcoming market drivers there.

What are the opportunities and challenges for the Indian real estate sector now?

We do have a challenge situation on our hands, but it is one brought about by lack of faith and information. The origin of the challenge does not lie in foreign markets, but our own. Nor is the challenge anywhere as big as its is being made out to be. India is nowhere as vulnerable to fallout of the US recession as its is being fashionably assumed. The international credit rating agency Standard and Poor’s has clearly stated that India and China are in the category of ‘not vulnerable’ countries.

India is still among the biggest growth drivers. Foreign players will continue to invest in India and go slower on low-priority markets, especially the developed ones where investments take longer to pay off. There are, for instance, immense opportunities in Indian retail. The segment of India’s more affluent shoppers is 6 million strong – a segment that spends approximately $28.36 billion annually. India still maintains its ranking as the 5th most attractive of all emerging retail markets in the world.

Has the slowdown in market affected the real estate industry in terms of property sales?

There has been a slowdown in domestic transactions and we are indeed witnessing a correction, but this is brought on by the sharp 200-300% rise in property rates seen over the last two years. It is perfectly natural and expected that there would be an adjustment of such irrational growth. The sales volumes previously predicted for 2008 now need to be second-guessed. However, lack of growth does not equal a setback – only a period of stagnancy. Indian real estate continues to be a good risk diversifier that generates excellent risk-adjusted returns.

What are the issues the sector is currently facing in India?

Lack of infrastructure, lack of transparency and unrealistic rate inflations brought on by speculation in many geographies across all sectors come readily to mind. Thankfully, the Government has taken various proactive steps to curb inflation and to drive out speculative investment. Regulators and progressive incentivization schemes for townships and SEZs will help steer the boom in more constructive directions. We are also on the verge of seeing the introduction of REIT-style investment routes to funnel in additional and sustained foreign funds into the sector.

How could one express the current scenario in figures, and what do they mean?

There is an existing shortage of 25 million residential units. The residential sector will continue to be the driving force. Almost 91% of all real estate investments are in the residential sector. Approximtaley two million residential units admeasuring an average of 1,200 square feet will be constructed annually.

In the commercial sector, each year sees the development of approximately 60 million sq ft of office space. There has been a slowdown in absorption but no sign of increasing vacancies. In the retail context, over 300 shopping malls are under construction and will be operational by the end of 2008. Each year sees the development of approximately 25 million sq ft of retail space.

How can the sector be strengthened?

There is a clear need for schemes specifically designed to put in much-required infrastructure, and further incentivization of affordable housing projects to encourage developers to address the monumental demand for residential space from the middle class. The sector also needs the benefit of single-window clearance provisions for progress-oriented projects.


Contributed By : Arun Chitnis

JLLM - Impact of RBI's credit policy / Slowdown? / The Sector's Future

- by Anuj Puri, Chairman & Country Head, Jones Lang Lasalle Meghraj

IMPACT OF RBI'S CREDIT POLICY ON THE SECTOR

• Sentiments in the sector will continue to be muted, especially in the residential sector, which has seen the highest price appreciations and is the most sensitive to non-amenable lending norms.
• Major developers who are flush with private equity and IPO-based money, further bulwarked by pre-sale monies and land banks, will not be as seriously affected as smaller players. They will not offer substantially reduced rates as they have prolonged holding capacities.
• Some smaller development concerns who have projects under construction will have difficulties in bringing these to completion.
• Some developers in certain areas may sell their products at lower rates, or choose to sell to speculative investors in bulk, at marginally discounted rates.
• Many buyers who were in wait-and-watch mode may continue to postpone their intended property purchases.
• Residential developers will begin to look more seriously at incentivized formats such as townships, while office space developers will consider the SEZ option. The extension of the STPI scheme by one year is not significant enough to make much of an impact.

SLOWDOWN ON THE REAL ESTATE MARKET

• There has been a slowdown in domestic transactions because an amalgam of reasons - overheating of prices in certain Northern regions, reduced liquidity among developers because of the credit crunch and a watch-and-wait stance among property buyers as they anticipate a blanket correction in the sector. This cannot be attributed solely to the credit crunch and the US recession. Interest rates were inflated to begin with.
• Certainly, the previously hoped-for sales volumes for 2008 will not materialize. However, lack of growth does not equal a setback – only a period of stagnancy.

US SUBPRIME CRISIS / REDUCTION IN FOREIGN INVESTORS

• As of now, foreign investors affected by the economic adjustments in the West see India's strong economic fundamentals and the continued strength of the real estate market as a desirable investment alternative.
• Nevertheless, many of them are taking a more calculated approach now, opting to wait until the present market fluctuations have been resolved and the scheduled infrastructure enhancement projects are launched.
• India - and for that matter China - represent an economic scenario that has evolved separately and on very different parameters from the economies in most developed countries. It is an emerging economy, with an emerging and maturing real estate market. There will be a fall, but it will not be of a magnitude comparable to that of other countries.
• Foreign investors are now justifiably awaiting greater transparency and stability.

FUTURE PROSPECTS FOR THE SECTOR

• India continues to be a boom country, but the boom is now assuming the properties of a controlled and focused explosion rather than the free-for-all market mayhem it previously stood for.
• Prices are stagnating and there may be a correction in many areas over the next one year. This, again, is not a blanket evaluation, and factors like specific location sector and property typology will play a significant role.
• Certain locations and properties and properties will continue to be in great demand.

Contributed By : Arun Chitnis

Jones Lang LaSalle and Colonial First State Property Management Launch ‘Sandalwood’ in India

India Retail Witnesses Advent of Highly Specialized Mall and Asset Management Services

Jones Lang LaSalle and Colonial First State Property Management Launch ‘Sandalwood’ in India

Mumbai, 22 April 2008 - Riding on Asia’s robust retail growth and India’s unprecedented retail boom, Jones Lang LaSalle Incorporated (NYSE: JLL), and Colonial First State Property Management today announced a joint venture partnership to form Asia’s first integrated retail development and management service provider – Sandalwood. The 50:50 joint venture company will help Asian and Indian developers and retailers to capitalize on premium retail opportunities as well as creating long term value for retail assets.

Colonial First State Property Management is one of Australia’s largest full service property development, management and leasing specialists. Since its inception in 1983, the firm has undertaken more than 25 major shopping centre developments and now manages 36 centres on behalf of third party clients in every state of Australia, including iconic Chadstone Shopping Centre in Victoria, Chatswood Chase in Sydney and Queens Plaza in Brisbane.

India's retail sector is evolving at a swift pace and is set to grow by 35% by 2010. This growth has been fuelled by a strong economy, favourable demographics, rising wealth levels as well as rapidly changing lifestyles and consumer aspirations of an ever burgeoning middle class. The real estate sector has responded well to this retail growth. The total retail mall stock has been doubling every year, from a meagre one million sq ft in 2002 to a staggering 40 million sq ft in 2007 and an estimated 60 million sq ft by the end of 2008.

There are over 100 malls operating in India and more than 300 being developed and of this total, more than 90% have yet to achieve global benchmarks. In order to be globally successful, mall owners and developers in India need to focus on vision, scalability and processes and create a distinct proposition for themselves in this emerging market. Sandalwood, with its specialist property management skills and development expertise will ensure that retail owners and developers are strategically positioned for long term growth and success

Anuj Puri, Chairman and Country Head, Jones Lang LaSalle Meghraj says, “As retail in India grows at a rapid pace, this is indeed an opportune moment for us to introduce specialized retail and intensive asset management services. Sandalwood will seek to create long term value for India’s mall owners through its globally benchmarked practices, proven expertise in property development and intensive asset management.”

Darren Steinberg, Head of Colonial First State Property Management says, “Asian economies are amongst the fastest growing in the world with real GDP compound average growth of approximately 9% per annum over the last five years, and their retail management and property development markets have grown at a compound average growth rate of more than 20% in the same period. Colonial First State Property Management’s specialist retail property management skills enable property owners to receive the benefit of master planning and development expertise which is critical to ensuring assets are enhanced and strategically positioned for long-term growth and success."

Stewart Hutcheon has been appointed as the new Chief Executive Officer of Sandalwood Asia. Mr Hutcheon is well known and highly regarded by the retail management and property development community in Australia. His impressive career includes over 18 years experience in the retail property sector. His most recent appointment was as Director of Leasing and Deputy Managing Director of AMP Capital Shopping Centres Pty Ltd, with shopping centre assets under management of approximately A$9 billion. Prior to that, he spent over seven years at Westfield, Australia.

In India, Sandalwood’s operations will be spearheaded by Ms Gagan Singh, who has over 28 years of experience across the apparel, exports and hospitality sectors. In addition to performing her new role, she holds the position of Deputy CEO of Jones Lang LaSalle Meghraj.

Ms Singh says, “I am delighted to be heading up this new and exciting company. Sandalwood will draw upon global expertise and local knowledge to bring our clients’ visions to highly profitable retail environment that is based on strong differentiation for their retail assets. Sandalwood seeks to help create space not just to shop in, but to ‘live’ in.”

Mr Puri concludes, “We are excited by the opportunities that lie ahead for Sandalwood India. The retail business in India is growing and the pace is expected to accelerate. The market and business outlook is extremely positive and Sandalwood is well-positioned to be an industry leader in the active retail sector in India.”

About Jones Lang LaSalle

Jones Lang LaSalle (NYSE:JLL) is a professional services firm specializing in real estate. The firm offers integrated services delivered by expert teams worldwide to clients seeking increased value by owning, occupying or investing in real estate. With 2007 global revenue of USD 2.7 billion, Jones Lang LaSalle has approximately 170 offices worldwide and operates in more than 700 cities in 60 countries. The firm is an industry leader in property and corporate facility management services, with a global portfolio of approximately 1.2 billion square feet. LaSalle Investment Management, the company’s investment management business, is one of the world’s largest and most diverse in real estate with approximately USD 49.7 billion of assets under management. For further information, please visit our website, www.joneslanglasalle.com.

Jones Lang LaSalle has over 50 years of experience in Asia Pacific, with over 16,000 employees operating in more than 70 offices in 13 countries across the region.


About Jones Lang LaSalle Meghraj

Jones Lang LaSalle Meghraj, the Indian operations of Jones Lang LaSalle, is the premiere and largest real estate professional services firm in India. With an extensive geographic footprint across ten cities (Delhi, Mumbai, Bangalore, Pune, Chennai, Hyderabad, Kolkata, Kochi, Chandigarh and Coimbatore) and a staff strength of over 3300, the firm provides investors, developers, local corporates and multinational companies with a comprehensive range of services including research, consultancy, transactions, project and development services, integrated facility management, property management, capital markets, residential, hotels and retail advisory. For further information, please visit www.jllm.co.in

About Colonial First State Property Management

Established in 1983, Colonial First State Property Management (CFSPM), is today one of Australia’s largest full service property development, management and leasing specialists.
CFSPM has acquired more than two decades of intelligence on Australia’s retail property markets, with the iconic Chadstone Shopping Centre in Victoria remaining as one of its outstanding achievements. Since inception, CFSPM has undertaken more than 25 major shopping centre developments and now manages 36 centres on behalf of third party clients in every state of Australia.

As a member of Colonial First State Global Asset Management, the largest manager of Australian-sourced funds, CFSPM provides critical services to a range of assets held within Colonial First State Global Asset Management’s suite of listed and unlisted property funds and mandates. These services, covering the gamut of retail and office property requirements, are also provided to other third party clients outside the Colonial family of companies. Ultimately, CFSPM’s key point of difference in the market place is the fact it has 700 professionals on the ground at any given time. This means CFSPM is close to the issues at hand and able to react quickly and strategically in every situation.

CFSPM has expanded its capabilities beyond the retail sector and is steadily growing its operations in the office sector. The business is committed to growing both parts of the business. With a core focus on maximising investors’ returns on an asset by asset basis, CFSPM is a critical component of our property investment management offering.

Contributed By : Arun Chitnis

PROPERTY 2008 : The Largest Property Super Market

2nd April 2008

Property 2008 an exhibitive extravaganza is all set to become a one-stop destination for potential property buyers in Mumbai

Maharashtra Chamber of Housing Industry – MCHI’s Property 2008 – 12th Real Estate & Housing Finance exhibition will be held at the Bandra Kurla Complex, MMRDA Grounds, Opp. Citibank from 17th to 20th April 2008, from 11.00 am to 8.00 pm. The exhibition is organized by MCHI and co-organized by LIC Housing Finance & SBI. The Gold Partners are HDFC & ICICI & Silver Partners, DHFL & AXIS BANK.

Spread over an area of 25,000 sq. metres consisting 3 A/c halls, Property 2008 will have leading property developers and Housing Finance Institutions (HFI) participating from Mumbai, Navi Mumbai, Thane and rest of India along with International property developers.

Mr. Mayur Shah, Convenor, Exhibitions MCHI said, “This being home buying season, buyers want to settle in their new homes before school starts in June, this Property Exhibition will ideal opportunity to select property of choice & budget. As summer vacations commences many home buyers find this a perfect time to buy a new home and shift during the vacations as well.”
As many as a 100 + Real Estate Developers including Global Corporations and pan-India project-developers will be here to share the platform and negotiate interpersonally with around 1,00,000 buyers. In the Residential Property category, on display will be 1-5 BHK Flats, Duplex, Apartments, Penthouses, Bungalows, Row Houses and more. The Commercial Properties will display Retail outlets in Malls ,Multiplexes, Commercial Shops, Industrial Galas, Office Premises, Corporate Parks, IT Parks, SEZ. The Financial Products section, around 15 HFI’s & Banks, will offer spot home loans at competitive rates as well as home loan insurance.

The participants at this Mega Exhibition will display their properties from Mumbai, Thane, Navi Mumbai, Pune, Goa, Bangalore, Chennai, Delhi, Hyderabad, Kolkatta, Jaipur, Kochi, Lucknow, Nagpur, Nasik, Panchgani, Karjat, Neral, Sangli, Lonavala, Murbad etc. To add International color there would be participation from locations such as Dubai, Australia etc.

A JOB Fair again with a differenceThis time, Property 2008 will also play host to a unique 3rd Job Fair specially designed for the Real Estate Industry: The rapid growth in Retail and Infrastructure has created such an opportunity for specialization in quality manpower in the real estate industry that it will seek to provide professionals a well honed platform for growth and advancement in their respective careers. The Realty Industry will be looking at Professionals such as Designers Engineers Technical Experts Accounts Finance Customer Service Administration Purchase Management Marketing.

MCHI has constantly endeavored to bringing innovative ideas and concepts to the markets. Even globally, it is relied upon by the entire housing industry, in bringing together participants from India as well as abroad, giving it a clear edge in the minds and hearts of Mumbai’s home buying public.

Maharashtra Chamber of Housing Industry (MCHI)MCHI, formed in 1982 has now become the most prominent body of real estate builders and developers bringing together members dealing in real estate and construction industry on a common platform to address issues facing the industry. Members of MCHI account for providing more than 80% to 90% of residential accommodation in Mumbai and its vicinity, and helps both the Central and State governments in meeting their constitutional obligations – providing shelter to the shelter less. MCHI works towards raising awareness among the general public, real estate and construction industry while providing them with exhaustive information on projects and new developments in and around Mumbai. With over 400 well-recognized and reputed member builders, MCHI is affiliated with leading industry associations like FICCI, IMC and CREDAI.

Highlights of Property 2008

1. The only official and largest real estate exhibition of India being organised by the Official Real Estate Body MCHI.
2. 100 plus developers showcasing more than 1500 projects
3. 15 housing finance companies & banks participating
4. MCHI Job Fair being organised concurrently.
5. Exhibition covers an area of approx. 2,50,000 sq ft.
6. Over one lac footprints expected at the exhibition.
7. Air conditioned aisles, registration areas, coffee lounge, food courts & comfortable A/C business lounges for one to one discussion in the exhibition.
8. Free drinking water facility for visitors will be available.
9. Free shuttle buses running to and fro from venue and main railway stations, Bandra (E) & Kurla (W).
10. Ample Car Parking facilities with Valet Service.
11. Entry is free for the exhibition.
12. Legal advice on Real Estate & Home Loan counseling will also be given at no cost to the visitors.

For Further Information please contact Prakash Mondkar Sobhagya PR – Sobhagya Advertising ServiceHand Held – 9820669034Land – Line 22661286/22662979 Email- sobhagyapr@rediffmail.com


Contributed By : Minal Arora

Is buying home abroad a fashion or it really makes sense for an Indian?

Well, two years before when I moved from London to India, I always thought buying home in India was cheaper and made more sense and those who invest abroad mostly do it for flaunting…but two years living here and seeing the entire lifecycle of real estate development and growth, I am not so sure if its for the snob value alone that people are investing abroad.

During the last quarter of 2007, I did visit a few exhibitions in Delhi and Mumbai, where the most exotic real estate was showcased from across India with very fashionable tags attached to them. When I saw developers like DAMAC, Al Fara, Dubai Properties, Kuala Lumpur Metro Group and many other foreign developers wooing buyers in the Indian market to invest in Dubai and Malaysia, my first reaction was….nah…it isn’t going to work.

I thought Indians are traditionally not the people who would buy houses abroad, but I was most certainly wrong.

I actually have discussed this with executives from leading developers from these countries and found out that its pretty interesting but not only do their investments give better returns but it also comes coupled with lucrative bonuses like holidays, lucky draws to win cars, luxury apartments, sometimes maybe even jets.

Typically, Dubai, Malaysia and Singapore are the few attractive destinations where Indian residents are looking at investing or have been investing for a while now. Due to the slowdown in US and the falling property prices, a lot of US developers are seen moving to India…expecting to attract them to invest in various parts of US.

With Indian residents having the flexibility to invest $100,000 per head every year in foreign property, it makes a lot of sense for foreign developers to get to India since their investments now only offer better rental incomes but in Dubai and Malaysia they come with tax holiday on any money you make out of the property appreciation, which sure is a big bonus. Dubai goes one step further and offers a citizenship also on investing in a property there, which has proved to be a major plus when it comes to the Dubai based groups winning over the investment game.

Contributed By : Rahul Gandhi

Will a ‘firang’ broker be the one to sell u a home

At the last Cityscape Real Estate exhibition held in Mumbai, a stall of an IT SEJ in Hyderabad was 'manned' by a 'consultant' from the UK. He was sharp, knew what was happening not just in the project he was selling, but also trends in the city/state/India/SE Asia; was very clear about the legal issues involved, had finance details on his finger tips, was incredibly polite and courteous, and was 'aggressively helpful' in potential leasers' decision making. A visiting card meant three calls across the next month plus e-mails that were friendly, packed with information with polite requests to get back in case any other details were required. Vinod Thakkar, CEO of real estate firm Square Feet is at his Mulund office, recounting the experience. "Unless Indian real estate brokers wake up to the reality that they need to adapt to the changing times, such guys will take over the" broking function altogether," he muses. "Let us face the reality - these global consultants as of now are only at the tip of the pyramid - branded, high-end real estate. But they are moving to other segments of the pyramid and this is a wake-up call for all in Indian real estate marketing and sales," he points out. Thakkar has just completed a re-branding exercise of the various 'estate agency' offices his company controls. A training session currently aims at standardising the experience for a customer coming to any of his offices while an IT back up will make data sharing a reality – with prices updated being reflected in real time.

Thakkar says he's got miles to go - 'the scenario is changing, we have to be ready for today's customer with tomorrow's service levels'.

With global real estate agents operating in the Indian scenario, local builders will be able to easily market their products at better prices as these realty firms would be organised, 'presentable marketing agencies' on lines of HDFC Realty, which is already operational, says Venkatesh lyer of the Chembur-based Siddhivinayak Estates. "This may enhance the cost of property due to the involvement of global firms, but ultimately, these firms have to will rope in local small-time brokers to run the show," he feels.

Andheri-resident estate agent Rajesh Bijiani feels it is pertinent that the government of India should mandate a license for such 'global consultants' who intend to deal in real estate. This, he feels, will stop the proliferation of 'misleading businesses' in real estate sector. "Half a decade back, finding a real estate agent in the interior areas was nearly impossible. Now, there are dozens of local and foreign real estate consultants in all sorts of locations all over the country. Most operate without a license and many of those that have them do not operate in the manner as we would have thought a real estate agent would in the so-called 'first world countries'. With no proper control, it is every man for himself; wheeling and dealing for his own best interest, and not that of the seller or the buyer."

Branding is the future of Indian real estate, says Bakshi. "As we have seen in other industries in India, the market will move to the branded players. For examples, the coffee business transitioned from the Rs. 5 coffee seller on the road side, to the Café Coffee Days and Baristas. The grocery business moved from the neighbourhood 'bania' to Reliance Fresh and Big Bazaars. Why should it be any different in the realty management sector? Lakhs of independent players will morph into (say) a dozen branded players in the future. As in any other industry, branded players will cater to the mass consumers, while the more traditional brokers will cater to niche markets."'

Sangeet H Kumar is CEO, ACBD Global Asset Corp., a new set-up which covers more than just real estate deals - it looks at real estate as an asset class, for one. He's back from a 'hard-sell' visit to the UK and UAE, and he is hard at work getting responses across to potential buyers he’s met while in two countries. “Buyers expectation are similar, whether they are resident Indians buying real estate at home, NRIs or PIOs buying Indian real estate from an Indian realtor, or an Indian in a foreign country dealing with a global real estate firm in that country. Transparency in terms of details and information, safety and security of their investment and a professional way of working," he says.

"When one says a 'professional way of working', it basically means quick response to the customers' queries, and the replies should be correct and complete," says Gurpal Singh Sethi, real estate personality who's recently returned from brokering a hotel deal in Seychelles. It has been his work in a previous hotel deal in the UAE which got him the enquiry from Seychelles, but he is quite clear that clinching the assignment required him being conversant with 'global best practices'. He is brokering a deal which seeks to convert a slew of 'ready possession residential towers' into serviced apartments at Vikhroli, and says times are changing. "In India, almost all real estate business happens because of word-of-mouth publicity and referrals. It is mostly verbal communication that drives deals at home. When you deal with an international clientele, this does not work. You have to quote from research reports, give price trends over a time frame and generally be a research / analyst- cum-finance expert-cum-legal eagle at the very least, apart from being a real estate agent who follows 'global best practices'. Otherwise, you don't stand a ghost of a chance," he adds.

Realtor Ramprasad Padhi has been handling realty requirements of expatriates in Mumbai since the last few years and says that their initial mind-set is that Indian real estate is full of cheats. "You have to be a true 'realtor', show them that your work is as good as the realtor they deal with in, say, the USA or UK. Once the barriers are down, you have a customer who doesn't do any further deals without you," he adds. An MBA with online selling portals galore, Padhi, like Thakkar, Sangeet and Gurpal represents the new face of Indian real estate selling. "The phase when you had a 'paan walla' or a 'kirana' shop seller doubling up as a 'broker' is over," muses Padhi. "These days, buyers are savvy, have done their homework, know their fiscal options and expect professionalism from their 'consultants' and unless the Indian real estate selling set-up measures up to these expectations, it will lose customers to developers' direct sales set-ups and also to the new development of organised, global firms that are setting up shop in India," he smiles. "Global players coming in will only ensure all players in the Indian real estate's sales and marketing will shape up. Else, they will have to ship out," he concludes.

Published in: TIMES OF INDIA (PROPERTY PLUS ) Friday, March 28, 2008



Contributed By : Ramprasad Padhi
Pinnacle Realty (http://www.mumbaiproperties.com/) Suite # 24, Royal Tower, I.C.Colony, Borivli West, Mumbai 400 103 Board Nos: 2893 3333, 2892 5252, Cell : 9820 1515 00 Email : ram@pinnaclerealty.in

The first women only hotel opens in Riyadh

In the most conservative country in the world, where women are always kept in lock and key, safe from the eyes of other men, the kingdom's first hotel exclusively for females opened yesterday, offering plush lodgings with a full-range of health and beauty facilities for ladies to pamper themselves, away from the accusing eyes of a male-dominated society.

A hotel catering just for women has opened in Riyadh. The Luthan Hotel & Spa has 25 rooms and aims mainly at businesswomen in the region. he hotel is owned by a group of 20 Saudi princesses and businesswomen, where the facilities include conference rooms and health and beauty treatments. Once inside the hotel, women do not need to be covered head to toe, as all employees are female.

Ironically, it is a hotel for women but it was left to seven princes headed by Sultan bin Salman, a son of Riyadh's governor, to officially inaugurate it.

Contributed By : Shivang Prabhakar

IT & Tourism both pushing Kochi to top of prospective investment destinations

Kochi or Cochin, considered as god’s own country, was the scene of boats languidly gliding through the waters, Chinese fishing nets silhouetted against the sunset and merchants haggling over the price of spices. While, the beauty of Kochi remains unhampered, Kochi’s skyline has changed, considerably.

IT & Tourism both pushing Kochi to top of prospective investment destinations

As a port city, Kochi has always been the proclaimed economic capital of Kerala with trade and retail being its revenue generators for decades. In the recent times, since NASSCOM ranked it as the second potential city for investments in the IT sector and ever since Kochi has emerged as a favored destination for the IT & ITES industry.

Kochi shows vast potential for economic growth and industrialization based on norms such as real estate growth, available work force, overall infrastructure, policy initiatives and commercial history. However, the accessibility of cheap bandwidth through undersea cables and lesser operational costs in comparison to other key cities in India has proved to be of major advantage, specially for huge IT companies / BPOs who spend considerable amount of money in the daily data transfer to their overseas clients.

The important thing to remember is that Kochi is the one city which is well connected to the rest of the world through sea. This is also one of the reasons for Kochi being identified as an attractive destination for investments. Moreover, this inflow of investments has created realty prospects in the city, both residential and commercial as the IT firms are bringing in more and more people into the city. And with the coming up of Cochin Special Economic Zone (CSEZ) the economical capital of Kerala is now even more attractive to the investor counting on economic and realty prospects.

The SEZ, apart from catering to the business growth and industrialization with the investments in IT and Business parks has also been responsible for growth of Kochi real estate.
With this year’s budget not renewing the STPI screme for IT companies, the only resort for IT companies to still enjoy a tax holiday will be to move into SEZs and Kochi well qualifies all criterions of an ideal investment where the real estate owned by these companies will also give them considerable returns.

Besides the Technopolis developed at the CSEZ, the setting up of a software productivity center by Wipro in Kochi is considered as one of the variable factors in the evolution of Kochi as an upcoming city. Major IT firms such as US Software, IBS, Sun Tec, Gemini, NeST, Ernst and Young, Tata Consultancy Services, Infosys, ACS Inc. and Allianz Cornhill are only some of the IT firms gradually making their presence felt in the business prospect of Kochi.

The thrust from NRI remittances and the tourism sector are also greatly responsible for the changing postcard picture of Kochi. Restricted by the sea on its western coast, Kochi is spilling over to the neighbouring towns and villages, where land prices have made impressive gains. Once considered distant, neighbourhoods like Edappally and Tripunithura have appreciated from Rs.25, 000 to Rs.2 lakh for a cent.

The growing demand for housing units and the constraints on space have induced city builders to focus on building apartments in Kochi. Local builders are offering top-of-the line fittings and lifestyle add-ons like clubs and swimming pools to apartment complexes to woo home makers who prefer these homes for the security and convenience they offer.

DLF recently launched it’s Riverside Kochi project which was one of the few it has in the south, right in the backdoor of the backwaters and many other real estate developers are putting in money to develop world class living for the people who will be migrating to the place to live and work in the MNCs moving over to grab up spaces in the SEZs.

With everything from nice sceneries to good infrastructure and connectivity Kochi sounds like the place to invest and many of the “Returning NRIs” to India have sought after this opportunity and already invested their monies in this amazing and very cosmopolitan city.



Contributed By : Shivang Prabhakar

Future Group's 'Pantaloon Retail' to sell "walk-in apartments" in India

Well, if you are one of those couples who wish to live in a modern apartment, have the money to buy one, but no time to pick and choose interiors, you don’t have to worry anymore.

The Kishore Biyani-led Future Group, whose flagship company Pantaloon Retail operates over 1,000 stores nationwide, is entering into a joint venture with Mr Sumit Dabriwala, a Kolkata-based developer - is looking to market its 2 & 3 bed-room "walk-in" apartments through Future Group stores such as Big Bazaar.

This initiative is a part of the Future Group’s diversification strategy where they are foraying into selling real estate and health care, so as to leverage their physical presence across the country. The apartments is an ‘all-fitted ready-to-live-in apartments’ and a new brand is also being worked upon by the company to mark its foray into this industry.

Home Solutions Retail will provide the brown and white goods required to furnish these apartments. FH Residences is also looking to advertise its apartments in Future Group malls.

Contributed By : Manish Bhasin

Feng Shui & the BA GUA octagon

The BA GUA octagon is one of the tools used in Feng Shui to help determine preferred locations for certain functions in the home or office. The BA GUA is placed with the front door of the floor plan of your home or office placed at the bottom of the BA GUA octagon.



The bagua divides any space into nine areas. Each area corresponds to a different aspect of your life. Whatever is going on energetically (good or bad) in that part of your space will affect the related aspect of your life (see diagram).

Align the bottom edge of the bagua with the wall the door is in. Stretch the bagua sideways or lengthwise to cover the entire space. The door or entryway will always be in ken, kan, or chien gua, although it may overlap more than one gua. As you stand in the doorway facing into the space, hsun gua is always at the far left; kun gua is always to the far right, and li gua is always at the center of the wall opposite you.

If there is more than one way to enter a space, orient the bagua to the main door or entryway. Even if you usually enter your home through the garage, align the bagua of your home to the front door.

Every space has a bagua. There is a bagua for your plot of land, a bagua for your house, and a bagua for each room within your home. You can even apply the bagua to your desk, bed, or stove.

The bagua is rich with meanings and associations. The most important meanings of each gua are shown below....

Everything that happens in life can be boiled down and placed within 9 categories that are also known as life situations. Each category is spatially represented by an area within your living quarters. Individually these areas are called a gua, while placed in a specific order it is called the bagua (ba meaning "8") and it is shaped like an octagon. The 8 sides, and the middle, form the 9 zones which relate to the various life situations. However, it does not end there! Each gua is also associated with a specific color, shape, symbol, body part, etc. Here are the specific life situations which are associated with the 9 zones that compose the bagua.

(1.) Prosperity and Abundance: This is the area that relates to wealth or having money for the good things in life. It does not have to do with life's necessities such as food, rent, and utility bills. Many Feng Shui consultants consider this area to be a power source since money is often viewed as power. If you are seeking big money then this is the corner that you must work upon. Prosperity and Abundance's colors are purple, green, gold, and red. Its body part is the hip and its associated number is 8.

(2.) Fame and Reputation: This is the area of the home that supports you as a person out in the real world. It deals with how others perceive you which in turn makes a great difference in the area of money and relationships. It also has a lot to do with your own integrity and honest which in turn will make a difference in your dating life as well as in your other relationships. For this reason, even if you are a jerk, or if people just think that you are a jerk, then you still do not have to despair since the fame and reputation area can help you out. This area's element is fire and its color is red. Its shape is triangular; its creative cycle items are wood, green, and columnar; its destructive cycle items are water, black, and undulating; its body part is the eye; and it's associated with the number 1.

(3.) Relationships and Love: If you are seeking a relationship, or simply looking to have a really good time then look no further than this area of the bagua! It is very important that this area of your home be balanced in order that you can have harmony in your relationships. So, before deciding to become a monk or a nun, you should make sure that this area of your hope is balanced. Relationships and Love's colors are pink, red, and white. It is associated with all major body organs and the number 2.

(4.) Creativity and Children: This area of your home relates to creative thinking. You may wish to begin in this area since it will help you form creative cures for the rest of your home. This area also relates to children since they are well known for their creative thinking abilities. Anything to do with working with children (whether they are yours or not, your siblings, or even the children that you may have in the future) should be done in this area of your home. Creativity and Children's element is metal; its color is white; and its shape is round or mounded. Its creative cycle items include Earth, yellow, flat or square shapes; its destructive elements include fire, red, and pointed shapes. It is associated with the mouth and the number 3.

(5.) Helpful People and Travel: This area of your home is set aside for calling upon someone who can make your life easier, whether it is a teacher, inspirational writer, maid, or other person who is helpful. Helpful People and Travel's color is grey, black, and white. It is associated with the head and the number 5.

(6.) Career and Life Path: This area of your home is linked to whatever it is that you are supposed to be doing in life, whether it is business or traversing a more spiritual path. This area of your home is dedicated to getting you onto the right path for your life. Career and Life Path's element is water; its color is black; its shape is undulating and free forms. Its creative cycle elements include metal, white and round objects while its destructive cycle elements include earth, yellow, and flat or square objects. It is associated with the ear and the number 6.

(7.) Skills and Knowledge: This area of your home effects how you learn, store and use knowledge. While each gua's energy affects the areas around it, this one is especially worthy of your attention. For instance, if you do not have the ability to manage the money you earn then it may erroneously appear that your Prosperity section is not working for you. This area is especially worthy of attention if you are in school but simply cannot bring yourself to study. Skills and Knowledge's colors are blue, black, and green. It is associated with the hand and the number 7.

(8.) Family: This area is associated with family issues. It also holds the energy for every day monetary issues such as rent, food, and the other necessities of life. Thus, if you do not have this area in order then your Prosperity area may never really reach its true potential. Family's element is wood; its color is green; and its shapes are rectangular, columnar, and vertical. Its creative cycle items include water, black, and undulating shapes while its destructive cycle elements include metal, white, and round objects. It is associated with the foot and the number 4.

(9.) Health and Other: The center of the bagua contains all of the other life situations which are not mentioned above. Since this area is located in the middle of your home it geographically touches all other areas and thus, due to its location it affects all other areas, both literally and figuratively. As the old saying goes, "If you don't have your health, you don't have anything." Health's element is Earth; its colors are yellow and earth tones; its shape is square, horizontal, and flat. The creative cycle elements include fire, red, and pointed objects while the destructive cycle items include wood, green, and columnar objects. It is associated with any of the body parts that are not associated above and the number 9.

The Ba Gua points are contributed by Brenda-Marie Hoffman - © 2002 Pagewise

Contributed By : Abhi Chopra