India's Real Estate Deals Shine in Asia Pacific
Two significant real estate transactions in India during August 2011 have earned recognition among Asia's top ten deals in their respective categories, as revealed by a recent study conducted by Real Capital. These deals involved the sale of Leela Kempinski Kovalam and a transaction pertaining to Noida's Wave Mega City Centre.
Real Capital, a prominent real estate analytics firm, diligently monitors and analyzes real estate transactions exceeding $10 million globally. The firm's scope encompasses various property types, including apartments, hotels, retail spaces, industrial properties, office buildings, and development projects. The acquisition of Leela Kovalam by Saudi Arabia-based industrialist Ravi Pillai, estimated at approximately Rs 500 crore, secured the tenth position on the Asia-wide list of largest hotel sellers.
Key Asian Real Estate Markets
Bangalore and Mumbai have emerged as prominent players in the Asian office market, demonstrating significant activity and attracting substantial investment. In the realm of apartment markets, Delhi secured the sixth position, while Mumbai claimed the eighth spot among the most active markets in Asia. The list is led by Tokyo, followed by other major Asian cities like Singapore, Hong Kong, Osaka, and Beijing.
Chennai also garnered recognition, achieving the eighth position among the most active hotel markets in Asia. However, India's presence in major retail deals remained comparatively subdued, failing to secure a prominent ranking in this particular segment.