The Indian real estate sector is optimistic about the recent budget but calls for further action to meet industry demands, with key benefits noted for housing and infrastructure.
HDIL announced a $250 million investment from DE Shaw in its affiliate Mack Star Marketing for a commercial complex in Andheri amidst a challenging real estate market.
Indiabulls Real Estate will acquire Dev Property in a £138 million share-swap deal, expanding its presence in the booming Indian real estate market.
Eldeco Group seeks $200-250 million from private equity investors for projects in Punjab and Maharashtra after abandoning merger and capital market fundraising plans.
ING Group NV launches new Asia real estate fund in Hong Kong focusing on listed REITs and real estate companies.
Real estate firms call for tax cuts and controlled material prices in the upcoming budget to stimulate the struggling sector and benefit buyers.
Primary Real Estate Advisors plans a $500 million fund amidst India's cooling property market, targeting 15-20% returns despite slowing sales in major cities.
Red Fort Capital Advisors is set to invest an additional $500 million in India, focusing on affordable housing and logistics, while targeting top urban markets.
Fitch Ratings predicts positive growth for the Indian construction sector in 2007-08, driven by infrastructure and real estate investment. Profitability is expected to surge from 2009.
