FDI & NRI
Sobha Group, one of the leading premium real estate developers, has announced the launch of Sobha Hartland Greens, a luxurious and exclusive eight-storey apartment building located in Sobha Hartland, Dubai. It is the part of an eight million sq.ft development with unrivalled cityside, waterside living and 30% green space right in the epicentre of the globalesque city. Indian real estate buyers are one of the primary segments the new project is targeting, as they are the largest investors in property among non-GCC buyers in the region.
IndoSpace, one of India’s leading developers of industrial & logistics parks, signed two Memorandums of Understanding (MoUs) with state-owned Maharashtra Industrial Development Corporation (MIDC) for a potential investment of Rs. 768 crore ($112 million). The MoUs are for the development of projects at MIDC’s Ranjangaon and Chakan industrial parks. On completion, the two projects will generate employment for approximately 4,000 people, IndoSpace announced recently.
After its successful launch in India, Piramal Realty, the real estate arm of Piramal Group, launches a premium residential tower ‘Vivaan’ exclusively for NRIs in Dubai. This building is situated within the residential complex of Piramal Vaikunth at Balkum, Thane, which is 25km from Mumbai International airport. Bookings for Vivaan commence from November 20, 2015 with 30 select residences available at a special offer price.
The significant reforms announced today can be said to be the biggest relaxation to the FDI policy for the real estate sector since the opening up of this sector for FDI in 2005.
Sotheby’s International Realty (SIR), a name synonymous to luxurious living, has been providing astonishing properties to the most prestigious clientele world over since 1976. Having a global network of more than 780 offices in 61 countries, SIR extended its legendary heritage in India last year by the name of North India Sotheby’s International Realty (NISIR). In a span of one year, NISIR has established itself as one of the leading independent brokerages in the country by artfully uniting extraordinary properties with extraordinary lives. To further strengthen the company’s strategy, marketing and operations in India, NISIR announced some key appointments recently.
FICCI, in collaboration with US International Trade Administration and 32 Advisors, recently organised the US-India Infrastructure Roundtable in Washington. This event was organised to discuss important areas of cooperation in infrastructure sector and to identify the opportunities for developing partnerships with financial institutions, governments at both federal and provincial levels, as well as the industry who are crucial to advancing the goals of Infrastructure sector.