Weekly News (6 October 2010-10 october 2010) Submitted by JasmeetKaur MBA2c Punjab college of technical education, Ludhiana
6 October 2010 Investors looking to park funds in commercial real estate are likely to increasingly turn their attention to emerging economies in the Middle East, South East Asia and Asia-Pacific. "Commercial real estate is completely and perfectly correlated one-to-one to the broader economy. The macro economic climate and the health of the financial system are the two driving forces that dominate real estate value," said Ethan Penner, the President of CB Richard Ellis (CBRE) Capital and Executive Managing Director of CBRE Investors, Asia and Asia Pacific. East's real estate may see a foreign rush
The Cityscape Global conference, which is taking place at the Dubai World Trade Centre, has attracted some of the leading minds from the international and regional real estate industry. Penner said that real estate professionals cannot and do not create tenants out of thin air and only a growing economy can generate sustainable demand for space. Real estate, more than any other asset class, is dependent on debt. It would be unheard of for a corporation to have 60-80 per cent of its capital structure in debt, even 40 per cent debt would be considered high risk. In real estate, however, this is commonplace," Penner said.
Cityscape Global Group Director Chris Speller said: "Naturally, with emerging markets unhindered by unsustainable levels of debt and with healthy growing economies, the future of real estate looks bright. The obvious danger is that these markets once again become overheated, but Asian economies have learnt from previous economic crises, authorities are putting regulation in place to avoid future property bubbles."
Barclays acquires stake in Intelenet 7 October 2010 Intelenet Global Services today said British banking group Barclays has picked up 12.75 per cent stake in its holding company SKR BPO Services. Barclays Bank has snapped up the 12.75 per cent stake from promoters of SKR BPO Services, a statement by Intelenet said. Its promoters include private equity firm Blackstone and mortgage leader HDFC Ltd.
PunjLlyod bags Rs 539 cr order from GAIL 8 October 2010 Punj Lloyd Group said it has bagged a Rs 539-crore contract from the state-owned gas utility GAIL India for laying a natural gas pipeline from Dabhol to Bangalore. "Punj Lloyd will be laying seven spreads (sections) comprising 820 km of the pipeline," the company said in a statement here. The complete work of the pipeline from Dabhol to Bidadi and two additional spur lines (Gokak-Goa and Bechanhalli-Bangalore) has a total of ten spreads. The project will be executed over a period of 13 months.
SpiceJet axes Delhi-Kat rate to Rs 2.4K 9 October 2010 SpiceJet, the leading private airline of India has started operating flights between New Delhi and Kathmandu from Thursday, offering low cost airfare. The SpiceJet started its scheduled flight to Kathmandu as its first international destination. The airlines' 189 seater Boeing 737-800 landed in Kathmandu's Tribhuvan International Airport on Thursday . SpiceJet, known for its low cost service, opened up with NRs 3,000 one way air fare between Kathmandu and Delhi and is offering as less as Rs 2,400 per flight, he said.
DLF plans more luxury malls, eyes Hyderabad, Chennai 10 October 2010 Real estate developer DLF Ltd that currently operates luxury mall -- DLF Emporio -- in the Capital is considering to start similar projects in other big cities, including Hyderabad and Chennai, that are seeing traction for high-end brands. "We are looking to open more luxury malls in cities like Hyderabad and Chennai," DLF Malls Business Head Savitri Devi Singh said. According to a CII-A T Kearney report, India's luxury market, which is small compared to global standards, is likely to grow three times and touch USD 14.7 billion by 2015.