05 Jul 2024

A recent Colliers report highlights a significant rise in office space leasing in major cities during Q2 2024, indicating growing business confidence. Leasing across Mumbai, Bengaluru, Hyderabad, Chennai, Delhi-NCR, and Pune rose to 15.8 million sq ft, up from 14.6 million sq ft last year. Mumbai's leasing doubled to 3.5 million sq ft, while Bengaluru saw a 41% increase to 4.8 million sq ft. Hyderabad also grew by 73% to 2.6 million sq ft. However, Chennai, Delhi-NCR, and Pune experienced declines. Technology and manufacturing sectors drove demand, with co-working spaces leasing a record 2.6 million sq ft.Read more

05 Jul 2024

The State Bank of India (SBI) successfully raised INR 10,000 crore through its fifth infrastructure bond issuance today, aimed at funding infrastructure and affordable housing projects. The issuance attracted bids totaling INR 19,884 crore, four times the initial issue size of INR 5,000 crore, highlighting strong investor confidence. The funds will provide long-term financing for critical infrastructure and housing initiatives, crucial for sustained economic growth. The bond saw diverse investor participation, signaling a growing appetite for infrastructure bonds in India. SBI's move underscores its commitment to driving India's infrastructure development and supporting key economic sectors.Read more

05 Jul 2024

The Asian Development Bank (ADB) has partnered with Aadhar Housing Finance Limited (AHFL) to provide USD 60 million in affordable housing loans targeting women in India. This initiative aims to help low-income families, particularly women, who struggle to access traditional loan options. The USD 60 million financing includes an initial USD 30 million disbursement to AHFL, focusing on eight states: Bihar, Chhattisgarh, Jharkhand, Madhya Pradesh, Odisha, Rajasthan, Uttar Pradesh, and West Bengal. AHFL, with its extensive network, offers loans averaging around INR 900,000 (USD 10,875 USD), reducing financial barriers to homeownership. This partnership empowers women, promoting financial security and stability for families, and strengthening India's housing sector.Read more

05 Jul 2024

CtrlS Datacenters is set to invest INR 2,200 crore in Kolkata, developing a 60 MW IT load capacity data centre campus in New Town. This project, with a 16 MW first phase scheduled for completion by end-2024, will feature the first Rated-4 data centre in eastern India, adhering to top global reliability and security standards. President Suresh Kumar Rathod emphasised Kolkata's rising digital prominence, backed by its strong economic position and substantial internet user base. This expansion will bolster Kolkata's digital infrastructure, offering managed services and high-speed connectivity, thus driving business growth and creating new job opportunities.Read more

04 Jul 2024

The Adani Group has revealed plans to invest a monumental INR 1.3 trillion (USD 16 billion) in the fiscal year 2024-25, adding to their commitment to green energy and infrastructure development. Over 70% of this investment, exceeding INR 910 billion (USD 11.3 billion), will bolster their "green portfolio," targeting renewable power generation, green hydrogen production, and energy transmission infrastructure. Notable projects include a 6-7 GW expansion in renewable energy capacity and the completion of the Navi Mumbai airport. With a robust financial performance, including a record 45% increase in pre-tax profits, Adani Group reinforces its position as a pivotal player across India's infrastructure landscape.Read more

04 Jul 2024

A transformative shift is underway among India's affluent families as a new wave of entrepreneurs takes charge of family offices. Moving away from traditional investments in real estate and gold, they are now focusing on stocks, startups, and technology companies. This trend is driven by a younger generation comfortable with technology and seeing it as crucial for business success. Family offices are increasingly active in the stock market, including pre-IPO investments and secondary market trading. This shift is marked by major deals, such as Indian family offices negotiating with global giants like Coca-Cola and investing in high-growth startups like Oyo, reflecting a dynamic evolution in wealth management strategies.Read more

04 Jul 2024

The Indian real estate market, though generally positive, is seeing a slowdown in residential property sales in key IT hubs like Pune, Hyderabad, and Bengaluru. PropEquity data shows a significant drop in sales for Hyderabad (20%) and Pune (15%) in Q2 2024, while Bengaluru's sales remain flat. This contrasts with their Q1 growth of 6%, 18%, and 1%, respectively. Factors include sharp property price increases and a slowdown in the IT/ITeS sector. Despite the decline, overall annual sales figures remain strong, with experts suggesting the market is self-correcting after rapid price hikes. Prospective buyers should carefully assess the market before committing.Read more

04 Jul 2024

India's housing market shows a dual trend as PropEquity reports an 18% quarter-on-quarter sales decline across major cities like Mumbai, Delhi NCR, and Bengaluru, amounting to 119,901 units sold in April-June 2024. However, year-over-year data reveals a marginal 2% dip from 2023. Hyderabad and Mumbai saw significant drops, while Delhi NCR bucked the trend with a 7% increase. Factors such as state elections and seasonal market dynamics may have influenced this variation. Despite lower sales, demand remains strong, outpacing new supply by 23%. Analysts anticipate market stabilisation as new launches and economic conditions evolve in upcoming quarters.Read more

03 Jul 2024

Spiritual tourism is driving a surprising trend in India's real estate market, boosting Tier II and III cities as major growth centres. A new Colliers India report identifies 17 emerging cities set to benefit from this surge. While major metros like Mumbai and Delhi have traditionally powered India's economy, improved infrastructure, affordable living costs, and government initiatives are now attracting businesses and residents to smaller cities. Nearly 60% of domestic tourists visit spiritual destinations, a USD 60 billion industry expected to reach USD 130 billion by 2032. This growth, coupled with rising remote work, e-commerce, and digital infrastructure, is transforming India's real estate landscape.Read more

03 Jul 2024

The Adani Group is making a significant move into pumped storage hydropower (PSH) with a planned investment of INR 225,000 crore to INR 275,000 crore (around USD 3 billion). This ambitious project aims to establish India's clean energy leadership and secure Adani's position in the growing renewable energy market. Adani Green Energy Ltd (AGEL) plans to set up 5GW of PSH capacity within five years, eventually expanding to 25GW, boosting AGEL's green energy capacity to 70GW. The initial focus will be on Maharashtra, Andhra Pradesh, Tamil Nadu, and Telangana. Construction has begun on a 500MW pilot project in Andhra Pradesh, scheduled for completion by FY27.Read more