The real estate market has not recovered well after COVID-19, but property firms are now in a position to buy land plots at reasonable prices. Nam Long’s president Nguyen Xuan Quang said at the meeting with investors in mid-June that the firm is gathering strength to enlarge the land fund, targeting large land plots in satellite localities in HCM City and Hanoi. … [Read more...] about Real estate firms spend trillions of VND to buy land plots
Evergrande real estate group
The economic growth is likely to be in negative during the current financial year and the Covid-19 crisis is leading to significant amounts of job cuts and salary reduction, he said adding that this would certainly impact demand for high-value purchases such as housing. … [Read more...] about Godrej Properties looks to increase market share amid Covid-19 pandemic
NEW DELHI: India's Global Real Estate Transparency Index ranking has improved by one notch to 34 on the back of regulatory reforms, better market data and green initiatives, according to property consultant JLL. India was ranked 35th in the index during 2018 bi-annual survey, while the country was at 36th position in 2016 and 39th in 2014. The country's real estate market is currently placed in the 'semi-transparent' zone. The United Kingdom (UK) ranks first in the list of 99 countries, followed by the United States, Australia, France, Canada, New Zealand, the Netherlands, Ireland, Sweden and Germany. Mainland China is at 32nd position, Chinese Taipei at 23rd, Sri Lanka is at 65th position while Pakistan is at 73rd. Top 10 countries are categorised as highly transparent, while those in the 11th position to 33rd are termed as transparent. "The country ranks 34th globally on the index, with higher levels of transparency observed in India due to regulatory reforms, enhanced … [Read more...] about India ranks 34th in JLL’s Global Realty Transparency Index
ET Intelligence Group Asian Paints acquired a modular kitchen business in 2013, then a bathroom fittings business in the next year. With Covid striking, the company forayed into hand and surface sanitisers in May and has now announced the launch of floor and toilet cleaners. Is India's largest decorative paints company innovating through its foray into growth-oriented consumer businesses, or allocating disproportionate resources into unrelated segments at the expense of what is considered core? The recent business forays are largely B2C – requiring retail distribution that is different from the company’s traditional paints distribution. While the first two new businesses are service-oriented, the latest ones are branded products in a new category. Even after six years of acquiring and ramping them up, the home improvement business - comprising of the Sleek kitchen and Ess Ess bathroom businesses - contribute just over 2% to the total revenues and are loss-making. … [Read more...] about ET Analysis: Is Asian Paints innovating or piling on non-core businesses?
NEW DELHI: People Group, which owns and operates real estate portal Makaan.com, has entered into talks with potential buyers, to sell the venture, at a time when the country’s online property space is being seen as the next battleground for global risk capital and strategic investors. MagicBricks. com and online web and mobile classifieds company Quikr are among those believed to have held early-stage discussions with the promoters of Makaan.com, according to two sources with direct knowledge of the developments. A potential transaction could see promoters of Mumbai-based venture, either outright sell its entire stake, or enter into a joint venture with a new backer, which could see the promoters divest up to 50% of their ownership, and which will also have a long-term payout component built into the agreement. Anupam Mittal, the founder and promoter of People Group, declined to speak on the developments, while emails sent to Magic-Bricks.com and Quikr did not receive any … [Read more...] about Mumbai-based realty portal Makaan.com may sell or form JV with MagicBricks or Quikr