Commercial Real Estate

COMMERCIAL REALTY RECOVERS ON IT DEMAND
Shilpa Phadnis, Bangalore
The Times of India (Bangalore edition)

Riding on the rapid recovery from recession, many large firms are signing up big-ticket commercial real estate deals in different parts of Bangalore. Industry sources say that Accenture has committed to take 8-lakh sqft in Pritech Park on the Outer Ring Road (between Marathalli and Sarjapur Road). HP and Wipro are said to have recently taken 2.5-lakh sqft and 1.2 lakh sqft respectively in Pritech.

The east and south of the city have been the traditional IT belt, but now the north too is buzzing. IBM, Cognizant, Accenture and HP will be renting space in the second phase of Manyata Embassy Business Park near Hebbal. Sources in the industry say that IBM has committed to 5-lakh sqft of office space in Manyata phase II. The Big Blue has already occupied 3-lakh sqft in the first phase of the park.

Related articles: Wipro, Cognizant, IBM for big-ticket realty deals

Construction Equipment

TEREX TO INVEST $200 M IN INDIA
New Delhi
The Hindu Business Line

The US-based construction and infrastructure equipment maker, Terex Corp., expects to invest around $200 million in India, as it looks to increase its manufacturing presence in the country. The company, which wants to triple domestic revenues in the next five years, would also expand its marketing presence. The company plans to double capacity at its Noida plant by 2015, while increasing capacity at the Hosur facility by around 50 per cent through the next year.

Infrastruction: roads and airports

A SIGNAL-FREE DRIVE TO THE TAJ IN 3 YEARS
Dipak Kumar Dash
The Times of India (Delhi edition)

The drive to Taj Mahal through NH 2 will become faster and nearly signal free in the next three years. The National Highways Authority of India (NHAI) plans to build flyovers or underpasses at all traffic intersections on the route, including one at Ashram Chowk in the capital, and a major private developer will start work on widening of the NH 2 between Badarpur and Agra.

Ajit Gulab Chand, chief of HCC infrastructure, which has built the elevated road, said, “This project is close to my heart. I have a long connection with Delhi-Faridabad road. Decades ago, when I started working, my first job was at Indian Hume Pipes (one of our family businesses) having office just across the border. I travelled regularly for 2-3 years,” he added.

NAVI MUMBAI AIRPORT WILL CATER TO 60 MILLION PASSENGERS BY 2030
Rahul Wadke/Shubhra Tandon, Mumbai
The Hindu Business Line

The much-delayed Navi Mumbai International Airport (NMIA), when completely built, will be India’s largest green-field airport project in terms of passengers handled, catering annually to 60 million passengers by 2030.

In comparison, its counterparts in Bangalore and Hyderabad envisage catering to an annual capacity of 40 million passengers each, in the next 10-15 yearswhich wants to triple domestic revenues in the next five years, would also expand its marketing presence. The company plans to double capacity at its Noida plant by 2015, while increasing capacity at the Hosur facility by around 50 percent through the next year.

Private Equity Investment

BARING TO ENTER INDIAN REALTY IN 6 MONTHS
Raghavendra Kamath, Mumbai
Business Standard

Baring Private Equity Partners (BPEP), the global PE major, will begin investing in Indian real estate in the next six months, according to a top executive of the fund.

PROPERTY PRICES

FLAT RATES SOAR AFTER AIRPORT NOD
Vijay Singh
The Times of India (Mumbai edition)

The green signal given to the Navi Mumbai airport project, by way of the environmental nod that came on November 22, has led to a dramatic escalation of property rates in the satellite city. The new rates are expected to be a boon for builders and property investors.

The secretary of the Navi Mumbai Chamber of Housing, Manohar Shroff, said, “The residential rates in various parts of the city have shot up by Rs 300 to Rs 1,000 per square foot since the past week. This is rather worrisome as there is no stability in the market now. It has happened all because of the airport project.’’

Industrial

FINNISH TECH GROUP METSO SEES INDIA AS NEXT GROWTH MARKET
R. Balaji, Chennai
The Hindu Business Line

The Finnish Metso Group, a global supplier of technology and services for mining, construction, pulp and paper industries, is expanding its range of products and services in India.

The Metso Park coming up in Rajasthan, will start with manufacturing facility for mining and construction and extend to other product lines. Metso Power, launched to manufacture boilers, will handle the engineering and outsource manufacturing to Indian partners, he said.

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