Real Es­tate

NBM&CW - - NEWS -

Vir­tu­ous Re­tail build­ing ₹800-cr re­alty space in Delhi

Vir­tu­ous Re­tail, equally backed by Dutch pen­sion fund man­ager APG As­set Man­age­ment, will de­velop a pre­mium re­tail fa­cil­ity in the heart of the na­tional cap­i­tal en­tail­ing an in­vest­ment of ₹800 crore. It may be re­called that Vir­tu­ous Re­tail is a joint ven­ture between Sin­ga­pore-based Xan­der Group and the Dutch in­sti­tu­tional in­vestor and the player has re­cently pur­chased an own­er­ship stake in North Delhi Metro Mall where it plans to add more re­tail space by in­vest­ing the tar­geted funds.

Re­alty project launches record amaz­ing up­swing

In an en­cour­ag­ing de­vel­op­ment in the coun­try’s real es­tate sec­tor, the new project launches across top seven cities in the coun­try has wit­nessed 27% in­crease dur­ing the quar­ter 1 of 2018 as com­pared to the cor­re­spond­ing pe­riod of the pre­ced­ing year. Also, the un­sold in­ven­tory has de­creased by 2 per cent from 7.27 lakh units in Q4 2017 to 7.11 lakh units in Q1 2018. Ac­cord­ing to ANAROCK Prop­erty Consultant’s lat­est re­search, 2018 has started on a pos­i­tive note with res­i­den­tial unit launches mak­ing a come­back with a bang.

In­di­a­b­ulls-Ori­con launches 2.55-lakh sq.ft re­alty project

In­di­a­b­ulls Real Es­tate, through its whol­ly­owned sub­sidiary In­di­a­b­ulls In­fraes­tate, re­cently en­tered into an agree­ment with Ori­con En­ter­prises for joint de­vel­op­ment of a com­mer­cial build­ing in Worli area of Mum­bai. In this con­nec­tion, the de­vel­oper has ex­e­cuted a non bind­ing pact with the Ori­con En­ter­prises, the owner of around 0.9 acre land par­cel si­t­u­ated at Dr. E. Moses Road in Worli. As per the pact, In­di­a­b­ulls In­fraes­tate will get ex­clu­sive own­er­ship rights of around 2.55 lakh sq.ft. leasable area.

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