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.