‘Institutional investments in realty cross $1 bn in Q1 CY24’

Institutional investments in the Indian real estate sector crossed $1 billion in the first quarter of 2024, signalling a steady and positive start to the year, Colliers India reported on Tuesday. “Domestic investors were increasingly gaining more ground in Indian real estate, they captured a 45% share in Q1 2024 investments, a marked surge from prior years. Within domestic institutional investments, office and residential assets formed about 66%,” the company said.

The World Bank has warned that the South Asia region including India was not making use of its demographic dividend as the pace of job creation in the region fell short of growth in the workingage population, even as it projected a strong 6.06.1% growth for 202425 for the region in its South Asia regional update, Jobs for Resilience, released on Tuesday.

Observing that India’s employment growth was “well below” the average growth in its working age population for the 200023 period, the multilateral lender said consequently the country’s employment ratio had declined more than in any other country in the region except Nepal up till 2022. However, preliminary data suggested a 3percentage point rebound in 2023, which had partially decline.

Noting that India’s economy was expected to post a “robust growth” of 7.5% in FY23/24, the lender said this growth coupled with recoveries in Sri Lanka and Pakistan, was largely driving the strong numbers for the South Asian region.

Still, the region could have 16% higher output growth if the share of its workingage population that was employed was on a par with other EMDEs, stressed Franziska Ohnsorge, World Bank Chief Economist for South Asia.

“South Asia is failing reversed the right now to fully capitalise on its demographic dividend,” said Ms. Ohnsorge. “This is a missed opportunity,” she added.

The weak employment trends in the region were concentrated in nonagricultural sectors, the World Bank said, reflecting challenges in the institutional and economic climate, which had stifled the growth of businesses.

To encourage job growth the Bank recommended supporting the participation of women in the economy, increasing openness to trade, and improving education.