Chennai real estate has suffered a major jolt as three of its leading builders, DLF, Hirco and Hiranandani, have been removed from the builders’ body, the Confederation of Real Estate Developers’ Association of India (CREDAI ). Yet another major builder, Vijay Shanthi, has opted out of CREDAI membership on its own. Trouble is brewing in CREDAI’s Karnataka unit too, where four builders have been expelled.
In its first ever Indian investment, the Plaza Centers Group has appointed Pioneer Property Zone (PPZ),- leading experts in developing and managing shopping malls –for their upcoming mall in India – Property Zone will be managing the mall for the group which will include financial management & implementing strategies for growing the asset performance. The upcoming property is at Koregaon Park Plaza Mall in Pune.
Even as fund raising in India seems to be tough, real estate sector in the country is witnessing the launch of many private equity (PE) funds. The new entrant into the PE space is Sanjay Dutt, chief executive officer (business), Jones Lang LaSalle (JLL), a global property consultant firm. According to sources in the know, [...]
Mantri Developers has collaborated with Cisco to develop new ICT-enabled real estate models ‘Mantri Connected Communities and Smart Homes.’ This collaboration combines Cisco’s Smart+Connected Communities vision with Mantri’s experience as a pioneering smart urban developer to provide connected and sustainable communities and an enriched living experience to its residents.
In a major reshuffle, Dubai-based real estate developer Emaar Properties on Monday recommended a new board increasing the strength of members to 11 from the present eight.
The Godrej Properties’ Board of Directors has announced Pirojsha Godrej’s appointment as Managing Director and Chief Executive Officer of Godrej Properties Limited (GPL) with effect from April 1st, 2012.
Ramprastha Group has signed up Blue Lotus Communications for PR services. The north-India based Group has developed over 20 million Sq ft of area and another 10 million Sq ft is under development.
DLF has selected Scarecrow Communications as its creative agency for some of its residential products across India following a rigorous pitch process.
Morgan Stanley has named Shirish Godbole as the head of its global real estate investment fund in India.
K V Abdul Azeez, CMD of Skyline Group, has been chosen the chairman of Confederation of Real Estate Developers Association of India (CREDAI), Kerala.
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