Realty players in hectic talks with retail chains

New Delhi: As the Union Government has cleared 51 percent Foreign Direct Investment (FDI) in the multi-brand retail sector, decks have been cleared for the foreign giants to enter India and against this backdrop, the country’s real estate developers are busy drawing up plans to cash in on the new situation. They have geared up tap the fresh demand the development will generate in the commercial realty sector. Mainly, the foreign players once they enter Indian market will be in need of huge space for their outlets.

R K Arora, chairman and managing director (CMD), Supertech, a national capital region (NCR)-based real estate developer, said that global retail chains like Walmart, Carrefour, Metro, Spar and a few others are in touch with us for a tie-up and taking up space in our mixed use projects and the mall e-square. He said as the demand for urban space is likely to pick up now, “we plan to go for more of retail space in terms of malls in the near future.

Like Supertech, many other real estate players are focussing on the commercial projects. The government recently decided to open up the multi-brand retail sector to up to 51 per cent of foreign direct investment (FDI). The government had notified rules to increases FDI in single brand retail to 100 per cent from 51 per cent.

DTZ-UGL gears up to meet demand from Indian realty market

New Delhi: Global property consultant DTZ-UGL is all set to cater to the growing demand of the Indian real estate sector. UGL had purchased DTZ last year.

UGL is a global company dealing in outsourced engineering, property services and asset management and maintenance for government agencies and corporations worldwide. A Western Australian based resources construction company, UGL has become a diverse, multinational outsourced services company.

The entity said it was looking to become an end-to end service provider, offering services such as estate management and transaction services. The company is also looking to create a global platform for institutional investors in sectors like pharmaceuticals, retail and hospitality.

Robert Shibuya, Group President, UGL Services/DTZ maintains that the real estate sector will be a growth story in India. The sector has been contributing about five per cent to the Indian GDP, and has a significant impact on real estate markets worldwide.

Talking about Asia, he said the continent is a safe investment haven was increasing the appetite of institutional investors. “We see an opportunity for growth by creating a global platform,” he added.

Anshul Jain, Chief Executive, DTZ India said there is a growing demand from US companies looking for investments into India, especially in retail, pharma and durables.

Jain said the Indian real estate sector is growing faster. “Even as Indian consumers exhibit a growing demand for luxury and high-end imported brands, the steep depreciation in domestic currency value will adversely impact demand for imported products in the short term. However, most retailers are bullish on the long-term growth potential of the retail industry in the country.