21 April 2018

Table of Contents for Ticker Tape





Construction

ZAHA HADID ARCHITECTS TO DESIGN NAVI MUMBAI INTERNATIONAL AIRPORT

British architecture firm Zaha Hadid Architects (ZHA) has secured the mandate to design the Navi Mumbai international airport, being developed by the GVK group-led NMIAL.  Established in 1979, ZHA has a portfolio of over 950 projects spread across 44 countries.

The firm, which bagged the contract from Navi Mumbai International Airport Limited (NMIAL) after a 12-week design competition, will design the new airport's Terminal 1 and air traffic control (ATC) tower, ZHA, a firm known for its path breaking and remarkable architecture has the expertise of delivering a world class airport design through a highly professional team. The first phase of the Navi Mumbai airport is likely to be completed by the end of 2019, with one runway and the terminal building ready, and will handle up to 10 million passengers per annum.

The second phase, is to be completed by 2022, will take the handling capacity to 25 million passengers. The third phase will be completed by 2027, and at the completion of the fourth phase by 2031, the handling capacity will increase to 60 million passengers.

 

 

FRENCH CEMENT GIANT VICAT  TO INVEST Rs.1,735 CRORE IN INDIA

French Euro 2.5 billion cement giant Vicat group will invest Rs.1,735 crore (€223 million) in the Indian cement sector involving both brownfield expansions and Greenfield projects.

As a part of the fresh investment plan, Vicat group will invest Rs.1,225 crore (€140 million) on brownfield expansion of the Karnataka plant to add 2.25 million tons capacity by first quarter of 2023, taking the total capacity of Kalburgi Cement to 5 million tons, said India chief executive officer Anoop Kumar Saxena.

The India investment plan also includes setting up a Greenfield cement manufacturing facility in Vizianagaram district Andhra Pradesh involving an investment of Rs.510 crore (€60 million) for a capacity of 1.75 million tons.

The Andhra Pradesh project will be completed during mid of 2022, taking the total capacity of Vicat group in India to 6.75 million tons

 

 

DOSTI REALTY LAUNCHES FLAGSHIP PROJECT IN THANE

Dosti Realty has launched two towers: Dosti West County – Dosti Oak (Phase-1) a 30 storey tower and Dosti West County – Dosti Cedar (Phase-2) a 33 storey tower respectively. These two towers jointly comprise of 2 BHK (Optima, Prima and Ultima) and 3 BHK (Prima and Ultima).

Dosti Realty is on with the endeavour to develop and deliver quality spaces suitable to the dynamic needs of the homebuyers.

 

 

SHRIRAM PROPERTIES RAISES Rs.1,000 CR FROM ASK GROUP

Shriram Properties, the realty arm of diversified conglomerate Shriram Group,  has raised Rs.1,000 crore from PE firm ASK Group to set up a fund which will invest in affordable, mid-housing and distressed asset. The company will tap projects in cities where it already has presence. Shriram Properties has presence in residential projects in Bengaluru, Chennai, Coimbatore, Vizag and Kolkata.

PRESTIGE GROUP TO ACQUIRE 80 PER CENT STAKE IN STERLING URBAN INFRAPROJECTS FOR Rs.336 CRORE

Prestige Group has entered into an agreement to acquire 80 per cent stake in Sterling Urban Infraprojects, which holds land parcels in Bengaluru, for a cash consideration of Rs 336 crore.

 Sterling Urban Infraprojects owns around 59 acres of land at outer ring road-Sarjapour, Bengaluru.

The company  plans  to develop commercial office space with over six million square feet of developable area.

 

 

BERGER PAINTS TO INVEST  Rs.1.5 BN IN NEW UP PLANT

Berger Paints, the second largest paint manufacturing company, will invest Rs.1.5 billion towards building a new plant near Lucknow.  The move is expected to help the company push up sales volume by around 7 percent in the next two years.

The new plant is expected to be built in Sandila Industrial Area,  the plant will have the bonus of a few fiscal incentives like refund of the state’s share of the Goods and Services Tax. The new plant will cater to the Uttar Pradesh-Bihar region.

 

 

INDIA, GERMANY SIGN PACT FOR SMART CITY COOPERATION

The MoU signed between Union Ministry for Housing and Urban Affairs and the German development agency GIZ would develop and apply concepts for sustainable urban development providing urban basic services and housing in select cities as well as smart cities in India.

GIZ would contribute up to €8 million for the project which would run for a period of three years.

Technical cooperation measure will support approaches for sustainable urban development in the area of integrated planning, provision of affordable housing and basic services with particular focus on water, waste water and solid waste management and mobility

 

 

PNC INFRA GETS Rs.60 CR BONUS

PNC Infratech has received an amount of about Rs.60 crore as bonus from the Uttar Pradesh government for early completion a section on Agra-Lucknow expressway.

The scheduled date to complete the 56 km Agra to Firozabad section on the highway was January, 2018 and the company has completed the project on 31Sr October. 2017, 89 days ahead of the schedule.

The amount of Rs.58.23 crore has been paid by the Uttar Pradesh Expressways Industrial Development Authority (UPEIDA), UP Government.

 

 

GREEN SIGNAL FOR Rs.60,000-CR NATIONAL URBAN HOUSING FUND

The Union Cabinet has approved setting up of a Rs.60,000-crore National Urban Housing Fund (NUHF) to facilitate the implementation of the Pradhan Mantri Awas Yojana (Urban) Mission and to ensure that every poor living in the urban areas has a home by 2022.

The NUHF will be set up in the Building Materials and Technology Promotion Council (BMTPC), an autonomous body under the Ministry of Housing and Urban Affairs.

To monitor the NUHF, a committee will be formed in the Ministry which will be chaired by the Joint Secretary/Mission Director PMAY(Urban).

By March, a total of 45 lakh houses are expected to be sanctioned under the mission. Under the programme, launched on June, 2015, a total of 39.4 lakh houses have been sanctioned till date,

 

 

EMBASSY GROUP TO INVEST Rs.2,000 CRORE FOR IT PARK IN BENGALURU

Embassy Group will be invest around Rs.2,000 crore to develop nearly 6 million sq ft commercial space at Embassy TechVillage in Bengaluru. This will be the next phase of construction of the IT park, encompassing a development area of 12 million sq ft.

Embassy has completed nearly 4.5 million sq ft development and will be finishing 1.5 million sq ft more by the year end, taking the total development to 6 million sq ft. US-based PE major Blackstone Group owns 50 per cent stake in Embassy Office Parks that is developing Embassy TechVillage.

The developer will be using internal accruals and construction finance to support this expenditure. Embassy TechVillage is a more than 100-acre development planned as an integrated project with commercial, retail and hospitality components. It is located in Bengaluru’s IT corridor and is connected to IT hubs such as Whitefield, Electronic City and the city’s CBD.

 

 

ASHIANA COMPLETES PHASE I OF SENIOR HOUSING PROJECT IN CHENNAI

Ashiana Housing a New Delhi based developer has completed phase 1 of its first senior housing project in Chennai, Ashiana Shubham. The project is a joint venture with Arihant Housing.

Ashiana Shubham is located in Maraimalai Nagar on the Grand Southern Trunk Road and spans over ground plus three floors. It houses 1, 2 and 3 BHK apartments

The developer has already completed senior housing projects in Bhiwadi (NCR), Jaipur and Lavasa, Pune.

 

 

HILTON INDIA TO MANAGE 16 NEW HOTELS

More than 10 million foreign tourists arrived in India in 2017 compared to 8.89 million in 2016. The rise in the number of international business travellers and domestic tourists is on the upswing and to make the most of it Hilton India, a fully-owned subsidiary of the U.S.-based Hilton Hotels and Resorts, plans to manage 16 additional hotels in the next three to four years. Hilton India currently manages 17 hotels. Its first property was in New Delhi built by DLF in 2009.

 

 

PREFERRED HOTELS & RESORTS PLANS TO GET MORE AGGRESSIVE

Chicago-based Preferred Hotels & Resorts, the world's largest provider of sales, marketing and distribution services to luxury hotel chains, plans to grow aggressively this year and will add 10 hotels to its South Asia portfolio by 2020,

Preferred’s planned India expansion is part of its strategy for South Asia where it wants to add 50 hotels by 2020, Ueberroth told ET.

As part of growth strategy, Preferred will focus on its ‘I prefer’ loyalty programme and ‘Preferred Residences’, a collection of luxury residential properties, and work to widen its footprint in markets like China, South East Asia and Africa,

Preferred's portfolio in India includes 36 member hotels from chains like the ITC and the Leela Group across destinations like New Delhi, Mumbai, Bengaluru, Goa, Chennai and Ahmedabad.

 

 

INDIAN REALTY SECTOR TO TOUCH $180 BILLION BY 2020

The market size of the Indian real estate sector is expected to reach $180 billion by 2020 with the housing sector contribution doubling to 11.2 per cent of GDP, said a report unveiled on Wednesday.

The report released by the Confederation of Real Estate Developers’ Associations of India (CREDAI) jointly with international real estate consultant JLL, said RERA, GST, FDI policy, affordable housing, real estate investment trust, technology and alternative asset classes are the major altering trends that would transform the Indian realty sector in the near future.




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