Page 26 - CO January 2022

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CONSTRUCTION ABB has partnered with Indore Smart City Development Limited India’s office real estate markets, led by tech-cities such
INDIA OFFICE REAL ESTATE TO EXPERIENCE HEIGHTENED
ABB INDIA PARTNERS WITH INDORE SMART CITY
DEMAND IN 2022
DEVELOPMENT LIMITED TO PROVIDE CONTINUOUS
POWER SUPPLY IN INDORE
as Bengaluru and Hyderabad are expected to experience
heightened demand in 2022 as the country leads the Asia-Pacific
(ISCDL) to deploy next-generation digital technology that enables
regional growth.
the continuous supply of electricity to homes and businesses. In
In terms of real Gross Domestic Product (GDP) growth by market,
the first phase of the collaboration, this technology has enabled
more than 2300 connections to achieve 24/7 electricity supply
with an efficient automatic response system (ARS) in case of power
in 2022, said Cushman & Wakefield’s Asia Pacific commercial real
estate outlook for 2022.
outages or disruption. ABB and ISCDL now plan to replicate the India is set to surpass Japan, South Korea, Singapore and Australia
same model in other areas of the city and position Indore as the The Asia Pacific office market showed remarkable resilience by
model for smart city projects across India. Indore is the largest recording consecutive quarters of positive net absorption since
city in Madhya Pradesh and home to over three million people the onset of the pandemic. Office demand, as measured
and several key industries in the state. Indore is also part of the through net absorption, is expected to pick up across all markets
Central Government’s mission to develop 100 smart cities across in 2022, as occupiers increasingly make decisions around their
the country. One of the key parameters of a smart city is the 24/7 corporate footprints. India’s largest cities especially are forecast
supply of electricity to enable digital transformation and the supply to experience increased demand as a result of delayed decision
of key services to citizens. Indore has set its target to boost the making by occupiers in 2021. As economies reopen and
smart city development in sync with its ‘swachh’ identity in the employees start their return to the office, it is important to note
world. ABB’s Compact Secondary Substations (CSS) used in the that while there is generally a universal desire to work with greater
project reduces downtime by providing steady and reliable power flexibility post-pandemic, significant variations exist across the Asia
supply through digitally enabled SCADA solutions. The CSS also has Pacific region. Employees in India and China show a desire to work
inbuilt Feeder Remote Terminal Units which keep a real-time check frequently in office (more than two days per week). India at 72%
on consumption by each household, maintain healthy network, is 12% points above Asia Pacific average and 45% points above
the United States.
In 2022, India is bound to get the front seat in APAC real estate
growth, ahead of China & Australia, driven by strong office
demand. The same is reflected in the report where the net
absorption forecast for 2022 for Bengaluru is estimated to be equal
to that of Beijing at 8Mn SF and Hyderabad won’t be far behind
at 7 million sq ft.
While the investment market has not been immune to the negative
impacts of the pandemic, it has also been comparatively quick
to rebound. Given the outlook, and trends to date, total regional
investment volume in 2022 is expected to remain at the 2019 peak
of around $180 billion. The investment market in India continues to
and quick restoration of electricity through remotely monitored grow and mature with the REIT market now owning 10% of Grade
SCADA system. ABB’s integrated Feeder Terminal Units are hooked A stock. These growth trajectories are expected to continue into
to SCADA Centre, which enables control and monitoring of low 2022.
voltage connections and provide real-time feedback on power However, according to Cushman & Wakefield, this should not be
distribution related data. The previous manual process resulted in the sole indicator for investment as several markets across the
frequent power outages. The compact substations are also tested region, including China, India and South East Asia, remain under-
for personnel safety, contributing to the objective of achieving safe served by physical retail space and so longer-term opportunities
and smart power distribution for the city. in these markets should not be ignored.
ABB’s Compact Substations are manufactured locally in India, in-
line with ABB’s commitment to the ‘Make in India’ vision and to JSPL RECORDS A 10% YOY PRODUCTION INCREASE IN
develop domestic best-in-class manufacturing capabilities. NOVEMBER 2021
Jindal Steel and Power Ltd (JSPL) continues to post robust
KAIRAV DEVELOPERS LTD ACQUIRES 10.44 ACRES LAND production growth in November 2021. Steel production increased
AT NEMMELI, ECR IN CHENNAI by 10 % Y-o-Y to 6.74 lakh tonnes as compared to 6.14 lakh tonnes
Kairav Developers Ltd. (a joint venture company with equal of steel production in the previous year.
economic interest of Ashiana Housing Ltd. and Arihant Foundations • Steel production of 6.74 lakh tonnes was up 10% (Y-o-Y)
& Housing Ltd.) has acquired a piece of land admeasuring • Steel sales stood at 5.39 lakh tonnes
10.44 Acres at Nemmeli Village, East Coast Road, Thiruporur • Exports contributed 15% to the total sales volumes
Taluk, Chengelpet District, Sub Registration District of Thiruporur, JSPL’s November 2021 Steel sales were lower by 5% Y-o-Y at 5.39
Registration District of Chengalpattu (Tamil Nadu) to develop a lakh tonnes due to non-availability of Indian Railway rakes on
senior living project with approximate saleable area of 5 lakh sq. ft. demand.

26 CONSTRUCTION OPPORTUNITIES|JANUARY 2022