Page 27 - CO January 2022

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SOREN LAYS FOUNDATION STONE FOR `567 CRORE consumer and engineering industries. The facilities are designed in
DALMIA CEMENT UNIT IN BOKARO line with MLL’s sustainability standards, including Liquid Discharge
Jharkhand Chief Minister Hemant Soren urged industrial houses to Management and Renewable Energy and Waste Management
fulfil their commitment in utilising land for setting up units and not requirements and state-of-the-art automation. MLL will employ CONSTRUCTION
to leave it vacant as it was linked to the hopes and aspirations of over 2,500 employees and third-party associates across these
development. Addressing a gathering after laying the foundation facilities.
stone of the second unit (Unit-2) of Dalmia Bharat Cement Plant In line with both LOGOS’ and MLL’s commitment to sustainability,
at Balidih, Bokaro to be built at a cost of `567 crore, Soren said the Estate will incorporate market leading sustainability and
attracting investment and creating huge employment was one environmental initiatives including 20 acres of Miyawaki Forest
of the topmost priority of the state for all-round development. “If Plantation, solar power generation and distribution for warehouse
the government gives land to industrial houses, then they should and common infrastructure energy provision. State-of-the-art
use it for setting up industries. Don’t leave it vacant or allow it monitoring to measure warehousing air circulation, temperature,
to be encroached. It is poor farmers, the needy and the others energy and water usage will also be employed within the Estate
who give their land with great expectations so that they can get in conjunction with heat mapping on the movement of trucks and
employment opportunities and be empowered,” he said. Nothing people throughout the property for operational control which will
is impossible if you have a positive attitude and a strong will, he influence the future design requirements of logistics estates.
said, adding that under the new industrial policy it is priority of the LOGOS Luhari Logistics Estate is part of LOGOS India Logistics
government that maximum capital investment should be done Venture which has $800 million in investment capacity to develop
in the state. and own high-quality, modern logistics facilities in key logistics
Referring to Bokaro Steel Plant of the PSU Steel Authority of India Ltd markets of India.
(SAIL), the CM said it was once the largest factory in Asia but the
situation now has changed. He said the government was ready MUMBAI, DELHI AND BENGALURU’S PRIME RESIDENTIAL
to restore its reputation. MARKET IS WITNESSING PRICE STABILITY: KNIGHT FRANK
Delhi and Bengaluru’s prime residential market is witnessing price
GODREJ PROPERTIES TO DEVELOP A LUXURY RESIDENTIAL stability in QoQ basis and Delhi ranked 39th with stable price level
PROJECT IN DELHI THROUGH A JOINT VENTURE WITH TDI for the period Q3 2020 – Q3 2021, according to Knight Frank’s
GROUP ‘Prime Global Cities Index Q3 2021’.
Godrej Properties Ltd. (GPL), (BSE scrip id: GODREJ PROP), one of Bengaluru has moved down one spot up against the previous
India’s leading real estate developers, today announced that it quarter in the index, to rank 42, as the quarter registered a 1.1%
has entered into a Joint venture with TDI group to develop an ultra- YOY price fall in the prime markets. Prices remained stable in Q3
luxury residential project in Connaught Place, one of the most 2021. Mumbai remains in the 40th position in Q3 2021, holding
premium location within the Central Business District of New Delhi. the same rank in the previous quarter, as prices fell marginally by
The project is estimated to have a developable potential of 0.1% YOY. In case of Mumbai too, prices are higher 0.2% QoQ in
approximately 125,000 square feet saleable area comprising Q3 2021.
primarily of residential apartments of various configurations. Prime residential property is defined as the most desirable and
The site is centrally located and offers excellent connectivity, well most expensive property in a given location, generally defined
developed social and civic infrastructure with Delhi’s best schools, as the top 5% of each market by value. The Prime Global Cities
hospitals, retail and commercial spaces in close proximity. Index is a valuation-based index tracking the movement in prime
residential prices in local currency across 45+ cities worldwide
LOGOS AND MAHINDRA LOGISTICS DEVELOPING 1.4 using Knight Frank’s global research network.
MILLION SF OF MULTI-CLIENT BTS WAREHOUSES IN DELHI- According to Knight Frank’s research analysis, 39 cities witnessed a
NCR rise in prime residential prices between Q2 and Q3 – 2021. Fifteen
Mahindra Logistics (MLL), one of India’s largest Third-Party Logistics cities registered double-digit priced growth.
(3PL) solution providers and LOGOS, a leading Asia Pacific logistics The Prime Global Cities Index, an unweighted price index of prime
specialist, have announced a long-term lease agreement for 1.4 residential prices across 45+ cities, increased by 9.5% in the year
million square feet (mmsf) of warehouse facilities at the LOGOS to Q3 2021 compared to 8.2% in the year to Q2 2021.
Luhari Logistics Estate in Delhi NCR. The transaction represents According to the report, 84% of the global cities registered positive
India’s largest warehousing facility in a single park. yearly price growth; while Miami leads the index this quarter for
Under the agreement, LOGOS will develop three Grade-A the first time since 2007 recording 26.4% rise in the year to Q3
warehouses totaling 1.4 mmsf for MLL at the LOGOS Luhari Logistics 2021, Jakarta was the weakest performing market with a decline
Estate. The first 0.5mmsf warehouse, which was completed in of - 4.2%. Canadian metropolises, Vancouver and Toronto prices
mid-2021, is fully operational and the other two warehouses are softened in Q3 2021, compared to Q2 2021, as home buyers
currently under development with delivery in late 2021 and early remain doubtful about the direction taken by the Government as
2022 respectively. it recently announced 2-year ban on foreign residents purchasing
The new warehouses will be an important part of MLL’s Pan- a home in Canada. The Evergrande crisis softened the prices of
India network of multi-client facilities that manage the fulfillment prime residential real estate in Shanghai, Beijing, Guangzhou and
and distribution of its clients’ services within the e-commerce, Shenzhen.

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