Indian Warehousing Market Eyes 300 MSF Growth

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September 26, 2024

Indian Warehousing Market Eyes 300 MSF Growth

India’s warehousing sector is on the brink of significant transformation, with projections indicating it will surpass the remarkable milestone of 300 million square feet (MSF) by 2025. This optimistic outlook is substantiated by a comprehensive report published by the Confederation of Real Estate Developers’ Associations of India (CREDAI) in conjunction with CRE Matrix, which outlines the vigorous expansion propelled by industrial growth and the emergence of new real estate segments. Currently, India’s Grade A warehousing stock stands at 216.2 MSF, reflecting a burgeoning market that is increasingly vital for the nation’s economic infrastructure.

In the first quarter of 2024, rental rates in the warehousing sector rose by 5%, underscoring a persistent demand-supply gap. The absorption-to-supply ratio recorded an impressive 1.4 during this period, signalling robust market activity. Notably, the Pune and National Capital Region (NCR) are dominant players, accounting for 45% of the demand for Grade A/A+ warehousing spaces. The Mumbai Metropolitan Region (MMR) and NCR combined, represent 53% of this demand, showcasing the geographical concentration of warehousing needs. Moreover, MMR recorded a staggering 52% increase in warehousing supply compared to the same quarter in the previous year, highlighting the region’s rapid development.

The warehousing landscape has evolved significantly over the past decade, transitioning from a fragmented, unorganised sector to a prominent asset class supported by increased consumption and government policy initiatives. The granting of infrastructure status to the logistics sector, the implementation of the Goods and Services Tax (GST), and the allowance of 100% Foreign Direct Investment (FDI) in warehousing and storage have collectively stimulated investment. Such strategic policy shifts are not only enhancing operational efficiencies but also aligning the sector with sustainable practices.

F&B Industry Evolution at MIFB 2024 Conference

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September 26, 2024

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F&B Industry Evolution at MIFB 2024 Conference

The Malaysian International Food & Beverage Trade Fair (MIFB) 2024 is gearing up to launch its inaugural Strategic Conference, scheduled for July 17-19 at the Kuala Lumpur Convention Centre (KLCC). This comprehensive three-day event aims to tackle pressing issues within the food and beverage sector, focusing on urban farming innovations, sustainable practices that go beyond mere greenwashing, and transformative changes within the F&B supply chain. As the industry grapples with evolving consumer demands and environmental challenges, the MIFB conference seeks to provide a vital platform for meaningful discourse among industry experts, aimed at future-proofing Malaysia’s F&B landscape.

The conference will delve into three critical areas essential for the growth and sustainability of the F&B industry: economic development, mobility, and blue and green infrastructure. These themes are particularly pertinent in the context of Malaysia’s rapid urbanisation and the increasing necessity for sustainable practices in food production and distribution. Keynote speakers, such as Faisal Mansor, Country Director (Malaysia) of ProVeg International, will present insights on market trends, emphasising the rising demand for sustainable and ethical protein alternatives. Mansor highlights the potential for restaurants and catering services to attract a broader customer base by diversifying their plant-based options, effectively marrying culinary innovation with environmental responsibility.

John Vincent Gastanes, Co-Founder and CEO of Farm Konekt, will introduce a groundbreaking platform aimed at reshaping the F&B supply chain by facilitating direct connections between farmers and markets. This innovative model seeks to enhance operational efficiency while reducing waste, an important consideration as the world confronts food security issues exacerbated by climate change. Furthermore, Chua Zhu Lian, Group Managing Director of Vision Group, will discuss how F&B businesses can leverage capital markets for growth, offering strategies for attracting investment and navigating IPO potential. This insight is particularly valuable as many entrepreneurs struggle with scaling their ventures amid financial barriers.

Luxurious Beach Getaways in Maharashtra

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September 26, 2024

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Maharashtra’s picturesque Konkan coast, with its pristine beaches and breathtaking views, offers a serene escape from the bustling urban life. For travellers seeking both relaxation and adventure, the state boasts an impressive array of coastal resorts, hotels, and villas, perfect for romantic getaways or family holidays. Here, we spotlight some of the finest beach resorts in Maharashtra that promise unforgettable experiences, blending luxury, comfort, and a touch of adventure.

SaffronStays Little Paradise in Murud is a perfect example of a beach resort that embraces its natural surroundings. Comprising three charming sea-facing wooden cabins, this pet-friendly property is surrounded by lush greenery, allowing for ample opportunities for nature walks and water sports, such as parasailing and banana boating. The culinary offerings, featuring delectable Konkani cuisine, can be tailored to accommodate specific dietary needs, ensuring a delightful dining experience. Rates starting from ₹7,000 make it an accessible option for those seeking tranquillity by the sea. Mango Beach House in Alibaug provides an ideal retreat for families and friends. Located near Mandwa Jetty, this property features spacious villas that allow guests to unwind under coconut trees or enjoy a refreshing swim in the pool. The on-site restaurant caters to various palates, serving dishes ranging from Chinese to European cuisine. With rates starting from ₹18,000, Mango Beach House represents an attractive option for those looking to create lasting memories while enjoying the coastal ambiance.

Sustainability is an essential consideration for many modern travellers, and resorts like Coco Shambhala in Sindhudurg epitomise this ethos. With its villas built using renewable coconut wood and featuring Mangalorean-tiled roofs, Coco Shambhala offers a commitment to eco-friendly practices. Guests can indulge in a variety of activities, from hiking and scuba diving to enjoying tribal puppetry shows. Rates from ₹80,000 reflect the premium experience offered, while the focus on sustainability highlights the growing trend among resorts to align with environmentally conscious tourism. Another noteworthy option is BlueOcean Resort and Spa in Ganpatipule, which features Portuguese-style villas and offers wellness experiences such as yoga and meditation. With an infinity pool and an on-site Thai spa, this resort provides not just a luxurious stay but also an opportunity for guests to rejuvenate. Rates starting from ₹9,449 make it accessible to those looking to invest in their wellbeing while enjoying the serene coastal views.

Why Bengaluru’s Luxury Housing Sales Have Stalled?

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September 26, 2024

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Why Bengaluru's Luxury Housing Sales Have Stalled?

India’s luxury housing market has been on a roll in the first half of 2024, with sales surging across major cities. However, Bengaluru, one of India’s most dynamic real estate markets, has bucked the national trend, experiencing a notable decline in luxury housing sales. A recent report by CBRE South Asia highlights the national surge in luxury housing demand, driven by factors such as increased affluence, the influx of NRIs, and strategic land acquisitions by developers.

While cities like Delhi-NCR, Mumbai, Pune, and Hyderabad have seen significant growth in luxury sales, Bengaluru has faced a temporary setback. The decline in Bengaluru’s luxury housing sales can be attributed to a reduced supply of luxury properties during the first half of the year. This shortage has limited the options available to affluent buyers, impacting overall sales figures. However, experts at CBRE South Asia remain optimistic about the future of Bengaluru’s luxury housing market.

With the festive season approaching and an anticipated increase in supply, analysts predict a rebound in luxury housing sales in the second half of 2024. Bengaluru’s broader housing market remains strong, with robust sales across various segments. This suggests that the city’s luxury housing market is likely to recover as more projects come online. While Bengaluru’s luxury housing market has faced a temporary slowdown, its overall economic vitality and strong demand for housing make it well-positioned for a rebound. As the city continues to grow and develop, the luxury housing segment is expected to play a significant role in its future.

Luxury and Comfort: Pet-Friendly Resorts in India

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September 26, 2024

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Luxury and Comfort: Pet-Friendly Resorts in India

As the trend of staycations gains traction among Indian travellers, there is an increasing demand for pet-friendly accommodations that allow guests to unwind without leaving their furry companions behind. In response, numerous resorts and hotels across the country have begun welcoming pets, offering an impressive array of amenities and services designed to enhance the experience for both humans and animals alike. Here, we explore some of India’s premier pet-friendly resorts, which promise rejuvenation amid breathtaking landscapes.

Oneness Rishikesh in Uttarakhand stands out as a serene haven for pet owners and their beloved animals. Nestled in the tranquil foothills of the Himalayas, the resort features spacious accommodations and ample outdoor spaces for pets to roam freely. Guests can participate in rejuvenating yoga and meditation sessions while enjoying the natural beauty surrounding them. This sanctuary not only caters to the wellbeing of pets but also promotes a holistic lifestyle, blending relaxation and spiritual growth.

Meanwhile, Forest Hills in Tala, Maharashtra, offers a unique blend of luxury and sustainability. Set against the backdrop of the stunning Sahyadri hills, the resort is constructed using locally-sourced materials and includes a charming petting zoo, enhancing the animal-friendly experience. Pets can join their owners on scenic forest trails, while the resort’s culinary team ensures delightful dining options, including specialty meals tailored for furry guests. This emphasis on sustainability aligns with a growing trend among consumers who seek environmentally responsible travel options.

In Karnataka, the Praana Experience caters specifically to both pets and their owners, ensuring safety with specially designed accommodations featuring sliding nets on doors and windows. This coastal retreat, surrounded by lush coconut trees, provides a refreshing escape for those looking to connect with nature. The thoughtful design not only prioritises the comfort of pets but also highlights the importance of creating safe, inclusive environments for all guests. Lastly, ValleyView Villa in Ranikhet, Uttarakhand, serves as a charming homestay that welcomes pets with open arms. Home to 20 resident dogs, this villa encourages socialisation among pets, allowing them to play and bond during their stay. The on-site café offers delicious homemade treats, making it a perfect spot for both pets and their owners to relax and enjoy the stunning views of the Himalayas. By fostering a sense of community among pet lovers, the villa enhances the overall experience, underscoring the emotional bonds that travellers share with their pets.

Balancing Local Jobs and Global Business Karnataka’s Dilemma

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September 26, 2024

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Balancing Local Jobs and Global Business Karnataka's Dilemma

Karnataka’s recent proposal to enforce job quotas for local residents in the private sector has sent shockwaves through the state’s vibrant real estate ecosystem. The contentious legislation, if implemented, could have far-reaching implications for Bengaluru, a cornerstone of India’s commercial property market.

The proposed bill, which seeks to mandate a 50% quota for management roles and a 75% quota for non-management positions to be reserved for local residents, has sparked concerns among industry experts. They fear that such stringent measures could deter businesses from investing in Bengaluru, leading to a decline in demand for office space and residential properties. Bengaluru’s real estate market is largely driven by the influx of multinational corporations and the burgeoning IT sector. A significant portion of the city’s property demand comes from non-local professionals, particularly those working in the IT industry.

The proposed job quota bill could discourage these professionals from relocating to Bengaluru, impacting the overall real estate market. The legislation has already faced strong opposition from top corporate executives and industry bodies. The Karnataka government, recognizing the potential negative consequences, has temporarily withheld the bill for further deliberation. The proposed job quota bill highlights the delicate balance between fostering local employment opportunities and maintaining Bengaluru’s attractiveness as a global business hub. While the government’s intention is to promote economic inclusivity, the potential risks to the city’s real estate sector cannot be ignored.

The outcome of this policy debate will have a significant impact on Karnataka’s economic landscape. If the government proceeds with the job quota bill, it could lead to a loss of jobs and investment, hindering the state’s growth potential. On the other hand, if the government chooses to abandon the bill, it could signal a commitment to maintaining Bengaluru’s position as a global business destination.

Mumbai Luxury Hotels by Oberoi and Marriott Unveiled

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September 26, 2024

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Mumbai Luxury Hotels by Oberoi and Marriott Unveiled

In a significant move that signals the growing demand for luxury accommodation in India, Oberoi Realty Ltd. and its subsidiary, Incline Realty Ltd., have forged a partnership with U.S.-based hospitality leader Marriott International Inc. The collaboration is set to bring two high-end hotels to Mumbai, with one in Thane and another in Borivali. This strategic agreement will mark Marriott’s flagship debut in Mumbai, further cementing the city’s position as a burgeoning luxury destination.

The JW Marriott Hotel Thane Garden City, scheduled for completion in 2027, will include 280 premium guestrooms and feature three dining outlets, a lobby lounge, and a poolside bar. It will be part of the larger Oberoi Garden City development, a sprawling 75-acre integrated space that also houses luxury residences and the Oberoi International School. The Mumbai Marriott Hotel Sky City, located in Borivali East, will be a major component of Oberoi Realty’s 1.5 million sq ft Sky City Mall, expected to open in October 2025. The hotel will include 280 rooms, three restaurants, and a full-service lounge, providing a comprehensive luxury experience in one of Mumbai’s rapidly developing areas.

This partnership reflects the mutual ambitions of Oberoi Realty and Marriott International to tap into the rising demand for premium accommodations in urban India. Mumbai, known for its fast-paced growth and ever-evolving skyline, continues to attract investments in real estate and hospitality, driven by increasing disposable incomes and evolving lifestyles. The entry of JW Marriott into Thane and Borivali underscores a critical shift in the demand for luxury in India’s growing suburban areas, which were previously overlooked for such upscale developments.

According to Oberoi Realty’s strategic plan, integrating luxury hotels within their larger real estate projects not only enhances the lifestyle quotient for residents but also appeals to international travellers and investors. The collaboration is expected to set new benchmarks in terms of service, design, and overall guest experience, in line with Marriott’s global standards.

Nakul Anand to Lead Tricone’s Luxury Growth

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September 26, 2024

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Nakul Anand to Lead Tricone's Luxury Growth

In a strategic move reflecting its ambitious expansion in India’s hospitality sector, Tricone Luxury Hotels, a subsidiary of US-based Tricone Engineers, has appointed industry stalwart Nakul Anand as the Chairman of its Advisory Board. This appointment is poised to play a crucial role in guiding Tricone’s entry into luxury hotel and real estate markets, particularly with significant developments planned in Alibaug, a sought-after destination near Mumbai. Anand’s extensive experience, spanning over four decades in the hospitality sector, positions him as a key figure to steer the company’s vision.

Anand, known for his leadership at one of India’s premier hospitality brands, brings unparalleled expertise in luxury experiences and operational excellence. His role at Tricone is expected to go beyond conventional advisory responsibilities, providing strategic direction on sustainable luxury projects. Tricone recently signed Memoranda of Understanding (MOUs) with a top Indian hotel brand for three upcoming projects, reinforcing its commitment to creating high-end hospitality experiences with a focus on eco-conscious practices.

This new leadership structure is well-aligned with Tricone’s objectives of blending luxury and sustainability, two elements that are rapidly gaining importance in today’s market. As part of this strategy, the company has secured a substantial land bank in Alibaug for real estate development, reflecting growing interest in locations outside congested urban centres like Mumbai. With Anand at the helm, Tricone is set to differentiate itself in the competitive hospitality market by promoting environmentally responsible yet luxurious experiences for discerning travellers and investors alike.

Tier 2 Cities: The New Real Estate Hotspots

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September 26, 2024

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Tier 2 Cities: The New Real Estate Hotspots

India’s rapid embrace of the work-from-home (WFH) model, accelerated by the COVID-19 pandemic, has sparked a significant migration to tier 2 cities. Traditionally overshadowed by metropolitan hubs, these smaller cities are becoming increasingly attractive due to their lower cost of living, improved work-life balance, and affordable housing options. As employees and businesses seek alternatives to the congestion and high costs of megacities, tier 2 cities have emerged as viable options for sustainable urban living.

This growing trend has caught the attention of real estate developers and state governments, who are seizing the opportunity to invest in these emerging markets. Goa, for instance, is transforming from a tourism-dependent economy into a hub for technology and software exports. Supported by the Software Technology Parks of India (STPI) and government initiatives, Goa’s tech infrastructure is developing rapidly. Across the country, similar initiatives under Make in India are encouraging industries and tech companies to consider tier 2 cities, which often lie along key industrial corridors. Analysts predict that these cities will be instrumental in driving future economic growth and reshaping the real estate landscape.

A crucial element in this development is the Indian government’s commitment to urban infrastructure. The introduction of the Urban Infrastructure Development Fund (UIDF) in the Union Budget 2023-24, managed by the National Housing Bank, marks a major step in addressing infrastructure gaps in tier 2 and tier 3 cities. The UIDF is designed to enhance the quality of urban living, with projects that focus on sustainable and inclusive growth. As a result, real estate markets in these cities are experiencing a resurgence, with developers planning residential and commercial projects in anticipation of rising demand.

Indian Railways to Lease Prime Land for ₹5,000 Crore

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September 26, 2024

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Indian Railways to Lease Prime Land for ₹5,000 Crore

Indian Railways, the country’s largest landowner, is taking a bold step towards commercialising its vast land assets, unveiling plans to lease 341.93 hectares of prime land across major cities to private developers for 90 years. This strategic move is expected to generate a substantial ₹5,000 crore, providing much-needed funds for the Railways’ modernisation efforts. The initiative comes after the national transporter reported a marginal surplus of ₹2,210 crore in FY 2023-24, signalling a need for innovative revenue streams.

Key metropolitan areas have been targeted for this land lease, including 110.46 hectares in Mumbai covering prime locations like Grant Road, Tardeo, Parel, Bandra, and Carnac Bunder. Delhi is also part of the plan, with 58.93 hectares of land identified in prestigious areas such as Chanakyapuri, Lodhi Colony, and Sarojini Nagar. Similar leases will take place in Bengaluru, Secunderabad, Chennai, and other cities, marking a nationwide effort to unlock value from underutilised public assets.

The Railway Land Development Authority (RLDA), tasked with managing the project, has outlined these plans in its 310-page “Opportunities in RLDA” report. According to RLDA, Indian Railways holds roughly 43,000 hectares of unused land, which is not required for operational purposes. The leasing programme is part of a broader strategy to generate non-tariff revenue, aiming to improve public infrastructure at railway stations, build new coaches, and fuel the ambitious redevelopment of railway networks. A significant portion of the generated revenue will be channelled into purchasing Vande Bharat trains, upgrading tracks, and installing cutting-edge safety technologies.

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