Morgan Stanley Real Estate raises $8b realty fund
Thursday, June 21, 2007
Morgan Stanley has raised the biggest property fund ever, an $8 billion warchest, to invest in established global markets including Japan and Europe as well as emerging countries such as China, India and Russia.
The Morgan Stanley Real Estate Fund VI, supplemented with borrowing, would have buying power of more than $30 billion, the US investment bank said.
Its portfolio would include real estate assets and companies from emerging markets including property investments in India, China, Russia, Turkey and Latin America, as well as developed markets including Japan, Western Europe and Australia.
Morgan Stanley became an active investor in Asia’s property markets by snapping up distressed assets in Japan and China, and has now moved into India by taking stakes in ambitious property developers.
Its deals are getting bigger. Morgan Stanley said last month it would buy Australia’s Investa Properties for $3.9 billion, picking up an office portfolio worth $3.4 billion.
In April, the bank’s real estate arm bought 12 hotels and two property management units from Japan’s All Nippon Airways for $2.4 billion. Property markets have climbed almost across the board over the past three years, with global direct investment last year jumping 38% to $682 billion, according to consultants Jones Lang LaSalle.
Morgan Stanley Real Estate has bought $83.5 billion of real estate assets globally through its funds. Its last fund, MSREF V, closed in September last year with $1.75 billion in equity.
Labels: Indian Real Estate Forum
Author: Rakesh Malhotra » Comments:
8th India Property 2007 to be held in Dubai
Tuesday, June 12, 2007
The 8th India Property 2007 - Dubai being organized by The Confederation of Real Estate Developers Association of India (CREDAI) and Maharashtra Chamber of Housing Industry (MCHI) will be held at Dubai Renaissance Hotel, Dubai from June 14 – 16, 2007.
India Property 2007, Dubai will have some of the biggest names in the Indian real estate industry, showcasing both residential and commercial properties. Leading developers from places like Mumbai, Navi Mumbai, Pune, Nashik, Goa, Bangalore, and Hyderabad among other places would be participating.
This exhibition is supported by the Ministry of Urban Development, Government of India, with LIC being co-sponsors.
There are an estimated One million Indians residing in the UAE with Dubai being the hub of commerce and industry, and increasingly developing as a major hub for service industries such as IT and Finance. NRIs in Dubai are well placed in society and command the respect of the local people due to their industrious nature and diligence in duty. Asian expatriates account for more than 75% of UAE population with over 40% under 25 years of age. NRIs in Dubai are high net worth individuals, which makes them a potentially rich market for real estate investments in India.
Last years Dubai Property show 2006 was a huge success. The 3 day event saw some very serious and focused visitors at the exhibition, which translated into actual bookings rather than just enquiries. All exhibitors were delighted with the response they received and business generated at the close of the property exhibition.
CREDAI and MCHI ensure complete transparency and assurance to the customers throughout the entire transaction and guarantee them the amenities and specifications as promised during the deal. In the event of any dispute the consumer can approach CREDAI to assist them in resolving the same.
CREDAI: Confederation of Real Estate Developers Association of India (CREDAI) – is the apex body representing associations of real estate and housing developers from all over India. Its purpose is to promote housing and real estate developments in an organized and cohesive manner and provide a liaison with government bodies to effectively represent the views and needs of the industry. It has more than 3000 members spread over more than 17 states in India.
MCHI: MCHI is a member of CREDAI and India’s premier housing and developers associations in India. Established in 1982, in Mumbai, the commercial and construction capital of India, MCHI has a membership of 450 leading developers who account for 90% of the housing supply in Mumbai and its vicinity.
Source:clickpress.com
Author: Rakesh Malhotra » Comments:
DLF to launch Rs 3,000 cr housing projects in B' lore
Wednesday, June 06, 2007
Real estate firm DLF Ltd will invest Rs 3,000 crore in two mega housing projects in Bangalore. DLF Commercial Developers Ltd chairman A S Minocha told FE that the projects would come up in prime locations in the city -- 80 acre in Beanerghatta and 120 acre in Electronic City.
Both the projects would house 10,000 apartments. The first phase of the projects with around 2,000 apartments would be ready for occupation in the next 24-30 months period.
Currently, the company is developing a mall with a budget hotel with an estimated project cost of Rs 1,000 crore in Whitefield area near Bangalore.
DLF is expected to raise Rs 8,750 crore to Rs 9,650 crore through its public issue of 17.5 crore equity shars this month. Of the net proceeds of the issue, the company would pump in around Rs 3,500 crore for developing existing projects while the same size of funds would be utilised for acquiring lands and developments rights for new projects.
A major chunk of money raised through the public issue is expected to be injected in its existing projects in Gurgoan, Chennai, Hyderabad and Bangalore. In addition to the two new housing projects in Bangalore, he said the company would also launch another apartment project in Chennai.
DLF has already acquired 130 acres in OMR Road in Chennai to construct 6,000-7,000 apartments with an estimated investment of Rs 1,800 crore.
Labels: Bangalore Real Estate
Author: Rakesh Malhotra » Comments:
Chandigarh real estate prices touching Sky
Tuesday, June 05, 2007
The scarcity of land along with the rise in demand for retail space has contributed in price hike of
Chandigarh commercial properties by over 40 per cent in the last six-months. The hike has come as a windfall for the upcoming multiplex projects and a string of industrial and traditional movie theatres are lined up to turn into commercial complexes.
The city has come shoulder to shoulder with metros in terms of going rentals as that rentals are brimming Rs 600 per square feet at the prime locations. The realtors are seeing the place as the retail goldmine as the city leads in terms of per head earning and spending in the country. And most brands are ready to pay hefty rentals as the price of commercial properties is expected to remain firm in future as well.
The hike is clearly due to aggressive retail real estate expansion by majors like Reliance Retail, Subhiksha and the 'sought after brands' that are jostling to acquire additional retail space here. While most retailers are looking to lease the space, Reliance Retail is believed to be on hunt for outright purchase of space to avoid the high rentals. Some renowned hospitality groups are also believed to be on prowl to buy few properties here to launch hospitality projects here.
Sources in the UT Administration informed that the around 30 industrial units have already applied under the conversion policy and are altering into commercial businesses. Sources claimed that a number of industrial and commercial units in industrial area in Chandigarh are likely to benefit under the change of land use policy introduced by UT Administration due to warm response to on going projects.
Tremendous response of denizens to twho are more than ready to take up such projects in the city.he first multiplex in the city , Fun Republic, have interested many private developers
Sources informed that leasing price of the premier locations in the multiplex varies from Rs 550 per square feet to Rs 150 per square feet.
Apart from the two malls-cum-multiplexes are likely to come up an integrated housing cum commercial project being undertaken by Parsvnath, most of the traditional movie theatre owners are set to change to multiplexes, sources in UT Administration revealed.
Labels: Chandigarh Properties, Commercial Real Estate, Retail Real Estate India
Author: Rakesh Malhotra » Comments:
