New Delhi, April 3 (IANS) India’s booming realty space is increasingly seeing the emergence of real estate investment trusts (REITs) as one of the most viable options for raising funds, a leading industry body says. The global REITs market is set to become a $70 billion market by 2010 and emerging in a big way in India and other developing nations, says a study by the Associated Chambers of Commerce and Industry of India (Assocham) and Credit Rating Information Services of India Limited (Crisil).
The emergence of REITs in the Indian real estate industry will also enable developers attract retail as well as corporate investors, according to the study.
“Currently only venture capital funds have been allowed to offer real estate funds,” said Assocham president Venugopal N. Dhoot in statement Thursday.
In the Indian context REITs can help provide an exit route for developers to revolve funds more efficiently.
This will also provide opportunities to retail investors to participate in the real estate sector and provide asset diversification to corporate investors, besides building a vibrant secondary real estate market.
At present, the global REITs market comprises 491 trusts across 19 countries of which US accounts for over half the share, followed by Australia.
Australia’s market is not stringently regulated compared to other global REIT systems, evidenced by there being no listing requirements, gearing or interest coverage limits, limits on developments and restrictions on diversification and ownership or management.
http://www.thaindian.com/
Thursday, April 3, 2008
US real estate company sells Master Franchise for Angola
Century 21 Real Estate LLC, a US based real estate company, has sold its Master Franchise for Angola. Two Portugal based company's, Gestipromo-Prestacao de Serviços de Promoção de Vendas e Marketing and Crismonte-Sociedade de Mediacao Imobiliaria, have become joint partners to buy the Century 21 Angola Master Franchise rights.
"My team and I are excited to bring the Century 21 brand to our country," said Fernando Guerreiro da Ponte, Director of Century 21 Angola. "We look forward to leveraging the outstanding systems and tools that Century 21 has developed over the past three decades, and creating a network that delivers the dream of home ownership to people throughout Angola."
Tom Kunz, Century 21 Real Estate LLC President and CEO, adds: "The addition of Angola to the Century 21 System is a tremendous step for this brand, and we look forward to growing our global footprint. The Century 21 System has made international growth one of its key initiatives and establishing this agreement in Angola is another positive step toward that goal."
http://www.franchise-international.net/
"My team and I are excited to bring the Century 21 brand to our country," said Fernando Guerreiro da Ponte, Director of Century 21 Angola. "We look forward to leveraging the outstanding systems and tools that Century 21 has developed over the past three decades, and creating a network that delivers the dream of home ownership to people throughout Angola."
Tom Kunz, Century 21 Real Estate LLC President and CEO, adds: "The addition of Angola to the Century 21 System is a tremendous step for this brand, and we look forward to growing our global footprint. The Century 21 System has made international growth one of its key initiatives and establishing this agreement in Angola is another positive step toward that goal."
http://www.franchise-international.net/
Friday, February 15, 2008
Women are rocking the real estate world
Real estate and transport were considered two areas where women had no place or role to play. Both these professions were thought of as the untouchable bastions of the male. Many gutsy women, however, have now started making their presence felt in the real estate world.They have made a quiet entry into this field, slowly, but with a lot of promise.
Kajol Makhijani is a very respected name in the rental market of South Delhi. She only deals in accommodations for executives of MNCs and diplomats. "I never thought I would work as a real estate agent till I got married and came to Delhi. Not many people will believe that before my marriage, I was a journalist in Ranchi, working for an English newspaper. As I came here after marriage,I saw my husband's flourishing real estate business. And, I started by helping him in collecting the data of flats and floors available for rentals purpose," says Kajol.
Even though Uma Aggarwal wants to join the real estate world, after a course as an architect from the School of Planning and Architect, Delhi, there was no real plan to start her own real estate firm. So, how did she get down to it? Sitting in her plush Rajdhani Enclave office in East Delhi, Uma says her husband Bharat Aggarwal was a civil engineer. He was doing some construction work here, and she was supporting him,when,all of a sudden,he passed away.Her two sons were not even five years old at the time.
"I did not know what would happen to my kids and me. Then, one day, my father-inlaw asked me to take over my husband's business. Since then we have built over 50 commercial and residential buildings in Delhi and NCR region. Many ambitious projects are in the pipeline," she narrates proudly.
Those who know the world of real estate closely can tell you that this is a very rugged world. Only those with a heart of steel can survive. Gender is not the issue. Kajol says that as an exjournalist , she misses the charm of bylines,sometimes,and then she realizes that now real estate is her calling.
Nutan Kapoor is another lady into real estate business in East Delhi.Says Nutan: " As my husband is a small-time businessman, I though of doing something worthwhile five years ago. After a discussion with my husband, I stated this job out of my home.My active role as a social worker in my area has really helped me in getting established," Nutan says,who now has two employees.
"I feel that my first job is to provide the best of products to our customers.That is my motto in life," says Uma She looks after the designs of all the projects,apart from attending auctions of land by government agencies.
http://economictimes.indiatimes.com/
Kajol Makhijani is a very respected name in the rental market of South Delhi. She only deals in accommodations for executives of MNCs and diplomats. "I never thought I would work as a real estate agent till I got married and came to Delhi. Not many people will believe that before my marriage, I was a journalist in Ranchi, working for an English newspaper. As I came here after marriage,I saw my husband's flourishing real estate business. And, I started by helping him in collecting the data of flats and floors available for rentals purpose," says Kajol.
Even though Uma Aggarwal wants to join the real estate world, after a course as an architect from the School of Planning and Architect, Delhi, there was no real plan to start her own real estate firm. So, how did she get down to it? Sitting in her plush Rajdhani Enclave office in East Delhi, Uma says her husband Bharat Aggarwal was a civil engineer. He was doing some construction work here, and she was supporting him,when,all of a sudden,he passed away.Her two sons were not even five years old at the time.
"I did not know what would happen to my kids and me. Then, one day, my father-inlaw asked me to take over my husband's business. Since then we have built over 50 commercial and residential buildings in Delhi and NCR region. Many ambitious projects are in the pipeline," she narrates proudly.
Those who know the world of real estate closely can tell you that this is a very rugged world. Only those with a heart of steel can survive. Gender is not the issue. Kajol says that as an exjournalist , she misses the charm of bylines,sometimes,and then she realizes that now real estate is her calling.
Nutan Kapoor is another lady into real estate business in East Delhi.Says Nutan: " As my husband is a small-time businessman, I though of doing something worthwhile five years ago. After a discussion with my husband, I stated this job out of my home.My active role as a social worker in my area has really helped me in getting established," Nutan says,who now has two employees.
"I feel that my first job is to provide the best of products to our customers.That is my motto in life," says Uma She looks after the designs of all the projects,apart from attending auctions of land by government agencies.
http://economictimes.indiatimes.com/
Director thinks real estate has a few years to go
According to Richard Leech, Director of CB Richard Ellis Hanoi Branch, Vietnam’s real estate market will only see big changes in two or three years, not in 2008, in an interview with Thoi bao Kinh te Vietnam.
Many asked Mr. Leech if he thought 2008 will be the year of banks and real estate, he says that 2008 will certainly be the year of banks, but not property.
2008, like 2007, will witness the groundbreakings of a series of major real estate projects, including Vincom City Tower 2, BIDV Tower, Crown Plaza, the Keangnam Hanoi Landmark Tower, The Landmark, CEO Tower, Indochina Plaza, and these are just those in Hanoi.
The projects will only be completed and become operational in two or three years, and the real estate market will see big changes by that time.
Vietnam’s real estate market, like other markets around the world, is influenced by many factors: the rule of supply and demand, the oil price increases, Vietnam’s WTO membership and the stock market fluctuations. Besides, it is also influenced by other factors, such as the limited land fund, poor infrastructure and problems in investment procedures.
Mr Leech thinks that the real estate market will develop rapidly in 2008 and in the coming years. In 2008, prices will increase sharply as the supply still cannot meet the demand. Not many real estate projects will be put into operation in this year.
He said that Vietnam’s real estate market is big enough for every investor. CBRE has been operating in Vietnam for five years; they have 10 employees working in their office in HCM City and 40 employees in Hanoi. The company is also planning to operate in other big cities, including Hai Phong, Da Nang, Nha Trang and Can Tho.
Besides foreign invested real estate firms, Vietnamese big groups like Viglacera (specialising in construction materials), FPT (Information Technology), Bitexco all have set up the companies in charge of real estate development projects. This shows big potentials of Vietnam’s real estate market which is has opportunities for everyone.
According to Mr Leech, there are three biggest problems in the real estate market 1. the limited land fund in the central area 2. the high land prices and 3. the poor infrastructure and the difficulties real estate project access.
However, he believes that the Government of Vietnam and relevant ministries will take suitable measures to settle the problems. For example, the Government is considering allowing foreigners to buy houses in Vietnam.
Many people fear that if the plan on allowing foreigners to purchase houses in Vietnam becomes true, the real estate prices would continue skyrocketing. However, Thoi bao Kinh te Saigon quoted Marc Townsend, CBRE Managing Director as saying that this will only have a little impact on the market.
He said that the number of foreigners eligible to purchase houses in Vietnam will not be high, several hundred, or may be several thousand. Therefore, the scenario that big sums of money from Hong Kong or Singapore flow to Vietnam to pay for house purchasing deals will not occur.
In fact, many foreigners are considering purchasing houses in Vietnam, but they still have to consider profit potential and the taxes.
Mr. Townsend does not think that the potential decision by the central bank to limit the lending to real estate investors will seriously affect the market. In fact, Vietnamese people do not invest in the real estate market with bank loans, but they use their own money and gold. People still want to buy more land and houses for resale because they believe the value will continue going up.
According to him, the trend of thousands lining up to purchase apartments, which was seen in 2007, will repeat in 2008.
http://www.vneconomy.com.vn/
Many asked Mr. Leech if he thought 2008 will be the year of banks and real estate, he says that 2008 will certainly be the year of banks, but not property.
2008, like 2007, will witness the groundbreakings of a series of major real estate projects, including Vincom City Tower 2, BIDV Tower, Crown Plaza, the Keangnam Hanoi Landmark Tower, The Landmark, CEO Tower, Indochina Plaza, and these are just those in Hanoi.
The projects will only be completed and become operational in two or three years, and the real estate market will see big changes by that time.
Vietnam’s real estate market, like other markets around the world, is influenced by many factors: the rule of supply and demand, the oil price increases, Vietnam’s WTO membership and the stock market fluctuations. Besides, it is also influenced by other factors, such as the limited land fund, poor infrastructure and problems in investment procedures.
Mr Leech thinks that the real estate market will develop rapidly in 2008 and in the coming years. In 2008, prices will increase sharply as the supply still cannot meet the demand. Not many real estate projects will be put into operation in this year.
He said that Vietnam’s real estate market is big enough for every investor. CBRE has been operating in Vietnam for five years; they have 10 employees working in their office in HCM City and 40 employees in Hanoi. The company is also planning to operate in other big cities, including Hai Phong, Da Nang, Nha Trang and Can Tho.
Besides foreign invested real estate firms, Vietnamese big groups like Viglacera (specialising in construction materials), FPT (Information Technology), Bitexco all have set up the companies in charge of real estate development projects. This shows big potentials of Vietnam’s real estate market which is has opportunities for everyone.
According to Mr Leech, there are three biggest problems in the real estate market 1. the limited land fund in the central area 2. the high land prices and 3. the poor infrastructure and the difficulties real estate project access.
However, he believes that the Government of Vietnam and relevant ministries will take suitable measures to settle the problems. For example, the Government is considering allowing foreigners to buy houses in Vietnam.
Many people fear that if the plan on allowing foreigners to purchase houses in Vietnam becomes true, the real estate prices would continue skyrocketing. However, Thoi bao Kinh te Saigon quoted Marc Townsend, CBRE Managing Director as saying that this will only have a little impact on the market.
He said that the number of foreigners eligible to purchase houses in Vietnam will not be high, several hundred, or may be several thousand. Therefore, the scenario that big sums of money from Hong Kong or Singapore flow to Vietnam to pay for house purchasing deals will not occur.
In fact, many foreigners are considering purchasing houses in Vietnam, but they still have to consider profit potential and the taxes.
Mr. Townsend does not think that the potential decision by the central bank to limit the lending to real estate investors will seriously affect the market. In fact, Vietnamese people do not invest in the real estate market with bank loans, but they use their own money and gold. People still want to buy more land and houses for resale because they believe the value will continue going up.
According to him, the trend of thousands lining up to purchase apartments, which was seen in 2007, will repeat in 2008.
http://www.vneconomy.com.vn/
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