Mr. Vikas Rikhye,Realtor,Real Estate Blogger and Real Estate Promoter

Despite the fact that countries like U.A.E (Dubai) Australia, New Zealand & others are making best of their efforts to attract foreign investors to invest in real estate sector but the fact remains that US. China & India are the preferred ones’

According to a survey conducted by Association of Foreign Investors in Real Estate (AFIRE), amongst the global investors, US has retained its top position, while China ranked 2nd followed by India ranking 3rd.

It is understood that in the current survey China moved to second place with 21.4%votes & India was preferred by only 16.7%, whereas in 2006, China got 14.6% votes while India had 18% and was ranked in the second position.

The investors confidence seems stronger in China, apparently because of better appreciation chances offered as compared to opportunities in India.

On the other hand, the US, whose economy continues facing the threat of a recession, still managed to retain the ‘most preferred destination´ tag for real estate investment.

Since now India is growing ahead with overall progress in real estate & infrastructure ,we, therefore look forward to its ranking as No-1

Vikas Rikhye,Real Estate Blogger,Real Estate Promoter and Realtor

On 15th Feburary the Government of West Bengal has given possession of 12500 Acres of land (at Nayachar Island) to developer PCR chemical for developing Chemical SEZ

According to sources,PCR Chemicals Pvt Ltd is a joint venture between New Kolkata International Development (NKID) Pvt Ltd and West Bengal Industrial Development Corporation in which the former holds 51% and the latter 49%.

The New Kolkata International Development (NKID) is a consortium between Unitech (40%), Salim Group of Indonesia (40%) and Universal Success of Indonesia (20%). It entered into a development agreement with West Bengal Government for development of mega infrastructure in the State of West Bengal.

Thus it gives a dominating edge to Unitech and the news resulted a positive boost to Unitech in BSE

Vikas Rikhye,Real Estate Blogger

It is observed that Singapore based companies & investors from Singapore are taking a great interest in investing in Real estate in India, as recently a Singapore based developer Ascendas, raised a REIT( Real Estate investment Trust) of about $500 million to invest in India in real-estate market.

It is understood from sources that while DLF, the country’s largest real-estate company is awaiting regulatory approvals to raise over $2-25 billion from Singapore market, for listing its subsidiary DLF office trust , Unitech has already got regulatory approval to raise $700 million (approximately Rupees 2800 crore) through a public offer in Singapore Stock Exchange,The company shall list its subsidiary in Singapore as Unitech Office Trust (UOT) A Real Estate investment Trust (REIT).The sources add that Unitech Limited has appointed Deutsche Bank, JP Morgan & UBS as bankers.

Unitech Limited is already being one of ‘Leaders’ in Indian real estate market has invested in Real estate development project like, Housing, Hospitality, Commercial properties, Education, , IT Parks ,Infrastructure related projects etc.

It seems that now, Unitech Singapore REIT shall acquire initially, SEZ & IT Projects of the company in India which are under construction & shall also review the new commercial projects before construction.. with a strategy of monetizing its stake in most professional method.

One also understands that “REIT in Real estate seems quite similar to “REMF” Real-estate mutual funds which are keenly awaited by Indian Investors.

Unitech Limited aiming to be Number-1 real estate developer is spreading its wings now to South India. I understand from some sources that very soon M/s Untitech Limited would be announcing its two Joint-venture deals in Chennai and Hyderabad .

The sources add that these JVs would have the main focus on Binny land near Perambur in north Chennai & Shamshadabad around Hyderabad. involving over 1,400 acres of prime land.

The sources also highlight the following:

• Unitech would shortly announce its 50:50 joint venture deal with serial entrepreneur Prasad V Potluri’s PVP Enterprises that owns around 1,300 acres of land bank in Hyderabad’s Shamshadabad region.

• In the next few weeks, Unitech may also unveil, a 55:45 joint venture deal for developing 8.8 million sq ft of residential property on the 70-acre Binny land near Perambur in north Chennai, owned by SSI

• It is believed that development on the Binny land alone involves construction of over 5,000 residential flats, besides retail and commercial space. Even at a reasonably price level of Rs 5,000 per sq ft, the sale proceeds of developing 8.8 million sq ft comes to around Rs 4,400 crore.

• It is understood that the environment clearance has been obtained for the project.

With the information perceived as stated above, “Adds a feather in the cap” of Unitech’s progressive approach towards becoming India’s Number One Real estate developer.