In the 1990s retail industry players lived in the mortal fear that online shopping and marketing portals would decimate them. Many internet experts predicted that website-based transactions will see the end of people moving out of their house to buy from shops. The 3D technology, secure transaction gateways and home delivery were slated to be a killer concept that would change the way people buy everything. But today we are older and wiser. Today, Indian players in organised retail business think that 100% foreign direct investment (FDI) in multi-brand malls will kill their prospects as well as their business. The fear is misplaced for many reasons. No foreign player has been able to replace an Indian market leader if the latter has been competitive in his offerings. But conversely, foreign players have also usurped the market leader position from Indian monoliths, which tend to carry a lot of luggage. The commerce ministry’s proposal to allow 100% FDI in multi-brand retail will open the doors for the likes of Wal-Mart and Tesco. Nonetheless, the ministry has suggested stiff local sourcing requirements and mandatory investments in backward linkages for all such foreign entrants. More >
Dominant Residential Brokerage in Australia, New Zealand Readies to Extend Leadership into Commercial Brokerage Under NAI Harcourts Flag
The presentations of NAI Harcourts to the 2010 Harcourts conferences in Christchurch, New Zealand, and in Gold Coast (south of Brisbane), Queensland, Australia, were very well received. Harcourts franchisees currently doing commercial agency work as Harcourts Commercial and some new potential NAI Harcourts franchisees are lining up to hit the ground running as NAI Harcourts rolls out its joint venture over the summer. NAI Harcourts combines the Harcourts boots on the ground in Australia and New Zealand with the international commercial property name and reach of NAI Global to create the new contender in the commercial property market in Australia and New Zealand. More >
The world’s third largest chemical company, UK-based INEOS is looking at options of setting up a catalyst unit in a special economic zone (Dahej SEZ) in Gujarat.
Senior officials from INEOS’ US and UK offices have visited the site recently to set up their project. The cost of the project would be about Rs1,000-crore ($222 million) initially and the operation would cater to the company’s clients in the eastern part of the world. More >
Real estate companies, which have planned big-ticket initial public offerings (IPOs) last year, are staying away from the market in spite of the prevailing favourable secondary market conditions. Though many small IPOs were enthusiastically lapped up by investors, real estate firms are sitting on IPO plans worth over Rs12,000-crore [$2.6 billion].
Sahara Prime City (Rs3,850-crore or $854.7 million), Emaar MGF (Rs3,450-crore or $765.9 million), Lodha (Rs2,800-crore or $621 million) and Ambience (Rs 1,125-crore or $250 million) are some of the major real estate players which announced their IPO plans last year, but are yet to launch. More >
The industrial property market is heating up in India. Global companies are considering India as a manufacturing hub for their operations in Asia due to the comparatively low cost of labor (skilled & unskilled), readily available talent pool, improving infrastructure, establishment of Special Economic Zones, tax incentives, concessional power tariffs across various states, multiple sea ports, new airports, and the government’s focus on the industrial development of economically backward states/cities. More >