Asia Pacific Is Most Improved Region For Real Estate Transparency: JLL

 Asia Pacific made the greatest progress globally in terms of real estate transparency over the past two years, according to JLL’s Global Real Estate Transparency Index (GRETI) 2016. 

The index measures transparency by looking at factors including data availability, governance, transaction processes, and the regulatory and legal environment.

Asia Pacific is a diverse region in terms of real estate transparency. Australia continues to hold the top spot as the region’s most transparent real estate market, and together with New Zealand, is classified as ‘Highly Transparent’.

Overall, improvements in most countries across the region have been small. The biggest improver in the latest survey is Taiwan, which has moved into the ‘Transparent’ category for the first time. More moderate improvements were achieved by Japan, South Korea, India and China, with China’s Alpha cities now on the cusp of the ‘Transparent’ category. At the other end of the spectrum, Myanmar retains the title as the least transparent market in Asia Pacific, although it was amongst the ten biggest improvers globally.

“India has made improvements in overall transparency scores across all markets, and has achieved higher ranks for tier-I, II markets. Improved market fundamentals, policy reforms, and liberalisation of FDI into realty sector and strengthening of information in public domain were main influencers, along with digitization of land records and opening up of REITs,” says Anuj Puri, Chairman & Country Head, JLL India.

India’s low score in transaction process (e.g. high costs of investment transactions, and weak professional standards for local agents) will improve during the 2016-18 assessment period of JLL’s next Transparency Index, on account of enactment of the Real Estate (Regulation and Development) Act and establishing of the real estate regulator.

The major factor driving improvements in Asia Pacific has been the increased availability and quality of market data. For example, Sri Lanka makes a debut in the rankings for the first time and is on the cusp of entering the 3rd tier of markets from its current 4th tier. In some countries improvements have also been seen in regard to performance benchmarking, the enactment of new legislation, the introduction of higher ethical standards, and the wider adoption of ‘green building’ regulations and tools.

“These results are encouraging as they highlight the steady advance of the region’s real estate industry,” says Jeremy Kelly, director, Global Research Programmes at JLL and main author of the report “Taking Real Estate Transparency to the Next Level”.

The launch of GRETI 2016 comes at a time when international institutions, national governments and businesses are demanding greater integrity and clarity in investments and transactions. It reflects a growing recognition of the crucial role that a transparent real estate sector plays, not only as a facilitator of new investment and business activity but also, significantly, in community well-being and inclusiveness, according to the report.

Additionally, capital allocations to real estate are growing. JLL forecasts that within the next decade in excess of US$1 trillion will be targeting the sector globally, compared to US$700 billion now. This growth means investors are demanding further improvements in real estate transparency, expecting standards in real estate to be at least on a par with other asset classes.

“While the region as a whole has shown improvement, most countries in Asia Pacific are still not transparent. There are ongoing examples of poor corporate governance, opaque and corrupt practices and failures in regulatory enforcement that are resulting in serious consequences for society, for business activity and for investment,” says Dr Jane Murray, Head of Research, Asia Pacific.

“Looking ahead, the continued development of the region’s economies and real estate industry will fuel the need for future enhancements in transparency as investor interest rises and the demand for quality buildings and management grows. Regulatory reforms will be essential for further progress in transparency and although public sector initiatives are essential, private sector involvement will also be crucial.”

JLL’s Transparency Index is updated biennially and has been charting the evolution of real estate transparency across the globe for 17 years. The latest survey covers 109 markets worldwide.

Mana Bags Prestigious Awards for Bangalore Projects

Mana Projects Pvt. Ltd. has won the National Awards for Excellence in Real Estate & Infrastructure organised by CMO Asia in partnership with Lokmat at Taj Lands End Mumbai recently for its project Mana Tropicale in Bangalore.

It was not long ago that Mana Projects had won the award for 'The most admired upcoming project of the year' at the Asian Real Estate Leadership Awards in Dubai for the very same project.

Kishore Reddy, CMD, Mana Projects comments on the awards: "The hallmark of Brand Mana is synonymous to the perfect balance between comfort, convenience and the natural environment. We are committed to blend these three things into every project. Our latest project Mana Tropicale is an exclusive collection of apartments with tree hugging balconies and private backyard gardens that are being built amidst nature. The project is on track to change the way the industry looks at responsible development."

The National Awards for Excellence in Real Estate & Infrastructure celebrates the highest level of achievement by companies operating in all sectors of real estate as well as infrastructure industry. The awards recognize, encourage, and promote excellence in real estate developments. Mana Projects, one of the most admired real estate developers of Bangalore, won the Popular Choice Award for ' Preferred Customer Choice Luxury Project of the Year' for its project Mana Tropicale, which is located off Sarjapur Road, Bangalore East.

With over 200 participant companies from India, Mana Projects emerged as one of the promising companies to win this award, which was chosen on the basis of customer preference and various other parameters, including innovation, creativity, optimum use of space and natural light, integration of nature and architecture, etc. 

This award is evidence that this young company is a serious contender in this highly competitive national property arena and has all the necessary qualities to be part of the Big League in the very near future. 

Mana Tropicale. the. 2/2.5 & 3 BHK Premium Apartments off Sarjapur Road, is being developed around the concept of 'living close to the nature'. A blend of nature and design has been Mana's motto in all its developments and Mana Tropicale ensures that this promise is delivered and even takes it a step further by striving to retain the existing flora. 

Mana Tropicale is one of the few Indian projects to integrate nature so extensively by retaining around 690 odd tropical trees in its wide central spine and the beautiful nature screen, which envelops this beautiful property.

The project is house to hundreds of Mahogany, Silver Oak, Casuarina and many more tall tropical trees spread across over 9 acres of green space. One of our customers, Krishna, Sr Manager, Wipro who was a part of the sample research group said, "It is hard to believe that Tropicale is located just 4 km from Wipro, Sarjapur Road." 

DAMAC Properties Launches AKOYA Imagine Targeting Millennials in Middle East

DAMAC Properties, Middle East's leading luxury real estate  developer, has unveiled AKOYA Imagine, a cluster of homes surrounded by the lush greens and fairways of the international golf course. 

Set at the heart of the AKOYA Oxygen master development, AKOYA Imagine presents a collection of colourful villas aimed at young couples and families, representing the perfect permanent residence or vacation home.

In Phase 1, three bedroom villas will be released with starting prices of AED 1.2 million, spread across an attractive three-year payment plan. Homes will also benefit from free service charges for five years. The units will go on sale on Saturday, 9th July in Dubai at DAMAC Maison Canal Views, Al Abraj Street from 11am to 11pm.

As a vibrant community nestled within a wonderful green backdrop, AKOYA Imagine is a neighbourhood for those who are contemporary and relaxed in their style of living. Indoor and outdoor spaces are carefully arranged to offer a casual way of life that blends function with social, family living, and an artful palette of colours. Interiors are open, airy and splashed with zesty hues, which balance warmth with cooling tones, energy with serenity and space with intimacy.

Ziad El Chaar, Managing Director, DAMAC Properties, said: "AKOYA Imagine is targeted towards a new type of buyer - young, professional and savvy to the lifestyle and financial benefits of buying in an international golf course community. This type of community is proven to consistently yield higher returns than a purely residential one and there is a limited supply in Dubai. Combined with the Tiger Woods Design element, a villa in AKOYA Imagine presents a very lucrative investment, not to mention an extremely attractive home."

Supporting El Chaar's statement, advisory firm KPMG stated in a recent report that golf courses typically increase the valuation of adjacent real estate by up to 20% when compared to similar real estate in a neighbourhood without the golf course component. 

AKOYA Oxygen is a 55-million-square-foot master development that will showcase the greenest living spaces in Dubai. Home to the 18-hole championship golf course by Tiger Woods Design, the eagerly anticipated development boasts easy access to Dubai's major highways; yet is far enough away from the bustle of the city to offer a tranquil pace of life in a beautiful green setting.

Sobha Enters Delhi-NCR with First Luxury Apartment Project in Gurgaon

Leading property developer Sobha Limited has launched its first luxury apartment project, Sobha City in Delhi-NCR. The project is one of the largest group housing projects in Gurgaon which will offer best-in-class living experience to the customers.

Located in sector 108 of Gurgaon, the project is much sought-after due to its close proximity to Delhi and Indira Gandhi International Airport.

Sprawled over 39 acres, Sobha City comprises of 1700 apartments across 22 towers with four units on each floor. The project offers 2BHK and 3BHK apartments that range from 1380 sq. ft. to 2342 sq. ft. Each unit is functionally planned with well-designed layouts and optimally-sized living spaces. With 85 per cent open spaces, it offers an abundance of amenities along with a magnificent view of the surroundings.

Speaking on the eve of the occasion,  JC Sharma, VC & MD, Sobha Limited, said: “Over the years, Gurgaon has developed and transformed into a leading financial and industrial hub in India. It not only boasts a presence of over 250 Fortune 500 companies but also caters to a population having third highest per capita income in the country. This has augmented the demand for luxury homes that meets the aspirations of people in the Delhi-NCR region. Additionally, Gurgaon being one of the fastest growing realty markets, offers high capital appreciation, making it a lucrative investment option. Sobha City aims to fulfill the desires of quality conscious and value discerning customers. More importantly, the project underscores promise of international quality luxury, style, and comfortable living.”

Jagadish Nangineni, Regional Head - NCR, Sobha Limited said: “Sobha City, Gurgaon is the first luxury apartment project from the house of Sobha. With this launch, we will have a product mix that will offer homes of all sizes in NCR region – 2 & 3 BHK apartments in Sobha City and villas at International City. Sobha City has been meticulously planned keeping customer’s core requirements in mind for a luxurious community living – both in terms of the apartment and amenities. These apartments are designed with a good balance of functionality, aesthetics and luxury. The amenities are the best in class - open grounds, parks, large water bodies and two clubhouses. Sobha City is going to be a landmark community development owing to its scale of development, shape of the land and location which is on the edge of Delhi.”

The common amenities at Sobha City include a large cricket ground having 45m radius, a lakelet, two oval club houses measuring 40,000 sq.ft with multipurpose halls, cafe, entertainment room, children’s play area, library, and cards room. In addition, it also offers multiple lawns and parks, specially designed camping grounds, paved pathways, swimming pool, cricket stadium, green landscaped outfield with more than a kilometre long walking and biking trail, designer landscaped greens and other amenities that match the pace and standard of living of today’s smart customers.

Embassy Becomes Co-developer for 30 Acre Chennai SEZ

Embassy Group, India’s leading property developer, has received approval from the Board of Approval to act as exclusive Co-Developer for the Notified SEZ at Chennai previously known as SNP Infrastructure Private Limited.

The project, a 30 acre SEZ property near Vel’s University on Thoraipakkam-Pallavaram radial road in Chennai will be known as Embassy Splendid TechZone.

The Bhoomi Pooja held on June 15 was attended by Embassy Group and SNP Infra team members. Phase 1 of this project will be 2 million sq. ft. is expected to be completed in 2019.

Talking on the MoU, Jitu Virwani, Chairman and Managing Director, Embassy Group, said, “We are excited to move ahead with this new partnership and add it to our existing multi SEZ portfolio. With this, we plan to strengthen our foothold in Chennai, a city with tremendous growth potential and a key market for our business. We share great synergy with SNP Infrastructure and look forward to having a longstanding relationship with them.”

Speaking on the occasion, Mike Holland, CEO Embassy Office Parks said, “Embassy Splendid Tech Zone, Chennai is strategically located less than 4 km from the Chennai airport, easily accessible from both OMR and GST roads, and served by Pallavaram & Velacherry railway station with strong local and residential neighbourhoods which can cater to, and benefit from, the planned IT SEZ. The location is elevated which gives natural protection from flooding and support to business community needs. Corporate occupiers could not wish for a more strategic location. We are already seeing strong demand from both residential and commercial users in this location.”

PR Gopal Raju, Chairman, SNP Infrastructure said, “We are happy to partner with Embassy Group for this venture and we look forward to recommencing construction of our first 2 m sq. ft. of SEZ offices at the earliest.”

Recently two of the existing Embassy SEZ’s in Bangalore were acknowledged as “Best Performing SEZs in India”. Embassy Manyata Business Park promoted by Manyata Promoters Private Limited and Embassy TechVillage promoted by Vikas Telecom Private Limited have been awarded with Certificate of Excellence by the Ministry of Commerce and Industry. Embassy Manyata Business Park and Embassy TechVillage were both notified as Special Economic Zones in 2006 and both have lived up to the objectives of the SEZ regime, which is to promote infrastructural development, generate employment, promote exports. These awards further acknowledge the market leading performance of the Embassy SEZ’s.

As on March 2016, Embassy has developed three SEZ’s with total investments of around Rs4700 Crore, with built up areas of 9.8 m sq. ft., generating 172,000 direct jobs, within 84 SEZ Units, and exports approximately Rs. 67,000 Crore.

Rohan Lifescapes Unveils Mobile-friendly Property Website

Rohan Lifescapes, a premier real estate company specialising in redevelopment, has launched a new 'Mobile-first' version website in line with the company’s digital initiatives as part of its Vision 20:20 corporate program.

Speaking on the occasion,  Harresh Mehta, CMD, Rohan Lifescapes opined, "We have been going through a realignment and restructuring phase. The launch of the new website marks the onset of the change we wish to usher in. As we move forward our sole endeavor is to be a company that adds value to customers by easing the process of home buying by leveraging new age immersive and intuitive technologies that help them to visualize and thereby realize their dream."

Breaking away from the normal and adding a twist in a routine launch is the launch of the mobile-first version of the website, which is then adapted to the other platforms. The website is one of the few 'fully hand-coded' HTML5 and CSS 3 website that add in that new refreshing touch and is also an absolute customized creation thereby enabling scalability at a future stage. The meticulous UI (user interface) combined with sophisticated and robust front-end development act as catalyst in countering routine web ranking hurdles.

The company aims to be represented digitally and driven by technology that leverages the best consumer immersive platforms to enhance customer experience and drive engagement. The company is also in talks with premier global companies that offer such solutions.

Apart from attention to detail on the User Experience (UX), the website also boasts of imagery that is not only visually appealing, but by virtue of the development method adopted is also technically sound in performance arenas of faster loading, smart optimization and responsive adaptation to name a few.

Gyandip Bhuyan, Sr. VP - Sales, Marketing and CRM said, "The launch of new website is in line with our vision. The mobile-first version launch is backed by significant data that today consumers spend more time on their mobile phones. Thus it only made more sense to address this audience and engage them with the brand in a format that they will appreciate and accept. The research insights implemented stand testimony to the changing trends in online medium that is evolving everyday and we have laid special emphasis on minimizing gaps between the user and the interface by offering a friendly user experience."