SPOTLIGHT: Torbit Realty 30 April 2023

Torbit - April 30, 2023 - - 0 |

Noida Aero City launch Next Year

On the lines of Delhi and Hyderabad Airports, Noida International Airport at Jewar, Greater Noida, will also have an Aero City. This Aero City would come up over 172 acres , housing hotels, restaurants, bars, shopping centres and recreational facilities. The aero city will come up next year when the first phase of the Noida International Airport becomes operational . Already the global Roseate  Hotels and Resorts chain has announced its plans to set up a 220-room  hotel at Noida airport’s aero City.

Blackstone Global Real Estate Fund Raises USD 30 Billion

Global Alternative asset Manager, Blackstone Inc has raised USD 30.4 billion for its latest and biggest ever fund.  The fund named Blackstone real Estate Partners X  is about 48% bigger than its previous fund that closed in pre-covid time in 2019.

Blackstone is the largest owner of commercial real estate globally with USD 326 billion of investor capital under management. In India Blackstone manages total assets worth USD 50 billion including  those in real estate.

India’s First REITs and InvITs Index Launched

NSE Indices limited, a subsidiary of National Stock Exchange has launched the first ever REITs and InvITs Index The new index- Nifty REITs and InvITs Index  aims to track the performance of REITs and InvITs  that are publicly listed and traded on the NSE. With a base value of 1000, the new index will be reviewed and rebalanced on a quarterly basis.

The top constituents of Nifty REITs & InvITs Index include Embassy Office Parks, Powergrid Infrastructure Investment, Mindspace Business Parks REITs and India Grid Trust

M3M India Clocks Rs 13000 crore Sales

NCR headquartered realty major, M3M India has reported the biggest ever sales of  Rs 13000 crore  in FY23, more than doubling its revenue from last fiscal’s figure of Rs 6100 crore. The group is targeting to achieve Rs 20000 crore of sales in FY 24 on account of buoyant residential sector.

Inorder to achieve the high sales target , M3M has planned new launches in FY 24 with about 8-10 ultra luxurious residential and commercial projects in NCR cities of Gurgaon, Noida and Panipat with overall saleable space of about 14-15 million square feet. It will make foray into Noida and Panipat markets besides eying Delhi property.

Godrej Properties  has chalked out plans for the development of new projects with a sales potential of Rs 32000 crore. . For this purpose the realty firm had acquired 18 land parcels last fiscal.

Godrej Properties has added  18 new projects with a total estimated saleable area of 29 million sq ft. These acquisitions were in the form of outright purchase and joint ventures. The company plans to invest Rs 7500 crore over the next 12-18 months. On the sales front too , the company saw its sales bookings rise 56% to Rs 12232 crore  during the last fiscal.

Nexus Retail REIT IPO on the Anvil

Global investment firm Blackstone sponsored NexusSelect Trust  is preparing to launch India’s first retail REIT public offer in early May to raise Rs 4000 crore.

Nexus Select Trust has a portfolio of 17 operational shopping malls across 14 major cities covering 9.8 million square feet area valued at about Rs 23000  crore. This will be the third REIT sponsored by Blackstone . At present  there are 3 listed REITs – Embassy Office Parks REIT, , Mindspace Business Parks REIT and Brookfield India Real Estate Trust. Part of the proceeds of the IPO will be deployed to bring down debt of Rs 4500 crore at the end of June quarter.


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