Wednesday, August 30, 2006
Real estate sensitivity index launched
Real estate sensitivity index launched
Real estate rating and research agency Liases Foras has launched the country's first real estate sensitivity index - Ressex. The index, to be updated every quarter, factors price, availability and supply of real estate juxtaposed with demand, to figure out the efficiency quotient of pricing, Pankaj Kapoor, chief executive officer of the company, said in Mumbai. Depending upon the requirement of the market, it would be updated every month.
``Ressex is the numeric representation of potential and variation of the real estate industry. It enables to view the market potentiality in macro to the micro perspective,'' he said.
Claiming that the index would be a ``helpful'' tool for real estate investment, Mr. Kapoor said the impact of price variation, interest rate variation, change in government policies and other factors could be measured through the Ressex.
``It will represent the organised outlook of real estate market, which will be useful for suppliers, consumers, financial institutions, developers and landowners,'' he claimed.
Construction firm to raise FII limitConstruction company Madhucon Projects Limited has decided to increase the limit of investment by Foreign Institutional Investors (FIIs) to 40 per cent. The company informed the Bombay Stock Exchange that the AGM held recently approved the proposal to raise the FII limit to 40 per cent. A borrowing limit of up to Rs 2,000 crore and an investment limit of up to Rs.500 crore were also approved by the shareholders at the meeting, the company said.
Singapore's tallest retail mall
The construction of Singapore's tallest retail mall, Orchard Central, is likely to be completed by the end of 2008, according to a Channel NewsAsia report.
Located near the east end of the Orchard Road, Singapore's key shopping belt, Orchard Central will have 12 levels, including two basements, which are to render some 290,000 square feet (about 27,000 square meters) of retail space.
New brands are expected to open retail outlets in the mall, which will be developed by the Far East Organisation, while the rooftop will become a food centre, the report said.
