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Global Property Shows In Gulf

The 23rd and 24th Worldwide Property and Investment exhibitions respectively took place in Bahrain on October 5 and 6 and in Dubai on October 8 and 9. The events organized by Dubai Show Ltd, offered the investors and buyers an excellent opportunity to see for themselves the global developments in the real estate industry. Over 35 property developers from across the world participated in the realty shows. For the first time, Poland, Hungary, Czech Republic and the Baltic States took part in these events. There were 16 other participants from countries like Australia, France, USA, UK, New Zealand, Egypt, Sri Lanka, Thailand, Dubai, Saudi Arabia, Brazil, Spain and North Cyprus.

With the property industry booming, the twin shows witnessed an upsurge of demand for reliable investments, away from the world’s stock markets, in international property. This was also an ideal opportunity for sale of property and promotion of services, or for arranging a local agent to boost business. The exhibitors consisted of, besides developers, a large number of agents, banks, mortgage companies, financial advisers, solicitors and relocation agents.

Saeed Chinoy, managing director of Dubai Shows Ltd was upbeat about the exhibitors and visitors response. Says he, “The Middle East is flush with funds both because of repatriation of vast amounts of money from previous investment havens and the huge increase in oil prices. As such the region is seeking reinvestment in regional and global property in a big way. Our organization has been working hard to encourage the international developers to consider marketing their projects in the Gulf.”

Furniture Fundas

INDEX 2004 and INDEX Inter-Furn, the twin furniture fairs organized by Universal Expositions in Mumbai from October 13 to 17, in their entirety represented the country’s hardware, the intermediates and the wood working machinery.

INDEX Inter-Furn, supported by the All India Hardware Association, exhibited the best of furniture hardware, intermediates such as laminates, paints, plywood and adhesives apart from woodworking tools and machinery.

This time the fair showcased over 50 renowned foreign companies who launched the latest designs and trends in the furniture and lighting industry. The European companies came under the banner of Federlegno Arredo, Milan, the largest federation of all furniture associations of Italy with a country participation of 16 companies. Lecong Furniture Association sent 10 firms from China, besides individual participation of Taiwan, Malaysia and Pakistan.. Malaysian Timber Council pavilion at INDEX Inter-Furn displayed the high quality timber from that country.

The leading Indian participants in the residential furniture segment included, Krome, Style Spa, Vishwa Impex, Rubberboard, Faber, Kaff, Huzaifa Décor, Sanjar, Aran Cucine, Zuari, Kitchen Grace, Akruti, Bharat, B.P Techno, Crystal, Overseas Connexion, Royal Décor, Woods India. The office furniture segment was represented by Godrej and Boyce, Design Edge, V3 Engineers, Rigid Global, Amardeep, OMP Components and Sanghvi.

INDEX fairs normally provide the best platform for manufacturers and importers of furniture, furnishing and lighting, as well as specialist contractors to display their products and the scope of their activities to the visitors. The latter consist of architects, builders, interior designers, project managers, corporates, retail chains, distributors, wholesalers and government purchasers. About 1,25 lakh visitors including top architects and builders like Hiranandanis and Rahejas and celebrities like film actress Archana Puran Singh and Kitu Gidwani and former Miss World Yukta Mukhi visited the fairs. The participants, besides those from India, came from Europe and South East Asia, covering both ends of the product spectrum. INDEX 2004 had a concurrent seminar in association with Consorzio Nuovi Mercati, Milan, and the Italian Trade Commission.

Brisk Business at HT Estate Expo

Hindustan Times organized a mega property show, called HT Estates Expo-2004 in association with ICICI Bank and 93.5 Red FM in Delhi. It brought together financial institutions and real estate builders and a few well-known banks like HDFC, ABN AMRO, Standard Chartered and Vijaya Bank. The highlight of the two-day event was on-the-spot sanction of loans.

To make the deal more attractive, the ICICI had also organized a “Wheel of Fortune” where exciting prizes like home theatres were up for grabs. According to a senior HDFC executive, the special rate of interest offer by all participating HFIs, which slashed it to 7 percent for variable and to 7.75 percent for fixed loans, was a big draw.

Leading builders like Ansal, DLF, Unitech, Omaxe, Vipul and Ambience took part in the event showcasing their upcoming projects in and around Delhi. Omaxe group in fact clinched deals, worth nearly Rs seven crore. Ambience Infrastructure Pvt Ltd, which is coming u with Ambi malls in Gurgaon and Vasant Vihar, New Delhi reportedly had a number of bookings.

Of Fashion, Music and Realty

Vatika Group celebrated the launch of its first group housing project - Vatika City in Gurgaon on September 18, by organizing an evening of glitter and grandeur. The main highlight of the evening was Bollywood’s leading fashion designer Manish Malhotra previewing his latest prêt line and sizzling performance by world renowned Boney M musical group featuring the original lead singer Liz Mitchell. Radio Mirchi as FM Radio Partner and The Grand, New Delhi, as the hospitality sponsor collaborated with the Vatika Group to bring this event to the select audiences.

Spread over 53 acres of land, the City will feature a series of low-rise and high-rise buildings in combination of two, three, four, five bedrooms, duplexes and pent houses with complete facilities. Designed by studio U+A, London in association with Spazzio, Vatika City will be a synthesis of contemporary design and traditional landscapes. Gaurav Bhalla, Executive Director of Vatika group announced that Vatika City was being positioned as the most desired and happening address in Gurgaon, complete with quality living, lifestyle and overall staying in a synchronized, well planned community.

RP Interactive On Home Buyers

Realty plus organized a panel discussion and presentation of the TNS India’s national survey prospective homebuyers at India Habitat center in New Delhi on September 24. The panel comprised eminent personalities from the real estate industry such as Rajesh Arora, MD of Arora and Arora Associates, Rohtas Goel, MD, Omaxe Constructions, Col R S Sodhi, MD, Apha Buildtech Co, Tanaji Chakrabarti, Head, Indian Property Research Limited and moderator for the discussion.

Ritesh Vohra, CEO, First Franchising, and Director, Realty Plus, kicked off the event by making a presentation providing an insight into the survey. “The objective of the survey was to probe the various factors that motivate prospective home buyers to make purchase decisions. The methodology was restricted to eight cities and to people who will make a purchase decision in the next 12 months for a property up to Rs 15 lakhs.”

Participating in the debate, Arora observed that in the last five years the real estate market has undergone a sea change, offering quality products. And with people becoming aware of property buying and related issues, it is no more a sellers market. Goel remarked that earlier options were limited and the sale was more inclined towards office property but gradually the market has seen a significant change in the demand for good quality residential houses as well. “We have come up with ‘Forest’ apartments which are priced anywhere between Rs one crore and Rs 3.5 crore. It is purely a need based project as people today want good lifestyle and can even afford luxury houses.” Col R S Sodhi was of the opinion that the residential real estate growth has a lot to do with the honesty and integrity of developers and straightforward transaction. “We are constantly building a honest relationship with the buyers and that pays.” Chakrabarti urged the panelists to share their experiences over another key aspect of the survey findings, the location of the property. Sodhi was prompt in his observation, “Location is a relative term, each person looks at it from his or her point of view and if you can provide other facilities, you can create a good location also.” Commenting on another significant aspect of infrastructure, Goel said that infrastructure around the housing complex is of primary concern to the buyer. The panel discussion ended with an interactive session in which the panelists responded to a plethora of suggestions and queries from the audience.

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