Tag Archives: Chancery

Jones Lang LaSalle brokers largest ever IPC deal

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Jones Lang Lasalle Office, Chancery, Mumbai Real Estate, India Property, Track2Media, Track2Realty, ravi sinha, india realty news, india real estate news, real estate news india, realty news india, india property news, property news india, india news, property news, real estate newsIn a path breaking transaction set to the backdrop of Mumbai’s curtailed land scenario, Mafatlal Industries has sold a land parcel consisting of 30,910 square meters among South Mumbai’s textile mills for Rs.605.8 crore. The purchaser is Gliders Buildcon LLP, a subsidiary of Piramal Realty. The deal was consummated by Jones Lang LaSalle India in what is the largest-ever transaction enabled by an international property consultancy in India.

The site, backed by a breath-taking view of the Arabian Sea, is of extreme strategic importance. Khushru Jijina, M.D. Piramal Realty Ltd. states, “This land parcel is located a mere 15 minutes from the Victoria Terminus, 30 minutes from Bandra Kurla Complex via the new bridge in Parel and ten minutes from Mumbai Central, Mahalakshmi Station and the Race Course. As such, we find it ideally suited for mixed used development. “

Sanjay Dutt, CEO – Business, Jones Lang Lasalle India, agrees. “The location lends itself well to mixed use that could include hospitality, retail and residential components. We are, after all, talking about over 1 million square feet of prime asset in the heart of Mumbai.”

Given the given the greenery-encased, panoramic sea view and with an FSI of 46669.2 square meters (factoring in an assumed FSI of 1.33), this plot would fulfill its highest potential in premium residential. The development potential in terms of saleable area is approximately 1 million square feet.

GIREM – Jones Lang LaSalle Corporate Capital Summit in Mumbai

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Jones Lang Lasalle Office, Chancery, Mumbai Real Estate, India Property, Track2Media, Track2Realty, ravi sinha, india realty news, india real estate news, real estate news india, realty news india, india property news, property news india, india news, property news, real estate newsGIREM (Global Initiative for Restructuring Environment and Management), in association with Jones Lang LaSalle, is organizing a high-powered, by-invitation-only summit, which will be attended by the top brass and decision makers of the real estate and capital market fraternities. The summit will take place on July 8th 2011 at the Grand Hyatt, Mumbai.

This event has been specifically conceived for free-flowing discussions and sharing of trends and knowledge about what the future holds for the financing industry. GIREM Corporate Capital is the ultimate platform for corporate real estate professionals and the investor community to connect under one roof.

Today, CRE (Corporate Real Estate) managers and decision makers across the country are faced with a twin challenge – that of bringing down overall real estate occupancy expenses, and that of making CRE portfolios more responsive to the rapidly changing business environment.

 

“This is a powerful platform at which the most respected industry stalwarts of the investor, developer and office occupier communities will congregate to ideate and discuss the challenges they face – now and in the future – and to make plausible recommendations”, Shyam Sundar S Pani, President, GIREM said.

In India, where real estate markets treaded a rising growth curve in 2010, the challenges it faces today can no longer be met with the traditional tactical execution. Shaking lose the reactive response mode and armed with knowledge of what could have been one of the worst financial crises of our times, today’s occupiers are aligning real estate portfolios to better business strategy. In doing so, they are elevating the role of corporate real estate to that of ‘proactive partner’ to the business.

Sanjay Dutt, CEO Business, Jones Lang LaSalle says, “India is evolving rapidly, and along with this evolution come a myriad challenges with hidden opportunities. This is especially true for the country’s real estate sector, wherein investments and developments are progressing at a breakneck speed but without a clear, unified direction. We believe it is time for the corporate world to awaken to this reality, and this is where a visible and powerful forum like GIREM can push the boundaries even further”.

Jones Lang LaSalle Named ‘Best Property Consultancy’ in Asia Pacific

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Jones Lang Lasalle Office, Chancery, Mumbai Real Estate, India Property, Track2Media, Track2Realty, ravi sinha, india realty news, india real estate news, real estate news india, realty news india, india property news, property news indiaJones Lang LaSalle has been named ‘Best Property Consultancy’ in Asia Pacific at ‘The Asia Pacific Property Awards 2011 in association with Bloomberg Television’ event held in Shanghai on Tuesday. The firm dominated the award categories across 10 countries in the region, winning the ‘Best Property Consultancy’ awards (five-star) in Australia, China, Japan, New Zealand, the Philippines and Singapore, and Highly Commendable awards in Hong Kong, India, Taiwan and Thailand. The firm also won ‘Best Residential Development Marketing’ for Meridian Hill, 81 Broadcast Drive, Kowloon Tong, Hong Kong.

Alastair Hughes, Jones Lang LaSalle’s Asia Pacific Chief Executive Officer says, “We are very honoured by this recognition. As a firm, we strive to be at the forefront of the industry and being the best in our field. These accolades are a major boost to our pursuit of excellence for both our clients and staff, as we continue to strengthen our platform, enhance our service delivery and develop the best team of real estate professionals in the region to meet and exceed our clients’ expectations.”

“This is certainly among the most satisfying in a spate of recognitions acknowledging our superior services and market leadership in the real estate consultancy domain,” says Anuj Puri, Chairman & Country Head, Jones Lang Lasalle India. “The Asia Pacific region is certainly the global ‘boom town’ for the property market, and we are gratified at receiving an award that is focused on this region.”

As the regional winner, Jones Lang LaSalle will move forward to compete against other winning companies from Europe, Africa, the Americas and Arabia for the World’s Best Property Consultancy category, to be announced later this year.

Commercial Real Estate moving into strongest market since 2007

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Jones Lang Lasalle Office, Chancery, Mumbai Real Estate, India Property, Track2Media, Track2Realty, ravi sinha, india realty news, india real estate news, real estate news india, realty news india, india property news, property news india, ndtv.com, ndtv, aajtak, zee news, india news, property news, real estate news, 99acres.com, 99 acres, indianrealtynews.com, indianrealestateforum.comJones Lang LaSalle’s second quarter 2011 Global Market Perspective, which assesses the impact of economic forces on the world’s major real estate markets, predicts this year will be the strongest performance and real estate trade volume since the market height of 2007.

There are positive indicators visible across the global real estate markets; Arthur de Haast, Head of the International Capital Group at Jones Lang LaSalle commented: “The world’s major real estate markets started the year on a positive note and as we enter the second quarter these markets are continuing on their recovery path.  Markets are showing remarkable resilience, despite the shocks of the disaster in Japan, the turmoil in the Middle East and a slightly less optimistic outlook for the global economy.  The continuing global real estate recovery is characterised by strengthening investment markets, increasing corporate optimism and robust price growth for prime assets across multiple markets.”

The BRIC (Brazil, Russia, India and China) nations have continued to grow in importance to the real estate capital markets.  These countries, which accounted for two percent of investment trades in 2007, are accounting for a greater proportion of transactions – 13 percent of global volumes in first quarter 2011.  This places the BRICs nations, as a group, third after only the United States and the United Kingdom. The BRIC contribution to overall investment volumes is expected to rise further as transparency and the quality of the available supply of real estate stock improves.

Brazil is the main growth story over the last quarter.  The country became the fifth most active investment market in Q1, overtaking China, as domestic demand drove activity during the quarter.  São Paulo has one of the world’s most dynamic office markets, characterised by rapid rental growth, strong corporate occupier demand, low vacancy and a development boom.

Other key highlights of the Q2 2011 Global Market Perspective Report from Jones Lang LaSalle include:

Investment Volumes: global direct commercial real estate investment volumes are up 44 percent year-on-year.   Based on current momentum and transactions in the pipeline, Jones Lang LaSalle believes that full-year volumes are now on track to be above US$440 billion, which would represent 35-40% growth on 2010 levels and the highest volume since 2007.

Paul Guest, Head of Global Capital Markets Research at Jones Lang LaSalle commented: “Investors are continuing to focus on core assets in the main gateway cities, but with insufficient supply, they are selectively moving up the risk curve in terms of geography and type of investment.  For example we have seen more investors looking at prime assets in Central and Eastern Europe and at opportunistic opportunities in Asia, particularly Poland and China, respectively.  Investors are also more prepared to consider smaller assets, properties with shorter income streams or with some vacancy, as well as selective development opportunities.  Most investors however, are not prepared to compromise on quality and continue to show caution towards secondary assets.”

In the United States, there has been a significant easing of the debt situation, liquidity is building and the CMBS market is returning.  In Asia Pacific, loan-to-value ratios are now around the 60 to 65% range with an increasing choice of both financing options and parties from whom to obtain debt.  In Europe, debt still remains difficult however, especially for non-prime assets.

Capital values for prime office assets in major cities rose by 22 percent over the past year.  In several markets, prime yields are now approaching the levels reached during the previous cycle’s peak in 2007.  Nonetheless, prime yields are now stabilising after the steep re-pricing trend of the past 18 months.  Future capital appreciation will be increasingly driven by rental growth; for investors the key to securing capital growth will be a deep understanding of the motivations of corporate occupiers and an ability to offer competitive space which meets occupier requirements.

Corporate occupier confidence is on the up across the globe and we are seeing more expansion demand.  Corporations are focusing on ‘smart growth’ however, looking to minimise exposure to rising costs by continually ‘stress testing’ the need to take new space.  Asia Pacific continues to have some of the world’s strongest office leasing markets, with Hong Kong and Singapore leading the way globally with year-on-year rental growth of over 30%.

This steady occupier demand combined with an emerging supply gap for prime assets in many CBD markets in major cities is resulting in a gradual fall in the global office vacancy rate, which currently stands at 14.2 percent.  As landlords become more confident, we are seeing rising volumes of speculative construction in Europe, led by Moscow, Paris and London.  In the United States however, speculative construction still remains largely dormant.   Meanwhile, Asia Pacific is at the peak of its development cycle, but corporate demand in most markets is strong enough to absorb the additional new office space.

As a result of this declining vacancy rate and limited supply, rental growth for prime assets is accelerating, and is currently at close to eight percent year-on-year across 22 major global office markets.   Jones Lang LaSalle anticipates that more markets will turn in favour of landlords during the remainder of 2011.