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Monday, December 24, 2007
Sales Centeres & Advertising prime factors in Property Buyers Decision
Sales centres and advertising are the most important factors influencing one's decision to buy a property, according to a study released by FutureBrand, a global brand consultancy firm.
It said that sales environments have posted a 25 per cent rating in terms of importance in attracting potential buyers. Advertising received a 21 per cent rating compared to six per cent for information videos and five per cent for web sites.
"We believe successful sales environments impart a clear and engaging message about the values of a development," said Gulf Real Estate Study, a 2007 survey commissioned by FutureBrand. "In real estate especially, customer environments become the manifestation of the design and quality of property developers' aim to produce."
The US firm said the study, based on 300 homebuyers and development professionals in the UAE and Bahrain, "allows us to better understand attitudes and perceptions of communities and developers, along with the factors that influence purchase decisions".
The 30-page study said that property branding is about a developer having credibility by adhering to the truth in advertising, and staying the course. This is the case in a saturated market because brand awareness takes time and money to achieve.
"As the market matures and gets saturated and sophisticated the role of the brand will become more significant in decision making among investors and end-users," said Rina Plapler, the company's executive director. "Brand needs to connect deeply with what the development is about."
The study said that a sales centre should be able to impress upon prospective buyers the project's future home technologies, environment-friendly features, the idea of exclusivity, post-purchase incentives such as access to spas and golf memberships, and personalised designs.
It added, however, that investors may also forego glamorous properties and consider buying one that appeals to the majority of the working population, which it said is an "underserved audience".
Another good long-term investment vehicle is supplying accommodation for hospitality employees, it said, noting that hotel management contracts often run for 20 years.
It described the UAE's Northern Emirates as having "excellent opportunities" for affordable houses and offices for those seeking alternatives to Dubai, whose per square-foot of space costs an average of Dh1,835.60 ($500).
source: mybangaloreproperty.com
It said that sales environments have posted a 25 per cent rating in terms of importance in attracting potential buyers. Advertising received a 21 per cent rating compared to six per cent for information videos and five per cent for web sites.
"We believe successful sales environments impart a clear and engaging message about the values of a development," said Gulf Real Estate Study, a 2007 survey commissioned by FutureBrand. "In real estate especially, customer environments become the manifestation of the design and quality of property developers' aim to produce."
The US firm said the study, based on 300 homebuyers and development professionals in the UAE and Bahrain, "allows us to better understand attitudes and perceptions of communities and developers, along with the factors that influence purchase decisions".
The 30-page study said that property branding is about a developer having credibility by adhering to the truth in advertising, and staying the course. This is the case in a saturated market because brand awareness takes time and money to achieve.
"As the market matures and gets saturated and sophisticated the role of the brand will become more significant in decision making among investors and end-users," said Rina Plapler, the company's executive director. "Brand needs to connect deeply with what the development is about."
The study said that a sales centre should be able to impress upon prospective buyers the project's future home technologies, environment-friendly features, the idea of exclusivity, post-purchase incentives such as access to spas and golf memberships, and personalised designs.
It added, however, that investors may also forego glamorous properties and consider buying one that appeals to the majority of the working population, which it said is an "underserved audience".
Another good long-term investment vehicle is supplying accommodation for hospitality employees, it said, noting that hotel management contracts often run for 20 years.
It described the UAE's Northern Emirates as having "excellent opportunities" for affordable houses and offices for those seeking alternatives to Dubai, whose per square-foot of space costs an average of Dh1,835.60 ($500).
source: mybangaloreproperty.com
IMP Powers Bagged Rs65 Crore Order from Maharashtra State Electricity Board
Makers of electricity meters and transformers IMP Powers has bagged an order worth Rs 65 crore from a renowned EPS Contractor for supply to Maharashtra State Electricity Board.
Under the contract IMP Power will supply EHV Transformers of 132 and 220 kv class, the company informed the BSE today.
The company plans to execute the order in the next 6-9 months. The company has the distinction of producing transformers with improved efficiency to supply quality power with minimum losses.
source: mybangaloreproperty.com
Under the contract IMP Power will supply EHV Transformers of 132 and 220 kv class, the company informed the BSE today.
The company plans to execute the order in the next 6-9 months. The company has the distinction of producing transformers with improved efficiency to supply quality power with minimum losses.
source: mybangaloreproperty.com
Shaikh Mohamed pays Surprise Visit to CityScape, Dubai
His Highness Shaikh Mohammed bin Rashid Al Maktoum, Vice-President and Prime Minister of the UAE and Ruler of Dubai, paid a surprise visit to Cityscape, the world's largest real estate exhibition which concluded here yesterday.
A B2B (business-to-business) real estate show dedicated to those who can afford to invest over $5 million in the property industry, Cityscape attracted major companies and governments from various countries worldwide.
Shaikh Mohammed toured the 70,000 square metre exhibition area at Dubai International Convention and Exhibition Centre, meeting with some of the show's 1,000 regional and international exhibitors.
The event organiser IIR Middle East announced in a Press statement record attendance of 30,000 visitors during the first two days, surpassing the number of people who came last year.
Group director of Cityscape for organiser Rohan Marwaha said that Cityscape Dubai would not have attracted the quality and scale of its exhibitors had it not been for the support of Shaikh Mohammed.
"The progress of Cityscape Dubai underscores the growth of Middle Eastern companies...and much of this is due to the vision and encouragement of Shaikh Mohammed," he said.
The statement said that other prominent visitors to the event included star architect Zaha Hadid, Hollywood actor Patrick Swayze and US billionaire realtor Thomas Barrack Jr.
Singapore's Urban Development Authority, for instance, participated in the event aiming to get a slice of the $13 billion worth of projects that Gulf investors poured into the real estate industry around the world in 2006
"Our objective is to highlight Singapore as a viable, valuable investment option," said Choy Chan Pong, the authority's director. "We are already seeing an upsurge in the number of interested parties and several Middle East investors are targeting opportunities in Singapore."
Istithmar Group, a subsidiary of the Dubai World consortium, is the latest Arab company putting investments in Singapore. It recently tendered $1.13 billion worth of projects on the city-state's Beach Road.
Called South Beach, the $1.8 billion development features a high-quality mix of prime office space, two luxury hotels and retail and residential units.
A report commissioned by Cityscape Market Intelligence Service and launched at the three-day property show, has ranked India, the Philippines, Turkey, Morocco and Egypt as top emerging markets for investment opportunities in the real estate sector.
It identified Saudi Arabia as having the strongest investment potential in among the Gulf countries, while Syria has a "notable opportunity" for investors in tourism development.
What the indices show, according to the report by Oxford Business Group (OBG), is that there are other investment-friendly markets which haven't been attracting global attention.
It said the position of the Philippines at the top of the residential rankings will surprise many people, but it added that the country has posted strong economic growth and an increasing population.
"Growth in its residential and commercial markets has been exceptional, but international developers have been put off by continued restrictions on land ownership," OBG said.
source: mybangaloreproperty.com
A B2B (business-to-business) real estate show dedicated to those who can afford to invest over $5 million in the property industry, Cityscape attracted major companies and governments from various countries worldwide.
Shaikh Mohammed toured the 70,000 square metre exhibition area at Dubai International Convention and Exhibition Centre, meeting with some of the show's 1,000 regional and international exhibitors.
The event organiser IIR Middle East announced in a Press statement record attendance of 30,000 visitors during the first two days, surpassing the number of people who came last year.
Group director of Cityscape for organiser Rohan Marwaha said that Cityscape Dubai would not have attracted the quality and scale of its exhibitors had it not been for the support of Shaikh Mohammed.
"The progress of Cityscape Dubai underscores the growth of Middle Eastern companies...and much of this is due to the vision and encouragement of Shaikh Mohammed," he said.
The statement said that other prominent visitors to the event included star architect Zaha Hadid, Hollywood actor Patrick Swayze and US billionaire realtor Thomas Barrack Jr.
Singapore's Urban Development Authority, for instance, participated in the event aiming to get a slice of the $13 billion worth of projects that Gulf investors poured into the real estate industry around the world in 2006
"Our objective is to highlight Singapore as a viable, valuable investment option," said Choy Chan Pong, the authority's director. "We are already seeing an upsurge in the number of interested parties and several Middle East investors are targeting opportunities in Singapore."
Istithmar Group, a subsidiary of the Dubai World consortium, is the latest Arab company putting investments in Singapore. It recently tendered $1.13 billion worth of projects on the city-state's Beach Road.
Called South Beach, the $1.8 billion development features a high-quality mix of prime office space, two luxury hotels and retail and residential units.
A report commissioned by Cityscape Market Intelligence Service and launched at the three-day property show, has ranked India, the Philippines, Turkey, Morocco and Egypt as top emerging markets for investment opportunities in the real estate sector.
It identified Saudi Arabia as having the strongest investment potential in among the Gulf countries, while Syria has a "notable opportunity" for investors in tourism development.
What the indices show, according to the report by Oxford Business Group (OBG), is that there are other investment-friendly markets which haven't been attracting global attention.
It said the position of the Philippines at the top of the residential rankings will surprise many people, but it added that the country has posted strong economic growth and an increasing population.
"Growth in its residential and commercial markets has been exceptional, but international developers have been put off by continued restrictions on land ownership," OBG said.
source: mybangaloreproperty.com
Massive Shortage of Govt office Accomodation
There is a net shortage of 25.90 lakh sq feet of government office accommodation in Delhi alone and 20.12 lakh sq ft in other major cities, according to a report prepared by the Urban Development Ministry.
In Kolkata, the demand for government office accommodation is 20,74,653 sq ft but the availability is only 13,79,402 sq ft. Similarly at Bangalore the demand for office is 5,31,802 sq ft but the availability is 1,71,697 sq ft as on December 31, 2005.
According to a senior Urban Development Ministry official, "Apart from these cities there is also massive shortage of government office accommodation at Mumbai (1,70,035 sq ft), Chennai (2,14,366 sq ft), Thiruvanathapuram (1.07,600 sq ft) and Bhopal (91,43,200 sq ft)."
However, Faridabad and Ghaziabad have no shortage of government office accommodation while Agra and Cochin have a surplus of 8,157 sq ft and 671 sq ft respectively, as per the report.
Though the government has sanctioned construction of new offices at various places, the shortage will remain, said the official.
The ministry is taking up four projects for office accommodation in the capital at INA complex, Pushp Vihar, Deen Dayal Upadhaya Marg and Shahdara.
"Though the Urban Development Ministry is making efforts to meet the demands for office accommodation in Delhi and other areas, there is a need for changing the policy," Mohd Salim, chairman of the Standing Committee on Urban Development told.
source: mybangaloreproperty.com
In Kolkata, the demand for government office accommodation is 20,74,653 sq ft but the availability is only 13,79,402 sq ft. Similarly at Bangalore the demand for office is 5,31,802 sq ft but the availability is 1,71,697 sq ft as on December 31, 2005.
According to a senior Urban Development Ministry official, "Apart from these cities there is also massive shortage of government office accommodation at Mumbai (1,70,035 sq ft), Chennai (2,14,366 sq ft), Thiruvanathapuram (1.07,600 sq ft) and Bhopal (91,43,200 sq ft)."
However, Faridabad and Ghaziabad have no shortage of government office accommodation while Agra and Cochin have a surplus of 8,157 sq ft and 671 sq ft respectively, as per the report.
Though the government has sanctioned construction of new offices at various places, the shortage will remain, said the official.
The ministry is taking up four projects for office accommodation in the capital at INA complex, Pushp Vihar, Deen Dayal Upadhaya Marg and Shahdara.
"Though the Urban Development Ministry is making efforts to meet the demands for office accommodation in Delhi and other areas, there is a need for changing the policy," Mohd Salim, chairman of the Standing Committee on Urban Development told.
source: mybangaloreproperty.com
NRIs Boost indian property market
India has a housing shortfall of 26 million units with the bulk of demand coming mostly from non-resident Indians (NRIs), making it a rich property market for developers to tap, a Citibank official yesterday said.
Mumbai-based Ashish Mehrotra, business head and vice-president for mortgages at Citibank India, said the Indian property market has been increasing at between 30-35 per cent per annum, and will continue to see huge demand in the coming years.
"The markets are very buoyant, and developers have been providing internationally-accepted standards in the property industry," he said at the opening of IndiaHome Property Exhibition, a trade show for NRIs seeking to purchase houses in India.
He said the three-day event, which is being sponsored by Citibank and held at Shangri-La Hotel, targets the NRIs in Dubai and the whole UAE for properties being offered by 12 large developers covering India's 18 major cities.
He added that Citibank, a member of global financial services company Citi, provides up to 90 per cent financing of the total value of home property, with a maximum repayment plan of 20 years.
HSBC and the Indian house financing company HDPC also provide home loans to NRIs, whose biggest populations are in 20 economies such as the UAE, Kuwait, the US, the UK, Singapore, Hong Kong Canada and Australia.
Having processed at least 1,000 home loans since January, Citibank now has over 8,000 customers in Dubai for this service, he said. He added that there are 40,000 NRIs who bank with Citibank in Dubai alone.
He said Citibank, which has been extending home loans for the past two decades, is on its 10th year as sponsor of IndiaHome.
Some of the developers participating in IndiaHome are Emaar MGF, DLF Ltd , Hiranandani Developers, SMR Constructions, Unitech Ltd, Sobha Developers, Aparna Group, Presidium and Vipul Ltd.
Citibank said in a statement that these developers have residential, commercial and retail projects across various towns and cities in India offering purchase options of between Dh30,000 (30 lacs) to Dh10 million (10 crores).
Vipul Kaput, global sales director at Citibank NRI, said that buying a home is an investment as well as an "emotional commitment" especially for NRIs.
"Citibank has a rich experience and established presence in the Indian home loans market," he said at the event, whose inauguration was likewise attended by Rahul Soota, retail bank head at Citibank India and Burjor Patel, vice-president for marketing, Khaleej Times.
Mehrotra said Citibank is offering pre-approved home loans on the spot to visiting NRIs based on their salary and identification documents during the three-day exhibition. These loans can be used to shop of property at various exhibitors.
source: mybangaloreproperty.com
Mumbai-based Ashish Mehrotra, business head and vice-president for mortgages at Citibank India, said the Indian property market has been increasing at between 30-35 per cent per annum, and will continue to see huge demand in the coming years.
"The markets are very buoyant, and developers have been providing internationally-accepted standards in the property industry," he said at the opening of IndiaHome Property Exhibition, a trade show for NRIs seeking to purchase houses in India.
He said the three-day event, which is being sponsored by Citibank and held at Shangri-La Hotel, targets the NRIs in Dubai and the whole UAE for properties being offered by 12 large developers covering India's 18 major cities.
He added that Citibank, a member of global financial services company Citi, provides up to 90 per cent financing of the total value of home property, with a maximum repayment plan of 20 years.
HSBC and the Indian house financing company HDPC also provide home loans to NRIs, whose biggest populations are in 20 economies such as the UAE, Kuwait, the US, the UK, Singapore, Hong Kong Canada and Australia.
Having processed at least 1,000 home loans since January, Citibank now has over 8,000 customers in Dubai for this service, he said. He added that there are 40,000 NRIs who bank with Citibank in Dubai alone.
He said Citibank, which has been extending home loans for the past two decades, is on its 10th year as sponsor of IndiaHome.
Some of the developers participating in IndiaHome are Emaar MGF, DLF Ltd , Hiranandani Developers, SMR Constructions, Unitech Ltd, Sobha Developers, Aparna Group, Presidium and Vipul Ltd.
Citibank said in a statement that these developers have residential, commercial and retail projects across various towns and cities in India offering purchase options of between Dh30,000 (30 lacs) to Dh10 million (10 crores).
Vipul Kaput, global sales director at Citibank NRI, said that buying a home is an investment as well as an "emotional commitment" especially for NRIs.
"Citibank has a rich experience and established presence in the Indian home loans market," he said at the event, whose inauguration was likewise attended by Rahul Soota, retail bank head at Citibank India and Burjor Patel, vice-president for marketing, Khaleej Times.
Mehrotra said Citibank is offering pre-approved home loans on the spot to visiting NRIs based on their salary and identification documents during the three-day exhibition. These loans can be used to shop of property at various exhibitors.
source: mybangaloreproperty.com
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