Welcome back to the Weekly News Round up! Let’s see what’s in the bulletin for this week.
Singapore’s Xander Group’s private equity real estate arm Xander Investment Management (XIM) has set up a $250 million industrial real estate platform in India. This venture will target to purchase assets in the high-growth logistics and e-commerce sectors at industrial corridors across major cities in India.
The recession has badly hit the Indian real estate sector. The real estate sector is facing a severe cash crunch and if the situation remains the same then this could indicate fresh strife for the banks. According to Fitch Rating’s Indian division about $10 billion of development loans coming up for repayment in the first half of 2020. This fallout could spread to mainstream banks that have lent money to the shadow lenders or invested in their bonds.
As per the PropTiger report, launches in the real estate sector plunged by 45% in the top nine metros in Q2. The number has declined to 33,883 units in Q2 this financial year from 61,679 units launched during the same quarter last year.
Diwali is around the corner and we can feel the smog in the air. Delhi air quality to drop sharply over the weekend. On Thursday, the overall air quality index was at 276, but the situation is predicted to depreciate sharply over the weekend due to “significant” stubble burning.
BJP Government is planning to train and educate women across villages to fight the water crisis. Women across 256 water-scarce districts will get the training to ensure clean water supplies Smriti Irani, the federal minister for women & child development said. The program will be expanded to cover all of India’s 750,000 villages, Irani said.
That was all for this week, we’ll be back next week until then stay updated and this Diwali go green, stay away from bursting firecrackers.