Bengaluru in top 10 Asian cities for real estate investments

Agencies
June 20, 2019

Bengaluru, Jun 20: India's tech hub Bengaluru is ranked among top 10 Asia-Pacific cities for cross-border investments in real estate, said a leading consulting firm on Wednesday.

"Real estate investment in Bengaluru doubled to $1,600 million (Rs 11,200 crore) in fiscal 2018-19 from $800 million (Rs 5,600 crore) in fiscal 2017-18, said CBRE South Asia Ltd consultant firm from its Asia Pacific investor intensions survey 2019 finding.

Interest in Indian realty sector picked up after the central government framed a law in 2014 to set up the Real Estate Investment Trust (REIT), which brought in market transparency.

"India is among the top five preferred markets in APAC after the city-based property developer Embassy and global private equity firm Blackstone have set up the first REIT in March 2019 as a joint venture in the realty sector," revealed the survey.

The drivers for the new trend are new infrastructure and potential growth opportunities in the market.

"Improved investor sentiment in office assets is likely to make quality buildings as a fund-raising avenue for developers and propel corporations to lease/purchase space in these developments," said the finding.

CBRE Chief Executive Anshuman Magazine said Bengaluru figured as the first Indian city in the list of preferred investment destination, thanks to its global reputation as the home for trans and multi-nationals.

"The tech city with a strong talent base and quality infrastructure is popular for offering investment grade options in office, retail and residential segments," said Magazine on the occasion.

The survey noted greater interest in office properties, followed by industrial and logistics, multi-family, hotels and retail for investment in the APAC region.

"There is also scope for investment in India as rising consumption and growing demand in the logistics sector will attract investors to seek opportunities in the market," added Magazine.

The survey also found Bengaluru as one of the fastest growing cities in India owing to the presence of global players in IT, biotech, pharmaceuticals, manufacturing and other growth sectors.

"Over the past two decades, Bengaluru has transformed to India's aSilicon Valley from being a aPensioners' Paradise' and has become the hub of research and innovation," added the finding.

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Shodhan Prasad
May 14,2020

Dubai: The father of a 16-year old girl who came on a visit visa to the UAE to visit him is desperate for help as she has been hospitalised, even as he has been rendered jobless.

On February 6, Amber D’Couto flew into Dubai from Mangaluru, India, along with her older sister, Alison, 19. The girls wanted to visit their dad Vivian D’Couto who was working in an automobile company at Jebel Ali.

The father was overjoyed to meet his girls until things took an ugly turn.

Two months into her stay, Amber fell seriously ill, even as D’Couto was served a termination letter by his company.

D’Couto said his daughter, a Grade 10 student, was perfectly healthly but suddenly developed high fever and began vomiting. She was rushed to a private hospital in Qusais which could not accommodate her because of the ongoing COVID-19 situation.

On April 30, she was admitted to another private hospital in the same area. After testing negative for COVID-19 thrice, she was diagnosed with acute pancreatis and Rheumatoid fever.

While the girl remains in hospital, the bill has spiralled to over Dh50,000, D’Couto said, adding that without a job now, he had no means to pay the huge amount.

“Amber is a very sweet child and a very bright student. She was living a very healthy life prior to coming to Dubai. But she is so ill now and under round-the-clock vigil in the ICU. The treatment for her condition is very specific and costly.”

A worried man, he said: “My daughter was on a visit visa and she had no insurance. We appeal to compassionate people to help us out in this difficult hour. Due to the current situation, I have lost my job and I am unable to pay for her medical expenses. Her condition has not stabilised yet and I am taking each day as it comes. I trust the doctors to help her recover, and we hope to be repatriated to India at the earliest so she can get further medical care.”

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News Network
June 9,2020

Thiruvananthapuram, Jun 9: Malls, restaurants and places of worship opened in Kerala on Tuesday morning after over two-and half months of Coronavirus induced lockdown. There were very few visitors in the malls and restaurants in the early hours and people preferred takeaways in eateries.

Various temples, including the famous Lord Krishna temple at Guruvayoor, a few churches and mosques opened in the state for the devotees. The Guruvayur shrine opened at 9.30 am and around 150 people, who had booked through virtual queue system, offered prayers.

Devotees wearing masks were seen standing adhering to the social distance norm. A faithful at the guruvayur temple said he had booked for darshan on Sunday and was happy to be offering worship after a long gap. "This is a realisation of a dream", he said.

In the state capital while the famed Lord Padmanabha swamy, Pazhavanangadi Ganapathy and Attukal Bhagavathy temples remained shut, the SreekanteshwaraShiva shrine and Lord Hanuman temple near the state assembly were among those which opened for darshan. The names, age and other details of the worshippers are also being collected by the temple authorities before letting people in. Another devotee said it was very painful not to go to the temple and expressed happiness over reopening of the shrines.

The virtual queue booking for devotees to offer worship at the hill shrine of Lord Ayyappa temple at Sabarimala would commence from Wednesday. Devotees from other states have to produce a Covid-19 negative certificate while booking,sources in the Travancore Devaswom Board (TDB), administers the temple, said.

The Ayyappa shrine would open from June 14 to 28 for the five day monthly pooja and temple festival and only 10 people would be allowed inside the shrine at a time, sources said.

Most of the over 1,200 temples under the TDB, have opened while those under the Nair Service Society (NSS), an organisation of the Nair community and few other shrines were shut. The state government, which had come under attack from the BJP and Hindu Aikya vedi for opening the temples in a "hasty manner" has maintained that the decision was taken in line with the Centre's Unlock-1 guidelines and said those opposing the move had earlier wanted devotees to be allowed into the shrines.

As per the centre's Standard Operating Procedures, social distancing should be followed in all the places of worship and devotees should wear face mask are among other precautions in view of the COVID-19 pandemic.

Those above 65 and children below 10 years would not be allowed in places of worship, distribution of food, refreshments and offertory blessings (prasadams), sandalwood paste or ashes should be avoided. Thermal scanners to check body temperatures, sanitiisers, arrangements for washing hands, were all provided in the temples and other places of worship which opened this morning, In churches in the state capital, Kochi and Kozhikode, allowedthe faithful inside after disinfecting the place.

The orthodox church synod is being held on Tuesday which will take a decision on whether or not to open their places of worship. Few mosques were also open in some places.

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coastaldigest.com news network
May 21,2020

Bengaluru, May 21: Chief Minister B S Yediyurappa today slammed Law Minister JC Madhuswamy for yelling at a woman farmer in Kolar, an incident that attracted widespread criticism. 

The incident happened on Wednesday when Madhuswamy, who is also the minor irrigation minister, was inspecting the Koramangala-Challaghatta (KC) Valley project, under which Bengaluru’s sewage is treated and pumped into lakes in Kolar. 

During his visit, farmer Nalini Gowda questioned Madhuswamy on the encroachment of the 1,022-acre S Agrahara lake. At one point, Madhuswamy lost his cool and yelled, “Aye! Shut your mouth, rascal,” and asked the police to take her away. Before this, Madhuswamy told her, “Make a request. I’m a very bad man. You can only air your grievance. Don’t command us.” 

A video of this exchange was aired by news channels. 

“What (Madhuswamy) said is not right. I have warned him. None can forgive such an explicit manner of talking with a woman. That, too, behaving like that being a minister doesn’t bode well. I will talk to that woman also and I’ll ensure this doesn’t happen again,” Yediyurappa told reporters.

The incident has come as a shot in the arm to the Opposition Congress, which is already attacking the Yediyurappa administration on the COVID-19 crisis. Condemning Madhuswamy’s behaviour, Leader of the Opposition Siddaramaiah demanded an apology and asked Yediyurappa to sack him from the Cabinet. 

Karnataka Pradesh Congress Committee (KPCC) president D K Shivakumar said it was unbecoming of Madhuswamy to behave like that being a senior minister. “People will ask us questions and express their problems, naturally. What’s important is how we handle ourselves. Be it a woman or anyone, they come to us because we’re into public service. Calling them ‘rascal’ and things is not right. Maybe there was some irritation, but I agree with (Siddaramaiah) that he should be dropped from the Cabinet,” he said.

On his part, Madhuswamy said he felt intimidated. “If I have hurt the feelings of any woman, I will certainly apologise,” he said. “But citizens should realise, we go to their villages to ask about their problems. If they start abusing us publicly, how can we work? My secretary and I heard her for five minutes and then told her that we know our responsibility. We asked her to close the issue. She didn’t stop and I got tempted (sic),” the minister said.

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