Chinese realty players descend India in droves

In order to make the most out of the emerging future business avenues in the country’s real estate sector, China-based Guangdong homebuilder Country Garden is in the process of flying Indian developers to China to showcase its project management skills that helps the company execute low cost housing projects in record time. The company claims to have sold homes to 3 million buyers with its efforts to provide the highest value-to-price ratio globally. In this connection, the company plans to acquire at least one residential land parcel in 2017 as the Indian government pushes affordable housing projects by granting it infrastructure status as well as providing buyers interest subvention. That apart, the Centre's Make in India initiative promoting industrial parks across the country, has also attracted Chinese giant Dalian Wanda to the country and it is investing $10 billion in the realty sector of the country by constructing five industrial theme parks, besides scores of shopping malls. It is currently in negotiation with the Haryana government for an equity sharing deal for projects in the state. China Fortune Land Development (CFLD) is another Chinese real estate giant that plans to gain through the Make in India project.

Published: 08 May 2017