Page 11 - CV April-May 2019 issue

REALTY SECTOR LIKELY TO 35 million sq ft, up 17% on year. Bangalore . NITIN GADKARI LAUNCHES
SEE 200 M SQ FT ADDITION and Delhi-NCR continued to dominate take- RS 4,459 CRORE HIGHWAY
up, while Hyderabad emerged as the third
IN 2019 PROJECTS IN HIMACHAL
PRADESH

He also laid foundation stone for the
104.60 km Paonta Sahib-Gumma-Feduzpul
section of the National Highway 707, to be
constructed at a cost of Rs 1,356 crore.

DHARAMSALA: Union Minister of Road,
Transport and Highways Nitin Gadkari on
Sunday laid foundation stones for Rs
4,459.24 crore highway projects at Gaggal
town on Sunday.
Himachal Pradesh Chief Minister Jai Ram
Thakur was also present on the occasion of
laying of foundations with a click of the
The activity for both absorption and most-preferred office destination, overtaking mouse.
development is expected to be heightened Mumbai. During his day-long visit to the hill state,
in the SEZ and tech park space during the
year.

BENGALURU: Indian real estate is expected
to witness addition of nearly 200 million sq ft
of space in 2019 across categories including
office, retail, residential and logistics to reach
3.7 trillion sq ft. Of this, nearly 40 million sq ft
development will be new office space to be
released over the next 12 months, according
to a CBRE South Asia study.

Almost 30% of this pipeline is expected to be
in the Special Economic Zone (SEZ) space.
The appetite for SEZ's and technology parks
is on the rise with the fast approaching sunset
date of March 2020, which will impact the
CBRE expects rents to continue to grow Gadkari laid foundation stone for four-laning
benefits for occupiers.
across the key markets in Bangalore, of 37.05 km strech, from Punjab-Himachal
Chennai and Pune, however, this growth is border to Sihuni, of the National Highway 154
The activity for both absorption and
expected to taper across most cities. to be completed at a cost of Rs 1,572.90
development is expected to be heightened in
Gateway cities of Delhi-NCR and Mumbai crore, a government statement said.
the SEZ and tech park space during the year.
would also see rental growth, however only in
select locations. Also, a convergence He also laid foundation stone for the 104.60
The share of technology sector in overall
between SEZ and non-SEZ rentals is km Paonta Sahib-Gumma-Feduzpul section
space take-up in the country is likely to
expected in 2019. of the National Highway 707, to be
remain in the range of 30-35% by the end of
For logistics segment, the year turned out to constructed at a cost of Rs 1,356 crore.
2019.
be remarkable as overall absorption rose
The other highway projects included 109.75
44% to touch 24 million sq ft. CBRE expects
The year 2018 was a landmark one with km Hamirpur-Mandi section of the National
demand from e-commerce players may slow
office space absorption crossing an all-time Highway 70 and the 15.75 km Una-Bhiroo
down in the short-term due to policy
high of 47 million sq ft, up 5% on-year across section of the National Highways 503A.
disruptions
the nine cities, boosted by a supply influx of
9 / CONSTRUCTION VISION / May June 2019