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Global riches pick Mumbai as future residential hub

The global riches, high-net-worth individuals (HNWIs), see New York and London as the world’s leading hubs over the next 10 years, but emerging nation centres are fast catching up, according to the latest wealth report recently launched by Knight Frank and Citi Private Bank. The report reveals that Mumbai increases in importance by 118 per cent, Shanghai by 91 per cent, and Sao Paolo by 66 per cent.

Ambuja Cements acquires Penna Cement

Real estate industry seeks fast track infrastructure development

Real estate industry in India calls for fast track infrastructure development. In the 5th edition of ‘Estate South 2011’ organized by CII, the speakers expressed in solidarity the need for fast track infrastructure development to support the growth of real estate industry in the country. The two day event held in Chennai chalks out recommendations and deliberates on the theme South Realty: Vision 2020.

Ambuja Cements acquires Penna Cement

3i India Infrastructure Fund Invests $111.51m in KMC Infratech

3i India Infrastructure Fund, an investment fund established by international investor 3i Group plc, to invest around $111.51 million in KMC Infratech Ltd (KMCIL), a subsidiary of KMC Constructions Ltd (KMCCL). Anil Ahuja, Managing Director and Head of 3i Asia said, “KMCIL is well positioned to take advantage of the significant opportunity in the road sector in India.

Ambuja Cements acquires Penna Cement

ADB signs $ 250 mn loan agreement with India for Infra projects

Asian Development Bank (ADB) continued support for infrastructure development in India. “The Government of India, ADB and the India Infrastructure Finance Company Ltd. (IIFCL) signed a $250 million loan agreement for tranche two of the ongoing Second India Infrastructure Project Financing Facility which aims to stimulate infrastructure development through public-private-partnership investments,” a statement from the Finance Ministry said.

Ambuja Cements acquires Penna Cement