Monday, November 19, 2007

SS Lootah to tap into India’s $16bn real estate market

SS Lootah Asia, a wholly-owned subsidiary of the UAE-based SS Lootah Group, shared details of their latest global alliance, the `Sustainable Construction Group’ (SCG) at Cityscape India, the world’s largest B2B construction and real estate exhibition which is scheduled to be held in Mumbai from 19-21 November.

The company will introduce green buildings in India’s booming real estate sector. With varied investment interests across several sectors in UAE, Asia, Africa and Europe, their Asia branch will drive investments in key growth sectors including infrastructure, real estate services, manufacturing and knowledge.

According to Eng. Yahya Lootah, vice chairman, SS Lootah Group, “Our focus will be in developing green buildings and the initiative will be spearheaded by SCG , whcih has an alliance in the private sector sustainable construction domain with a workforce of over 15,000 and 22 experts specialized in LEED (Leadership in Energy and Environmental Design) certification.

SCG comprises ZAS-PSE, TROW, H.H Angus, Lootah-Vanbots, State Group International, TAS Designbuild and NCK Engineering Ltd. The companies bring varied specializations in international expertise ranging from architecture and design, engineering consultancy to MEP, Infrastructure and Construction with footprints across continents

“Our investments in the Indian real estate market are estimated to touch $90 billion by 2015 from the current levels of $16 billion,” he said, adding that the growth in the Indian real estate sector which is currently pitched at 30% per annum, will continue with the rise in cash rich Indian middle class consumers; dynamic growth of Indian corporates and positive initiatives by the government

“Our investments in India come against the backdrop of a need to increase FDI flows into India from the Gulf countries. Currently investments from the Gulf to India are in the range of $2 billion and there is tremendous potential to increase this further, particularly in the real estate and infrastructure sector which has attracted considerable FDI to the tune of $10 billion,” he added.


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