Impressed by the buoyancy of Indian real estate, Singapore property firms are seeing to establish their presence in the country with high profile projects.
To name a few, there is RSP Architects, The WIRE Group, CPG Group and JTC Corp’s Jurong International, sitting on projects totaling more than 500 million sq ft of floor space.
Jurong International is coming up with a Mega Township in Amritsar. The project will spread over 80Ha. Close on the heels is RSP Architects with a project concerning development of a 1 million sq ft IT Park in Bangalore.
When the craze of developing Special Economic Zone (SEZs) in India has overpowered the domestic builders, how can the international developers stay behind? Joining the SEZ race is CPG Group, a new player from Singapore, who is all set to build a SEZ over the land of 13,000Ha in Mundra, Gujarat.
To see the involvement of Singapore real estate firms in broader way, picture the available office space in Singapore’s Central region, including the shopping malls and corporate towers in its downtown core and Orchard Road. Multiplying the figure by 4 will give the exact sense of business. Entire of which in India is solely being handled by a single Singapore design company – RSP Architects.
Even smaller players, such as CPG, are incredibly busy. CPG has at least 30 million sq ft of projects completed or under construction. Apart from biggies like Jurong which has as much as half of it, other small players, such as CPG, are also busy in pushing their property projects on course.
A number of important real estate projects in Tier II cities like Hyderabad are in hands of Singapore architects. Around some US $45 billion worth of projects are under construction across in India, says the data showcased by property surveys.
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