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Construction : Press Release | May 2012 | Source : Construction Update

GIREM 101 Finds Bangalore Surging Ahead in Luxury Home Market

Mumbai, 11th May: GIREM (Global Initiative for Restructuring Environment and Management), an independent body focused on urban planning, development and corporate real estate, in its latest issue of GIREM 101 has found that Bangalore’s luxury home market is surging ahead, driven by demand created by the IT sector.

The luxury home market potential is expected to grow at a CAGR of around 28 per cent till 2013 with demand led by the senior management class, corporate houses, non-resident Indian businessmen and high net-worth individuals. Bangalore has become one of the most sought after destination for luxury housing segment, a property (an apartment or a villa) costing over Rs. 3 crore.

The article provides information on Bangalore’s real estate growth story and the pockets which are experiencing high investment prospects.

Along with the luxury housing segment, GIREM 101 has highlighted the need for improved workplace environment, onus of the facility managers. In the issue, it reveals that there are ‘disturbing’ gaps in the training of facility management professionals an industry which is worth over USD 6 billion.

Mr. Shyam Sundar S Pani, President GIREM stated, “GIREM 101 will provide continuous insight into market movements. We begin with Bangalore’s luxury home segment which is in sync with the aspirations of a young and strong IT workforce, primarily. Along with the home segment, we are looking at improving workplace environment and the April issue looks at how training is key for those entering the facilities management industry. GIREM 101 strongly advocates training of skilled and semi-skilled personnel, many of whom are migrants from II and III Tier cities and experiencing cultural transformation.”

About GIREM:

GIREM (Global Initiative for Restructuring Environment and Management) is an independent body focused on urban planning, development and Corporate Real estate. It is a platform for Corporate Real Estate Professionals GIREM focuses in key areas related to infrastructure, urban planning, and environment issues to capture the business expectations, by bringing together all the important stakeholders of urban development and real estate in the country. GIREM has successfully completed three years with its Annual Leadership Summit in Goa focused on Urban Planning & Real Estate, as well as, City Focused Summits (started in 2010) in Bangalore, Gurgaon, Pune and Hyderabad focused on the infrastructure and development of the cities. This year, GIREM has also added cities including Mumbai, Chennai, Noida in its Smart Future City series.

GIREM provides an opportunity to discuss the current and latest happenings in the real estate and infrastructure industry, share ideas and knowledge, learn from the educative expert presentations, discussion forums, existing and new business destination on display and earn enormous amount of insight and knowledge specific to the realm of urban development and planning.

GIREM places special emphasis on the Corporate End Users of commercial and office spaces in India by addressing their needs and concerns to establish, connect and operate in the urban Indian environment.
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