👀 Residential Sector no more attracts Tender Opportunities

Indian construction industry still to grow in double digit.

Author

Pratik Patel
October 29, 2024

Emaar to Invest ₹2,000 Crore in Mumbai Real Estate

Emaar, the UAE-based real estate developer renowned for iconic projects like the Burj Khalifa, is set to invest up to ₹2,000 crore in Mumbai and its surrounding regions over the next six to seven years.

Emaar Properties

Despite having a presence in India for nearly two decades, Emaar has previously steered clear of the Mumbai Metropolitan Region (MMR). Kalyan Chakrabarti, CEO of Emaar India, emphasized that there hasn't been a particular reason for this delay. He highlighted Mumbai's status as one of the most dynamic and robust real estate markets, anticipating its continued vibrancy for years to come.

This strategic move signals Emaar's commitment to tapping into the potential of this megacity, marking a new chapter in its Indian operations.

Flo Mobility’s presence at worlds largest robotics conference IROS 24

Flo Mobility’s team had an incredible experience at IROS 2024, where we delved into the latest breakthroughs in robotics alongside some of the brightest minds in the field. This event highlighted the future of robotics.

IROS Abu Dhabi

The event also allowed us to see some groundbreaking robots up close, sparking new ideas to apply to our mission of transforming construction. Check out more in our LinkedIn post for insights from IROS 2024! 👉 Click here

Gleeds India’s construction market report anticipates a 10% annual growth rate in the sector

Opportunities in Construction

Following are the highlights for the report.

  • Tender opportunities are most abundant in data centres (64%), followed by commercial offices and fit-out projects (61%), and residential developments (53%), indicating high demand for digital infrastructure, workplace adaptations, and housing growth.

  • According to a recent survey on expected construction inflation for a ₹100 crore project in FY2025, 44% of participants anticipate inflation in the 3%–5% range, while 27% foresee a rate between 5% and 7%.

  • Labour costs remain on an upward path, fueled by rising demand, inflationary pressures, and a shortage of skilled workers. Across cities, labour expenses have increased by an average of 7% year-on-year during the 3Q/4Q period of FY2024.

Click here to read full report.