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Fiis And Real Estate Investments By Property
The rules governing FDI in the development sector.Some time ago the government had permitted 100 percent FDI in and development projects. development projects include housing, commercial premises, hotels, resorts, hospitals, educational institutions, recreational facilities, city and regional level infrastructure.
Previously, only non-resident Indians (NRIs) and persons of Indian origin (PIOs) were permitted to invest in the housing and real estate sectors. Foreign investors, other than NRIs, were allowed only in development of integrated townships and settlements either through a wholly-owned subsidiary or through a joint venture company in India along with a local Indian partner.
Conditions for foreign entities to come into the sector were very restrictive. They were not allowed to make any equity investments in the sector and the area of their involvement was limited to providing engineering, architectural and designing services.
The minimum area they were required to develop was 100 acres (40 hectares), a minimum of 2,000 houses or for at least 10,000 people. Foreign companies were allowed to invest upfront USD10 million for wholly-owned subsidiaries and USD5 million for joint ventures, with a lock-in period of three years.
Last year, the government had permitted 100 percent foreign direct investment (FDI) on the automatic route in the development sector, covering a range of areas from hotel resorts to integrated
New Business Opportunity Made Possible by Foreclosed Homes
Millions of vacant homes and a boom in foreclosed homes nationwide have created a lucrative new business opportunity for people looking to break into the foreclosure cleanout industry, says author of "Make Money Cleaning Out and Maintaining Foreclosures" and president of J T Stewart Enterprises, Inc. (PRWeb Dec 2, 2008)
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Dallas Sets Sights on Fully Sustainable Square Block Downtown: Local, National Leadership Converge In Dallas to Examine Impact, Design
The City of Dallas will host a full-day "Design Charrette" this Friday to examine the necessary framework and community impact of what will become the first fully sustainable, urban square block in the United States. The Charrette, attended by community design and urban planning experts from across the nation, will be held at City Hall from 8:30 am until 5:30 pm. The outcome of the day will include a series of recommendations which will in turn structure an international design competition to create the actual block. That competition, hosted by Urban Re:Vision and kicking off in January 2009, will invite architects and planners from around the world to translate the needs of the Dallas Community into structural designs for the future city block. (PRWeb Dec 2, 2008)
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Grant McCullagh Joins RCMS Group Advisory Board; Former AECOM Vice Chairman to Lend Experience to BIM Services Firm
RCMS Group, the industry leader in Building Information Modeling (BIM) services to the design and construction marketplace, today announced that Grant McCullagh has joined its Board of Advisors. Mr. McCullagh is a highly regarded leader in the engineering and construction industry. Having served as Vice Chairman of AECOM, Co-founder & CEO of McClier Corporation, and Vice President of The Austin Company, Mr. McCullagh's industry experience is wide as well as deep. Mr. McCullagh also has a strong background in global markets where services have included program management, engineering, construction management, design/build, management consulting, and O&M services. (PRWeb Dec 2, 2008)
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North Carolina Company Places Cure to Housing Industry Woes in the Palm of Your Hand
Getta Jumpr, LLC introduces its on-demand, mobile, software-suite for the real estate and housing industry. Jumpr allows individuals and professionals alike to simply, quickly and accurately estimate property conditions, make property transaction decisions, plan home improvement and remodeling projects and provide easy team collaboration and project management solutions. (PRWeb Dec 2, 2008)
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Jamaica Real Estate Is The New Safe Haven For US Stock Market Investors
American investors are venturing abroad to buy Jamaica property as a lower cost option yielding an annual rate of return of more than 10% and providing steady rental income. With Eastern Europe and Asian markets collapsing under the weight of the credit crisis, the unscathed Caribbean islands have become a very attractive investment location especially in Jamaica real estate. (PRWeb Dec 2, 2008)
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There is Still Time to Paint to Make Your Home Shine This Holiday Season
Paint this weekend and turn the inside of your home into a warm, colorful gathering spot for the holiday season. For less than the cost of dinner out, you and your family can transform the look of any room in the house. There is something for everyone to do as you add cheer, fun – and a touch of family pride – to this holiday season. And the room will look great, too. Here are three holiday paint tips from the experts at Rohm and Haas’s Paint Quality Institute to help get your home holiday-ready: (PRWeb Dec 2, 2008)
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TRA Continues Leadership in Safety Management Software with IndustrySafe Safety Software Release 3.08
TRA is pleased to announce the release of Version 3.08 of IndustrySafe Safety Management Software, adding enhanced features and functionality to IndustrySafe's safety data management capability. IndustrySafe Safety Software provides organizations with incident tracking, OSHA reporting, inspections, training tracking, claims, hazards, corrective actions and more. (PRWeb Dec 2, 2008)
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HBH Gas Systems to Install Community Propane Gas System at The Villas at Lakecliff Near Austin, Texas
HBH Gas Systems and the developers of The Villas at Lakecliff have partnered to bring eco-friendly, affordable gas fuel to the homebuyers in this new upscale community just west of Austin, Texas. Because the community is located in an area that lacks access to natural gas, the developers turned to HBH Gas Systems to provide turn-key gas utilities with a Central Community Gas System. This Central Community Gas System will provide individually metered gas utilities to the 71 single-family detached residential units in The Villas at Lakecliff. The system will be serviced, metered, and billed just like natural gas; the gas is piped underground from a centralized facility. (PRWeb Dec 1, 2008)
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Americas Watchdog Wants to Talk to the Employees of Major U.S. Homebuilders About Undocumented Construction Workers and a Possible Reward
Americas Watchdog and its Wall Street Fraud Watchdog have been investigating the employment practices of the largest homebuilders in the US for five years, with the conclusion that millions of undocumented workers did most of the building. The problem: while most of the undocumented workers were classified as "sub-contractors", they were in fact full time employees, and they did not receive overtime, or other benefits afforded to US full time employees. According to the Wall Street Fraud Watchdog & the Homeowners Consumer Center, "if big US homebuilders think they are about to get a windfall from the US taxpayers, think again, its show & tell time. Start thinking about prison, if you are a large US residential homebuilder CEO, COO or CFO." Large US homebuilder superintendents or executives with substantial proof may be eligible for a significant reward. Large US homebuilder superintendents or executives can call the Wall Street Fraud Watchdog anytime at 866-714-6466 or visit their web site at http://WallStreetFraudWatchdog.com. (PRWeb Dec 1, 2008)
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Shaikh Holdings Wins Best International Golf Development Award For Sanctuary Falls
Shaikh Holdings, a leading Dubai based real estate investment and development company, has won the 2008 'Best International Golf Development' award for their Sanctuary Falls development at the International Property Awards held at the Ritz-Carlton in Orlando, Florida on 7th November, 2008. (PRWeb Dec 1, 2008)
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Used Machinery Sales Online: EquipmentAlley.com Opens the Bidding
A new online Web site for used agricultural and construction equipment provides users with the opportunity to bid on used equipment from sources around the world as well as their own regions. EquipmentAlley.com offers a centralized marketplace for users to find, list, buy or sell, with no fees or charges to bidders and buyers. (PRWeb Dec 1, 2008)
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Mesothelioma Law Firm Reaches Out to Patients and Families Online
SimmonsCooper, a nationwide law firm dedicated to helping patients and families affected by mesothelioma, a rare cancer caused by asbestos exposure, has launched a new blog for education and support. (PRWeb Dec 1, 2008)
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Industry Experts to Headline the NDRExpo's Debut Conference Program
National disaster recovery and reconstruction experts headline the first National Disaster Reconstruction Expo's (NDRExpo) conference program. The NDRExpo was developed to unite the numerous vertical markets associated with disaster preparation, response, recovery and rebuilding. (PRWeb Dec 1, 2008)
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EGL Company Announces New Head Phosphor and Coatings Engineer
EGL Company, Inc., a New Jersey based manufacturer of specialty lighting products serving the neon sign and custom lighting industry is proud to announce the appointment of John Tulk as head phosphor and coatings engineer. At EGL John will focus on developing new coatings and colors that offer more lumens per watt than traditional neon colors, as well as perfecting EGL's neon phosphor and coatings for the P.O.P and neon signage industry. John's background at Sylvania, Osram Lighting, and Voltarc Technologies, Inc. make him the perfect match to the unique challenges he will face at EGL. (PRWeb Dec 1, 2008)
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Mesothelioma Victims Center to Expand Its Services for U.S. Veterans Struggling to Get Treatment for Mesothelioma in the U.S. VA Healthcare System
The Mesothelioma Victims Center is the premier advocacy group in the US for Veterans, or US citizens, who have been diagnosed with mesothelioma. The group is now expanding its services for US Navy or US Armed Forces Veterans who, because of exposure to asbestos, have been diagnosed with mesothelioma. The Mesothelioma Victims Center will now help all mesothelioma victims or their families who served in the US Armed Forces, to insure they get the best possible treatment from the VA. The group will also work with a mesothelioma victim or their families on topics ranging from obtaining the names of the absolute best law firms in the nation to assist the victims and their families, to help with VA or Social Security benefits, to a tailor suited report, as to what could be the best treatment options in the area of the mesothelioma victim-all at no charge. There is no service in the world that even comes close to the Mesothelioma Victims Center. Mesothelioma victims or their families can call the Mesothelioma Victims Center anytime at 866-714-6466 or visit their visit their web site anytime at http://MesotheliomaVictimsCenter.com (PRWeb Dec 1, 2008)
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December 17 Conference Call to Discuss Residential Construction Lending
Granite Loan Management (GLM) together with National Association of Residential Construction Lenders (NARCL) - a nonprofit national trade association representing financial service providers in the residential construction industry will be hosting an "ALL MEMBER" conference call on Wednesday, December 17, 2008 at 2:00 PM (EST). (PRWeb Dec 1, 2008)
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Mecmesin: "Let There Be Light!"
Mecmesin has helped an electrical contractor carry out testing of a local authorities' town centre Christmas lighting display, to meet the requirements of a new safety code of practice. (PRWeb Nov 30, 2008)
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We got Timing Right, says Anglian Home Improvements
One of the biggest names in the double glazing and home improvements industry yesterday predicted that profits will rise this year despite the slowing economy, troubled housing market and dented consumer confidence.Anglian Home Improvements said revenues were down but profits were up in the six months to September - and forecast a better financial performance this year than last. (PRWeb Nov 29, 2008)
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HQ of Leading UK Supermarket Chain Adopts Rainwater Harvesting to Help the Environment
Involvement in what is probably the UK's largest rainwater harvesting scheme at Morrisons' headquarters in Bradford prompted Mike McKee, managing director of gutter and roof trim specialist, Guttermaster, to consider how this technology can be used in other building applications. Rainwater harvesting is a simple and relatively low cost technique that can deliver immediate benefits, have a short pay back and produce an enduring legacy. (PRWeb Nov 29, 2008)
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Copper Exclusive to Offer Consulting and Instruction Services for Fine Metal Roofing Techniques
Erno Óvári, one of the world's top copper and fine metal roofing artisans brings his European background, experience and education to benefit the American fine metal roofer. The disparity between the educational opportunities for craftspeople in America versus Europe is great. Óvári hopes to help usher in an era of quality American building craftsmanship by sharing his vast knowledge with others. (PRWeb Nov 28, 2008)
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Clarksonic Ultrasonic Flow Transmitters Bring "Sing Around" Technology to Wide Range of Applications
Clark Solutions ClarkSonic Ultrasonic Flow Transmitters are ideal for measuring flow in most clean liquids and many liquids with entrained solids. Applications include monitoring flow rates of chilled or heated water as part of a green technology program as well as in municipal, process, and industrial systems. ClarkSonic Ultrasonic Flow Transmitters free users from having to calibrate the transmitter to fluid temperature, viscosity, or density making them very easy to deploy and very reliable. (PRWeb Nov 27, 2008)
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ConcreteNetwork.com Releases New Concrete Calculator Widget for Contractors
ConcreteNetwork.com offers a downloadable concrete calculator widget for convenient calculations. The calculator widget allows contractors to calculate precise amounts of concrete needed to complete concrete slabs, footings and columns. (PRWeb Nov 26, 2008)
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F-GAS Regulations - Preparation Theory Course is OUT NOW
A first class preparation course on the theoretical knowledge required to obtain the new F-GAS Certification is available at elearning-training.com from now. (PRWeb Nov 26, 2008)
Instead of the earlier restricted norms permitting foreign investments only in integrated townships, it was decided to permit 100 percent FDI in all forms of housing, commercial premises, hotels, resorts, hospitals, educational institutions, recreational facilities, city and regional level infrastructure.
In case of commercial development projects like building of shopping malls or hotels, a minimum of 50,000 square meters has to be built under each project.
Foreign investment is also allowed in office accommodation. The minimum capital requirement for foreign firms setting up wholly-owned subsidiaries in the sector is USD10 million and USD5 million for joint ventures.
The funds have to be brought in within six months of commencement of business and foreign firms are not allowed to repatriate their original earnings before three years unless an early exit is cleared by the FIPB.
These projects need to conform to the norms and standards, including land use requirements and provision of community amenities and common facilities as laid down in the applicable building control regulations , byelaws, rules and other regulations of the state governments , municipal bodies or local bodies concerned.
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Nigeria: Boost For Lagos Megacity Project As the Lagos State Government prepares to go into the building of its megacity, other private investors are queuing to be part of the mega project. Liberia: Govt, Chinese Company Signed U.S.$8 Million to Revamp SKD Hotel An agreement valued US$8 million aimed at refurbishing the Samuel Kanyon Doe Sports Complex (SKD) hotels has been signed between the Liberian government and the Chinese group, Golden Gate Group. Ethiopia: Bole Road Project up for Grabs Again The Addis Abeba City Roads Authority (AACRA) has short listed 15 foreign companies engaged in road construction projects in various parts of the country for the award of the huge Africa Avenue (Bole Road) upgrading project. Nigeria: Developers Offer Multiple Options At Ofada In their quest to further open up the area for more construction activities, three developing firms are currently undertaking various developments in Ofada Town in Ogun State. Nigeria: Work Begins On Green Oak Park Estate The multi-million Naira Green Oak Park estate located on the Mowe-Ofada axis, barring any unforeseen circumstances, is expected to be completed in 18 months time, going by the words of the developers, Cross and Churchill Realtors Limited. Nigeria: Mowe-Ofada Corridor Records Unprecedented Construction Activities Real estate activities on the Mowe-Ofada axis along the Lagos-Ibadan Expressway seem to have peaked in the last couple of months due to the increase in the tempo of construction activities that have been witnessed there. Nigeria: Kwara Local Council to Build 200 Housing Units Ilorin East Local Government Council in Kwara State has commended moves to build 200 housing units, in collaboration with a private developer. Uganda: Government to Build Drug Control Laboratory THE Government is to build a modern complex to house both the National Drug Authority (NDA) headquarters and a drug quality control laboratory, the health general duties state minister has said. Uganda: U.S. Army Rebuilds Aromo Bridge THE United States Army working under the US Central Joint Task Force Horn of Africa has started reconstructing Aromo Bridge in Lira District. Angola: BDA Invests Over Usd 40 Million in Construction Materials Angola's Development Bank (BDA) has invested about Usd 42 million in 12 construction material production projects in the provinces of Luanda, Cabinda, Bengo, Huambo and Kwanza Norte, aiming at speeding up the national reconstruction programme. Nigeria: Reprieve As 10-Lane Lagos/Badagry Road Gets Underway The Lagos State Governor, Mr. Babatunde Fashola, has estimated that the planned expansion of the 48-year-old Lagos-Badagry Expressway to a 10-lane expressway will cost about N220 billion. Fashola, who made this known recently, stated that the road design had been completed, and was elated at the prospective economic impact the project will have on the state and the country at large when completed. According to him, all that is left for the project to kick-off is for the consultants to go back and make consequential amendment. Cameroon: Governor Wants Wayward Contractors Sanctioned The Governor of the East Region, Lélé Lafrique Adolph, has exhorted the East Regional representative of the National Order of Civil Engineers, known by its French acronym, ONIGC, Ayissi Nicaise, to bring errant contractors to order. Nigeria: Badagry Expressway - 10 Firms Show Interest Big construction companies have started indicating interest in Lagos State's proposed 10-lane Badagry Expressway. Zambia: Nigerian Investor to Build Luxury 'City' in Lusaka A NIGERIAN investor will set up a US $250 million sub-urban centre in Palabana area in Lusaka district with all modern facilities. Angola: Government Invests in Construction Materials Industry Angolan deputy minister of Public Works, Manuela Bezerra, said Wednesday in Luanda that the Government is carrying out a programme designed to re-activate the construction materials industry in the country. Uganda: Kumi Gets Classrooms TWO new fully furnished classroom blocks have been donated to Onyede and Obosoi primary schools in Kumi district. Nigeria: Between Uyo Entertainment Centre And Abuja Waterparks The proposed Entertainment Centre by Governor Akpabio on about 6-hectres of land would when completed host the tallest building in Akwa Ibom of a 250-room Hotel, 10,000-seater Dome, a Water Fall and Shopping Mall. While the Abuja Waterparks Island being proposed by private investors would be on a 10-hectres of land beside the only Lake in the heart of FCT within Cadastral Zone 1, Kado District. It would host a ship-like 230-room Hotel, 3,500-seater Multi-purpose Hall (Dome) and shopping facilities, etc. Uganda: Gayaza Road Gets Tarmac THE Gayaza-Zirobwe road will be tarmacked by the end of next year, the President said yesterday. South Africa: Murray & Roberts Feels Credit Squeeze MURRAY & Roberts, one of SA's big four construction companies, said yesterday it had delayed or suspended some of its projects as some clients experienced cash-flow problems in the global credit crunch. Uganda: Dott Starts Sh10.4 Billion Works DOTT Services has started the sh10.4b rehabilitation of the 23.3km Kampala-Mukono and Kampala-Kawempe roads. The contract is supervised by the Uganda National Roads Authority (UNRA). South Africa: DME Assures Fifa of Energy Security for 2010 Minister of Minerals and Energy Buyelwa Sonjica told FIFA delegates on Monday that her department, the custodian of energy security, will ensure energy supply for both football tournaments. Nigeria: Ondo Awards N4 Billion Road Contracts CONTRACTS worth N4.25billion have been awarded by the Ondo State Government for the construction and rehabilitation of major roads in the state. Uganda: Tirupati to Set Up $10 Million Mall Tirupati Development (U) Limited, one of the construction companies in Uganda is to set up a US$10m shopping mall along Nsambya-Ggaba Road. Nigeria: EFCC Verifies List of FG Contractors Economic and Financial Crimes Commission (EFCC) has begun verification of the list of contractors working with the Federal Government to determine their authenticity. Nigeria: Developers Speed Up Umuahia Market Project For the people of South East, Nigeria, whose most thriving industry is commerce and trade, the building of Umuahia Ultramodern Market is about all the leverage the people need to prosperity. Nigeria: Stable Building Materials Prices Ignite Construction Activities It has been observed that construction activities across the country have been at their highest peak in the year and that despite the huge construction works going on, prices of building materials have remained stable in the market. Namibia: Ongwediva Gets Shopping Mall A 10 000-square-metre shopping mall is being built at Ongwediva by Makalani Real Estate in conjunction with Tuhumeko Property Developers and M.R. Scmidt Construction at a cost of N$54 million. Nigeria: Construction of Badagry Dual Carriage Way - Lagos Government Screens Ten Contractors The Lagos State Government has screened 10 contractors who have indicated readiness to re construct the present Lagos -Badagry Road to a 10 lane dual carriageway with light rail public transport on the median and a Bus Rapid Transit (BRT) System that will transform the road to a super highway. Angola: Government Builds Over 1,000 Class-Rooms A total of 169 schools, corresponding to 1,946 class-rooms, were built this year in northern Uige province, as part of the Government's policy to improve the conditions for education in the region, through the public investment programme. Uganda: Lenders Glad With Bujagali Progress THE partners of the Bujagali hydropower project are satisfied with the progress of the construction works and other related activities at the Jinja-based plant.
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