“India’s Real Estate industry to grow to US$ 850 Billion by 2028”: Jason Kothari – CEO, Housing.com

Challenges of India’s Real Estate sector discussed at an international public forum during the 2^nd Estrade Real Estate Awards, powered by Housing.com

Singapore, October 28, 2016:The 2^nd Estrade Real Estate Awards powered by housing.com were hosted at the Grand Cop throne,Waterfront, Singapore. Renowned Indian architect Benny Kuriakose was conferred with the 2016 Estrade Lifetime Achievement award by the guest of honor Mr. Jason Kothari, CEO, Housing.com

Estrade Awards 2016 saw an overwhelming response with over 200 nominations received this year. The judges had a grueling task of choosing 29 awardees, who were felicitated at the awards night held on Friday 21^st October 2016 in Singapore. For the first time Estrade Media Pte. Ltd. also introduced Estrade BUILT Awards Category that included companies from the Building Utilities sector.

The panel discussion on the challenges faced by India’s real estate sector was the highlight of the evening. Vishwasjeet Singh, Editor-in-chief, www.estrade.in moderated the power packed session which included AmitBhasin, Head Strategy, Housing.com along with the renowned Architect Christopher Benninger and Estrade Jury Member ArshiPathan. The topics discussed include, Government of India’s SMART cities project, Affordable housing – which is Hon’ble PM Shri Narendra Modi Ji’s dream project “Housing for All by 2022”, Funding in the Real Estate/Infrastructure Sector and new trends in Real Estate Architecture. This was the first time challenges faced by India’s Real Estate sector were discussed at an international public forum.

Speaking at the Awards night, Jason Kothari, CEO, Housing.com said, “The Real Estate sector is projected to grow 14% year on year and grow to US$ 850 billion by 2028, accounting for about 13% of the GDP. Economic growth is projected to be 8% over the next 10 years, the highest in the world. Urbanization is expected to grow from 32% to 50% by 2050, this means that around 400 million people will be moving to urban areas.The Government’s introduction of various initiatives, such as RERA (Real Estate Regulatory Authority), Housing for All by 2022 and easing for norms for FDI, make this the most exciting sector in not just India, but globally. I think that we are all very lucky to be at this time and place, and be a part of this exciting story in India over the next 10 years.”

Vishwasjeet Singh, Editor-in-Chief, www.estrade.in said, “Real Estate sector alone contributes more than US$ 100 billion to India’s economy, accounting for roughly 5% of the GDP. With the Government’s push for better infrastructure, the potential for growth and opportunities is endless for all players.” He further added,“When you see that Real Estate and Building Utilities players complement each other, a combined platform to bring them together is a major win for all. Moreover, Singapore being the financialand technological hub, and a leader across industries, offers great learning to Indian professionals. Estrade awards bring together the key stake holders every year.”

Estrade Jury Member ArshiPathan, Director, Moonpool Consulting Pte. Ltd also said, “There has to be an amalgamation of Commercial and Residential players to create better funding opportunities and make self sustaining townships.” Adding further, “you can’t retrofit old cities with haphazard new technology and call them SMART cities. We need a holistic and inclusive approach from the inception stage of such projects.”

This awards night was attended by who’s who of India’s Real Estate and Building Materials industry professionals. Estrade Awards, Singapore, is a strong networking platform to recognise the contribution of Indian professionals that include the real estate developers, building utilities, architects and interior designers.

2^nd Estrade Real Estate Awards and Inaugural Built Awards 2016 – Awardees List

Corporate Comm India(CCI Newswire)