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Bangalore’s office realty stock set to reach 100 mn sft

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Bengaluru’s tremendous growth of the IT/ITeS industry has revolutionised the residential real estate and retail markets, and triggered massive infrastructure development.

The availability of high quality, large office spaces at sub-dollar rental levels (providing lower operational costs), access to a large skilled workforce, the growth of the retail and residential markets and Bangalore’s cosmopolitan culture have worked in the city’s favour.

Now, Bangalore is all set to reach a new milestone in its growth story the office real estate stock (Grade A occupied and vacant office space) is expected to reach 100 million square feet by 2016-17.

In 2009-’10, Bangalore’s commercial real estate stock was approximately 50 million square feet, which will be doubled in a span of just 7 years.

The addition of approximately 30 million square feet to the existing stock translates into an addition of around 3,00,000 jobs over the next 4 -5 years, which would take incomes north. Residential units being one of the most favoured traditional investment options, a rise in income could mean an investment in second homes for many households.

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Concrete

Holcim UK drives sustainable construction

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Holcim UK has released a report titled ‘Making Sustainable Construction a Reality,’ outlining its five-fold commitment to a greener future. The company aims to focus on decarbonisation, circular economy principles, smarter building methods, community engagement, and integrating nature. Based on a survey of 2,000 people, only 41 per cent felt urban spaces in the UK are sustainably built. A significant majority (82 per cent) advocated for more green spaces, 69 per cent called for government leadership in sustainability, and 54 per cent saw businesses as key players. Additionally, 80 per cent of respondents stressed the need for greater transparency from companies regarding their environmental practices.

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Concrete

GCCA releases LCR system

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The Global Cement and Concrete Association (GCCA) has launched the Low Carbon Ratings (LCR) system for cement and concrete, a new global rating based on products’ carbon footprints. The system uses a clear AA to G scale to help customers prioritise sustainability in material selection across construction sectors worldwide. The GCCA says that the LCR system is designed to be easily recognisable, with a simple visual graphic that indicates a product’s rating and provides consistency and comparability to other products.

Image source:highways.today

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Concrete

FLSmidth opens eco-friendly plant in Casablanca

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FLSmidth has inaugurated a €21 million mill liner manufacturing plant in Casablanca, covering 11,250m² with a production capacity of 6,500 tonnes annually. The LEED-certified facility significantly reduces carbon emissions by up to 56 per cent and fully recycles water used in the manufacturing process. Up to 250 jobs will be created in the Valparaíso region. Mikko Keto, CEO, highlighted the plant as a symbol of FLSmidth’s commitment to sustainable mining and community engagement in South America. Earlier in 2024, the Denmark-based company announced plans to sell its cement division to sharpen its focus on mining operations.

 

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