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Luxury housing averts slowdown in realty sector

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According to a JLL report, approximately 45,000 luxury housing units were launched in financial year 2016 with the top nine cities constituting 21 per cent of the total residential launches.

Bengaluru leads the list with 30 per cent of luxury home launches followed by Mumbai which comprised 17 per cent of the launches across India. Bengaluru also leads in luxury home sales constituting 29 per cent of the total in financial year 2016 followed by Mumbai reporting 16 per cent of sales. Pune comes third with 15 per cent of sales. In total, 47,000 luxury units were sold in the top nine cities accounting for 17 per cent of the total residential sales in the country.

"Evidently, the much-hyped gloom and doom story is vastly exaggerated. Media stories – which predicted that luxury housing in India is finished – lost sight of the fact that luxury housing caters to a specific segment of demand which, like the demand for budget and mid-income housing, has not gone away. India’s wealthier home buyers still want high-class homes with all the bells and whistles of sophistication in great locations," said Ashwinder Raj Singh, CEO (residential services) of JLL India.

Vivek Singhal, spokesman of M3M Group, echoed a similar sentiment. "The share of luxury housing in the overall housing market may come down marginally. However, this is due to the overall increase in the housing market size. With rapid GDP growth, India is poised to become a $4-trillion economy in the next five-seven years. This will result in substantial increase in the number of millionaires and HNIs, driving the demand for luxury housing. However, luxury housing requires a high level of meticulous planning, positioning, and branding of projects," Singhal said.

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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.

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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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