We are focused on two growth areas:
Suburban Townships: We are continuing to acquire parcels of land in up-and-coming suburban areas of major Indian cities that offer us the potential to develop mixed-use townships—self-contained, fully-integrated and well-connected communities featuring a dynamic mix of modern residential, commercial, retail and social spaces, all set in ecologically healthy environments. We are also continuously working with local and central government agencies to have the land designated for mixed use development.
City Centres: We are developing joint ventures with developers of residential micro-projects in city centres.
India currently has a housing shortage of 22 million units, and as the Indian economy grows, demand for both residential and commercial properties is forecast to rise substantially. Demand for housing is particularly acute in India’s urban and suburban areas, driven by India’s massive and growing middle class. It has been estimated that by 2030, some 590 million people will live in India’s cities. At the same time, increasing urbanization has greatly strained local infrastructure in major Indian cities and towns.
The Indian government has announced several initiatives to improve India’s housing and infrastructure. The government also plans to rejuvenate city centres that, among other things, are seeing developers replace older apartment buildings with larger, modern residential high-rises featuring top-quality infrastructure.
All this provides H Living with a great opportunity to create value by leveraging our vast experience in real estate development in India.