Friday, Apr 26 2024 | Time 01:04 Hrs(IST)
image
Business EconomyPosted at: Aug 13 2019 8:10PM


Japan's softbank shows interest in Punjab's real estate sector

Chandigasrh, Aug 13 (UNI) Japan’s leading conglomerate, the Softbank Group, on Tuesday shared with Chief Minister Captain Amarinder Singhs its plans to invest in Punjab’s real estate sector, with focus on student housing through their flagship OYO startup.
A high-level delegation of the Group, led by its MD Hiroki Kimoto, called on the Chief Minister, who extended his government’s full support in the realization of Softbank’s investment plans in the state.

Captain Amarinder assured the delegation of seamless and smooth investment in the state through its single-window clearance platform, Invest Punjab, in the fast-track mode. The new Industrial Policy, coupled with lucrative incentives and facilities, was facilitating investors in a big way, with over Rs 50,000 crore investment already realized on the ground during past over two years, he said.
Earlier, briefing the delegation on the various investible projects, ACS Investment Promotion and Industries & Commerce Vini Mahajan said that Punjab had a vibrant real estate sector, with areas around Chandigarh seeing excellent growth. Punjab has witnessed over Rs 2,000 cr e-auctions over the last two years. Reputed international players are looking at affordable housing, student and senior citizen housing facility as a potential investment sector, she added.
Taking part in the deliberations, Lovely Professional University Vice Chancellor Ashok Mittal said they were in advanced talks with Softbank for a potential collaboration for the construction of student hostels, as there was a huge demand for hostel facility for the domestic as well as international students.
Notably, Softbank is one of the biggest investors in the Indian startup ecosystem, with approximately 20% of their investments in India-based businesses. The company has backed many of the domestic unicorns such as Ola, the largest ride-hailing aggregator; Oyo, the fast-growing hotel booking platform; and PayTM, the pioneer in electronic payment. Currently, the Group is investing from their technology focused $100 billion Vision Fund, with FinTech startups a key focus area. Last month, the Group had announced its second technology focused fund - Vision Fund II, with a committed capital of $108 billion which will focus on AI-based technology and Real Estate.
UNI XC JS PS 2009
Please log in to get detailed story.
Tags: #Japan's softbank shows interest in Punjab's real estate sector
More News

Arun Alagappan appointed as Executive Chairman of Coromandel International

25 Apr 2024 | 7:41 PM

Hyderabad, April 25 (UNI) Arun Alagappan has been appointed as Executive Chairman of Coromandel International Limited (CIL).

see more..

Tech Mahindra net at Rs 661 crore in Q4; Company gives dividend of Rs 28 per share

25 Apr 2024 | 7:28 PM

New Delhi, April 25 (UNI) Mahindra Group company Tech Mahindra, a technology consulting and digital solutions provider, on Thursday reported about 41 per cent decline in net profit at Rs 661 crore year-on-year basis for the fourth quarter ended March 31, 2024.

see more..

Kottayam-Kochi Rubber Market Rates

25 Apr 2024 | 7:26 PM

Kottayam, April 25 (UNI) Following were the Rubber Market rates announced by the Rubber Board here today per quintal.

see more..
Indusind Bank net up 15 pc in Q4

Indusind Bank net up 15 pc in Q4

25 Apr 2024 | 7:10 PM

New Delhi, April 25 (UNI) Leading private bank Indusind on Thursday reported a 15 percent jump in net profit at Rs 2,349 crore in Q4 of FY 2023–24, compared to Rs 2,043 crore in the same quarter in 2022–23.

see more..

25 Apr 2024 | 6:53 PM

New Delhi, April 25 (UNI) Leading private bank Indusind on Thursday reported 15 percent jump in net profit at Rs 2,349 crore in Q4 of FY 2023-24 compared to Rs 2,043 crore in the same quarter in 2022-23.

see more..
image