Joining the big league of the global hotel chains expanding in India, Hong Kong-based $2 billion JB group will set up as many as 20 hotels and shopping malls in the country over the next three years.
Move raises doubts about the viability of the business model in organised retail.
Real estate companies are rushing in on the opportunities galore around the two SEZs promoted by Reliance Industries.
With his Mumbai sojourn,Wal-Mart Vice-Chairman Michael Duke gave enough signals that Wal-Mart is testing waters before it actually enters the organised retail in India.
To begin with, Dawnay Day has entered into a joint venture with a Bangalore-based family to develop a mixed property development including office and retail on 16 acres with an investment of Rs 400 crore.
Small- and medium-sized realty firms are scouting for private equity funds to finance forthcoming projects as bank funds have dried up following concerns over high credit growth to the sector.
The market for medium price segment flats, in the price band of Rs 40 lakh (Rs 4 million) to Rs 90 lakh (Rs 9 million), is tapering off in the major suburbs of Mumbai.
Having almost sealed a JV with coffee chain Starbucks and fast food chain Burger King for a possible alliance, retail major Pantaloon is eyeing the apparel space.
Earlier, there were reports about Pantaloon tying up with the Seattle-based coffee chain Starbucks for its India foray.
Food and grocery retail chain Spinach wants to leverage on the strength of local kiranawalas for growth.
The company has lined up exclusive outlets, international brands and expansion of production capacities for exports.
The UB group may introduce a format of lounge bars where it will sell multi-branded merchandise and invest nearly Rs 8-10 crore (Rs 80-100 million) in each of the stores.
Retail major Shoppers' Stop, part of the K Raheja Corp, is consolidating its luxury retail business by roping in over 40 global brands and has lined up Rs 500 crore
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