Chillin' out till it needs to be funded
Preview: Mumbai and Bangalore have had a recent revival in urban transportation projects with the CEntral Railways Western Line expansion and similar projects in urban renewal for the Parel to (TBD) Central Line $1 bn project well funded by World Bank. Bangalore Metro comes online as also new projects in terminal buildings at 15 airports incl Ahmedabad.
The greenfield land at the starting point of the MUTP/monorail project went for a cool $1 bn with Lodha investing in Mumbai’s renewal in a fresh patch. Meanwhile earlier investments from Phoenix and Unitech are still awaiting go live and infrastructure gaps continue to be alarming.
Bangalore’s urban sustainability and Eco friendliness index outscored others in India but came in at 130 and lower in recent survey across Asia, India’s urban boom proving to be a continuing mirage of growing numbers in investments and traffic. Auto and DTH sectors led FY 2010 while our share of CRE remains a minimal $10bn of a low $66bn in Asia and $10T globally held by international investors.