The Confederation of Real Estate Developers’ Associations of India (CREDAI), the apex body of private real estate developers in India, is organizing an international conference in Singapore on 28 and 29 April 2011. The convention theme is: “Igniting change in Indian Realty.”
According to the CREDAI website, the real estate and construction industry contributes nearly 20% to India’s GDP, driven largely by the rapid increase in urban population, which is likely to go up from 30% currently to 41.2% by year 2030. The Apex realty body citing a McKinsey Global Institute 2010 report says that by 2030, 590 million people will live in Indian cities, which is almost twice the population of the US today. And an investment of $1.2 trillion will be required to meet the projected demand in these cities, and about 700-900 million sq meter of land space will need to be built, or a new Chicago every year! This process of urbanization is set to make large demands on the ability of the industry to provide mass housing, buildings and other infrastructure at a rapid pace which has not been witnessed before.
The magnitude and complexity of projects under development today necessitates ‘change’ to be embraced, whereby traditional approaches must be replaced with sophisticated ones, taking inspirations from the developed markets. To cope up with the never before execution challenge, there is a need for new ideas, out of box thinking, innovation and foresight.
To serve as a breeding ground for these ideas, this conference is titled at “Igniting Change in Indian Realty.”
Given this background, the NATCON Convention in Singapore will try to achieve the following objectives, by identifying and discussing the key catalysts of change.
Source: Confederation of Real Estate Developers’ Associations of India (CREDAI)
Amy
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