Mumbai, 02 October 2024: Sustained confidence in the Indian economy continued to drive institutional investments into the real estate sector, reaching USD 4.7 billion during the first three quarters of 2024, almost at par with the corresponding period in 2023. Following significant inflows in the first two quarters, Q3 2024 also registered a healthy investment inflow of about USD 1.1 billion, reflecting a 45% YoY growth. The office segment accounted for 54% of the total investments during the quarter, followed by residential, with a 33% share. Residential inflows during Q3 2024 were particularly driven by domestic capital. Overall domestic investments remained robust at USD 0.5 billion, driving 44% of the total inflows during the quarter.

“Institutional flows in Indian realty remain consistent, indicating sustained investor confidence. The investors are well diversified between global and domestic capital. While office assets remain a key focus, industrial & warehousing and residential segments are gaining significant momentum. The newer emerging themes like fractional ownership in office & warehousing, residential platforms with developers, flexible credit, and hospitality are driving opportunities for investors. Of the total USD 4.7 billion institutional inflows during the first nine months of 2024 (Jan-Sept), over 60% were directed towards industrial & warehousing and residential assets. With continued momentum, 2024 is expected to end on a higher note, likely surpassing 2023 volumes,” said Piyush Gupta, Managing Director, Capital Markets & Investment Services at Colliers India.

In addition to continued traction in domestic capital, foreign investors also maintained a sizeable and healthy appetite for Indian real estate. At USD 0.6 billion inflows in Q3 2024, foreign investments have more than doubled compared to the investments witnessed in Q3 2023.

Investment inflows (USD million) Q3 2024–

*Note: Alternate assets include data centers, life sciences, senior housing, holiday homes, student housing, schools etc. (Investment inflows in alternate assets were limited in both Q2 and Q3 2024)

**Investment inflows in Retail were limited in Q3 2023, Q2 2024 & Q3 2024

Source: Colliers

Investment inflows (USD million) YTD 2024 –

*Note: Alternate assets include data centers, life sciences, senior housing, holiday homes, student housing, schools etc.

**Investment inflows in Retail were in YTD 2023 and YTD 2024

Source: Colliers

Quarterly investments in the Office segment surged by 6.8X times over Q3 2023

After witnessing subdued activity in the previous quarter, investments in the office segment doubled on a QoQ basis, at USD 0.6 billion inflows. At the same time, investments also rose by 6.8X times as compared to the same period last year. Foreign investments accounted for 88% of the total inflows into the segment during Q3 2024. Going forward, robust demand and supply momentum in Grade A office spaces across the top markets will keep the investor confidence buoyant.

Apart from office assets, residential assets too witnessed notable inflows during the quarter at USD 0.4 billion, witnessing a substantial surge of 40% on a YoY basis.

“Private equity investments in the residential segment are on the rise, fuelled by home-ownership trends and growing interest from domestic as well as foreign institutional investors. In the first nine months of 2024, investments in the segment crossed USD 1 billion, marking a significant 46% year-on-year increase. Q3 2024 alone saw USD 0.4 billion in residential investments, accounting for one-third of the total investments in the quarter. Most of these investments were directed towards developmental assets, as institutional investors continue to partner with reputed developers in marquee residential projects. With a conducive domestic environment, ongoing festive season and a much-anticipated reduction in interest rates, investor confidence in India’s residential real estate market is poised to remain intact,” said Vimal Nadar, Senior Director and Head of Research, Colliers India.

Chennai & Mumbai together drove about 57% of the quarterly inflows

Chennai and Mumbai together accounted for about 57% of the total inflows during Q3 2024 backed by key acquisitions in office segment. Almost 70% of the inflows in Chennai during the quarter were driven by foreign investments. Mumbai and Delhi NCR cumulatively witnessed about 44% of the total quarterly investments in the residential segment. Furthermore, multi-city investments corresponded to 30% of the overall inflows during Q3 2024 and were predominantly directed towards office and residential asset classes.

City-wise investment inflows in Q3 2024 –

Source: Colliers

Note: * Investment inflows in Hyderabad were limited in both quarters

Hyundai Card hosts the first day of the ‘2024 Hyundai Card DaVinci MOTEL’ event at its branded spaces in Seoul’s Itaewon district on September 27. This 3-day event brings unique K-culture experiences to local and international visitors. The event features cultural icons from the arts, academia, business, and technology sectors who will present various programs, including talk shows, live performances, exhibitions, and busking.

This year, from September 27 through 29, the event will feature 39 curated sessions covering a range of topics, including history, science, law, and K-culture.

Popular Korean hip-hop artist, GIRIBOY, performs at Understage, one of Hyundai Card’s branded venues in Itaewon, on the first day of the 2024 Hyundai Card DaVinci MOTEL festival. A fully captivated audience enjoyed GIRIBOY’s passionate and energetic hip-hop performance. ‘2024 Hyundai Card DaVinci MOTEL,’ the only threeday cultural and intellectual festival in Korea, will be held until September 29 in Seoul’s Itaewon district.

INDIA, September 24, 2024 – Honeywell (Nasdaq: HON) today announced that it is working to develop an artificial intelligence (AI)-enabled Multi-Modal Intelligent Agent for Honeywell mobile devices powered by Qualcomm Technologies, Inc. The agent will allow workers and customers in the distribution center and retail industries to interact naturally with their handheld devices through voice, pictures, and barcodes.

This AI-powered solution is built to function as a digital resource for the modern labor force and designed to enable today’s stretched workforce to quickly tap into answers and outcomes, helping result in time savings, greater accuracy, and interactive results. The design and development of the Multi-Modal Intelligent Agent also supports Honeywell’s alignment of its portfolio to three compelling megatrends, including automation.

Workers will be able to enter data into the technology and then receive practical answers to queries like, “Do we have the gluten-free variant of this product in stock?” or “Where can I find this particular item in the store?” Depending on the question, users will receive responses in the form of an image, video, spoken response, text answer, or a combination of several modalities. This functionality is designed to enable workers to more efficiently complete their work while simultaneously navigating other ongoing tasks, such as assisting customers in a retail setting or performing multi-step workflows in a distribution center. The solution will be available to users through a software development kit that can integrate with an organization’s existing applications and systems.

“Utilizing our strengths in on-device generative AI, high-performance and low power computing, this collaboration with Honeywell underscores our commitment to pioneering innovative solutions that will propel the expansion of the connected intelligent edge,” said Nakul Duggal, group general manager, of automotive, industrial and embedded IoT, and cloud computing, Qualcomm Technologies, Inc. “Honeywell’s new Multi-Modal Intelligent Agent represents a significant step forward in utilizing advanced edge AI to streamline operations and elevate customer interactions across industries. This initiative enables us to drive digital transformation, enhancing how businesses interact with their environments through intelligent and responsive technology.”

“By pairing Honeywell’s easy-to-use mobile devices and intelligent software with Qualcomm Technologies’ industry-leading edge AI processors, Honeywell is creating solutions to make workers’ jobs easier while also helping businesses produce the stellar experience they want for their customers,” said Jason Urso, Honeywell Industrial Automation chief technology officer. “With AI, Honeywell is amplifying what’s possible for businesses with mobile workers today.”

The Multi-Modal Intelligent Agent is expected to be available in early 2025. To learn more about how Honeywell is leveraging AI across key industries, visit: https://automation.honeywell.com/us/en/solutions/productivity.

Meghalaya, renowned for its verdant landscapes and rich biodiversity, is emerging as a key hub for organic farming in India. The state has embarked on various initiatives aimed at transforming agricultural practices and promoting sustainable livelihoods for its farmers. The state has been diligently implementing various schemes initiated by both the Central and State Governments to encourage the conversion of agricultural land into certified organic holdings. Notable among these initiatives is the Meghalaya Organic Value Chain Development for Northeastern Region (MOVCDNER) scheme, the State Organic Mission which has the ambitious objective of converting and sustaining 1 lakh hectares of land into certified organic. At present, 24,000 hectares of land have achieved organic certification, while an additional 8,000 hectares are in the conversion phase.

To further support and consolidate these efforts, the Cabinet approved the Meghalaya State Organic and Natural Farming policy on 11th January 2023. The policy outlines key objectives, including promoting organic farming as a sustainable income-generating activity for farmers, facilitating capacity building, investment, and technology development, and increasing farmers’ income through training, value addition, and market linkage.

To drive the effective implementation of this policy, the Meghalaya Natural and Organic Society for Livelihood and Innovation in Agriculture (MEGNOLIA) was established on June 1, 2023. Registered under the Societies Registration Act, MEGNOLIA functions as the apex body under the Department of Agriculture and Farmers’ Welfare Government of Meghalaya responsible for overseeing, coordinating, and executing the Organic and Natural Farming Policy in Meghalaya. MEGNOLIA’s primary goals include managing the implementation of the policy, supporting Farmer Producer Organizations (FPOs) and Farmer Producer Companies (FPCs) to professionalize organic production and marketing, promoting agro-industrial growth rooted in ecological sustainability, facilitating technology transfer, and fostering knowledge sharing among stakeholders.

Certification plays a critical role in organic farming. In Meghalaya, certification bodies ensure that farming practices adhere to the rigorous standards set by national and international organizations. Meghalaya now has its own APEDA-certified organic certification agency, the Meghalaya State Organic Certification Body, under the Planning Department. This makes it only the second such agency in the Northeast, following the Sikkim State Organic Certification Agency. With this development, the organic certification process for our farmers becomes more streamlined, as they no longer need to rely on agencies primarily based in Western and Southern India.

A major milestone in advancing Meghalaya’s organic farming sector was the signing of a Memorandum of Understanding (MOU) between MEGNOLIA and the National Cooperatives of Organic Limited (NCOL) on September 20, 2024 in the World Food India 2024. This partnership seeks to improve the procurement, marketing, and sale of organic products from Meghalaya. As part of the MOU, MEGNOLIA will link certified organic farmers with NCOL, help them obtain procurement approvals, and cover the costs of organic certification. In turn, NCOL will purchase organic products from these farmers, manage logistics, and ensure direct compensation to both farmers and service providers. This collaboration marks a significant step toward establishing a sustainable and profitable organic farming model in Meghalaya, improving farmer livelihoods while fostering environmental stewardship.

The government’s initiatives, embodied in the organic farming policy and led by MEGNOLIA, signal a bright future for organic agriculture in Meghalaya. Strategic partnerships, such as the one with NCOL, position the state to meet the growing demand for organic produce and champion sustainable farming practices that benefit both farmers and the environment.