Highlighting key global challenges and opportunities that could bring about an infrastructural transformation in the country, the ‘Urban & Rural Development Week’ at the India Pavilion, Expo 2020 Dubai, today hosted key government-industry discussions. The session centred around themes such as Smart and Sustainable Transportation, Alternate Real Estate, and Building Smart, Liveable and Sustainable Cities saw participation from eminent industry leaders.
The panel discussion on ‘Alternate Real Estate’ highlighted new opportunities that are emerging from alternate real estate sectors like data centres, warehousing, and logistics. It also discussed the roadmap for the sector on Environmental, Social and Governance (ESG), infrastructure and economy.
Addressing the session, Mr. Sanjay Dutt, Joint Chairman, FICCI Real Estate Committee & CEO, Tata Realty & Infrastructure Ltd said, “Financial Capitals of the world have 5-6% yields in real estate. In India, the cost is low comparatively, so it’s a good market for investment.”
Highlighting the opportunities in the sector, Mr. PNC Menon, Founder & Chairman, Sobha Group said, “India is a land of huge potential and will surely make a mark for itself in the international real estate arena in the coming decade.”
“The Indian Real Estate Sector is expected to touch USD 1 trillion by 2030. India has already invested USD 300 billion in real estate, which is much more than the value of stock market,” said, Mr. Ramesh Nair, CEO, India & MD, Market Development, Asia at Colliers.
Mr. Sharad Mittal, CEO, Motilal Oswal Real Estate said, “Frugal student housing and young professional student housing can impact the real estate market, especially when the interest rate comes down.”
The session on ‘Smart and Sustainable Transportation’ was presided over by Mr Jaideep, OSD (Urban Transport), Ministry of Housing and Urban Affairs; Dr Brijesh Dixit, MD, Maha Metro; Dr. OP Aagarwal, Chairman FICCI Working Group on Future of Mobility and ACEO, WRI India; Mr Harj Dhaliwal, MD (Middle East and India), Hyperloop and Mr Ayman Ashour, CEO, Siemens Mobility Turnkey, Middle East and Africa and CEO Siemens Mobility, UAE. The session examined the variations of mass rapid transit systems, increasing role of Intelligent Traffic and Transport System (ITS) in bolstering mass rapid transit systems, ideas on achieving multimodal integration, and alternatives to decarbonize the mobility sector.
The panel discussion on ‘Building Smart, Livable and Sustainable Cities’ highlighted the importance of building sustainable cities in today’s world. The session was attended by Mr G Mathivathanan, Principal Secretary, Housing and Urban Development Department, Orissa; Mr Manish Singh, District Collector and Chairman Smart City, Indore, Madhya Pradesh; Mr. Renato De Castro, Smart City Senior Partner, RMA Advisory (UAE); Mr Ba Touc VO, Architect, Enia Architectes (France) and Mr Naveen Mathur, CEO, Maithri Aquatech.
The Urban and Rural Development Week at Expo 2020 is significant to showcase India’s growth in the sector in the last decade and highlight the roadmap for the coming years.