DLF Limited : the Real Estate Giant

DLF Limited or DLF (Delhi Land and Finance) is the India's biggest real estate developer based in New Delhi, India. The DLF Group was founded by Raghuvendra Singh in 1946. DLF developed residential colonies in Delhi such as Krishna Nagar, South Extension, Greater Kailash, Kailash Colony and Hauz Khas. In 1957, with the passage of Delhi Development Act, the government assumed the control of real estate development activities in Delhi and the role of private real estate developers was restricted. As a result DLF began acquiring land at relatively low cost outside the area controlled by the Delhi Development Authority, particularly in the district of Gurgaon in the adjacent state of Haryana. In the mid-1970s, the company started developing DLF City project at Gurgaon. Its upcoming plans include hotels, infrastructure and special economic zones-related development projects.

The company is currently headed by Indian billionaire Kushal Pal Singh. Kushal Pal Singh, according to the Forbes listing of richest billionaires in 2009, now stands as the 98th richest man in the world and the world's richest property developer. The company's US$ 2 billion IPO in July, 2007 created India's biggest IPO in history. In July 2007, DLF announced its first quarter results ending 30 June 2007. The company reported a turnover of Rs. 3,120.98 Crore and PAT at Rs. 1,515.48 Crore.

DLF Signature

Recent History
Until the mid-1990s, most of DLF's (Delhi Land and Finance) operations were in Gurgaon and Delhi metropolitan area. However, with increased assets, DLF has been trying to ramp up its operations all over India. A major investment made by DLF was a INR 700 Crore (INR 7 billion) buyout of NTC Mill Land in Mumbai. Some of DLF's other development initiatives include a US$ 2.1 Billion investment in Tamil Nadu, a multi-billion dollar business park in Bangalore, a US$ 1.7 billion investment in Madhya Pradesh's real estate and infrastructure sector, and a INR 10 billion investment plan for developing special economic zones in Orissa.

Developments
DLF builds residential, office and retail properties.

DLF Office Complex at Gurgaon

Joint Ventures
Laing O'Rourke- UK based construction company credited with construction of Dubai International Airport, London's Millennium Tower, etc, will construct all DLF's landmark projects. Together DLF-Laing O' Rourke shall build the expressways, ports and other megastructures of India's new economy.

Nakheel of Dubai are partnering with DLF for developing townships in India.

WSP Group Plc is also partnering DLF, providing Management and consultancy to the built and natural environment.

Feedback ventures, is providing consultancy for faster project execution to DLF.

DLF has also tied up with Hilton Hotels to jointly develop hotels in India.

New Delhi Skyline

Sponsorship
DLF is currently sponsoring Indian Premier League (IPL), a Twenty20 format cricket league in India. DLF Group has paid US $40 million to be the title sponsor of the tournament for 5 years.



Criticism
DLF doesn't show pictures of a lot of its completed projects on its website. Which makes it difficult to see the quality of its construction. For example, its Royalton Towers in Gurgaon only shows a computer generated graphic. Even though the project has long been completed.


Basic Details

Type: Public
BSE: 532868
NSE: DLF
Industry: Real estate
Founded: As Raisina Cold Storage and Ice
16 March 1946
As Delhi Land and Finance
18 Sep 1946
by Chaudhury Raghuvendra Singh
Headquarters: New Delhi, India
Key people: Kushal Pal Singh (Chairman)
Products: Offices
Houses
Hotels
Golf courses
Revenue: ▼ $3.50 billion (FY 2009)
Net income: ▼ $1.97 billion (FY 2009)
Total assets: ▼ $9.87 billion (FY 2009)
Owner(s): KP Singh & family (78%)
Website: www.dlf.in

UAE Real Estate

The Trump Tulip Hotel in Dubai

The rental property andrental real estate market in Dubai, UAE is a rapidly expanding business. Investors can expect almost a 30% or more return on any property. Dubai is one of the few Arabian states open to the West in terms of culture and social integration and secure in terms of political and economic environments. The Dubai property market is growing and anyone who invests in the real estate of Dubai will see a rapid turnover in their investment.


The Grand Hyatt Hotel in Dubai

Dubai is especially attractive for people who are thinking of settling outside their home country in Europe, South Africa or South East Asia. The sunny weather, the exchange rate and the completely cosmopolitan nature of the state is something that is found in few other countries.

Tower City

Dubai is developing into a nation that is the epitome of globalization. Though a middle eastern country it lacks the formality, conventions and traditional flavors found in the Arab region. Dubai, has reinvented itself to suit the needs of all cultures and conventions. It is a commercial region where the real estate, the property and the investments are being created to cater to a universal regime.

Dubai, UAE is creating a real estate and property boom that will tickle the fantasy of most people. It is creating regions within its borders that are representative of the world. Whether you want to buy, sell orrent in the real estate of dubai the return rate is excellent.

Dubai's Pearl Towers

The open nature of the society in Dubai makes it a haven for people who want to retire, relocate their families in a more successful manner and/or are simply looking for a secure return on their money. Dubai is a lively place which has people of all religions, is open to various entertainment factions, has excellent education and healthcare facilities and is overall a place where living is dream.

Burj Al Arab Dubai - The World's Tallest tower

Some of the most popular Dubai rental real estate and property projects include:

* The Walk
* Jumeirah Beach Residence
* Business Bay
* The Executive Towers
* Vision Tower
* Bay Avenue
* The Villa

The Palm Islands

About Dubai is a site that offers information on the most popular and successful rental real estate and property projects being built and already completed in Dubai. All the projects are described and presented in a manner such that the information is useful to a person interested in settling or investing in Dubai. The Dubai rental real estate and property market is at the peak and the statistics show that there are more foreigners than natives in this cosmopolitan nation.

The Majestic Building, New York City

The Majestic is a housing cooperative located at 115 Central Park West between 71st Street and 72nd in New York City. The apartment building was constructed in 1930-1931 in the Art Deco style by real estate developed by Irwin S. Chanin. The building has 238 apartments in 29 stories. Like the San Remo cooperative three blocks north, it has two towers facing the Central Park.

The apartment building replaced the Hotel Majestic designed by Alfred Zucker in 1894. The steel framed building was originally planned as a 45 story hotel, but the plans where changed mid way in the construction due to the depression and the passing of the Multiple Dwelling Act.

The Majestic was home to some of the former heads of the Luciano crime family (later called the Genovese crime family) including Meyer Lansky, Lucky Luciano and Frank Costello. In 1957, Vincent "The Chin" Gigante shot Frank Costello in the lobby of the Majestic in a failed assassination attempt.^[2]

Louis "Lepke" Buchalter lived in apartment 17J in 1933. Buchalter was a founding member of the New York syndicate, along with Meyer Lansky and Lucky Luciano, and was head of its security arm, Murder, Inc.

Egg shaped National Grand Theater of China - an Architectural Marvel

After five years of construction, China's National Grand Theater undergoes its first test runs starting next Tuesday. The egg-shaped edifice is one of the most talked-about architectural projects in years. It's audacious and innovative design is by French architect Paul Andreu and the project itself has evolved on a grand scale.

Situated in the heart of the capital, the futurist theater emerges like an island at the center of a lake. Employing over 20,000 titanium panels and 12 hundred panes of laminated glass, the stunning exterior aesthetically portrays the opening of a giant curtain.

Entering the theater, audiences will pass through an 80-meter tunnel, looking up at shimmering water viewed through the transparent roof.

China Real Estate - Economic Aspects

Shortly after the new government was founded in 1949, almost all of China's private or individual-owned farms were collectivized into large communes. Private ownership of housing in the urban areas was nearly extinguished. In order to support the fast industrialization, the central government invested heavily in the 1960s and 1970s. A large share of the country's economic output was arranged and controlled by the government. It set production goals, controlled prices, and allocated resources throughout most of the economy. As a result, by 1978 nearly three-fourths of industrial production was manufactured by state-owned enterprises (SOEs) based on centrally planned output targets. Private enterprises and foreign invested firms were nearly non--existent. One of the central government's major goals was to make China's economy self-sufficient.

Foreign trade was generally limited to obtaining only those goods that could not be made or found in China. Only a handful of countries that had good relationship with China could participate in foreign trade. Though China's real GDP grew at an estimated average annual rate of about 5.3% from 1960 to 1978, the economy was almost inactive due to the huge population base and absent competition. In addition, the economy was inefficient since there were few profit incentives for enterprises and workers. Price and production controls also caused widespread distortions in China's economy.

In late 1970s, the government under the late Deng Xiaoping's leadership hoped that gradual opening-up the market and implementing economic reform

would significantly increase economic growth and raise Chinese people's living standards. Since then, the size of China's economy has grown more than tenfold.1 Between 1979 and 1999, China's GDP grew at an average annual rate of 9.7%.2 The real GDP total in 2000 has passed one trillion U.S. dollars ($8.8 trillion RMB) the first time in history. Two main attributing factors supporting much of China's rapid economic growth are: large-scale capital investment (financed by large domestic savings and foreign investment) and rapid productivity growth. Economic reforms led to higher efficiency in the economy, which boosted output and increased resources for additional investment in the economy. In addition, the private sector, consisting of semi-private township and village enterprises, and private companies and farmers should be credited for the speedy development of China's economy. The private enterprises acc

ount for 60% of China's GDP, up from nearly zero in 1979. At a meeting held in August 1999, the government leaders promised to make that figure 75% by 2002. Today, 177 million of China's working population (ages 18 to 60) works at a private, or partly private, company, versus 122 million in the state-owned industries.3 Based on the GDP PPP statistics, China's GDP has passed Japan's and China has already become the world's second largest economy after U.S.

Source: EDC Economics: Japan Economic Outlook, 2000

In spite of the fast development, the future growth will likely depend on the ability and willingness of the government to deal with many challenges it faces. Presently, nearly one third of China's industrial production comes from state-owned enterprises (SOEs), many of which lose money and need to be supported by the government through the banking system. The restructuring of traditional industries and the closing down or sales of money-losing SOEs have costed hundreds of thousands of workers losing their jobs. To keep the pace of current development, the government adopted a policy of maintaining political stability while continuing economic reforms.