Real Estate News Update for May 20
Dear Readers,
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Industry
The court was hearing a petition by Jai Prakash Associates Ltd (JAL), which claimed it had spent a substantial amount of money on building boundary walls, roads and other basic amenities.
Regulatory
ED investigation revealed that there were many agents who have worked for and have still been working for Shine City to lure the investors thereby helping Rasheed Naseem and Shine City in generating the proceeds of crime.
International
The People's Bank of China has announced that it would establish a 300-billion-yuan (about USD 42.25 billion) relending facility for the government-subsidized housing project.
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Hospitality
In preparation for the refinancing, OYO has already moved its application with markets regulator SEBI to withdraw its current draft red herring prospectus (DRHP). The company intends to refile an updated version of the DRHP, after the bond issuance.
Housing Finance
PNB Housing Finance aims to grow its portfolio by 17 per cent during the current fiscal on the back of the increase in branch network and focus on affordable housing loan. The housing finance company has enough capital to sustain this kind of high growth, PNB Housing Finance managing director Girish Kousgi told PTI.
We're elated to unveil The Economic Times DesignScape - where visionaries unite under the theme 'Architects of Tomorrow'.
Watch this space and be part of this groundbreaking event that's set to transform the way we build our cities! ???
Stay Tuned - https://bit.ly/49Wkj8y
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