City Lights: Asia-Pacific Union for Housing Finance signs MoU with APMCHUD

Asia-Pacific Union for Housing Finance signs MoU with APMCHUD

The Asia Pacific Union for Housing Finance (APUHF), a platform to act as a knowledge sharing and networking medium promoting coalition and coordination among the Asia-Pacific countries in determining their housing and housing finance solutions entered into a Memorandum of Understanding with the Asia Pacific Ministerial Conference on Housing and Urban Development (APMCHUD), an inter-ministerial body of the Asia-Pacific countries, set up under the aegis of UN-HABITAT, having its permanent Secretariat located in New Delhi. The MoU was signed during the Fourth APMCHUD Conference held in Amman, Jordan. The MoU was signed by RV Verma, chairman, APUHF and CMD, National Housing Bank and Susheel Kumar, chief coordinator, APMCHUD and joint secretary, Ministry of Housing and Urban Poverty Alleviation on behalf of APMCHUD.

Office absorption drops by 23% in top 8 cities

Office space absorption dipped by 23 per cent during 2012 in major cities to 29 million sq ft as corporates remained cautious of expanding businesses amid global uncertainties and slowdown in the Indian economy, property consultant Cushman and Wakefield has said. The total net absorption for 2012 was recorded at 29.05 million sq ft in the 8 major cities — NCR, Mumbai, Bangalore, Chennai, Hyderabad, Pune, Kolkata and Ahmedabad as against 37.73 million sq ft in the previous year, the report said. The supply of office space also dropped by 10 per cent at 35.30 million sq ft as against 39.35 million sq ft in 2011. Chennai saw the highest decline, down 51 per cent over last year. Bangalore, a traditionally high absorption market recorded a decline of 24 per cent over last year. Leasing activity (net absorption) declined in all cities except Ahmedabad and Mumbai that saw a notable increase of 38 per cent and 9 per cent, respectively, over last year.

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