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‘Manchester of South India’ Holds True Investment Potential
INDIA, 23 June 2009 – For some time now, Tier II and Tier III cities have been out of the spotlight in terms of real estate potential. While many of these cities have indeed failed to deliver on the erstwhile hype, international real estate consultancy Jones Lang LaSalle Meghraj has isolated one of the genuine exceptions in Coimbatore. 'Coimbatore - An Emerging Real Estate Destination' is a definitive white paper that traces the evolution of this enigmatic city’s real estate market, identifies its numerous market drivers and showcases its indisputable prospects as the perfect South Indian real estate investment destination of the future.
“It is time to sit up and take notice of Coimbatore’s status as a highly promising alternative IT/ITES and biotech destination,” says Ramesh Nair, Managing Director, Chennai, Hyderabad, Jones Lang LaSalle Meghraj. “This Tier III city has everything it takes, including telecom, power, a highly skilled work force, a rapid pace of infrastructure development and a pro-active Government that is aggressively promoting the city.”
Factoring in Coimbatore’s high literacy rate, the scale at which top multi-nationals are migrating into this city and the manner in which the retail, hospitality, entertainment and residential sectors are growing, JLLM’s 'Coimbatore - An Emerging Real Estate Destination' asserts that Coimbatore is indeed the Tier III boom story of the future.
“Our findings in this study indicate that Coimbatore will emerge as a favoured destination for real estate investment in the long run,” states Abhishek Kiran Gupta, Head – Research, Jones Lang LaSalle Meghraj. “There is a huge potential for local, national as well international developers in the real estate sector in Coimbatore. As a result, now would be the right time for the developers, investors and occupiers to strategize and collaborate to reap the long term benefits of right investment in the right place.”
Jones Lang LaSalle Meghraj will release 'Coimbatore - An Emerging Real Estate Destination' at COIMBATORE EDGE, a forum to discuss Coimbatore’s competitive real estate advantages. This event, organized in collaboration with CII, will see prominent speakers from the real estate community analyzing the city’s potential from every angle.
COIMBATORE EDGE will take place at The Residency, Coimbatore on June 23, 2009 between 3.30 and 6.30 p.m.
Abhishek Kiran Gupta