World Construction Network

Daily Newsletter

09 August 2023

Daily Newsletter

Experion Developers, a real estate developer backed by Singapore’s Experion Holdings, has acquired land in Sector 48 within the Indian city of Gurgaon.

The company obtained this property through a government auction that was estimated at Rs5.5bn ($66.4m).

More specifically, the Haryana Shahari Vikas Pradhikaran governmental department auctioned out this 5.5-acre plot of land, reported the Economic Times.

Experion Developers CEO Nagaraju Routhu reportedly said: “This land will be used for developing a luxury residential project. This acquisition marks a significant milestone for the company and showcases its commitment to India’s real estate market and growth story.”

The business also purchased a four-acre property at Gurgaon’s Golf Course Road for Rs4bn, and acquired a five-acre site in Noida's Sector-45 for Rs2.5bn.

According to the company, these land parcels were also acquired through government auctions and will be used to develop additional residential units.

Experion Developers will be investing Rs7bn in the Golf Course Road project to construct approximately 800,000ft² of residential space and nearly Rs7bn in its Noida-based project to develop roughly one million square feet of development space.

Both projects are expected to generate an estimated Rs34bn in income.

Meanwhile, Experion Capital, AT Capital’s non-banking financial business that is focused on real estate and infrastructure, has granted Rs2bn in project finance for Vatika Group’s residential project in Gurgaon.

ESG 2.0 marks a shift towards stricter environmental rules

ESG is moving into a different era, which we call ESG 2.0. While ESG 1.0 was driven by voluntary corporate action, spurred by pressure from activist consumers and investors, ESG 2.0 is being driven by a new wave of government policies. The EU has taken the regulatory lead, with rules introduced or in the pipeline that will price emissions, regulate the use of the terms ‘ESG’ and ‘sustainability’ in marketing materials, and make ESG reporting mandatory. The US has taken a different approach, favoring less regulation and more financial support in the form of tax breaks for clean industry (renewables plus nuclear and hydrogen). China is planning to expand its emissions trading system to more sectors, decarbonize its heavy industry, and ramp up its use of renewables. The new policy direction is mainly motivated by the ambition to hit net zero emissions targets. But on top of this, governments are now competing for clean industry and trying to challenge China’s leadership on the production of the world’s green technologies such as solar panels and batteries, as well as the production and refinement of materials needed for energy transition such as lithium. These driving forces are leading to policy that will impact every sector, not just heavy industry, and will keep ESG near the top of the regulatory agenda over the longer term.